I Found a Cycling Blog for Sale. The numbers didn’t add up

Photo by Tuvalum on Unsplash

A few weeks ago I was browsing Flippa — the online marketplace where people buy and sell websites — when I came across something that stopped me mid-scroll.

A cycling blog. Asking price: $11,591.

On the surface, that sounds like a reasonable chunk of change for a passive income asset. Buy a blog, collect the ad revenue, maybe grow it a bit. Classic side hustle logic.

But then I looked at the actual numbers.

The dream vs. the reality

The site in question is CycleTravelOverload.com — a bikepacking and adventure cycling blog run by a guy named Codey Orgill who has genuinely toured across Australia, Japan, New Zealand, and Europe. The content is good. It’s real. It reads like someone who actually knows what they’re talking about, which is increasingly rare on the internet.

Here’s where it gets interesting:

• Monthly profit: $287
• Monthly pageviews: 8,349
• Asking price: $11,591

Do the maths. That’s a 40x monthly multiple — meaning the seller wants 40 months of profit upfront just to break even, before you’ve spent a single minute growing the thing.

For context, the general rule of thumb in online business acquisitions is that content sites sell for somewhere between 30–40x monthly profit. So technically, this isn’t outrageous. But there’s a big difference between a site that deserves a 40x multiple and one that’s simply asking for it.

Why the multiple isn’t the whole story

Here’s the thing most “buy a blog for passive income” articles don’t tell you: the multiple is just the starting point. What really matters is why the site is earning what it’s earning — and whether those earnings are stable, growing, or quietly falling apart.

With CycleTravelOverload, a few things gave me pause.

The monetisation is underperforming. At 8,349 monthly pageviews generating $287 in profit, the revenue-per-visitor is thin. Cycling is actually a great niche for affiliate marketing — bikes and gear are expensive, commissions can be solid. But those numbers suggest the site isn’t capitalising on that yet. That could be upside for a savvy buyer, or it could be a sign that the audience doesn’t convert well.

The personal brand problem. A lot of what makes this site credible is Codey. His voice. His actual experiences. His face in the YouTube thumbnails. When you buy the site, you get the domain and the content — but you don’t get him. That makes it genuinely harder to maintain the authenticity that built the audience in the first place.

Google dependency. Like most content sites, this one lives and dies by organic search traffic. One algorithm update and the revenue picture changes overnight. That’s a risk you’re accepting at any multiple.

So is it a bad deal?

Not necessarily. It depends entirely on who’s buying it.

If you’re a cyclist yourself who understands the niche, has affiliate marketing experience, and can write content that feels authentic — this site has real potential. The foundation is solid. The niche is growing. Gravel biking and bikepacking have been on an upward trend for years, and that’s not going away.

But if you’re a passive income seeker hoping to buy a set-and-forget asset, this isn’t it. It needs work, probably a rebrand over time, and someone willing to invest in the content.

My take? The site is worth somewhere in the $8,000–$10,000 range. I’d offer $7,500 and be prepared to walk away.

The bigger lesson for side hustle buyers

Flippa is full of listings that look appealing on the surface. A niche you find interesting. A revenue number that sounds exciting. An asking price that seems within reach.

But buying an online business is more like buying a used car than winning a lottery ticket. You need to look under the hood — at the traffic sources, the monetisation methods, the content quality, the risk of a Google penalty wiping out the income tomorrow.

The multiple tells you what the seller thinks the business is worth. Your job as a buyer is to figure out what it’s actually worth — and whether you’re the right person to own it.

I’ve been reviewing Flippa deals at Flippa Deal Reviews — breaking down the numbers, flagging the risks, and giving honest takes on what I’d actually pay. If you’re thinking about buying an online business (or just find it interesting to watch from the sidelines), it’s worth a look.

The CycleTravelOverload full breakdown is live here if you want to see how I work through a deal from start to finish.

Have you ever bought or considered buying a content site? I’d love to hear what you look for — drop a comment below.