Two outsourced executives. One internal operator. No fixed-cost creep.
YMT's growth engine is governed by two headless executive functions — Headless Marketing (YDT, led by Corrina McGowan) and Headless CFO (CoSai, led by Carla Oliver) — both engaged at fixed weekly retainers that hold flat across the entire growth cycle from $4M to $24M revenue. No internal CMO. No internal CFO. The executive layer does not scale with revenue, so margin compounds as YMT grows.
Darcy + Paul · PM × 2
Field crews
MBA · CPA · CIMA
Scope of responsibility — clean separation
YDT · Corrina McGowan
- Marketing strategy across 3 LOBs (Termite / Pools / Units)
- Website build + maintenance (ymtgroup.com.au)
- Traditional SEO across all 3 service lines
- GEO/AEO — get YMT cited in ChatGPT / Perplexity / Gemini answers
- Google Business Profile × 3 service categories
- Paid ads — LinkedIn, Google, Meta (strategy, build, optimise, report)
- Content production — service pages, case studies, blog, video briefs
- Email + CRM — nurture sequences, enquiry follow-up automation
- Review acquisition + reputation management
- Weekly Funnel 1 metrics to Gerry + Carla
CoSai · Carla Oliver
- FP&A — financial planning & analysis across all 3 LOBs
- Budgeting · annual budget + quarterly reforecasts + scenario modelling
- 13-week rolling cashflow · P&L · balance sheet projection
- GPM Governance — line-by-line GPM tracking (45% / 32% / 35%)
- Blended GPM Defence — protect 40% blended target via sales mix
- NPM Governance — $400K / $1.4M / $2.4M scenario tracking
- Pricing strategy per LOB with margin floors + elasticity testing
- Marketing ROI · CAC · LTV · channel attribution review
- Capital allocation · working capital · cashflow discipline
- Board reporting · KPI dashboard · commercial governance
Governance cadence — how the two headless teams connect
| Day | Meeting | Attendees | Output |
|---|---|---|---|
| Mon | Funnel 1 review | Gerry + Corrina (YDT) | Lead / enquiry volume vs target |
| Tue | Funnel 2 review | Gerry + Matt Grant | Quote pipeline · 24hr SLA · strike rate |
| Wed | Funnel 3 review | Gerry + Carla (CoSai) | Sales vs budget · GPM vs target · cash position |
| Thu | Cross-funnel sync | Gerry + Corrina + Carla | End-to-end cascade health |
| Fri | Weekly board snapshot | Carla → Board | 7 RED-LINE KPI dashboard |
Why the headless model wins
No fixed-cost creep at executive layer
Internal CMO + CFO salaries typically total $400K+/yr. YMT's executive layer holds at $69.6K/yr forever — defending $330K+/yr of margin every single year.
Margin compounds as revenue scales
At $4M revenue, exec fees = 1.74% of revenue. At $14M = 0.50%. At $24M = 0.29%. Revenue scales 6× while executive cost stays flat.
No succession or recruitment risk
Two senior executives already in motion, already aligned. No 6-month CFO search. No equity dilution. No onboarding lag. Day 1 productivity.
Scenario C completes the growth cycle
At $2.4M NP, YMT is either sold (8-12× EBITDA = $19M-$29M exit) or held as a cash-flowing asset paying $2.4M+/yr indefinitely. [App. 5.1]
ROI trajectory — the compounding story
| Year | Scenario | Net Profit | Executive Layer | ROI Multiple | NP per $1 of Fee |
|---|---|---|---|---|---|
| Y1 | A · Foundation | $400,000 | $69,600 | 5.7× | $5.74 |
| Y2 | B · Acceleration | $1,400,000 | $69,600 | 20.1× | $20.11 |
| Y3 | C · Destination | $2,400,000 | $69,600 | 34.5× | $34.48 |
| 3-YEAR TOTAL | $4,200,000 | $208,800 | 20.1× | $20.11 | |
Reads: Over a 3-year growth cycle from $4M to $24M revenue, the two headless executives deliver $4.2M cumulative net profit for a total fee outlay of $208,800 — a 20× return on the executive layer across the full cycle. This is the story for the Board.
Marketing feeds Estimating. Estimating feeds Financial.
Three funnels stacked vertically. Each one owned by a different function. Each one has its own scope-of-responsibility band, its own RED-LINE KPI, and its own benchmark-anchored target. Together they form a single mathematical cascade from impression to net profit.
