Tag: tips to sell

  • List of Products You Can Sell On Meesho

    Meesho is an Indian-based mobile application. Meesho is a social commerce platform. The company was founded in the year 2015 and is established in Bangalore. The company helps small businesses to start their business through certain social channels which involve WhatsApp, Facebook, Instagram, etc.

    Meesho Products List

    1. Women Ethnic Wear
    2. Women Western Wear
    3. Apparels for Men
    4. Kids Wear
    5. Kitchen and Appliances
    6. Furnishing Products
    7. Cosmetics and Skincare
    8. Jewellery
    9. Electronics and House Appliances

    How to Sell Products on Meesho?

    Meesho Products List

    Meesho has a lot of products from various niches for reselling. The products will undergo quality checks and the company ensures that it comes from high-quality suppliers. Meesho lets you resell the products listed on their platform.

    You can sell various products using it and increase your customer base. Here is a list of certain products you can sell through Meesho.

    Women Ethnic Wear

    Women Ethnic wear on Meesho
    Women Ethnic wear on Meesho

    You can sell all types of Sarees through the Meesho app. They have different categories for a range of Sarees such as Silk saree, Cotton Silk saree, Cotton saree, Georgette and Chiffon saree, Satin saree, Solid saree, Embroidered saree, and Zari Woven. These are one set of ethnic wear for women.

    Other than different types of Sarees you can sell different types of Kurtis such as Cotton Kurtis, Rayons Kurtis, Anarkali, Embroidered Kurtis, and Solid Kurtis. You can also sell Kurta sets which include Rayons, Palazzo sets, embroidered, cotton and, pant sets.

    You can sell different suits and dress materials such as cotton dress material, embroidered dress material, Jaipuri dress material, Chanderi dress material, and Crepe dress materials.

    There is a list of other ethnic wear as well such as Lehengas, Blouses, Dupattas, skirts and sets, Abayas, Ethnic Jackets, Petticoats, and ethnic bottom wears. These are all the different categories of ethnic wear sets for women which you can sell on Meesho.


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    Women Western Wear

    Women Western Wear | Meesho Best Selling Products
    Women Western Wear | Meesho Best Selling Products

    You can also sell different types of western wear for women which include tops and tunics, T-shirts, dresses, gowns, etc. You can also sell western wear in the form of a combined set on Meesho. You can even sell bottom wear such as jeans, leggings, palazzos, shorts, and skirts. You can sell inner wear for women as well as sleepwear such as night suits and night dresses.

    Apparels for Men

    Men watches on Meesho
    Men’s watches on Meesho

    Meesho also has a Men’s category, where you can sell various top wears which include T-shirts, shirts, and winter wear such as sweatshirts, jackets, sweaters, etc. You can sell bottom wear which includes track pants, Jeans, Chinos, Formal pants, etc.

    You can also various accessories for Men such as different types of watches which include leather watches, strap watches, chain watches, digital watches, fit bands, etc. Other than these you can also sell different types of belts such as casuals, formals or different types of them. You can also sell wallets, and certain jewellery for men such as hand bands necklaces, rings, studs, etc.

    You can also sell different types of sunglasses as well as bags, and different types of shoes which include sports shoes, formal shoes, casual shoes, different types of sandals, slippers, flip flops, sliders, etc.

    You can sell different category which includes ethnic wear such as kurtas and a combined set for kurtas, ethnic jackets, ethnic bottom wear, etc. You can also sell inner wear and sleepwear.


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    Kids Wear

    Kids Wear | Meesho Best Selling Products
    Kids Wear | Meesho Best Selling Products

    Through Meesho you can even sell a different category product for kids. You can concentrate on selling different sets of dresses for boys and girls such as boys sets like t-shirts and jeans or a formal set of dresses with a bow or a tie, dresses for girls or a girl set such as frocks, or again t-shirts and jeans for girls, etc.

    You can also sell ethnic wear for both boys and girls, nightwear and winter wear. You can even sell products on the platform for Infants that is kids below the age of 2. You can provide products such as baby sets, Onesies and Rompers, ethnic wear, etc.

    You can also sell different toys and accessories for kids such as soft toys, footwear, crayon sets, watches for kids, bags and backpacks for the kids, etc.

    You can even sell baby care products such as beds and blankets for babies, Diapers, newborn baby care such as feeding bottles, baby accessories, baby swings, baby bibs, manicure sets, baby carriers, etc.

