Your stats don't mention how much revenue Cheddar is generating. That's the most important metric for determining the price!
Nobody cares how many hours you put into something when determining price.
Based on your traction so far, this acquisition would be based on a revenue multiple, not as a strategic sale.
For a niche SaaS product like this one, I would expect a valuation of 12X-24X monthly revenue depending on growth rate. Is this product making about $10K a month now to justify the $125,000 price?
Take a look at some of the products on Flippa to get a sense of how much you could get.
On flippa it's worse than that 10x, 12x at most. People there have a huge BS radar, they seen it all. Their revenue is maybe $900/m after apple's 30% cut looking at the stats.
Nobody cares how many hours you put into something when determining price. Based on your traction so far, this acquisition would be based on a revenue multiple, not as a strategic sale. For a niche SaaS product like this one, I would expect a valuation of 12X-24X monthly revenue depending on growth rate. Is this product making about $10K a month now to justify the $125,000 price? Take a look at some of the products on Flippa to get a sense of how much you could get.