by Justin Maresin Superorganizers
Markus Spiske/Unsplash
Editor’s note: We know that a lot of our readers are interested in acquiring and building businesses, so we’re re-publishing one of our most popular pieces on this topic from our archives. It’s part of a series on side businesses by author and founder Justin Mares.
Before starting Kettle & Fire—a direct-to-consumer bone broth company—I had a previous life in the SaaS world, running growth for a company that bought small SaaS apps and grew them. We sold the bundle of businesses to Rackspace for eight figures in early 2013.
When I left Rackspace after the acquisition and went out on my own, I wanted to replicate the model with which we’d seen so much success: I wanted to buy and grow my own SaaS business.
My partner Ryan and I were on the lookout for a business that fulfilled one of my side hustle criteria. A strong potential acquisition had to:
- Solve a problem someone is already aware of,
- In a niche where customers are already paying,
- Where the product does not require a lot of maintenance or hand-holding,
- And is profitable or has a no-brainer path to profitability.
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