Everything Justin Cooke said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Empire Flippers charges listing fees to filter out unserious sellers, not for revenue
“To be honest with you though, Nathan, we make very little money on that. That's more of a filter to keep the kind of like, you know, the people are looking just to get a valuation or they're not terribly serious about listing. They're just kind of, you know, t…”
Online businesses typically sell for 24x to 36x their monthly net profit
“It all comes down to the multiple It's a multiple of net monthly profit. And sometimes it's annual, sometimes monthly, depending on which broker you talk to with us, it's monthly. And you're generally going to get somewhere between 24 X and 36 X for your busin…”
Cooke predicts website portfolio investment funds will become a massive asset class
“I think there's a huge, there's going to be a huge industry there. I just think it's really, really early. So we're starting to see other people do that. So it's not just us. And I think that's going to be really big.”
Empire Flippers closed its largest deal ever for a $550k Amazon affiliate site
“I can tell you the biggest sale we've had. We just sold a deal last month for 550,000 dollars was a content play, mostly Amazon affiliate marketing, makes the most of the money through the Amazon associates program.”
Empire Flippers takes a flat 15% brokerage fee on every listed business
“We charged a 15% fee on every business we list and sell.”
Empire Flippers generated ~$700k revenue on $4.56M in transaction volume in 2015
“So we did 4.56 million in sales and that was on 176 deals. So in terms of money we took in for empire flippers is about 700,000 dollars.”
Empire Flippers facilitated over $1M in transaction volume in April 2016 alone
“We did a 1.9 million in Q one. And in April we did just over a million dollars. So our growth has been pretty rapid, especially the last 12 to 18 months or so.”
Empire Flippers pivoted to brokering websites after building them became less profitable
“Over time, we had more demand than we were able to supply. Our process for building sites wasn't as profitable as it was when we started, and that's when we started brokering deals.”
Empire Flippers boasts a 90% all-time sell-through rate for listed businesses
“So we, if you look all time, we've sold better than 90% of the businesses we've listed, but that's a little off because you figure we sell a lot of sites in the 15,000 dollar range, 50,000 dollar range.”
Empire Flippers is approaching $10M in total lifetime transaction volume
“I think we're getting close to ten million in total sales, so maybe nine point something right now, ever.”
Empire Flippers raised an $800k fund to purchase and operate website portfolios
“We raised 800,000 from 11 investors and put together a portfolio of sites.”
Top Founders 4