Tell us a little about yourself. What’s your background? How did you start the business?

I’m a 19-year-old entrepreneur with a background in creating content online. 

I started the business as I saw a gap in the market for engaging video tutorials focused on elementary school education and no other company at the time was offering that.

As a SaaS business, what can you tell us about your Customer Lifetime Value (CLV) and Customer Acquisition Cost (CAC)

£367/$500 per customer. Average CAC is £137/$190

How have you marketed the product and where are your customers originating from?

A mix of organic YouTube search, Facebook Ads and word of mouth

Is the asset on your listing owner-operated, how much time does it take to run the business, who else is needed on the team, and what is automated?

Since the courses have been completed the entire business is now automated. There is one staff member that handles all the daily operations, from social media posts, customer support tickets, sales calls and everything in between.

Since Study Hat sells digital products it makes the entire business very streamlined and easy to run. Maintaining the business would take a maximum amount of 5 hours per week if that.

What does someone need to do to continue operating the business in its current form?

The only thing the new owner would need to do is maintain/scale the ads which take around 1 hour to complete each week. I have created SOPs on how to go about doing this therefore even a complete beginner will understand how it works.

Can you list a few opportunities for a potential new owner to continue growing the business?

Opportunities for New Owner:

• Capitalise on the Emerging Market. VC’s/Investors are looking to get involved in online education companies

• Market existing products using different channels – SEO/Youtube Ads/Google Ads

• Turn one of the products into a SAAS model as it would be better suited and can bring in a consistent stream of monthly revenue

• Launch current courses into different countries

• Introduce further revenue streams

• Introduce affiliates since digital products have higher margins and there’s room for growth

What has been the evolution of this asset since its launch?

Study Hat started out as a company that simply offered exam resources to students in the UK. We’ve since expanded into Singapore, the USA & UAE offering our products to not only students but also tutors too. We’ve combined what students would find in outdated textbooks/worksheets into fun and engaging online classes.

I believe product comes first in any business therefore over the past year, the team have worked on improving this day by day to get our resources up to a top industry standard. This has allowed many of our students to pass their exams because of our platform.

How does this business make money? What are the current revenue streams?

Selling our online courses to students and tutors via various channels.

What marketing channels are most profitable for the business?

Facebook/YouTube/Word of Mouth

How does the business currently acquire customers and what is your breakdown for marketing costs?

Run targeted ads that go into a refined customer acquisition funnel. Typically aim for a 2-3X ROAS on any ads. Since it’s a digital product you have the ability to spend more to acquire a customer. 

£367/$500 per customer. Average CAC is £137/$190

How big is your current team? How many people does it take to run this business?

1 full-time staff member.

What’s the reason for selling your business on Flippa?

I started this as a side project and don’t have any time to take the business any further due to other commitments. Instead of raising capital, I’ve decided to sell as I would love for somebody to take this next level.