How to Buy an Internet Business
Like all good opportunities, the ability to buy an Internet business usually comes quickly and unexpectedly. If your perfect business is for sale, you will want to act decisively to ensure you don't miss out. Beware of rushing through the process, as this could result in lost investment or unforeseen problems.
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Instructions
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Investigate the business. Run a web search on the domain name to find any customer reviews. If the business you're looking at purchasing already has a bad reputation, you'll need to plan how to repair it before finalizing the sale.
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2
Find out what's included. Will the seller offer the domain name or just the business? How long will web hosting be provided with the current provider? If no hosting is provided, how will the business be transferred to your web host? These are the types of details you need to iron out before you discuss price.
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Talk money. Once you know exactly what you're purchasing, negotiate a price. If the seller is agreeing to do any kind of work, such as transferring the site or revamping the design, work out a split payment to prevent the seller from disappearing before the work is complete.
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4
Craft a contract. The contract should clearly outline what is included in the sale, the price and the time frame for transfer of ownership. Depending upon the size of the Internet business, you may need to consult a lawyer. If possibly, sign the contract in person, otherwise, consult a lawyer about the possibility of electronic signatures or mail/fax hard copies for signatures.
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Pay the seller. Most Internet businesses can be purchased using PayPal, which can offer some protection if the seller never delivers. Large transactions should be handled as suggested by your business lawyer.
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Complete the transfer. If the domain name is included, the seller should transfer it to your, or your business', name shortly after the sale. You should also be provided with details on accessing the existing business, including hosting and database passwords. If possible, obtain an offline backup of both the website and database from the seller.
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Transfer any merchant accounts. Many Internet businesses utilize advertising through affiliate programs or ad networks. Make sure to remove the advertising code that belongs to the previous owner and replace it with your own.
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Tips & Warnings
When purchasing an Internet business from someone that is outside your country, always consult a lawyer about the finer details of the process. Always change any password associated with the website as soon as it is under your ownership. This will prevent the previous owner (or staff) from gaining unauthorized access.
Never rush into purchasing an Internet business. Unscrupulous sellers may take your payment and never deliver the business.
