The Buyer & Seller Podcast with Fexingo: Business Brokers, Exits, and Private Sales Explained

In this episode of The Buyer & Seller Podcast, Lucas and Luna dig into the surprising sale of a family-owned hardware chain that fetched ten times EBITDA. They break down what the buyers actually paid for: not inventory or foot traffic, but a fiercely loyal customer base and decades of vendor trust. They walk through the operational metrics that mattered—same-store sales, inventory turnover, and employee tenure—and explain why the chain's modest growth story was still a premium asset. Along the way, they touch on how independent hardware stores are outmaneuvering big-box rivals, and what that means for valuation. If you're thinking about selling a business or just curious how these deals get priced, this episode gives you a concrete framework. #HardwareChain #FamilyBusiness #EBITDAMultiple #BusinessSale #BusinessBroker #PrivateSale #SellingABusiness #Valuation #MainStreetBusiness #Retail #CustomerLoyalty #VendorRelationships #IndependentRetail #DealStructure #BusinessPodcast #FexingoBusiness #BuyerAndSeller #ExitPlanning Keep every episode free: buymeacoffee.com/fexingo

In this episode of The Buyer & Seller Podcast, Lucas and Luna dissect the surprising sale of a regional family-owned hardware chain at a 10 times EBITDA multiple. They explore why this traditional, asset-heavy business attracted such a premium, focusing on the power of real estate, customer loyalty, and a clean financial history. Through specific anecdotes and industry insights, they reveal how the chain's diversified revenue streams and strong community ties made it a rare gem for buyers. Tune in to learn what small business owners can do to boost their company's valuation, even in a declining sector. #HardwareChain #BusinessSale #EBITDAMultiple #Valuation #FamilyBusiness #Retail #RealEstate #CustomerLoyalty #RecurringRevenue #DueDiligence #SellingABusiness #BusinessBroker #MergersAndAcquisitions #SmallBusiness #FexingoBusiness #BusinessPodcast #ExitPlanning #PrivateSales Keep every episode free: buymeacoffee.com/fexingo

In this episode of The Buyer & Seller Podcast, Lucas and Luna break down the sale of a commercial kitchen rental business that went for 14 times EBITDA. They explore what made this niche operation so attractive: fractional ownership of kitchen space, multi-year tenant contracts, and the recurring revenue model that comes with shared infrastructure. Discover how the seller structured the deal to avoid the key person discount, why the buyer saw it as a real estate play with an operating business attached, and the specific due diligence items that could have killed the transaction. If you are thinking about selling a business with shared assets or buying one, this episode offers practical insights on how to position your company for a premium multiple. #CommercialKitchen #BusinessSale #EBITDAMultiple #RecurringRevenue #AssetHeavyBusiness #BusinessBroker #SellSide #DueDiligence #KeyPersonRisk #TenantContracts #SharedInfrastructure #PrivateSale #BusinessPodcast #FexingoBusiness #BuyerSellerPodcast #SmallBusinessExit #RealEstatePlay #MultipleExpansion Keep every episode free: buymeacoffee.com/fexingo

In this episode, Lucas and Luna break down the surprising sale of a dental lab that fetched 18 times EBITDA. They explore how a combination of sticky client relationships, a niche in implants, and a retiring owner who built a strong second-in-command created a bidding war. The hosts unpack the valuation math, the role of seller-financed notes, and why the buyer—a private equity roll-up—was willing to pay up. Along the way, they share lessons for any business owner looking to maximize their exit multiple, from diversifying revenue to grooming a successor. If you're thinking about selling your business, this episode offers a clear-eyed look at what drives multiples above the market norm. #DentalLab #BusinessValuation #EBITDAMultiple #PrivateEquity #ExitPlanning #SellerFinancing #BusinessBrokers #MergersAndAcquisitions #RecurringRevenue #SuccessionPlanning #HealthcareDental #BusinessSale #SmallBusinessExit #ValuationDrivers #RollUpStrategy #FexingoBusiness #BusinessPodcast #BusinessExit Keep every episode free: buymeacoffee.com/fexingo

In this episode, Lucas and Luna dissect the sale of a regional family-owned hardware chain that fetched a 10 times EBITDA multiple, despite intense competition from big-box retailers. They break down what made the chain attractive: loyal customer base, real estate portfolio, and a strong brand. They also explore the seller's decision to sell to a private equity firm rather than a strategic buyer, and what that meant for the multiple. With practical lessons for any business owner eyeing an exit, this episode reveals what buyers truly pay for beyond the financials. #HardwareChain #FamilyBusiness #EBITDAMultiple #PrivateEquity #BusinessSale #ExitPlanning #BusinessBroker #SellYourBusiness #MergersAndAcquisitions #MainStreetBusiness #Retail #BusinessValuation #DealStructure #LoyalCustomers #RealEstate #FexingoBusiness #BusinessPodcast #MAndA Keep every episode free: buymeacoffee.com/fexingo

In this episode, Lucas and Luna break down why a small laundromat chain sold for just eight times EBITDA, and what that multiple really says about the business. They walk through the nuts and bolts of the deal: the cash flow profile, the real estate angle, the equipment lease, and the buyer's math. You'll learn why a steady, boring business can sometimes command a premium—and why this one didn't quite get there. Along the way, they touch on the importance of owner involvement, the risk of equipment obsolescence, and how a savvy buyer can create value simply by cutting labor costs. If you're thinking about selling your own small business, or just curious about how these deals actually get priced, this episode gives you a clear, honest look at the process. #LaundromatSale #EBITDAMultiple #SmallBusinessExit #BusinessBrokers #PrivateSales #CashFlowBusiness #OwnerFinancing #RealEstateInDeals #EquipmentLease #MachineMaintenance #LaborCosts #DueDiligence #MainStreetDeals #BusinessValuation #FexingoBusiness #BusinessPodcast #ExitPlanning #CashBusiness Keep every episode free: buymeacoffee.com/fexingo

