Listing teardown · SaaS
Teardown: $38.1K Per Month Digital Product Business in the Legal Niche (Empire Flippers #83697)
Short answer: a first-pass read of a live public listing, asking $340,800: 2 red, 2 yellow and 4 green flags from the checker's rules. Every figure comes from the public listing page; nothing here has been verified with the seller.
How to read this. Flags are questions to answer, not findings. A red flag means the listing's own figures or text need an explanation before you spend money on diligence; it does not mean anything is wrong. Sellers often have good answers. Listing details can change after the date above.
Snapshot (as listed)
| Asking price | $340,800 |
|---|---|
| Stated multiple | 2.0× annual SDE |
| Average monthly revenue / profit | $36,290 / $14,200 |
| Latest month revenue / profit | $21,783 / $9,396 |
| Payback (ask ÷ monthly profit) | 24.0 months on the average; 46.5 months on the last 3 months |
| Reported margin | 39% |
| Age | about 63 months |
| Monetization | Digital Product, SaaS |
| Owner hours (seller-stated) | 2 a week |
| Top traffic channels | Direct 47%, Organic Search 26%, Paid Search 22% |
Red flags
- Recent profit below the period average (-48%). Last-3-month average profit $7,334 vs 12-month average $14,200. If the lower level persists, payback at the asking price is longer than the 12-month average suggests.
- To verify: two traffic figures in the listing differ. Listing average 3,568 unique users/month vs analytics series average 11,084.
Yellow flags
- No churn figure shown for the recurring revenue. Ask for monthly cancellations and renewals for the last 12 months.
- Customer/revenue concentration not disclosed.
Green flags
- The listing shows connected data providers: Stripe. These reduce, but do not remove, the need to reconcile figures to bank deposits.
- About 63 months of operating history (first revenue 2021-07, per the listing).
- Seller states about 2 hours a week of owner time (to confirm against the task list).
- Post-sale support is offered: The Seller is willing to offer at least 30 days of email support and/or calls to ensure a smooth transition for the Buyer.
Questions to ask the seller
- What drove the last 3 months below the 12-month average, and what do month-to-date numbers show?
- Which property/date range does each traffic figure cover? Grant read-only analytics access.
- Monthly logo and revenue churn for the last 12 months (cohort table if possible).
- What share of revenue comes from the top 1 and top 3 customers (or traffic/affiliate partners)?
- Provide a month-by-month P&L for the last 24 months with every cost line.
- What exactly transfers (domains, code, accounts, trademarks, email lists, contractor relationships)?
- Has the business ever had a platform ban, penalty, chargeback spike or security incident?
What to verify
- Read-only Stripe (or billing) access, reconciled to bank deposits for 12–24 months
- MRR and churn rebuilt from the billing export (logo and revenue churn, new subscriptions per month)
- A month-by-month P&L with every cost line, including contractors, hosting and the owner's time
- Analytics and Search Console exports for the same 12 months as the listing's traffic figures
- Code, hosting and database walkthrough; who holds the keys; what the payment-account transfer involves
- Contractor agreements and IP assignment for code and content
Payback at the asking price: 24.0 months on the stated average profit, 30.0 months if profit is 20% lower, 40.0 months if 40% lower. This is arithmetic on the listing's figures, not a valuation or a bid suggestion.
Seller statements to check against evidence
Quoted from the listing. Each is a reasonable thing for a seller to say and worth confirming with documents.
- “The seller believes that there is potential for increasing traffic through EEAT and potential to increase prices to drive revenue growth”
Risks the listing itself discloses: Google algorithmic changes could cause traffic to fluctuate Ad campaigns could become more competitive
Sources
- Empire Flippers listing #83697, public listing data read 13 October 2026.
- FirstPass red-flag rules, the 33 published rules used for the flags above.
Related
FirstPass Memo is independent and buyer-paid. Not affiliated with, paid by or endorsed by Empire Flippers or the seller. Informational screening only, not investment, legal, tax or valuation advice, and not an audit. Figures are the seller's and marketplace's, as listed on the date above. If you are the seller or broker and something here is out of date, email hello@firstpassmemo.com and we will correct it.