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Three-year trend analysis
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The complete Business Hunter intelligence report for Coastal Ridge Coffee Roasters — all six sections, every number, one page.

Coastal Ridge Coffee Roasters
Specialty Roaster & Retailer · Coastal Devon · 11 Years Trading
Report BH-2026-0517-A04
Issued 17 May 2026 · Valid 60 days
Prepared for M. Calloway / Calloway Holdings
TTM Revenue
£1.12M
+8.4% YoY
Adj. EBITDA
£270K
−11.6% vs stated
EBITDA Margin
24.1%
vs 18.3% median
Implied Multiple
4.24×
vs 2.8–3.3× comps
Bowman Score
68/100
12-vector weighted
Trading History
11 Yrs
Independent operator
HOLD
68 / 100
Conditional — do not LOI at ask. Reprice to £830K–£885K with wholesale earn-out. See §06.
Fair value band£0.98–1.18M
Verdict snapshot

HOLD — Do not LOI at ask. Reprice to £830K–£885K with wholesale earn-out.
Key risks: wholesale concentration (34%), EBITDA overstatement (£45K), lease expiry Aug-2027, roaster key-person dependency.

§01 — Executive Summary

Coastal Ridge is a small-batch specialty roaster on a tourist-heavy coastal main street. Wholesale book of 23 active accounts, 1,840-subscriber DTC subscription, brand recognition that survives the seller. 4.8★ across 1,247 Google reviews. The product is real. The cash flow is real.

EBITDA add-backs are overstated by ~£45K. Wholesale concentration in two accounts (same hospitality group) with a handshake pricing deal — undocumented. Not deal-breakers. Deal-repricers.

§04 — EBITDA Waterfall — Reported to Adjusted
LineReportedAdj.Hunter
TTM Revenue1,124,0001,124,000
Gross Profit696,564(8,200)690,186
↳ Consulting (recurring)+14,500(14,500)
↳ Vehicle/fuel (operational)+11,200(11,200)
↳ Legal (3-yr avg)+10,100(10,100)
Adj. EBITDA305,000(35,800)269,200
§04 — Revenue Quality — Channel Mix
ChannelRevenueGM%YoY
Retail café & roastery£493K71.2%+5.8%
Wholesale (23 accounts)£385K52.4%+14.1%
DTC subscription (1,840)£173K64.8%+22.4%
DTC one-off & events£74K65.6%+7.1%
Total TTM£1.12M61.6%+8.4%

⚠ Two restaurants in one hospitality group = £130,900 (34% of wholesale, 11.6% of total revenue). No signed supply contract since 2021.

§05 — 12-Vector Bowman Score — 68/100
01 · Brand & Review Equity82
02 · Margin Quality71
03 · Lease & Premises78
04 · Financial Documentation65
05 · Customer Concentration41
06 · Owner Dependency58
07 · Growth Trajectory74
08 · Working Capital80
09 · Regulatory & Licensing69
10 · Supply Chain Resilience76
11 · Key-Person Risk (Roasting)55
12 · Local Market Defensibility64
§05 — Risk Register — The Five That Matter
HIGH
MED
R1 Wholesale concentration
34% of wholesale (11.6% total) in two accounts, one hospitality group. No written supply agreement since 2021.
→ LOI contingent on signed 24-month supply agreement. Earn-out: £75K at M18 if retained at ≥90% TTM.
MED
MED
R2 Roaster key-person risk
Owner is sole certified Q-grader and roast profile architect.
→ 90-day full-time transition + 12-month part-time at £3.2K/mo. Fund Q-grader cert (~£6.3K).
MED
HIGH
R3 Lease expiry Aug-2027
No automatic renewal clause. Coastal main-street rents up 22% in 36 months.
→ Require seller to negotiate 5-year renewal with 3% annual cap before LOI is binding.
MED
CONF.
R4 EBITDA overstatement £45,400
Add-backs do not survive operational-necessity test. True adj. EBITDA is £269,200.
→ Reprice. At 3.0× adj. EBITDA this is a £810K business, not £1.15M.
MED
LOW
R5 Single roaster bottleneck
2019 Diedrich IR-12 (12kg) only production roaster. Operating at ~84% capacity.
→ Insurable. Budget ~£22K for backup 3kg roaster in year-1 capex.
§06 — Triangulated Fair Value
EBITDA multiple — low (2.8×)£755,800
EBITDA multiple — mid (3.0×)£809,500
EBITDA multiple — high (3.3×)£890,400
Revenue multiple (0.78×)£876,900
DCF — 5-yr, WACC 14.5%£935,100
Weighted fair value£835,000
Seller asking£1,150,000
Walk-away ceiling£935,000
Target close band£830K – £885K
Opening offer£775,000
+ Earn-out (wholesale M18)+£59,000
Year-1 Cash-on-Cash31.4%
5-Year IRR~26%
EBITDA Multiple3.07–3.27×
§06B — The Playbook · Four Moves, In Order
1
WEEK 1
Bring §04 waterfall to broker first
Frame as ‘we believe in this business — these are the standard QoE adjustments any buyer’s accountant will surface.’ Sets the anchor at £810K without making it personal. Decline to sign an LOI at ask.
2
WEEK 2–3
Condition LOI on three items
(a) Signed 24-month wholesale supply agreement with both hospitality-group accounts. (b) Executed lease renewal through 2032 with 3% annual cap. (c) Owner transition — 90 days full-time + 12 months part-time.
3
WEEK 3–4
Structure the earn-out
£75K payable month 18 if both anchor wholesale accounts retained at ≥90% TTM volume. 6.9% bump on close price — costs nothing if you keep the accounts. Transfers concentration risk back to seller.
4
WEEK 5+
Engage QoE + fund year-1 capex
After price agreement, retain regional firm (~£14–19K) for formal QoE. Budget £50K year-1: £28K working capital buffer, £6.3K Q-grader cert for lead roaster, £16K backup 3kg roaster.
Report ID: BH-2026-0517-A04 · Bowman Methodology™ V3.2 · 12 Vectors · 47 Signals · 6 Data Tiers · HunterSuite.tech
How we compare

Faster. Cheaper. More thorough.

Business HunterDo It YourselfAccounting FirmFiverr / Freelance
Turnaround timeDays to weeks4–8 weeks3–5 days
Quality of Earnings (QoE)If you know howYes — at costRarely
Sector benchmark comparisonIf you have the dataYesUsually not
3-year trend with chartsManual buildIncludedVariable
12-vector risk matrixIf you rememberIncludedRarely structured
Questions for the sellerYour judgmentIncludedVariable
Formal DD briefing noteN/AThey write itNo
CostYour weekend£8,000–£25,000£300–£1,500

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