Most business owners think a higher EBITDA multiple means a richer exit. But in this episode, Lucas and Luna dig into why the actual multiple paid often matters less than how the deal is structured — specifically the earnout. They walk through a real 2026 case where a boutique IT staffing firm agreed to a headline multiple of 7 times EBITDA with a heavy earnout component, only to see the buyer lean on the owner to push revenue into the earnout period, dragging down the final payout. They break down how earnouts shift risk from buyer to seller, why they're now baked into nearly half of all small deals under $10 million, and the structural red flags sellers should watch for before signing — like annual repricing, non-compete restrictions that throttle sales, and vague working-capital targets. Lucas offers a practical rule of thumb: if an earnout is on the table, assume you'll collect sixty cents on the dollar, and price your base consideration accordingly. The tone is sharp, grounded in real numbers, and aimed at owners who want to negotiate like they've been through a deal before. #Earnout #BusinessSale #MergersAndAcquisitions #EBITDA #DealStructure #SellerFinance #SmallBusiness #ExitPlanning #Negotiation #ITStaffing #RiskManagement #Valuation #BusinessBroker #PrivateSale #BusinessPodcast #FexingoBusiness #Business #Finance Keep every episode free: buymeacoffee.com/fexingo

In Episode 155 of The Buyer & Seller Podcast, Lucas and Luna break down a real-world sale that shows why recurring revenue is the single most powerful lever on a business's valuation. They walk through a niche commercial laundry service that sold for 9.5 times EBITDA — not because of growth, but because 82 percent of its revenue was under multi-year contracts. Along the way, they compare it with a one-off project business that sold for barely 3 times EBITDA, explain the 'recurring revenue premium' in plain numbers, and offer practical steps any owner can take to build a more predictable revenue stream before they sell. Expect specific multiples, a candid look at what buyers actually pay for, and a clear takeaway you can use whether you're selling in five years or just curious how the game works. #RecurringRevenue #BusinessValuation #EBITDAMultiple #BusinessSale #CommercialLaundry #ServiceBusiness #ExitPlanning #BuyerAndSeller #MergersAndAcquisitions #BusinessBrokers #OwnerExit #SellYourBusiness #BusinessPodcast #Finance #Entrepreneurship #PrivateSale #FexingoBusiness #BusinessEducation Keep every episode free: buymeacoffee.com/fexingo

In this episode, Lucas and Luna break down the surprising sale of a residential landscaping company for fifteen times EBITDA—a multiple usually reserved for tech or recurring-revenue businesses. They explore the specific factors that drove the valuation: long-term municipal contracts, a loyal customer base, and an owner who had built a management team that could run without him. The conversation covers how the buyer saw predictable cash flows in a business that seemed seasonal and unpredictable, and the role of vendor financing in bridging the gap. Lucas explains the difference between seller's discretionary earnings and EBITDA, and why the landscaping firm's recurring revenue changed the game. Luna pushes back on whether the multiple was justified, and they discuss what smaller business owners can learn about positioning their own companies for a high-multiple exit. If you're thinking about selling a service business, this episode offers a clear path to maximizing your valuation. #LandscapingBusiness #EBITDAMultiple #BusinessSale #RecurringRevenue #VendorFinancing #SellerDiscretionaryEarnings #ManagementTeam #MunicipalContracts #ServiceBusiness #BusinessBroker #ExitPlanning #Valuation #SmallBusiness #BusinessPodcast #FexingoBusiness #BusinessSaleTips #HighMultipleExit #PrivateSale Keep every episode free: buymeacoffee.com/fexingo

In this episode, Lucas and Luna break down the sale of a regional commercial janitorial company that commanded an 11x EBITDA multiple, despite intense competition and low barriers to entry. They explore how the owner engineered the valuation through a mix of long-term contracts, high employee retention, and a niche focus on healthcare facilities. The discussion covers why buyers pay up for recurring revenue in service businesses, the role of key person risk, and how the deal structure included an earn-out tied to client retention. Lucas and Luna also compare this to lower-multiple sales in the same sector, offering practical takeaways for owners thinking about selling. They touch on the importance of grooming a second-in-command, diversifying the client base, and documenting standard operating procedures. The episode closes with a look at what this means for the broader market for small business acquisitions in August 2026. #BusinessSale #EBITDAMultiple #CommercialJanitorial #RecurringRevenue #BusinessBroker #SellingABusiness #HealthcareFacilities #KeyPersonRisk #EarnOut #ClientRetention #ExitPlanning #DueDiligence #BusinessValuation #SmallBusiness #MergersAndAcquisitions #FexingoBusiness #BusinessPodcast #DealStructure Keep every episode free: buymeacoffee.com/fexingo

In episode 152 of The Buyer & Seller Podcast, Lucas and Luna break down why a regional restaurant equipment supplier—think ovens, fryers, and walk-in coolers—sold for just nine times EBITDA despite posting steady revenue and healthy margins. They unpack how the business's heavy reliance on new-build construction contracts capped its multiple, how buyers penalize lumpy revenue, and why a simple shift toward recurring service contracts could have pushed the valuation toward twelve or thirteen times. Along the way, they compare it to the ice machine rental business from episode 137, which fetched six hundred times EBITDA, to show exactly where the market draws the line between product sales and recurring revenue. If you're a founder thinking about an exit, this episode gives you a concrete blueprint for what to fix before you bring in a broker. Plus, Lucas and Luna share how listener support keeps the show ad-free. #RestaurantSupplier #EBITDAMultiple #BusinessValuation #RecurringRevenue #EquipmentSales #BuySellBusiness #ExitPlanning #BrokerAdvice #LumpyRevenue #ContractDependency #ServiceContracts #IceMachineRental #CashFlow #BusinessSale #SMB #FexingoBusiness #BusinessPodcast #MergersAndAcquisitions Keep every episode free: buymeacoffee.com/fexingo

In Episode 151 of The Buyer & Seller Podcast, Lucas and Luna break down the sale of a small language school that went for 16 times EBITDA. They explore why recurring revenue from corporate contracts and a diversified student base made it so attractive, and how the owner's decision to step back from teaching created a transferable business. The episode digs into the mechanics of the deal, the buyer's perspective, and what the multiple really said about the school's cash flow quality — and what it means for other service businesses thinking about an exit. #LanguageSchoolSale #BusinessExit #EBITDAMultiple #RecurringRevenue #CorporateContracts #BusinessTransfer #SmallBusinessSale #BusinessBroker #PrivateSale #Valuation #CashFlow #BuyerPerspective #DueDiligence #EducationBusiness #BusinessPodcast #FexingoBusiness #Fexingo #BusinessAcquisition Keep every episode free: buymeacoffee.com/fexingo

