What would you do if you wanted to retire? Running a successful store. Best ideas on how to do it?

[bill.purvis2012]

Okay. Please, serious responses. I am 75 yrs. old and have a number of other things I want to do in the time I have left.

I'm pretty savvy. I've been a business broker in my past, so I know how to sell a business with real estate, goodwill, inventory, etc.

This is a totally different ballgame.

I know that the account can't be sold or transferred. 

I have a successful store, inventory of about $100K retail value. 90% jewelry. Collectables. 

I'm willing to allow all pictures, listings to be transferred on active listings (3400). I can't help but think that is a big time saver for a buyer. 

I can offer some training, tips, etc. 

How would you go about it?  What value would you estimate?  Do you know anyone who has done the 'sale' well?

I would also consider a trade of assets. Something to think about. 

[isaiah53-57]

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@bill.purvis2012 wrote:

Okay. Please, serious responses. I am 75 yrs. old and have a number of other things I want to do in the time I have left.

I'm pretty savvy. I've been a business broker in my past, so I know how to sell a business with real estate, goodwill, inventory, etc.

This is a totally different ballgame.

I know that the account can't be sold or transferred. 

I have a successful store, inventory of about $100K retail value. 90% jewelry. Collectables. 

I'm willing to allow all pictures, listings to be transferred on active listings (3400). I can't help but think that is a big time saver for a buyer. 

I can offer some training, tips, etc. 

How would you go about it?  What value would you estimate?  Do you know anyone who has done the 'sale' well?

I would also consider a trade of assets. Something to think about. 

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First, I would say you would be getting out at the right time, actually a little past the right time...

2nd, I would say I pity the investor who would be taking over at this point - My guess is the time involved in creating those 3400 listings is worth little at this point - I wouldn't  transfer a store here to my worst enemy...

[dhbookds]

I'd try locally  ( in bigger cities in SC).........want ad............successful Ebay business inventory........and see what kind of responses.......

Need to have a somewhat basic inventory value figure in mind.......obviously not retail.........  just going to depend on how much + you want over that........probably not going to be worth alot more....the way I think......if the max value  is $100,000............less fees for selling......

Pretty sure listings could be transferred via a 3rd party........6 bit or one like it. 

[julian777]

I have been thinking of buying other sellers' inventory as they retire.  I think value would be determined by your sales metrics for past 3 years, current inventory listed, and inventory on hand to be listed.  Feel free to message me directly.

[rfmtm]

You can't just transfer your existing store or ID to a new owner, but using a third party listing tool you could export all your listings to sell and transfer to a new store owner to relist under their ID and ship or have them pick up the inventory locally.

You can list your business for sale right here on ebay:

https://www.ebay.com/b/Websites-Businesses-for-Sale/11759/bn_1862440

What you can sell you business for is unknown, other than to maybe look what others are getting or based on wholesale value of the inventory and/or profitability from the last year or so.

[4pawsup*]

I would think if you were to get anywhere around 10 to 15% of the retail value of your items you would be doing well. JMO

[stainlessenginecovers]

As you're probably aware, businesses sell for an average of 2.5 times the annual 'pre tax' amount plus inventory.

You sold average 140 per month, average $30? so about $4000 a month, netting about $3000 after shipping/fees.

If that $3000 cost you $1000, you are making $2000 a month, 24,000 a year.

Business is worth about $60k plus inventory (true cost, IF you are making the $2000 above)

[bill.purvis2012]

Not just interested in Ebay sellers.  Wide open market. 

[bill.purvis2012]

Yes. As I said in my post, I know the account can't be transferred. (Too bad, it has value).  My sales, profitability doesn't come to play. I'm not sell the account. 

[retro_entertainment_collectibles]

Generally rule of thumb, yes I know folks who've done this in the past.

Actionably you dump the listing to file and hopefully have the images linked to said listings in the CSV transferred.

You dont want get into anything in respect to "How did you're account perform" as it's immaterial you're simply getting rid of you're inventory, that simple.  Anything other than that you can open yourself to problems of he said/she said. 

A friend of mine does liquidations for large entities that not to say he's a buyer.  It's his job, he works for a liquidations company aka performing the liquidations (retail, manufacturing etc), he's not a buyer.  

With $100,000 non-appraised valuation anywhere between $15,000 to $25,000 is reasonable.

[bill.purvis2012]

Selling the business isn't allowed. My net numbers are better than your estimates, but I understand what you're saying.

  The real value in the business is my 100% feedback, 10+ years, Top rated Plus account---but Ebay doesn't allow sale of it.

I'm selling inventory, listed and photo, etc.  

[retro_entertainment_collectibles]

Now performing it, you want certified bank check drawn on a major bank (Chase etc).  You want a generic "As is sale" contract signed by both parties, copies to both parties.

If the buyer is local to you up to you if you want them help pack things and whomever the buyer they should be arranging the logistics.  That is to say if they are using FedEx they use their FedEx account, or arrange freighting with whomever and before anything moves that check is deposited and cleared.

[dbfolks166mt]

     If I was going to do this, which I will at some point, I would contact an auction liquidation company. I know several people that have used Rasmus Auctions to liquidate estates and assets. They are nationwide and offer a variety of services on handling the auction. There is virtually nothing they will not handle as long as it is legal, they even handle firearms and can handle logistics if that is a feature of the auction. 

     Their fees vary depending on the level of service they provide and the value of the items but they also split those fees between the seller and the buyer since they charge a buyer premium on top of the sale price of each item. It's a quick and easy way to liquidate everything without having to worry about all the details unless you really want to be involved in the process. I source quite a bit from them both for resale and for personal use especially in the firearms area and several other items that are on eBay's prohibited items list. 

     Timing may be optimal if you can get the auction completed before the holidays and the end of the tax year.

[djvp53]

That sounds very optimistic to me. There is no way I'd pay $60k plus anything for an eBay business with an inventory whose retail value is $100k. I'd want a discount from the seller's wholesale price on inventory because naturally what's left in inventory is the stuff that didn't sell as fast. I'd be surprised if inventory value was more than 15% of retail.

The rest of the business is likely worth very little. There is some limited intellectual property value in disclosing your sources of goods to a buyer and a little bit of training to get someone started. 

There isn't much to starting an eBay shop and there is little to differentiate one seller from another. A buyer isn't getting much more than some stuff to sell. 

[rfmtm]

The reason you can't sell/transfer your ebay account and all the good feedback, etc., is because ebay has no way of knowing whether the new owner will uphold all the good ratings you earned when you ran the business.  That doesn't mean you can't sell your business to another seller on ebay who can see your inventory sells and can be a viable new or additional business for them

You also could tell the buyer you will add a note and link to them in your profile or in a few active listings to promote the change and even thank your regular buyers.