Never is it easy to start your own business because you have to take many things into consideration. It will take you a lot of time to decide on your products, a brand name, an unique logo as well as a theme for the website. But don’t worry because thanks to Shopify Exchange – a marketplace powered by Shopify, you can buy a Shopify store to start your own business immediately.

In this article, LitExtension – The #1 Shopping Cart Migration Expert will cover everything you need to know about Shopify Exchange – How to Buy a Shopify Store on this marketplace:

Stay tuned and you will find something beneficial!

How To Exchange Shopify Store on Shopify Exchange Marketplace

Step #1: Find the Right Shopify Store on Exchange Marketplace

Shopify businesses of various sizes and types are available on Shopify Exchange. Before you’ve accessed the available listings, decide on your targeted industry, estimated budget, time, and resources to invest in the business. You can create a list of potential businesses for sales and research them thoroughly.

Before buying a Shopify website for sales, you ought to pay attention to the theme of the website. It’s really important to make a great impression on your customers whenever they visit your website. Therefore, choosing the right Shopify theme for the website contributes to success.

Don’t despair if you wanna switch the theme after the purchase. Shopify allows users to change the current theme anytime.

Check this out: 10+ Best Shopify Themes – Have You Got One?

Step #2: Contact Website Seller on Shopify Exchange

After selecting an interested store, contact your seller via Exchange’s secure messaging platform to obtain additional information.

Shopify will require ccount verification on Shopify Exchange when you request a Shopify business for sale with a price greater than $5000 from the seller. However, you must link your LinkedIn profile to your Shopify account if the business price is about $20,000 or more.

Step #3: Conduct External Research

While you wait for the seller to respond on Shopify Exchange, it is always a good idea to do some more research on them by checking their forums, social media accounts, and reviews in other communities as well.

You’d better scrutinize meticulously all aspects, including the owner, taxes, financial details, legal verification, website traffic, offered products, operational processes, and customer information.

Tools like Moz and SEMrush are extremely effective in evaluating the traffic in comparison to the Exchange-shared details. Do not overlook the associated discrepancies because they are potential red flags.

Step #4: Reach an Agreement

When you are satisfied with the seller’s responses and information, it is time to make an offer and pay in full at the time of sale. Don’t forget to utilize your negotiating skill to get the best deal with Shopify Exchange.

Step #5: Wait for the Transfer of Ownership on Shopify Exchange

When the seller accepts the offer, they will create an Escrow transaction and you receive an email notification.

Step #6: Examine and Approve Your New Shopify Store

Shopify Exchange suggests a period of time from three to 30 days for inspection. Make certain that you have full access to the domain name, apps, advertisement account, physical inventory, and social media accounts. You should inspect these assets and never export data, payment settings, products, or shipping information. Making changes or exporting information can result in the automatic termination of the inspection period and the seller receiving the payment in full.

Step #7: Now You Are the Owner

Within 3 business days of receiving the assets, Shopify replaces your staff account with an administrator. You will be notified via email once the process is complete.

Escrow accepts the payment and transfers ownership of the site to the new buyer.

Now you may want to learn:

These tutorials are helpful for you to achieve your business purpose!

6 Things To Consider When Buying A Business On Shopify Exchange

Before you pull the trigger, do some research to ensure that you’re getting the best deal. The deeper you get into the field, the more successful deals will be. There are a few recommendations that help you vet options during your initial search if you’re buying a Shopify store on Exchange.

#1. Identify Your Goals

Setting goals is the first step in turning the invisible into the visible. – Tony Robbins

Determine the end result you want to achieve before you begin browsing Shopify Exchange, as it is easy to become distracted by all of the stunning websites in the marketplace.

Are you looking for a website that sells products in the same industry as your current eCommerce venture?
Do you want a revenue-generating website?

Asking yourself these questions will help you stay focused on what’s most important to your business and will speed up the search process.

#2. Learn How to Use the Website

Learn how to use the features of the website, particularly the how-to search function. It allows you to narrow down the number of Shopify sites for sale based on price, age, business type, and industry. With Shopify Exchange, you can also sort the results and see average Shopify store revenue. Be familiar with the various features to have a more effortless buying experience and to save your time.

If you’re having trouble navigating Shopify, you can also ask for assistance. There is a help center available to users to answer their questions. Because most inquiries are similar, FAQs are also posted to answer your questions.

