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Mike Warren

Mike Warren · 35+ yrs PE · $1B+ analyzed · 3 PE firms · 7× bestselling author

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This Week's Issue — Live Sample
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Commercial Cleaning Co. — Southeast U.S.
Asking $1,050,000
⚠ 3/5 — Conditional Pass
⚑ Working Capital Flag
DSCR
2.27x
PASS ✓
Multiple
3.28x
FAIL ✗
Cash Flow
$113K
PASS ✓
Working Cap
~1mo
FAIL ✗
Stress Test
1.81x
PASS ✓

On paper this looks textbook — 18-year commercial cleaning company, 35 employees, steady contracts, retiring owner. Revenue $1.48M, cash flow $320K, asking $1.05M. Three of five Bulletproof metrics pass clean.

But here's where I hit the brakes.

"Four weeks of working capital on a 35-person payroll — one missed contract payment and you're covering wages out of pocket."

My counter: reduce price to $800K (2.5× adjusted SDE) with seller providing 3 months working capital holdback at closing.

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buyersbrief.biz · Your Email Inbox
MW
Mike Warren · The Buyer's Brief
🔒 Cleaning Co · $1.05M Ask · 3/5 Score — Here's Why I'd Negotiate Hard (Plus My Exact Counter)
I found a working capital trap hiding behind steady contract revenue. Four weeks of reserves on a 35-person payroll — one missed payment and you're covering wages out of pocket. Here's what I'd counter…
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