QuickBooks Online is now integrated with Flippa

QuickBooks Online is now integrated with Flippa

With Flippa you can now connect your financial data. This can be done by uploading documentation or effective immediately, customers of QuickBooks can ‘one-click’ connect. Assuming your business is in a good operational state, there are two main determinants to a sale – price and financial health. As it relates to financial health, this is about giving a prospective buyer comfort in what they are acquiring. Think of it like buying a used car — one wouldn’t spend the money without first looking under the hood, viewing accident and incident reports, and taking it for a test drive. Viewing your financial data is analogous to taking a car out for a test drive.

Quickbooks is one of the leaders in this space and we are delighted to announce our integration. With this service, Flippa is making it easier to list and faster to sell.

 

So, how does it work?

 

  1. Start Selling with Flippa
  2. Merchandise your business
  3. Look out for the Quickbooks connection

 

Once you have connected the following will auto-populate:

  • Annualized Revenue and Cost data
  • Prior 3-month performance as a means to assess your current state of operation
  • A P&L covering the prior 12 month period

 

Why is Flippa doing this?


It’s quite simply the most important verification point when considering a business’s value. We know that businesses with access to verifiable financial records sell faster and are more trusted.

Flippa’s integration with Cloud accounting software is an industry first. Buyers can now benefit from increased transparency into financial verification to assess the performance and viability of a business prior to engaging in conversation with sellers. With this integration, sellers can now connect and reveal their financial information to buyers much faster, with less work.

Check out the video tutorial below for more information.

 

Update to asset and business definitions on Flippa

Update to asset and business definitions on Flippa

At Flippa we are continuing to evolve our platform and seek to improve the experience for both buyers and sellers. Over the last month, we have changed the definitions of an asset and business on our website. Below we will explain the changes and showcase Flippa’s updated and more detailed pricing model, which outlines exactly what each service has to offer.

Pricing your Asset

Asset listings are priced at $25. This has not changed. The Flippa Success Fees, where you successfully sell your asset, are 10%. This has not changed.

So what are the changes?

From February 1, starter sites and apps have a maximum reserve – your reserve cannot be greater than $50,000. You also will not be able to set a minimum offer requirement of greater than $50,000 and this will be the Buy it now limit. This does not relate to domains. Domains can be priced at any amount.

Why? Buyers have become increasingly frustrated with unrealistic price points. Ultimately, anything with strong traction should really be listed as a business rather than an asset.

The pricing matrix which appears on the Flippa homepage and throughout the onboarding process clearly explains the key differences.

If you do have additional questions please direct enquiries to [email protected].

 

Listing your Business

Broker Matching requirements

Flippa have lowered the minimum annual gross profit amount that your business needs to qualify for broker matching from $200,000 to $100,000.

Dedicated Account Management

Both self-service for selling your business and broker matching now include a dedicated account manager. The account manager will be on had to assist sellers throughout their journey.

Data Based Valuation Guidance

When listing your business we have provided data based valuation guidance. This feature utilises historical sales data to assist you to accurately price your business in a reasonable range. The feature is available and useable when listing your business.

We’re excited by the progress we’ve made in recent months. We are proud of our history as an asset and business marketplace and we will continue to evolve as we listen to feedback from both sellers and buyers. Our vision is now to service buyers and sellers of businesses globally by connecting all parties, key services, and facilitating the end-to-end business exchange in a trusted and efficient environment.