    Kitchen and Appliances

    Kitchen and Appliances | Meesho Top Selling Products
    Kitchen and Appliances | Meesho Top Selling Products

    You can sell various kitchen-related products and appliances which include cutlery and kitchen tools such as knives, cutting boards, different types of spoons, etc. You can also sell storage boxes, cookwares and bake wears such as different utensils and pans, dining sets which include plates, coffee mugs, tea sets and kitchen appliances such as mixers, grinders, stove, oven, induction stove, etc.

    Furnishing Products

    Doormats on Meesho - Meesho Top Selling Products
    Doormats on Meesho

    You can also sell furnishing products on Meesho that are used in homes such as bedsheets, curtains, doormats and bathmats, curtains and sheets, cushions and cushion covers, mattress protectors, etc.

    You can also sell different décor and organizers such as covers for different appliances, wall stickers, paintings, lights, clocks and wall hangings, showpieces, apparel storages, organizers and laundry bags, flower vases, etc.

    You can also provide home improvement products which include cleaning supplies such as detergents, hand wash, floor cleaning liquid, bathroom accessories and gardening and insect protection products such as mosquito nets, mosquito bats, etc.


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    Cosmetics and Skincare

    Deodorants on Meesho
    Deodorants on Meesho

    You can sell various cosmetics for women such as makeup kits, foundation creams and other face makeup equipment, cosmetics for eyes such as kajal, nail polishes, lipsticks, brushes and tools and various appliances such as hairdryer, hair straightener, etc.

    You can even sell various skin care products for women such as face care products such as face washes, hair care products, body care products such as creams or lotions, perfumes and deodorants, eye care and hair removal products.

    You can also sell various products for Men’s care such as beard oil, beard combs and products related to beard, shaving essentials, skin and hair care products, men’s perfume and deodorants, sexual wellness products, etc.

    You can also provide products for babies and their mothers as well as fitness products, pain relief products, masks and sanitisers, oral care such as toothpastes, brushes, etc. and feminine hygiene products.

    Jewellery

    jewellery on Meesho - Meesho Top Selling Products
    Jewellery on Meesho

    You can sell various types of jewellery products as well such as jewellery sets, Mangal sutras, earrings and studs, bangles, bracelets, necklaces, chains, rings, anklets and toe rings, etc, you can also sell Men jewellery sets.


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    Electronics and House Appliances

    Electronics Appliances | Meesho Top Selling Products
    Electronics Appliances | Meesho Top Selling Products

    You can sell various electronic items such as speakers and earphones. Bluetooth earphones and headphones, mobile accessories such as mobile holders, back covers, cables and chargers, power banks, etc. You can also sell smartwatches, mobile phones and so on.

    You can also sell other electronic items on Meesho such as pen drives, camera tripods, microphones and different appliances such as led lights, bulbs, tube lights, etc.

    Conclusion

    These are the list of categories and various items you can currently sell of Meesho. You may find the addition of more categories in the coming years as the app is gaining more popularity in recent times.

    FAQs

    Can I sell my products on Meesho?

    Meesho allows individuals to resell the products listed in the app by simply sharing using social media channels and earning margin.

    Where can I sell Meesho products?

    You can sell Meesho products through your social media accounts like Facebook and Instagram, through your Youtube Channel. You can create a blog to promote the products as in the case of affiliate marketing. You can spread the link through WhatsApp messages or status.

    Who is the owner of Meesho app?

    Vidit Aatrey is the co-founder and CEO of Meesho.

    What are the products to sell on Meesho?

    Some best products to sell on Meesho are:

    • Women Ethnic Wears
    • Women Western Wears
    • Apparels for Men
    • Kids Wear
    • Kitchen and Appliances
    • Furnishing Products
    • Cosmetics and skincare
    • Jewellery
    • Electronics and House Appliances

    What are the top selling products on Meesho?

    Meesho’s best-selling products are from the following categories:

    • Apparels
    • Personal care
    • Home &Kitchen
  • How To Sell Your Business? Steps To Follow For Selling Your Business- A Guide

    Inaugurating a business by capitalizing a hefty amount in it, is a tantamount predicament task to auctioning it off to someone you either know or not. Selling a business is not an easy decision made by an entrepreneur, because that business conserved as revenue in his life.

    On the other hand, retailing any ilk of businesses depends on the nature and size of the business, whether it is a small or large corporation. Moreover, people won’t acquire any business without seeing a benefit in it. Everything comes at a price.

    For instance, in a small business, buyers won’t see many benefactors in it as it is small-scale production and won’t exist for long-term growth. Meanwhile, if you peddle a large business, the very first thing a buyer looks for is- Long-term revenue and growth. So, ascertain the value of your business with the help of nature & size.

