This business isn't the kind of company a VC would invest in, which means it's also not the kind of company that somebody would see and think, "We could blow this thing sky high!" (unless $8-10k/mo is sky high). It does have great potential, but there is no chance of it growing exponentially (like a social network or other highly successful SaaS). Because of this, I couldn't imagine getting more than 3 years revenue for it, and it's such a consistent income earner that it's not something I would want to sell for less than (perhaps) 8 years revenue.
Sounds reasonable and makes me think, ok you are not excited to develop it to the next stage but what about getting someone else to help you with that?
What about selling with some kind of profit share/earn out if the other person manages to grow it, if you think that with effort it could be 10x larger there is plenty of upside for both parties. Someone else who wants a SaaS business, not a VC.
