Follow The Data host Cam Yoder chats with Greg Elfrink, Director of Marketing at Empire Flippers, about the growing trend of buying or selling Amazon businesses.
The topic of how to sell an Amazon business dominated discussions in the FBA community throughout 2020 and persisting into the first quarter of 2021.
As companies centered around buying Amazon businesses raise hundreds of millions in venture capital funding, it’s apparent the market is growing for buying or selling online businesses. And with every massive funding round announcement, a brighter spotlight is placed upon how profitable FBA can be.
Emerging markets like this are often flush with unanswered questions that lack trustworthy leaders, so we spoke with Greg Elfrink of Empire Flippers to find out the facts about buying or selling online businesses.
With nearly a decade under its belt, Empire Flippers serves as one of the first marketplaces for e-commerce businesses, and they’ve been an industry leader ever since.
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During our discussion, Greg lays out the landscape of e-commerce business transactions in 2021, what goes into a valuation of an online business, and much, much more.
Expect to walk away from this episode knowing what steps you need to take to set your business up for long-term success and to get insider-perspective from one of the top Amazon brokerages in the world.
PODCAST HIGHLIGHTS
Get up to speed with Greg and his unique journey into e-commerce. (0:21)
Like many sellers, Greg had an interesting background before making the leap to e-commerce. Learn how Greg went from working on an oil field in Alaska to helping Empire Flippers make its mark as an industry leader.
Empire Flippers were one of the first online marketplaces for Amazon businesses. What was it like being an innovator at the start, and how has the industry changed lately? (3:01)
The Empire Flippers team has overseen the transformation of the Amazon business marketplace. While Greg wasn’t with Empire Flippers at the start, the practice of buying or selling online businesses has taken off during his tenure. Greg shares his perspective on his experience and how much things have changed in a brief amount of time.
Cam asks the burning question: is now the right time to sell your business? (15:45)
With more capital than ever behind the companies buying up small Amazon businesses, it’s never been a better time to sell an e-commerce business. With this in mind, is now the time to sell and cash in? Is it just the beginning?
Greg breaks down the questions you should be asking yourself to deduce if selling your business is right for you.
How long should your Amazon business operate before considering selling? (22:48)
The markedly increased flow of venture capitalist money invested into e-commerce businesses validates the unbound potential of starting an FBA business. The prospect of flipping an Amazon business invites a new type of Amazon seller, who may be looking to start fast, sell off, and repeat. But the life cycle and growth of an Amazon business provides a wrinkle in that strategy. Greg masterfully explains how long an Amazon business should be active before selling.
Before we say goodbye, Greg leaves us with some last words of advice (42:32)
Although we put Greg on the spot for wisdom on demand, he didn’t disappoint. When it comes time to sell an Amazon business, it’s understandably difficult to do so. After all, these successful Amazon businesses provided life opportunities, and it’s only natural that emotions get in the way. As Greg explains, be sure to fall in love with the process, not the business.
A special thanks to Greg for his time and valued expertise on the show! Additionally, if you have any questions for Greg or want to reach out about selling your Amazon business, you can get in touch with him at [email protected].
Lastly, if you have an Amazon business, be sure to check out Empire Flippers’ free Valuation Tool! It makes finding out the value of your business quick and easy.
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