    You can’t give away your business to someone’s hands without analyzing what comes next, like quotes ‘Think before you Act’; Sketch your future plan with the money you’re gonna get from selling your business.

    Here are the things an entrepreneur or a businessman should definitely know before selling the business.

    Steps To Sell Your Business
    Step 1. Self Evaluate
    Step 2. Know your Value
    Step 3. Know the Opportunity Cost
    Step 4. Strategically Fix the Pricing
    Step 5. Know your Buyers
    Step 6. Target Multiple Buyers bidding
    Step 7. Draft Agreement
    Conclusion
    FAQ

    How to sell your business?

    Steps To Sell Your Business

    Things to know before selling your business
    Things to know before selling your business

    Selling off your business without any second thoughts will drive you to someplace either in a propitious or unpropitious future. Because you have done the diligence in growing your business which made your life better as well as contributed profuse services to people by gaining goodwill from it. But what if you have sold it to any wrong hands, this will bring a bad repute to you shortly.

    So, Think twice before auctioning your business. If you are vacillating about selling your business, then don’t do it. Only if you are uncertain in monetary terms or challenging to manage your business, then you can look to market your business to someone who could do it efficaciously.


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    Step 1. Self Evaluate

    Self evaluate before selling your business
    Self evaluate before selling your business

    Self-evaluation is the first step that must be done when you think about selling your Business. What is the reason behind such a big step? There must be a clear-cut answer, which is acceptable by the buyers. Without a valid and clear reason, nobody is going to buy a business.

    So before selling a business, you must have a well-structured strategy with the help of specialized personnel to avoid any mistakes you may make.

    Why Self Evaluation?

    Self Evaluation must give you the answer for the following:

    • Why am I selling my business?

    You must have a point-by-point reason for this big decision at the starting stage itself, which makes it easy for you to stick to a particular area without getting confused at the later stages while communicating with the buyer. This may create a bad impact on the business. The reason also influences the buyers and their decision on the price.

    • Your decision for selling is solely based on profit value?

    If you are in need of money and that is the reason behind the idea of selling, never make a hurry. That will only cause loss for your business sale. Just look for the perfect time and buyer with whom you feel comfortable selling your business.

    • What is your future plan?

    Are you selling the business completely or do you want to remain as a partner or investor in your business? Think and make a clear decision about your association with the business in the future. Buyers must also be given the perfect answer about your vision on this.

    • Business is free of liabilities?

    Business must be free of any liabilities, having which it will be a black mark, which will make an impact on the sales and price for sure. All existing liabilities, including personal, materialistic, money should be cleared even before making your decision to sell the business to the public.

    • Are all the papers clear?

    Make sure that you have clear, complete, and well-structured documentation about the business. All vital records, including financial, marketing, business, and professional, must be included here. These documents make an impact on the buyer, let it be professional and profit documents.

    What’s your next act?

    It is cited that preparation is the sole key to success, so start prepping in advance in case you don’t want to lose a great opportunity in the near future. Always, compute your next step, because that is gonna manifest your position in the future.

    These questions may pop up in your mind while selling your business: ‘What am gonna do after the business is bought? Will it be good for me and profitable in the future? Get ready to answer all these questions before giving away your only source of revenue. Therefore, plan subsequently to your list and set an alternative solution like- finance in some property and get revenue from it or become a partner in a company.

    Well, the ending is the new beginning, you have to make up your mind in selling your business after analyzing what’s your next step.

    Step 2. Know your Value

    Selling your business is the decision you took that may have a numerous reason behind. But before getting into the sales, after evaluating your business, you have to know your value and you have to be clear about what you are looking into. This includes the following criteria:

    • It is best to evaluate your business first before going to a broker and discussing it because nobody knows your business as you do.
    • Estimate your business, including the incomes, taxes, earnings, profits, etc.
    • Know the market and market price.

    Your assets and your earnings are more known to you. Try to get the best out of it when you decide to sell it.

    Know your Stable status before Selling off

    Check out whether you have sufficient money to pay off the expense or meet any other requirement for the future. Selling off your business may credit a large amount of money in your account, but will it be enough? Will it be adequate to survive till my last days? To sell your business in case you want to earn any profit out of it, start a new business or sell it if you are financially unstable to satisfy obligations.

    Estimate the Value of your Business

    Goodwill is the brand name, which you have earned in the locality of your business. Buyers will definitely pay a tremendous price when your business has a good reputation in the market and automatically accelerates demand. So, fix the purchase price according to the value of your business.

