After the Sale - Transition and Training
Transition and training one of the final steps to sell a website, but it's one of the most important steps of the overall process. It's the responsibility of the seller's website broker to negotiate a transition and training period that works for both the buyer and the seller. Our ecommerce business brokers usually recommend that the seller be willing to provide a minimum of 30 days of training and support and a maximum of 90 days of training depending on the complexity of daily operations. Ultimately, the training period will depend on 2 core elements which include the complexity of daily operations and the buyer's experience with operating an internet business. Some website businesses essentially run on autopilot which makes training the buyer fairly simple post transition. However, some website businesses that involve order fulfillment and warehouse operations usually require longer training periods because the operations are more complex and take longer for a new buyer to learn. Complex daily operations aside, if a buyer doesn't have previous experience with operating an internet businesses, it will take more time to teach the buyer the basic fundamentals that are required for all types of internet businesses, such as learning to use Google Adwords, Google Analytics, etc.
Since most buyers don't have direct experience in the website businesses that they purchase, there will always be a learning curve and it's the seller's responsibility to ensure the buyer is properly trained on maintaining daily operations after the website sale has been finalized. A website broker can help find the perfect buyer with the right level of experience to ensure the transition and training period is as seamless as possible. Training and support includes any and all aspects of running the website business including working with existing employees that are crucial to the company's ongoing success. Most of the transactions our website brokers advise on are usually structured with a 30 day training and transition period. While most training and support can be completed via email and over the phone, most buyers prefer to have at least 2-3 days of hands on training at the seller's location. The buyer is almost always required to cover any expenses for traveling with regard to setting up 2-3 days of hands on training, but ultimately it depends on the experience level of both parties and the complexity of daily operations. In addition, the buyer is usually required to setup all accounts required to operate the business including a company bank account, merchant account, and any other account that cannot be transferred. Other relevant accounts that are usually transferrable include supplier accounts, Google Adwords account, email accounts, etc.