Acquisitions Anonymous - #1 for business buying, selling and operating - $3.2M for a Dog Grooming Business?!

Episode Date: March 10, 2026

In this episode, the hosts analyze a $2M revenue mobile dog grooming franchise on Long Island and debate whether strong margins and recurring revenue justify the premium price—especially after franchise fees and fleet CapEx.Business Listing – https://www.bizbuysell.com/business-opportunity/8-years-open-operating-and-profitable-franchisor-s-founding-location/2444631/Welcome to Acquisitions Anonymous – the #1 podcast for small business M&A. Every week, we break down businesses for sale and talk about buying, operating, and growing them.Looking to build a professional website in minutes? Try Wix: https://wix.pxf.io/c/6898629/3115214/25616?trafcat=templateHubSpot is the backbone for how businesses scale without chaos. Try them out here: https://go.try-hubspot.com/OeG9Vr💰 Sponsored by:Tonnesen Accounting Services - Tonnesen provides full quality of earnings reports trusted by buyers, lenders, and brokers on over $500 million in deals each year. Fast, detailed, and affordable. Visit tonnesenaccountingservices.com or connect with Josh Tonnesen on LinkedIn for a free consult.Acquisition Lab – Your fast-track to business ownership. Get hands-on support, world-class resources, and join a top-tier community of acquisition entrepreneurs. Schedule your free consultation at https://www.acquisitionlab.com and mention Acquisitions Anonymous!This week, the hosts, and franchise expert Connor Groce break down an intriguing pet services deal: a mobile dog grooming franchise covering all of Long Island, New York. The business generates $2.1M in revenue with a stated $744K EBITDA and is asking $3.2M. It operates 13 fully outfitted grooming vans and serves Nassau and Suffolk counties—no storefront required. As the founding location of the franchise system, it also comes with brand credibility and operational systems built over eight years.Key Highlights:- $2.1M revenue, $744K stated EBITDA, $3.2M asking price- 13 mobile grooming vans serving Long Island territory- Franchise royalty adjustment likely reduces true cash flow- Customer loyalty risk tied to individual groomers- SBA loan likely viable—but franchise approval and bank underwriting matterSubscribe to weekly our Newsletter and get curated deals in your inboxAdvertise with us by clicking here Do you love Acquanon and want to see our smiling faces? Subscribe to our Youtube channel. Do you enjoy our content? Rate our show! Follow us on Twitter @acquanon Learnings about small business acquisitions and operations. For inquiries or suggestions, email us at [e-mail]

Hey, everybody. Welcome back to another episode of Acquisitions Anonymous, the internet's number one podcast on small business M&A. I'm Mills Snell, one of your co-host, joined today by Heather Anderson from Vizzo Capital and Connor Gross, who is our go-to franchise expert. We talk about a really interesting business today. It's a mobile dog grooming business in New York area, Long Island, 13 trucks, $3.2 million asking price, $2 million in revenue. The business has a lot to like, relatively asset light. There is an interesting dynamic with franchisor carvout. There's a lot that we discuss, a lot of great expertise that's brought to bear. Hope you enjoy the episode. Stick around after a quick word from our sponsors.

Hello, another episode of Acquisition Anonymous. We don't have 100% beers anymore. And thumbs downing on just the plus inventory line. Hey, Michael here. This episode is brought to you by, Toninson Accounting Services, the leading provider of quality of earnings reports for small and mid-sized business deals. Every year, their team reviews over $500 million in transactions, and the reports are trusted by buyers, bankers, sellers, and brokers nationwide. What sets Toninson

accounting services apart is premium quality work at an unmatched price, a full quality of earnings report for just $6,000. You'll get more depth and insight than firms who charge twice as much, which is why so many dealmakers turn to Toninson accounting services when accuracy and speed matter the most. There's a link to Toninsonaccounting Services.com in the show notes or reach out to Josh Toninson on LinkedIn for a free consultation, where he'll walk you through the process step by step and answer any questions that you have. Tell them that Acquisitions Anonymous sent you. Welcome back, you guys. The conversation prior to hitting record is always the best, but we were rapid fire sending deals to Connor like, hey, what about

this franchise? What about this franchise? What about this franchise? does. And so we have a really good candidate today that I've never looked at, but I do, I would be a consumer for this business. So that always like really, you know, piques my interest. I would too. Cool. Yeah. I have, well, I'll tell you about my consumer experience in this business. And I'll tell you why I'm no longer a customer. But the business that we're talking about is a, the headline is eight years open, operating and profitable franchisors founding location. This is a mobile dog grooming business. And so the asking price is $3.2 million.