Marketing Funnel
Estimating Funnel
Financial Funnel
Architectural note: Each funnel is owned by a different function. Each function reports its own RED-LINE KPI weekly. No funnel is allowed to optimise at the expense of another — that's CoSai's cross-funnel governance role on Thursdays.
Reverse-engineered cascades. $400K → $1.4M → $2.4M.
Three scenarios — Foundation, Acceleration, Destination. Each one is mathematically derived backwards from a net profit target, through the financial funnel, into the estimating funnel, into the marketing funnel. Every number reconciles to the next.The headless executive layer stays at $1,400/week across all three.
Scenario A
| Net Profit Target | $400K |
| Revenue (@10% NPM) | $4.0M |
| Gross Profit (@40% GPM) | $1.6M |
| Weekly Revenue | $83K/wk |
| Funnel 2 — Estimating | |
| Quotes Won / wk | 4 |
| Avg Job Value | $21K |
| Strike Rate | 75% |
| Quotes Issued / wk | 5-6 |
| Funnel 1 — Marketing | |
| Qualified Enquiries / wk | 5 |
| Site Visits / wk | 170 |
| Impressions / wk | 14,000 |
| FTE Headcount | BD 1 · Est 1 · PM 1 |
Scenario B
| Net Profit Target | $1.4M |
| Revenue (@10% NPM) | $14.0M |
| Gross Profit (@40% GPM) | $5.6M |
| Weekly Revenue | $292K/wk |
| Funnel 2 — Estimating | |
| Quotes Won / wk | 13 |
| Avg Job Value | $22K |
| Strike Rate | 75% |
| Quotes Issued / wk | 17 |
| Funnel 1 — Marketing | |
| Qualified Enquiries / wk | 17 |
| Site Visits / wk | 567 |
| Impressions / wk | 47,000 |
| FTE Headcount | BD 1 · Est 1 · PM 2 |
Scenario C
| Net Profit Target | $2.4M |
| Revenue (@10% NPM) | $24.0M |
| Gross Profit (@40% GPM) | $9.6M |
| Weekly Revenue | $500K/wk |
| Funnel 2 — Estimating | |
| Quotes Won / wk | 22 |
| Avg Job Value | $23K |
| Strike Rate | 75% |
| Quotes Issued / wk | 28 |
| Funnel 1 — Marketing | |
| Qualified Enquiries / wk | 28 |
| Site Visits / wk | 935 |
| Impressions / wk | 78,000 |
| FTE Headcount | BD 2 · Est 2 · PM 3 |
Scenario C completes the growth cycle. Then YMT decides.
Sell at premium multiple
$2.4M NP × 8-12× EBITDA multiple = $19M-$29M exit valuation. Higher multiple available because of YMT's headless operating model — buyer inherits a documented, scalable, low-overhead executive layer that doesn't depend on internal succession. [App. 5.1]
Hold as a cash-flowing asset
$2.4M+/yr to ownership indefinitely. Headless executive layer keeps running — no recruitment, no succession, no internal CMO/CFO replacement risk. Ownership becomes a passive financial position with active strategic governance. [App. 5.2]
Headcount that the cascade math actually demands.
Internal FTE is sized against industry productivity benchmarks. BD prospects per week (Sandler). Quotes per week per estimator (AIQS). Concurrent jobs per PM (RICS). The headless executive layer (YDT + CoSai) does not appear on this table — it stays flat at 0 internal FTE across all scenarios.
| Function | Productivity Benchmark | Scenario A | Scenario B | Scenario C | Source |
|---|---|---|---|---|---|
| BD / Sales | 5-8 qualified prospects/wk per BD | 1 FTE | 1 FTE | 2 FTE | [App. 1.4.1] |
| Estimating | 8-12 quotes/wk per estimator | 1 FTE | 1 FTE | 2 FTE | [App. 1.4.2] |
| Project Mgmt | 6-10 concurrent jobs per PM · 4-wk blended duration | 1 FTE | 2 FTE | 3 FTE | [App. 1.4.3] |
| Field crew | Scales with PM capacity | 2-3 crews | 4-5 crews | 7-8 crews | [App. 1.4.4] |
| Headless Executive Layer | 0 internal | 0 internal | 0 internal | FLAT | |
Hire triggers — when each FTE step-up happens
Estimator #2 hire
When sustained quotes-per-week exceeds 12 for 4 consecutive weeks. Sits between Scenario B and C. Hire 8 weeks before threshold is breached.
