Recently a friend of mine posted about how he sold his 2.5-year-old Amazon FBA business for over $400k, which I thought was incredible.
The twist was it turned out the buyer was a familiar face as well. Spencer Haws of NichePursuits.com was the seller, and Ace Chapman of AceChapman.com was the buyer.
They are both previous guests of the show. Spencer was on episode 18 of The Side Hustle Show talking about niche sites, and Ace was a guest on episode 182, talking about investing in digital real estate.
Why did Spencer decide to get into the Amazon FBA business?
“I had an idea for a product I used every day, couldn’t find exactly what I wanted on Amazon. So, I decided to find a manufacturer that can make a variation of what I like,” Spencer said.
Why was this business an attractive deal for Ace and his investors?
“The thing that I liked about the deal was the different sources of income,” Ace said.
I decided to invite them both on the Side Hustle Show to give you both sides of the deal.
You’ll hear how Spencer built up the business so quickly, why he decided to sell up, and how Ace found himself on the other end of the deal.
Tune in to hear how Spencer built an FBA business from $0-400k in less than 3 years with no prior experience in this private label space, and how Ace helps his clients raise the funds to buy online businesses.
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Learn:
- Why Spencer started his FBA business with no prior experience in the FBA space.
- How he found his product ideas.
- Why he decided to sell his business.
- How he prepped his business for sale and the logistics from the Amazon side.
- How he came to his list price and how FBA businesses are valued.
- The aspects that made this an attractive deal for Ace and his investors.
- The risks involved with selling and buying an FBA business.
- Plans for the business going forward to grow the revenue.
- Ace and Spencer’s #1 tips for Side Hustle Nation.
Links:
- AceChapman.com
- NichePursuits.com
- Empire Flippers
- Spencer’s first appearance on the Side Hustle Show
- Ace’s first appearance on the Side Hustle Show
Download the Free PDF "Highlight Reel" from this Episode
With all of my guest's top tips and resources included.
Enter your email to access it now:
Success! You just unlocked the highlight reel from this episode ... AND over 200 other subscriber-only bonuses. Check your email for details :)
(If it doesn't show up in 5-10 minutes, check spam/promotions.)
You'll also receive my best side hustle tips and weekly-ish newsletter. Opt-out anytime.
Good morning Nick,
Happy Monday my friend. It’s truly amazing what the power of the internet can do for anyone who desires to be a “side hustle millionaire,” by going from humble beginnings out of their house in starting an online business to a online million dollar operation. Keep the side hustle blogs coming. :-)
I’m interested in sharing some of your podcasts on DNN if possible. I didn’t see the embed option. Hopefully you’ll enable the embed option momentarily? Thank you my friend for just being you.
Hi Nick,
I’m a software reseller and kinda glad that you talked with Rob of Fresh Books about the proposals feature. My question about Freshbooks is, can it compete with Quickbooks or Sage? My market is dominated by Quickbooks and Sage at the moment. Great podcast Nick!
Hey Kim,
Thanks for tuning in! My understanding is that Freshbooks is really geared toward the freelancer / service provider customer, but I might give them a call to see what they think of your specific use case. They’re great on the phone and I imagine would be pretty honest if it’s not the right fit! 1.866.303.6061 :)