If it was profiting @ 75K a year, thats half a designer, half a marketer and half a programmer for a year. Hire them in, and let them do what they like with it for 6 months. Get interns and let them have a play with it if you want to give some kids a chance.
It's usually a bad idea to shut down a profit center, unless it truly is unsustainable. @75K this was doing well and IMO should not have been shut down.
My usual strategy works well here: Hire in @min wage, with a huge bonus linked to new subs.
Depending on the size of the company it might just make a great graduate / junior dev recruitment program. Take them on with a probationary period and watch how well they do with the sideline gig. If they turn the code to spaghetti within months then you probably don't want them working on the core business. The last one through the mill becomes supervisor for the next one.
The only potential issue with this strategy is damaging the brand name of the consulting company. I'm not entirely convinced that this is really an issue.