(AA) $12M Self-Storage SaaS Company... or is it??

**Update: looks like there's an accepted offer on the listing! Spoilers... it wasn't us.** Hi folks, Will here from the Acquisitions Anonymous team. Today's episode looked at a self-storage SaaS and marketing company for sale with a hefty price tag of $12 million, raising eyebrows about its true value and what’s really being offered. This business is positioned as a SaaS provider and digital marketing solutions company specifically for the self-storage industry. It's claiming an annual revenue of $4.3 million and a cash flow of about $970,000. But here's the kicker: they're asking for a whopping 12 times cash flow, which feels a bit out of whack, especially since the breakdown between actual software revenue and marketing services isn't entirely clear. Located somewhere in the U.S., this company boasts a client base of around 750 across 1,700 locations. It’s got a decent growth trajectory with expectations of $5.1 million in revenue next year, driven mainly by recurring revenue streams. However, there are some serious red flags, such as the ambiguity around their SaaS offerings versus their marketing services. Are we looking at a legitimate SaaS business or just a marketing agency dressed up in software clothing? Takeaways - Be wary of high cash flow multiples, especially if the revenue source is unclear. - The distinction between SaaS and marketing services can be murky; always dig deeper. - Recurring revenue is great, but what exactly supports that revenue? Look for clarity in service offerings. - A company with a lot of employees might not mean it’s a high-growth SaaS; it can indicate higher operational costs. - If the listing feels off, it might be a good idea to walk away or investigate further. You can listen to the whole episode here: https://www.youtube.com/watch?v=1Z0ZiYelAbM And check out the business listing direct: https://synergybb.com/listings/self-storage-saas-and-marketing-with-3-7m-mrr/