MicroAquire Review

MicroAcquire Review [Sell Your Business Anonymously – Zero Fees 2022]

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MicroAcquire Review

The world of entrepreneurship can be a complex one to navigate, with many avenues to explore. But one factor in being an entrepreneur is selling businesses; often entrepreneurs are the people with ideas for businesses, so they set up the business to get it off the ground, then can choose to sell the startup. The process of transferring businesses, both online and brick and mortar, has always required a plethora of documentation and costs. Nowadays, there are other options.

Other options start with MicroAcquire, which is an online marketplace for those who are looking to sell their startup to buyers who are interested in purchasing fresh business ideas. There have been other marketplaces and brokerage services available in the past, as early as 2009, but MicroAcquire is a different type as it fills a different niche for less money than brokerage services cost.

But what is MicroAcquire and how trustworthy is this new platform? Continue reading to learn about the pros, cons, benefits, and details of this platform to see if it’s the platform for you.

Onto our MicroAquire review!

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What is MicroAcquire?

MicroAcquire is an acquisition marketplace for startup businesses. MicroAcquire was designed to make the process of selling and buying acquisitions easier, as it was a longer, more frustrating process before MicroAcquire existed. This website is a hub for buyers and sellers alike to connect to discover the various startups available and to buy and sell quickly, for the highest price possible.

Located in San Francisco, California, MicroAcquire was founded in 2020 by Andrew Gazdecki. Since then, over 30,000 people have used their service and over 100 listings have been posted to the marketplace. On their website, the MicroAcquire team states that in their mission, they stand for entrepreneurship, trust, transparency, and authenticity.

Marketplace Versus Brokerage

The key factor that makes platforms like MicroAcquire appealing is that they remove the middleman, which can save both the seller and the buyer money during the acquisition process. By choosing to not be a brokerage service, MicroAcquire is able to provide a similar service of bringing sellers and buyers together without charging the additional 10% to 15% brokerage service fees.

There are few marketplace-formatted acquisition platforms in the industry currently, so MicroAcquire saw an open market opportunity and took the chance, which is now a helpful tool for its users. Although MicroAcquire says they focus on startups as their primary focus, this is just an umbrella term, as there are many types of businesses found on the platform itself, which can be filtered through by potential buyers.

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How Does MicroAcquire Work?

Whether you are a buyer or a seller, first you need to open an account. For a seller, you will need to follow these steps:

  • Set Up Your MicroAcquire Account: You will need to provide a description of your startup and an explanation of why you are looking to sell it. This step will also require you to provide financial information and to sync a payment system, such as PayPal or Stripe.
  • Get Selling Help: Although MicroAcquire is an easy way to sell your startup, make sure to take advantage of the financial advisors available. They have over 100 advisors available at any time to help you sell your startup. You can also browse the site by rating, fee, and experience, engaging instantly through the platform.
  • Connect With Potential Buyers: Once you’ve provided the information the platform needs, you are ready to start connecting with buyers. As a seller, you are able to approve or reject information requests from buyers, then connect metrics and payment systems accordingly when you are ready to sell.

For the buyers of MicroAcquire, you will need to set up an account and provide payment information, but there is an additional option you may want to consider when choosing to use MicroAcquire. This platform is available for free but has a premium setting that provides additional perks as a buyer.

Public users have free access to the platform and listings, which can then be filtered to suit the buyers’ preferences. However, as a free user, these are the only two things you are able to do with a free account. The premium version of the platform provides additional perks, including:

  • Full Startup Data viewership
  • Ability to contact sellers directly
  • Email notifications of new listings
  • Financial metrics viewership
  • Premium Buyer badge

For $390 a year, buyers can gain these perks to assist them in choosing the startup with the highest potential and worth to them. For $32.50 a month, buyers have access to full financial and data information for every startup listing and can contact the seller directly to ask for further information. MicroAcquire already provides users with fresh leads, but premium buyers can get immediate notification of the newest listings, increasing the chances of them purchasing a great, high-potential startup.

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MicroAcquire Pros and Cons

It is rare to find a company with very few cons or negative attributes, but MicroAcquire is currently one of them. The overall public opinion of MicroAcquire is already quite high for the short amount of time the company has been operating. However, there is always room for improvement and some users have noted changes they would like to see made.

