Starting an internet business can be challenging. You have a lot to think about, including choosing a company name, designing your online store, identifying prospective things to offer, developing marketing plans, and much more. If you're a newbie, you'll find it extra difficult. But wouldn't it be fantastic if you could only purchase a business that has achieved some degree of success? With the Shopify Exchange Marketplace, this is feasible. You may buy and sell Shopify stores without any hassles using the Exchange Marketplace, sometimes referred to as the Exchange. The marketplace offers thousands of pre-built companies in a variety of niches. Exchange will assist you in purchasing a Shopify store, regardless of whether your goal is to browse discounted drop-shipping businesses or purchase a Shopify store.

Exchange enables company owners like you to skip the initial phase of establishing an online store or to transfer your existing store to another business owner in exchange for money (that you can invest in a new venture or hold as a profit). Everything you need to know about Exchange and how to purchase a Shopify store in this marketplace will be covered in this post. Let's now go into the specifics of purchasing a Shopify Store.

How to Purchase a Store on Shopify Exchange

You must create an account in order to purchase a store from the Exchange Marketplace. You can sign up using your Facebook or Google account. After that, visit the listing. You should get in touch with the vendor straight away if you want to purchase a store for less than $5,000. Before you may contact the seller, you will be required to authenticate your account if your listing is over $5,000.

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Don't worry; the verification process is rather simple. You need to provide some information about yourself and the kind of business you're interested in purchasing. It enables Exchange to display you online businesses for sale that you might find interesting.

You must also link your LinkedIn profile to your account if you want to purchase a Shopify business that is valued at more than $20,000. This action was taken in an effort to build trust between you and the seller. The Request Information feature must then be used.

You can ask any questions you may have and talk about the listing's price here. The prices you see on the Exchange are merely a starting point, and you can still haggle with the vendor to get a better deal.

Once you and the vendor have agreed on a price, you must exchange funds to pay for the store. Escrow, a secure payment network that has now processed more than $3.5 billion in payments, and Exchange have partnered. This platform will be used if you buy a store from Shopify.

The seller must specify the terms and conditions (what is included in the sale) and the time frame before using Escrow (how long the buyer will have to search through the store after the purchase).

When a consumer accepts these terms, they must pay Escrow, which will hold the funds until all parties are in agreement that the terms have been satisfied. Escrow essentially serves as a mediator to make sure that the deal is successfully closed with all parties in a legal manner.

You must go through the procedure of giving the store the terms of sale once you have set them up. Exchange can help you with a procedure that typically takes 3-5 days, and you can always get in touch with their assistance if you have any issues while making a purchase through the Shopify Store.

More details: How to buy a shopify store Related article: How Create Subcategories Shopify