How to Buy a Shopify Store? 9 Essential Steps You Should Take

As reported by G2 Learn Hub, global e-commerce revenues are projected to rise to $6.4 trillion by 2024.

Given the ongoing evolution of the digital marketplace, entrepreneurs are increasingly considering purchasing an existing Shopify store as a shortcut to success, offering a proven track record, customer base, and infrastructure.

In this article, we’ll delve into the ins and outs of how to buy a Shopify store, walking you through the steps you need to take to make a strategic and well-informed investment in the e-commerce industry.

Table of Contents

• What is a Shopify store?
• Why should we buy a Shopify store?
• Challenges of buying a Shopify store
• How to buy a Shopify store?
  • Step 1: Identify your criteria
  • Step 2: Search for listings
  • Step 3: Evaluate listings
  • Step 4: Contact the seller
  • Step 5: Take careful consideration
  • Step 6: Negotiate and finalize terms
  • Step 7: Conduct payment and transfer
  • Step 8: Update and optimize
  • Step 9: Market the store
• Where to buy a Shopify store?
  • Empire Flippers
  • BizBuySell
  • Latona’s
  • Flippa
  • FE International
  • Acquire
  • Quiet Light
  • BusinessesForSale
• Take action & buy a Shopify store!

What is a Shopify store?

A Shopify store is basically like your own little corner of the internet where you can set up shop and sell stuff. It’s an e-commerce platform that lets you create and customize your very own online store without having to be a tech genius.

With a Shopify store, users can design their storefront, add products, and manage their inventory easily. Shopify offers customizable templates for online store creation, payment processing, order tracking, and shipping options, making it an ideal e-commerce solution.

Read more: How to Activate Shopify Store? 12 Simple Steps

Why should we buy a Shopify store?

Depending on the goals of your business, available funds, and level of experience, purchasing a Shopify store may be a wise move for several reasons.

Here are some potential benefits:

• Established infrastructure. Buying an established online business with a well-developed infrastructure is similar to buying a Shopify site. This includes hosting, a domain name, a website, and frequently already-built e-commerce features.
• Time and effort saving. It can take a lot of effort and expertise to build an Internet store from the beginning. Purchasing a pre-existing Shopify store could save you time and effort because the foundation is ready.
• Proven track record. An established Shopify store can probably have a track record of sales, customer interactions, and market placement. You could look into its performance metrics to evaluate the store’s viability and growth potential.
• Customer base. You can get an audience right away by buying a store that already has a customer. This can help introduce new goods or services, and you could potentially receive repeat business as well.
• Supplier relationships. The store can already have a connection with suppliers, which will make it simpler for you to keep finding goods and services. This can be especially advantageous if the providers are trustworthy and have reasonable conditions.

Challenges of buying a Shopify store

Buying a Shopify store can be an attractive option for entrepreneurs looking to jumpstart their e-commerce business or expand their existing portfolio. However, it comes with its own set of challenges.

The following are some typical difficulties that come with purchasing a Shopify store:

• Due diligence. Precise financial data and knowledge of traffic sources are essential for accurate decision-making because depending on one source might be dangerous.
• Quality of assets. Assessing website design and code quality is advised, as poor design may require additional investment. Moreover, domain name quality and relevance are also considerable, because poorly chosen may impact branding and SEO.
• Supplier and inventory relationships. Review supplier contracts and relationships to ensure reliability and no outstanding issues. Also, assess inventory quality for physical products if the business involves them.
• Legal and compliance issues. The seller must ensure legal ownership of the business and its assets, avoid copyright or trademark infringement, and comply with local and international laws, including tax regulations and data protection laws.

To reduce risks and ensure an accurate evaluation of the company, it’s important to collaborate with experts like accountants, lawyers, and business brokers before completing the purchase of a Shopify store.

How to buy a Shopify store?

Step 1: Identify your criteria

So, how to buy a Shopify store? Let’s start with identifying your criteria.

Identifying your criteria for purchasing a Shopify store is necessary because it should align with your business goals, expertise, and resources. As a result, outline your strategic objectives and how acquiring a Shopify store fits into your overall business plan.

Here are some key criteria that you should take into consideration when looking to buy a Shopify store:

• Niche and industry
• Financial performance
• Traffic sources and quality
• Customer base
• Supplier relationships
• Operational processes
• Technology and platform
• Legal and compliance
• Marketing and branding
• Competition analysis
• Assets and intellectual property
• Scalability and growth potential

So, to make an informed decision when purchasing a Shopify store, conduct thorough due diligence and seek professional advice, ensuring you consider these criteria to maximize the chances of a successful and profitable acquisition.

