The business for sale includes its iOS and Android applications, website, backend systems, Stripe payment processing account, and marketing contacts. The development cost was approximately $40,000. To maintain operations, a yearly fee of about $140 for data hosting and developer accounts with Apple and Google Play are required. Additionally, the Stripe account will be transferred to the new owner. The current owner is selling the business due to time constraints from a full-time job and offers post-sale support for any inquiries.
Revenue is generated by taking a 3% cut of all transactions through the platform. Expenses include Stripe's processing fees, which are transferred to users paying with a card, while bank account transfers occur at a reduced processing fee of 0.08%, absorbed by the app. Hence, the platform is profitable as long as funds are collected.
Initially aimed at college students, the app was a substitute for a previously popular payment solution acquired and removed from the market. Having been a treasurer in college, the owner identified this opportunity but couldn't market it sufficiently due to other commitments. Marketing contacts with fraternity and sorority groups will be included in the sale.
The future owner could enhance the app's success through effective marketing to build a strong user base. With average annual collections of $75,000 per fraternity or sorority, there is significant revenue potential. The owner is available for advice post-sale to aid in the platform's growth and user acquisition.
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Before making an offer
1. Look for verified sellers. Sellers should verify their email, phone, and government ID. When a seller has completed all verifications, we identify them with a checkmark like this:
2. Review financials. Financials are seller-provided inputs. Always ask for verified financials. Ask for a tax return or request access to their dashboard. if it’s an ecommerce store get a transaction report.
3. Review traffic. Sellers can grant you access to Google Analytics. Ask for read-only access to verify site traffic.
4. Schedule a call. Communication is key. The best way to find out more is to speak directly with the seller. For your protection, keep all communication within Flippa.
5. Make the offer on Flippa. We’re here to help. Flippa does not charge buyers and by making an offer on Flippa you’ll get access to our post-sales support team.
1. Agreements & Contracts.
Connect with a US-based lawyer or purchase asset-specific template legal documents via Flippa Legal.
2. Conduct Due Diligence.
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