Week 4
Price Is Cheap. Structure Is Expensive.
In Main Street deals, the real economics live in structure: debt service, seller paper, working capital, tax treatment, indemnity collectability, holdbacks, and transition obligations.
Whether the sticker price feels fair is determined by whether the structure forces the buyer to fund hidden strain after closing with personal liquidity, operational concessions, or avoidable stress.
Search for the Failure First
In Main Street deals, the real economics live in structure: debt service, seller paper, working capital, tax treatment, indemnity collectability, holdbacks, and transition obligations.
Whether the sticker price feels fair is determined by whether the structure forces the buyer to fund hidden strain after closing with personal liquidity, operational concessions, or avoidable stress.