Client trainingVisited 0 of 32 modulesSample client area, Harbor Aesthetics
The value tracker
What a buyer would pay for the clinic is set by five things, and every one of them is built or broken in the years before a sale. This page tracks where the clinic stands on each and what is being built. Reviewed every quarter. Last reviewed September 2026.
Recurring revenue
BuildingUp to a full turn of multiple at 30 to 40% of revenue
- A buyer asks
- How much of next year's revenue is already committed?
- Today
- 326 members, $14,900 a month in fees, 9% of revenue. Churn under 3%.
- What we are building
- Annual prepay tier in October. Member spend per visit tracked against non-members. Target 20% of revenue by next September.
- Year three
- Membership at a third of revenue, churn under 3%.
Provider independence
Known riskHalf a turn to a full turn discount when one provider is over about 35% of revenue
- A buyer asks
- What leaves when the lead injector leaves?
- Today
- Ava at 47% of provider revenue, down from 52%. The current growth initiative.
- What we are building
- New patients routed to Provider 2. Written protocols for every treatment signed in August. A third injector when the book is full.
- Year three
- No provider above 35%. Written procedures for every routine.
Compliant structure
On trackRemoves a category of legal risk that buyers price heavily
- A buyer asks
- Can we buy this without a lawyer rewriting it?
- Today
- Physician owned. Medical director agreement rewritten in May with duties and visit frequency; good faith exam policy in place.
- What we are building
- The compliance file kept current: licenses, protocols, consents, business associate agreements.
- Year three
- A compliance file a buyer's lawyer reads in a day.
Service mix and retention
On trackReturn rate above 65% over twelve months is the benchmark
- A buyer asks
- Do patients come back on their own?
- Today
- Injectables led. Returning patients 73% of revenue; rebook 67%; back within 90 days at 60%.
- What we are building
- Rebook to 70%. Recall at day 75 automated. Filler spend shifted to biostimulators.
- Year three
- Return rate above 70%, retail on a third of visits.
Clean, accrual books
On trackThe difference between closing at the agreed price and being repriced in diligence
- A buyer asks
- Can an accountant rebuild your EBITDA from source documents?
- Today
- Six closed, reconciled months on accrual since April. Add backs documented as they happen.
- What we are building
- Every month closed by business day ten and locked. Inventory counted. The data room folder started.
- Year three
- Three years of closed months, ready for a quality of earnings review in weeks.
What one driver is worth
Harbor's adjusted EBITDA from Advanced finance 4 is $228,000. Here is what the same earnings are worth at the ranges in Advanced finance 5, depending on which of the five drivers a buyer sees.
| What a buyer sees | Multiple | Implied value |
|---|---|---|
| Owner dependent, thin documentation | 3.5x | $798,000 |
| Single location, SOPs, clean books, solid retention | 5.0x | $1,140,000 |
| Multi provider, recurring revenue, documented | 6.0x | $1,368,000 |
A scenario, not a forecast. The earnings figure is chosen to show the arithmetic. The ranges come from the 2026 advisor reports in Advanced finance 5, whose authors benefit when owners believe multiples are high. Nothing here is a promise of what any clinic will be worth.
What a buyer's accountant will ask for
Every item on this list is produced by the monthly close. In year three it is a folder, not a project.
- Three years of monthly P&Ls and balance sheets, accrual basis, reconciled
- Revenue by service line and by provider, monthly
- Membership and package data: adds, cancellations, deferred revenue roll
- Documented add backs with the invoice or payroll register behind each one
- Inventory counts and cost of services by service line
- Payroll registers, provider contracts and compensation plans
- Vendor contracts, lease, equipment loans and schedules
- Written protocols, consents and the medical director agreement
- Marketing spend by source and the funnel numbers
Why this page exists
Nate has sat on the buyer's side of these questions. The clinics that get full price are the ones that started answering them years before anyone asked. Advanced finance 6 covers the process itself.
Harbor Aesthetics is an invented clinic. Every figure is illustrative. This is what a Benchmark client area looks like.