This Business Sells Lights for Lego And It’s Making $500K!
Jul 11, 2025
A unique Estonian e-commerce business specializes in custom lighting kits for LEGO sets, tapping into a nostalgic market fueled by millennials. With impressive revenues of $3.7 million, the company faces challenges like thin profit margins and supply chain risks. The hosts engage in playful discussions about tattoos and the concept of value in niche markets, all while dissecting the potential and pitfalls of investing in this vibrant yet tricky venture.
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question_answer ANECDOTE
Tattoo Anecdote on Generations
Michael shared a story about a young mountain biking friend with humorous regret tattoos, illustrating generational tattoo differences.
It highlighted personal quirks and humor in generational views on tattoos.
insights INSIGHT
Lego Lighting Business Overview
The Lego lighting business is based in Tallinn, Estonia, catering to adult Lego enthusiasts who value nostalgia.
It has $3.7M revenue with $500K EBITDA but is listed at a steep 7x EBITDA multiple, raising questions about valuation.
insights INSIGHT
Margins and Customer Repeat Rate
The product has 13% net profit margins which feel thin given its niche.
Only 20% of customers repeat purchase, indicating most buyers are one-time, limiting customer lifetime value.
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Michael and Heather break down an Estonian e-commerce business selling lighting kits for LEGO sets, questioning its steep 7x EBITDA price tag amid thin margins, one-time buyers, and China sourcing risks.
Business Listing – https://www.bizbuysell.com/Business-Opportunity/lights-for-lego-game-of-bricks/2322004/
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This week, Michael Girdley and Heather Endresen dissect a fascinating e-commerce deal out of Tallinn, Estonia: a business that sells lighting kits designed to supercharge LEGO displays. With $3.7M in annual revenue and $500K in EBITDA, it’s priced ambitiously at $3.5M — roughly 7x EBITDA — raising plenty of red flags.
Key Highlights:
- Asking $3.5M on $500K EBITDA (~7x), 13% net margins - 20% customer return rate suggests mostly one-time buyers - Likely sourcing from China, possible drop-shipping under de minimis rule - Geopolitical & tariff risks could hit future margins hard - Hosts conclude it’s a cool niche, but overpriced — fair multiple closer to 3.5-4x
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