24-machine store, secondary metro
§ 01 · Observed
What was documented in diligence.
Card-system data reconciled to deposits within 2% for the trailing 12 months. Machines averaged 6 years of age with full service records. Lease 14 years remaining with renewal options. Utility share 24% of revenue, consistent with mid-band benchmarks. WDF and PUD revenue $42K combined, presented separately with fully-loaded labor. Owner-operator working ~25 hours/week with documented role.
§ 02 · Outcome
What happened.
Buyer signed LOI at 2.8× SDE. QoE confirmed earnings quality on the broker-presented number. Deal closed at original price with standard SBA terms.
§ 03 · Structural Pattern
How this deal fits the four-pillar framework.
Mid-band placement (2.7×–3.3×) on a deal where two-of-four pillars sit top-of-band (Fundability, Transferability) and two sit mid-band (Earnings Quality, Pricing). Multiple paid was inside the structural condition envelope; no repricing required.
This is an anonymized composite drawn from observable structural patterns in the sample window. It is not a specific deal. The structural pattern, band placement, and outcome reflect commonly observed combinations; a future consented case study will replace this entry.
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