Pros:

  • Active Leads: MicroAcquire is a marketplace, so every listing on the platform is current and ready to be negotiated over. Unlike finding potential buyers and sellers through leads online traditionally, this platform cuts the time and effort spent significantly for both parties by providing one place to connect and communicate.
  • Control Over Buying/Selling Process: MicroAcquire is not a middleman, meaning that they don’t require fees, commissions, or additional paperwork from either the sellers or buyers. So, as a seller or buyer, you have full control over the pay rates, the communication, and everything else involved in buying and selling through the platform.
  • No Fees for Sellers: The platform is free to use for sellers, with no fees, which means that every penny a buyer uses to purchase your startup goes to you, the seller. Sellers do not have to pay fees to post listings, and there are no escrow fees or commissions to be taken from the money you receive.
  • No Exclusivity Agreements: MicroAcquire does not require users to sign exclusivity agreements, as this platform is a marketplace, not a brokerage service.
  • No Due Diligence: The process of waiting for a council to investigate and confirm the details that you provide to open your account does not exist with MicroAcquire. This cuts down the length of time you have to wait to start listing and buying startups.
  • No Other Legal Documents: Because there are no middlemen with this platform, there are also no other required legal documentation, as every step of the selling and purchasing processes are up to the sellers and buyers exclusively.
  • Proof of Funds Not Required: Buyers do not need to provide documentation that they do have the funds available to purchase startups.

Cons:

  • Lack in Additional Documentation: The other side to the pros of no due diligence, proof of funds, and other documents and procedures, is that the risks fall squarely on the buyers and sellers. For sellers, your potential buyer could actually be lacking in funds. For buyers, your potential startup provider could have forged vital information.
  • No Migration Service: MicroAcquire does not help users to transfer websites from the seller to the buyer.
  • Lack of Rating Systems: Some users have noted that they wished that rating systems for both sellers and buyers were implemented, as an additional measure to secure trustworthy users.
  • User Interface and Design Improvements: Some users also claim that the UI and UX design is lacking, but overall, the platform has been said to be user-friendly, so this is possibly a personal preference.
MicroAcquire Competitors

MicroAcquire Competitors & Alternatives

While MicroAcquire is relatively new, there are nonetheless many other established platforms out there that provide similar products and services. Here are a few that you should definitely consider.

  • Flippa: Flippa has been around since 2009 and has gained over 1.5 million users since then. They are known as one of the first acquisition platforms for online websites. Flippa offers users the chance to purchase under monetized websites with a large number of listings, about 5,000 listings at a time, at all times. However, compared to MicroAcquire, Flippa has commission rates for sellers of 10% or less, with a listing fee of $49 and additional Escrow fees. Flippa does have exclusivity agreements for listings that are live, yet the websites on auction are not vetted for. There are also no filters to sift out the low-quality websites and there is no migration service.
  • Empire Flippers: Founded in 2011, Empire Flippers is an award-winning platform that provides over 120 listings and has over 195,000 users. This platform has no listing or Escrow fees for sellers, but buyers are required to provide proof of funds. Listings have a 60-day exclusivity agreement and Empire Flippers does provide a free migration service to make the migration of websites easier for the users. Lastly, Empire Flippers provides legal documentation but does not provide due diligence, only vetting.
  • FE International: This platform was founded in 2010 and is also an award-winning acquisition platform. There is no listing fee for sellers, and the Escrow fee is included in the fees you pay once a deal has been secured. Commission rates are 15% or less for sellers and an exclusivity agreement is revealed once the seller and buyer reach the Representation Agreement signing step. FE International has thousands of users, but only has an average of 25 listings at a time. Buyers must provide proof of funds and this platform does provide a migration service. Legal documentation is provided if you use FE International, and due diligence is a requirement of this platform.

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Frequently Asked Questions (FAQ)

How much does my business need to be worth to list on MicroAcquire?

There is no revenue minimum listed on their website, but it is better to have higher numbers than not in the case of selling, as the higher and healthier the numbers, the more likely you are to sell your business, and quickly.

Is MicroAcquire a legit company?

Yes, MicroAcquire is a legitimate business and platform that has created a marketplace to benefit both the seller and the buyer.

How much does it cost to use MicroAcquire?

MicroAcquire is a free-to-use platform that only requires you to set up an account before selling or buying, but the platform does offer a premium service for $390 a year for buyers.

MicroAcquire Review Conclusion

Based on the pros and cons and the reviews of the public, MicroAcquire is an up-and-coming company that has already provided a great service with fewer fees and more connectivity for users. Not only does MicroAcquire remove the brokerage fees from services that are offered by brokers, but the platform also provides more maneuverability for sellers with no listing fees, Escrow fees, or subscription fees. Plus, there are no commission rates, so every penny a buyer spends, a seller earns, which is true to a marketplace setting. Overall, MicroAcquire is a fair platform that found a necessary niche in the acquisition market and has already successfully filled that role for thousands of users. The premium service for buyers is even a fair price to pay for the benefits they receive. The only downfall of MicroAcquire would be the lack of security surrounding purchases that users make, without due diligence, proof of funds, or other legal documentation, but that’s a part of the risk of having full control over the acquisition process.

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