It disclosed gross revenue about $2.1, EBITDA, 744K. And then it does say the sale is pending. But the details are this is an open and operating and highly profitable mobile grooming business. The exclusive territory is all of Long Island, New York. That includes Nassau and Suffolk counties. This is the founding location of the fastest growing luxury mobile pet grooming franchise in the country. We started with one van and built a multi-state operation with a model that consistently drives strong revenue in every market. Demand is off the charts. Clients wait for their

pets to be serviced by us because our experience, brand, and quality are a level above anything else on the road. No storefront, no heavy staff. One mobile grooming van can generate serious income with recurring loyal clients. It's simple to run and built for real profitability. We cracked the hardest code in the mobile grooming world and the grooming world, and that's hiring. Franchise owners plug directly into our private groomer network, recruiting tools, training systems, and proven operational blueprint. They are not guessing. They are guided.

Acquiring the founding location of our franchise is more than just running an established business. It's about growing a thriving, scalable enterprise in a booming industry. So they disclose a million dollars of FF&E, 14 full-time employees, no real estate, I mean, it's 13 mobile grooming vans. That's a lot. That is a lot. Yeah, and we can come back to that because that is a lot.

But the reason that they sell, they say they're selling is the founding location is being sold to focus on building the franchise system, which is interesting. But, yeah, 13 vehicles is a lot. And that's on $2.1 million in revenue. So in roofing, just as a counterpoint, like what's a reasonable revenue per vehicle? It's so tricky because it depends on if it's residential or car. commercial and like I I run 10 man crews in two trucks. So it's not really the same model as like an HVAC like two guys in a truck, you know, doing service calls. I know my window cleaning franchise that I used to own. Like we could do 250K of revenue per truck like, yeah, or per van rather.

The metric for service on on the like repair side for commercial roofing, and this is a wide gap, but it should be somewhere between 350 and 450,000 for a service crew per year. So this is relatively low. And we don't know from a capacity standpoint how full they are, but if it's at 13, my guess is they wouldn't have been adding those incremental vehicles if they didn't have the need for it. So that is interesting. I've seen numbers with some of the that have been able to get north of 200 in revenue per vehicle. So, yeah, operating over capacity. but we don't know that.

So it's not uncommon for a franchisor to sell corporate-owned locations, but what about like the what about like the Hallmark location? That seems kind of interesting. Well, and I get the question a lot. Like, do you, is it a good thing if a franchisor owns locations themselves? And there's actually, I think there's two angles to this. First of all, I do think that there's something to be said for them, you know, having their capital at risk on that side of the table and that clearly they can use that,

you know, as a guinea pig and they're learning. And I've also seen situations where there are corporate-owned locations and it just, you know, it negatively impacts the organization because all of those resources, not all of them, but the resources typically then get diverted towards maximizing the enterprise and their corporate units rather than, you know, helping franchisees to build their value. So I can see both angles of it. My personal preferences, I would like to be a franchisee in a system where they're focused on being a great franchisor. So Smash My Trash, the brand that I own as an example. Like they do own one corporate location. It's mainly like a guinea pig scenario, but that's not a big picture of how they're creating value. So I don't hate this

either way, is what I'd say. I like it in that capacity when it's like a test kitchen almost, you know, And they're like, hey, before we tell you this is the way to do something, we have learned that this is the way to do something. But I feel like there's like this maturity kind of arc that a franchisor goes through where in the beginning maybe they own more. And as a percentage of total units, if you only have five units and you own two, like, okay, that makes sense. But then it seems like they should kind of focus on franchisor duties, which are very different than franchisee operations. But then what I really think is an interesting signal is when franchisors consolidate, you know, and then they start saying, hey, the economics are actually so good, we want to own a lot of these. And we'll get the franchisees out. That's happened before, you know, in a lot of cases. But, but yeah, I mean, it was founded in 2017. I think I left that out. So this is a relatively new business. I would be very interested to hear from a timing standpoint, like, why now? Can you scroll back up to the earnings of this business?

