Originally written in 1994, this nonprofit financial software became available for purchase in 2007, with the second program launched in 2012. Current annual recurring revenue is just under $306,000 USD ($392,866 CAD) with minimal paid advertising and no sales team. Year-over-year revenue is up 17% with a 15% increase in SDE.
As a computer programmer and active member of his religious community, the owner saw firsthand the need for better donor-tracking software and chose to fill that void. Targeting small-to-mid-sized churches and nonprofits, the goal has always been to keep the software simple and affordable. Competitors offer more features at a higher price point, while the owner has intentionally priced low and stuck to the core competency, only adding features when needed by a significant percentage of users.
With only 2% of revenue spent on advertising, there is significant opportunity for growth by utilizing and optimizing PPC. Developing a social media presence would also allow a connection to the customer base to acquire new users. Considering the age of the product, an upgrade to the user interface may make the software more attractive to potential subscribers.
The current owner spends 10–40 hours per week operating the business, with the busiest period being Q1. Without any inventory to transfer and an offer of full training and support, a buyer can feel confident in a smooth transition.
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Pat is a seasoned entrepreneur with a focus on e-commerce. In 2014 he struck a deal with Robert Herjavec on the Emmy Award winning show “Shark Tank”. Pat grew a single slipper kiosk business into a multi-million dollar e-commerce focused business. During that time Pat has done licensing deals with DreamWorks, NCAA, NFL and Disney. In 2015 he struck up a relationship with Mark the founder of Quiet Light and continued eventually leading him to becoming an advisor.
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