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-SpiritualBEnglish
    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.

  • travelguy23BEnglish
    1·
    1 year ago

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

  • Hopeful_Pea2877BEnglish
    1·
    1 year ago

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

    • WorldofCreativesOPBEnglish
      1·
      1 year ago

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

    • WorldofCreativesOPBEnglish
      1·
      1 year 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.