Digital Exits Review
Do you want to sell your online business for personal reasons, or even get enough liquidity to fund your next business venture? Or, are you merely looking for an exit strategy for your online business?
If that’s you, we got you sorted. It would be best if you start by looking for the right broker, who will maximize the sales price and get the best value for your online business.
Not every broker out there can successfully sell your online business in less time and for the right amount of capital. There are those in the brokerage business for the wrong reasons – they can leave your business on the market and not sold for long.
Stay away from wrong brokers to avoid all sorts of mistakes when selling your online business.
That’s why we recommend Digital Exits as our #1 broker to sell online businesses and get big deals done – with no regrets.
Read on to find out why!
What is Digital Exits?
Digital Exits is a brokerage service company founded by Jock Purtle, a successful entrepreneur who has been featured in several publications for his expertise in selling online businesses. Jock started the company as Broker Corp in 2011, before it adopted its current name, Digital Exits, in 2013.
Digital Exits is the #1 broker to sell online businesses, especially large tech ones, with $250k to $5 million in yearly profit. It has sold over 100 online businesses with a 94% closing rate.
The company has massively grown into one of the best brokerage providers across the USA. It connects online entrepreneurs looking to sell their online businesses to a massive pool of potential buyers.
Do you want to know how much your online business is worth?
Get a valuation for free, and have one of our brokers call you and take you through all you need to know.
Why Choose Digital Exits?
Digital Exits is our #1 broker for big deals for many reasons. In the last 12 months, the company has sold online businesses totaling about $35 million, with an average deal price of $3.1 million.
Therefore, if you want to maximize the value and still get the best price above the market threshold value for your online business, you need to work with our team of experts in Digital Exits.
We know there are many other brokerage service providers, but here are some of the reasons you would want to work with Digital Exits.
- Currently, Digital Exits has about $668.27 million in cash from its buyer pool, ready for acquisitions. The buyer pool comprises of serious entrepreneurs and buyers.
- They use an “X-factor” approach that gives them an edge over other brokerage providers with a massive depth of experience.
- A seller has access to use their appraisal resources to get a realistic estimate of how much his/her business can sell for.
- They have proprietary frameworks that allow them to help all kinds of buyers find suitable companies to maximize their investment.
- They have finalized deals in 5 continents with over 100 buyers and sellers.
How Does Digital Exits Work?
Digital Exits uses the most efficient way as possible to buy or sell online businesses. They use a detailed process to get results with the maximum valuation for your online business.
Here are the steps for selling your online business.
- Valuation
The valuation process is used to determine what your online business is worth. You’ll be asked to provide the past 2 years’ tax returns, balance sheet, most recent year profit, and loss statement. A broker from Digital Exits will call you to ask for more details to come up with your online business’s best valuation.
The factors Digital Exits considers for valuation include:
- Net profit
- Website traffic
- Age of the business
- Growth trends
- Business model
- Link profile
- Niche
- Competitors
- Signing the Agency Agreement
After the valuation, you’re supposed to sign an agency agreement that formally permits a broker(s) to sell your business on your behalf as the owner. It also contains how much they will get on closing the deal.
- Create the Prospectus
A prospectus that’s a 15-30-page document for your online business is then developed. It starts with information gathering, copywriter interview, and bank financing until a prospectus is in place to describe your online business to potential buyers.
- Deal to Market
The broker sends your prospectus to serious buyers and investors on their buyer database, marketing channels, and look for synergistic buyers.
- Accept an Offer
There will be lots of offers coming in for your business, and a broker will handle all price negotiations, and answer most buyer inquiries through email or phone. They will then connect you to a potential buyer to have a conversation, and advice you accordingly when choosing a buyer that suits you the best before accepting an offer.
- Due Diligence
Once a seller accepts an offer, a due diligence period is allowed before the contract is signed. It gives the buyer time to check all the metrics, facts, numbers, and claims about your online business.
- Contract Development
The contract is created, and it involves the transfer of assets and money in escrow from a third-party entity (either lawyer or escrow company). The seller will transfer all assets in the contract to the buyer so that the funds can be released. Once everything is finalized, we are then paid our fees for acting as a broker.
- Buyer Training
It involves providing training to the new buyer and takes about 1 to 4 months for a complete handover of the online business.
Main Takeaways
There are some pros and cons that distinguish Digital Exits from the rest of the brokerage service providers in the USA.
Pros
- Manage the entire deal-flow.
- Less to no paperwork.
- 100% confidential.
- No upfront fees.
- Access to closed deals, listings for sale, and testimonials.
- Get multiple offers from buyers.
- 100+ online businesses sold.
- Provision of buyer training.
Cons
- It can take an average of 7 months to sell your online business and depends on the buyer and seller, respectively.
- Works best for deals worth at least $250k to $5million.
Conclusion
If you want to avoid any obstacle or hassles when selling your online business, then it would be best if you turned to Digital Exits, our #1 broker, to sell online businesses. You can rest assured that you will have all the peace in the world during that transition period.
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