I have tried this many times. I have an awesome failure rate though. I secured one contract that I thought would be great with a minimum investment of only $5

I have tried this many times. I have an awesome failure rate though. I secured one contract that I thought would be great with a minimum investment of only $5,000. I find here (Toronto) the amount was out of their range. To answer your question; Yes I have. Would I do it again? Probably not. I find that small businesses have limited budgets and currently you have to find the guy who is willing to invest in something different in order to convince them. Also, if you lowball yourself there is a lot of work involved and they always come up with ideas as you get into development which increases your costs but they struggle to pay. The larger small businesses tend to lean towards larger organizations so if you are doing it as a contractor it will be harder I think. I am starting to look into developing something where multiple businesses can use the service instead of having to target something specifically for a single customer. Another thing I learned is the monthly payments are really easy for them so if you are able to work in installments and sign a longer contract with monthly fixed payments you will be able to sign a lot more versus trying to get a lump sum.