We’re looking for a new home for our profitable cloud syncing notebook company.
A little over two years ago we launched Mod Notebooks.
The idea for Mod came when Jon and I noticed we had a similar pain point. We loved taking notes with good ol’ pen and paper but missed the benefits of digital. Mainly, we missed the easy access and infinite storage. Our solution then was to take a picture of each page, one by one. Those images would eventually get uploaded to our Evernote accounts. It was tedious and annoying.
Simply put, we wanted the best of both worlds — the unparalleled tactile feedback of pen & paper with the benefits of digital access and storage.
Mod Notebooks was our solution to this. Mod is a high quality paper notebook that comes with free digitization. You write, sketch, and scheme in a Mod Notebook like any other.
The cool part though is when you’re done, there’s a pre-paid shipping envelop hidden in the back cover. You simply register your notebook with us and then drop it in the mail. In about 5 days your notes are digitized for free and uploaded to the Mod app. We also sync with Dropbox, Evernote, and OneNote. Mod gives you the best of both worlds.
Since day one, Mod has been well received. It’s been a great source of profit for us for the last two years.
When Mod launched, we went from operating one company to two, making Need/Want a portfolio of companies. Fast forward two years later and we’re operating about six companies under the Need/Want umbrella. In those last two years a lot has happened. Peel and Smart Bedding (two of our companies) are growing like crazy. We also have a big new project in the pipeline.
Due to all of this growth, Mod is the child that got neglected for the last 18+ months. Ok… saying it’s been “neglected” is generous. We haven’t touched the kid.
All the while, it’s still generating great profits each and every month.
It’s a great product, but we’ve been bad parents. It could be doing a lot better with a little love. We think it’s time for someone to take it over and really run with it. Give our baby the love it deserves. We think there’s lots of low hanging fruit for growth. We just haven’t had the time to focus on it.
Profits have been growing nicely the last several consecutive quarters, with the exception of holiday season 2015 (the biggest time of year for Mod). We were bad parents once again and missed a re-stocking order deadline, leaving us without any stock to sell for all of Christmas 2015 (oops). Below I’ve shown actual and simulated for that period based on historic data for Mod.
We’re looking for a cash purchase in the 6 figure range. We’re not looking to owner finance, so please don’t approach with a creative deal. With that said, we’re looking for the right buyer. We’ll hang onto it if we don’t find the right fit.
If you’re interested in buying Mod, email me at email@example.com for more info.