Even though we are paid by sellers and they are technically our clients, we do everything we can to treat buyers with the same level of respect and care. See what Shelby Nousain (linkedin) has to say about his experience buying the e-Commerce business careerbags.com through AcquisitionStation.com.
Bio: Experienced online marketing professional with 5+ years experience creating and implementing online marketing solutions for hundreds of successful companies.
Specialties: CPA & CPL Advertising, Online Marketing Strategy, Email Marketing, Advertising Sales, Business Development, Lead Generation, Entrepreneurship.
1. Please describe the journey that led you to buying a web-based business. What interested you most about the idea?
My journey started 9 years ago while sitting in a dungeon like office cubicle in the back corner of a shipping warehouse. I was fresh out of college, and miserable trekking into work everyday to sit in a cubicle and work for someone else. I knew there had to be more fulfilling work experience; one that was rewarding both personally and financially. Driven by the desire for something better, I began to develop a fascination with web based businesses because of their scalability, and potential flexibility of being able to work from anywhere where there’s an internet connection.
From that point forward I set myself on a mission to own and operate my own web based business.
Over time, I worked on a handful of web based projects, most notably an e-Commerce website that I purchased about 3 years ago that drop shipped wine refrigerators. I purchased the site in 2012, worked on improving it over the next 10 months, and sold it in 2013 for about 25% more than what I bought it for.
I was hooked and addicted. The experience of being the boss of my own web based business totally and completely whet my appetite for more.
In the time span between selling my first site and buying CareerBags, I’ve been working for an online marketing agency where I’ve had the opportunity to gain even more experience with SEO, SEM, and various other strategies that can drive a web business’s growth.
That brings us up to recent where the timing feels right to take the dive again into the entrepreneurial world, and have a second go-round with an e-Commerce business. I’m really excited to see how I can grow the site!
My biggest fear in buying a business was that somehow sales would drop off after taking ownership. I think it’s a fear that a lot of new buyers have which is why it’s extremely important to ask a lot of questions, and have a thorough due diligence process. You never want to discover a critical piece of information after it’s too late, and the business is already in your ownership.
I feel this is another advantage of working with a broker rather than buying a website direct from the owner or via other methods. A broker helps organize every step of the process from due diligence, to making an offer, to putting in place the appropriate legal documentation, which is something that I could have never done by myself and helps ensure that the owner isn’t misrepresenting the business in any way.
3. Please describe the transfer process. How has the seller been helpful thus far, and what level of confidence do you feel going forward running the business on your own?
The transfer process has been great! The biggest task has been transitioning about 30 different accounts, and vendor relationships from the previous owner to myself. This process took about two weeks to complete. During this time the seller also documented daily tasks, and operations of the business to ensure the transfer process was seamless to customers.
The seller has been very helpful throughout the transfer process. We’ve communicated primarily through email. He’s been responsive, and also extremely helpful when answering any of the questions I’ve had about the business, and day-to-day operations.
I feel both very confident, and extremely excited about running CareerBags from here forward. I believe there’s a tremendous opportunity to grow the business, and I’m excited to be the driving force behind it!
4. How do you feel AcquisitionStation.com treated you overall as the buyer?
As a first time buyer through a broker I was extremely pleased with the help Ryan provided. He was quick to respond to any questions I had about the acquisition process, and helped me feel comfortable with purchase. I slept much easier at night knowing the appropriate legal documentation was in place, and that the process was clearly outlined before moving forward which is something I couldn’t have done myself.
5. How comfortable do you feel with recommending our services to your friends and work associates?
I would absolutely recommend AcquisitionStation to anyone looking to purchase a web based business. Not only would I recommend Ryan to other buyers, I have AcquisitionStation.com bookmarked as the first site to visit when the time comes to purchase another site myself!