$1.34M Sales Multi-Location Funeral & Care Services in Iowa

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by an intermediary
in Addison, TX, USA

1mo ago

SEEKING BUYER

2 buyers interested

$1.34M Sales Multi-Location Funeral & Care Services in Iowa

Business Services · Iowa, USA

revenue: $1,316,408

ebitda: $285,914

Exclusivity:

Exclusive Representation

SBA Eligiblity:

Eligible

Revenue:

$1,316,408

EBITDA:

$285,914

OVERVIEW Serving as the funeral and cremation provider since 1958, this firm maintains a dominant competitive position. The business operates a model across five strategically located facilities. $3.8 Million property will be sold alongside the business. These locations are situated within a tight geographic radius, ensuring logistics efficiency and deep market saturation for end-of-life services. With an experienced staff capable of independent operation, the company represents a turnkey opportunity for strategic expansion. OPERATIONS & REACH • 5 locations in a close vicinity • 70-year funeral market leadership • Recession-resistant industry model • Experienced, independent staff GROWTH OPPORTUNITIES • Expand pre-planning service sales • Digital marketing and SEO upside • Untapped regional bolt-on potential • Enhance personalized memorial items

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reply by an intermediary 1mo ago
in Raleigh, NC, USA

^redacted‌ - do you think including RE in multiple ranges is like telling a home buyer "a good deal is buying for less than $100/sqft"? The problem is that its an oversimplification of valuation that sounds good but misses a lot of factors. Even if the EV is overvalued, I would never oversimplify the value of RE based on EBITDA multiple ranges. I do agree that in an industry like funeral homes, several KPIs are driven by factors tied to the RE but since there are others not tied to the RE, I'd say seperate valuations for EV and RE is warranted.‌

reply by a searcher 1mo ago
from Wayne State University in Linden, MI 48451, USA

I never said you can not value the R.E. separately, I gave the normal industry multiples and they include the R.E. Sometimes we find the R.E. by itself is worth more on its own, than as an ongoing funeral home, in that case, the owner has to make a decision. Maximize their retirement and sell it as R.E., or sell it at price that allows a buyer to service the debt and earn a living. Is it simple to use multiples, yeah, but it also allows one to quickly review a deal and decide to look into it further or pass and move on to the next opportunity. Your example of a residential house is kind of apples to oranges, as people need a place to live, but they don't have to buy a business, but even still a buyer would still have to qualify for a mortgage based on their income, unless that are paying cash than they can do whatever they want. Would you agree that a business needs to cover its debt service? In this case, they are stating the R.E. is worth $3.8 million, and they want $900,000 for the business. So, they are claiming a total enterprise value of $4,700,000. They also state the EBITDA was $285,000 inredactedLet's do some quick math based on using an SBA loan for 90% of enterprise value. We can use a 25 year Amortization since the R.E. makes up more than 51% of the deal, and likely a 9% interest rate. So, $4,230,000 at 9% over 25, give a monthly payment of $35,498 so the annual debt service would be about $425,976. You have an EBITDA of $285,000 to cover the debt, so it is not a viable deal as an ongoing funeral business using debt. If the R.E. is worth $3.8 the seller should sell the real estate for another use, as the funeral business can not support that amount of debt and sell the operating business to a local competitor. Not to mention, there are several other funeral homes currently available at the multiples I quoted and many more coming on the market as the owners are aging out.