Podcasts about thefbabroker

Welcome back to another episode in our long-running series The Re-Readables, where we revisit some of our favorite business books to find out if they stand the test of time. How to Get Rich was written in 2009 by author and entrepreneur Felix Dennis. Felix was the founder of Maxim magazine, and he aimed to create a book about getting rich from "someone who didn't need to write it". The result is incredibly funny, direct, and thought-provoking. Joining us this week is our good friend Coran Woodmass of TheFBABroker.com, who has just read the book for the very first time and is eager to share his thoughts. We'll be discussing the finer points of How to Get Rich, what we believe has aged the best and what has aged the worst, some of our favorite quotes, and much more.

Coran Woodmass, an FBA broker, walks through his experience in selling businesses with 7-8 figures revenue and how a seller can get to that point.WHAT YOU’LL LEARNPreparing E-business owners to SellCommon Issues in Selling a BusinessWhat Buyers in the 7 – 8 figures want to seeThe Businesses that SellPassive vs Active Approach in Buyer selectionKEY POINTS The best way to sell a business for high figures is to make the necessary preparations even before you start selling the business.Discovering what drives the trends in a product would inform on whether the business has longevity.Strategic buyers would need to feel comfortable that systems are in place for a business to continue to grow since they may not be as hands on as the owner.Diversity in both the product as well the market channels is key to increasing valuation of the business and interest of the buyer.Products that cater to specific markets that grow would be interesting for a buyer. A more active approach to buyers may lead to a better fit to the seller and perhaps a higher buying price.ITEMS MENTIONED IN THE PODCAST Facebook Group: https://www.facebook.com/groups/doubleyourexitcommunity/Website: www.thefbabroker.com---Click here to Listen, Subscribe, and Review Ecom Exits Podcast on ApplePodcastsThanks so much for joining us this week. Want to subscribe to the Ecom Exits Podcast with Nate Ginsburg? Have some feedback you’d like to share? Connect with us on ApplePodcasts and leave us an honest review!Your feedback will not only help us improve the show, but it will help us connect with more high flyers like you.Subscribe to the eCOM EXITS Podcast now

On today's episode Mike is joined by special guest Coran Woodmass, founder of TheFBABroker.com. If you're someone who's looking to sell their Amazon business, then listen to Coran break down everything you need to consider before pulling the trigger. The guys cover the best times to sell, the type of buyers in the market, and the impact of PPC advertising on your company's potential valuation. See you in the Badger Den! Episode Highlights: 4:44 Introducing Coran, founder of the TheFBABroker.com 8:10 When is the right time to start thinking about selling? 10:53 Unoptimal times to sell 12:06 The mindset of value buyers 15:33 Strategic buyers in the Amazon niche 17:30 Does advertising play a role in the selling puzzle? 20:20 Reducing percentage of wasted spend 25:00 How do buyers view advertising expenses? 26:02 The diminishing value of ACOS 31:55 What to do if you have weak advertising margins 34:25 Breaking down your ROI channels 36:20 Businesses with significant advertising spend 39:14 Project your industry's long-term future 44:40 Pro tip: Think like an investor Get all of our episodes and show notes at adbadger.com/podcast Have a question or suggestion for the show? Leave a Voicemail: adbadger.com/voicemail or 833-BADGERZ

Dan and Ian have shared many stories on this podcast of people who have escaped from the cubicle in search of location-independence. This week's episode is a little different, as today's guest left his 9-to-5 job in pursuit of entrepreneurial freedom, only to find that it wasn't what it was cracked up to be. Coran Woodmass left his job in Australia and moved to Chiang Mai, Thailand. He started building, buying and selling small web properties, but ultimately realized that it didn't make him happy. These days, Coran has moved into a field he is incredibly passionate about, advising and brokering quality deals for Amazon FBA owners through his new business, TheFBABroker.com. This conversation is about buying and selling Amazon businesses, but it's about a lot more than that too, specifically, what makes you feel satisfied and fulfilled.

