E-commerce Business for Sale: The Benefits
For the modern-day consumer, convenience is key. If something can be done faster and more effectively with minimal effort, that would be the option that the majority of consumers will choose. Having an e-commerce business means that your consumers can explore your product offering from wherever they are, whether at the office in between tasks or on their couch in their slippers. They don’t have to go to a store to pick and choose, stand in queues, and worry about pandemics.
Bronwen Barnard
16 February 2021
Summary
If you’re looking into buying a business, there are multiple options to choose from – you can choose from buying a franchise, a corporation, a start-up, or other business types. Another business that you can look into buying is an e-commerce business.
Like with any purchase, buying an e-commerce business can be extremely rewarding for multiple reasons. With online shopping becoming increasingly popular year-on-year, and COVID-19 forcing brick-and-mortar stores to turn into online ones, e-commerce is definitely a lucrative option when buying a business.
Advantages of Buying an Online Business for Sale in South Africa
With record speed internet connectivity and effective online tools, e-commerce has become a convenient, secure, simple way for consumers to buy products.
Faster Buying and Selling
For the modern-day consumer, convenience is key. If something can be done faster and more effectively with minimal effort, that would be the option that the majority of consumers will choose. Having an e-commerce business means that your consumers can explore your product offering from wherever they are, whether at the office in between tasks or on their couch in their slippers. They don’t have to go to a store to pick and choose, stand in queues, and worry about pandemics.
Convenient Search Options
Adding to the convenience factor, e-commerce sites allow consumers to search for what they need directly without having to pace through aisle after aisle like they would in a store. With the searching option, you’ll be able to give your customers what they need and then at checkout, you might want to suggest other items that will go along with this one to upsell them. If they decide to go for this option, you will increase your profits even further.
No Limiting Trading Hours
E-commerce sites are always active, meaning that if someone gets a bee in their bonnet to buy a product at 2 am when they can’t sleep, they can! This means that there will be no missed opportunities for a sale due to store trading hours.
Broader Customer Base and Customer Potential
Because e-commerce stores are online, business owners won’t have to concern themselves with geographical limitations. Marketing also becomes easier as marketers can retarget audiences based on their delivery areas, rather than in the surrounding area of a physical store.
Lower Operational Costs
E-commerce businesses don’t need to concern themselves with rent on their stores as everything is online. Not only this, but business owners don’t have to worry about floor staff wages, electrical bills in stores, security, etc. There will be operational costs such as hosting, as well as staff that works directly to keep the site running smoothly.
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Finance to Buy a Business
Choosing an existing business for sale is the easy part; by the time you’re considering buying a business, you already have an idea of which industry it will be in, its size, type, and all of the other particulars. The more complicated part is when it comes to applying for finance to buy a business. Very few people have the capital to use cash to buy the business, so it’s important to understand the ways and means of borrowing money and still making those dreams come true!
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When purchasing a CORO site, you’ll need to scrutinise the terms and conditions in place. It’s imperative to know whether the lease will be renewed by the oil company, or if the responsibility will fall on you as the buyer. This will need to be discussed and agreed upon before the purchase is made. In order to receive a suitable return on investment, the buyer should plan to operate the petrol station for at least ten years.
Is Buying a Franchise a Good Idea?
A franchise survey conducted by Sanlam in 2019 indicated that the South Africa’s franchise industry contributes just under 14% to the country’s GDP. Looking into buying a franchise for sale in South Africa is certainly worth it. Additionally, many franchises have stood strong in the midst of the devastating effects of the Coronavirus on the economy. There are many benefits of buying a franchise that has become more and more apparent.
Buying Your First Business
As an entrepreneur, you are always on the lookout for a new opportunity, or to compare your business with what is available in the market. There are lots of benefits to buying an existing business than starting one from scratch. If you are buying your first business or if you are a seasoned entrepreneur, consider the following when deciding your next venture.
Checking the Numbers
Before taking over a business, one should always conduct a proper due diligence. In fact, it is advisable to make any offer of an acquisition of a small or medium business subject to the completion of your own investigation into the affairs of the business. There are many methods to verify the numbers of an existing business and one can also use the services of a professional accountant who specializes in this field.
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