how to cancel your sale on shopify exchange

Shopify exchange which was their,official Marketplace to buy and sell,online stores officially closed for,business on November 1st now this is,leaving people asking where can I buy,sites and where can I sell them and for,anyone not familiar exchange Marketplace,was a tool provided by Shopify for free,where Shopify store sellers could list,their businesses for sale now when they,list them they're integrated with their,Shopify account so it would show real,numbers like Mount of website visitors,and revenue but as far as the price that,the seller would ask that was entirely,up to them now Shopify exchange was also,very hands-off with these sales so,things like the amount sellers asked had,no way of being screened to see if it,was a Fair Deal Or Not same thing when,it comes to net profit margin you could,see total revenue but not what that,store actually kept as profit now this,Marketplace was first introduced in 2007,so it lasted for five years before now,where it is officially closed and in my,opinion the big biggest reason it closed,is because running an online store,Marketplace is no easy task when people,are paying lots of money to acquire,businesses if they buy something that is,not what it was represented as that,reflects very poorly on the brands and,because shopify's main business is not,providing a Marketplace that vet stores,I think a lot of people had that,experience which you could find if you,go on YouTube and search for Shopify,exchange transactions you'll see some,history there that doesn't look too,great and that doesn't reflect that well,on Shopify so what I want to do in this,episode is share some other sites you,can use if you're looking to buy a store,or sell a store as we move in to 2023,and I also want to say on my part to,Shopify if you watch this channel you,know I'm a big fan of them this doesn't,change my feelings about them it's just,that the marketplace again is something,that even when they launch this I don't,think got that much hype because people,that have been in e-commerce for a while,know that this is not an easy business,to run and again it wasn't Shopify top,priority okay so let me switch screens,here and I'll show you the page that now,comes up when you try to access Shopify,exchange and you can see here at this,point it's after November 1st so it's,already been closed when you went on,Shopify exchange you could choose to,sort businesses for sale by Price,Revenue by the age how long that store's,been in business the business type and,the industry then you would see these,listings with the revenue the traffic,The Profit again not verified by anybody,and then the inventory value if it was a,store that had inventory from there if,you wanted to buy the store you can,either just buy it or make an offer that,money would go to Escrow which is props,to Shopify the way to do it that way,that money is being held until you,confirm that the store has been,transferred to you but again this is,gone now when you try to access this,site on Shopify this is what comes up so,first off if anyone has had a store,active or an active listing I should say,to sell their business on Shopify,exchange that is obviously no longer,valid and you'll need to choose another,platform to sell on that's all covered,in these FAQs where it says why is the,exchange Marketplace app being,decommissioned shopify's top priority is,doing what is in the best interest of,our Merchants after November 1st 2022 we,are recommending that Merchants use,other marketplaces for buying or selling,their Commerce brands on the buyer side,I think you're going to have a better,experience through the brokerages and,marketplaces that I'm about to show you,and on the selling side I think there is,much more trust built up with these,other marketplaces so you can get more,for your store should you want to sell,okay so the first site that I want to,recommend for a Marketplace alternative,is the most similar to what Shopify,exchange was and this one has even been,around longer this has been around since,I first remember even looking into sites,to sell and this is flippa.com now,Flippa similar to Shopify exchange is a,service a platform that doesn't vet the,information they have different tiers if,you want to sell a store where they will,do some due diligence but for the most,part if you're looking to sell a store,that doesn't have much of an established,history that doesn't have consistent,profit over time and you just have,something that let's call it under,thirty thousand dollars it would sell,for Flippa still is a good place to,create that listing and to bring in,engagement to your listing so you could,sell now let me address this from the,buyer side if you're new to e-commerce,or you're just looking to buy your next,door I wouldn't recommend buying one,from Flippa not to say there's nothing,that's quality there but in my opinion,you are much better off learning from,someone like me of course and doing the,work yourself because once you see what,type of stores are for sale and you see,how much they are selling for you'll,realize that doing the work and spending,one maybe two months recreating that is,more than enough to get you to the,valuation where these stores already are,so next site that I want to show you,that could buy your store is a little,bit different than Flippa this one is,called open Dot store and the way this,site works is you have to be doing over,five hundred thousand dollars a year if,you are you can click up here where it,says get your offer and then you can,give them your email your store address,and this is a little bit different of a,company they're not listing you on a,Marketplace but they will actually buy,your store if it fits their criteria and,they will run it you could think of it,like a Syndicate that has a lot of money,from investors that looks to buy,e-commerce stores that they can run so,another place where if you're selling,you can get a quote for your store on,the buyer's side this one's not really,going to help you okay next one for a,Marketplace that I would highly,encourage you to use if you have a store,that would sell for thirty thousand,dollars or more ideally much more is,empireflippers.com now I've been talking,about these guys for a long time I've,known them way back since the AdSense,flippered is uh know them personally and,I've watched this business turned into,something really amazing because what,this company does is actually vet all of,the sites that are listed on their,platform what I mean by that is when you,go to their website if you go to get a,quote for what your store could sell for,and they actually list it for you they,have to approve the listing they're,going to get that information from you,so that the site actually has due,diligence behind it so what that means,is the buyers that go here to spend,money trust the Empire flippers that,means the buyers that have the real,money to invest into e-commerce stores,like to buy from here and they buy here,very frequently and many Dropship,lifestyle members have exited their,stores here for very very healthy,amounts with great multiples and they,typically sell very fast so this is,where I would recommend from the seller,side you go to the very least to get a,quote to see what your store is worth,and again from the buying side the,stores here are going to be typically 50,000 at a bare minimum to the multi-seven,figure range to acquire and again in my,opinion you know I'm all about the,lifestyle business and part of that is,putting in a small investment for the,maximum return my advice is not to buy,from here even though you can trust them,my advice is to build yourself and then,sell here in one two three five years,whenever you want to sell your first or,second store Empire flippers is doing a,deal now because Shopify Exchange closed,and you're getting 25 percent off their,normal brokerage fees so if you want to,list the store with them to sell before,December 31st 2022 you could save 25 off,their normal broker fee and I will link,to this just like everything else in the,description of this episode now the next,service that I want to share with you to,sell your site is Fe International this,is another business broker that has been,around for a very long time I know lots,of people that have sold stores with,them and done very well my opinion is if,you're going to sell your Shopify store,you were originally thinking of using,Shopify exchange Marketplace but you,want another service now that you can't,use that anymore go to both the Empire,flippers go to Fe International when you,go to them you can go to their,Marketplace and see what type of,multiples they're currently selling,Shopify stores for and from there you,can reach out to both of them say you're,interested in selling your business see,which one clicks with you better see who,you think can get you a better offer and,go with whatever is right for you so,guys that is is it for this episode,hopefully this helped you out moving,forward again my advice really is do not,buy a store if you want to have somebody,build one for you from the ground up,that could be worth it as far as the,design perspective goes but as far as an,established business my advice is maybe,use these sites for research find out,what is selling at What multiples and,then follow the Dropship blueprint build,your own and then exit it in a few years,have your bankroll and keep building,more

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