On this episode I talk with, Justin Cooke, co-founder and CMO of empireflippers.com which is a marketplace for buying and selling online businesses which I’ve used before when sold my small ecommerce business. If you’re looking to sell your website you can use this link to save their $297 listing fee.
Discussed on this episode
1:40 – Rules on letting people know / promoting your domain is being listed (as the domain is hidden from listing)?
4:13 – How are websites and online businesses valued? (Multiples based on profit or revenue or something else?)
9:20 – Do any of following dramatically affect pricing multiple – value of brand, domain value, email list size, customer list – or is it 80% on average last 3/6 months profit?
18:45 – What’s the most common reason people give for why they want to sell their online business? (instead of holding it and keeping the cashflow)
22:28 – Who buys online businesses?
28:41 What’s your role as Chief Marketing Officer entail?
31:00 What lessons have you learned about team building, hiring, and all things “team”?
34:15 – Have you sold any productized services businesses yet?
44:50 – Biggest mistakes you’ve made in this business? What’s your plan for Empire Flippers…gonna flip it?