Buying an existing online recuring business ...any problems I should be aware of?

by 10 replies
12
Hi

I am in the process of taking over an existing recurring income membership site. It hasn't been run very well but despite that has a surprisingly high membership retension rate because the product is good quality.

I do have one concern and am not sure how to handle it correctly: All of the recurring payments are linked to the owners paypal account and I am not sure if this can be transferred to me safely.

Are there any Warriors with experience in this sort of thing that might be able to give good advice plus any other concerns or things you think that I should be aware of as I am going to be paying a few thousand dollars for this and would hate anything to go wrong.

Thank you very much
Joe
#main internet marketing discussion forum #aware #business #buying #existing #online #problems #recuring
  • If it's a business PayPal account, buy the business. If it's their personal PayPal account, you're going to have to ask each member to change their subscription, which will of course raise questions, and you'll lose a certain percentage of the customers. On the plus side, the people who are left are the ones who really see value in the arrangement.
    • [ 1 ] Thanks
    • [1] reply
    • AH! Thank you David for your reply. That is just the sort of advice I needed.

      It is a verified Paypal account but from what I understand it is not a business account as such so that could cause problems.

      Another issue which could throw a spanner in the works is that the owner never set up a mailing list for the members. They literally pay their subscription free automatically via paypal then get access to the product at the private membership site.

      I am a member myself and have been very frustrated by the way it was run and that is why I want to buy the business but it is a bit of a nightmare to get everything in place.

      Regards

      Joe
      • [1] reply
  • If he runs a business, he probably has a business paypal account.

    Just buy the details from him for the whole paypal account.
    • [ 1 ] Thanks
Join the discussion

Next Topics on Trending Feed