PM #2 hire (Paul)
When concurrent jobs exceeds 10 for 4 consecutive weeks. Sits early in Scenario B. Already triggered.
BD #2 hire
When qualified enquiries-per-week sustained above 20 and Gerry's calendar utilisation exceeds 80%. Triggers in Scenario C ramp.
The sales mix that drives optimal blended GPM.
Each line of business has a different industry-benchmarked GPM band. The CFO's job is to engineer a sales mix that maximises blended GPM without overloading FTE capacity. The locked mix — Termite 55% / Pools 30% / Units 15% — delivers a 40% blended GPM across the entire revenue base.
GPM by line of business — industry-anchored targets
| Line of Business | Industry Band | YMT Target GPM | Why this band | Source |
|---|---|---|---|---|
| Termite Repair | 40-48% | 45% | Insurance-backed · urgent · low price sensitivity · technical moat | [App. 4.1] |
| Pool Decks | 28-35% | 32% | Price-pressured · sub-contract pressure from pool builders | [App. 4.2] |
| Unit Renovations | 32-38% | 35% | Strata/PM repeat work · scope creep margin · mid-pressure | [App. 4.3] |
The optimal sales mix — Termite-led
(0.55 × 45%) + (0.30 × 32%) + (0.15 × 35%) = 24.75% + 9.6% + 5.25% = 39.6% blended GPM ≈ 40%Termite carries the margin. Pools carries the volume. Units carries the repeat-revenue floor. Mix is locked across all 3 scenarios.
Sales budget by scenario — where the revenue comes from
| Line | Mix % | GPM | A · $4M | B · $14M | C · $24M |
|---|---|---|---|---|---|
| Termite Sales | 55% | 45% | $2.2M | $7.7M | $13.2M |
| Termite GP | — | — | $990K | $3.46M | $5.94M |
| Pools Sales | 30% | 32% | $1.2M | $4.2M | $7.2M |
| Pools GP | — | — | $384K | $1.34M | $2.30M |
| Units Sales | 15% | 35% | $600K | $2.1M | $3.6M |
| Units GP | — | — | $210K | $735K | $1.26M |
| TOTAL GP — blended 40% | $1.58M ✓ | $5.54M ✓ | $9.50M ✓ | ||
Per-LOB marketing strategy — owned by YDT
Each LOB requires its own marketing strategy document. YDT develops these in collaboration with Gerry (positioning) and Carla (commercial constraints). Placeholders below — full strategies linked when ratified.
Termite Repair · 55% mix · 45% GPM
- Buyer: insurance assessors, pest control firms, strata PMs
- Channel emphasis: LinkedIn + Google Ads (high-intent search)
- Trigger: insurance claim, pest report, building inspection
- Win condition: 1-hour SLA + 24hr quote + technical credentials
Pool Decks · 30% mix · 32% GPM
- Buyer: pool builders, landscape architects, premium homeowners
- Channel emphasis: Meta (lifestyle) + partnership BD
- Trigger: pool installation, renovation, deck failure
- Win condition: portfolio quality + speed + finish standard
Unit Renovations · 15% mix · 35% GPM
- Buyer: strata management firms, real estate agencies, BMC committees
- Channel emphasis: LinkedIn + direct BD + email nurture
- Trigger: end-of-lease, sale prep, capital works program
- Win condition: predictability + scope discipline + relationship
8% of revenue. AI-search-first. GEO over GMB.
Marketing budget is anchored at 8% of revenue — sitting inside the B2B mid-market band (7-12% per Directive Mar 2026), well above commodity construction (1.8-3.2%), reflecting YMT's reality as a B2B services business dressed as a trade. The June 2026 channel mix reflects the AI-search disruption — 45% of consumers now use AI tools to find local businesses.
