As most have already noted here the platform risk is real in my experience. One change in their terms (which can be vague at times) can put your business at risk overnight. I'd stay away personally, but have heard of people with deep experience that can operate them successfully.

Before I started on deal advisory, I worked on the other side of this at Amazon. Not to be overly reductive, but I very rarely found the FBA businesses to be "good businesses." This isn't to say that there can't be some diamonds in the rough, but in my opinion, FBA is a better marketing channel than business-building strategy. It's a huge market, so there have been winners through FBA alone, but this is definitely the exception rather than the rule, especially at SBA size. Just to reframe a bit - you wouldn't acquire a "tik tok shop" business, but it could be reasonable to acquire an ecomm brand that does 90% of it's business on Tik Tok shop. It's a brand stepping stone, and should generally be treated as such.