Would You Bet $1.6M of Equity on This California Courier?

In this episode the hosts talk about buying a 49-year-old California courier business generating $770K in cash flow—but debate whether the 5x multiple is justified given growth limits, customer concentration risk, and potential regulatory threats to its 1099 driver model.

Business Listing – https://www.bizquest.com/business-for-sale/profitable-courier-business-for-sale-in-california/BW2474620/

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This episode dives into a long-standing courier company located on California’s Central Coast serving Ventura, Santa Barbara, and San Luis Obispo counties. The business generates approximately $2.6M in revenue and $770K in seller’s discretionary earnings, with an asking price of $3.85M (5x SDE). Its asset-light model relies on independent contractor drivers using their own vehicles, resulting in strong margins near 30% and minimal capital expenditure requirements.

Key Highlights:
- $2.6M revenue, $770K SDE, asking $3.85M (5x multiple)
- 49-year operating history with 16 years under current ownership
- Asset-light model using 1099 drivers and zero vehicle ownership
- Major risks: customer concentration, working capital timing, regulatory changes
- Likely requires ~$1.6M equity and strong seller transition support

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