Empire Flippers is one of the most successful brokerage firms in America, with over 1,600 successful transactions that have totaled more than $320 million. Empire Flippers is committed to creating a safe and secure online marketplace for all members as they only accept high-quality websites, which makes it easier when buying or selling.
What is Empire Flippers?
Empire Flippers is the go-to place for people who want to buy and sell online businesses. Empire Flippers is a carefully managed marketplace for buying and selling established businesses. Joe Magnotti (CEO) and Justin Cook are the primary leaders of the company (CMO ).
Empire Flippers has been featured on BuzzFeed, Entrepreneur, Business Insider, Moz, Shopify, and various other websites, demonstrating their credibility. This review will discuss Empire Flippers’ competence, trustworthiness, and customer service.
Empire Flippers. Track Record
The majority of sites on Empire Flippers sell within days to weeks of being listed. In total, 77% of listings are sold.
- Thousands of websites have been sold.
- The success rate of selling is 88 percent.
- Businesses/websites must have a solid track record of at least $500 profit each month for the previous six months.
- For at least six months, Google Analytics must be used by businesses and websites.
- Manipulation of a website’s traffic or revenue is not tolerated.
- The employment of PBNs has been highlighted.
Is Empire Flippers The Best Website Marketplace?
According to historical records, many sites sell within a few days to a few weeks of being placed on Empire Flippers. Your website can be sold in as little as two days. They have a success record of 77% for selling online businesses. They sold for $16,699,283 in the last 30 days.
They currently have a number of websites to choose from, ranging in price from more than $3,000,000 to less than $20,000. Empire Flippers is the place to acquire an already established site that has proved to create revenue or if you want to market your site to free up capital.
Unlike Flippa, their thorough business history checking process ensures that only high-quality listings appear on the site.
Empire Flippers is the world’s highest-quality website/online company brokerage. Trust me when I say that you want them to deal with all of the issues that come with these types of deals because there are a lot of them.
What Services Does Empire Flippers Offer?
Let’s take a look at the differences in services based on whether you’re a buyer or a vendor:
If You’re A Seller
Business Evaluation (Seller) – Go to the Empire Flippers website to have your business evaluated. Empire Flippers will link you with a vetting professional to begin the verification process.
Business Vetting (Seller) – The team inspects every component of the website or business before it goes live. Site ownership, traffic, earnings, and any other assets are checked. Empire Flippers does not want its name tarnished by garbage or scam listings.
This thorough examination assures that the buyer is buying a high-quality item. There is a $297 vetting cost for first-time sellers (although there is no fee if you click here through my link!) that ensures serious sellers, but keep in mind that this fee is fully refunded if a listing is denied. The verification procedure can take up to a week to complete.
New listings are updated once a week on Mondays at 7 a.m. EST, and the newly accessible listings are shared via an email blast to over 45,000 people.
Listing Terms (Seller) – Because Empire Flippers is a brokerage, they make money by charging a commission on sales. The commission structure is as follows, and it is based on the final selling price, not the listing price: 15% for businesses that sell for less than $1 million, 12% for businesses that sell for $1 million to $2 million, 10% for businesses that sell for $2 million to $5 million, and 8% for businesses that sell for $5 million or more.
- 15% for firms listed for less than $1 million
- 12% for firms listed from $1M-2M
- 10% for firms listed from $2M-5M
- 8% for firms listed at $5M+
If You’re a Buyer
Business Inspection (Buyer) – When potential buyers find a listing they are interested in, they must pay a 5% deposit to gain access to the URL, P&L, and Google Analytics. This 5% discount is refundable and can be paid with a credit card, but it prevents URLs and businesses from overexposing to non-serious purchasers.
The potential buyer will be provided with an Excel document that details all of the business’s revenue streams and expenses (P&L). Users and page views for each month are visible in the document, which can be verified via Google Analytics access.
This stage is critical since the purchasers’ responsibility is to conduct their due diligence and ensure that they are obtaining a desirable asset. If the business appears appealing, an Empire Flippers representative will set up a conference call to facilitate a conversation between the buyer and seller.
The buyer can ask any queries that came up while looking through Google Analytics and the P&L and any other business-related questions during this session.
Buyer And Seller
Offer and Negotiations (Buyer and Seller) – Once a decision to buy a firm has been made. The buyer has two possibilities. The first option is to acquire the business at its listed price, which means that once Empire Flippers receives the payments, the site will be recorded as sold, and no other purchasers will be able to make an offer.
The second alternative is to make a lower-priced counter-offer. Unless the listing is too wonderful to pass up, I believe any intelligent businessperson will submit a counter-offer. The offer is forwarded to all other parties interested.
To purchase the listing, another buyer has 24 hours to submit an offer 10% higher than the agreed-upon value. (Note: I’m afraid I have to disagree with this, but I’ll explain why later in the review.)
Migration (Buyer and Seller) – The deal is concluded after the buyers’ funds have been sent to the Empire Flippers account (I used a wire transfer). Depending on the complexity of the revenue streams and accounts to be transferred, migration can take up to two-three weeks.
Empire Flippers is a “Done-For-You” service, meaning they manage all account transfers between the seller and the buyer. They ensure that the migration is successful and that the buyer receives income. Empire Flippers will safeguard the buyer if the buyer discovers that information regarding the firm was not reported correctly.
Furthermore, if the company earns less than half of what it was expected to earn, the sale can be reconsidered. As a buyer, this made me feel completely at ease. All contact is handled through a Zendesk Support ticket during the migration between Empire Flippers, the buyer, and the seller.
FAQs About Empire Flippers
What are the ways to communicate with sellers?
Buyers can contact Empire Flippers’ sales staff if the listing exceeds $100,000. The Empire Flippers team will lead the discussion and answer any questions you may have about the buying process. The call allows you to understand the seller better and offers you the chance to ask questions about the website you wish to acquire.
What is Due Diligence for Buyers?
Empire Flippers thoroughly vet all sites, which takes between 1-and 3 weeks.
What types of Websites are Offered?
Empire Flippers specializes in content and eCommerce websites and sells various other online enterprises. According to the State of the Market Study, websites should make at least $2,500 per month for the first six months of 2021. Specific categories, such as gambling, payday loans, and adult, have no sites.
Things We Liked:
- They analyze all new online businesses that enter the market.
Things We Didn’t Like:
- Commission rates are high
- Sites are costly (if you are a buyer)