Empire Flippers are the top quality website/online business brokerage in the world. Trust me, you want them to handle all the obstacles that come with these types of transactions. Simply, because there are many.
From my own experience, which has been backed up by the Empire Flippers Employees, many websites sell within a few days to a few weeks after being listed on their marketplace.
For instance, in the last 3 months, 95% of their listings have sold. Currently, they have 74 active marketplace listings that you can choose from in a wide range of prices from over $3,000,000 to under $20,000.
Whether you are looking to purchase an already established website that is proven to earn money or want to sell your website to free up capital, Empire Flippers are there to help.
Their intensive business background vetting process ensures that only quality listings are on the marketplace, which is much different than Flippa.
With this in mind, before I proceed, you can start selling on Empire Flippers right away! Or rather use Flippa – #1 platform to buy and sell online businesses.
What is Empire Flippers?
Empire Flippers specializes in helping people buy and sell online business. Empire Flippers are the number 1 “curated marketplace for buying and selling established businesses.” The company was founded in 2013 by Joe Magnotti (CEO) and Justin Cooke (CMO).
In a lay-mans language, Empire Flippers is an Inc. 5000 company and the #1 curated marketplace for buying and selling established, profitable online businesses. And has sold over $93,000,000 worth of Amazon Associates Businesses. As well as, affiliate websites, e-commerce businesses and many other types of online businesses.
What does Empire Flippers offer?
Through services like website flipping, Empire Flippers have helped people buy and sell online businesses worth over $100 million. Not to mention, their buyers and sellers span the globe. Where their fine-tuned process and team ensure you have a safe, secure online business buying and selling experience.
Surprisingly, the first website they sold on the marketplace was their own. And now, they help others around the world do the same. Whereby, at Empire Flippers, they remove friction from buying and selling online businesses.
Hmm, how shall I say it, they run things a bit, differently. By maintaining a distinct company culture that encourages their team to play as hard as they work.
Quick Facts About The Company
- Sold thousands of websites
- 88% selling success rate
- Businesses/websites must have a 6-month SOLID track record of at least $500 profit+ per month
- Businesses/websites must be using Google Analytics for at least 6 months
- Website manipulation to inflate traffic or income is unaccepted
- The use of PBN’s is noted
You can read and learn more about the team.
The services differ depending on if you are the buyer or seller, so let’s take a look at the breakdown:
What if You are a Seller?
Business Evaluation (Seller)
Use the Empire Flippers website to enter your business for evaluation.
Empire Flippers will give you an estimation of what your website or business is worth, if you are interested then you’ll be connected with a business specialist to begin the vetting process.
Business Vetting (Seller)
Before a listing goes live, the team inspects all aspects of the website or business.
During this process site ownership is verified, traffic is verified, earnings are verified and all other assets are inspected. Basically, Empire Flippers do not want junk or scam listings to tarnish their reputation. This intensive check ensures that the buyer is purchasing a quality asset.
For first time listers, there is a $297 vetting fee which ensures serious sellers but note, this is 100% refundable if a listing gets rejected. The vetting process can take around a week. New listings are posted once a week on Monday’s at 7 am EST, and an email blast to over 45,000 people shares the newly available listings.
Listing Terms (Seller)
Empire Flippers is a brokerage so they earn income from charging a selling commission.
The commission breakdown is as follows, and is based off the final selling price, not listing price: 15% for business that sell for up to $1m, 12% for business that sell from $1m – 2m, 10% for businesses that sell from $2m – 5m, and 8% for business that sell at $5m+.
Basically, Empire Flippers ask for 6 months’ exclusivity rights on the listing. Meaning that the business cannot be listed with another broker during this time. Since they put ample work into the listing on their end.
When a business is listed for sale, the seller must sign a non-compete agreement that lasts 3 years. There is no cost to the buyer for purchasing a business.
What if You are a Buyer?
Business Inspection (Buyer)
Once a potential buyer has found a listing they are interested in, they must put a 5% deposit on the listing in order to gain access to the URL, P&L, and Google Analytics.
This 5% despot is fully refundable, and a credit card can be used, but it prevents URLs and businesses from becoming overexposed by non-serious buyers. The prospective buyer will be given an Excel document that shows all income streams of the business, as well as expenses.
