Startup Acquisition Stories How to Prime Your Business For a Seamless Acquisition with Sukhpal Saini
Founder Sukhpal Saini thinks you should consider offering lifetime subscriptions (at least for a time).
He knows because he built a Shopify interface for Stripe that just couldn’t hold down recurring customers. Called Reetail, Sukhpal operated the application for two years and got consistent users. The problem was they all were selling products in relatively low volumes. It was hard for them to justify subscribing to his platform.
As Sukhpal’s other side business, Engyne began to grow, he also had less and less time to dedicate to Reetail. Feeling like he’d given all he could to the product, he decided to sell in the best place he knew: Acquire.com.
Sukhpal says his experience on Acquire.com was extremely straightforward. His buyer offered him the exact price he was looking for and paid all in cash.
Post-acquisition, Sukhpal shared how he got his sale to go off without a hitch, including:
Creating multiple accounts for all his paid software, to facilitate an easy handoff
Creating a clear list of why buyers should be interested in your product
Setting aside a transition period to over all elements of your business with the buyer
The tradeoffs of lifetime vs. subscription-based business models
The advantages of including a “Risks and Limitations” component in your listing.
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Sukhpal is just getting started and you can find follow his journey below: