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Online Penny Auction Site For Sale
Location Kentucky,United States
Asking Price Range < $250K
Gross Revenues $66000
Net Profit / Cash Flow $20000
Cash Flow Type Sellers Discretionary Cash
Seller Finance No
Year Established 2012
Number of Employees 1 - 3
Relocatable Yes
Number of Employees 1 - 3
Real Estate Owned
Training We will help the buyer learn the system, how to add things, and even show online communities to help market.
Reason for Sale Time to put into the business.
Description We own an online penny auction website, which specializes in auctioning off a wide variety of retail items at huge discounts off MSRP prices. Customers (Bidders) sign up on the website and buy Bids at rate between $0.60 - $0.85 per bid. When they bid the price of the item goes up by $0.01, making these types of website very popular especially in this type of economy. We are a legal LLC in the State of Kentucky, we have only been in operate a little over a month and already have over 200 members, out of which we have about 40 - 50 active members who are constantly bidding and buying bid packages.
Lets give an example of a $25.00 gift card, that lets say sells for $1.25 on the website. Since the auction price goes up by $0.01 (One Penny) each time someone bids, that means at a total of $1.25 that was 125 bids. Since bids cost at the lowest $0.60, that would be that the company gained (125 x .60) a total revenue of $75 off this gift card minus the $25 cost of the gift card, that is a total of $50 profit for the company on this gift card.
We have already established a reputation in the industry, we can show some results with bidders showing all positive responses, and we also can show how we are in the Top 75 of the best Penny Auction sites in the entire world of those that are registered and signed up to be tracked by AllPennyAuctions.com
The hard work of this has really been done already, getting the initial push of customers and starting to get people talking about the site and writing reviews and things of that nature on the phone.
This is an online business so there is no type of relocation needed, as the server is currently online and can be accessed anywhere so there is no re-location expenses or anything needed.
We would be happy to speak with any interested buyers via phone, you can contact us via phone at 270.320.3821.
Click Here To Contact Seller
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