Multi-site, manager-run operations
A second and third site running to the same numbers without the owner present is the strongest proof the format — not the founder — earns the money. It is the difference between an SDE price and an EBITDA price.
Valuation multiples · UAE
What is a restaurant or F&B business worth in the UAE?
F&B transacts around 4–6× EBITDA, with single owner-run sites priced at 2.0–3.0× SDE. Buyers in this sector are buying a repeatable format and its leases — not last year’s covers. The gap between a manager-run group and an owner-behind-the-pass restaurant is the whole band.
The multiple band we’d apply
EBITDA leads for groups and manager-run operations; SDE applies to single owner-operated sites. Expect normalisation for family salaries, cash handling and any rent paid to a related party — F&B diligence goes straight to the till data and the lease file.
- EV / EBITDA
- 4–6×
- EV / SDE (owner earnings)
- 2–3×
- EV / Revenue (cross-check)
- 0.3–0.8×
These are SME transaction bands from global deal data — open-source GCC/MENA SME comps are too thin to quote as a separate series, so treat the range as the starting grid, not a Gulf-specific promise. They are not public-market multiples: a quoted comparable carries a size and illiquidity discount of roughly 15–35% before it applies to a private SME. Size then moves you within the band — larger, cleaner businesses clear the top; smaller, owner-dependent ones price near the bottom.
What moves you inside the band
Lease terms and location risk
Long, assignable leases at sustainable rent-to-revenue ratios carry the multiple. A flagship on a short lease, or rent above ~12–15% of revenue, is priced as fragility however strong the brand.
Format replicability
Documented recipes, SOPs, supplier contracts and a kitchen that trains rather than depends on one chef make the concept franchisable — and franchisable concepts clear the top of the band.
Margin stability
Twelve-plus months of stable gross margin through input-cost swings shows pricing power. Volatile food-cost percentages read as a business that re-earns its profit every quarter.
A multiple prices the enterprise — you bank the equity
Multiplying earnings by a band produces an enterprise value (EV). What a sale actually puts in your pocket is equity value: EV minus debt and debt-like items (shareholder loans, end-of-service liabilities, overdue payables), plus genuinely surplus cash, adjusted for working capital. Two businesses with identical EV can hand their owners very different proceeds once that bridge is built — which is why our calculator returns both numbers, not just the headline.
Frequently asked questions
What multiple do restaurants sell for in Dubai?
SME F&B clusters around 4–6× EBITDA, with single owner-run sites at 2.0–3.0× SDE (global SME bands — open UAE comp data is too thin to quote separately). Manager-run multi-site operations on long assignable leases sit at the top; owner-dependent single sites at the bottom.
Is my brand worth anything on top of the multiple?
Brand value in F&B is paid through the band position and format replicability, not as a separate line. A concept with proven franchise economics can transact above the standard band — but that claim has to survive diligence on unit-level numbers.
How do leases affect the price?
More than almost anything else. Buyers model remaining term, assignability, and rent-to-revenue per site; a great P&L on a lease the landlord can break is heavily discounted. Renegotiate and document leases before going to market, not during it.
Get your range in five minutes
The free calculator applies these same bands to your numbers — the earnings basis chosen by company size, the position inside the band set by quality — and returns an enterprise-value range with the EV→equity bridge, not a single flattering point.
Before you anchor on a number
Indicative only. This figure is an automated, indicative estimate generated from the limited information you provided and from general market data for comparable companies. It is not a valuation, an appraisal, a fairness opinion, or financial, investment, legal, tax, or accounting advice, and it is not an offer or a solicitation to buy or sell any business or security. Every business is different; an indicative range produced from sector averages can differ materially from the price an actual buyer or investor would pay.
No reliance; subject to diligence. Fiducia Adamantina gives no representation or warranty as to the accuracy or completeness of this estimate and accepts no liability for any decision taken in reliance on it. Any real valuation depends on full financial and legal due diligence, the specific facts of your business, and prevailing market conditions at the time of a transaction. You should not act, or refrain from acting, on the basis of this output alone. For a defensible assessment, speak to us directly.