in this case it's not like you get property, inventory, etc your basically getting his domain name, customers and best practices and policies
Actually, you'd be getting a site with about 30K in coding, 15K in content, and tens of thousands of hours of SEO, marketing, real social media followers and customization.
Another thing to consider, not sure if this guy has a hands off approac all online or if he has a rapport withh customers but with businesses where the owner has a relationship with customers how many of those customers will stay around when the owner is no longer there and its a new owner?
Customer service/interaction is minimal. (Less than an hour per week, usually by email.) As long as the new owners are trained properly (and they will be) the transition will go unnoticed. An incredible amount of effort has been made to answer and resolve every customer service issue before it even arises.
I'm actually thinking of going in an entirely different direction with the site. I truly love the site and our members. Plus, we recently made a few changes to the site which so far have increased growth by 4% per MONTH! Instead of selling it, I'm thinking about merging it with this site and then selling state franchises to others.
Franchisees would be able to build their site (using our proprietary coding) as an extension of OnlineStorageAuctions.com. For example, if a franchisee wanted to develop New York, their URL would be OnlineStorageAuctions.com/New_York. Franchisees would benefit from the OSA brand, media presence, SEO, traffic and AuctionsTX.com's proven system. A business in a box if you will.
My business makes 15k-20k a month but nobody would ever give me 5 years profits for it. I had an offer last year for 200k and the guy said he was overpaying. I tink i'd be lucky to get 50k for my biz however I would never sell it for that as 3 months I can make that.
If you're serious about selling, I can get you in touch with someone who can help you get 2.5 times annual net.