In this milestone 150th episode, Lucas and Luna dissect a sale that defies the usual small-business pattern: a regional bakery chain that sold for a stunning twenty times EBITDA. The buyers weren't paying for flour and ovens — they were paying for shelf placement in two thousand grocery stores and a logistics network that could deliver fresh pastries overnight. Lucas walks through the specific assets that drove the multiple, the difference between a business that sells for asset value and one that sells for strategic value, and why a buyer's synergies can quietly double or triple what you'd get from a financial buyer. Luna presses on the risks: what happens if the key baker leaves, or if a big grocery chain renegotiates the contract. The episode closes with a practical checklist for any owner wondering whether their own business has hidden strategic value worth cultivating before a sale. If you're thinking about selling — or buying — this one reframes how you value distribution, customer concentration, and the difference between a job and a real asset. #BusinessSale #EBITDAMultiple #BakeryBusiness #StrategicBuyer #BusinessBrokers #PrivateSale #DistributionNetwork #ShelfPlacement #GroceryContracts #BusinessValuation #KeyPersonRisk #Synergies #ExitPlanning #SmallBusiness #BusinessPodcast #FexingoBusiness #BuyerSellerPodcast #BusinessAcquisition Keep every episode free: buymeacoffee.com/fexingo

In this episode of The Buyer & Seller Podcast, Lucas and Luna dig into a 2025 sale that should have been a home run: a medical billing company with 40 employees, clean books, and a profitable niche in anesthesia coding. The owner expected a double-digit EBITDA multiple and a competitive bidding war. Instead, the business sold for just 3.2 times EBITDA — to a PE roll-up that had been circling for months. Why? Because 72 percent of revenue came from a single hospital system. Lucas walks through how that concentration ratio scared off every other buyer, triggered a full-blown audit of the top client contract, and gave the eventual acquirer all the leverage at the negotiating table. The episode breaks down what a concentration analysis really looks like from a buyer's perspective, how to read a client list for risk, and why even a 'recurring' contract can be a liability if it's tied to one payer. If you're thinking about selling a services business, this is the cautionary tale that will make you check your own numbers before you go to market. #CustomerConcentration #MedicalBilling #BusinessSale #EBITDAMultiple #SellerCaution #MergersAndAcquisitions #PrivateEquity #RiskAssessment #RevenueDiversification #ClientRisk #BusinessBroker #ExitPlanning #SalesProcess #BusinessPodcast #FexingoBusiness #BusinessBrokers #PrivateSales #ExitStrategy Keep every episode free: buymeacoffee.com/fexingo

In this episode of The Buyer & Seller Podcast, Lucas and Luna explain why distribution often beats product when it comes to selling a business. Using the example of a regional HVAC parts distributor that sold for 11 times EBITDA — despite stiff competition from national players — they break down the structural advantages of having a deep customer network. They discuss how recurring revenue from loyal contractors, the moat of local relationships, and the difficulty of replicating a distribution network all contribute to higher valuations. The conversation also touches on how buyers think about risk: a product can be copied, but a distribution network takes years to build. If you’re considering selling a business — or buying one — this episode offers a clear framework for what really drives value in the lower middle market. #BusinessSale #DistributionNetwork #EBITDAMultiple #HVACParts #LowerMiddleMarket #BusinessBroker #MergersAndAcquisitions #SellingABusiness #BuyingABusiness #CustomerMoat #RecurringRevenue #Loyalty #ValuationDriver #FexingoBusiness #BusinessPodcast #TheBuyerAndSellerPodcast #ExitPlanning #PrivateSale Keep every episode free: buymeacoffee.com/fexingo

In this episode of The Buyer & Seller Podcast, Lucas and Luna dig into a recent deal that turned heads: a small auto repair shop that sold for six times EBITDA. Not because of a flashy brand or a tech story, but because it locked in recurring revenue through fleet maintenance contracts. We break down exactly how the owner built those contracts, what the buyer was really paying for, and why recurring revenue can lift a valuation far beyond what the physical assets suggest. Along the way, we talk about the difference between a business that sells for a multiple of earnings and one that sells like a subscription. If you've ever wondered what separates a four-time EBITDA sale from a six-time one, this episode gives you a concrete playbook. No hype, just the numbers and the story behind them. #AutoRepair #FleetMaintenance #RecurringRevenue #BusinessValuation #EBITDA #SmallBusinessSale #BusinessBrokers #PrivateSale #MainStreetBusiness #ServiceBusiness #Contracts #CashFlow #DueDiligence #BuyerPerspective #SellerStory #BusinessPodcast #FexingoBusiness #ExitPlanning Keep every episode free: buymeacoffee.com/fexingo

In this episode of The Buyer & Seller Podcast, Lucas and Luna break down how a family-owned commercial printing business in the Midwest saw its valuation plummet to just 1.5 times EBITDA after losing its biggest client — a major retailer that filed for Chapter 11 in 2025. They explore why customer concentration is a red flag for buyers, how lenders view it, and what business owners can do to de-risk before a sale. Fresh numbers, real deal dynamics, and practical takeaways for anyone preparing to exit. #CustomerConcentration #PrintingBusiness #BusinessValuation #EBITDAMultiple #BusinessSale #FamilyBusiness #ExitPlanning #BusinessBroker #SellingABusiness #Diversification #RevenueRisk #MergersAndAcquisitions #SmallBusinessExit #MainStreetDeals #Business #FexingoBusiness #BuyerAndSellerPodcast #Podcast Keep every episode free: buymeacoffee.com/fexingo

Lucas and Luna dissect a management consulting firm that sold for just 1.5 times EBITDA despite steady profits. The culprit? Key person dependency: the founder generated over 80% of revenue and had no succession plan. They explore how buyers price in owner reliance, why earnouts often fall flat, and three strategies to preserve value before listing. A counterpoint to the high-multiple stories dominating the market. #KeyPersonRisk #BusinessValuation #ConsultingFirm #LowMultiple #BusinessBroker #PrivateSale #EBITDA #MergersAndAcquisitions #ExitPlanning #BusinessPodcast #FexingoBusiness #BuyerAndSeller #ValuationMultiple #DueDiligence #RevenueDependency #SmallBusiness #SellingABusiness #BusinessSale Keep every episode free: buymeacoffee.com/fexingo

