They Got Acquired - $3M revenue with just 6 contractors

June 25, 2024
​Read on web​

Our newest report went live yesterday — and it's free!

It includes stories and data about 12 companies (across a mix of industries) and how they sold.

Grab it here:

How delegating helped her hit $3M revenue

The founder built and sold a fitness studio. Then she pivoted online and put that experience to use in a different way, helping other fitness coaches build their businesses.

Yet Nicole Spencer hit against a common challenge when growing her business coaching program, Authentic Conversion: scaling beyond herself.

Her biggest barrier to growth, she said, was feeling like she had to do everything herself to deliver top-notch service to her clients. That made it difficult for her to delegate to a team.

“Part of it is just trusting other people,” she said. “Believing that it would be OK even if people bought because of me that someone else was also helping support.”

But her ability to let go helped her company grow. She trained some of her former coaching students to join her as contractors, and because her method was to coach entrepreneurs in groups, it worked that Spencer could be on some of the live calls and not others.

That systemized approach allowed Authentic Conversion to expand, including businesses outside the realm of health and fitness.

By 2023, the company grew to $3 million, and because of the low overhead, more than 50% of that revenue was profit.

Here’s more on Spencer’s story, including how she found her buyer:

​She grew an online coaching business to $3M in revenue and 50% profit​

Bonus: The M&A brokerage that helped Spencer sell is our sponsor for this report. Learn about them next 👇

Sponsored by

Meet the Broker: Tom Howard

​Tom Howard runs The Cornerstone Team at Website Closers.

His team of three specializes in selling online businesses, including:

• E-commerce
• SaaS
• Business services
• Content

We interviewed Tom about his approach to working with sellers, so you can get a feel for whether he might be the right fit for you.

In this 16-minute interview, he shares:

• His biggest advice for founders after 9 years of brokering deals
• How to generate multiple offers when you sell
• Why a founder’s most important job during the sale process is to continue to run the business well

Or email Tom directly: thoward@websiteclosers.com​

Behind the business (of TGA)

We added something new to the homepage for our M&A intelligence platform...

A counter that shows how many deals and buyers are in the platform:

Some quick no-background:

We've collected 1,000s of deals in our internal database.

These are all deals that have already happened and buyers who have acquired, not sellers looking to sell.

We're slowly fleshing them out and checking for accuracy, then adding them to the platform.

Since we don't anonymize data like most other platforms, we can slice and dice these deals to see all sorts of interesting trends, like who's buying.

It's always nerve-wracking to share metrics like this. Some people will say, that's a ton of deals! Others will say, that's not very many!

But I find the benefits of transparency outweigh the drawbacks. I want our first users to know exactly what to expect when they join.

See you next time,

Lexi Grant
Founder & CEO
​They Got Acquired​