Listing teardown · Ecommerce
Teardown: $5.5K Per Month eCommerce Business in the Gaming Niche (Empire Flippers #96846)
Short answer: a first-pass read of a live public listing, asking $163,290: 1 red, 6 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 | $163,290 |
|---|---|
| Stated multiple | 3.0× annual SDE |
| Average monthly revenue / profit | $5,501 / $4,536 |
| Latest month revenue / profit | $1,804 / $1,230 |
| Payback (ask ÷ monthly profit) | 36.0 months on the average; 49.8 months on the last 3 months |
| Reported margin | 82% |
| Age | about 78 months |
| Monetization | eCommerce, Digital Product |
| Owner hours (seller-stated) | 30 a week |
| Top traffic channels | Direct 51%, Organic Search 34%, Referral 6% |
Red flags
- To verify: two traffic figures in the listing differ. Listing average 26,010 unique users/month vs analytics series average 52,351.
Yellow flags
- Recent profit below the period average (-28%). Last-3-month average profit $3,279 vs 12-month average $4,536. If the lower level persists, payback at the asking price is longer than the 12-month average suggests.
- Asking multiple 3.00× is above the typical range. EF for-sale asking multiples (2026-10-06) for eCommerce: p25 2.08×, median 2.5×, p75 2.83× (n=51).
- Platforms the listing relies on or mentions: Google Search, Etsy. Ask how much revenue and traffic depends on each, and whether there has been any past policy or algorithm impact.
- Seller reports 30 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: Shopify, Google Analytics, Stripe. These reduce, but do not remove, the need to reconcile figures to bank deposits.
- About 78 months of operating history (first revenue 2020-04, per the listing).
- Marketplace-reported revenue trend +50% (profit trend +54%).
- Post-sale support is offered: The seller is willing to offer 30 days of post-sale support to explain operations and train the new owner and their team on the business.
Questions to ask the seller
- Which property/date range does each traffic figure cover? Grant read-only analytics access.
- 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)?
- What would happen to revenue if Google Search 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)?
- Has the business ever had a platform ban, penalty, chargeback spike or security incident?
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: 36.0 months on the stated average profit, 45.0 months if profit is 20% lower, 60.0 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.
- “Included in the sale are the comprehensive digital product library, an established customer and email list of nearly 30,000 contacts, social media accounts, and a strong marketplace presence.”
Risks the listing itself discloses: Due to constant changes in technology, competition, and the market as a whole, the product could become irrelevant. If the business relies on third-party marketplaces or platforms to sell, changes in those platforms' algorithms or policies could reduce the product's visibility and sales. Google algorithmic changes could cause traffic to fluctuate.
Sources
- Empire Flippers listing #96846, 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.