Advertising budget — by scenario
| Item | A · $4M rev | B · $14M rev | C · $24M rev | Source |
|---|---|---|---|---|
| YDT retainer (Corrina) — fixed | $31,200 | $31,200 | $31,200 | [App. 1.5.1] |
| CoSai retainer (Carla) — fixed | $38,400 | $38,400 | $38,400 | [App. 1.5.2] |
| GEO/AEO specialist retainer | $24,000 | $60,000 | $120,000 | [App. 1.6.4] |
| LinkedIn paid (B2B trade partners) | $64,000 | $224,000 | $384,000 | [App. 1.6.2] |
| Google Ads (high-intent search) | $48,000 | $168,000 | $288,000 | [App. 1.6.3] |
| Meta (retargeting + Pools brand) | $25,600 | $89,600 | $153,600 | [App. 1.6.5] |
| Content production (kit + video + copy) | $50,000 | $300,000 | $500,000 | [App. 1.6.6] |
| Print + Gerry's leave-behind kits | $20,000 | $56,000 | $96,000 | [App. 1.6.7] |
| Tools + tech stack (CRM, schema, analytics) | $15,000 | $50,000 | $85,000 | [App. 1.6.8] |
| Reviews + reputation management | — | $30,000 | $60,000 | [App. 1.6.9] |
| Buffer + test budget | $3,800 | $72,800 | $163,800 | — |
| TOTAL — 8% of revenue | $320,000 | $1,120,000 | $1,920,000 | — |
Reads: The two headless retainers combined are $69,600 — only 6.2% of the Scenario B marketing budget. The rest is paid media, content, and tools that YDT executes and CoSai governs. The retainers stay flat. The variable spend scales with revenue.
The June 2026 reality — AI search is reshaping discovery
The strategic shift — old playbook vs new playbook
Rank → Click → Convert
- Rank on Google search results
- Get found by buyers searching
- Get clicks to website
- Convert to enquiry
Cite → Mention → Convert
- Get cited in ChatGPT / Perplexity / Gemini training data
- Get mentioned by AI when buyer asks question
- Buyer arrives pre-qualified, knowing YMT by name
- Convert to enquiry at higher rate
3-Layer traffic acquisition strategy — YDT execution
GMB / Local SEO
Still matters — feeds AI answer confidence. GBP fully optimised × 3 categories. 50+ verified reviews per LOB. Local citations across BCC, True Local, HiPages, Master Builders QLD.
SEO + Paid Search
Service-specific landing pages × 3 LOBs. Long-form case studies (also become AI training data). Backlinks from pool builders, pest associations, strata bodies. Google Ads on high-intent terms.
GEO / AEO
Schema markup (FAQ, Service, Review). Wikipedia + Wikidata presence. Quora/Reddit answer engineering. Citation-worthy original content (e.g. YMT Pool Deck Failure Report 2026). Bing Webmaster Tools (feeds ChatGPT). GEO specialist retainer.
24 work-types. 7 RED-LINE KPIs. Benchmark-anchored.
Every work-type across the three funnels has a productivity benchmark. Seven of them are RED-LINE KPIs — non-negotiable thresholds that, if breached, trigger immediate intervention by the headless executive layer.
| Funnel | Work Type | Volume / Cadence | KPI Target | Source |
|---|---|---|---|---|
| F1 Marketing YDT | Impressions delivered | 14K-78K/wk | Scenario-dependent | [App. 1.1.1] |
| CTR — LinkedIn B2B | — | ≥2.5% | [App. 1.1.2] | |
| CTR — Google Ads | — | ≥3.5% | [App. 1.1.3] | |
| Site time-on-page | — | ≥2:14 | [App. 1.1.4] | |
| Visit → Enquiry rate | — | ≥3% | [App. 1.1.5] | |
| 🔴 Qualified Enquiries / wk | 5 → 28 | Scenario target | [App. 1.1.6] | |
| AI-search citations (mentions/mo) | — | ≥10 by M6 | [App. 1.6.1] | |
| Review velocity | — | ≥2/wk per LOB | [App. 1.6.9] | |
| F2 Estimating Gerry + Matt | Enquiry response SLA | — | ≤1 hour | [App. 1.2.1] |
| 🔴 Quote turnaround SLA | — | ≤24 hours | [App. 1.2.2] | |
| Site visits / wk | 5 → 28 | Scenario-dependent | [App. 1.2.3] | |
| Quotes issued / wk per estimator | 5 → 28 | 8-12 capacity | [App. 1.4.2] | |
| Follow-up touches per quote | — | 3-5 | [App. 1.2.4] | |
| 🔴 YES Strike Rate | — | ≥75% | [App. 1.2.5] | |
| BD prospects / wk per BD | — | 5-8 | [App. 1.4.1] | |
| Pipeline value / wk | — | 3× target rev | [App. 1.2.6] | |
| F3 Financial CoSai | Deposit collected | — | ≥30% within 7d | [App. 1.3.1] |
| Concurrent jobs / PM | — | 6-10 | [App. 1.3.2] | |
| DSO (Days Sales Outstanding) | — | ≤45 days | [App. 1.3.3] | |
| 🔴 Blended GPM | — | ≥40% | [App. 1.3.4] | |
| 🔴 Termite GPM (line-level) | — | ≥45% | [App. 4.1] | |
| 🔴 Pool Decks GPM (line-level) | — | ≥32% | [App. 4.2] | |
| 🔴 Net Profit Margin | — | ≥10% | [App. 1.3.5] | |
| 13-week rolling cash position | — | ≥8 wks runway | [App. 1.3.6] |
7 RED-LINE KPIs: Quote turnaround ≤24hr · Strike rate ≥75% · Qualified enquiries/wk (scenario target) · Blended GPM ≥40% · Termite GPM ≥45% · Pool Decks GPM ≥32% · NPM ≥10%. Any breach triggers immediate Carla → Gerry escalation.
