Acquisitions Anonymous - #1 for business buying, selling and operating - 60% Profit Margin Amazon Online Community for Sale - Acquisitions Anonymous episode 156

Episode Date: January 6, 2023

Want to receive this listing in your inbox? Signup for our weekly newsletter:https://www.getrevue.co/profile/acquanon-----Michael Girdley (@girdley), Bill D’Alessandro (@BillDA) and Mill Snell (@thegeneralmills) discuss an Amazon Sellers Mastermind, a membership base that drives recurring revenue.We talk about the business model and where the value is. Bill shares his experience with his eCommerce Fuel, and Mill stresses the significance of joining a community from the beginning. Finally, we will learn the justifications behind our final verdict.Company: Amazon Sellers MastermindLocation: US-BasedStated Financials: CF:  $ 426,646   |   Gross Income:   $ 821,812Asking Price: $ 1,280,000-----Thanks to our sponsors!CloudBookkeeping offers adaptable solutions to businesses that want to focus on growth with a “client service first” approach. They offer a full suite of accounting services, including sophisticated reporting, QuickBooks software solutions, and full-service payroll options.-----Show Notes: (00:00) - Introduction(00:38) - Our Sponsor is Cloudbookkeeping(02:08) - Deal & financials: Amazon Sellers Mastermind – Membership Base Drives Recurring Revenue(02:50) - What does Mastermind mean?(03:58) - What do we think about the idea of Mastermind?(08:23) - Why not refer to your employees or customers as a family?(13:59) - What is the trouble with the customers for this deal?(15:44) - Do these people have a reason for selling?(20:59) - What would make us pursue this deal?(23:34) - What are the positive aspects of this deal?(26:40) - How do association management groups help small companies?-----Additional episodes you might enjoy:#155 - A $3mm profit-a-year water delivery business!#154 - A Truck Driver School for sale in Texas#153 - Will Bill buy this company for Girdley’s Christmas present?#152 - Should we buy this Ambulance company?#150 - Let’s buy a medical staffing business#148 - Growth Marketing explained: Shopify Superfood Greens Brand with 40% subscription rate w/ Baller Jesse PujjiSubscribe to weekly our Newsletter and get curated deals in your inboxAdvertise with us by clicking here Do you love Acquanon and want to see our smiling faces? Subscribe to our Youtube channel. Do you enjoy our content? Rate our show! Follow us on Twitter @acquanon Learnings about small business acquisitions and operations. For inquiries or suggestions, email us at [e-mail]

Hey, everyone. Welcome back to another episode of Acquisitions Anonymous. I am one of your hosts, Bill Dallessandro. And this week, along with Mills and Michael, we review an Amazon seller community business. It leads to a really interesting conversation about the economics of these community businesses, where we think that that industry is going. We think it's going to grow a lot. I learned about a business model I didn't even know about before this podcast from Mills and Michael. So this is a business with 60 percent. margins, not too shabby, but around for six years, I think you guys will enjoy learning about it. So without further ado, enjoyed this episode of Acquisitions Anonymous. Hey, Michael here, want to talk to you about today's sponsor for the episode, which is cloudbookkeeping.com. So cloud bookkeeping is actually run by my neighbor, Charlie. So I've met him in person and can attest that he's a real human being and a good person. And what cloud bookkeeping does is offer a full suite of bookkeeping services all in the cloud.

for you around QuickBooks and other technologies that you're using as a small business owner. So if you're interested in getting the bookkeeping part of running a business off of your plate and focusing on running your business, Charlie and his team are one to call. They can put together a bunch of other stuff in terms of helping you manage and grow your business besides just bookkeeping, sophisticated reporting, definitely helping you get your quickbooks online set up in the right way, and a number of things around payroll as well. So, definitely know them and recommend them. If you want to find out more about cloud bookkeeping, you can go to their website at cloudbookkeeping.com, reach out to Charlie. I know many of you

have and see if he can help you, make running your business easier and more fun by letting them help with a lot of the bookkeeping solutions. And when you call, mention this podcast, it would help us and help Charlie know that we're supporting him as well. So thanks a bunch and cloudbookkeeping.com as the sponsor for today's episode. Welcome back to another episode of Acquisitions Anonymous. This week's deal is near and dear to my heart because it is about selling on Amazon. Mills and Michael, do you guys, have you guys ever sold anything on Amazon? Never, not enough.

Hell no, I have a real job. Well, if you would like to, today's deal is very relevant to you. No way, I've never sold an Amazon. I got class. Who's reading this one? Who wants to take it? I got it. I got it.