Episode 144 of The Buyer & Seller Podcast explores why the highest EBITDA multiple isn't always the best deal. Lucas and Luna break down a real-world case: an Ohio landscaping company that turned down a 15x earnout-laden offer for a 10x all-cash bid. They discuss earnout failure rates, buyer psychology, and the hidden costs of complex deal structures. Perfect for business owners considering an exit—learn what truly matters beyond the headline number. #BusinessValuation #EBITDA #Earnouts #BusinessExit #MergersAndAcquisitions #SellerFinancing #DealStructure #BusinessBroker #OhioLandscaping #CashOffer #Multiple #BusinessSale #FexingoBusiness #BusinessPodcast #BuyerAndSeller #SmallBusiness #ExitPlanning #ValuationMultiples Keep every episode free: buymeacoffee.com/fexingo

In this episode, Lucas and Luna break down the sale of a Midwest welding supply distributor that sold at 12 times EBITDA — more than double the market average — because of a strategic buyer's interest in a sole-supplier contract. They explore how customer concentration became an asset instead of a liability, the role of earnouts in bridging valuation gaps, and why small-business owners should never assume their biggest risk is their biggest problem. Perfect for anyone thinking about selling a business or buying one with hidden strategic value. #WeldingSupply #BusinessSale #EBITDA #StrategicBuyer #CustomerConcentration #Earnout #Valuation #SmallBusiness #BusinessBroker #PrivateSale #ExitPlanning #MidwestBusiness #IndustrialGas #SoleSupplier #BusinessPodcast #BuyerAndSeller #FexingoBusiness #Episode143 Keep every episode free: buymeacoffee.com/fexingo

This episode of The Buyer & Seller Podcast looks at a bookkeeping firm in the Bay Area that sold for just two times EBITDA. Lucas and Luna break down why the multiple was so low compared to other small businesses, and what the broker did to get the deal done — including a seller note and earn-out. A realistic look at Main Street valuations. #BookkeepingFirm #LowMultiple #MainStreetSale #SellerNote #EarnOut #BusinessBroker #BusinessExit #PrivateSale #EBITDAMultiple #BayArea #SmallBusiness #Valuation #FamilyBusiness #Finance #FexingoBusiness #BusinessPodcast #NoAds #BuyerAndSeller Keep every episode free: buymeacoffee.com/fexingo

In episode 141 of The Buyer & Seller Podcast, Lucas and Luna break down the sale of SecureGuard Services, a St. Louis security guard company that sold for a staggering 400 times EBITDA. The key? Multi-year contracts with commercial real estate firms that created predictable, recurring revenue. They walk through the numbers: 80% gross margins, 90% client retention, and a fragmented industry that made consolidation attractive. Plus, they discuss the earnout structure that kept the founder on board for two years, and how buyers value labor-intensive service businesses. This is a masterclass in positioning a low-margin, high-stability business for a premium exit. #SecurityGuardBusiness #BusinessSale #RecurringRevenue #EBITDAMultiple #BuyerAndSellerPodcast #FexingoBusiness #BusinessBrokers #ExitStrategy #PrivateSales #StLouis #CommercialRealEstate #MultiYearContracts #Earnout #BusinessValuation #MergersAndAcquisitions #SmallBusinessExit #BusinessPodcast #ServiceBusiness Keep every episode free: buymeacoffee.com/fexingo

What makes a small business sale hit an extreme multiple? This episode breaks down the sale of AquaCheck Laboratories, a water testing company in Ohio that sold for 600 times monthly EBITDA. The key: long-term contracts with municipal water systems that produced predictable, non-cyclical revenue. Lucas and Luna walk through the deal structure, why a strategic buyer paid up, and what small business owners can learn about building an exit-ready company with government clients. #WaterTestingLab #BusinessExit #GovernmentContracts #EBITDAMultiple #StrategicAcquisition #SmallBusinessSale #OhioBusiness #MunicipalContracts #RecurringRevenue #BusinessBroker #SellerFinancing #DueDiligence #ExitPlanning #BuyerSellerPodcast #FexingoBusiness #BusinessPodcast #MergersAndAcquisitions #PrivateSales Keep every episode free: buymeacoffee.com/fexingo

Lucas and Luna break down the sale of a billboard advertising company that commanded an 800x EBITDA multiple. They explore why long-term lease agreements, zoning permits, and prime real estate make billboards a unique asset class for institutional buyers. Plus, how digital billboards are boosting valuations even further. #BillboardAdvertising #BusinessSale #EBITDA #RealEstate #OutOfHomeAdvertising #SmallBusinessExit #InstitutionalBuyers #LeaseAgreements #ZoningPermits #DigitalBillboards #ValuationMultiple #AssetClass #PassiveIncome #BusinessBroker #MergersAndAcquisitions #FexingoBusiness #BusinessPodcast #TheBuyerAndSellerPodcast Keep every episode free: buymeacoffee.com/fexingo

Lucas and Luna break down the sale of a commercial kitchen exhaust cleaning company that fetched 450 times EBITDA. They explore why health-compliance recurring contracts are worth a premium, how the owner built a sticky customer base, and what buyers really pay for predictable revenue tied to regulatory mandates. A sharp look at a niche service business that turned routine inspections into a seven-figure exit. #KitchenExhaustCleaning #BusinessSale #EBITDAMultiple #RecurringRevenue #HealthCompliance #SmallBusinessExit #ServiceBusiness #FacilityMaintenance #FireSafety #Valuation #BuyerStrategy #SellerAdvice #BusinessBroker #FexingoBusiness #BusinessPodcast #BuyerAndSellerPodcast #PrivateSales #ExitPlanning Keep every episode free: buymeacoffee.com/fexingo

In this episode, Lucas and Luna explore the unlikely world of commercial ice machine rentals. They break down the recent sale of IceCo Services, a small regional operator that sold for 600 times EBITDA. With a handful of long-term lease contracts and almost zero customer turnover, the business achieved a multiple that would make any SaaS founder jealous. Lucas explains why buyers are so hungry for these 'boring' physical-asset businesses, and what the deal tells us about the market for ultra-stable cash flows. If you've ever wondered how a business that just drops off ice machines can be worth millions, this one's for you. #IceMachineRental #CommercialIce #BusinessExit #EBITDA #SmallBusinessSale #RecurringRevenue #ServiceBusiness #BusinessBroker #Entrepreneur #PassiveIncome #IceCo #FexingoBusiness #BusinessPodcast #BuyerAndSeller #PodcastEpisode #HighMultiple #LeaseContracts #SmallBiz Keep every episode free: buymeacoffee.com/fexingo

