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.
You need to meet the following requirements before you list your business on Exchange:
- Only the Shopify store owner can access and install the Exchange app in a Shopify store.
- Your Shopify account needs to be on a paid plan or a development plan. This includes Shopify's Pause and Build online store plan.
- Your business can't be on Shopify Plus plan. If your business is currently on Shopify Plus, then you need to contact Shopify Plus Support and discuss the possibility of negotiating your contract and downgrading to an eligible plan.
- Your business can't be in its trial period. You need to wait one day after paying your first Shopify subscription fee to be eligible.
- If you use Shopify Payments, then your account needs to be in good standing. If your business has been removed from Shopify Payments, then you can't list your business on Exchange.
- You can't have active financing from Shopify Capital.
- You can't have any open tickets with the Shopify Risk team, the Shopify Recovery team, or the Shopify Legal team. Any outstanding issues need to be resolved before you can list your store for sale.
- All listings need to adhere to the Shopify Terms of Service and Partner Program agreement
Refer to the Exchange terms for all limitations pertaining to Exchange Marketplace.
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.
- You receive an email confirmation when the store ownership transfer is complete.
Exchange user requirements
It is our goal to provide a fair and safe environment for anyone who wants to buy or sell a business on Exchange. To help achieve this, we've set the following requirements and guidelines:
- You need to be at least 18 years old.
- If you live in one of the following countries or regions that Escrow does not support, then you can't use Exchange:
- Afghanistan, Algeria, Angola, Azerbaijan, Belarus, Burundi, Cambodia, Central African Republic, Chad, Congo, The Democratic Republic of the Congo, Cuba, Côte d'Ivoire, Egypt, Equatorial Guinea, Eritrea, Ethiopia, Guinea, Guinea-Bissau, Haiti, Honduras, Islamic Republic of Iran, Iraq, Kazakhstan, Democratic People's Republic of Korea, Kyrgyzstan, Lao People's Democratic Republic, Lebanon, Liberia, Libya, Moldova, Myanmar, Nigeria, Pakistan, Panama, Russian Federation, Sierra Leone, Somalia, South Sudan, Sudan, Suriname, Syrian Arab Republic, Tajikistan, Uganda, Ukraine, Uzbekistan, Venezuela, Yemen, Zimbabwe
- Don't use Exchange Marketplace to promote a product or service.
- Exchange Marketplace doesn’t support an auction format. Sellers are expected to set and adhere to their asking price so that they don't confuse buyers and create a negative experience.
- Don't ask for or include a personal email address, phone number, or any other form of contact information in a listing or any communications, and don’t move the conversation off of the Exchange Marketplace. Buyers and sellers should only communicate through Exchange.
- Always have Exchange make store ownership changes for you.
- Exchange doesn't support searches for business partnerships. A business needs to be sold in its entirety in order to be listed on Exchange.
- All listings should be unique and not copies of existing Exchange listings.
- Online store templates that are sold on Exchange needs to be unique. To avoid issues with dissatisfied buyers, it's important that each business sold is not a duplicated version of another one.
- Unlike regular development online stores made by partners, businesses that are listed on Exchange are not eligible for a commission.
- You might be subjected to a "Know your customer" request, to confirm your identity.
- Don't encourage either party to begin a payment transaction outside of Exchange's payment flow. If a transaction is completed outside of the Exchange Marketplace Escrow.com flow, then Shopify can't help you with any issues that involve that transaction. Using Escrow.com outside of Exchange to begin a new transaction is considered outside of the authorized Exchange payment flow. All official Exchange transactions will have
firstname.lastname@example.org as the broker in the Escrow.com transaction.