The framework
The Trifecta. 3 + 3 + 3.
Three to open. Three in the middle. Three to close.
This is the framework working brokers use to run a seller meeting without fumbling. Walk in unprepared and you leave without an engagement. Walk in with the Trifecta and you control the room.
Three things to nail when you walk in
- 1Establish the price floor
Anchor the seller on the realistic SDE/EBITDA multiple range for their industry — before they tell you what they think it's worth.
Why: Sellers walk in with a number. Until you anchor them on the real industry range, every other conversation is fighting that number.
- 2Surface the lever
Find the single biggest value driver in their industry and ask whether they have it. Recurring revenue, fleet, licensure, contracts.
Why: There is one lever per industry that moves the multiple by 1.0x or more. If they have it, you price up. If they don't, you have a 90-day fix project before listing.
- 3Plant the landmine
Name the top deal-killer for their industry out loud in the first 15 minutes. Watch their face.
Why: The deal-killer always comes out — the only question is whether it kills your LOI or your kitchen-table meeting. Surface it on day one and you save 60 days.
Three things to confirm before you talk terms
- 1Confirm SDE quality
Walk the addbacks line by line. Owner comp, personal vehicles, family payroll, real estate rent, one-time legal. Get the seller to sign off on each one.
Why: If addbacks aren't clean, the QofE will gut your multiple at LOI. Get this clean BEFORE you talk price.
- 2Map the transition
Who runs this business in 6 months without the seller? Identify the #2, the customer relationships, the licensure path. If there is no answer, the answer is a seller-financed earnout.
Why: Buyers pay for transferability. If the seller is the business, your multiple cap is 3.5x — period.
- 3Frame the structure
Cash at close, seller note, earnout, real estate. Float a working structure based on what the seller actually needs (retirement, health, partner buyout) — not what they say they want.
Why: Sellers say 'all cash.' What they need is liquidity for a specific reason. Solve the reason and the structure writes itself.
Three things to lock before the meeting ends
- 1Surface the hidden landmine
Customer concentration above 30%? Pending lawsuit? Lease running out in 18 months? Owner-only license? Ask directly. Get it on the table.
Why: What kills deals at LOI is what the seller didn't disclose at the kitchen table. Force the conversation now or pay for it later.
- 2Set the broker engagement
If the business is fixable in 90 days, sell them the fix engagement BEFORE the listing. If it's listable today, lock the listing agreement before you walk out.
Why: Brokers who walk out without a signed agreement come back to find the seller talking to three other brokers. Close the engagement at the table.
- 3Schedule the next move
Calendar invite for the QofE call, the valuation review, or the fix kickoff. Specific date. Specific time. Sent before you leave the parking lot.
Why: Momentum dies between meetings. A scheduled next step is the difference between a closed deal and a polite ghosting.
Free preview · 2 industries
How it actually plays at the kitchen table
Two full walkthroughs, free. The other 48 industries — including roofing, electrical, landscaping, dental, restaurants, and 43 more — unlock with a Collective membership.
Free walkthrough
HVAC contractor
- 1.Anchor: HVAC trades at 2.5–4.5x SDE / 4.0–7.0x EBITDA. Ask what they think it's worth, then plant the range.
- 2.Lever: Recurring service-agreement revenue. Ask 'what % of revenue is on a maintenance plan?' Above 30% = price up. Below 10% = 90-day fix.
- 3.Landmine: Tech retention + licensure transferability. Ask 'if your top three techs walked tomorrow, what happens?' Watch the answer.
- 1.SDE quality: Personal trucks, owner's spouse on payroll, fuel cards. Walk every line.
- 2.Transition: Is the master license in the seller's name only, or does a manager hold one? This is the #1 HVAC deal-killer.
- 3.Structure: HVAC sellers usually need cash for retirement; build 70/20/10 (cash/seller note/earnout) tied to first-year service-revenue retention.
- 1.Hidden landmine: Pending warranty work + open service tickets. Ask for the open ticket list.
- 2.Engagement: If service contracts are below 15%, sell a 90-day plan-conversion engagement before listing.
- 3.Next move: QofE intro call within 7 days. Calendar before walking out.
Free walkthrough
Plumbing contractor
- 1.Anchor: Plumbing trades at 2.0–4.0x SDE / 3.5–6.0x EBITDA. Lower than HVAC, with more concentration risk.
- 2.Lever: Commercial recurring vs. residential one-time. Commercial backlog is the value driver.
- 3.Landmine: Owner-as-master-plumber. If the license walks with the seller, the business doesn't transfer.
- 1.SDE quality: Truck depreciation, family on payroll, jobsite cash. Plumbing books are notoriously messy.
- 2.Transition: Does the seller hold the master plumber license alone, or is there a journeyman with a path to master? This is the deal.
- 3.Structure: Earnout tied to 12-month commercial-customer retention is standard. 60/20/20 cash/note/earnout.
- 1.Hidden landmine: Open warranty + lien exposure. Ask for the lien report.
- 2.Engagement: If license transferability is fragile, sell the seller a 6-month manager-promotion engagement before listing.
- 3.Next move: License-transfer attorney intro within 14 days.
Members only · 48 more industries
The Collective unlocks the other 48
Every industry has its own Trifecta. Roofers anchor differently than plumbers. Restaurants close on different landmines than dental practices. Members get the full 50.
$25/mo. Cancel anytime.