In this episode, Lucas and Luna explore the sale of a niche industrial service business: a hydraulic hose repair company based in Houston that sold for 350 times EBITDA. With emergency service contracts tied to factories, construction sites, and oil rigs, the business enjoyed incredibly sticky revenue and pricing power. Lucas breaks down how the multiple was justified by the mission-critical nature of the service, the recurring revenue from 24/7 contracts, and the operational moat created by specialized technicians and proprietary inventory management. Luna asks whether such multiples are replicable for other field service businesses. The hosts discuss the importance of being irreplaceable in a small niche, the role of asset-light models, and why buyers paid a premium for a business with no recurring subscription—just recurring emergencies. They also touch on the broker's strategy for positioning the business to private equity groups. #HydraulicHoseRepair #BusinessSale #EBITDAMultiple #FieldService #NicheBusiness #SmallBusinessExit #BusinessBroker #PrivateEquity #HoustonBusiness #MissionCritical #RecurringRevenue #IndustrialService #ServiceBusiness #BusinessPodcast #FexingoBusiness #BuyerAndSellerPodcast #BusinessValuation #ExitPlanning Keep every episode free: buymeacoffee.com/fexingo

In this episode, we break down the sale of a Midwest document shredding company that commanded a 400x EBITDA multiple. The key drivers: long-term recurring contracts with law firms, medical offices, and financial advisors; a route density advantage that kept operating costs low; and near-zero customer churn thanks to regulatory compliance requirements. We walk through the numbers, why the buyer—a national waste management firm—paid such a premium, and what any service business owner can learn about building recurring revenue that buyers will pay a fortune for. Plus, we discuss how route density data turned a mundane shredding operation into a multi-million-dollar exit. #DocumentShredding #BusinessBroker #EBITDAMultiple #RecurringRevenue #RouteDensity #SmallBusinessSale #MergersAndAcquisitions #WasteManagement #BusinessValuation #FexingoBusiness #BusinessPodcast #BuyerAndSeller #PrivateSales #ExitPlanning #ServiceBusiness #SubscriptionModel #MidwestBusiness #IndustrialServices Keep every episode free: buymeacoffee.com/fexingo

Lucas and Luna break down the sale of a single-location express car wash in Phoenix that closed at an eye-popping 1200x monthly EBITDA multiple. The secret wasn't equipment or real estate — it was the wash's membership database: 8,400 unlimited-plan subscribers, 94 percent monthly retention, and five years of payment-history data. The buyer, a regional operator, valued the predictable revenue stream at over $9 million on $7,500 in monthly EBITDA. The hosts walk through how recurring membership models let micro-businesses command multiples usually reserved for SaaS companies, why data transparency matters more than physical assets, and what this deal signals about the future of service-business M&A. They also discuss the simple spreadsheet-based data room that sealed the deal — no algorithm, no AI, just clean numbers and a three-year churn curve. #CarWashSale #BusinessBroker #RecurringRevenue #MembershipModel #EBITDAMultiple #ServiceBusiness #PhoenixBusiness #SmallBusinessExit #PrivateSale #DataRoom #Valuation #BusinessAcquisition #MergersAndAcquisitions #BusinessPodcast #FexingoBusiness #BuyerAndSellerPodcast #LucasAndLuna #SubscriptionEconomy Keep every episode free: buymeacoffee.com/fexingo

In this episode of The Buyer & Seller Podcast, Lucas and Luna break down the mechanics behind a commercial laundry business that sold for 200 times its EBITDA. They explore how multi-year contracts with hotels and hospitals created predictable, recurring revenue that buyers valued at a premium. The discussion covers revenue concentration risk, contract quality, and how seller financing can bridge valuation gaps. Along the way, they touch on listener support and the economics of running an ad-free podcast. Whether you're a business owner planning an exit or an investor evaluating small acquisitions, this episode offers practical insights into why recurring contracts command high multiples. #Business #BusinessForSale #EBITDAMultiple #RecurringRevenue #CommercialLaundry #BusinessBroker #SellingABusiness #ExitPlanning #PrivateSales #BuyerAndSeller #FexingoBusiness #BusinessPodcast #Valuation #SellerFinancing #ContractRevenue #SmallBusiness #Acquisition #DueDiligence Keep every episode free: buymeacoffee.com/fexingo

In this episode of The Buyer & Seller Podcast, Lucas and Luna break down the sale of a suburban dog daycare that achieved a 300x EBITDA multiple — not because of flashy growth, but because of airtight recurring membership data. The business had 85 percent of revenue locked into monthly subscription plans, with 14-month average retention and a waitlist of 40 dogs per location. The buyer wasn't buying kennels and play yards — they were buying a predictable cash flow stream with documented churn and lifetime value. Lucas walks through how the seller structured the data room, why the buyer used seller financing to bridge the valuation gap, and what metrics actually mattered to the private equity-backed platform that acquired it. If you own a subscription-based service business — or you're thinking of starting one — this episode gives you a playbook for maximizing exit value without scaling to 100 locations. #DogDaycare #PetBusiness #RecurringRevenue #EBITDA #BusinessExit #SellerFinancing #PrivateEquity #BusinessBroker #SubscriptionModel #ExitPlanning #SmallBusiness #BusinessSale #DataRoom #ChurnRate #CustomerLTV #BusinessPodcast #FexingoBusiness #BuyerAndSeller Keep every episode free: buymeacoffee.com/fexingo

In Episode 131 of The Buyer & Seller Podcast, Lucas and Luna break down the sale of a mid-sized residential pool service company in Phoenix that sold for an eye-popping 150 times EBITDA. The key driver? A portfolio of locked-in chemical delivery contracts with automatic renewal clauses. Lucas walks through the deal structure, the buyer profile (a roll-up platform backed by PE), and why the multiple defied traditional service-business logic. They discuss how route density and subscription-like revenue transformed a seasonal maintenance business into a high-multiple asset. Luna pushes back on whether the multiple is sustainable, and they explore the risks of buyer overpayment in the post-COVID small-business M&A market. No fluff, just the numbers and the story behind a 150x exit. #PoolServiceBusiness #150xEBITDA #SubscriptionRevenue #BusinessExit #MiddleMarketM&A #RollUp #PrivateEquity #PhoenixBusiness #RecurringContracts #BusinessBrokers #SmallBusinessSale #ServiceBusiness #MultipleExpansion #FexingoBusiness #BuyerAndSellerPodcast #Podcast #Business #Finance Keep every episode free: buymeacoffee.com/fexingo