Okay, so $744,000 of EBITDA and $2.1. So I was more curious, the $2.1 million across 13 vans, what the per van revenue was. Sorry, I'm doing my math here. $161,000 a year per van. Which it's interesting to me that the vans are bought and paid for, too. Like, that's a good signal of maybe strong free cash flow, but a bad signal in terms of asset efficiency. I would think that you could lease these very efficiently, even over a, you know, or own them and amortize them over five to seven years, right?

Yeah, exactly. So, I mean, leverage would have been smart there. You know, doesn't so much matter for the buyer to come along because they would have to pay off, you know, the seller would pay off all those liens anyway. But, but maybe it is tricky for. for a new buyer to add new vans. You know, that means there's no fleet financing relationship that's already been established, and buyers are going to have to go establish that if they want to keep growing. Plus, I wonder if this is tapped out for growth in this particular territory. This is, you know, maybe that is the reason the franchisor has done all they can with their flagship territory

and just wants to hand off something that, you know, can coast along, so to speak, but maybe can't grow. Could that be the reason that they're offloading this one? Yeah. They've had it long enough. They've got up to 13 vans. I guess I suppose you could have more than that in that market. But, you know, there's other competitors out there as well.

Connor, especially because of Smash My Trash, but like, I just think about route density in something like this. Like, it is either the wind at your back, you know, and really helping you. or it kills your business operationally because you're driving two hours away to do a $50 service, and you just can't make the economics work. Yeah. Let me share my quick anecdote as a former customer of one of these. So I have two Great Danes because it goes to your point mills. But like I have two huge dogs.

They charge like by the pound. Like they don't. Yes. And so for me to have my two dogs mobile groomed, it was almost $600 for all we had. like a tip and everything in. And I spent, I added it up, I was curious. I spent over $20,000 on my dogs last year between like, you know, just a number of different things. So I'm not scared to spend money on my dogs. And I was like, you really need Bill on this episode to talk about growing consumer demand in the best space. I'm afraid to talk about my dog with Bill anymore. So, but again, even me, I was like, that is too much. And then the other thing was like, they come. your house, right? And that is what this business does. It's a van and it has a groomer in it. And they come to your house and they give your dog a bath, haircuts, whatever. That was the other thing is I was

like, Great Danes or short hair dogs. They don't need a haircut. So I understand if I'm getting too, like, you know, champion grade poodles like, you know, when they get them all hedged up perfectly and, you know, carved zigzags and I'm like, okay, that's a specialty. But this didn't make sense. But anyway, so they come to your house and they were like, they were like an hourly, which which was annoying. I had to block off my whole afternoon. Like cancel calls the whole afternoon to do this. So I'm like, I'm not getting the convenience from it. It's crazy expensive. Yeah, for me, I was not an ideal customer. So that's my quick anecdote there. Well, you're making me remember something that makes me ask the question, who owns the customer here?

And here's the reason I ask. I have also used mobile grooming services. And what happened is one of their employees clearly broke off from the business, got their own van, and started texting me. And their name of their business was almost the same. So I thought it was the same company. And I then, you know, said, sure, yeah, come by and take care of the dog. And then I realized, you know, after the second or third time that, wait a minute, they were stealing me as a customer from the original, uh, grooming van. So I also think that, I don't know how much of that goes on in this business, but it always makes me think, who owns the customer? What are the risks? And this is like, this is a business where you have a lot of affinity for the technician, the actual person doing the

grooming. Right. And no loyalty to the franchise, you know, the parent company. Um, so that is interesting. Yeah, it is interesting. If you can get a van, you can, you know, and you know who the customers are, I guess there's, there's competition from within sometimes. So it's the same dilemma that you run into with like, you know, hairstylist and stuff. You know, and stuff. You know, and you know, you know, which is why I really like the salon suite model, which we've talked about before. It would be interesting if there's a play here to do kind of a salon suite equivalent for groomers

and say if you're a groomer, you can't afford a van. You don't have the marketing infrastructure in place. We'll turn key it for you. Exactly. That could be an interesting. But I come back to is like who is the ideal customer that commands that high of a premium over for the convenience that at least for me I didn't really see. That's what I can't go. I put my

