Retail · NAICS 722511

Independent Restaurant Valuation Multiples (2026)

Independent restaurants are notoriously hard to sell — most close because of failure rate. The few that exit cleanly with strong brand, lease, and liquor license transfer at 0.5× revenue.

SDE multiple
1.8×
1.4–2.4×
EBITDA multiple
2.8×
2.2–3.6×
Revenue multiple
0.35×
0.25–0.5×

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Industry: Independent Restaurant · Retail

Premium drivers

  • ↑Established brand with 5+ year track record
  • ↑Strong online ratings + delivery channel mix
  • ↑Long-term favorable lease
  • ↑Liquor license transferable

Discount drivers

  • ↓Owner-as-chef dependence
  • ↓Aging kitchen equipment
  • ↓Lease near expiration
  • ↓Limited delivery / pickup capability

Who buys independent restaurant?

Operator buyer, restaurant group, or hospitality investor

Typical timeline + revenue band

  • Days to close: 60–150
  • Revenue band these multiples apply to: $500K–$2.00M
  • NAICS: 722511 (Retail)

5 levers that lift your Independent Restaurant multiple by 30-50%

  1. 1
    Lock in recurring revenue
    Convert the top of your independent restaurant revenue stack into multi-year contracts, retainers, or auto-renewing subscriptions. Buyers pay 25-40% more for revenue they don't have to re-win every quarter.
  2. 2
    De-risk customer concentration
    Aim for no single customer above 15% of revenue. If you have a > 25% client, get them on a multi-year master services agreement before going to market.
  3. 3
    Document the business out of the owner
    Operator buyer, restaurant group, or hospitality investor will discount aggressively for any function that lives in the owner's head — sales, key vendor relationships, pricing, hiring. Run the next 90 days like the owner is on a 6-week vacation.
  4. 4
    Clean up the financials
    Get a Quality of Earnings-ready trailing 12 months: GAAP-aligned, owner add-backs documented, no commingled personal expenses. This alone moves the multiple 0.5-1.0× upward in this category.
  5. 5
    Match the deal to the right buyer pool
    strategic acquirers and operator buyers compete on different terms. List with someone who has run a process for independent restaurant acquisitions — generic SMB brokers will leave 20%+ on the table.
Run the full Exit Readiness Assessment →
Personalized Independent Restaurant valuation, action plan, and ideal-buyer profile.

FAQ — Independent Restaurant valuations

What's a typical independent restaurant valuation multiple?▾

Typical independent restaurant valuations land near 1.8× SDE, 2.8× EBITDA, or 0.35× revenue. Strong operators reach 2.4× SDE / 3.6× EBITDA / 0.5× revenue, while weaker operators stay closer to 1.4× SDE / 2.2× EBITDA / 0.25× revenue.

How long does it take to sell a independent restaurant?▾

Most independent restaurant deals close in 60–150 days from listing. Strong operators with clean financials and a documented buyer pool close on the lower end.

Who buys a independent restaurant business?▾

Operator buyer, restaurant group, or hospitality investor

What pushes a independent restaurant valuation to the high end?▾

Established brand with 5+ year track record. Strong online ratings + delivery channel mix. Long-term favorable lease. Liquor license transferable.

What forces a discount when selling a independent restaurant?▾

Owner-as-chef dependence. Aging kitchen equipment. Lease near expiration. Limited delivery / pickup capability.

Other Retail categories

Franchise Restaurant
2.5× SDE · 3.5× EBITDA
Specialty Retail
2× SDE · 3× EBITDA
Convenience Store / Gas Station
2.5× SDE · 3.5× EBITDA
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