If you’ve ever thought about breaking into the e-commerce world, you’re not alone.
Many people want to start selling products online. Some entrepreneurs strive to make their e-commerce store a full-time gig. Others simply have theirs as a side hustle. Regardless, an online shop lets you pursue a passion while supplying extra income.
Wanting to open an e-commerce store is one thing; actually doing it is another. It can be intimidating to take the leap, especially if you’ve never done it before.
That’s why some entrepreneurs choose to buy already-established Shopify sites. That way, you don’t have to build a site from the ground up.
One platform you can do this on is Exchange Marketplace. In this review, we’ll take a look at Exchange Marketplace. We’ll help you decide whether or not it’s good for buying and selling Shopify Sites.
What Is Exchange Marketplace?
Exchange Marketplace is a website that lets users buy and sell Shopify websites.
Who Owns Exchange Marketplace?
Shopify owns Exchange Marketplace.
This is good news for users looking for a trusted platform, as Shopify is a well-established e-commerce company. Shopify powers over 1,000,000 stores around the world. Its team has the experience and knowledge to facilitate the buying and selling of its stores.
Does Exchange Marketplace Work with Only Shopify Stores?
Keep in mind that as Shopify owns Exchange Marketplace, the platform only lists Shopify stores.
This shouldn’t be a problem for most entrepreneurs. Shopify is a great platform with many benefits, including its user-friendly interface, attractive themes, etc.
However, if you want to find stores through other e-commerce solutions, you might want to look elsewhere. Exchange Marketplace doesn’t have stores by LemonStand, Volusion, or any other e-commerce solution that isn’t Shopify.
Is Exchange Marketplace Easy to Use?
Through our research, we’ve found that Exchange Marketplace is one of the easiest platforms for buying and selling Shopify sites.
Buying a site on Exchange Marketplace couldn’t be easier.
Users start by visiting the platform’s catalog. Here, you can browse all of the stores available for purchase.
On average, Exchange Marketplace has over 3,000 stores listed at once. This can make it difficult to find the one that’s right for you.
Luckily, the platform provides helpful filtering options. You can sort through stores by:
- Price. The platform has options for every budget. It sells stores listed for over $100,000, but we’ve seen stores as low as $140. Most stores are in the $0-$1,000 range.
- Revenue. This option lets you filter out stores by their average monthly revenue.
- Age. Some entrepreneurs want a business that has been around a while. Others might prefer a newer business that they can still mold to fit their needs.
- Business type. Determine what kind of business you want to run (dropshipping, retail store, print on demand, etc.). Then, you can narrow down your search by business type.
- Industry. You’ll want to pick a store in an industry that you’re passionate about (or at least somewhat interested in). Exchange Marketplace has stores in industries like fashion and apparel, toys and games, home and furniture, etc.
Once you find a store you want to buy, you’ll need to make an account. You can log in with an existing Shopify, Google, or Facebook account.
How to proceed depends on the price:
- If the listing is under $5,000, you can contact the seller right away. Simply click “Request information” to ask questions and negotiate the price.
- If the listing is more than $5,000, you’ll need to verify your account. You’ll have to provide information about yourself and the store you want to buy.
- If the listing is more than $20,000, you’ll need to sync your account with your LinkedIn profile.
With this platform, selling your site is just as easy as buying.
To sell, you have to install the Exchange Marketplace into your shop. Then, you create a listing. The listing includes:
- An asking price (Exchange Marketplace will provide you with a valuation based on how your store is performing, how much similar stores are going for, etc.)
- Data about how your store is performing
- A general description
- Information about yourself
Your listing will become available. Then, you just have to wait for buyers to contact you.
Keep in mind that there is no initial fee to post the listing. You will have to pay a fee based on the final sale price.
Is Exchange Marketplace Safe?
When you use Exchange Marketplace, you can rest knowing that it is a secure website.
All messages between sellers and buyers are private, which is a huge plus because anonymity facilitates safe business deals.
You also don’t have to worry about payments. Exchange Marketplace conducts transactions through Escrow. The secure payment platform acts as a middleman for the buyer and seller. Escrow holds the money and ensures each party meets the terms they agreed upon.
Is Exchange Marketplace Good for Buying and Selling Shopify Websites?
Here’s a brief summary of Exchange Marketplace’s pros and cons:
- Owned by Shopify
- Easy-to-use interface
- Simple buying and selling process
- Anonymous messaging between buyers and sellers
- Secure payments through Escrow
- – Only works with Shopify eCommerce sites
- – Can’t build website from scratch
There’s no doubt that Exchange Marketplace is secure and easy-to-use. In our opinion, it is one of the best places to buy and sell Shopify websites.
What If I Want to Start from Scratch?
Many people are eager to start selling products online. This is why some choose to buy an already-established e-commerce site.
When entrepreneurs go this route, they don’t have to worry about setting up the site, creating a brand, building a reputation, etc. They already have customers and a relatively guaranteed stream of revenue.
However, buying an already-established website isn’t for everyone. Some entrepreneurs won’t find what they’re looking for in sites created by other people. Therefore, they’ll need to start from scratch.
If this sounds like you, consider using ODYS Global. Our team will help you kick-start your first affiliate website from scratch. Apply for an account by clicking here!