finger on. I think they're out there. I just, it would make sense if you had a spouse or someone that was home for the entire day and didn't have to block out their calendar for it. You know, and there was the added convenience. I mean, the work from home culture, I think, is what drives this a little bit too. Yeah. Yeah. It is interesting, like the, the like, pay by the pound aspect of this because I would think it's a huge advantage to you to not have to load up two Great Danes and haul them across down to the groomer, but you don't really, like you're being penalized. But it makes sense. They have to price it based on the size of dog, you know, and the amount of time that it would take for a big dog versus a small dog. I just go back to route density on this. Like, like capacity utilization is the name of the game. And if you could have a full day where you go back to back to back, and you're, you you're not having to spend, you know, inefficient, unbillable time driving. But, like, can you get that density with 13 trucks on a consistent enough basis? I guess the one thing that this business has going for it is there is hypothetically some predictability.

Like, in appliance repair, if you can't get there within 24 to 48 hours, they're moving on to the next person. So, like, you never have leads that are more than, you know, a week or two out. because at that point, like, people are just, they've moved on. At least with this, it's like, okay, hey, this is my type of dog. We're going to do it every 30, 60, 90 days or something like that. That I do like about this. Yeah, but from the route density standpoint, that's why I brought out, like, my experience when you mentioned that. Because, like, I do, I feel like it's different for something like this than it would be for like smash my trash or like a pool cleaning company or something.

Because, I mean, we go, we serve customers at three in the morning and they don't care. These are manufacturing plants. But like, I'm just talking about for myself when they were an hour late, like, it derailed my entire afternoon. And that's just the kind of stuff that happens when you're running a route. But it is particularly that really is disruptive to your customer. So I just wonder how much density plays a role if you have to build in more margin for error than you would with something that isn't quite as time sensitive, you know. Absolutely. Are you ready to take a leap into business ownership, but you don't know where to start?

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Any business in the pet space, especially dogs, I think it's going to attract a lot of buyers because they say, I have a dog. I love pets. I love, you know, I love the idea of this. So I think that, you know, it's already a pending sale. I think, you know, that's probably part of why everyone can sort of imagine themselves being able to run. a business like this, even though it's not ever going to be as easy as they might think, you know, just like we're talking about with the density of the routes and really keeping the trucks efficient. But it does seem like the type of business that would attract a lot of interested

buyers. I wonder to, like, Connor, we've talked about like vanity metrics. This seems like they're really pumping, like demand is off the charts, like people wait for us, you know, we're consistently, you know, growing revenue in every market. I don't know. There's a lot of fly. They're a franchisor. There's a franchisor. So that sounds about right. You know, that's all in the business of selling franchises, you know. Right. 100%.

I think the 744 EBITDA, what I'm curious about is, is that after you begin paying franchise fees? Because I doubt they're paying franchise fees now. They are the franchisor. So I wonder if they've, you know, not made that adjustment and what you're buying is actually going to be a little bit lower than that. Yeah. I got to, I got very, very close on buying a deal that was similar to this a few years ago. And it was my fault because I never asked. That's a pretty, like, basic thing to ask.

But they had only shared high level financials and got to the end. And I was like, oh, does this include like the royalties that I would be paid? And it had not. So it's a good question to ask. Now, I, the franchisors that I see effectively market their corporate divestagers as well, like, they know that that's like the first question that's going to ask. So they're smart if they go ahead and include it, but we don't know that here. Like if they go and normalize it, right? Yeah. But I would agree, though, on what is that? That's 35% margins, something like that. There's no way. There's no way that factors. All their franchise is he's getting 35% margins, probably not. And you're not going to either once you start paying the fees.

I doubt it. I will say this is an industry where I've seen, really strong margins. Like, you know, 20s, but not, not mid-30s. So, yeah, I mean, I think something like this makes sense for somebody that is looking for a business. They want to service business, but they don't want, they don't want to deal with blue-collar labor. Maybe they're not somebody that's super sales-oriented. I mean, there's going to be selling involved here, but it's a much more low-touch sales process than selling a roof, Mills, would you agree?

