If you’ve ever thought about breaking into the e-commerce world, you’re not alone.
Lots of people want to start selling products online. Some entrepreneurs strive to make their e-commerce store a full-time gig. Others simply have their stores 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, but actually doing it is a completely different beast. It can be intimidating to take the leap, especially if you’ve never done that before.
That’s why some entrepreneurs decide to buy already-established Shopify sites. That way, you don’t have to build a site from scratch.
Exchange Marketplace is the place where you can do this. In this review, we’ll take a look at it and 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?
Exchange Marketplace belongs to Shopify.
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 all over the world. Its team has the experience and knowledge to facilitate the buying and selling of its stores.
Does Exchange Marketplace Work with Shopify Stores Only?
Keep in mind that as Shopify owns Exchange Marketplace, so 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 solutions that aren’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 get any easier.
Users start by visiting the platform’s catalog. There, 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 for 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 (drop-shipping, 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 next, depends on the price:
- If the listing is under $5,000, you can contact the seller right away. Just click “Request information” to ask questions and negotiate the price;
- If the listing is over $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 over $20,000, you’ll need to sync your account with your LinkedIn profile.
With this platform, selling your Shopify site is just as easy as buying one.
To sell, you have to install the Exchange Marketplace to your shop. Then, you have to 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 on your store’s is performance;
- A general description;
- Information about yourself.
Then, your listing will become available and you will 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 websites 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 a Site 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 walk this way, 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 and look for options on other platforms.