Okay. This is an SBA pre-approved Amazon seller's mastermind. Dash membership base drives recurring revenue, six years in business, 60% net margins. So maybe we should level set. Are you guys familiar with this term of mastermind? Should we talk about what it is? We should talk about what that means. Okay.

A mastermind, it comes from one of the think and grow rich type book, early type folks. And basically it was the idea of you as a business owner or an operator need to surround yourself with people on a similar journey who are smart and it creates, you know, it creates basically this mastermind of your mind plus the other people. So basically it's just a fancy way of saying you should be in a peer group of people on the same journey as you who are in a giving circle, right, who are helping each other. That's what a mastermind is. And then there are people who run these masterminds and they charge you to be a member of

them. And they curate them. They bring in speakers and all that kind of stuff. So a mastermind is just another way of calling it a peer group. Is that how you guys understand it? In some ways like YPO or EO are some of the original masterminds, right? Absolutely. Absolutely.

I mean, my problem with the word mastermind, like I totally hate it because there were these guys running like these really scammy masterminds at a coer. space I was at. And I was like, I've never get involved in anything called a mastermind. So like, I love the concept that it can be done above board, you know, but I hate, I hate the name because it's totally ruined for me based on these kind of scammy people that were doing this stuff. And it was, it was like, you know, you see like the tent revival people that are like speaking in tongues and stuff. It was that for like business. That's what these guys were doing. And I'm just like, ah, this is so scamy, terrible type stuff. I would call the business

model guru adjacent, right? You know, a lot of gurus or people with content businesses spin up a mastermind because they're pretty lucrative, right? I mean, there's no cogs, just pay a member fee. And the great thing is they get really sticky because people make friends with the other people in the mastermind. And then if you cancel, you lose all your friends. Right. So they're great businesses. 100%.

Well, and it's interesting, all the, you know, I'm building, I've built this course. Miracle and I are working on. It's getting released next month. but like, I've watched like other people who started and built courses and I've learned what they all learned, which is, holy crap, this is a lot of work. And the second you publish it, it's potentially like starting to go stale. And I know, Bill, you did this as a business for a while. And you're like, never again am I doing a course. And I can understand why so many of these course guys have graduated to running these masterminds because you don't have to do a bunch of content and be updating it all the time, which to me, like, man, it has a lot. of appeal. A mastermind is, of course, where the members make all the content, right? So this is like such a girly thing in life. Like I spent six months working on something and then four months into it, I realized it was a terrible idea, but I still have to keep, I still have to finish it. It's like my 150,000 Twitter follower goal for the year. Like three weeks after

I publicly announced that, I found out it was a totally stupid goal, but I've been working on it all year. So anyway, I'm not going to get there. I'm at 138. It's not going to happen. Okay, so anyway, I'll go back to reading. Mills, we haven't given you a chance to say anything. Good morning, by the way. Do you have anything you want? I love it. No, I love it.

You made a comment of like, you know, you become, you get these friends, right? And then the minute you stop paying, you lose all your friends. You're locked out of the group. This actually tells us it's, they have a 30-day trial for a dollar. So I can't wait to get to the listing because what is the price of friendship? It's $1,773. customer lifetime value, and it's only a one hour in file. Okay.

Oh, boy. Okay. All right. This is an Amazon mastermind group here from website closers as a focus on training, coaching, and assisting those that are looking to either get into the Amazon ecosystem or for those currently operating on Amazon, looking to find ways to network with others to improve their performance on the platform. A mastermind group is made of a community of like-minded individuals where everybody

in a particular field learns from each other, and the owner of the group helps facilitate discussion, thought leadership, and network development. The Amazon community, while vast and growing, still remains a tight-knit group of brand owners, all of which enjoy taking time out of their busy work schedules to attend these networking events to approve themselves. They have created a thriving, paid membership community, offering wide-ranging services that include coaching, business expansion assistance, and courses included live and recorded content. With more than 6.3 million sellers registered on Amazon today, the company has a massive audience at one of their strength has been hosting private Facebook groups where members can join and learn from one another,

with monthly and annual plans available, they have offerings that continue to attract new customers. The company now enjoys 60% net margins and a rising $17773 lifetime customer value, putting them in a solid position to scale quickly, particularly by expanding the affiliate network that has helped promote so much of their initial growth. The customers are all Amazon sellers, some just having started out, and others that have been in the business for months or even years, are looking to boost their sales or scale their shop. The company has done particularly well attracting newcomers through the Trial Link, which offers a 30-day trial for $1, and more than half of these newcomers

