Selling a business on Exchange Marketplace
Exchange Marketplace makes it easy and secure for you to sell your Shopify business online. Exchange has partnered with Escrow.com to ensure that the payment, listing and transfer processes are straightforward and painless.
Currently, only Shopify businesses can create live listings on Exchange. If you have a Shopify business, however, you can sell it regardless of the number of sales. There is no minimum number of sales required in order to list your business on Exchange.
There are only a few requirements to list your business on Exchange:
- Only the Shopify account owner can access and install the Exchange app in a Shopify store.
- Your Shopify account must be on a paid plan. This includes Shopify's paused online store plan.
- Your business can't be in its trial period. You must wait one day after paying your first invoice to be eligible.
- If you use Shopify Payments, then your account must be in good standing. If your business has been removed from Shopify Payments, then you can't list it on Exchange.
- You can't have active financing from Shopify Capital.
- Your business can't be on Shopify Plus. If your business is currently on Shopify Plus, you must contact Shopify Plus Support and discuss the possibility of negotiating your contract and dropping to an eligible plan.
The process of selling a business on Exchange can be complicated, depending on the business involved. But in general, it follows these steps:
- Ensure you meet the listing eligibility and have reviewed the Exchange Marketplace guidelines.
- Install the Exchange Marketplace app.
- Create a listing for your business and submit it for review.
- After your review is approved, publish your listing.
- The buyer will send you a message.
- You respond to the buyer’s questions.
- The buyer sends you an offer.
- You accept the offer.
- You create the Escrow transaction in your Exchange app.
- The buyer is notified to accept the terms and submit payment to the Escrow transaction.
- You are notified to transfer assets to the buyer.
- The buyer marks all assets as received in Escrow.
- The buyer performs their inspection period.
- The buyer marks all assets as accepted in Escrow.
- Funds are disbursed to you from Escrow and should arrive in your bank account within 5 business days.
- The buyer is made the new store owner by the Shopify Accounts team within 3 business days. The Shopify Accounts team ensures that your billing and payment information is securely removed during this process.