Website Closers® presents a B2B SaaS Platform that has become a favorite of leading businesses eager to take advantage of the company’s On-Demand Virtual Tour Software. With a trademarked product and more than a decade of experience building up a client base, this company has attracted major clients that include Amazon, Choice Hotels, Ticketmaster, PBS, ABC’s Shark Tank, and many more.
The key to the company’s success has been providing clients with easy-to-use software that lets them provide customers with a virtual walk-through of any location or product. Client industries have included hotels, colleges, vacant warehouses, automotive dealerships, trade shows, RV dealers, and many others that want their customers to be able to tour their property from the convenience of their own homes.
In the past 13 years, this tech-enabled company has published thousands of virtual tours for clients, who keep coming back, again and again. Today, 80% of their clients are monthly subscribers to their platform, and very few end their subscriptions: the company’s churn rate is just 5%.
While the company’s contracts typically run between $3,000 and $8,000+, they can also soar as high as $77,000+, depending on the needs of the client. Enterprise Solutions for multi-location companies represents a huge opportunity and the company’s platform is currently being pursued by some enterprises that are household names.
The company markets its SaaS-based drag-and-drop 360 virtual tour solutions along with 360 virtual reality cameras and this brand is the only virtual tour location operating in this niche space that offers secure private servers. The augmented and virtual reality space has become highly profitable as more customers seek out ways to provide interactive online tours. This company provides cutting-edge technology that not only delivers an easy to learn, easy to use platform but also excellent word-of-mouth referrals and testimonials that have been a significant contributor to rising sales.
The company also ranks high in search engines for virtual tour technology and SaaS platforms, which has enabled it to grow without a costly customer acquisition budget. The company has not invested in any digital marketing, which provides a new owner with an impressive opportunity to scale this business quickly by launching a marketing and advertising strategy and sales effort.
This business represents a clear opportunity for a strategic buyer to acquire this company and then scale it quickly by hiring a dedicated sales and marketing team, investing in proven digital marketing tools such as social media and email marketing campaigns, and ramping up a content library that can fuel SEO, social marketing and advertising.
Business Broker Takeaway
Our analysis of this business shows that the value propositions present are incredibly strong for a strategic buyer looking to get grow this through the use of a professional sales & marketing team. We are excited about this business for 3 important reasons:
1. A Booming Vertical. The Software as a Service industry has enjoyed phenomenal growth, with the global SaaS market worth $3 trillion and expected to surge to $10 trillion by 2023. The virtual tour market is equally strong, projected to reach $6.5 billion by 2030 and grow by a stunning 31%. The offering represents a rare opportunity for a new owner to take over a thriving AR/VR business that has impressive strengths, including steady recurring revenues from their subscriptions, big brand customers, and clear opportunities for scaling up quickly. Clients love the product because their advanced technology enhances the experience of taking a virtual tour, and it gives businesses an easy to use platform enabling them to bring their customers into the space virtually. Clients love the platform over others in the space such as Matterport, which does not allow their customers to own the copyrights to the images they produce. The company is the only firm that can customize the AR/VR 360 SaaS platform and white label and install the Web app into a customer’s data center.
2. Experienced Team in Place. Much of this company’s success is owed to a trusted group of professional contractors who have been instrumental in assisting clients with their technology and are available to help with the photography and onboarding to ensure customers get the exact virtual experience they need. The company has one full-time employee who handles daily operations and works with full time contractors and developers who help maintain the code base and work on various client projects. Their commitment to ensuring a great experience that includes first-rate customer service is well-established and a key reason why this brand is experiencing hands-off organic growth. Also, already in place is an experienced and reliable tech team to keep things running as the new owner assumes the sales and marketing lead.
3. Easy to Operate Business. If the technology behind virtual reality sounds complex, the truth is a new owner does not need any unique skills to operate this business. This is an easy company to jump into, and any buyer with a background in sales and marketing is going to find there are enormous opportunities to scale this one quickly. The current owner is open to providing ongoing consultation during the transition, or to maintaining a minority equity position in the company to ensure its continued success and profitability.
The Company
Launched in 2011, this company quickly tapped into a rising demand for 360 captures and virtual tours, and the company is also unique in that it doesn’t focus on a single industry, such as real estate. Instead, this business has been successful at attracting clients across multiple fields. The company’s platform is neither expensive nor difficult to learn, and most clients can easily become self-sufficient. Client feedback consistently affirms the company’s software is easy to use, a great resource and offers an affordable out of the box solution for various applications. This on-demand vertical SaaS easily allows non-tech types to create their own AR/VR virtual tours of anything, including business locations, hotels, restaurants, commercial or residential real estate, consumer products and yachts for sale. Importantly, their clients own the copyrights to the 3D digital twins (virtual tours) they publish which differentiates the company from competitors.
Satisfied clients have shown their appreciation with glowing testimonials that have helped keep this company in the Top 5 search results for 360 capture organic searches and enabled the company to grow without any marketing effort. They do maintain some important tools, including 3,000+ subscribers in their email database and several social media accounts, which can be deployed with compelling content to grow sales.
Recognizing their success, Entrepreneur Magazine has ranked this brand the 214th Best Company in America.
The company is now looking for a qualified investor or group eager to continue the brand’s successful trajectory. This offering could be operated as a standalone company or as a SaaS add-on for a host of industries, including retail, real estate, hospitality, safety, event management, or a commercial capture company. The current ownership is willing and able to ensure the success of a transaction.