In this episode, Lucas and Luna break down the sale of a single-location pet grooming business in Austin, Texas, that sold for 800 times EBITDA. They explore how the owner built a membership-based model with 1,200 recurring monthly clients, tracked lifetime value per pet, and used data on grooming frequency and cancellations to prove revenue stability. The hosts discuss why buyers are paying such high multiples for micro-businesses with subscription elements, the role of CRM data in valuation, and what pet grooming teaches about recurring revenue in unexpected places. #PetGrooming #BusinessSale #EBITDA #RecurringRevenue #MembershipModel #Valuation #SmallBusiness #ExitPlanning #BusinessBrokers #SubscriptionBusiness #AustinTexas #BusinessPodcast #FexingoBusiness #Business #MAndA #PrivateSales #BuyerAndSeller #DataDriven Keep every episode free: buymeacoffee.com/fexingo

In episode 129 of The Buyer & Seller Podcast, Lucas and Luna break down the sale of a power washing business in Phoenix that went for 900x EBITDA — despite having no recurring contracts and no route density. The secret was a single city government contract for graffiti removal that was set to renew automatically for five years. We walk through the deal structure, the due diligence process, and why municipal contracts command a premium that can dwarf even the best route density numbers. Along the way, we touch on how a small listener base keeps the show ad-free, and why the buyer was willing to pay a nine-figure multiple for what looked like a commodity service. #PowerWashing #BusinessSale #EBITDA #CityContracts #MunicipalRevenue #GraffitiRemoval #PhoenixBusiness #SmallBusinessExit #BusinessBroker #DueDiligence #RecurringRevenue #GovernmentContract #PrivateSale #BusinessPodcast #FexingoBusiness #TheBuyerAndSellerPodcast #LucasAndLuna #Episode129 Keep every episode free: buymeacoffee.com/fexingo

In this episode of The Buyer & Seller Podcast, Lucas and Luna break down the sale of a local coffee shop chain that fetched a 200x EBITDA multiple — unheard of in the cafe world. The secret wasn't better lattes; it was a subscription model that converted casual customers into recurring revenue. They walk through the numbers: how the owner built a monthly coffee subscription with auto-brewers for offices, signed 500 accounts at $150 per month, and created a predictable cash flow stream that buyers valued at 200x. The episode explores how even traditional Main Street businesses can command tech-like multiples by shifting from transaction-based to subscription-based revenue. Lucas and Luna discuss the due diligence process, the role of churn rate in valuation, and why a buyer paid $12 million for a business that grossed only $900,000 in EBITDA. If you're selling a business or looking to buy, this episode offers a blueprint for rethinking how you package recurring revenue. #CoffeeShopSale #SubscriptionRevenue #200xEBITDA #BusinessValuation #RecurringRevenue #MainStreetBusiness #SmallBusinessExit #BusinessBrokers #EBITDAMultiple #ChurnRate #DueDiligence #OfficeCoffee #AutoBrewers #CashFlow #BusinessPodcast #FexingoBusiness #TheBuyerAndSellerPodcast #BusinessFinance Keep every episode free: buymeacoffee.com/fexingo

Lucas and Luna drill into a surprising small-business exit: a single-location gym in suburban Denver that sold for 400x EBITDA. They unpack the specific data set that drove the multiple — not just recurring membership revenue, but cohort-based retention models and lifetime value projections that private equity firms value far more than equipment or real estate. Lucas explains how the gym's owner used a simple tool called CohortFlow to track monthly churn by sign-up year, and how that data package became the deal's centrepiece. Luna asks whether the multiple is sustainable or a one-off, and they discuss the broader trend of data-driven valuations in Main Street businesses. With concrete numbers, a real buyer profile, and a clear lesson for anyone running a service business with repeat customers. #GymBusiness #BusinessBrokers #EBITDAMultiple #RecurringRevenue #RetentionData #CohortAnalysis #BusinessExit #PrivateEquity #MainStreetBusiness #Valuation #MergersAndAcquisitions #MembershipModel #FitnessIndustry #SMBMergers #DataDriven #LifetimeValue #Entrepreneurship #FexingoBusiness Keep every episode free: buymeacoffee.com/fexingo

In Episode 126 of The Buyer & Seller Podcast, Lucas and Luna break down the sale of a handyman business that achieved an astounding 700x EBITDA multiple. The key wasn't route density or recurring contracts, but a passive referral network of 50 local real estate agents who fed the business high-margin jobs. The hosts explain how the owner automated the referral system using a simple CRM integration, why buyers valued the network as a durable moat, and what this means for other service businesses. They also discuss the broader trend of 'platform-like' multiples being applied to micro-businesses with structural advantages. If you're considering selling a small business or acquiring one, this episode offers a concrete playbook for building recurring deal flow without recurring service revenue. #HandymanBusiness #BusinessSale #700xEBITDA #RecurringReferral #RealEstateAgentNetwork #MicroBusinessMoat #BusinessBroker #ExitPlanning #SellingABusiness #AcquisitionStrategy #ServiceBusiness #PassiveRevenue #CRMIntegration #BusinessPodcast #FexingoBusiness #TheBuyerAndSellerPodcast #LucasAndLuna #EBITDAMultiple Keep every episode free: buymeacoffee.com/fexingo

In this episode, Lucas and Luna analyze the sale of a specialty bakery chain that sold for a staggering 600x EBITDA. They break down how recurring revenue from corporate catering contracts and a subscription bread box program created a 'revenue moat' that buyers valued enormously. The hosts discuss the specific financial metrics, the role of customer retention data, and what this means for small business owners looking to maximize their exit multiple. A must-listen for entrepreneurs, business brokers, and anyone curious about how recurring revenue transforms valuation. #BakerySale #RecurringRevenue #BusinessValuation #EBITDAMultiple #BusinessExit #SmallBusiness #CateringContracts #SubscriptionModel #CustomerRetention #BusinessBrokers #PrivateSales #FexingoPodcast #BusinessPodcast #Finance #Entrepreneurship #ValuationMultiple #ExitStrategy #BusinessSale Keep every episode free: buymeacoffee.com/fexingo

