Find Alternatives to Shopify Exchange for Buying and Selling Online Stores

Table of Contents

1. Introduction
2. The Closure of Shopify Exchange
3. Alternative Sites to Buy and Sell Online Stores
   1. Flippa.com
   2. Open Dot Store
   3. EmpireFlippers.com
   4. Fe International
4. Reasons to Consider Selling on Established Marketplaces
5. Building and Selling Your Own Store: The dropship Blueprint
6. Conclusion

The Closure of Shopify Exchange and Alternatives to Buy and Sell Online Stores

Introduction

Shopify, the popular e-commerce platform, recently closed its official marketplace, Shopify Exchange, leaving many online store owners wondering where they can buy and sell their sites. In this article, we will explore alternative sites for buying and selling online stores and discuss the reasons behind the closure of Shopify Exchange.

The Closure of Shopify Exchange

On November 1st, Shopify officially closed the doors to its marketplace, Shopify Exchange. This platform allowed sellers to list their Shopify stores for sale, providing potential buyers with real numbers such as website visitors and revenue. However, the price of the store and the net profit margin were solely determined by the sellers. The hands-off approach of Shopify Exchange meant that the listings were not thoroughly vetted, leading to inconsistent experiences for buyers and sellers.

The closure of Shopify Exchange after five years of operation can be attributed to the challenges of running an online store marketplace. Shopify's primary focus is not on providing a marketplace but rather on offering a robust e-commerce platform. The lack of proper vetting of stores and inconsistent experiences impacted the reputation of both Shopify and the sellers on the platform.

Alternative Sites to Buy and Sell Online Stores

Fortunately, there are several alternative sites where you can buy and sell online stores. Let's explore some of the most reputable platforms:

1. Flippa.com: One of the longest-running sites in the industry, Flippa is similar to Shopify Exchange in its approach. However, Flippa does not conduct extensive due diligence on listings. While it is suitable for selling stores without an established history or consistent profits, it is not recommended for buyers who are new to e-commerce or looking to acquire a store. Building a store from scratch may provide better long-term value.

2. Open Dot Store: Open Dot Store operates differently from traditional marketplaces. Instead of listing stores, they buy established stores that meet their criteria. To qualify, a store must have an annual revenue of over $500,000. If your store meets their criteria, you can submit your store details for evaluation, and if approved, they will make an offer to purchase your store.

3. EmpireFlippers.com: Empire Flippers is a highly reputable platform that thoroughly vets all the stores listed on their marketplace. They have built a strong reputation among buyers and sellers, with many successful store exits and competitive multiples. If your store has a valuation of at least $30,000, Empire Flippers is a highly recommended platform. They are currently offering a 25% discount on their brokerage fees for Shopify store owners affected by the closure of Shopify Exchange.

4. Fe International: Fe International is another well-established business broker with a long history of successful store sales. If you were considering selling your Shopify store through Shopify Exchange, it is worth exploring Fe International as an alternative. Compare their marketplace and current multiple offerings with Empire Flippers before making a decision.

Reasons to Consider Selling on Established Marketplaces

For sellers, selling their online stores on reputable marketplaces like Empire Flippers and Fe International offers several advantages. These platforms conduct thorough due diligence on listings, giving buyers confidence in the quality and potential of the stores. Additionally, these marketplaces attract serious buyers with real investment capital, increasing the likelihood of a successful sale at a favorable price.

Building and Selling Your Own Store: The Dropship Blueprint Approach

While selling a store on established marketplaces can be a lucrative option, some e-commerce entrepreneurs prefer building and selling their own stores. This approach, often referred to as the Dropship Blueprint, includes creating a store from the ground up and selling it after a few years of growth and profitability. By following this blueprint, sellers can maximize their returns and maintain control over the entire process.

Conclusion

Although the closure of Shopify Exchange may have left some online store owners in a dilemma, there are alternative sites available for buying and selling online stores. Platforms like Flippa, Open Dot Store, Empire Flippers, and Fe International offer various options depending on your specific needs and preferences. Whether you choose to sell on an established marketplace or build and sell your own store, it's essential to analyze the market and make an informed decision. Take advantage of the opportunities available and leverage reputable platforms to achieve your business goals.

Highlights

• Shopify Exchange, Shopify's marketplace for buying and selling online stores, recently closed its doors, leaving store owners searching for alternatives.
• Alternative sites for buying and selling online stores include Flippa.com, Open Dot Store, EmpireFlippers.com, and Fe International.
• Sellers should consider established marketplaces like Empire Flippers and Fe International for their thorough due diligence and access to serious buyers.
• Building and selling your own store, following the Dropship Blueprint, can be a profitable option for e-commerce entrepreneurs.
• It is crucial to analyze the market and make an informed decision, taking advantage of the opportunities available on reputable platforms.