Dane Pan Gave Up 4x to Get 100% Cash: Selling a $1.3M Amazon Brand | Built to Sell Radio

Dane Pan and his wife built Monet Brands to $1.3 million in revenue with two employees, selling a $24.99 skincare tool that cost them $6.10. 

When they took the company to market in 2025, nine buyers cleared the proof-of-funds screen and four of them wrote an LOI. The best offer came in close to four times SDE with a holdback attached. Dane countered for all cash at close, watched two of his four offers disappear, and signed at 3.6. In this week’s episode of Built to Sell Radio, you discover how to 

• Price the difference between all cash at close and a holdback, in turns of multiple 

• Test an earnout with the one question Dane’s fractional CFO asked him first 

• Read what it means when a buyer refuses to move off a sales-based earnout 

• Pick between two finalists when the money on the table is close to identical 

• Strip costs out of the business before an acquirer capitalizes them at 3.6 times 

• Tell the difference between a dependency worth fixing and one worth selling 

• Get inventory valued on top of the purchase price rather than buried inside it 

Show Notes & Links

Connect with Dane on LinkedIn

Email Dane Here

If you liked this interview you’ll love our weekly newsletter, Built to Sell News. Subscribe for exclusive content.

Definitions

Letter of Intent (LOI): This document outlines the basic terms and conditions of a deal before a formal agreement is drawn up. It serves as a mutual commitment between the buyer and the seller to move forward with the transaction on the agreed-upon terms.

Due-Diligence: This is a comprehensive appraisal of a business or investment undertaken before a merger, acquisition, or investment. It seeks to validate the information provided and uncover any potential risks or liabilities.

Earn-out: This is a financing arrangement for the purchase of a business, where the seller must meet certain performance goals before receiving the full purchase price. It reduces the buyer’s risk and aligns the interests of both parties post-acquisition.

About Our Guest

Dane Pan

Dane Pan is the co-founder of Monet Brands, an Amazon skincare business he built with his wife to $1.3 million in revenue on a team of two. Their flagship product — a $24.99 skincare tool that cost them $6.10 — carried margins strong enough to bring nine qualified buyers to the table when the couple took the company to market in 2025.

Four of those buyers wrote letters of intent, ranging from two to four times SDE. The richest offer was also the most conditional: close to 4x, with a piece held back against future sales. But Dane and his wife had written down their non-negotiables before the process started, and all of the money at close was at the top of the list. He let two offers go and signed at 3.6, all cash, with inventory paid at cost on top.