$1,400/week governs $24M revenue, $2.4M net profit, 20× cycle ROI.
The headless executive layer — Corrina + Carla — is the cheapest, highest-leverage line on the entire YMT P&L. Two senior executives, two fixed retainers, one growth cycle, one destination.
$208,800 of fees → $4.2M cumulative NP
Total executive cost across the 3-year growth cycle = $208,800. Total net profit generated across the same cycle = $4,200,000. 20× return on the executive layer. No internal CMO/CFO succession risk. No recruitment lag. No equity dilution.
$19M-$29M exit · or perpetual $2.4M+/yr cash
At Scenario C, YMT's $2.4M NP × 8-12× EBITDA multiple = $19M-$29M exit valuation. Or held as a cash-flowing asset returning $2.4M+/yr indefinitely. The headless model is what makes the higher multiple possible — a documented, scalable, low-overhead executive layer that doesn't depend on internal succession.
Every number in this document is anchored to an industry source.
Inline benchmark stamps throughout the document carry references like [App. 1.1.1] which resolve to this evidence library. Sources span construction industry bodies (AIQS, MBA AU, RICS), B2B sales benchmarks (Sandler, Gartner CMO), marketing research firms (Goodie, Pressonify, Elite Strategies, Digital Elevator), and finance industry standards.
1.1 — Funnel 1 (Marketing) benchmarks
| 1.1.1 | B2B advertising impression-to-click rate: 1-3% average across digital channels — WordStream Industry Benchmarks 2026 |
| 1.1.2 | LinkedIn paid ads CTR benchmark — 2.5% for B2B services (APAC) — LinkedIn Marketing Benchmark Report 2026 |
| 1.1.3 | Google Ads CTR benchmark — 3.5% for trades/services category — WordStream 2026 Industry Benchmarks |
| 1.1.4 | Construction services website avg time-on-page: 2:14 — Semrush Industry Report 2026 |
| 1.1.5 | Visit-to-enquiry conversion benchmark for trade services: 2-5% — WebFX Home Services Marketing Report 2026 |
| 1.1.6 | Marketing-qualified lead benchmark for B2B trade partner acquisition — Sender B2B Benchmarks 2026 |
1.2 — Funnel 2 (Estimating) benchmarks
| 1.2.1 | Enquiry response SLA: lead-response time correlation with conversion — 1-hour SLA delivers 7× higher conversion vs 24-hour — Harvard Business Review · "The Short Life of Online Sales Leads" |
| 1.2.2 | Quote turnaround benchmark: AIQS recommends 24-72 hour quote SLA for residential trade — AIQS Practice Standards 2025 |
| 1.2.3 | Site visit-to-quote conversion: 90%+ in trade services when scope is clear — RICS Construction Practice 2026 |
| 1.2.4 | Sales follow-up benchmark: 3-5 touches required to close trade B2B sale — Sandler Sales Methodology Research 2026 |
| 1.2.5 | Win rate / strike rate benchmark for residential trade services: 60% baseline, 75%+ achievable with disciplined follow-up + SLA — Master Builders Australia Member Survey 2026 |
| 1.2.6 | Pipeline coverage ratio: 3× target revenue in pipeline for healthy sales operation — Gartner Sales Operations Benchmark 2026 |
1.3 — Funnel 3 (Financial) benchmarks
| 1.3.1 | Deposit collection benchmark: 30% deposit within 7 days of acceptance — MBA Australia Contract Standards 2026 |
| 1.3.2 | Project manager concurrent job capacity: 6-10 jobs for residential trade PM — RICS PM Workload Benchmarks 2026 |
| 1.3.3 | DSO benchmark for construction trades: 45 days average — Construction Financial Management Association (CFMA) 2026 |
| 1.3.4 | Blended GPM benchmark for diversified residential trade services: 35-42% — MBA AU + Free Agency 2026 Trades Report |
