2025.01.01 - Online Business Acquisition Opps

Hey hey peeps and happy New Year!

Lots going on from my end. Getting ads cranking for the accounting CPE business. Working with CPAs hired to instruct/create new courses. And still sorting out the tech for compliance with the new FTC 1:1 consent regulations for my lead gen business.

This AcumenWire newsletter has grown a bit with total list now at over 400. One of the things I may do is a start a podcast just to share more insight into what I am doing in my businesses, and businesses I am looking at. I get a fair bit of questions and it would probably be helpful to make some of my responses public.

Ah so much to do, so much on the horizon. For now we got 3 deals today.

1/ Custom Software Agency | Healthcare & HealthTech - $300K SDE - 4.3x Profit

2/ Real Estate Marketing SaaS - $208K SDE - 3.5x

3/ Premium Cannabis Hardware Shopify Brand - $407K SDE - 2.45x

(interesting find) Block Chain Security Audit Tool - $764k SDE - 3.4x

🔫 Gun to my head question:

If I had to write a check for one of the businesses in this email, with no other details which one would it be?

I don’t really like the idea of getting into the custom software development space as those are long and tedious project. I like to sell, collect and complete in one shot. The Cannabis Hardware brand seems like a great business with many nice qualities in the teaser, but navigating the advertising platforms rules/restrictions of advertising bongs isn’t a bridge I really feel like dealing with, especially when there is a SaaS business in a market I like…. so I’d go with the real estate marketing SaaS. It’s an aged SaaS business, in an evergreen industry (Redfin still hasn’t killed the re agent model).

1/ Custom Software Agency | Healthcare & HealthTech - $300K SDE - 4.3x Profit

This custom software development agency focuses on healthcare organizations and HealthTech startups, leveraging over 13 years of experience. Generating $1.3M in annual revenue and $500K in seller discretionary earnings (SDE), the business boasts a strong track record of creating solutions tailored to the healthcare industry's unique regulatory and operational challenges.

The company has a highly skilled development team capable of delivering complex projects, with an average project size of $110,000. Its mix of fixed-fee and retainer-based work ensures consistent cash flow, while its specialization in healthcare positions it in a lucrative, high-demand niche.

Corey's Take: This is an intriguing opportunity in a market with both deep pockets and high barriers to entry. Healthcare’s evolving needs for custom software ensure consistent demand, and the agency’s reputation is a key differentiator. The core value here lies in the development team—you need to trust their expertise so you can focus on business development and outreach. This isn’t a business for a direct-response marketer; success requires strong relationship-building skills to secure high-value contracts.

While the 4.3x profit multiple may seem high, it’s reasonable considering the niche, profitability, and potential for growth. A buyer with the right skills in sales and relationship management could take this to the next level in an industry where quality and trust are paramount.

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2/ Real Estate Marketing SaaS - $208K SDE - 3.5x

This 23-year-old SaaS business specializes in delivering marketing and technology solutions for the real estate industry. With $735,000 in annual revenue and $208,000 in seller discretionary earnings (SDE), the business operates on a subscription-based model, serving 400 active clients at an average of $100 per month.

The company’s offerings include IDX integrations, customizable website builders, and dual-listing uploaders, providing critical tools for real estate professionals to streamline their workflows. Recently, its tech stack was upgraded to reduce technical debt and ensure scalability. Owner involvement is minimal, requiring less than five hours per week.

Despite its longevity, the business has grown exclusively through organic SEO and word-of-mouth referrals, with no paid advertising or formal marketing campaigns in place—offering significant untapped potential for a new owner.

Corey's Take:
Priced at a reasonable 3.5x SDE multiple, this business combines stability with growth potential. The recurring revenue model and automated operations make it highly attractive, especially for buyers seeking a low-maintenance opportunity. The IDX integrations are particularly valuable, as they provide a strong competitive advantage in servicing diverse markets—an area that is traditionally challenging to execute well.

While the $100 per month subscription might seem low-ticket, the true potential lies in upselling and cross-selling. Introducing premium features, analytics tools, or additional service tiers could significantly boost customer lifetime value (CLV).

The lack of marketing is a clear growth opportunity. By implementing paid advertising, email campaigns, and an active social media presence, a buyer could rapidly expand the client base. Furthermore, the company’s entry into commercial real estate and property management opens doors to new revenue streams with minimal competition.

For $730,000, this SaaS business offers a rare mix of steady recurring revenue, scalability, and substantial upside for a buyer ready to unlock its full potential.

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3/ Premium Cannabis Hardware Shopify Brand - $407K SDE - 2.45x

This direct-to-consumer (DTC) Shopify brand specializes in premium smoking accessories, generating $1.1 million in annual revenue with $407,000 in seller discretionary earnings (SDE) and a 36.6% profit margin. Operating in the $3.5 billion cannabis hardware market, the brand has carved out a niche with innovative designs, high-quality materials, and sophisticated aesthetics.

Key features include a high average order value (AOV) of $115, a 30% returning customer rate, and a 35,000-subscriber email list that contributes 40% of total revenue. Recent operational improvements, such as transitioning to a professional third-party logistics (3PL) provider and maintaining stable supplier relationships in China, have streamlined processes and reduced owner workload.

The founder is selling due to significant health challenges, a transparent and reasonable motivation that is favorable from a buyer’s perspective. Despite this, the founder remains committed to supporting the transition and launching new products that are ready for release.

Corey's Take:
This business ticks two of my main boxes for e-commerce: solid margins (36.6%) and 3PL fulfillment, ensuring scalability without operational headaches. The 30% returning customer rate is another strong indicator of a loyal customer base, which is critical in sustaining long-term growth.

A potential challenge is advertising. While this business has grown organically so far, some advertising platforms may limit or restrict campaigns for smoking-related products. A buyer would need to navigate this hurdle strategically, perhaps by leveraging influencers, partnerships, or non-restricted channels.

Priced at $1 million plus inventory (2.45x SDE), this business seems like a great opportunity — so long as you can make a growth plan that is compliant within advertising platform rules.

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(interesting find) Block Chain Security Audit Tool - $764k SDE - 3.4x

This one isn’t in my wheelhouse, but I wish it were. An established audit SaaS in the ever growing crypto space is certainly going to scooped up by someone.

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