Business Evaluation Questions for a Store Owner to Address
WHAT IS THIS BUSINESS WORTH?
GET HELP EVALUATING A BUSINESS• My name is Igor Soshkin, I am the founder of Shopping Cart Elite, an ecommerce platform.• You can read more about my expertise at igorsoshkin.com• I have 12 years of experience in ecommerce and operating online businesses.• OPPORTUNITY• RISKS• FAIR MARKET VALUE
WHAT IS IT REALLY WORTH TO YOU?• What was the gross sales last year?• What do you predict gross sales this year will be?• What was the net profit excluding salary did you bring in last year?• What do you predict this year to be net profit excluding salary will be?• What is the evaluation of your business NET PROFIT X _ ?• Why are you evaluating the business at this amount?• What is the asking price?
WHAT IS IT REALLY WORTH TO YOU?• Is there a short term growth opportunity?• Is there a long term growth opportunity?• What will the business be valued if short term is implemented?• Why are you selling it?
WHAT IS IT REALLY WORTH TO YOU?• Where is the website traffic coming from?• Will the traffic keeping coming when its sold?• Who did your organic SEO?• Can I have your paid traffic account if you had any?• What is the conversion rate for the overall traffic?• What is the bounce rate?• How many customers browse but don’t buy?
WHAT IS IT REALLY WORTH TO YOU?• How many Suppliers do you deal with?• How competitive are your discounts? – Can you provide one sample of a product, your discount and shopping comparison what other sell including eBay• Are you going to keep the original supplier account or will the account be transferred to you?• If you keep the original will the discounts be transferred to my account?• How much of the business was drop shipped?• The part that wasn’t drop shipped how do you handle it?
MEASURING GROWTH OPPORTUNITY• STEP 1 - AWARENESS (MARKETPLACES/CROSS CHANNELS) – Do you sell on eBay? – What is the opportunity on eBay based on Terapeak? – Do you sell on Amazon? – What is the opportunity on Amazon? – Do you syndicate with Google Shopping, The Find, Bing Shopping – Do you use Adwords (use Spyfu.com to monitor this) – How much organic traffic do you have based on Spyfu? – Do you do email marketing campaign – Do you do social media marketing
MEASURING GROWTH OPPORTUNITY STEP 2 - WEBSITE OPTIMIZATION (WEBSITE ITSELF) FOR MORE INFORMATION GOTO www.bit.ly/convertbetter
MEASURING GROWTH OPPORTUNITY• STEP 3 – CLOSE SALE (SALES FUNNEL AND SALES STAFF) – Do you answers the phones during business hours – Do you use proactive live chat to engage with visitors – Do you actively monitoring forums – How fast do you reply to emails – Who was doing the customer service • How much experience do the customer service reps have? • How much were the workers paid? • How were their accents? – How would you evaluate your selling skills 1-10
REPUTATION• Do you have any negative feedbacks?• Why do you have those negative feedbacks?• Do these feedbacks cause loss of sales?• How can these feedbacks up be cleaned up? – For More Tips on Damage Control visit - https://bitly.com/googleOP
TECHNOLOGY USED FOR THE SITE• What platform is being used for the business?• What kind of reviews does the platform have?• How easy is it to migrate to another shopping cart platform?• How much maintenance is required to update the website?• How much web master or developer skills do you personally have?
TECHNOLOGY RECOMMENDATION• Why do you use Shopping Cart Elite? – Feature Rich Website – Full User Friendly CRM System – Very easy to migrate from the old platform – Retain Ranking – Conversion features such as • Price Control • Visitor Generated SEO • Using content to create Blog Network • Visitor Behavior Analytics • eBay, Amazon, Google Shopping, The Find, Bing Shopping syndication – TO LEARN MORE ABOUT SCE GOTO: www.bit.ly/scemoreinfo
OPERATIONS OF A BUSINESS• How many people run the business?• Who does what in the business?• How many more people should be running the business?
OPERATIONS OF A BUSINESS FOR MORE INFORMATION GOTO www.bit.ly/ecommerceoperation
EXPENSES TO EXPECT• What expenses to prepare for: – Payleap (www.bit.ly/payleap) to get discounted rates • $14.95 for everything – Skype for Main Line • $9.99 per month (if prepaid for a year) – Ring Central for Unlimited Toll Free (www.bit.ly/ringcentral4495) • $44.95 per month (instead of $50 + 15 taxes) – PayPal Express Checkout • Free – Live Chat • $9.99 per month – Shopping Cart (www.shoppingcartelite.com)
PROTECTING YOURSELF POST SALE• We use escrow to make sure you get the business without problems• We allow you 3 days to evaluate the business before releasing the funds
GET HELP EVALUATING A BUSINESS• USING MY KNOWLEDGE I CAN ALSO NEGIOTATE THE DEAL ON YOUR BEHALF TO GET YOU THE BOTTOM LOW PRICE• HOW CAN YOU HIRE ME TO EVALUATE A BUSINESS? – I WILL EVALUATE UP TO FIVE BUSINESSES, FREE OF CHARGE IF YOU AGREE TO MIGRATE THE NEW BUSINESS ON SHOPPING CART ELITE, AFTER YOU PURCHASE IT. WE WILL HELP YOU WITH MIGRATION – TO LEARN MORE ABOUT SHOPPING CART ELITE GO TO www.bit.ly/shoppingcartelite
GET HELP EVALUATING A BUSINESS – IF YOUR NEW ONLINE BUSINESS WOULD NOT WORK WITH SHOPPING CART ELITE, I CHARGE $550 ONE TIME TO EVALUATE THE BUSINESS YOU WANT TO PURCHASE AND GIVE YOU A FULL REPORT WITH MY OPINION AS WELL AS FAIR MARKET VALUE. – IF YOU WILL WANT ME TO NEGIOTATE THE DEAL FOR YOU, I CHARGE 10% FROM WHATEVER AMOUNT I SAVED YOU DURING THE NEGOTATION.• WANT TO GET INTO A NEW BUSINESS? – IF YOU ARE IN THE MARKET TO FIND A NEW BUSINESS, I CAN LOOK AT MY CLIENT PORTOFOLIO WHO WOULD BE WILLING TO SELL THEIR BUSINESS BELOW FAIR MARKET VALUE• FILL OUT THE FORM BELOW AND GET MY BUSINESS EVALUATION EXPERTISE TODAY –www.bit.ly/igorhelpme