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FOR SALE: 6 Y/O Upward-Trending Software-Assisted Remote Service Business


Up for sale is an upward-trending 6-year-old business that provides remote services to customers. Over the past 3 months, 39% of orders have been placed by returning customers (who have ordered in the past), and another 25% of orders have been referrals from past customers. This business can be managed from anywhere in the world, though the new owner does need to speak and write fluent English in order to service customers.

The business has 4 distinct revenue streams:

  1. Service revenue - The owner himself provides services for customers. Over the past 12 months, his services have generated about 55% of the business' total revenue.

  2. Team service revenue - There are currently 10 additional remote team members who also provide services to customers (accounting for about 41% of total revenue). These team members are paid anywhere from 60% to 80% of the revenues they generate, but having them onboard added about $6,200 to the bottom line over the past 12 months.

  3. Team membership fees - In addition to retaining 20-40% of the team members' revenues, each of the team members also pays a monthly or annual membership fee for use of the business' software and systems. These membership fees totaled ~$2,400 over the past 12 months and made up 3.5% of total revenue.

  4. Affiliate revenue - While not currently a significant earner, affiliate links on the company's website generates additional revenue that goes straight to the bottom line. Affiliate links generated $214 in revenue/profit over the past 12 months.

Over the past 12 months (Feb 2021 - Jan 2022), the business has generated about $68,000 in gross revenue (an average of ~$5,700 gross revenue per month) and $43,839 in net profit (an average of $3,653 net profit per month). The business boasts an amazing 64% net profit margin after all expenses.

The COVID-19 pandemic has seriously limited this business' potential over the past two years. Its organic rankings have consistently been improving, but the pandemic has kept the revenues fairly grounded (which will make perfect sense after you sign the NDA and learn the market/niche the business operates in). With an end to COVID restrictions finally in sight, you can see in the line chart below how the business has really started to take off over the past couple of months (Dec 2021 and Jan 2022).

Monthly Service Revenue (Last 3 Years)

With the way the business is exploding, the owner (who is a full-time real estate agent) simply doesn't have time to manage and grow the business anymore. But now is the perfect time for you to buy! The asking price is based on the Trailing Twelve Months (TTM) period of Feb 2021 - Jan 2022. The vast majority of this 12-month period was when the COVID pandemic was seriously limiting the business' revenue and profits... thus, a lower asking price for you!

Key Information

  • Niche: Please sign the NDA to begin due diligence & get additional information
  • Store Model: Software-assisted remote services
  • P&L Period: 12 months ended January 2022
  • Business Age: ~6 years (launched in 2016)
  • Avg. Monthly Gross Revenue: $5,682
  • Avg. Monthly Net Profit: $3,653
  • Net Profit Margin: 64.3% of revenue
  • Owner Time Requirement: 15-20 hours per week

Asking Price: $135,000

The seller's $135,000 asking price was calculated as follows...

Trailing 12-Month Net Profit (Feb 2021 - Jan 2022): $43,839
x 3.1x Annual Earnings Multiplier: $135,901
Rounded down to $135,000

The key factors justifying the 3.1x earnings multiplier are:

  • The business' revenues and profits have recently taken off due to a combination of 1) better organic rankings and 2) the COVID pandemic seemingly having an end in sight.

  • The business has multiple sales channels and is primed for additional growth by adding more team members.

  • The business is 6 years old and has proven to have longevity and staying power.

  • The business has a very high net profit margin (64%).

  • There are several highly attractive growth opportunities the new owner can immediately pursue.

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P&L and Financial Information

Here is the accrual-basis P&L Statement for the most recent 12-month period (Feb 2021 - Jan 2022). Click on the image to see a larger version of the P&L in a new tab.

Profit & Loss Statement (Feb 2021 - Jan 2022)

Please note that amounts paid for SEO services over this time period have been omitted from the P&L, as those costs didn't provide any immediate traffic or leads and were instead undertaken to improve the long-term organic rankings of the site.

The current owner will of course give the eventual buyer the opportunity to conduct extensive due diligence, including a live "screen-share" web meeting where you’ll be able to view reports and transactions in the store admin panel, payment accounts, Google Analytics, etc. to verify and confirm all of the figures shown in the P&L above.


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About the Market & Niche

As noted above, the store provides remote services to customers using largely automated software and systems. To learn more about the specific type of services being provided and the market/niche the business operates within, please sign the NDA.


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Marketing and Sales Channels

The business primarily uses 4 marketing channels to obtain customers:

  1. Return customers (39% of orders over the past 3 months) - Over the past 6 years, the business has serviced over 500 customers. Many of these customers request additional services the next time they are in need (which is generally about once a year). The current owner has sent a few emails and newsletter to past clients, but he admits it's been quite sporadic. There is definitely a lot of room for improvement in this area.

  2. Referrals (25% of orders over the past 3 months) - The business gets quite a lot of referrals from happy customers telling their family and friends about their great experience. This is happening completely naturally right now. The business doesn't currently offer referral bonuses/commissions to customers who refer their friends, but this is certainly a growth opportunity that could and should be explored.

