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Ask IH: Who's selling their side projects?
By
Yoav
October 7, 2018
Hey guys!
Anyone interested in selling a side project? :-) Please share!
You can check out Transferslot, it's a marketplace to sell & buy projects, exactly what you are looking for :) (I'm the owner)
This is honestly a great idea. I would use this service probably at some point. However, looking through some of the lots there. There is some serious delusion about value. Asking prices of $150k for a project that pulls in only $1,400 MRR? Asking $10k for a project with $0 MRR?
I think you should work towards helping or educating your users on value. Those crazy valuations actually made me leave the site instead of browsing further.
We do spend a lot of time on the pricing part. Too often, sellers ask for a price way outside the reasonable range, and too often we reach out to them explaining it's not possible.
The one you are referring too has more things under the hood that explains the high price, like apps for iOS & Android, a lot of subscribers/users, etc.
In general, we refuses projects with an asking price higher than 5k when there are no revenues, except if there is more things attached.
Hope that clarifies it :)
I was one of those with unrealistic expectations to sell a $0 MRR project for a few thousand on Transferslot. It was declined, but there was no reason given. I wish somebody suggested a better price for it.
Yeah, that's also a big issue on Transferslot we are facing, and plan to fix soon ; Pricing with too high asking price receive an email with a new offer (which can be perceived as "you don't deserve that much") or refuse it when it doesn't meet our criteria. The last part is also an automated email that is not great : there is no explaining about the refusal, which frustate the potential buyer.
Both these issues will be fixed soon
I had a look at the listing, intrigued by your comment but I don't see anything in there that justifies that price tag? This comment at the end of the listing...
How can the future owner generate more revenues?
The potential is huge: adding adds with the free version, switching to recurrent subscriptions. Selling bracelet along with the app as combo.
Come on, this isn't highschool business with an asking price of $150k.
Sorry to be so negative.
You are right to be negative, as long as your comment brings arguments to the table :)
And you are right ; When people submit their price, we have a textarea right under it, that says "Explain your price". Too often people says things like "With the right marketing strategy, this project can makes millions".
This is a pain point for us for many reasons that I won't explain here, but the main thing is that it doesn't help both sides ; The seller won't sell, and the potential buyers, like you, will go away.
So we try to track down these, and ask to modify the price (always difficult to ask) but sometimes, we miss one.
So, my turn to ask a question: Do you have a suggestion in mind on how to price the projects being sold on Transferslot? Our current ideas are to
Do you have another alternative? I'd be curious to know :)
I totally understand the predicament you are facing. It is a tough fix.
I don't have any solid advice on it but maybe some suggestions;
If they have no recurring revenue, they should be asked additional questions. What IP do they hold? How many hours were spent on this project to get to where it is (dev hours etc).
The most important question to ask here is WHY. Why do they have no recurring revenue. What stopped them from getting a customer? Were CAC too high? These are the things I need to know so I can think if I am able to break that barrier and make the project profitable.
Essentially this, to me, is a very data driven decision. I'm not looking to buy side projects that I would be passionate about. I would create those myself. I am shopping for a business here. Something that has the potential to make money.
I discussed with my associate about this today, showed him this thread.
We came to the conclusion that we will soon release an update that will allow only SaaS projects making revenues, and instead of asking for a price, we will offer a "free valuation tool". The idea being that WE will suggest the price, based on the information we have about the project (We have more information on the backend than what's displayed ; we pushed an update a few weeks after the design, that asked for more details, that's why you don't have all the numbers on the front).
With this update, I'm hoping the result will be better :)
Possibly.
https://manicoti.com
https://maspeak.com
https://crayonbattle.com
https://osagao.com
https://chrome.google.com/webstore/detail/findflix-netflix-secret-c/njgopmododdceghkcgbmgfffamnjbjno
I'd be interested in selling this on. Also has a web counterpart. 10k users.
Is there any revenue model? I very rarely see anyone make money off of Chrome extensions.
Some make money from Chrome extensions, you just have to come up with the right way to charge for what you're offering.
https://adcaster.co
I'd love to know more
Cool! Can you share some metrics?
https://www.barlé.com
Are you buying or just curious?
I.
Just curious, has Suet been sold?
No. PM me if interested.