Underwritten
Edition No. 7 · No. 08 · the annex · Free edition

Custom blinds & window treatments

Lincoln County, NE · name withheld in the free edition Why no names?

PROCEED WITH CONDITIONSProceed, with two conditions.Dearer than 52% of 25 similar businesses.
Asking price$98kas listed
Revenue$360kas listed
SDE$138kas listed, a 38% margin
If a manager runs it-$7kto$127kour rebuild, about 5 hrs a week
Hours with a manager~5 hrsa week, our estimate
Price over SDE0.7xsimilar listings: 0.6x
Contents

1What you're buying

  1. Curtains, shades and blinds, measured in your living room.

    Since 1996 around Columbus, Nebraska: the owner drives out, measures, helps choose, quotes and orders. One subcontractor installs everything.

  2. One person is the whole revenue engine.

    Every client-facing task runs through the retiring owner, on part-time hours the listing never states. Her replacement is priced at $54,280 a year.

  3. Thirty years old, sold anonymously, with the county wrong on the listing.

    The aggregator says Lincoln County; the broker's own page says Columbus, sixty-mile radius. The discrepancies do not stop at geography.

2Two ways to own it

If you run it
$27kto$160k
~25 hrs / week · your own week, our estimate
Someone else runs it
-$7kto$127k
~5 hrs / week · after paying a $34k manager
Straddles the question: at the conservative end the business does not pay a manager.

There is no manager case worth marketing here: on our conservative view, earnings after pricing the owner's $54,280 seat are negative. The two ways collapse into one, you do the owner's job, roughly 25 hours a week on our build, and the seat price exists to show what those hours are worth.

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

3What the listing doesn't tell you

  1. The broker's own site lists this business $33,000 cheaper.

    $65,000 against the aggregator's $98,000, with different revenue and profit figures too. That reconciliation is the whole negotiation.

  2. Who actually runs it, and on what hours.

    A retiring owner who personally measures, quotes and orders every job, part-time, with one subcontractor installing everything. The handover is the deal.

Two of 5 findings. The rest are in the full file.

4The price and the verdict

0.7x the seller's SDE; the middle of similar listings is 0.6x.

Based on asking prices, not completed sales.

PROCEED WITH CONDITIONS2 conditions before an offer

+In the full file

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

The 2 conditions before an 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

The name, the two conditions, and the questions for the broker.

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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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