Dan and Ian have shared many stories on this podcast of people who have escaped from the cubicle in search of location-independence. This week's episode is a little different, as today's guest left his 9-to-5 job in pursuit of entrepreneurial freedom, only to find that it wasn't what it was cracked up to be. Coran Woodmass left his job in Australia and moved to Chiang Mai, Thailand. He started building, buying and selling small web properties, but ultimately realized that it didn't make him happy. These days, Coran has moved into a field he is incredibly passionate about, advising and brokering quality deals for Amazon FBA owners through his new business, TheFBABroker.com. This conversation is about buying and selling Amazon businesses, but it's about a lot more than that too, specifically, what makes you feel satisfied and fulfilled.

My guest today is Coran Woodmass from TheFBAbroker.com. Coran is a business broker who specialises in sales of FBA (Fulfilment by Amazon) businesses. Today, Coran shares what he learned from his first business sales and how it affected his company’s bottom line. He offers advice to business owners about how to make their company as valuable as possible. Tune in for some solid advice on how to prepare your FBA business for the selling process. In this episode: What Coran’s first business taught him about customer service. How one small change can dramatically change your profitability. What is cash on cash return? The business models that can be sold (and the ones that can’t.) 6 key points sellers need to consider when evaluating their business. How expanding your business can add value. Common stumbling blocks in the sale process. The importance of integrity. How to prepare for the sale of your company. Avoiding seller’s remorse. The unexpected surprises that come up for business owners. Preventive measures sellers can take to make the sale process easier.

http://www.tropicalmba.com/amazon2/ This week's episode represents one of the most promising and immediate opportunities for starting a business on the internet. Dan and Ian have spoken at length about Amazon on this show in the past. Time after time, they have heard stories of success from other entrepreneurs. A year ago, they explored some of these same ideas on an episode that was one of the most popular and controversial episodes we've ever done. Kevin Graham joined us for that episode. He runs a portfolio of almost 60 Amazon product review websites, and is the founder of Bulk Buy Hosting. Kevin agreed to speak with us again today, along with Coran Woodmass, whose company TheFBABroker.com brokers Amazon based eCommerce businesses. On today's show, Kevin and Coran speak at great length about the types of successes that people are having on Amazon, the criticisms of Amazon based businesses, and what kind of opportunities exist in this marketplace for entrepreneurs of all types. 

Today We learn more about how to sell your eCommerce business with Coran. In Part 1 we spoke with Coran Woodmass from theFBAbroker.com about how to make your FBA business worth buying in the first place. In this episode, we look at who the buyers are. Who are these people? Why are they buying Amazon businesses instead of investing in stocks and shares and bonds and other investments? The Current Market The bulk of the market right now is $100,000 - 500,000 businesses. That’s also where the bulk of the buyers are looking. Did you know that 70% of the buyers are 100% new to Amazon? And most are new to eCommerce as a whole. The attraction to FBA businesses is the same thing that got us all into it in the first place: they’re very easy to run and the return on capital for inventory is really good. As a secondary investment getting access to that capital return on inventory itself is very appealing. Most buyers are high 6-figure executives, who have a lot of savings. They’re looking to either quit their job and start something with less time involved, or they’re looking at it as just an investment. The latter is the biggest buyer pool. The information from Part 1 about making your business saleable and attractive to a buyer is to attract this type of buyer. They’re more of an investor, they have less time to manage the investment but they’re looking for a better return than on stocks or bonds. Positioning to Sell Your eCommerce Business A small percentage of that market are strategic buyers, but they’re few and far between which is why you want to position your business for the wider investor audience. Those high paid executive investors are going to have a very corporate mindset. If they’ve only just started looking at FBA businesses they’ll be most appealed to the history and clean books. For the most part the more research they’ve done into the industry, the looser they’ll be with their criteria and more understanding and less nervous. They typically don’t buy very fast if they’re a very new buyer, there’s a lot of education that needs to come into play for them to feel comfortable to move forward, to understand what is a good business and what isn’t a good business. A much smaller area than $100-500K are businesses that are selling the $1 - 5 million. As you would expect there are fewer buyers that have over a million to spend. In that range, you’ll see very sophisticated, strategic buyers. You won’t get past them if you’re dodgy. You’ve got to be very up-front and honest about the good and the bad if you want to sell your eCommerce business. At this level, the buyer is commonly an operator that has raised capital or a couple of investors getting together. Also, it might be someone looking to consolidate some brands and sell them on to an equity fund down the track. At the top end of the 5 million range, and over $5-10 million, it is definitely the playground of private equity funds. The multiples can get quite interesting at that point! The Selling Process Every broker does it a little bit differently but there is a general overview. Firstly, a buyer will start looking for a business and it will take them a while to figure out exactly what type of business they want. Typically there’s a very high funnel at the top, with lots of inquiries. Most brokers don’t reveal your brand or links to anything personal at the top of that funnel. In the second step, the buyer will say yes. They want info about the business. That’s when you can start engaging with the potential buyer. There will be some sort of call process, they’ll want to meet you. At this stage, it’s important to be very responsive and very upfront, because remember the buyer is also buying YOU as part of the deal. They need to trust not only that your business is doing what it says, but also to trust you enough to know that after the sale you’re not just going to disappear. Step three is the offer stage, the fun part!

