2025.02.02 - Online Biz Acquisition Opps

Who's buying this Shopify Theme Business Making $1.7mm at 2.9x?

Happy Sunday peeps!

As a reminder none of these listing are paid placements. These are finds in my own personal search for acquisition opps.

10-Year-Old UX Research SaaS – SDE $189K – Asking $650,000 – 3.43x

Listing Type (?): Solid

This SaaS platform streamlines UX research, helping teams analyze, organize, and share insights efficiently. With a 10-year track record, $189K in seller discretionary earnings (SDE), and $263K ARR, it has solid traction in a sticky market.

Businesses (especially managers) invest heavily in analysis tools like this—once integrated into workflows, they become essential. The product's AI-assisted features and high-margin SaaS model make it an attractive acquisition.

The valuation multiple is reasonable for an aged SaaS, but scaling will likely depend on stronger enterprise sales execution. For a buyer with SaaS growth experience, this is a well-positioned and defensible business with expansion potential.

Fast-Growing Supplement eCom – SDE $1.68M – Asking $6.71M – 48x

Listing Type (?): Interesting Find

This supplement eCommerce business has taken off like a rocket, generating $139K in monthly profit on $659K in revenue. Likely uilt by a direct-to-consumer marketing expert with deep industry/supplier connections, it has scaled rapidly with a strong subscription element ($70K+ in recurring revenue) and organic traffic from a TikTok audience of 100K+ followers.

While the growth is undeniable, the challenge is clear: scaling further requires an expert marketer—yet the expert who built it is exiting. Competitive ad dynamics and potential regulatory risks add to the complexity.

Top-Rated Shopify Theme Store – SDE $1.7M – Asking $5M – 2.9x

Listing Type (?): Solid

This Shopify theme business is doing massive revenue with almost no overhead—just one support staffer—and zero marketing. As an established seller on the Shopify Theme Store, it benefits entirely from organic discovery, making its profitability even more impressive.

This is the ultimate picks-and-shovels business. Shopify is the go-to platform for eCommerce, and every year, thousands of new store owners need themes. The nature of the products also makes expansion into Shopify apps a natural next step, a proven model that has led to large holdco roll-ups.

For a buyer who understands eCommerce and digital products, this is a rare find. At this price, it likely won’t last long.

On my own ‘Online Businesses’…

Hiring headaches continue to be a time suck.

The ‘project’ for the first month of 2025 and likely next month, has been recruiting and hiring instructors for my accounting CPE business. While there is no shortage of CPAs looking for freelance instructional work, my objective is to find true experts in specific subject matter. At this point I’ve got 4 and would like to pick up 2-3 more.

After so much time wasted doing interviews with people that I knew within a couple minutes didn’t cut it, last week I set up a preliminary video interview thing using a software called Video Ask (not affiliated). I’m hoping this helps my identify quickly who’s qualified/capable for a personal interview. I’ll be putting it to the test this week.

-- Corey

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