Selling an ecommerce business can be a complex and emotional journey. This episode provides a rare look into the process, from the perspective of an entrepreneur who successfully built and exited AmericanBridal.com, offering invaluable lessons for merchants considering a sale.
Key takeaways
Understand that selling an ecommerce business is a marathon, not a sprint, often taking 1-2 years from initial consideration to closing the deal.
Be prepared for the emotional rollercoaster of selling a business you've poured your life into, recognizing that feelings of loss and detachment are normal.
Focus on building a strong, demonstrable asset with clear growth potential, as this will significantly increase your business's attractiveness and valuation to potential buyers.
Thoroughly understand the legal and financial intricacies of an acquisition. Seek expert guidance early to navigate due diligence, negotiations, and contract finalization effectively.
Many merchants dream of building a successful ecommerce business, and then selling it. Our guest for this interview has done just that. She’s here to describe the process — and the post-sale emotions of it all. She is Shirley Tan, the founder and former owner of AmericanBridal.com, which is now owned by TheKnot.com. She speaks with Practical Ecommerce’s Kerry Murdock.
Frequently asked about this episode
What does this episode say about business acquisition?
Understand that selling an ecommerce business is a marathon, not a sprint, often taking 1-2 years from initial consideration to closing the deal.
What does this episode say about entrepreneurship?
Be prepared for the emotional rollercoaster of selling a business you've poured your life into, recognizing that feelings of loss and detachment are normal.
What does this episode say about exit strategy?
Focus on building a strong, demonstrable asset with clear growth potential, as this will significantly increase your business's attractiveness and valuation to potential buyers.
What does this episode say about business acquisition?
Thoroughly understand the legal and financial intricacies of an acquisition. Seek expert guidance early to navigate due diligence, negotiations, and contract finalization effectively.
