FAQ (Frequently Asked Questions)
General Facts
A digital business is an online business that uses the internet to conduct transactions. It can be purely online or a brick-and-mortar business with an online presence that is relocatable, but its website must be the primary means of interacting with customers.
A digital business may sell products or services online, or it may provide information or other content.
There are many benefits to digital business. Perhaps the most obvious is that it allows businesses to operate more efficiently and with greater reach. For example, a business can use digital marketing techniques to target customers all over the world, rather than being limited to a specific geographical area. Additionally, digital business can help to automate processes and reduce the need for manual labor, which can save time and money.
Digital businesses must be able to quickly adapt to changes in the marketplace and customer demands.
A business broker is an individual or firm that assists in the buying and selling of small to medium businesses. The role of a business broker is to act as an intermediary between the buyer and seller and will typically: charge a commission based on a percentage of the sale price; perform a valuation of the business prior to listing it for sale; market the business for sale and screen potential buyers; assist in negotiating the sale price and terms of the sale; have a network of buyers and sellers that they work with; have experience in business sales and be familiar with the process; be a valuable resource for both buyers and sellers of businesses. Most are members of an accreditor organization such as the IBBA or a local professional development chapter.
Hatchit was started to connect buyers and investors with the the best digital businesses from business brokers and business owners directly. Read more about our backgrounds.
Stats
They vary, but asking prices range from about $10,000 to $60 million.
It varies, but the median asking prices is approximately $350,000.
Web-based businesses that are purely online account for 95% of listings.
Non-tech relocatable businesses are less than 5% of businesses listed.
Classified Ad Postings
Click on the “Buy & Sell” link. Under the Sellers tab, click the "Post your deal" button on the page and register if you haven't already. You may sell a virtual, relocatable startup, established business or digital asset. After completing the form, you will need to fill out the details of your post and agree to the Terms of Use in order for the post to go live.
You will not be charged a fee for seller posts. If you would like to post more than 4 assets, please contact us at support@hatchit.us for enterprise options.
Click on the title in the post. When the asset detail page appears, fill out the form to “send message to listing owner”.
This is the account you set up when posting an asset on Hatchit.us
For help with your account email us at support@hatchit.us
Any posting that violates our Terms of Use, is inappropriate, or is posted in bad faith, will be removed from our marketplace.
Flagging is the process of users notifying us of any prohibited content in the marketplace. Postings which violate our Terms of Use will be automatically removed. Repeat offenders will be barred from using the marketplace. You can send any concerns to support@hatchit.us.
Yes, business brokers can post single listings through the Post Your Deal form or multiple listings as an enterprise customer by contacting Hatchit at support@hatchit.us
In order to best serve our buyer community, we ask that all business for sale and digital asset posts conform to these guidelines:
-No franchises, brick and mortar or other non-relocatable businesses.
-No businesses or assets with pending litigation or in distress.
-No casino, gambling, adult, etc. See prohibited.
Per our Terms of Use, Hatchit reserves the right to remove any post for any reason at any time.
Payment
Only close a transaction with a buyer or seller who you feel is accurately representing themselves and their business and is seeking to make a good deal at a fair price.
This is the most secure way to pay for a business asset. We suggest using our affiliate escrow.com. Read more about escrow fees and contracts.
Ad Posts
Hatchit does not charge a fee for seller posts. To make sure your posting is current, you will be asked to renew your listing every six weeks. If you do not renew it, it will be taken down.
Posts are good for six weeks. You must renew your post when asked to keep it active on our platform. This ensures it stays current with the correct information.
Login to your account, go to your dashboard, and select the edit or delete button.
Listings are limited to one category.
Login to your account, go to your dashboard, select the edit button and then renew.
As arranged with a seller, buyers will pay an invoice at the time of an asset sale through our affiliate escrow agent.
Buying a Web-based Business
Hachit offers three plans for business buyers. The first is Basic and is free. The second is Pro and will be available at a monthly or annual fee. The third is Enterprise and is a discounted Pro plan for companies with 5 or more users.
At the very least, there needs to be a clear agreement on terms. A contract will stipulate the terms of sale and, typically, the seller will draw up the contract. Here's a business asset purchase and sale template. You will be re-directed to our contract provider, LawDepot.com. As a Hatchit user, you will receive a 10% discount on any eligible purchase.
It’s always advisable to consult with an attorney if there are issues which come up that fall outside of your expertise or comfort zone.
A NDA or Non-Disclosure Agreement is designed to protect confidential information related to the business. Not all sellers will require this be signed by a prospective buyer. However, it is standard practice to sign one, if the seller requires it. Access this NDA form. You will be re-directed to our contract provider, LawDepot.com. As a Hatchit user, you will receive a 10% discount on any eligible purchase.
We recommend you use our escrow agent and follow the asset verification process as outlined by them. Initiate an asset verified transaction. You will be re-directed to our contract provider, Escrow.com.
It’s up to the buyer and seller to determine the terms of the sale. Buyers should seek to withhold payment for an asset until there is agreement on price and terms, and the asset has been verified. When using Escrow.com, the buyer pays for the asset at the time of sale but payment is withheld from the seller until the asset has been verified.
Most asset sales are software, apps and other types of intellectual property and will not include physical inventory. If inventory is included in a sale, the listing should indicate it.
Avoiding Scams and Fraud
If an asset seems too good to be true, it probably is. Use good judgement and common sense. Look for warning signs such as a buyer/seller refusing to meet you on a video call, pressuring you to buy, completing a rushed transaction outside of Escrow, or an unclear understanding of the asset.
Phishing is when a company asks for personal information through an email. We will never do that. If you receive an email from Hatchit that seems suspicious, please forward it to us at support@hatchit.us so we can look into it.
We don’t recommend using checks, a cash app or PayPal, because of potential problems. The most secure method is to complete a transaction through our escrow agent.
Yes. We cannot offer any guarantees to a buyer about the assets purchased. It would be up to you as a buyer to inquire about a return policy if it is desired.
Legal
See License and Use sections under Terms of Use.
Misc
These include any item not wholly owned by the seller or created by the seller if original intellectual property. Prohibited items also include the following: adult materials, gambling, any item prohibited by law, or any license or product with any pending litigation against it.
See full prohibited list
Our complimentary broker match service is designed to find the right broker for your type of business. We work with over two dozen business brokers with different specialities. We use the information you submit to create the match. It is your decision whether to go forward. There is no obligation to sign a contract with a third-party business broker.
Contact links
Please email us at support@hatchit.us and we will aim to get back to you within 48 hours.
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