Facts and Figures
|Month||June 2019||July 2019||August 2019|
Note: Traffic data was provided on 16 September 2019. Enquire for more recent data.
Simple Invoices allows users to create invoices, estimates and expenses.
How does your business make money?
The website runs on a subscription model, charging $90 AUD per year (or $7.50 month) for the paid plan. There is a free trial and users can upgrade after the trial.
Pin Payments was previously used as the payment processor but it is now PayPal and Stripe.
I have experimented with many different price points and length of free trial etc, which is why you will see some charges for $99 and $119 in the screenshot. I have also recently implemented monthly payments, which 2 users are currently on for $7.50 per month each.
It is very easy to adjust prices and free trial length as you see fit.
There are no physical products to sell so virtually all of this is profit.
The only costs are hosting/domain name, which are obviously very little. I also now use Campaign Monitor for welcome emails which is $9/ month
Why should someone buy this business?
Simple Invoices is an untapped resource that has had very little marketing effort thrown at it.
The finance SaaS sector is huge and with a little more effort on the marketing side, the potential for this product is massive.
I am a developer who is good at building products but the ongoing marketing just always falls short for me as I don't really know what I am doing on that side of things.
This business would suit somebody who is willing to put in some more time marketing the product and also optimising conversion rates and such things.
Traffic to the site is on an upward trend, just need someone who knows how to convert them!
Some stats on users and registrations:
288 registered users
19 paid users
36 new users in last 30 days
I have a Goal setup in Google Analytics to track user registrations which is currently:
3.37% goal conversion rate (since setting up in Feb 2019)
3.08% goal conversion rate (last 30 days)
Why are you selling this business?I am selling Simple Invoices as I don't have the time or the skills to properly market the product. Which is frustrating as I know I have just scratched the surface with the potential of Simple Invoices. The business could also easily be modified to target a worldwide audience. It would just need to be put on a new domain name (so that it is not a .com.au domain name) and some adjustments made to the code to allow for different tax rates.
- High levels of Automation
- High Profit Margins
- Positive Customer Reviews
- The Business Is Currently Growing
- Turn-key Operations
Opportunities for a new owner
- Improve Current Marketing Efforts
- Develop New Features
Key day-to-day operations
- Website Maintenance
- Content marketing
- Brand assets
- Custom technology
- Customer databases
- Marketing materials and collateral
- Relevant email accounts
- Social media accounts
- Website files, source code and content
- e-Commerce platform accounts
- Google Adwords
Post sale support
This is support provided by the seller when transitioning the business to a buyer.
About the Seller
Here is a link to an interview I did a few years ago about how I create products and sell on Flippa - https://theplugineconomy.com/brant-calder-interview/