Underwritten
Menu
Edition No. 7 · No. 07 · the annex · Free edition

Meal prep & delivery kitchen

Clay County, FL · name withheld in the free edition Why no names?

DO NOT OFFERDo not offer at this price.Cheaper than 60% of 25 similar businesses.
Asking price$200kas listed
Revenue$306kas listed
EBITDA$110kas listed, a 36% margin
If a manager runs it-$54kto$59kour rebuild, about 5 hrs a week
Hours with a manager~5 hrsa week, our estimate
Price over EBITDA1.8xsimilar listings: 1.9x
Contents

1Two ways to own it

If you run it
$23kto$136k
~45 hrs / week · your own week, our estimate
Someone else runs it
-$54kto$59k
~5 hrs / week · after paying a $77k manager
Straddles the question: at the conservative end the business does not pay a manager.

Both ranges are our estimate, not the seller's figure. Each starts at its careful end.

2The price and the verdict

1.8x the seller's EBITDA; the middle of similar listings is 1.9x.

Based on asking prices, not completed sales.

DO NOT OFFER1 critical red flag - the desk would not offer

+In the full file

Premium opens these for every deal in this edition and the four before it.

Why the desk would not offerPremium

Each one written out, with what would close it before an offer.

The name and the listingPremium

Resolved by the desk to a name and an address; the original listing and the broker are in the member file. Why no names?

Questions for the brokerPremium

Written from the conditions and the open checks, in the order we would ask them.

What we could not establishPremium

What no document we found decides, and the document that would.

The model and the research trailPro

Five-year projections per basis with the downside, the scenario workbook, and every check with its evidence.

The full file

The name, why the desk would not offer, and the questions for the broker.

Premium is €24.99 a month. Cancel any time.

Get the full file

Not ready for the file?

Next Saturday's five covers by email: same numbers, same verdicts, no names.

One email a week. The covers only. Unsubscribe in one click.

1,000 listings screened, 5 published · Edition No. 7, 12 August 2026. We have no stake in whether any deal closes.

The full file€24.99 / monthGet the file