As many website business owners find themselves asking the same question, “How can I sell my business online?” the answer can almost always be found by seeking the advice of a website business broker.
Making the decision to sell internet business was probably not easy, but before beginning the process, it is important that you know what will almost always be expected from serious buyers. While the most buyers initially focus on the website evaluation, it is important to realize that buyers generally expect the seller to execute a non-compete agreement as part of the transaction.
For some business owner, a non-compete agreement is something they don’t think twice about because they are either retiring, focusing on another project or simply have no interest in ever getting into the same line of business again.
For those internet business owners who have numerous websites, ensuring the non-compete is not too restrictive will be crucial to making both the buyer and seller comfortable with moving forward on the transaction. Obviously buyers generally insist on a non-compete because they want some type of assurance that the seller isn’t simply going to duplicate their success in the same field, only with a different company name- and that is completely understandable.
However when a seller has a numerous other internet based companies (which is very common among internet entrepreneurs), it is important that the non-compete be strictly limited to preventing the seller from selling any of the same products / services that were sold at the time the seller was operating the business.
In most cases, agreeing on a non-compete is a small part of the entire process in the grand scheme of things, but giving that buyer the sense of confidence that you are not going to try and duplicate your success in the same field is crucial to making the deal work for both parties.