#3. Study Key Metrics Properly

You have probably found a few Shopify Exchange websites that pass muster after you identify your goals and become acquainted with the search process.

In order to narrow your decision even further, you should thoroughly read through each listing and identify the metrics that are important to you. Shopify Exchange facilitates this process by including sections in each listing for sellers to publish their:

Business story
Performance
Expenses
Monthly sales

As previously stated, one of the benefits of Shopify Exchange is that some of the metrics are verified by Shopify.

#4. Ask Questions

Does the store on Shopify Exchange have clear targeted customers?

Be mindful of whether the current customers of the store match your target audience or not. While content and SEO keywords can be manipulated, replacing the defined target audience with another is nearly impossible. As a result, you should double check the existing customers of the store and make sure they are suitable for both your products and your target customers.

Does the store have good SEO performance?

Search Engine Optimization, or SEO, can be both intimidating and exhausting so you should always check the SEO performance of the website. Firstly, determine how much of the traffic is generated by organic search. Then ask a question: Will target audiences search for the keywords listed?

An eCommerce website with high SEO rankings may be costly, but it is worthwhile as target customers can reach your site and products easily through their search bar. Doubtlessly, top results on SERP gain more visitors, leading to more customers and sales revenue.

Aside from that, there are some other important factors to consider for yourself:

Has the domain been active since the company’s inception? Even if you optimize everything, businesses that have been around for a short time usually do not make it to the top rankings.
Has Google imposed any penalties? When Google detects and penalizes a website for using unethical SEO tactics, it is extremely difficult to save it. So make sure you know if the store you’re going to buy from has ever been through anything similar.
Has store traffic increased steadily? A steady growth somewhat indicates a strong and ethical SEO effort, whereas abnormal fluctuations may indicate a store’s reliance on ads and other unethical SEO tactics.
Can you use the organic keywords that drive the majority of site traffic in the next period of time?

#5. Learn How to Negotiate

If you are not willing to pay a listed price based on your assessment of the metrics and assets included in the sale, you can submit another offer on Shopify Exchange.

It is a good idea to evaluate the website based on your eCommerce experience. If you can provide a compelling reason for making a lower-than-asking-price offer, both you and the seller will feel satisfied with the transaction.

#6. Ask for Help from the Previous Owner

The previous owner is the one who grasps the company best. If you are already running the business, you can ask for their phone number to ask questions. You can inquire about strategies to assist you or inquire about solutions to problems you are experiencing. Store sellers are willing to help new owners overcome obstacles and create new opportunities for the business.

Want to Migrate to Shopify

If you are intending to migrate to Shopify, LitExtension offers a great migration service that helps you transfer your data from the current eCommerce platform to a new one accurately, painlessly with utmost security.

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Shopify Exchange Marketplace Review

Shopify Exchange – Pros

Convenience

The first advantage is the convenience of Shopify Exchange, as it provides documentation, timeframes, and other resources so that you don’t have to worry about anything while still ensuring transaction processing quality.

Time-saving

Shopify Exchange not only offers the store you desire but also helps you to save time and energy selling products. Because Shopify automates the listing process, the automatically important metrics are displayed to anyone who is interested.

Various Retailers

There are numerous types of stores that you can sell in. Retail stores, dropshipping stores, and other types of eCommerce websites will be able to appear on Shopify Exchange and function properly.

Transaction Security

A buyer makes an offer to purchase a business on Shopify Exchange Marketplace at the price that they want to pay. Buyers and retailers can now begin the payment transaction through Escrow with secure store transactions after accepting an offer. From there, Exchange will play a role in ensuring that buyers can securely transfer the store and sellers can receive funds from Escrow.

Shopify Exchange – Cons

There is a reason why Shopify sellers are selling the stores.

The main issue here is that the eCommerce stores are being sold for a reason when they could be profitable right now.

The owners sell Shopify stores due to a lot of reasons. In some cases, they want to sell Shopify stores because the majority no longer desire the product. Or the product was a seasonal item, such as summer swimwear or winter sports gear. Consider browsing Shopify Exchange and discovering that many of the stores are currently closed for business. So, even if you buy from a profitable company, you still need to re-open the store and pick up where it left off.

Metrics in business can be manipulated.

