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Fast Food / QSR (independent + franchise)

The 3 anchors. Don't leave the meeting without them.

1THE PRICE
1.5x–2.83x (Peak Business Valuation Aug 2025); franchise units command higher multiples than independents; QSR Magazine notes 2024 M&A activity up 10%+ YOY to $9.6B in deal value
Typical deal: $250K–$500K (independent); franchise units $400K–$1.5M depending on brand
2THE LEVER
Brand recognition and franchise system strength
Push this up, multiple goes up
3THE LANDMINE
Declining same-store sales
Surface this in the first 15 min
SDE multiple
1.5x–2.83x (Peak Business Valuation Aug 2025); franchise units command higher multiples than independents; QSR Magazine notes 2024 M&A activity up 10%+ YOY to $9.6B in deal value
EBITDA multiple
3.34x–4.25x (Peak Business Valuation); multi-unit franchise platforms 5x–8x+ EBITDA for institutional buyers; Auxo Capital notes QSR/drive-thru concepts command the strongest restaurant EBITDA multiples due to throughput efficiency
Deal size range
$100K – $5M+ (multi-unit franchise groups; institutional buyers pay EBITDA multiples)
OPEN

Open the meeting

Three things to nail in the first 10 minutes.

  1. 1

    QSR independents trade at 1.5x–2.83x SDE; franchise units command higher multiples due to brand and financing availability.

  2. 2

    EBITDA multiples of 3.34x–4.25x; multi-unit franchise groups reach 5x–8x+ for institutional buyers.

  3. 3

    Revenue multiples of 0.27x–0.54x — throughput efficiency and drive-thru capability are premium drivers.

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