  3. Web traffic - The owner has wisely invested in SEO services for a couple of years to improve the site's on-page SEO and organic rankings. This has been a long-term play which you (the new owner) will benefit from, since it has all been geared around long-term rankings (not a penny has been spent on pay-per-click, banner ads or lead generation to bring in immediate traffic). The website currently averages about 730 visits per month. 

  4. Google local business results - The business has absolutely stellar Google business reviews, which brings in a lot of customers who have performed searches online. Over the past 5 years, the business has accumulated over 80 Google reviews and has an impeccable 5.0-star rating.

 As noted above, the business currently generates revenues through 4 distinct sales channels:

  1. Service revenue (55% of total revenue) - The owner currently spends 10-15 hours per week servicing customers himself. (Note: He spends the remaining ~5 hours per week recruiting, training and overseeing team members, as well as maintaining the company's books and records.) This is high-margin revenue since he doesn't have to pay 60-80% of the revenue out as contract labor to a team member. If you (as the new owner) wanted to scale back on providing direct services over time (especially as team-generated revenue increases), you could certainly do so. 

  2. Team service revenue (41% of total revenue) - The business currently has 10 remote team members (all of whom are independent contractors) who also provide services to customers. Depending on their volume and experience level, each team member is paid (as contract labor) between 60% and 80% of the revenue they generate. There is virtually limitless potential in bringing on additional team members and getting them trained and set up to provide services. The owner will provide training as well as policies and procedures for how to recruit, train and set up additional team members.

  3. Team membership fees (3.5% or revenue) - Each team member currently pays either a monthly or annual fee (in addition to generating revenue and profit for the business), so adding more team members is a profit center of its own. As it currently stands, the revenue generated from team membership fees covers 100% of the business' website and software/subscription costs. Each additional person added to the team will generate additional profit.

  4. Affiliate revenue (0.3% of revenue) - The business also generates revenue through affiliate links on its website, which brought in an extra $214 in profit over the past year.

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Store Operations

At its current revenue level reflected in the P&L above, this business requires approximately 15-20 hours per week to run. The owner currently provides services directly to customers (accounting for 53% of total revenue), though his long-term vision was to transition to having team members provide all services so he could move into a more passive oversight role.

The team members all work remotely and are paid as independent contractors, completely based on the revenues they generate. Depending on experience and volume, each contractor earns between 60% and 80% of the revenue he/she generates.

This business can easily be managed and operated from anywhere in the world. That said, the new owner needs to be able to speak and write English fluently in order to service the business' customers.


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Top Growth Opportunities

  • Bring on more team members - Recruiting additional team members is easily the biggest growth opportunity. Each new team member generates ~$29/month in membership fee revenue, plus the business will retain 20-40% of all of the revenue that team member generates. The sky's the limit on the number of team members the business could have, as each team member could work his/her own local market.
  • Sell purchasable products on the website - Just a couple months ago, the owner added a couple of purchasable products on the website. These products are ideal for businesses (rather than private consumers), which opens up a whole new market for the business. With things taking off as they have over the past couple months, the owner hasn't had the time to push these new products yet. But he is confident they will add yet another sales channel for the business long-term.
  • Market through social media (free and paid) - Outside of a few random posts that have been seen primarily by his own family and friends, the owner hasn't done much with social media at all. Social media marketing could be a gold mine for this business.
  • Engage past customers - As mentioned above, the owner hasn't done a very good job engaging past customers. He sends out an occasional newsletter, but he's been very inconsistent with email marketing. Also, he hasn't put any kind of referral reward program in place for actually rewarding past customers for referring their family and friends. A lot of improvements could be made to take greater advantage of the customer list. Remember, past customers absolutely rave about the services they've received (5.0 rating after 80+ reviews)!

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Included with the Sale

The sale includes all of the following...

  • The business name, domain name and website (including all textual and graphical content)
  • All software and systems required to operate the business
  • All customer lists and email lists associated with the business
  • All social media accounts (Facebook, Twitter, Instagram, etc.)
  • All contracts with existing team members and policies & procedures for adding additional team members
  • 30 days of support to train you/your team on how to run the business, manage the team, and pursue growth opportunities

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Buying Process

You can make an offer for this online business here. We will immediately present your offer to the sellers. If they accept your offer, we'll notify you immediately and update this page to let other interested parties know that an offer has been accepted.

Once your offer is accepted, a 10-day due diligence period will begin (during which time other interested parties may place a "back-up offer" in case the sale falls through for whatever reason). During this 10-day due diligence period, we'll work closely with you and the seller to help you complete due diligence. Among other things, this will include doing a live screen-share web meeting so you can review financial information, the store admin panel, payment accounts, Google Analytics, etc. We'll also send you the Asset Purchase Agreement (APA) for you to review.

Once the APA is signed and the sale is completed, we will update this page to let other interested parties know that the sale has been finalized and remove this listing from the Store Coach Website Marketplace.


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Disclaimer: Store Coach, Inc. is acting as the broker of the sale of this website/business and is merely presenting figures and information provided by the website/business owner. The website/business owner is solely responsible for all financial figures, statements, claims, and information provided on this page as well as all financial figures, statements, claims and information which may be provided to interested parties during the due diligence process. It is the responsibility of the eventual buyer to review and verify all financial figures, statements, claims, and information provided by the website/business owner.

 

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