Yeah. So that's kind of the heuristic for whom I think that this kind of thing could make sense. Obviously, this is pets, kids, and seniors. Those are the three areas where if you do like the customer, you don't want to buy into this if you hate animals. So if somebody that likes animals is involved in the community and wants a service business without blue-collar labor, this can make sense for them.

Yeah, I think you're getting about five. $500,000 of cash flow after you take out the franchise fees and maintenance CAPEX. Going back to the fact that they've bought all their trucks outright, you're going to have to deduct something for maintenance CAPX for maintaining that fleet and potentially buying replacement vehicles. So I'm thinking you're getting maybe $500,000 of cash flow at the end of the day. And then, you know, $500,000 somewhat recurring revenue, I guess, with your client base. You know, it's probably a good healthy four multiple on that, maybe more. Which they're asking.

A lot more than that. They're basically asking what four and a half times of this EBIT dot number. And that would put it up closer to six and a half times. Yeah. On five. I think it's worth somewhere maybe a little bit north of two million, but not three to my mind. Which you got to think if these vans, you know, 13 vans and, I mean, just the sticker price, these are probably not minivans, right?

They're more like a sprinter van. Yeah. So it might be $75,000 vans, you know, times 13 of them. That's a million bucks right there. Yeah. And you've got to outfit it with all the equipment. Yeah. It does, I'm sure, break down after, you know, all those.

Which they do, they do list a million dollars of FF and E. So, you know, that kind of makes sense. Yeah. What do you guys think about? So obviously franchisors have VF&E. veto power over franchise transfers between an existing or, you know, a new franchisee. What do you think about in this case? They've got to be super picky about the person they pick to take over like the flagship.

Do you all have experience with franchisors stifling sales or, you know, any, like, horror stories with that? I have a good friend that we're, yeah, we're, you know, working together now on a, number of things. But it happened to him in a system where he got up to over 10 locations and they basically said, we don't want you to buy anymore, which is crazy. I mean, like, when you think about it from the franchisor's standpoint, they're getting paid off of revenue. Like, what do they have to lose by someone? You know, they're getting the same amount of revenue, but they have, you know, fewer people that they have to, you know, coordinate with. I mean, it makes, it makes no sense. But some people are wired that way. And that is the kind of thing that I would say, even if you

have no intention to get to 10 locations, you should not get into bed with a franchisor that thinks like that. Because downstream of that are a whole bunch of other things, you know, mindsets that they hold that just do not align with anybody who's wanting to scale. Yeah. And I mean, usually there's a pretty robust training program for a buyer that they've got to go through and get signed off by the franchisor before they're okay to actually buy it. And you don't necessarily get to do that training at the beginning of your process after assigned LOI. It's usually pretty deep into it. So you do take some risk getting one of these deals tied up because you've got that extra layer of approval that you've got to get through and it usually

doesn't come till late in the deal, at least the ones that I've seen. Yeah. Now, on that note-mills, it is interesting. Why are they, why is this on Biz by Self? Why did they not pick up the phone and call their high-performing franchisees in the Northeast and say we're divesting this location. Because if it was the flagship one, it would be the sexiest acquisition to any of these, to any of them, you know? I have a theory.

My theory is that in this industry, if, you know, their high growth, probably none of their franchisees are mature enough or heavy hitters enough to do an acquisition. They were okay to be a startup development territory, but they may not be mature enough to take on an acquisition at all, much less an acquisition of this size. That's my theory.

I think that's a great theory. Yeah, because I, it doesn't mean that it's not out there, but I don't know any franchisees and mobile grooming that are super at, you know, that are at scale. I just don't. And you want to be adjacent to this territory if you're going to do it, if you've never done an acquisition before. So they probably only had a few, you know, prospects to acquire within the network

and felt like it was better to go outside. Yeah. I knew some folks who, um, you know, uh, orange theory fitness concept, you know,

that they, they probably had the maturity to do it and they, they had gotten up to like, maybe somewhere between five and ten locations and stabilized them and like, it was going really well. And they kind of thought we're going to be the big fish. And then a bigger fish came along. And they were like,