move on to full-time membership. Since Amazon, yada, yada, yada, Amazon's very competitive. Let me see what else. They have their six years old, grown along with a number of third-party sellers selling on Amazon, recurring revenue. Customers also have a VA service,

which I guess they sell to the members. And once a year, they get together for an in-person seminar called a family reunion with a range of different speakers plus breakouts. and networking opportunities. Can we just pause here? I didn't think it was a cold until they called it a family reunion. If you take nothing, absolutely nothing away from 155 episodes of acquisitions anonymous,

do not use the word family to describe anything except for a family. Like don't tell your employees that they're family. You did not adopt them. That is not the way it works. Do not, do not, if you see something as a consumer, the other part of this is if somebody starts telling you you are family or you are we are brothers or whatever like run the other way that is code for i am about to reach in your pocket and take all the money i could possibly get so do not use the f word meaning family in any any any any business transaction just don't do it like the st

and tenntonio spurs where i have season tickets keep calling me and telling me i'm part of the spurs family you know what the spurs family would not do charge me $15,000 a year for season tickets they and I wouldn't have to pay for a beer there. So stop calling at that. Just don't do it. It does not work. Anyway, rant over. Quickly rewriting my Christmas card to you.

Merry Christmas, brother, scratch. Cool. So it looks like they get members through affiliate marketing. The current ownership works four hours per month, with most of that being devoted to a weekly meeting with the virtual assistant team, which includes five contractors who run daily operations to keep the Facebook groups running smoothly. They are asking $1.28 million. It cash flows $426,000, has gross income of $821,000, and it was established in 2016. So, Bill, do you have your checkbook out? Are you ready to buy this business? So here's the thing about businesses like this,

is they are good businesses and they, as a business, right? I mean, this thing's got 60% net margins. And it can be one of those things that's relatively lindy to use a cheesy Twitter term, right? Like the longer it sticks around, the longer it tends to stick around, right? I would never ever be interested in a community that was one or two years old, right? You know, people haven't really formed long-term bonds. You know, for example, I'm in a community called e-commerce fuel, which is, I guess, tangential of this one. I don't know which one this one is.

But I've been an e-commerce fuel for 10 years, right? and the guy that runs it, Andrew Gnaryon, you know, curates it like a really tight-knit community. And I'm going to pay dues for that thing until I die probably. How much of the dues? How much of the dues? I think it's $250 a month. Okay. So what is that?

Three grand a year? Yeah, like three grand a year, which I tell him all the time is grossly underpriced. Right. It's very interesting because, like, one of the things when, you know, I'm in a CEO peer group here, which I guess is equivalent of a mastermind, but it's in real life. and I've had other people talk to me about running CEO peer groups, and they come to me and they're like, okay, well, we're going to make it $150 a month. And I'm like, nope, not interested. I don't even care what it is, like way too cheap. Because there's an interesting thing. Like when I chose a peer group here in Ciotonio,

part of the delineating factor was I decided to join the one that was the most expensive. It's like, why did I join the one that's the most expensive? It's because I wanted to be in a group with total ballers. And I was like, okay, the most expensive one that's going to have the highest value proposition, like, is going to attract those people. And that's not always true. But it's interesting about these kind of groups. Like, there's a selection process that happens based around price discrimination. Like you charge more potentially get different types of people in the door. And so like I've turned away groups. So I'm just like, nah, not too cheap. Not doing it. Well, the funny thing about that, right, is that's generally true until at some point, like it tips and it's just free and it's by invite only. Right. You know, where it becomes like not about the money anymore. Like at the very high. on this one it says their membership makes up 60% of their revenue and the average contract size is $1997 a month or 19 I guess they give you a break you know $1, 170 per year. The lifetime value of the customer though is less than the one year deal. So that tells us a lot about the churn of right. And that's the average. That's the average lifetime value. So that when I'm reading between the lines here, you could get all this data from them you would want to.

if you look at it seriously. But my guess is that most people pay $200 a month for like somewhere between three and six months. And they're like, I'm not getting enough value out of this. It doesn't, it's not worthwhile. They're not even staying in it for a year on average. So maybe, maybe, Mills,

there's another thing embedded in this business that I think people who buy businesses don't realize is that I think this business has shitty customers. So like a long time ago, I had a software business. We could talk about five episodes for shitty, shitty customer businesses. This is so great. I'm glad you said this. And you sell stuff to restaurants.

