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WEB/DIGITAL Worth trying to buy existing e-biz?

Discussion in 'Business Models, Niches, Industries' started by michael515, Dec 19, 2007.

  1. michael515
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    michael515 Contributor

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    Is it worth trying to buy an internet business that's already running if I have a small budget i.e. say $5,000?

    The web can be very low cost-of-entry but when looking to buy an existing business off a forum like sitepoint.com marketplace all I see is junk mostly. Perhaps I'm living in a dreamland thinking that it's possible to buy an e-biz that's decent for that small amount of $$ huh? :coco:
     
  2. kimberland
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    kimberland Bronze Contributor

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    Never buy a business for what it is
    (if you do that, you'll be paying full value),
    buy it for what it can be.
     
    SteveO likes this.
  3. SteveO
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    SteveO Legendary Contributor FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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  4. biophase
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    biophase Legendary Contributor I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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    I tried to buy one for around $13k-$18k back in August. At that time I didn't know much about ebiz so I thought I'd just buy one that's up and running and learn from the seller. The seller and I could not come to an agreement so I decided to start one up on my own.

    I started up mine for about $300 total and used free open source software. I did all the template changes, learned alot about setting up the backend credit card process, processing orders, etc...

    I'm now in direct competition with the company I tried to buy. I'm pretty sure I have the exact same suppliers and resources. All he has on me is his Google SERP ranking. But I can compete using Adwords. Now that I've learned what I've learned, I would not buy a small ebiz again. What you are paying for is mainly SERP and repeat customers. Without those, you can duplicate a simple ebiz site easily.

    I would also say that you need to know some programming to successfully run an ebiz by yourself. If you have to call a developer everytime you have a small problem, your costs will ad up.

    Here are some posts about my ebiz from my blog
    Choosing an Ecommerce product part 1
    Choosing an Ecommerce product part 2
    My site after 7 days
    Chugging along
     

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