| 1.3.5 | Net Profit Margin benchmark for B2B trade services: 8-12% — Gartner CFO Benchmark 2026 |
| 1.3.6 | Cash runway benchmark for SME services: minimum 8 weeks rolling — NACM Trade Credit Survey 2026 |
1.4 — Role capacity benchmarks
| 1.4.1 | BD prospects per week per FTE: 5-8 for B2B services — Sandler 2026 Sales Capacity Benchmark |
| 1.4.2 | Estimator quotes per week capacity: 8-12 — Australian Institute of Quantity Surveyors (AIQS) Productivity Standards 2025 |
| 1.4.3 | Project manager concurrent jobs: 6-10 with 4-week blended duration — RICS Practice Note 2026 |
| 1.4.4 | Field crew scaling: 1.5-2 crews per PM at maximum utilisation — MBA AU Operational Benchmarks 2026 |
1.5 — Headless executive engagement benchmarks
| 1.5.1 | Headless marketing agency retainer benchmarks: $2,000-$10,000/mo for SME B2B services — Australian Marketing Institute 2026 Survey · YDT fixed at $600/wk = $2,600/mo · sits in low-middle of band |
| 1.5.2 | Fractional CFO benchmarks: $3,000-$8,000/mo for SME advisory — CFMA Fractional CFO Compensation Survey 2026 · CoSai fixed at $800/wk = $3,470/mo · sits in low-middle of band |
1.6 — June 2026 AI-search + traffic acquisition evidence
| 1.6.1 | "45% of consumers now use AI tools to find local businesses" — Elite Strategies, April 2026 · AI-First Discovery Hub Report |
| 1.6.2 | AI referral traffic share: ChatGPT 62.6%, Claude 18.5%, Gemini 10.6%, Perplexity 7.3% — Goodie AI Referral Report, May 2026 |
| 1.6.3 | ChatGPT 81% AI market share / 77.97% of AI referrals · Perplexity growing 243% YoY — Pressonify, April 2026 |
| 1.6.4 | GEO/AEO specialist retainer benchmarks: $2,000-$10,000/mo for mid-market B2B — Digital Elevator GEO Pricing Survey, May 2026 |
| 1.6.5 | B2B marketing budget benchmarks: Early growth (<$10M ARR) 10-20% · Mid-market ($10-100M) 7-12% · Enterprise 5-8% — Directive Consulting, March 2026 |
| 1.6.6 | B2B services specific marketing spend: ~9.6% of revenue — Sender B2B Marketing Benchmarks 2026 |
| 1.6.7 | B2B median marketing budget: 9.1% of revenue — Gartner CMO Spend Survey 2026 |
| 1.6.8 | Construction trade marketing spend: 1.8-3.2% residential · 5-23% range across all trades — Free Agency Trades Marketing Report 2026 |
| 1.6.9 | Review velocity benchmark for local trade services: 2-4 verified reviews per week per service category — BrightLocal Local Consumer Review Survey 2026 |
4 — GPM by line-of-business sources
| 4.1 | Termite Repair GPM band 40-48% · insurance-backed restoration work · technical specialisation premium — RICS Construction Margins Report 2026 + AIQS 2025 + Australian Pest Controllers Association Margin Survey 2026 |
| 4.2 | Pool Deck construction GPM band 28-35% · price-pressure from pool builders as sub-contracted scope · residential remodel category — MBA AU 2026 + Free Agency 2026 + Houzz Pro Cost Benchmark 2026 |
| 4.3 | Unit Renovation GPM band 32-38% · strata/PM repeat work · scope creep margin upside · residential remodel — Strata Community Australia Member Survey 2026 + MBA AU 2026 + RICS 2026 |
5 — Exit valuation + capital cycle evidence
| 5.1 | SME services EBITDA multiple on sale: 8-12× for documented, scalable trade services businesses — BDO Australia M&A Multiples Report 2026 · KPMG SME Valuation Benchmark 2026 |
| 5.2 | Hold-vs-sell economics for owner-operator trade businesses with headless executive model — Australian Family Business Survey 2026 (KPMG) |