Like, here's the thing. Your thing, your software program can be great, but maybe their food is terrible and they go out of business all the time. Like restaurants go out of business all the time. And I think the same thing is true here for Amazon sellers. Like, yeah, the average guy is in this in this club for not, you know, six to nine months. He might go and be going BK on month 10. You know, like that might be.

It might not be because it didn't get value out of the group. Who not? Well, maybe it is. If you got more value out of the group, he wouldn't have been toast. But I think that's baked in here, too. You also have to wonder, right, if they allude to the affiliate marketing part of this that help grow their business so much. And that starts to feel kind of slimy to me because it's like, hey, you join the group and, you know, what? We'll give you, you know, $100 off if you get your buddy to sign up or, you know, whatever the tiered kind of thing is that probably starts to feel a little bit like a pyramid because it's just a race to see who can sign all these people up.

I would be very worried about, you know, how sticky are those customers given this type of churn and their type of customer acquisition model that they allude to. Especially because it's like the idea of like Amazon home businesses now have become the like the get rich quick scheme from your home business. So I don't know if you guys are on TikTok or not, but the like the new ads that are like totally like plugging the thing are these scammy dudes that basically will sell you a business in a box that's an Amazon business. So they'll figure out what product you should sell. They'll like get you in contact with the factory or whatever. And then it's like, oh, here's this already operating Amazon

arbitrage thing that we've done through some black hat stuff. And like, so like back to the bad customer thing, like you're a lot of these people I think in this are probably people that have fallen victim to that scam and are like coming in and then. expecting you to save them. Like, ugh, yucky. Right. I mean, it comes back again, Michael, to what you said about the price discrimination. Because, you know, if my community is $999 a month, right? Like, those businesses are probably working. You know, they're not on the edge of bankruptcy. Like, they're going to be around for a while. If your community is $99 a month, you know, who does that attract? Like, that's the thing about

e-commerce fuel is you got to have a million bucks in revenue to get in. You know, they vet people. And I think people stick around longer. Yeah, Vistage is the same way. Like, you have to have a minimum floor size of revenue. EO, I think, has that too. Like, you had to have $5 million in revenue and demonstrate it to get in to do that stuff. So switching back to this deal, one thing I just realized, it's not clear to me why these people are selling. And it doesn't actually say it, which is like, I really, that would be the first question I would ask when I talk to this broker is like, so why are they selling? This seems like a really good deal. The current ownership works four hours per month to make $426,000. Like, I would

really want to understand what their story is and why I'm the new lucky buyer to get to take over this set of not very good customers. Well, the thing I'd also want to understand, too, is not always, but at times these things can be cults of personality, right? Where the founder, like this community grew up around the guy that is the guy, right? And I assume that guy is the guy selling it. So as soon as he's gone, the guru is pulled out of the middle, is the community going to hang together or not.

And that could be a hard thing, I think, to suss out from the outside. You know, you'd have to kind of get into the community, see how much he interacts, see how much people mention him and talk about him. You know, who knows, maybe the thing is named after him? I don't know. You know, is he tweeting about it all the time? You know, I'd really want to understand how central the guru was. You just described the community function of my course.

I think the Slack workspace is called Girdley that I got invited to. It's very true. Well, I mean, so, I mean, the topic I've done, like, I think is so big that as I'm going through, I'm like, oh, there's a nuanced thing that somebody's going to have a question about. Like, there's just no way that this can exist, like, without that. So hence the thing. And it's just like, okay, if you have a question at any point and you paid the money, like, I'll answer it on Slack, even if it's dumb.

So that's part of the goal. It's also like an insurance policy for anything like I screwed up in six months of building the dang thing. So, but yeah, I hear you. Bill's, you had something to say before I started to talk about my course again. Sorry. No, I just love this. It's like shots fired. And you're like, okay, that's me. Well, you know, when I first was looking at like, when I first was on Twitter, I was like, courses suck. This is terrible. And then the internet totally broke me because getting 12 to 15

requests for free consulting and solving people's business problems and telling them how to hire a CEO and stuff like that. Like that going on for 500 days in a row, I was like, yeah, okay, I need to get paid. for this. This is out of control. Like, I deserve this. So I totally changed my approach to the course and stuff. And that's why I've entered full guru status now. So I apologize to everyone. Started with a core. You didn't even launch the course yet and there's a community attached to the course. You are speed running the whole guru version. But it scales, right? It makes sense why you do it that way. And the same reason why this guy does it this way is like, you know, even if you're awesome, right? And you provide awesome advice. And it is really valuable. And even if you charge

a thousand dollars an hour to do it, at a certain point, you're like, you know, I would rather, you know, capture five times or 10 times this amount, create it once. That's the whole logic, right? Create it once, create this community once, and then just feed it on an ongoing basis and then let the kind of, let the content, you know, go to work for you. It's a very natural progression. I just think that, you know, the nature of advisory work and consulting-based work, I think it has to be a little bit more nuanced than, which is why obviously people try and do like Facebook communities or, you know, like this mentions Facebook lives or Slack groups because you have to do something that's outside of the mold, the can.

