Local Newsletter Business – $123K Profit – $382K Asking – 3.1x Multiple

Listing Type (?): Solid!

📸 Snapshot:

This is a newsletter-first media business serving a wealthy metro area (pop. 150K) with 22,000 subscribers—94% of whom are local. It’s the first newsletter we’ve seen listed as SBA eligible (note: "pre-qualified" isn’t real; it just meets SBA financing criteria). Revenue is ad-driven, with long-term contracts in place and $331K in pre-sold advertising for 2025–26. Open rates average 64%, and the business has a real team in place, including a dedicated local salesperson.

✅ The Good:

• Real Business Infrastructure: Includes writers, admin, and sales team—not a solo operator newsletter.

• Contracted Revenue: $331K in signed future ad deals helps de-risk future cash flow.

• High Engagement: 64% open rate on 22K subs in a high-income region.

• SBA Eligible: Uncommon for newsletters—suggests clean financials and transferable structure.

⚠️ Watch Out:

• Valuation Feels Rich: At 3.1x profit, this is priced like a growth business—but the seller is exiting to pursue “larger B2B media,” which may hint at a growth ceiling.

• Subscriber Growth Unknown: Are they still investing in subscriber acquisition? Or was that scaled back to juice margin ahead of the sale?

• Ad Buyer Concentration: 55% of revenue comes from just six advertisers. Worth verifying the durability of those relationships.

💡 Bottom Line:
This is a rare thing—a local newsletter with a team, recurring advertiser contracts, and SBA financing on the table. It’s well-run and legit. But at this price, you’ll want to dig into subscriber growth trends and ensure the future ad pipeline is as solid as the past. Could be a great cash-flow buy for the right media operator.

[View Listing]