Insights

Analysis, frameworks, and observations on buying small businesses.

Deal Analyses

Analyses of closed public listings. What a smart buyer sees — and what questions they ask before requesting financials.

Deal Analysis #1 · Closed Listing
Commercial Cleaning Company — Southeast U.S.
A $1.8M listing with $480K in stated SDE and a 3.75x multiple. Recurring contracts, 22 employees, and an owner who says he works 15 hours a week. What the numbers suggest — and what they leave out.
Commercial Cleaning $1M–$2M Closed Listing

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