Incredible opportunity to acquire unique dating site with over 200,000 registered users and $400,000 in cumulative revenue.
Is this business your perfect match?
Start with the business walkthrough below from the owner himself.
Tell us a little about yourself. What’s your background? How did you start with this project?
I’m a 26 year old entrepreneur from Canada. I dropped out of business school in my final year in 2016 after I started a successful Shopify business. Since 2016, I’ve started multiple successful online businesses generating ~$10 million in sales.
I started Sugarbae in early 2020 originally as a side project to strengthen my development skills. However I quickly saw it had massive potential so I decided to work on it full time throughout 2020.
What drove the large sales spike in August and September 2020?
From January – May 2020 I built the “MVP” (Minimum-Viable-Product) version of the dating software. I launched in June 2020 and it had immediate success generating multiple thousands of dollars in profit per day. In August and September, I decided to scale the marketing efforts to see what the business potential was. In August I generated $130K in revenue and had proven to myself the potential for this business was massive.
However, the software was not ready at this time for that level of scale. I decided to reduce the level of marketing so I could focus on improving the product. I spent October – December building a much improved version of the app, that is now ready for massive scale and high revenue.
How have you marketed the product? Where are most of your customers coming from?
So far I have solely relied on Google Ads as a paid acquisition channel. We also receive a significant number of signups from direct and organic traffic. One of the biggest growth opportunities for this business is to find additional acquisition channels and to build out SEO / Content marketing so the business is not reliant on paid ads.
How many daily/monthly active users do you have?
Overall Sugarbae has 250K signups. According to Google Analytics November 2020 had 31,161 Unique users and October 2020 had 77,465 Users.
How much time does it take to run the business, who else is needed on the team, and what is automated?
The best part of this business is that it is highly automated and very lean.
I run the business completely by myself. And the overhead expenses are very minimal (about 2.5K per month for the servers and other software). The customer service and moderation is automated using Amazon AI technology.
All the time I spend working on the business is to improve and add additional features. The software is fully complete now, so hypothetically a new business owner could run this business profitably with very little time invested. Maybe just a few hours a week to check and make sure everything is running ok.
Can you list a few opportunities for a potential new owner to continue growing the business?
Seeking.com is the market leader in this niche and does $50M in revenue per year.
I believe Sugarbae’s software is comparable, if not better than Seeking’s.
The potential for this business is massive, and has been validated by the $400K+ in revenue I’ve achieved since June 2020.
A new business owner can reach massive scale with this business by investing in strong digital marketing efforts. Finding new paid acquisition channels and building out a content marketing SEO strategy is a sure fire way to reach multiple million dollar revenue figures in 2021 and beyond.