TL;DR: Be transparent about your business condition and contracts, since that is what makes a sale succeed. Wilhelm Reich of DragonFlip, the largest eCommerce marketplace in Germany, pre-vets sellers for their motivation and sells to private or strategic buyers. German banks are wary of financing buyers and strict on documents, and buyers do their own due diligence.
DragonFlip co-founder and partner, Wilhelm Reich, discusses the selling and buying market in Germany, appealing to different kinds of online business buyers, and financing options for sellers.
SELL YOUR BUSINESS FASTER IN THE EU – WHAT YOU’LL LEARN
- What is DragonFlip?
- Accessing the services of DragonFlip
- Kinds of Buyers of e-businesses in Germany
- Selling process and due diligence
- Buying Process and due diligence
- Financing options for Sellers
- Current Situation
KEY POINTS
- DragonFlip is the largest eCommerce marketplace in Germany to date. However, interested sellers would have to pass their requirements before they are taken in as clients.
- They deal mostly with either private buyers or strategic buyers. The choice would depend on the kind of business being sold, the value or cost of the business and the sellers operational set-up.
- The pre-vetting period is important to determine the seller’s motivation in selling the e-business.
- DragonFlip’s client is the seller and not the buyer. The buyer would have to exercise their own due diligence on the e-business they are interested in.
- In Germany, the eCommerce market place is still new, so most banks are wary of providing financing for buyers. These banks tend to be stricter on document requirements.
- The transparency of the seller on the business condition and contracts of the e-business is key to ensuring a successful sale.
- Direct inquiries about the eCommerce landscape or options for selling your online business in Germany to wilhelm@dragonflip.com. You may also choose to visit the Dragon Flip website for more information.
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