Business Inspection (Seller)
The document also easily shows users and page views for each month, which can be confirmed with Google Analytics access.
This phase is crucially important since it’s the buyers’ job to do their own due diligence and to make sure they are purchasing a desirable asset. If the business looks appealing, a conference call will be set up that allows an Empire Flippers representative to create a conversation between the buyer and seller.
During this call, the buyer can ask any questions that arose when looking through Google Analytics and at the P&L, along with any other business questions.
Empire Flippers Buyer And Seller
Offer and Negotiations (Buyer and Seller)
Once a decision to purchase the business has been reached, there are two options the buyer can take.
The first option is to purchase the business at its listing price, meaning once the funds are received by Empire Flippers the site is marked as sold and no other buyers can make an offer.
The second option is to counteroffer at a lower price. I think any savvy business person submits a counteroffer unless the listing is just too good to risk giving up. Once a counteroffer has been agreed upon by the buyer and seller, the offer is circulated to all other parties interested in that particular listing.
Another buyer has 24 hours to submit an offer that is 10% greater than the agreed-upon offer in order to purchase the listing. (Note I do not agree with this but will share my thoughts later in the review)
Migration (Buyer and Seller)
After the buyers’ funds have been transferred to the Empire Flippers account (I did a wire transfer), the sale is deemed closed and migration begins.
Migration can be a lengthy process taking 2-3 weeks depending on the complexity of the transferring revenue streams and accounts. Empire Flippers is a “Done-For-You” service, which means they handle all account migrations between the seller and buyer.
They ensure migration is successful and that income is being received by the buyer. If for some reason the buyer finds that information about the business was not reported correctly, they are protected by Empire Flippers.
Additionally, if the business earns less than 50% of what it was stated to earn then the sale can be reconsidered. This made me feel very comfortable as a buyer.
During the migration, all communication is handled between Empire Flippers, the buyer and seller in a “Zendesk Support” ticket.
Which is the Best Alternative to Empire Flippers?
Making a website is not such a difficult task, but selling a site online is hard. Although, not with Flippa! How is your reaction now that you have come to know that you can make money through website flipping?
Website flipping business is an expanding technology that has made money-making easy to do the task. Furthermore, it just requires a bit of hard work and lots of smart work.
And in any case, there are so many ways you can turn your interests and skills into real cash online. And in that case, working from the comfort of your home.
Flippa offers the following services;
When buying a site with a consistent income you can profit while you are enhancing it. This means that; you’ll then be able to sell it off for more than you bought it for.
1. Basic Website Flipping (Beginners Term Investment)
Whilst not necessarily “flipping” it is still a valuable business model that should be discussed. Essentially this is to build a website from scratch. And generally, doing some promotion and then selling it once it has traffic.
This method takes more time but gives greater control over choosing the direction and setting up an interesting area of the website.
2. Standard Website Flipping (Medium Term Investment)
Above all, this is the most common flipping business model. Essentially you buy a fixer-upper website with some potential, enhance it as quickly as possible and sell it at a higher price.
However, the choice of a website is the most important element here.
3. Advanced Website Flipping (Long Term Investment)
Always remember, many people buy a website for its proven monthly recurring income. And then develop that website as a long-term investment.
Whereas, this type of investor will hold onto the site for years whilst profiting from its income capacity. And thereafter, selling the website once it reaches a market threshold for an increased price.
However, this requires more money and requires plenty of patience and skill.
Read and learn more about Flippa
Basically, website flipping businesses are on the rise especially through the Flippa online platform. Not to mention, the site flipping business online will be one of the fastest growing online markets in the coming years.
Essentially the market always existed but was just overshadowed by its compatriot domain name flipping. As it becomes harder and more expensive to enter the domain name flipping industry, website flipping is poised to become the next big thing.
Everybody fantasizes of being a millionaire either by hook or by crook. But, very few are able to accomplish their dream. If a person doesn’t get the right guidance, he went off his way and, in the end, he gives up.
For your information, there are two main benefits that website flipping has over other industries. On one hand, website flipping business has a low capital investment compared to the property or domain investment.
On the other hand, there are income possibilities whilst “enhancing”. Although other investments are usually stagnant, website flipping business is completely different. Obviously, not making any money until the investment is sold.
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