I’m an entrepreneur with a company that was on Shark Tank.

I helped my gf (now fiance) start a business two years ago and it has grown a lot.

Current stats Nov 2022 - Oct 2022…
- $132k rev the last 12 months
- $75k in profit in the last 12 months
- $7k in revenue last month (no advertising)
- $4k in profit last month (no advertising)

It’s a party card game with a strong trademarked brand, great social following, auto-fulfillment via Amazon, ample growth opportunities, and I only spend about 2 hours a week on it.

The problem is that she’s not passionate about this idea and we have since moved on to another idea. Now, I have not been able to run my main Shark Tank company and focus on growing this at the same time. But I hate to see a business with so much potential go to waste.

I don’t know what to do! I never sold a business before.

Any advice?

  • Whole-Spiritual@alien.topBEnglish
    1·
    1 year ago

    Consider selling 75% of it and doing an earn out with upside. This way if it becomes significant you’re still in for a bit. And you get to pull cash out now.

    I know some people who would look at this thing.

  • oclookin@alien.topBEnglish
    1·
    1 year ago

    “Current stats Nov 2022 - Oct 2022”???

    How about an indication of what ur looking to get for it?

  • kolav3@alien.topBEnglish
    1·
    11 months ago

    You’re making 75k profit, working 2 hours a week, and you wanna sell. How much do you want for it?

  • jlenney1@alien.topBEnglish
    1·
    11 months ago

    Since it’s a fulfillment based website, you could probably set it on Empire flippers… I know many people that have sold through there, and I know their head of marketing as well, great company to do business with www.empireflippers.com

    To give you an idea of the profit, you could probably sell for 3 1/2 to 4 years, the average monthly income over the past 12 months

  • Ok_Silver_8751@alien.topBEnglish
    1·
    11 months ago

    You need a promoter, a project manager and a Comprehensive forecast to sell to PE. Sounds juicy IMO but I don’t have all the info.

  • travelguy23@alien.topBEnglish
    1·
    11 months ago

    Call Empire Flippers. They should be able to sell this easily for maybe up to $300k less commission.

  • Hopeful_Pea2877@alien.topBEnglish
    1·
    11 months ago

    You can pay someone to run it for you remotely at an affordable rate because the performance is actually encouraging

    • WorldofCreatives@alien.topOPBEnglish
      1·
      11 months ago

      A lot of people are saying that. I’m considering it. Just need to set time aside to find the right person maybe.

    • WorldofCreatives@alien.topOPBEnglish
      1·
      11 months ago

      The highest offer I have right now from a motivated buyer is $230k, but I’m willing to go lower than that. Maybe $180,000 + you can keep the remaining inventory.

  • gordy_o@alien.topBEnglish
    1·
    11 months ago

    I manage an eCom agency and we help brands with this exact thing. We manage well known brands on the platform and help position them for the best endgame possible. Would do what others are saying and have some experts put efforts to getting the valuation higher before truly committing to selling, especially if you can fund their costs to manage/grow your business. Unless time is of the essence for you on the other venture.