Listing teardown · Ecommerce
Empire Flippers listing #98172: Hobbies ecommerce business teardown
Short answer: a first-pass read of the live listing “$10.7K Per Month Amazon FBA Business in the Hobbies Niche”, asking $87,774: 0 red, 4 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 | $87,774 |
|---|---|
| Stated multiple | 2.1× annual SDE |
| Average monthly revenue / profit | $10,718 / $3,483 |
| Latest month revenue / profit | $20,841 / $4,271 |
| Payback (ask ÷ monthly profit) | 25.2 months on the average; 20.2 months on the last 3 months |
| Reported margin | 32% |
| Age | about 15 months |
| Monetization | Amazon FBA |
| Owner hours (seller-stated) | 10 a week |
| Top traffic channels | n/a |
Red flags
- None from the listing's public data.
Yellow flags
- Volatile monthly profit (CV 0.60). Monthly profit was about $80 to $480 in Oct to Dec 2025, the months the listing says the brand pivoted from eBay to Amazon FBA (October 2025), and about $2,900 to $6,100 a month from Jan to Sep 2026. The 12-month average therefore includes the ramp-up. Ask for monthly P&L since launch and how much of the 2026 run rate depends on one top SKU.
- Platform the listing relies on: Amazon (98% of revenue). The listing says 98% of revenue comes through Amazon FBA and 2% through eBay, and discloses that higher Amazon ad prices or an FBA account suspension could hurt the business. Products come from a single supplier in China. Buyers need an active VAT number in every UK/EU country where inventory is stored before the transfer can finalize. Ask about past account health issues and supplier terms.
- Customer/revenue concentration not disclosed.
- Generic reason for sale, and two details to confirm. The reason given is "The Seller would like to explore other opportunities." The listing also gives 10 hours a week of work in one place and about five hours a week in the description, and 30 days of support in one place and two months of post-sale support in the description. Ask the seller to confirm both.
Green flags
- The listing shows connected data providers: Amazon Seller Central, eBay. These reduce, but do not remove, the need to reconcile figures to bank deposits.
- Last-3-month average profit $4,346 is 25% above the 12-month average.
- Seller states about 10 hours a week of owner time (to confirm against the task list).
- Post-sale support is offered: The seller is happy to provide 30 days of support to ensure a smooth transition for a new owner.
Context
- Asking multiple 2.10× is below the typical range. EF for-sale asking multiples (2026-10-06) for Amazon FBA: p25 2.21×, median 2.6×.
Questions to ask the seller
- Explain the low months (refunds, annual-plan timing, one-off costs?).
- 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)?
- 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: 25.2 months on the stated average profit, 31.5 months if profit is 20% lower, 42.0 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.
- “Having successfully transitioned from eBay to Amazon FBA, the business benefits from an established customer base, a registered UK trademark, and streamlined fulfillment through Amazon.”
- “Advertising is minimal, with TACoS below ~1%.”
- “With established Amazon operations, low weekly owner involvement, healthy margins, and two months of post-sale support offered by the seller, the business provides an established platform for further growth in the TCG accessories niche.”
Risks the listing itself discloses: An increase in Amazon ad pricing could make the ads unprofitable. Amazon can suspend or cancel your FBA account due to a breach of its terms of service (ToS).
Questions about this listing
What should I ask the seller of Empire Flippers listing #98172?
Explain the low months (refunds, annual-plan timing, one-off costs?). 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)? Has the business ever had a platform ban, penalty, chargeback spike or security incident?
What flags does Empire Flippers listing #98172 raise?
0 red and 4 yellow flags from FirstPass Memo's 37 published rules, using only the public listing: Volatile monthly profit (CV 0.60); Platform the listing relies on: Amazon (98% of revenue); Customer/revenue concentration not disclosed; Generic reason for sale, and two details to confirm.
Is this teardown a recommendation to buy or not to buy?
No. It is informational screening of public listing data. Flags are questions to answer, not findings, and nothing has been verified with the seller.
Sources
- Empire Flippers listing #98172, public listing data read 26 October 2026.
- FirstPass red-flag rules, the 37 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.