TT, there are two types of investors on this thread:
- Those who bought an F&B business at a 35x sales multiple ($2m annualised revenue at a $70m valuation, in 2018/2019) and
- Those who are buying at a 0.37x sales multiple ($80m annualised revenue at a $30m EV, in 2022)
This, unfortunately, encapsulates why the discussion is so painful.