A multi-location retail brand's owner had been thinking about selling for years but never knew where to start. We ran a 12-month exit readiness program that transformed their financials, operations, and market positioning — creating a competitive sale that set a record in their sector.
$22M
Final Sale Price
6.4x
EBITDA Multiple
3
Qualified Buyers
+41%
EBITDA Growth Pre-Sale
Illustrative example based on a real engagement. Figures are representative and anonymized to protect client confidentiality.
The client ran a 6-location specialty retail brand with $14M in revenue and a loyal customer base. The owner was 58 and wanted to exit within 18 months. When they came to us, they had received one informal valuation at 3.1x EBITDA from a regional business broker — well below what comparable businesses were trading at in M&A markets.
Our initial assessment identified four areas significantly suppressing value: unnormalized financials with heavy owner add-backs that weren't documented, two underperforming locations dragging down consolidated EBITDA, absence of any formal KPI or operational reporting that buyers could diligence, and owner-dependent operations with no second-tier management infrastructure.
All four problems were fixable. And with 12 months, we had time to fix them before going to market.
Undocumented Owner Add-Backs
$380K in personal expenses run through the business with no audit trail
Underperforming Locations
2 of 6 locations dragging consolidated EBITDA by $210K annually
No Operational Reporting
Buyers had no KPI framework to evaluate operational consistency
Owner Dependency
No documented SOPs, no GM infrastructure — all decisions went to owner
Months 1–3: Financial Clean-Up & EBITDA Normalization
Documented and substantiated all owner add-backs. Reclassified personal expenses. Restated 3 years of normalized EBITDA for buyer presentation. Closed the 2 underperforming locations after negotiating lease exits.
Months 4–6: KPI Dashboard & Operational Infrastructure
Built a per-location KPI framework tracking 11 metrics. Documented SOPs for all operational functions. Promoted internal GM and established a management layer independent of the owner.
Months 7–9: EBITDA Optimization & Buyer Package
Drove a 41% improvement in EBITDA through location rationalization, pricing optimization, and vendor renegotiation. Built the Confidential Information Memorandum (CIM) and financial data room.
Months 10–12: Competitive Sale Process
Ran a structured outreach to 24 strategic and PE buyers. Managed NDAs, management presentations, and LOIs. Facilitated 3 qualified offers. Managed diligence and closed at $22M.
The Numbers
EBITDA Before Engagement
$2.4M
EBITDA at Time of Sale (Normalized)
$3.44M
+41% improvement
Industry Average Multiple (Retail)
3.1x
Achieved Exit Multiple
6.4x EBITDA
$22M final sale price
$22M Sale Price — 2.1x Industry Average
Comparable retail businesses were selling at 3.1–3.8x; this client closed at 6.4x
EBITDA Growth: $2.4M → $3.44M (+41%)
Driven by location rationalization, pricing, and vendor restructuring
3 Qualified Buyers — Competitive Process
Competition between buyers added ~$3.2M to the final sale price
Clean Diligence — Zero Re-trades
Fully documented financials and operations meant no price cuts after diligence
Client Outcome
"I had one informal offer at 3.1x that I almost accepted out of frustration. GoGrowthAdvisors told me to wait. Twelve months later I closed at 6.4x — that's $10M more than I would have taken. The advisory fee paid for itself 100 times over."
— Founder & Owner, Specialty Retail Brand (8 years, 6 locations)
The prep work you do now determines the multiple you get at the table. Start the conversation.
