So you've found a business you'd like to buy on Exchange and want to know what the next step is? On Exchange, the seller is responsible for transferring all assets to you, but we'll assist through the payment process and making you the new Shopify store owner.
1. Find a business you like and message the seller.
To get started, you need to message the seller directly from their listing. Be sure to ask the seller any questions you might have about the business to see if it's right for you. Here are some ideas for what you should ask.
In some cases, the seller may be speaking with other potential buyers as well. Be sure to stand out by letting the seller know that you're a serious buyer and showing interest in their business.
Be sure to watch the New Listings page on Exchange to keep up to date with recently published listings in order to have the best chance of successfully buying.
2. Send the seller an offer from your buyer inbox.
When you are ready to buy, you can send an offer to the seller via your email message with them. After the seller responds to your initial inquiry, you will be able to click either the "Reply" button or "Make an offer" button from within your email to be taken to the buyer inbox, where you'll be able to send an offer.
Alternatively, you can access your buyer inbox on desktop by clicking on your name in the top-right hand of your screen as in the below image, followed by clicking "Inbox".
If you happen to be using the Exchange Marketplace on your mobile device or tablet and wish to access your buyer inbox, you will need to access the menu in the top left of your screen and then click "Inbox".
Below is your buyer inbox. You can click "Add offer" within your message with the seller and enter your offer amount in USD to the seller. Once you enter your offer, you can click the "Send" button.
More detailed steps for making an offer to a seller can be found here: How to send an offer to a seller
As soon as the offer is accepted, a transaction will begin. You will receive an email from our payment partner Escrow.com with the terms of the transaction and instructions on how to pay.
3. Pay the seller through Escrow.com.
Once you've been notified that the transaction is open, you'll need to pay the seller. Once the seller is notified that you've paid, they'll be instructed to begin transferring the business to you.
But don't worry, the seller won't received the money until you confirm that you've received everything.
When you're ready, you may want to read a more detailed guide on how the payment process works.
Important: Never pay through Paypal or any other method. If a seller is encouraging not to pay through Escrow.com, the sale is likely a scam and should be reported to Exchange.
4. Inspect the store, become the new owner.
You'll have a period of time called an inspection period during which you can take a closer look and either approve or reject the final transaction.
Once both you and the seller approve the milestones in the Escrow transaction, your staff account will be changed into the new account owner and the payment will be released to the seller.
Someone from the Exchange team will contact you to let you know once we've officially made you the new owner of the business.