This is a perfect example of where EBITDA is a misleading figure. Subtract anticipated capital expenditures to get a better idea of your cash flow.

Also, there’s a good chance you need to have some kind of design background given what this business does and its size.

I ran across this video recently that might be applicable. https://youtu.be/n86RxuaaOdE

ignore the big title of the video. He made some good points on how residential home buyers really make a decision to buy the home online and walking the place is less important. Additionally he builds out some of the market you are looking at; ie virtual walk through versus guided tour video.

Also, I would push on the customer list. If the business has contracts with a large local/regional real estate agent firm then maybe you can argue reoccurring revenues from an exclusivity standpoint. If they don’t have agreements of exclusivity with real estate agents then it feels like a one-time decision by sellers via the internet.

watch out for disruption with a Virtual staging consultants. check this out: https://3dstagers.com

Hey Marc, my wife is a Real Estate agent in FL and she is slowly getting into the staging business, however, I am trying to keep her out of it. In my wife's situation, it makes sense for her as an added service to her selling customers. The cons to me are the need for storage (big) and transportation back and forth of the furniture; virtual staging is becoming better. Feel free to reach out if interested in discussing more details with my wife.