Selling Your Successful Store

On a more positive note, you may want to sell your store because it’s so successful.

You’ve got a few months of consistent profits, and now you want to cash out perhaps, take a vacation or do something with that money.

So you might want to invest in a new business or do whatever.

Here is some piece of advice from me.

I’ve never sold dropshipping store, I’ve never sold any website as a matter of fact, but I have thought about it and have taken steps towards selling a store before which I then pull back the idea.

But anyway, before you sell your store, outsource as much as you can first because I think, and this is part of my philosophy on my consistent income rather than huge spikes and all of that.

But I would prefer to have even just a store that is making $500 a month with very little work.

If it takes me four hours a month for $500, I’m happy.

I would not sell that store.

I would rather have the consistent income than a big payout.

So outsource as much as you can first.

Now, if you still think this store no longer worth my time or you still want to get that paycheck, then, scale your ads to the absolute maximum.

Push it hard.

You don’t need to go for long-term profits at that point anymore. You have to optimize for shorter term profit.

So, say 3 to 6 months, then you want to get a few months of solid profit.

So there’s no point of scaling up really hard and burning your products out in one month. You have to get 3 to 6 months of really solid profits and ideally, some consistency in it.

So, website buyers, I know because I have bought websites before, we don’t look for stores with huge spikes and valleys.

You want some sort of consistency in the profits because that shows that there’s a real business, a real audience something there. Not just trends that you seem to happen to catch because if you caught trends in the past, then there’s no saying the new store owner is gonna catch trends in the future.

So before you sell, make sure you’ve got few months of solid profits.

What are solid profits?

Well, whatever solid profits mean to you because if your store is making 10 grande before, then 10 grande is solid profit. If your store is only making $500 and you stick at $500 or perhaps growable to $800, then that is a solid profit for you.

Before you sell, ask yourself why you want to sell.

Don’t sell for the wrong reasons.

Don’t sell for the quick cash vs more money spread out over 24 months.

I would much rather have the consistent cash flow than just get all this cash in on one day and then nothing in the future. I know people who sold websites online they really regret it and you can’t go back.

So once you sell, it’s done.

You can always hold your website for an extra month or extra two months and then sell.

You can always delay the sale and in most cases, delaying the sale will make you more money.

Of course, if you got a much better opportunity else well then, you might be better off selling the website and putting all your focus into this new business ventures or even a new store in a different niche.

However, I would encourage you to build that new store.

Build a new project first.

Get profitable first before you actually sell it because like I said, you can’t go back.

Once you sell an asset, it’s gone.

And often times, the problem with these new projects is that you’re full of enthusiasm but you don’t actually know whether you’ll gonna be as profitable as you imagine.

Common issue, people start with loads of enthusiasm and after a while that that is down and the idea may or may not work but they certainly don’t have the results, the backup, the high expectations they went into the new business with.

So, before you sell, make sure you’re not in that highly enthusiastic phase about a new project.