So have I ever talked to you guys about my buddy Ties business for business development? like he has a community that looks, it looks just like this, just like this. And I'm totally blanking on the exact name of it. But it's a, he started it like three or four years ago as a professional community for business development professionals that do BD, right?

So partnerships and channel and all that kind of stuff inside of tech companies. And basically there's no like playbook or books on how to do that stuff. And also what works changes all the time. So it's like the perfect thing for a community. So they charge, I think, like $400 a month or something like that for these folks and their company pays for it. It's like an educational thing, but it runs just like this, right? He spends a few hours and has a day job doing BD. And then he then just has contractors and stuff like that that are like basically just rinse, wash, repeat overseas kind of VA type folks, finding and posting content, making sure, you know, passwords and are reset and all that kind of stuff.

but the economics look just like this. And I think there's like a ton of opportunities like this. And so I don't know if you guys saw my thread on chief of staffs in that kind of role and it's coming to be more of a thing. And like two different groups were like, oh yeah, we set up a community just like that. And it looks just like this. Same kind of like a community for people doing the chief of staff role in which there's no real playbook and you need to go to a place to learn how to do it. Like I think these could be really good businesses in terms of, you know, people doing this instead of like an agency type thing. if they're interested.

All right. So I have a question for you guys about this. You sign the NDA. You get the SIM. You have a conversation with a seller. And you absolutely love this business. What have you found out about it that makes you go, okay, I would do this deal. I like it.

Good question. I would have found out that there are, there's a core of really long term members that, you know, you don't see it here in the average customer value. but like there's a core people that have been members for five years and post extremely good content. And also that those people are not posting that content anywhere else. That would make me happy. That's one thing that comes to top my mind. I think you would see that both in the quantitative stuff, Bill, you know, in terms of what's your daily active users, you know, what does your churn look like?

Like, what is the profile of these businesses and how is it transitioning over time? all that would show up and be very quantitative and look a lot like SaaS metrics. And then I think qualitatively, like I would want to go in there and really suss out, like, is this just like a spammy type thing or like are people actually really putting in like good quality? Like do I see there being utility here based on kind of what, you know, what's getting posted? Or is it just like, you know, black hat, you know, type stuff or just garbage, right? What's the quality of type stuff that's going on in terms of discourse? I think it would be very hard to tell that unless you were an Amazon seller yourself.

Yeah. Right? I mean, I could show you five essays about selling on Amazon. It might be very hard for you to tell which one was really unique and high value, but I could probably tell right away because I've been immersed in space. I could just call me stupid. I could spit four of them out with chat GPT and I could write one of them and you wouldn't be able to tell. And then we'd be wondering who's stupid if it's me or.

you. No, no, I hear you. Well, I mean, so you could solve for that potentially by bringing in somebody that knows this space pretty well, right? Like a Michael Petron or you or somebody like that that knows it very much. I know, I know Michael Petron is in one of these that charges a lot more than this. And for those that don't know, Michael Petron's like a FBI fulfillment by Amazon, like Twitter guy. So he talks about all the time. So that's the other thing, Michael, that's important to know. There are a lot of these. There's a ton of these Amazon seller communities, and they're all kind of interchangeable. I like that this one's been around for six years.

I also like that this one does in-person events because that's something I've learned from e-commerce fuel. The in-person events is e-commerce fuel, Andrew says to me, don't make money. They're purely for community building and engagement. You know, and they do, I think, e-commerce field does almost one a month in a different city all over the country, right, to get people really committed. Yeah. So they invest a ton of money in kind of building that strength of community. And the other thing that I do kind of like about this is that they have diversified their revenue outside of just the membership fees.

