02 Due Diligence
Look deeper. Decide better.
A P&L describes a business. It rarely explains one.
02 Beneath the surface
A business is notone layer deep.
What is presented
How it actually runs
Where the money comes from
What survives a change of owner
The deck, the headline multiple, the trailing twelve months. Where diligence starts, not where it ends.
Rotas, covers, waste, supply. Whether the margin is designed or whether it is being held together by a few people.
Unit economics site by site, not by average. Which parts of the estate are carrying the rest.
Knowledge, relationships and standards that live in the business rather than in one person’s head.
-
01
What is presented
The deck, the headline multiple, the trailing twelve months. Where diligence starts, not where it ends.
-
02
How it actually runs
Rotas, covers, waste, supply. Whether the margin is designed or whether it is being held together by a few people.
-
03
Where the money comes from
Unit economics site by site, not by average. Which parts of the estate are carrying the rest.
-
04
What survives a change of owner
Knowledge, relationships and standards that live in the business rather than in one person’s head.
03 How we read it
Four lenses on the same business.
01 / 04
Whether the operating model produces the result, or a handful of exceptional sites do.
02 / 04
Where margin is genuinely made, and which assumptions the plan is resting on.
03 / 04
Whether the proposition travels to a new site, a new city, or a new owner.
04 / 04
What the next ten sites would require that the last ten did not.
The lenses describe what an engagement examines. They are not findings, and no client engagement is represented here.
- Commercial and operational diligence workplan
- Operating-risk register
- Brand scalability assessment
- Value-creation observations
Illustrative only. Due Diligence is named as a pillar on the current website; detailed scope must be confirmed with YSF Advisory before publication.
11 — Start a conversation
Let’s shape what’s next.
Tell us what is forcing the decision, and by when.