Lucas and Luna break down the jaw-dropping sale of a commercial janitorial company that went for 400 times EBITDA. The key wasn't cleaning—it was data. By tracking labor efficiency, chemical usage, and contract renewal rates per square foot, the owner built a machine that private equity couldn't ignore. They walk through the specific metrics that drove the multiple, why recurring cleaning contracts are basically annuities, and how a simple change in reporting transformed the business from a services company into a data play. Along the way, they discuss why buyers are paying premiums for predictable revenue streams in 2026, and what the janitorial market tells us about the broader trend toward service-as-software valuations. This is a masterclass in how operational data creates exit value. #JanitorialBusiness #CommercialCleaning #EBITDAMultiple #BusinessExit #RecurringRevenue #PrivateEquity #ServiceBusiness #DataDriven #BusinessBroker #Valuation #CleaningIndustry #OperationalData #BusinessSale #FexingoBusiness #BusinessPodcast #BuyerAndSellerPodcast #ExitStrategy #SmallBusiness Keep every episode free: buymeacoffee.com/fexingo

In this episode, Lucas and Luna break down the surprising sale of a small pest control company in Phoenix that closed at an eye-popping 500x EBITDA multiple. They explore how recurring service contracts, route density, and the shift from transactional to subscription-based revenue transformed a modest exterminator into a premium acquisition target. Using concrete numbers and real-world dynamics, they explain why buyers are willing to pay a decade's worth of earnings for businesses with predictable cash flows. The discussion also covers the role of contract retention rates, the economics of route optimization, and what this deal signals for other service-based businesses looking to exit. If you've ever wondered what makes a small business command a massive multiple, this episode is for you. #PestControl #BusinessBrokers #BusinessExits #MergersAndAcquisitions #RecurringRevenue #EBITDAMultiple #SmallBusinessSale #PhoenixBusiness #ServiceBusiness #RouteDensity #SubscriptionRevenue #BusinessValuation #AcquisitionTarget #FexingoBusiness #BusinessPodcast #TheBuyerAndSellerPodcast #ExitStrategy #PrivateSales Keep every episode free: buymeacoffee.com/fexingo

In this episode, Lucas and Luna dissect the sale of a small landscaping company that achieved a stunning 300x EBITDA multiple. The key was converting one-off customers into recurring maintenance contracts with multi-year commitments. They walk through the exact numbers: $2.1 million in revenue, $210,000 in EBITDA, and a $63 million exit. They explore how contract length, renewal rates, and customer concentration influenced the multiple. They also discuss why buyers are willing to pay a premium for recurring revenue in traditionally seasonal businesses. If you're a business owner looking to maximize your exit value, this episode offers a concrete playbook for transforming variable income into predictable cash flow. #LandscapingBusiness #BusinessExit #RecurringRevenue #EBITDAMultiple #BusinessValuation #SmallBusinessSale #MergersAndAcquisitions #BusinessBrokers #SeasonalBusiness #CustomerContracts #RevenueRecurrence #ExitStrategy #BusinessPodcast #FexingoBusiness #TheBuyerAndSellerPodcast #BusinessValuationMultiple #ServiceBusiness #PrivateSale Keep every episode free: buymeacoffee.com/fexingo

In this episode, Lucas and Luna break down the sale of a junk removal business that achieved a staggering 250x EBITDA multiple — not because of revenue growth, but because of route density data that proved the operation was nearly impossible to replicate. They walk through how the owner built a fortress of recurring contracts with commercial clients, how a private equity-backed roll-up justified the premium, and why buyers are paying astronomical multiples for businesses that combine recurring revenue with geographic moats. The hosts also discuss what makes route density such a powerful valuation driver, how it protects against competition, and why small operators should start mapping their routes today if they want to exit big. A masterclass in using operational data to command an exit multiple that most founders only dream of. #JunkRemoval #RouteDensity #BusinessExit #EBITDA #RecurringRevenue #PrivateEquity #RollUp #Valuation #SmallBusiness #Moat #Acquisition #ExitPlanning #BusinessBroker #Fexingo #FexingoBusiness #BusinessPodcast #BuyerAndSeller #DataDriven Keep every episode free: buymeacoffee.com/fexingo

In episode 120 of The Buyer & Seller Podcast, Lucas and Luna break down the sale of a single-truck mobile mechanic business in Austin, Texas, that fetched 180x EBITDA — a multiple that sounds absurd until you see the data. The key? A proprietary CRM that tracked every vehicle serviced, every recurring issue, and every referral, creating a sticky network effect that the buyer couldn't replicate. Lucas explains how the seller, a former dealership technician, built a system where customers booked routine maintenance through an app, and the business owned the relationship, not the mechanic. Luna questions whether the multiple was justified by the customer lifetime value and churn data. They also discuss how the deal was structured with an earnout tied to customer retention, and what that means for sellers who want to exit without a non-compete headache. If today's conversation moved your work forward, consider supporting the show at buy me a coffee dot com slash fexingo. #MobileMechanic #BusinessSale #EBITDA #ExitStrategy #BusinessBroker #CustomerRetention #CRM #Earnout #SmallBusiness #Austin #Mechanic #RecurringRevenue #BusinessValuation #Acquisition #FexingoBusiness #BusinessPodcast #BuyerSellerPodcast #ExitPlanning Keep every episode free: buymeacoffee.com/fexingo

In this episode, Lucas and Luna break down the sale of a commercial laundry business in Chicago that achieved a 200x EBITDA multiple. The key was a 15-year exclusive contract with a major hospital system, creating predictable, almost bond-like cash flows. They explore how contract duration, renewal clauses, and revenue stability can dramatically inflate multiples, and why buyers are willing to pay such premiums for truly recurring revenue. Lucas contrasts this with more volatile service businesses, and Luna asks whether the multiple reflects real value or just financial engineering. A must-listen for any business owner considering an exit. #CommercialLaundry #ChicagoBusiness #EBITDAMultiple #BusinessExit #RecurringRevenue #ExclusiveContracts #HospitalContract #BusinessBroker #BusinessValuation #MergersAndAcquisitions #SmallBusinessSale #PrivateEquity #CashFlowStability #BuyerPerspective #SellerTips #BusinessPodcast #FexingoBusiness #TheBuyerAndSellerPodcast Keep every episode free: buymeacoffee.com/fexingo

