Justin Cooke - Empire Flippers
In Episode 23, I interview Justin Cooke of Empire Flippers about Buying and Selling Online Businesses. Learn about how the sale process works. How much trading history you need before you can sell your business, and how you can sell your business even if you have kept poor records.
Finally learn about what types of online businesses fetch the most money, what sort of money you can expect to make when you sell your business. We then wrap up the podcast with tips on how to negotiate better deals when buying businesses.
➤ Justin shared his background as an entrepreneur.
➤ Justin provided an overview of what Empire Flippers does.
➤ Justin provided an overview of the business sales process.
➤ Justin provided an overview of the role that the seller and the buyer play in the sale process.
➤ Learn about the type of financials that are typically required and know if there is a certain amount of history required.
➤ Justin gave an overview of the level of diligence a seller should expect to receive from a prospective buyer.
➤ Justin outlined how valuations typically done and detailed the sort of multiples range that you can expect to see when selling your business.
➤ Justin shared the sort of businesses that command the best revenues.
➤ Justin specified how contracts/legals are generally sorted out.
➤ I asked how fees are calculated.
➤ Justin provided tips for buyers to maximize their value for money in a sale and for sellers to maximize their sale value.
➤ Justin outlined the way to contact him.
➤ Justin detailed his views on the best ways to negotiating better deals.
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