{"id":780,"date":"2021-12-22T04:47:03","date_gmt":"2021-12-22T04:47:03","guid":{"rendered":"https:\/\/uk.legalvision.com.au\/?p=780"},"modified":"2022-06-03T05:41:27","modified_gmt":"2022-06-03T04:41:27","slug":"purchase-online-business-england-wales","status":"publish","type":"post","link":"https:\/\/legalvision.co.uk\/business-sale-purchase\/purchase-online-business-england-wales\/","title":{"rendered":"How Do I Purchase an Online Business in England and Wales?"},"content":{"rendered":"\n<p><span data-preserver-spaces=\"true\">Purchasing an online business is a big step. Much like purchasing a physical business, you should do thorough legal and market research. This will help you assess the risks associated with purchasing an established online business and give you an idea as to its value.\u00a0<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Legally, purchasing an established online business is similar to purchasing a physical one, but some features may be slightly different. This article will highlight some of the critical commercial factors to keep in mind when purchasing an online business.\u00a0<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">Identifying a Good Online Business<\/span><\/h2>\n\n\n\n<p><span data-preserver-spaces=\"true\">An online business is typically a business model where most of its transactions occur over the internet. Some key examples of an online business include:<\/span><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><span data-preserver-spaces=\"true\">e-commerce;<\/span><\/li><li><span data-preserver-spaces=\"true\">software;<\/span><\/li><li><span data-preserver-spaces=\"true\">virtual services (such as app development, graphic design);<\/span><\/li><li><span data-preserver-spaces=\"true\">social media websites; and <\/span><\/li><li><span data-preserver-spaces=\"true\">online courses.<\/span><\/li><\/ul>\n\n\n\n<p><span data-preserver-spaces=\"true\">You should first identify the online business you wish to purchase. In doing so, there are certain<\/span> factors <span data-preserver-spaces=\"true\">to look for to assess whether the online business is valuable. These include:<\/span><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><span data-preserver-spaces=\"true\">website traffic;<\/span><\/li><li><span data-preserver-spaces=\"true\">search engine optimisation; and<\/span><\/li><li><span data-preserver-spaces=\"true\">growth statistics.<\/span><\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">Website Traffic<\/span><\/h3>\n\n\n\n<p><strong><span data-preserver-spaces=\"true\">Website traffic<\/span><\/strong><span data-preserver-spaces=\"true\">&nbsp;is essentially the online presence of the business. It reflects how many potential customers are visiting the website in a given amount of time. It may be worth requesting analytics on web-traffic volume from the online business owner.&nbsp;<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">Search Engine Optimisation<\/span><\/h3>\n\n\n\n<p><span data-preserver-spaces=\"true\">It will also be worth checking if the company is\u00a0<\/span><strong><span data-preserver-spaces=\"true\">search engine optimised<\/span><\/strong><span data-preserver-spaces=\"true\">. Search engine optimisation (or &#8216;SEO&#8217;) is the process of improving the quality and quantity of engagement with a website by making it &#8216;search engine friendly&#8217;. This may mean that the website is likely to appear on search results because the website has specific commonly used keywords.\u00a0<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">Growth Statistics<\/span><\/h3>\n\n\n\n<p><span data-preserver-spaces=\"true\">Finally, you will also want to look at growth statistics. This may be relevant, as online businesses can be particularly fast-growing, and this will affect your purchase price. This will be especially important if it is a new business, and it can inform your strategy for reaching your customer base.&nbsp;<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">Online Business Assets<\/span><\/h2>\n\n\n\n<p><span data-preserver-spaces=\"true\">In addition, you will also want to consider the <a href=\"https:\/\/legalvision.co.uk\/business-sale-purchase\/share-sale-vs-asset-sale\/\">business&#8217; assets<\/a>. Typical assets for an online business will include intellectual property and a domain name. Intellectual property can include trademarks, copyrights, and possibly even patents (each of which can be highly valuable).<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Marketing Strategy<\/h3>\n\n\n\n<p><span data-preserver-spaces=\"true\">Another asset (which may not be reflected on a balance sheet) might be if the online business has an established <\/span>and reputable <span data-preserver-spaces=\"true\"><a href=\"https:\/\/legalvision.co.uk\/ecommerce-online-business\/email-marketing\/\">marketing strategy<\/a>. This can help further grow the image and brand of the business, which is necessary for overall growth. Along this vein, good web design and graphic design go a long way in running a successful online business. It is all the better if the online business already has this, as it saves you the effort of hiring a web designer.\u00a0<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Physical Assets<\/h3>\n\n\n\n<p><span data-preserver-spaces=\"true\">One way online businesses differ from physical businesses also concerns assets. If most of the business is online, it may not have physical assets (e.g. land or a lease over land). As physical assets are usually quite valuable, this will also affect the purchase price of the online business.&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Because of this, it will be essential to make sure that you have a complete list of all of the company&#8217;s assets. At the same time, you will want to make sure that you know of some of the costs. <\/span><\/p>\n\n\n\n<div class=\"box box--icon box--info\">\n<p><span data-preserver-spaces=\"true\">For example, costs may come from employees who are bound to the business (usually through employee contracts). However, this may be unlikely in the context of certain online businesses such as e-commerce websites, which one singular person may run.