Listing teardown · Ecommerce
Teardown: $35.2K Per Month Amazon FBA Business in the Supplements Niche (Empire Flippers #96185)
Short answer: a first-pass read of a live public listing, asking $424,477: 1 red, 7 yellow and 3 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 | $424,477 |
|---|---|
| Stated multiple | 3.2× annual SDE |
| Average monthly revenue / profit | $33,819 / $11,054 |
| Latest month revenue / profit | $24,200 / $9,189 |
| Payback (ask ÷ monthly profit) | 38.4 months on the average; 48.3 months on the last 3 months |
| Reported margin | 33% |
| Age | about 84 months |
| Monetization | Amazon FBA |
| Owner hours (seller-stated) | 15 a week |
| Top traffic channels | n/a |
Red flags
- Marketplace-reported revenue trend -53%. Profit trend -55%.
Yellow flags
- Recent profit below the period average (-21%). Last-3-month average profit $8,785 vs 12-month average $11,054. If the lower level persists, payback at the asking price is longer than the 12-month average suggests.
- Asking multiple 3.20× is above the typical range. EF for-sale asking multiples (2026-10-06) for Amazon FBA: p25 2.21×, median 2.6×, p75 2.92× (n=76).
- No churn figure shown for the recurring revenue. Ask for monthly cancellations and renewals for the last 12 months.
- Platforms the listing relies on or mentions: Amazon. Ask how much revenue and traffic depends on each, and whether there has been any past policy or algorithm impact.
- Seller reports 15 hrs/week. Above the checker's default limit of 10 hours a week.
- Customer/revenue concentration not disclosed.
- Generic reason for sale. The Seller would like to explore other opportunities.
Green flags
- The listing shows connected data providers: Amazon Seller Central, Shopify. These reduce, but do not remove, the need to reconcile figures to bank deposits.
- About 84 months of operating history (first revenue 2019-10, per the listing).
- Post-sale support is offered: The seller is willing to offer a minimum of 30 days of phone and email support, including introductions to suppliers, manufacturers, service providers, and key operating partners, as well as guidance on Amazon operations, PPC strategy, inventory planning, product development, and general business operations.
Questions to ask the seller
- What is causing the year-over-year decline and what has been tried?
- What drove the last 3 months below the 12-month average, and what do month-to-date numbers show?
- What justifies pricing above comparable listings (growth, verified retention, moat)?
- Monthly logo and revenue churn for the last 12 months (cohort table if possible).
- What would happen to revenue if Amazon changed its policy/API tomorrow? Any past incidents?
- What share of revenue comes from the top 1 and top 3 customers (or traffic/affiliate partners)?
- Why sell now, and what would you do with the business if it doesn't sell?
- 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)?
What to verify
- Store and payment-processor reports (Shopify/WooCommerce, Stripe, PayPal, marketplaces) reconciled to bank deposits
- Landed cost per SKU, ad spend and refunds month by month, so the margin can be rebuilt
- Inventory on hand, its valuation and whether it is included in the price
- Supplier, 3PL and contractor agreements and whether they are assignable
- Ad-account history (CPA, ROAS) and analytics by channel for the listing's 12 months
- Trademark, domain and marketplace-account transfer requirements
Payback at the asking price: 38.4 months on the stated average profit, 48.0 months if profit is 20% lower, 64.0 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.
- “Approximately 95% of sales are generated through Amazon, while the Shopify storefront accounts for the remaining 5%, providing a meaningful opportunity for future direct-to-consumer growth.”
- “This business represents an attractive opportunity for Buyers seeking an established and scalable brand with recurring revenue, strong customer loyalty, and clear avenues for growth through direct-to-consumer expansion, new product launches, and wholesale or retail partnerships.”
Risks the listing itself discloses: An increase in Amazon ad pricing could negatively affect profitability. Amazon can suspend or cancel your FBA account due to a breach of its terms of service (ToS).
Sources
- Empire Flippers listing #96185, 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.