Edition No. 7 · No. 18 · the annex · Free edition

Chocolate & confections maker

Hennepin County, MN · name withheld in the free edition Why no names?

DO NOT OFFERDo not offer at this price.Dearer than 72% of 25 similar businesses.

Asking price$97kas listed

Revenue$446kas listed

SDE$23kas listed, a 5% margin

Our rebuild$33kto$199ka year, with the team already paid

Owner time~22 hrsa week, per the listing

Price over SDE4.2xsimilar listings: 2.5x

Contents

1Two ways to own it

If you run it

$33kto$199k

~22 hrs / week · your own week, our estimate

Someone else runs it

$33kto$199k

~22 hrs / week · no manager cost on our build

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

4.2x the seller's SDE; the middle of similar listings is 2.5x.

Based on asking prices, not completed sales.

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

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 original listing and the brokerPremium

We could not name this one; the member file links the listing and names the broker where the listing does.

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

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

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