Because there are so many bogus sites and metrics on Shopify Exchange, the listed business metrics may be manipulated.

In some cases, you may notice that your website has been contaminated with a number of brands. As a result, you’ll need to use a third-party app to analyze the site’s traffic to see if it’s getting enough visits per month to justify the metrics you’re currently seeing.

What Is Shopify Exchange Marketplace?

Shopify Exchange Marketplace is an open place where you can buy and sell an online Shopify business. With Exchange Marketplace, you can now easily own and develop a business by yourself without concerning those preceding questions.

Entrepreneurs have offered their Shopify stores for sale to interested buyers. So you just simply select and buy websites you feel satisfied with.

If you haven’t known how to sell on Shopify, don’t worry because we put everything about Shopify and tips to double Shopify sales as follows:

Why Shopify

Shopify is a subscription-based software that enables users to create an online store and sell their products. With Shopify, you can quickly launch your dream business and begin selling to customers no matter where they are. And if you want to customize your store or even get in on the ground floor, the Shopify App Store and Shopify API Key: Easiest Guide to Get in 2022 make it simple.

Otherwise, you can purchase a Shopify store through Shopify Exchange to make use of an available online store.

You might want to learn more:

How Does Shopify Exchange Work?

Exchange by Shopify is intended to make it a piece of cake to sell and buy online stores. Merchants who list their Shopify stores for sale furnish basic business information such as revenue and traffic figures. Those reports are extracted directly from Shopify and cannot be falsified.

Sellers also set the price for their store, which can range from $50 for small startups to $1 million for big stores.

Shopify authorizes all data provided in listings and does not allow the seller to manipulate the figures to reduce fraud and other malpractice issues associated with Exchange Marketplaces. Shopify also prepares detailed sales data for buyers to properly assess business performance data in real-time for greater transparency.

To be featured in the Shopify Exchange marketplace, a store must meet the following requirements:

The seller must be the legitimate account holder.

The e-store cannot be in a trial period.

The Shopify account must be on a paid plan, not a free one.

Shopify payment accounts must be in good standing.
The seller’s account doesn’t have active Shopify Capital financing.

If a store fits the bill, it can be included in the marketplace listings. Buyers can then search through the listings by navigating the categories with filters. This will allow them to find the exact type of store they are seeking.

The marketplace also employs Escrow to safeguard all payments, so you can be confident that it is a completely secure environment.

3 Reasons Why Choose Shopify Exchange

#1. Time and Effort Saving

It usually takes a few months to conceptualize your business ideas and website. However, by using the Shopify marketplace Exchange, you will have a ready-to-go business and website instead of creating a new Shopify store from scratch. You can build businesses by selecting from thousands of start-ups.

Besides, time is another important factor in the return on investment of a business. The longer you wait to start selling on Shopify, the less likely you are to profit right away. With Shopify Exchange marketplace, you can save your time so as to concentrate on business strategies to boost your Shopify sales.

#2. Wide Range of Options

The cost of a store on Exchange ranges from around $50 to a whopping $1,000,000. They also come in all shapes and sizes, as well as from all niches and industries. There are numerous options for you, so all you need to do is to take time to find the best.

#3. Authorized Site

Purchasing a Shopify store on Exchange Marketplace entails investing in a legitimate product. This provides you with dependability and ensures the security of all your transactions. When you buy a Shopify website, you don’t have to worry about fraud or any other type of malpractice.

Shopify Exchange – FAQs

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Wrap-Up – Is Shopify Exchange For You?

We’ve walked you through very detailed information about Shopify Exchange and how to buy an online store on Shopify marketplace. Obviously, Shopify Exchange Marketplace is an ideal hub for you to browse and buy a ready-made business. We hope that you find our comprehensive article helpful for your business journey. Nothing is impossible when you take your first step. Try Shopify Exchange now and get the best Shopify stores available!

If you already have a website of your own and are considering moving to Shopify, LitExtension – #1 Shopping Cart Migration Expert can be your perfect partner. With over 10 years of experience, we are the industry leader in shopping cart migration.

In case you have any questions or inquiries, don’t hesitate to contact our 24/7 customer support team to get your problems resolved as quickly as possible.

Last but not least, please join our Facebook Community to learn more tips and tricks to launch your Shopify business for sale and stay up-to-date on all the eCommerce news.