Customer Concentration: If a single HOA or commercial client accounts for more than 20% of your total revenue, a buyer will likely lower the multiple due to the risk of that one client leaving [1.1, 1.5].
Route Density: In Tampa, “windshield time” is a profit killer. A business with high route density (many clients in one neighborhood like Westchase or South Tampa) is worth more than one with accounts scattered across the county [4.2].
Equipment Condition: Buyers will conduct a detailed equipment assessment. If the fleet is aging (average 7+ years), expect a lower multiple as the buyer will need to invest in new zero-turn mowers and trucks immediately [1.5, 4.4].
Owner Involvement: A “lifestyle” business where the owner is on a mower every day is worth less than a “managed” business with clear crew leads and SOPs [4.5].