Listings / Gloucester, MA
Sample listingNAICS 424460SBA 7(a) flaggedSeller financing
Cape Ann Seafood Exchange
A Gloucester wholesaler. High revenue, modest discretionary earnings, working capital matters.
Wholesale distribution · Essex County · est. 1981
Sample listing. Fictional. Not an offer to sell a real business.
Sample listing. Fictional seafood wholesale. Do not read the revenue line as the value of the company.
- Working-capital peg required
- Dock relationships
- Thin margins
Valuation context
An estimate from the illustrative Wholesale distribution SDE band (Band source: NewHands teaching assumption — illustrative planning range, not a market transaction comp dataset), not an appraisal. Customer concentration was not on the listing, so that adjustment was left at zero.
Low
$1,512,000
Midpoint
$1,890,000
High
$2,376,000
Asking price is $140,000 below the midpoint estimate (3.24× trailing SDE).
- Start with the illustrative Wholesale distribution SDE band (NewHands teaching assumption): 2.80× to 4.40×, midpoint 3.50×.
- Apply disclosed adjustments totaling +0.00 to each end of the band, then floor the multiple at 0.80×.
- Multiply seller's discretionary earnings of 540,000 by the adjusted band. That is the business value, not the real estate.
- Real estate is not included, so nothing is added after the multiple.