&nbsp;<\/span><\/p>\n<\/div>\n\n\n\n<p><span data-preserver-spaces=\"true\">In any case, it is a good idea to make sure you have thoroughly researched all of the details of the business. It will also be good to speak to a trusted business consultant for advice.&nbsp;<\/span><\/p>\n\n\n\n\n<a href=\"#content-next\"\n   class=\"block p-4 mt-10 text-xl font-bold text-center text-white no-underline bg-gray-800 rounded-t-xl\">\n    Continue reading this article below the form\n    <i class=\"text-xl fa-regular fa-arrow-down\"><\/i>\n<\/a>\n<div class=\"px-6 pt-10 pb-12 mb-10 text-center bg-gray-100 rounded-b-xl sm:px-12 test\">\n    <div class=\"mb-8 text-2xl font-bold text-orange\">\n        Need legal advice?\n        <br>\n        <span class=\"text-lg not-prose\">\n                            Call <a href=\"tel:+448081968584\" class=\"not-prose\">0808 196 8584<\/a> for urgent assistance.\n                <br>\n                Otherwise, complete this form, and we will contact you within one business day.\n                    <\/span>\n    <\/div>\n\n    \n\n<div class=\"not-prose flex justify-center text-left gform_input_bg_white    \">\n    <script>\nvar 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A bank will typically ask for a detailed business plan, information about your business experience, audited accounts, a deposit from you, and usually some type of financial security (e.g. guarantees against property you may own).<\/span><\/p>\n<\/div>\n\n\n\n<p><span data-preserver-spaces=\"true\"> Even if you have the capital to buy the business outright, it might be a good idea to get a loan so you can have some cash in a reserve fund.<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Next, you will then want to begin buying the business. You should not hesitate to contact the business seller for further details before commencing any proceedings. That way, you can request information about assets, stocks, and contracts and check whether the business is fully registered with the <a href=\"https:\/\/www.gov.uk\/government\/organisations\/hm-revenue-customs\">HMRC (Her Majesty&#8217;s Revenue and Customs)<\/a>. Failure to provide registration with HMRC documents could indicate a scam.<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">After concluding the sale agreement terms, a final step will be to go to a business transfer agent to transfer the business. This process is similar to if you were purchasing a non-online business.&nbsp;<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Key Takeaways&nbsp;<\/h2>\n\n\n\n<p><span data-preserver-spaces=\"true\">Legally, the process of purchasing an online business is very similar to purchasing a physical business. But some of the commercial factors you should consider will be different. This includes the type of assets and liabilities that the online business will have, such as intellectual property. Further considerations will include whether the business is search engine optimised, the projected growth, and how much traffic the business is getting. <\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">If you need help with purchasing an online business,&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/legalvision.co.uk\/business-sale-purchase-lawyers-lp\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">LegalVision&#8217;s business sale and purchase lawyers<\/span><\/a><span data-preserver-spaces=\"true\">&nbsp;can assist as part of our LegalVision membership. For a low monthly fee, you will have unlimited access to lawyers to answer your questions and draft and review your documents. Call us today on <a href=\"tel:+448081968584\" class=\"AVANSERnumber dynamic-number\">0808 196 8584<\/a> or visit our&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/legalvision.co.uk\/membership\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">membership page<\/span><\/a><span data-preserver-spaces=\"true\">.<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Frequently Asked Questions<\/h2>\n\n\n\n<div class=\"schema-faq wp-block-yoast-faq-block\"><div class=\"schema-faq-section\" id=\"faq-question-1640144606222\"><strong class=\"schema-faq-question\">How can I ensure that I have all of the relevant information before seeking finance?<\/strong> <p class=\"schema-faq-answer\">Contacting the seller is an excellent way to get all of the relevant information for the online business and check if the sale is genuine and not a scam.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1640144614988\"><strong class=\"schema-faq-question\">How do I identify a good online business to purchase?<\/strong> <p class=\"schema-faq-answer\">You should look at factors such as its website traffic, search engine optimisation and growth statistics.<\/p> <\/div> <\/div>\n","protected":false},"excerpt":{"rendered":"<p>Purchasing an online business is a big step. Much like purchasing a physical business, you should do thorough legal and market research. This will help you assess the risks associated with purchasing an established online business and give you an idea as to its value.\u00a0 Legally, purchasing an established online business is similar to purchasing<a href=\"https:\/\/legalvision.co.uk\/business-sale-purchase\/purchase-online-business-england-wales\/\">Continue reading <span class=\"sr-only\">&#8220;How Do I Purchase an Online Business in England and Wales?&#8221;<\/span><\/a><\/p>\n","protected":false},"author":13325,"featured_media":659,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"1562,2529,1787,2273,1843,1758","_relevanssi_noindex_reason":"","editor_notices":[],"footnotes":""},"categories":[29],"tags":[52,53,54,55],"class_list":["post-780","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-sale-purchase","tag-business-sale-and-purchase","tag-buying-a-business","tag-online-business","tag-business-assets"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>How to Purchase Online Business in England and Wales? | LegalVision UK<\/title>\n<meta name=\"description\" content=\"Are you looking to purchase an online business in England and Wales? 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