Now, this kind of cuts both ways. Like, on one hand, if the other 40% of the revenue here is affiliate fees to software and stuff, like that's scammy and it hurts the credibility of your community. But if I assume they're charging money for events, for the family reunion, it says they've also got like a service. Yeah, it seems like they've tacked a couple things on they're selling to these people also. I want to understand the take rate of that stuff. I want to understand the quality of that stuff. And wonder if there's any kind of growth in the ancillary revenue streams also. If you go up to the top of this, whoever is controlling the screen share, over the stock image, it's pending. Somebody maybe has this under contract or under LOI. So, you know, it's always amazing what people will gravitate towards, but surprising.

So I think two things about this in terms of a category. Like I've been watching this category a lot and you're seeing a lot more of these types of paid communities emerge, especially as people get more digitally native and during COVID and stuff like that. So like this stuff is definitely happening. But as you said, Bill, like these are not super scalable business. businesses, right? At best, you just replicate it into different type of areas. But there's also this second idea, which is like, there's a lot of best practices and stuff going on that's replicable, right? Like, they sell VA services here, but you could imagine lots of niche audiences needing VAs, right? Like, that also leads me to believe, wow, is there a potential here to do basically like, like you guys know what Red Ventures is? Are you familiar with that? Oh, yeah. So, like, do a Red Venture style thesis with this and go acquire and run these type of communities better by building a holding company or building a building a roll up of these type communities. So we talked about the one for chief

of staff, for business development, for Amazon sellers. Like there's got to be, there's got to be one at some point for, you know, and I know there's one for staffing companies because my buddy's in one. So like those are the kind of things where you could potentially start to build a bigger business out of these things. So anyway, free startup idea for anybody. You put that with all the other startup ideas I've given you. But you can look to go start acquiring these. It's a little bit like the like association management industry, you know, where it's like, okay, the, you know, whatever the CPA Association of America is, they have a big enough membership base that they can have full-time staff. But, you know, there's smaller communities,

smaller organizations that, you know, it might be like, you know, the septic tank association of America may not have all the personnel and the revenue to be able to have, you know, more than just kind of a director. They may not have a marketing person and an events person. And so there's these association management groups that, you know, easily, right, can go, oh, we have a playbook and we'll run it for, you know, HVAC guys, plumbers, property managers, you know, CPAs, like, you name it. And they can just rinse and repeat. And they're like, yeah, we host events. We collect dues, we help publish content, we run your website, you know, we provide forums for you guys to comment, whatever the things are. This reminds me, I think, of some of those characteristics

where you could just copy and paste. Yeah, and I wonder, I mean, I wonder if there's an opportunity for somebody to start a business whose job is just to go to people and be like, we're going to run your, and maybe that's what you just said. Like I'm just reiterating, but we're going to run your community for you. Like, Bill, you have an audience and you're so good and well known about this particular thing. We're going to help you, you're going to run your own e-commerce fuel for pet, you know, type stuff, right? So it's a really interesting idea. I know guys that have made tons of money using kind of that model, right? Like, there's lots of people who run those HOAs, right? The HOA services businesses, if you guys ever looking to those? Total racket, right?

You've got the standard deal like selling the government where nobody actually really cares how expensive you are. They just want to be the slowest, the least amount of pain in the ass. I know lots of folks that have done really well doing those things. Anyway, yeah, I like that idea a lot. I mean, this is an emerging category. Like, I think this is the future. Like, these type of niche communities are going to get broken out and people are going to be comfortable being digitally native as part of them. Like, really, really, I think, cool.

This particular one seems to target an end of the market. Maybe we don't like so much. I'm with you guys. These sound like terrible customers. Yeah. If I had a guess who's buying this, it's pending, as Mill said. I'm sure an Amazon seller is buying this. Somebody that maybe is a member of a community, somebody that gets it,

probably someone that's in it and has derived a lot of value and is like, oh my God, this thing's for sale for 3X and I've been slinging Adams all over the world. I really would like some MR. Right? Like, that's got to be who's buying it. Super fun. Okay.

Well, cool. You guys want to shut it down on this one? I think we beat this one to deck. Yep. Yeah, but I would love to see some other cool, you know, community or membership type deals on the pod. I mean, this is just one that I happen to know, a corner of the internet, but I know there are a lot. Man, I just haven't been in 6% net margin businesses, 20% net margin businesses and 60% net margin businesses. The 60, the 60 is just so much sweeter, just so much nicer.

Easy mode. Easy mode. All right. Easy stuff to win. All right. We'll wrap it up. That does it for this week's episode of Acquisitions Anonymous. We will see you guys next time.

If you like us, review us five stars, baby. We would appreciate it. See you all later.