    Step 3. Know the Opportunity Cost

    Before selling your business, estimate the approx opportunity cost you will get in that. Generally, opportunity cost is the best alternative when a thing is foregone. You have to estimate the value you’re gonna get when you market off the business, ask yourself whether the opportunity cost of your business will be profitable or not? If not, what is the intention of selling it? And if yes, then how much are you gonna be helpful and what are you gonna do with it?


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    Step 4. Strategically Fix the Pricing

    You don’t know the other side excepted acquiring price of your business. If you fix a higher price than the expected one, then the buyer won’t be amenable to acquire the business. So, determine the expected price of your buyer, then bargain for the price you want to sell your business.

    Step 5. Know your Buyers

    Being a business person, you may already know the trend and the top people in the industry. Professional reasons may be there behind the acquisition of your business. Always try to get the best buyer who believes in investing the worth you put for your company.

    Instead of offering negotiable amounts to the buyers, wait for the right one when you get an intuition that the person is perfect to run your business after you.

    Step 6. Target Multiple Buyers bidding

    Don’t propose for one particular buyer, target various buyers and see how many of them (potential buyers) are inclined to invest money in the range that you have set for your business. Besides, this will augment your company outlook in terms of profitability as well as increase demand for your business in the market.


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    Step 7. Draft Agreement

    Draft the final agreement properly
    Draft the final agreement properly

    The business, which you have strengthened for years in good terms should be given to the right hands. If you have ceded your business in good hands, then the long-term growth of reputation is guaranteed for you in the near future.

    Unlike, in case the business is rendered to wicked hands, then such a reputation which you have amassed for years before selling it would go trivial. So before trading your business, determine the potential of the buyers in sustaining the business credible.

    While drafting a sale agreement, make sure the presence of a lawyer or someone who has pretty much knowledge about the agreement and drafting. Don’t miss out on anything because you could end up paying later. The agreement must be acceptable to both parties and any disputes must be settled before signing the agreement to avoid further confusion in the future. Some of the must-have agreements are:

    • Asset listings
    • Bill of Sale
    • Security agreement
    • Purchase agreement

    The agreements must have the following details, which must be verified at the earliest.

    • Buyer and Seller Details
    • The detailed specification of the property
    • Terms of Payment
    • Terms and conditions

    So are you ready to sell your business? Just take it as simple as it is. You know your business and its internal and external happenings. Make everything clear to the lawyer and the broker or any mediator if there is any. They will help you in drafting the perfect agreement.

    Finding the potential buyer is the main aim and may take time. Be patient and wait for the one whom you think is eligible to take over your business. Time and price may not be in your hand. You will have to wait until you get satisfied.

    If you find growth in your company after the decision of selling, let it be. Your profit will only increase with a company with great profit. More buyers will get attracted to your business and you will notice a hike in the estimated purchase value.

    When a buyer gets interested in your business, they first send an IOI i.e. Indication of Interest. This is a document with their proposed terms and conditions and other details. This document is the primary thing based on which the owner decides whether to move forward with that particular buyer or not. After the IOI, the LOI or Letter of Intent is given to the buyer which includes the terms and data about the company, to give the buyer a complete picture of the business, which helps them to make a decision i.e. whether to move forward with the purchase of a business or not.  The next document is the purchase agreement that contains detailed data about financial and legal terms and conditions. This is the final document to be presented during the sale.

    Conclusion

    Well, like said above, starting and selling a business requires a lot of time and effort. The thought of selling a business befalls when you face a financial crisis to meet business requirements and when you want to sell the business in order to start something new in the future.

    The amount you receive in selling your business highly depends on the value of your business – Goodwill. On the other hand, finding a potential buyer who is promised to maintain your business on good terms after surrendering it to the buyer. Therefore; Keep in mind, work in progress to result well in a long-term process, if you are planning to sell off your business in the future at a higher price.

    FAQ

    What is the rule of thumb for valuing a business?

    The common rule of thumb for valuing a business is to calculate your percentage of the annual sales, or  the last 12 months of sales/revenues.

    Do I have to pay tax if I sell my business?

    Yes, you may have to pay tax if you sell your business.

    What to do before you sell your business?

    Few things you should know before selling your business is to estimate the value of your business, target multiple buyers bidding and Don’t fix the purchase price too high.

  • How to Sell a Business in Australia

    Selling your business can be a hard choice due to various reasons. Whether it is to protect you or for better fortune, it is important to understand the steps that you need to follow while you sell your business. In this article the steps that you need to follow if you are planning to sell your business in Australia. Keeping in mind that laws vary from place to place, the article adheres to the steps suggested by the Australian government in its self to avoid any kind of confusion and to present the article as objectively as possible.