The guest today is Coran Woodmass from The FBA Broker. Coran specialises in buying and selling FBA businesses. He has been involved in buying and selling online-based businesses for 4 years. He learned by trial and error and then expanded to share his knowledge and expertise with others as a broker. In June 2016 Coran launched theFBAbroker.com which focuses exclusively on e-commerce businesses that have an Amazon component for at least one channel of income. Today he will be teaching us how to sell your Amazon business. Logistics to Sell Your Amazon Business The tricky part is that Amazon owns your listings which can make it a bit confusing. You can sell your Amazon business but it boils down to what type of FBA business you have. Firstly, retail arbitrage type businesses, for the most part, aren’t sellable because there isn’t a specific supply chain that is scalable. Even if it’s making good money it isn’t attractive to buyers. There needs to be an ongoing supply chain in order to have ‘sellability’. More traditional wholesale or retail businesses are sellable, despite similarities with retail arbitrage. Some have been in the marketplace for 5, 10 or 15 years. They have a supply chain setup. They have exclusive contracts or the ability because of volume to get really large discounts. The major difference is that there is a solid supply chain that you can hand over. Buyers want economies of scale, exclusivity, solid supply chains, and history and that makes it easier to sell your Amazon business. Sell Your Private Label Business Private label also depends because it can be broken down into further categories and these days buyers are more savvy about private label. It needs to have something unique or proprietary or patented that is differentiating the product/s from the rest of the marketplace in order to be sellable. Private label as a type of business is not a ‘buy and forget’ option. If you have this type of business you must create something unique (e.g. bundling items is very popular) that makes your business more sellable in the private label space. How to Value a Business There are nine factors that are critical when valuing a business. The type of FBA business. The more defensible and sustainable your business is the better. A brand registry is one version of defensibility that also helps. The age of the business. You can’t shortcut this. The longer the business has been in existence, the longer the history, therefore the more attractive it is to buyers. The income channels. The more income channels the better. Buyers are interested if you have multiple channels, in multiple Amazon stores, and other platforms such as your website or eBay as well. The percentage of income coming from another channel (and that channel also needs to have history) needs to be at least 30% in order for it to really be counted as another channel. Having 98% from the one Amazon store and 1% from a different Amazon store and 1% from your website doesn’t cut it. The time needed to run the business. If it’s more than 10 hours a week it will limit your buyers. The least amount of owner time needed, the more attractive your business will be to buyers. The history and account health of the business. Buyers are getting savvy with things like reviews, seller metrics, A-Z compliance etc. Access to the AMS doesn’t necessarily add to the multiple but makes your business more interesting. Competition. Buyers are interested in what type of competitors you have, how sophisticated they are and how many new competitors are entering the market month over month. If there are a lot of competitors in your one vertical or highest selling products then it may be worth diversifying to make your business more sellable. The trend of the business itself. A few year’s history helps here, so you can look year over year and see the trend of the business overall. How much cash flow the business makes.