Step 2: Search for listings

Finding the right Shopify store for purchase can be a complex and exciting process, requiring careful consideration for both aspiring entrepreneurs and established business owners, who are looking to enter the e-commerce space.

Here’s a step-by-step guide to help you navigate the search process:

Step 1: Identify your niche, assess your financial health, and evaluate your current traffic and audience to determine your business’s potential and profitability.

Step 2: Make use of internet marketplaces and firms that focus on the sale of e-commerce businesses for buying and selling online businesses.

Step 3: Utilize advanced search filters on platforms to refine your search by focusing on revenue, profit, business age, and niche to find listings that align with your objectives.

Step 4: Examine listings thoroughly, seeking detailed information about the business, including history, products, customer base, marketing strategies, financial statements, traffic sources, and customer reviews if available.

Step 5: Engage with sellers for information, ask about business performance, challenges, and growth opportunities, and request access to analytics and financial data to verify listing claims.

Step 6: Perform due diligence by verifying the legitimacy of the business, checking for legal issues, outstanding debts, and potential liabilities, and confirming asset ownership.

Step 7: Negotiate terms of a business sale, considering factors like purchase price, payment structure, and additional conditions. Also, be prepared to compromise and find a mutually beneficial agreement.

Remember that investing in a Shopify store requires thorough research, due diligence, and professional advice to ensure a successful and legally sound transaction.

Step 3: Evaluate listings

To buy a Shopify store, a thorough analysis of various factors is necessary, as acquiring an existing store can be a shortcut to entrepreneurship, but it comes with its own set of risks and considerations.

Here’s an overview to help you assess listings if you’re thinking about purchasing a Shopify store:

• Examine the store’s revenue and profit over time for consistent growth and profitability.
• Understand the various costs associated with running a business, including advertising, product costs, and subscription fees.
• Analyze traffic sources to avoid risky dependence on a single source.
• Assess customer demographics rates to ensure a loyal and engaged customer base.
• Evaluate product demand, seek proven products, and consider expansion or new product introduction opportunities.
• Examine supplier relationships to avoid risks associated with relying solely on a single supplier and explore alternative sources.
• Evaluate the overall design and user experience of the store. 
• Verify that there are no intellectual property rights violations with the store’s products.
• Understand inventory management and fulfillment processes, check inventory levels, and identify outstanding issues.
• Verify the seller’s information independently.

So, investing in a Shopify store requires thorough due diligence, open communication with the seller, and seeking professional advice to minimize risks and ensure business success.

Step 4: Contact the seller

Establishing direct communication with the seller is important in acquiring a Shopify store. This interaction clarifies uncertainties, provides business insights, assesses credibility, and negotiates terms that align with business goals, increasing understanding of store operations.

To make the most of your communication with the seller, it’s essential to pose a series of thoughtful questions that address every part of the business. Once you are ready to initiate contact, consider this comprehensive list of inquiries:

• Why are you selling the store?
• What Shopify plan is the store currently on?
• How has the store performed in terms of conversion rates, and sales over the past year?
• Can you provide detailed financial statements, including profit and loss statements and balance sheets?
• Can you share information about the demographic distribution of the customer base?
• Are there additional assets such as social media accounts, domain names, or email lists included in the sale?
• How will the transfer of ownership be handled, and what steps are necessary to ensure an effective transition?

By asking detailed questions about a Shopify store’s current state, you can establish a transparent, trust-based relationship with the seller, enabling informed decisions and a successful ownership transition, thereby enhancing the overall business experience.

Step 5: Take careful consideration

How to buy a Shopify store? Taking careful consideration is a vital component. Buying an existing online store can be an attractive opportunity; therefore purchasing a Shopify store takes careful evaluation and strategic decision-making to ensure a successful and profitable investment.

