Client talking about shutting down or selling their business?
interwebs
4:25 am on May 26, 2023 (gmt 0)
Do your (maybe retirement age) clients ever talk about shutting down or selling their businesses — maybe even one that's doing well and largely automated? Do they ever ask for your advice, and if so, what do you say?
tangor
7:17 am on May 26, 2023 (gmt 0)
@interwebs --- Welcome to Webmasterworld!
I get these from time to time. For successful sites I generally suggest, if they are so inclined, to sell the site, bequeath it to another, or just shut down.
The unsuccessful sites usually shut down all by themselves.
It's a good idea to understand the reasons for selling the business: Some just want out, some want to retire, some want to start another business and can't run two, etc.
Assuming the business is making profits it's a potential going concern to sell. There are specialist agencies that can handle that, albeit at a slice of the action, but they are better placed to locate potential buyers. One business I knew successfully sold their operations to a company in which they already had a business relationship. Another had an employee buy-out. Either way, you should advise them to get legal advise to cover contracts, etc., to avoid potential issues at a later date.
tangor
4:35 am on May 27, 2023 (gmt 0)
Lawyers are certainly advisable if the annualized site income is significant, and that amount can vary depending on niche, etc.
By the same token most webmasters looking to get out are looking at that money aspect from the other end of the telescope: they ain't making any, or are losing it ...
Each situation will be different. Best advice one can offer is (they) tackle it with eyes open and intent resolved.
By the same token, even when asked these questions by others I remind them I am a webmaster, not a financial advisor, not a lawyer, nor even --- whatever else one might wish to apply, and my comment is only that: a comment.
