Maximise your
sale price.
The definitive playbook for founders selling their African internet business. Everything you need to know to prepare, list, negotiate, and close at the highest possible price.
Chapters
When to sell
Timing is one of the biggest leverage points in any exit. Selling too early leaves money on the table. Selling too late can mean distress pricing. Here's how to read the signals.
Green light
Warning signs
Pro tip: The best time to sell is when you don't have to. Sellers who list from a position of strength — not desperation — consistently achieve higher multiples and better deal terms.
Maximise your multiple
Most digital businesses sell for 2–5× annual SDE. These six improvements can move you from the bottom to the top of that range — or beyond.
Recurring Revenue
Convert one-time buyers to subscriptions or retainers before listing. Even moving 20% of revenue to recurring can meaningfully lift your multiple.
Reduced Owner Hours
Document every process in SOPs. Hire a VA or manager to handle day-to-day ops. Buyers pay a premium for a business that doesn't need them full-time.
Diversified Revenue
Spread revenue across multiple customers, channels, and products. No single source should exceed 20% of total income.
Growth Trajectory
6–12 months of consistent growth before listing can double your multiple. Buyers are buying the future, not just the history.
Strong Margins
Margins above 40% net signal a lean, efficient operation. Audit and trim unnecessary expenses 3–6 months before listing.
Proprietary Assets
Patents, trademarks, unique datasets, proprietary tech, or exclusive partnerships all add defensibility — and value.
The big lever: A business that generates $100K/yr selling at 2× earns you $200K. The same business with recurring revenue and an operator in place might sell at 4× — that's $400K. Same business, double the exit.
Pre-sale preparation timeline
Sellers who prepare 6–12 months in advance achieve 35% higher multiples on average. Here's your month-by-month playbook.
Writing a listing that sells
Your listing is your sales pitch. These five principles separate listings that attract serious, high-value buyers from those that sit stale for months.
Lead with the headline metric
Open with your single strongest number — ARR, monthly profit, or revenue. Buyers scan dozens of listings; your headline must stop them. "$42K MRR · 3 years · 82% gross margin" beats any paragraph.
Tell the origin story honestly
Why did you build this? What problem does it solve? A compelling founding story builds trust and emotional connection. Buyers who connect with your story are less likely to negotiate hard.
Be transparent about weaknesses
Pre-empt obvious questions. If revenue dipped in Q2, explain why. Buyers will find weaknesses in due diligence — addressing them upfront signals confidence and saves everyone time.
Show the transition path
Describe how you will hand over the business. A clear 30/60/90 day transition plan reduces buyer anxiety — the #1 reason deals stall — and supports a higher price.
Quantify growth opportunities
List 3–5 untapped revenue opportunities you're leaving on the table. "We never ran paid ads", "SEO is untouched", "We have 8,000 dormant email subscribers" — these are gifts to a motivated buyer.
Negotiating the deal
Most first-time sellers leave 10–20% on the table through poor negotiation. Follow these five rules to close at the highest possible price.
Know your walk-away number before the first offer
Set your MAP (Minimum Acceptable Price) privately before talks begin. If a buyer won't meet it, you walk. Sellers who don't know their floor make costly emotional decisions.
Never accept the first offer without countering
Even a fair first offer deserves a counter — at minimum to test the buyer's flexibility. Counter at 5–10% above asking and negotiate toward a number you're proud of.
Use deal structure to bridge price gaps
If you're $50K apart on price, consider an earnout: "I'll accept $X less now, with $X+Y payable if revenue hits $Z in 12 months." Bridges gaps and aligns incentives.
Protect yourself in the reps & warranties
Representations and warranties are where buyers hide risk. Limit your survival period (12 months max), cap your liability at the purchase price, and use escrow holdbacks sparingly.
Get everything in writing immediately
Every verbal agreement is worthless. After every call, send a follow-up email summarising what was discussed. These become the foundation of your LOI and SPA.
Surviving due diligence
Due diligence is where deals die — or accelerate. Your behaviour during DD sends as much signal as your documents. Here's how to sail through it.
Create a DD answer template before it starts
Anticipate the 40 most common due diligence questions and draft answers in advance. This makes the process feel effortless and builds buyer confidence.
Keep a calm, professional tone
DD feels like an interrogation. Every question is normal. Responding defensively or slowly signals something is wrong. Aim to respond to all questions within 24 hours.
Fix small problems proactively
If you discover minor issues during DD prep, fix them before the buyer finds them and disclose proactively. "We noticed X and here's what we did" plays far better than discovery.
Protect truly sensitive information
Redact individual customer names and sensitive commercial terms until escrow is funded. Use watermarked PDFs. Your NDA provides legal protection, but prevention is better.
Closing & transition
The deal isn't done until funds clear and assets transfer. Here's what the final phase looks like — and how to protect yourself throughout.
Escrow & funds
- Buyer deposits funds into our escrow (Paystack / Stripe)
- Funds are held until all conditions are satisfied
- Multi-currency: NGN, USD, GBP, EUR supported
- Partial releases can be structured for earnouts
- Funds released within 48 hours of sign-off
Asset transfer
- Domain, hosting, and accounts transferred per checklist
- Code repositories handed over via GitHub/GitLab
- Social accounts and email lists migrated securely
- Vendor and supplier relationships introduced
- Intellectual property formally assigned
Transition support
- Standard: 30-day handover period
- Premium deals: 60–90 day structured transition
- Training calls with the buyer and their team
- Written knowledge base handed over
- Staff introductions and retention planning
From founders who used this handbook
The proof is in the exits
"I read the handbook twice before listing. Got four offers in my first 10 days and closed at 4.8× ARR. The preparation advice alone was worth everything."
Chidi Okafor
SaaS Founder · Lagos
"The negotiation section helped me recognise a lowball offer for what it was. Countered correctly and closed $80K above the first offer."
Naledi Sithole
Agency Seller · Johannesburg
"The pre-sale timeline is gold. I spent 6 months cleaning up my business before listing. Sold faster and higher than I ever expected."
Yusuf Al-Amin
E-Commerce Founder · Cairo
Now put the handbook
to work.
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