Here are some principal materials to consider:

• Review the store’s financial records and analyze the trends and growth patterns to assess the store’s financial health.
• Understand the cost breakdown to evaluate the store’s overall profitability.
• Identify the various traffic sources to the Shopify store and evaluate their diversity.
• Assess the expenses of acquiring customers through various channels.
• Understand the demographics of the current customer base to create product offerings and marketing plans that work.
• Assess the product’s diversity, popularity, competition level, and compatibility with current market trends to determine its suitability for sale.
• Assess the state of the inventory.
• Review the technical aspects of the Shopify store, including the theme, plugins, and overall user experience.
• Consider current market trends and assess whether the Shopify store is positioned to capitalize on emerging opportunities.
• Assess the business’s scalability and identify potential expansion opportunities.

To make informed decisions when acquiring a Shopify store, buyers should conduct thorough due diligence and seek professional advice, ensuring a smooth transition and a successful ownership experience.

Step 6: Negotiate and finalize terms

Negotiating and settling on conditions is one of the most significant processes in purchasing a Shopify store. At this point, many factors must be carefully considered to ensure a successful and equal transaction.

Here’s a guide on what you need to prepare and consider during this step:

Step 1: Before negotiations, establish your budget constraints for acquiring the Shopify store.

Step 2: Conduct thorough due diligence on the Shopify store’s financial records, traffic data, customer reviews, and legal obligations to identify potential risks.

Step 3: Assess the store’s key assets, such as customer base, intellectual property, product inventory, and branding, to influence the negotiation process.

Step 4: Negotiate the purchase price with both parties open to compromise for mutual benefit.

Step 5: Consult business transaction legal professionals to review purchase agreements.

Step 6: Put confidentiality contracts into place to protect trade secrets and private information.

Step 7: Develop a transition plan, involving the current owner’s training and support to ensure a smooth transition of operations.

By adequately preparing for negotiations and finalizing terms, you increase the likelihood of a successful acquisition and an excellent transition into managing the purchased Shopify store.

Step 7: Conduct payment and transfer

Making payments and transfers is an important part of the transaction process when buying a Shopify store. In this step, money is transferred from the buyer to the seller, ensuring a safe and orderly transfer of ownership.

To ensure a successful and secure payment and transfer process, there are several noticeable considerations to keep in mind:

• Develop a transition plan, utilizing the guidance and assistance of the present owner to guarantee an effortless transition of activities.
• Use secure payment methods to ensure buyer protection and avoid potential errors in Shopify transactions.
• Use an escrow service to simplify the transfer and payment process by serving as an impartial third party, building confidence, and lowering the danger.
• Establish ownership, verify the seller’s name, ask for the required paperwork, and carry out proper research to make sure the transaction is valid.
• Assess the store for outstanding liabilities and ensure the seller resolves these before completing the transfer to avoid potential issues.
• Create and sign a legal agreement outlining the sale’s terms.
• Notify Shopify Support of successful payment and fulfillment of terms to ensure consistent ownership transfer and prevent store functionality disruptions.

Buyers and sellers must follow these guidelines and exercise attention during the payment and transfer procedure to help lower risks and guarantee a secure and efficient purchase of a Shopify site.

Step 8: Update and optimize

Updating and enhancing the current aspects of the company is a must when thinking about buying a Shopify store to secure its future success and realize its full potential.

Here are parts to focus on during the update and optimization process:

• Optimize navigation to enhance the user experience by developing the store’s design.
• Review product information, images, and descriptions.
• Conduct a thorough SEO analysis to identify opportunities for improvement.
• Examine current marketing strategies to identify areas for improvement.
• Make necessary adjustments to improve the conversion rate.
• Assess the current customer service procedures and implement strategies to boost customer satisfaction and loyalty.
• Utilize analytics tools to analyze website performance, customer behavior, and sales data, enabling data-driven decision-making and identifying areas for improvement.
• Optimize payment gateways and shipping methods to ensure a reliable customer transaction experience.
• Ensure that the store complies with legal requirements and industry standards.

So, updating and enhancing the current aspects of the business is a must when thinking about buying a Shopify store to secure its future success and realize its full potential.

Step 9: Market the store

When you already have your own store, now it’s time to promote and develop it. If business owners effectively promote the store, it can help them increase traffic, build brand awareness, and eventually increase sales.

Some important things to remember are as follows:

• Analyze the previous owner’s marketing strategies, including social media, email campaigns, and SEO for their effectiveness in promoting the business.
• Engage with your target demographic on social media and create content calendars.
• Enhance email marketing by optimizing list building and creating engaging newsletters, promotions, and personalized offers to retain and attract customers.
• Collaborate with influencers in your store’s niche to expand your audience, boost credibility, and attract new customers by providing authentic reviews.
• Optimize your Shopify store for mobile users to ensure a positive user experience, given the increasing number of internet users accessing the platform via mobile devices.
• Implement unique promotions or limited-time offers to incentivize new purchases.
• Promote positive customer reviews and testimonials to significantly boost trust and credibility, ultimately influencing potential customers’ purchasing decisions.