well, we have 60 and we want yours because you're in the geographic area that we're moving through and they were like, okay, that sounds like a great number. Well, you know, we will go away now. You can be the big dog. And they sold to? Yeah. Really? I wonder if it was to the, it may have been to the group in the Southeast that went bankrupt after they, after they bought, because they were paying people too much money. Oh, interesting. So anyway, they would have been the beneficiary of that. But anyway, I will say, like, there are some things to like about this for the right price. Like I think if it was a, if it was, you know, in the low twos and it was appropriately price, assuming that our, you know, assumptions are correct about the adjustments that you

need to make to normalize, you know, EBDA. I mean, look, it's a recurring revenue business that tends to have pretty good margins. It's not like crazy capital intensive. I say that as somebody with $300,000 trucks. This to me seems like a very, a very asset light model. So, and obviously, you'd want to see their metrics, but I could see this being something that has pretty strong customer retention. Heather, to your earlier point, I'm wondering how much of that can be attributed to the business versus the individual. So there are things to like about this as well at the right price rate margins. Yeah. And I wonder if the buyer is getting an SBA loan just based on the size, probably so. And I think it's a good candidate. It's a nice candidate for an SBA loan.

SBA banks really want their buyers in business acquisitions to have a good resume and experience in the industry that they're buying into. But they will more easily make that exception when it's a franchise system because they're going to get a lot of support. You know, there's a lot more that comes with being part of a franchise system than if you just bought an independent business off on your own. So I think that makes it a good candidate for SBA. I mean, I'm assuming that this franchise concept is SBA approved. There is something called a SBA franchise registry. It's available online. You guys can Google it if you want.

It has an exhaustive list of every franchise that's ever presented materials to the SBA and whether they are approved or not. What it takes to be approved is pretty simple. It means the buyer owner has to have a lot of control over the business. The ones that don't get approved by SBA are the ones where the franchisor keeps undue in the SBAs. eyes control. As long as the owner has full control or enough control, they're eligible. But you check that, you make sure it's an SBA eligible franchise, and this would be a good fit for an SBA loan, I think. Do you have any specific examples of those? A 7-Eleven was never eligible as an example.

Interesting. Would people always think that they would be as a seesore that you know so well? They always had too much control. And there were like ARCO stations, I think, too. There were gas stations that did the same thing. Franchisor kept too much control, SBA wouldn't approve them. But most, they figure out that, hey, if we're a franchisor, we want to get our growth. They need to have SBA loan, so they're nice. Go to the biggest pot of money available. Yeah, exactly. Have you seen situations where franchise systems have been denied, not because of control, but just because of merit of the business model and or financial performance? Yeah, they won't be denied SBA eligibility for that reason, but they will get denied on a credit basis. So like, first, it's SBA

eligibility. Next, the bank looks at, is this a good system? Is this, you know, what stage is this franchise concept in, in terms of financeability? How solid are they? What's happening with all the other existing franchisees? And, you know, they'll make a credit decision that way. Even if the franchisor is eligible, you may find a lot of them where the banks say, no, this is too new and not a proven concept or it's not performing well and we are not going to lend. FedEx Routes was one of those. It's not exactly a franchise, but similar. A lot of banks decided they did not like the way those were running, the way that there's only a two-year agreement, has to be renewed every two years. And for a lot of reasons, banks just started steering clear of them from credit perspective.

That's kind of both. But point for the listening audience is that just because it's SBA eligible does not inherently mean that it's a good franchise. Correct. I think there are a lot more of the, yeah, a lot more of the former than the latter. So reach out to me before you sign, please. Absolutely. This was a good one. Connor, any other thoughts, Hill, before we wrap this one up?

No, I, this is one that, again, if I lived in the area and fit the profile of the right buyer, I would be interested in at the right price. Not as a customer, too expensive. Yeah, I think it checks a lot of boxes. It's in the right size profile. It's in a desirable enough area. I don't know. I mean, it's definitely worth next steps, you know.

Yeah, I think so. I like it. All right. Well, thanks, everybody. And if you enjoyed this episode, there's many, many more, hundreds more like it at acqueuanon.com. And, Connor, thanks for joining us again. where can people connect with you if they want to borrow your experience in the franchise world?

Yeah, you can find me on LinkedIn, Twitter, or Connorgris.com is my website. You can book a call there and join the newsletter. Awesome. Thanks, everybody. We'll see you next time. Thanks.