Shopify is making easier for its users to sell their online-stores, with the launch of its new marketplace called Exchange.
According to Shopify, Exchange has hundreds of businesses listed – from beginner websites to bigger companies, ranging from as little as $200 to $650,000. To use it, sellers must go to their smartphone store and download the Exchange app. Shopify automatically produces screenshots and will provide a selling price based on the revenue and traffic. There are no fees for purchasing and selling via the Exchange.
Shopify will give potential buyers all information related to the site’s traffic and revenue. The information comes directly from Shopify and sellers are unable to make any edits. Prospective buyers can also reach out to sellers anonymously via email. They can make additional inquiries about the business such as its social media accounts, design assets and more. This additional information can be used during negotiations.
Prospective buyers are encouraged to ask questions of sellers such as learning if the owner offers any after-the-sale support and if it’s got a physical inventory or uses dropshipping.
For people interested in buying a store from the Exchange, they can browse the available stores using the Stores by Industry, Featured Stores or All Stores options. Upon finding a store, prospective buyers can hit the Contact Seller button and fill out the provided form to get the ball rolling.
After a sale has gone through, buyers will get an email notification, letting them know that they’re now the store owner. After logging in, buyers are encouraged to choose a plan, update all contact info with third-party services and apps, update credit card information, set Shopify Payments up and reconnect with social media users.