When people hear about an individual purchasing a business with the help of, amongst others, their commercial lawyers , the assumption that is usually made is that it is a so-called brick and mortar business. In other words, it is a physical business such as a retail store, a service such as an accountancy firm, or a manufacturing company that produces physical products.
What does not normally spring to mind is that the business being purchased is an online business. When the words “online business” are used, another assumption is that what is being purchased is a website, and whilst a website may be one of the assets of that online business, there is almost certainly more to it than that.
If are considering buying an online business, our first advice is to have the same analytical and cautious mindset that you would have if you were buying an offline business. We would argue that you need to take even more steps to evaluate and validate the performance and the value of an online business.
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