In this episode of The Buyer & Seller Podcast, Lucas and Luna dive into the surprising sale of a small commercial cleaning company in Cleveland that achieved a 95x EBITDA multiple. The key was route density: the business had consolidated its client base within a two-mile radius of downtown, slashing travel time and fuel costs. Lucas explains how this operational efficiency translated into premium valuation, drawing parallels to logistics and service businesses. Luna questions whether such multiples are sustainable and what buyers should look for when replicating this model. A concrete breakdown of how data-driven route optimization can transform a mundane business into a high-multiple exit. #BusinessSale #EBITDA #RouteDensity #CleaningBusiness #Valuation #SmallBusinessExit #OperationalEfficiency #BusinessBrokers #BuyerAndSellerPodcast #FexingoBusiness #BusinessPodcast #MergersAndAcquisitions #CommercialCleaning #Cleveland #Logistics #ServiceBusiness #RecurringRevenue #MultipleExpansion Keep every episode free: buymeacoffee.com/fexingo

In this episode, Lucas and Luna break down the sale of a baby-proofing business in Denver that sold for 75 times EBITDA. They walk through how the owner transformed a seasonal, project-based service into a recurring revenue machine by bundling annual safety inspections with a subscription for replacement parts like cabinet latches and outlet covers. They discuss the role of data — specifically, the percentage of homes with children under three in a given radius — and how that density data justified a premium multiple. The conversation also covers the valuation mechanics, the buyer profile (a roll-up platform specializing in home safety services), and why a business with no brand recognition and only three employees could command such a high price. Listeners will learn one concrete way to think about recurring revenue in a business that seems inherently one-off. #BabyProofing #BusinessBrokers #BusinessSale #Denver #EBITDAMultiple #ExitPlanning #FexingoBusiness #HomeServices #MergersAndAcquisitions #MultipleExpansion #Podcast #RecurringRevenue #RollUp #SafetyServices #SmallBusiness #SubscriptionModel #Valuation #BusinessPodcast Keep every episode free: buymeacoffee.com/fexingo

In episode 116 of The Buyer & Seller Podcast, Lucas and Luna unpack the surprising sale of a small-town party rental company. The buyer paid 60 times EBITDA — not because of revenue growth, but because of five years of granular peak-season booking data. Lucas walks through how the seller documented demand patterns by zip code, event type, and lead time, and how that data let the buyer optimize inventory and pricing. They also discuss why seasonal businesses often trade at higher multiples than steady-state ones, and what smaller operators can learn without hiring a data analyst. #PartyRental #BusinessBrokers #EBITDAMultiple #SeasonalBusiness #DataDriven #SmallBusinessExit #BusinessValuation #PeakSeason #InventoryOptimization #DemandData #BuyerAndSellerPodcast #FexingoBusiness #BusinessPodcast #BusinessSale #ExitPlanning #PrivateSales #EventRental #RevenueData Keep every episode free: buymeacoffee.com/fexingo

Lucas and Luna break down the sale of a small pressure washing business in suburban Atlanta that closed at 200 times EBITDA in late 2025. They walk through how the buyer—a regional facility services roll-up—valued the company not on earnings but on route density and node proximity metrics. The episode explains hub-and-spoke data modeling, why a $180,000 EBITDA business commanded a $36 million price, and what this teaches sellers about documenting operational geography. No names are used, but the numbers and logic are real. A concrete look at how route-based service businesses can attract institutional multiples when they prove density matters more than profit. #PressureWashing #BusinessSale #RouteDensity #EBITDA #MergersAndAcquisitions #SmallBusiness #ExitStrategy #BusinessBroker #FacilityServices #RollUp #DataDriven #Valuation #GeorgiaBusiness #ServiceBusiness #BusinessPodcast #FexingoBusiness #BuyerAndSeller #Podcast Keep every episode free: buymeacoffee.com/fexingo

In episode 114 of The Buyer & Seller Podcast, Lucas and Luna break down the surprising sale of a small-town hardware store that achieved a 55x EBITDA multiple. The secret wasn't recurring revenue or a tech platform—it was a creative owner-financing structure that let the buyer pay from store cash flow. Lucas explains the four-part deal: a small bank loan, seller note, earn-out tied to inventory turnover, and a percentage of future profits. They discuss why owner financing is undervalued in small business exits, how it can bridge valuation gaps, and why this store's 80-year customer relationships mattered more than growth. Luna brings data on seller-financed deals closing 40% faster on average. A must for any business owner considering an exit without a private equity buyer. #HardwareStoreSale #OwnerFinancing #SmallBusinessExit #55xEBITDA #SellerNote #EarnOut #BusinessBrokerage #MainStreetDeals #PrivateSale #CashFlowDeal #InventoryTurnover #CustomerLoyalty #BusinessValuation #FexingoBusiness #BuyerAndSellerPodcast #ExitPlanning #FamilyBusiness #DealStructure Keep every episode free: buymeacoffee.com/fexingo

In this episode of The Buyer & Seller Podcast, Lucas and Luna dissect the sale of a Midwest roofing company that achieved a staggering 130 times EBITDA multiple. The key was not recurring revenue or contracts, but a proprietary database of storm-damage roof assessments spanning a decade. Lucas explains how this 'storm data moat' attracted a national consolidator willing to pay a premium for the intelligence. Luna questions whether such data can be replicated or if it's a one-time arbitrage. They explore the rise of data-driven acquisitions in fragmented service industries, the role of weather patterns as an asset class, and what this means for small business owners looking to maximize exit value. No fluff, just the numbers and the strategy behind them. #RoofingCompanySale #130xEBITDA #StormDataMoat #BusinessValuation #DataDrivenMAndA #MidwestBusiness #ExitStrategy #RecurringData #AcquisitionMultiples #BusinessBrokers #PrivateSales #BuyerAndSellerPodcast #FexingoBusiness #BusinessPodcast #LucasAndLuna #ValuationStrategy #DataAsAsset #WeatherDataValue Keep every episode free: buymeacoffee.com/fexingo