It is based on Bubble and we launched it in May of last year. Since then, we have generated $45K in revenue. We currently generate about $2K in MRR. However, we need a vacation because we are exhausted.
Should we put it on automatic mode or sell it?
What kind of price should we set if we decide to sell it?
Is there anything more we can do?
This is a positive outcome, in my opinion. Take a vacation, give it some thought, and if you decide you still want to sell, then take a break. A price may be two times the annual revenue ($45k x 2).
Mr. 2k narrates a tale. The 45k indicates they sold some lifetime memberships, which made greater numbers short term and no money from those consumers for a lifetime. Annual revenue is about $25k.
What are the industry, tech stack, revenue, and product?
I have experienced something similar in the past, so I completely understand.
Although there has never been a truly good framework to deal with auto-mode, it is still an option.
Sick and tired after nine months and a year? Are you sure you’re suited for being an owner? Maybe it would be best to sell. It takes work to build a true business. Before it really takes off, it may take five to ten years.
Depending on where you live, 2K MRR might not even be enough to pay your founders’ salaries before you burn out. It’s a wise decision to sell it if you are unable to find a way out.
I’ve been using Flippa’s Free Valuation for a while now and I truly like it. It provides a fast, cost-free SaaS valuation, which can assist you in determining the asking price should you decide to sell.
I’m not sure if there are many buyers for a business with a $24K ARR. Typically, buyers prefer businesses with revenues in the millions. If your business is smaller, it might be more cost-effective and profitable for someone to replicate your intellectual property instead.
It seems like you have a basic product-market fit. If you have a significant customer base that could be appealing to potential buyers, that might increase the value. Also, consider how much growth potential remains in your total addressable market (TAM), as this could influence a buyer’s decision.
If you do find a buyer, you might expect a multiple of around 5X."