If you decide that you no longer want to continue with your business, instead of closing the store, you can sell it to another entrepreneur. You can sell your store on dedicated platforms like the Exchange Marketplace.
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Before you sell your store, you need to determine which assets are included with the sale. Assets can be physical, like inventory, or digital, like a logo, are often required to continue running the business.
The buyer needs to understand exactly what is included in the sale, and what it costs to operate the business each month before they send you an offer. Making this information available in your listing can help reduce the amount of questions the buyer has before sending you an offer.
Assets you might consider including:
- Logo and branding files
- Product photos
- Mailing lists
- Social media accounts
- Personal support after the sale
You also need to determine the monthly costs associated with operating the business. These help the buyer understand how much money they can expect to invest back into the business each month.
Expenses that you should include:
- Subscriptions (Shopify plan, apps, etc)
- Advertising (Facebook, Instagram, Google Shopping, etc)
- Software (Photo-editing software, etc)
Sell your store on Exchange Marketplace
Exchange Marketplace is a platform where you can buy and sell Shopify stores.
Benefits of Exchange Marketplace:
- Dedicated section for dropshipping and Oberlo stores.
- A dashboard within the Exchange app to track your listing’s analytics, like number of recent views, and comparison data from other listings to determine how well your listing is performing.
- A limited amount of your store’s data, like average monthly revenue, and average monthly traffic, is automatically synced with Exchange.
- Secure transactions. All payments are safely managed in Escrow.
- Safe transfer of ownership. Shopify’s Exchange Marketplace team helps you with transferring the ownership to the buyer, and ensures that any sensitive account information is removed.
Stores sold on Exchange are subject to an Exchange Marketplace service fee, and an Escrow fee. The fee is automatically deducted from the purchase amount, and is only applicable if the store is purchased. You can view the estimated fees, which are based on the sale price, while creating the listing in the Exchange app.
You can list your store on the Exchange Marketplace/ To list your store on the Exchange Marketplace, you need to meet the Exchange user requirements. They help ensure that the ownership and the payment are transmitted securely.
1. Go to Exchange Marketplace.
2. In the top menu, click Sell your business.
3. Enter your myshopify.com URL in the Store address field.
4. Click Add my Shopify store.
5. Click Install app.
6. In the Exchange app, click Complete your listing.
7. Fill out the information about your store. Click Preview to see an example of what your listing looks like.
8. Click Publish if you are ready to send the listing for review with the Exchange Marketplace team.
Transfer Oberlo account ownership
Once the buyer has submitted their payment, or after you receive a notification to transfer the business assets in the Exchange app, you need to transfer the ownership of your Oberlo account to the buyer.
- If your store is on a paid Oberlo plan, then you switch to the free Explorer plan.
- Contact Oberlo Support to have your payment information removed from the account.
- Contact the buyer to obtain their email address, and agree on a temporary password.
- Set the email address and password in Oberlo to the buyer’s email, and the agreed temporary password.
- Contact the buyer to inform them they can now login with the new email and password.
- The buyer takes ownership of the store, changes the email and password, and selects a paid plan using their own payment information if needed.