Q2 2015 was another active quarter for FE International, with an increase in the number of deals completed on Q1 and the continuation of several exciting marketing developments, culminating in our largest inventory and deal pipeline ever.
Going into Q3 we now have more inventory than ever before with $8m+ worth of listings newly added in the last month, more than twice as large as the previous firm high. We have a wealth of 7 figure listings and don’t expect to slow down with another $4m+ in the pipeline for the coming month.
For the quarter ending June 30th 2015, FE International sold 19 businesses totalling $1.91m in value with an average time to offer of 32 days, up marginally on the previous quarter. Buying demand remains strong with the rapid closing rates in Q1 seen in Q2 also.
Across the market, there appears to be a wealth of buyers looking to understand the market with a smaller purchase before graduating up the cap scale. The timing is fortuitous as we continued to build on our advanced buyer content ahead of the publication of our Advanced Guide to Buying an Online Business in July. During the quarter we wrote some flagship pieces on offer structuring, due diligence and legals, which have been well received by new and experienced buyers alike.
As anticipated, our buyer network has continued to rise strongly in the wake of marketing features, more listings out there and evergreen interest in our buying guide. We tipped over 5,000 buyers this quarter and expect that the launch of the advanced guide will only serve to push this further. Our focus now becomes connecting with as many qualified buyers as possible and we are encouraging this through free acquisition strategy calls and scheduling tools to make life easier for clients.
On the marketing side, the team has continued to feature heavily across various internet marketing and start-up websites including Mixergy, Nights&Weekends and HumanProofDesigns as well as speaking at this year’s UnGagged in London. Meanwhile, David did a spot for Chris from Rhodium Weekend on buying online businesses.
Elsewhere, thanks to continued successes selling businesses we occasionally have the fortune to work with some of the most respected people in the industry. This quarter we represented Patrick McKenzie (founder of Kalzumeus and new venture Starfighter) on the sale of his first online business, Bingo Card Creator. Patrick commented on his experience with us on Hacker News alongside other past clients, which proved a popular post for other buyers and sellers of software businesses.
Lastly, the end of the quarter saw the firm complete its transition to a new head office location in Boston. Opening up a new HQ office in the USA has been a major priority for us as we look to expand further into the market we do most of our business in. As we continue to work closer with clients we actively encourage buyers and sellers to come and visit us so if you’re in the Boston area, feel free to contact us to arrange a face-to-face meeting.
It’s going to be a busy Q3 and we wish you success in your business buying and selling.