By thoroughly marketing the Shopify store after acquisition, you can maximize its potential, reach a wider audience, and ultimately increase revenue. Never forget that dedication and adaptability are essential for long-term success.

Read more: Top 12 Strategies for Shopify Conversion Rate Optimization

Where to buy a Shopify store?

We’ve mentioned a guide on how to buy a Shopify store above. However, do you know where to get one? Don’t worry! Here’s a list of places to find a Shopify store for sale.

1. Empire Flippers

Empire Flippers is a reputable online marketplace for buying and selling online businesses, including Shopify stores. Because of Empire Flippers’ strict verification procedures, listings are ensured to be accurate and reliable, which gives buyers confidence in the quality businesses that are up for sale.

Also, support for online business transactions is provided by experts at Empire Flippers. Their staff can offer advice and address any queries you may have regarding the purchasing procedure, no matter your level of experience as a business or as a first-time buyer.

2. BizBuySell

BizBuySell provides a platform where entrepreneurs and investors can explore a wide range of businesses for sale, including Shopify stores. If you’re looking to buy a Shopify store, BizBuySell is probably an ideal choice.

BizBuySell offers comprehensive financial and performance metrics for businesses listed on its platform, enabling buyers to use past performance to make informed choices and potential future growth.

3. Latona’s

Shopify stores make up some of the online businesses that Latona’s specializes in purchasing and selling. Latona’s can be a good choice when you’re considering buying a Shopify store.

Latona’s is a specialist marketplace for buying and selling digital property because it concentrates exclusively on Internet businesses. With this expertise, you can have access to a platform that understands the distinctive potential and difficulties associated with online businesses, such as Shopify stores.

4. Flippa

Flippa offers a diverse range of Shopify stores catering to various markets and sectors, allowing customers to explore different company models, find establishments that align with their interests or skills, and choose the one that suits their preferences.

Flippa offers purchasers the tools and information to investigate Shopify store acquisitions. These resources include analytics, traffic data, and performance indicators that help assess the viability and health of a business.

5. FE International

FE International has established itself as a trusted agent for buying and selling digital assets, giving entrepreneurs and investors a transparent and efficient marketplace. FE International uses its extensive knowledge of the Shopify platform to assess the value and potential of stores.

With a global client base, FE International enables transactions for buyers and global vendors. This worldwide reach raises the possibility of finding the right Shopify store that aligns with your preferences and goals.

6. Acquire

Acquire is an online marketplace that makes acquiring and selling Shopify stores easier by bringing together buyers and sellers of pre-made online stores and sellers looking to sell their current e-commerce businesses.

Sellers on Acquire typically provide transparent metrics and performance data for their Shopify stores. This enables potential consumers to make wise choices based on key performance indicators, financial data, and other relevant information.

7. Quiet Light

Quiet Light focuses on buying and selling internet companies, including Shopify stores. It has become well-known for its proficiency in the online market and dedication to making transactions easy for both buyers and sellers.

In addition, the members of the Quiet Light team are seasoned experts with extensive knowledge in internet sales. Their expertise covers various businesses and industries so purchasers can make wise choices.

8. BusinessesForSale

BusinessesForSale is an online marketplace that connects buyers with businesses, including Shopify stores, offering a diverse range of industries and a convenient hub for entrepreneurs looking to buy existing stores.

The platform offers comprehensive information about listed businesses, including financial data, customer metrics, and operational details, allowing prospective buyers to make decisions with understanding based on their performance and potential.

Read more: 20 Best One Product Shopify Stores and Their Success

Take action & buy a Shopify store!

Have you figured out how to buy a Shopify store yet? Hope you’ve got your answers! Now let’s get started and purchase a Shopify store right away!

By following the guidelines, aspirational business owners can buy a Shopify site that is in line with their goals. To ensure a smooth purchase process, keep in mind that comprehensive due diligence, open communication with the seller, and a thorough understanding of the company’s KPIs are essential.

So, if you’ve identified a promising Shopify store that aligns with your goals and preferences, don’t hesitate – take the next step and make your purchase.