Selling an online business that you have worked hard to build can be a challenging and emotional process.
Many people don’t have the time to vet every candidate thoroughly, or they don’t know how to price their website at fair market values. They don’t want to undersell, but they don’t know how to honestly gauge its worth.
This conundrum is where online business brokerages come in to play.
Quiet Light Brokerage has gained momentum in recent years as a website broker. In this article, we explore its merits and downsides. Using our review, you can decide for yourself if the organization will be helpful in your quest to sell your business.
What Is Quiet Light?
Quiet Light Brokerage describes themselves as “entrepreneurs, just like you.”
Mark Daoust founded the company in 2006 after having a phone call with a friend, who was thinking about selling his web hosting platform. After little success with sales people, the company decided to hire entrepreneurs. They wanted people with first-hand experience starting businesses as well as buying and selling them.
In its fourteen-year history, the company has helped to sell 500 websites and garner over $300,000,000 in transactional value.
The company now has ten advisors ready to help clients get the biggest bang for their buck when selling their online businesses.
Why Choose Quiet Light?
It might be nearly impossible to get the best deal when selling your business if you don’t have someone with relevant expertise on your side. Therefore, using an online business brokerage will always be the best move.
The specific experience in online businesses brokerage allows Quiet Light to provide qualified assistance to each of its clients.
Keep reading to learn more about Quiet Light specifically, so you can determine whether it is the option that will fit your needs best.
How Does Quiet Light’s Process Work?
Quiet Light makes it clear that there is no wrong reason to sell a business, but there may be a wrong time or approach to do it. The company wants to help every entrepreneur do things at the right time and in the right way.
The Quiet Light process begins with a no-obligation consultation.
In this session, a Quiet Light advisor will work with the client to help them understand their business’s position and value.
Once this meeting is over, the client still has complete control. They decide what they would like to do next.
If the client chooses to move forward, Quiet Light will conduct a comprehensive valuation of their business.
Besides looking at financials, the company will also look at what sets the company apart from its competitors. This vetting process ensures that the price is fair and accurately reflects the value that the client’s company provides.
Partnering and Advice
Quiet Light associates act more like partners than brokers. If a client finds a more suitable candidate to purchase their company, then they can bring that suggestion to their advisor to get their honest opinion.
The company will happily offer advice to their clients even if they do not choose to sell at the current moment. Advisors vow to always tell the truth even when it is inconvenient.
It is essential to note that the process of working with Quiet Light is not one-size-fits-all. The firm will work with each client individually to determine the plan of action that best fits the situation.
Who Should Work with Quiet Light?
Quiet Light will work with any online business, including Amazon stores. The organization’s specialty is medium to large eCommerce businesses.
The company typically lists companies for as much as $5 million and as little as $100,000. If you have a seven-figure business, you will likely feel right at home working with Quiet Light.
If you have any questions about your company’s compatibility with Quiet Light, you can bring up your concerns during your no-obligation consultation.
Where Does Quiet Light Work?
Even though the company’s headquarters is in Minnesota, the company has worked to sell hundreds of businesses from a variety of locations. Its specialty in online businesses means it does not face geographical limitations .
How Much Does Quiet Light Cost?
While every situation is different, you can rest assured that you will never pay money upfront.
Your initial consultation with Quiet Light is completely free. Money will only change hands after you are comfortable with the terms you discuss with your advisor.
Are There Any Downsides to Working with Quiet Light?
You should be aware that Quiet Light operates under a decentralized system. This setup means that your experience may vary significantly depending on the broker to which the company assigns you.
If your advisor becomes unavailable for some reason, you may experience a disruption in your service. Another member of the team will work to take over your case.
Also, although most company valuations are reasonable, many clients feel there is some room for negotiation to truly get the best price. This negotiation process can take time. It is not necessarily a major inconvenience. However, it is something to keep in mind if you are looking to move as quickly as possible.
Is Quiet Light a Good Online Business Broker?
As with any business, there are both pros and cons to working with Quiet Light. Below is a quick summary of the things you need to know to make an informed decision about whether you should trust Quiet Light to handle the selling of your online business or not.
- Completed over 500 deals;
- Offers no-obligation consultations;
- Provides transparent information;
- Evaluates the entire business not just its financials;
- Doesn’t lock clients into an excessively long exclusive engagement agreement;
- Sells 47% of its listings at or above the asking price;
- Signs confidentiality agreement before receiving business information.
- Decentralized operation;
- May present delays in case of an advisor replacement.
What Should I Do If I Want to Buy My Own Business?
Overall, Quiet Light has many positive features. The company could be extremely helpful to you as you begin the journey of selling your online business.