Latest / The Buyer & Seller Podcast with Fexingo: Business Brokers, Exits, and Private Sales Explained
How a Bike Shop Sold at 25x EBITDA with No Revenue
In Episode 100, Lucas and Luna break down a counterintuitive deal: a custom bicycle workshop in Portland that sold for 25x EBITDA despite having zero recurring revenue, no contracts, and no digital moat. The buyer paid a premium not for the numbers on the spreadsheet, but for the tacit knowledge embedded in the owner's hands and the brand's cult following. Lucas explains how 'human capital multiples' work in asset-light service businesses — and why some buyers will pay more for a master craftsman's brain than for a software subscription.
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The skinny
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