    Taking the right decision
    Deciding means of Sale
    Analysing the Worth
    Finding the Right Buyer
    Getting through the sale
    Writing the contract
    Addressing the Employees
    Finalising Issues Related to Tax and Legality
    Transfering the Business
    FAQ

    Taking the right decision

    There might be various reasons why you sell your business. Whatever the case maybe it is important that you scrutinise all the options available before finalising that you have to sell the business.

    Having a clear idea will also help you engage with the buyer who will most probably ask the same question. Another reason why thinking enough before you choose to sell is that in many cases the sale can add additional financial responsibilities even when your intention was to get rid of it.

    Employee entitlements or tax amounts may continue to haunt you even after the sale. So, if you are going to sell think it through.

    Deciding means of Sale

    There are different ways through which you can sell your business. While you can do it on your own it is highly recommended that you do it with the help of a business broker. They are professionals in the field who will help you have a better understanding of all kinds of legal documents and government requirements.

    They also help you make the best out of the sale by advising you about the most profitable ways in which you can complete the transaction. However, it is extremely important to double-check the details of these professionals.

    Analysing the Worth

    One of the most important tasks, before you sell your business, is determining how much your business is worth. Giving the right pricing is a very determining factor. You can do this estimation either by doing a comparison with similar businesses in the market or you can look at the amount for which businesses similar to yours were sold.

    This process will give you an idea about the possible market conditions. Another way is by calculating the differences that arise between assets and liabilities. It is important to consider tangible and intangible assets like buildings and brand recognition respectively. Or else you may also use the net profit of your business to finalise the value of your firm.

    Finding the Right Buyer

    There are multiple ways in which you can find buyers for your business. As mentioned earlier you can take the help of business brokers or agents to help you connect with a buyer who will give you the rightful price. Here too, Lloyds brokers will be an excellent guide and support to find a buyer in Australia.

    You can also exploit your existing networks of friends employees or family to find out people who will be willing to buy your business. As technology gets revolutionised you can use different media to give publicity to the sale through advertisements.

    You can always use the help of the customers of your business to find the right buyer. Whenever you try to convey the message of sale, make sure that you are clear about your requirements and other relevant information about which the buyer should be aware.


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    Getting through the sale

    The part where you negotiate with your prospective buyer is a place where you need to be extremely careful, honest and accurate. During the negotiation make sure that there is a proper agreement at least on words on things like sale price, settlement period, the handover training for the buyer if necessary, demand of advance to be paid et cetera.

    Writing the contract

    The preparation of your contract is normally done by an intermediary for you. However, you should be aware of the requirements and laws that you need to follow as they vary from state to state. So make sure that you go through the rules and regulations pertaining to the state or territory in which the business is situated.

    You will have the help of a solicitor to crosscheck the contract for you. They will help you figure out any kind of discrepancies and will also ensure that every detail of the sale is clearly mentioned in the contract. These include assets like property, equipment, stocks et cetera and also the liabilities inclusive of creditors.

    If there are any other special kinds of agreements like the ones where you are restricted from starting a business in the same field or anything of the same kind, make sure that you are aware of all these and that they are properly mentioned in the contract. Be watchful about the things that are mentioned regarding the future of the business and if they have any connection with you.

    Addressing the Employees

    Employees are the most important driving force of any business. Being the foundation they are the ones who are the most affected when a careless sale happens. Hence it is important that you communicate with your own employees about the things that are going to happen and inform them about the decisions taken with regard to employee positions.

    You are obliged to give them prior notice or provide payment in lieu of notice. If at all the employees are getting transferred along with your business make sure that you provide all the necessary details about the employees to the new business owner.


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    You need to seriously consider if CGT or Capital Gains Tax and GST or Goods and Services Tax apply to your business sale. The procedure you need to follow completely depends on whether you are registered for GST or CGT.

    Transferring the Business

    When you are transferring your business after the sale you need to make sure that you transfer all permits, licenses, and leases. Do not forget to cancel you are ABN. You can either transfer or cancel your business name as well.

    Finalising things like activity statements, installment notices and tax returns are also an important part of transferring your business. Remember that until the transferring of the business to the new owner is complete you will be the one who is responsible for any kind of agreements and obligations which are a part of your business.

    In Australia, it can take up to 12 months to complete the process of license transfer which means you need to plan well ahead.

    FAQ

    What are the three ways to value a company?

    There are three main methods used to value a company is, DCF (Discounted Cash Flow analysis), comparable company analysis, and precedent transactions.

    Do I have to pay tax if I sell my business?

    Yes, you may have to pay capital gains tax if you sell your business.