It's not a sales call. It's a diagnostic. Here's what happens in those 15 minutes.
We offer 15-minute calls because 15 minutes is genuinely enough time to determine whether a sale-leaseback conversation is worth pursuing further. Not to close anything. Not to make promises. Just to understand whether the situation fits and whether both sides want to keep talking.
Most operators who call us have never done a sale-leaseback before. They're coming into the conversation with uncertainty about what to say, what we'll ask, and what getting it "wrong" might cost them. Let me eliminate that uncertainty.
Here's exactly what I'm trying to learn in those 15 minutes — and what you should be ready to cover.
What I'm trying to learn: five questions
1. What does the business do and how many locations?
This isn't due diligence. It's context. I want to understand the category, the concept, and the scale. QSR, healthcare, fitness, specialty retail, industrial — these categories have different margin structures, different franchise dynamics, and different real estate profiles. Knowing you operate six Subway franchises in suburban Iowa tells me something different than knowing you operate three independent urgent care clinics in Nashville.
You don't need to prepare an elaborate company description. Two sentences: what you operate and how many locations.
2. How many of those locations do you own the real estate on?
The sale-leaseback conversation is only relevant for locations where you own the building. If you own three of your six locations and lease the other three, we're talking about the three you own. This scoping question sets the size of the opportunity.
3. What's the rough property value — and is there debt on it?
I'm not asking for an appraisal. I'm asking for your best estimate of what the property is worth, and whether there's an existing mortgage or SBA loan against it. These two numbers tell me approximately how much capital a sale-leaseback would produce: property value (the gross proceeds) minus the payoff (what goes to retire the debt) equals the net capital you'd receive.
If you haven't thought about this number, a reasonable estimate is fine. "I think the property is worth somewhere around $3-4 million and I have a $900K SBA loan on it" is enough for a first call.
4. What would you do with the capital?
This is the question most operators least expect. I'm not asking as a gatekeeper — I don't have approval authority over what you do with your money. I'm asking because the answer tells me whether the capital need is real and whether a sale-leaseback is likely the right structure for it.
An operator who says "I want to open two new locations and I need $2M to do it" is telling me there's a growth plan, a specific capital need, and a use for the proceeds that the business can generate return on. That's a story I can underwrite.
An operator who says "I'm not sure, maybe pay down some debt" is telling me the capital need is less defined — which doesn't disqualify the deal, but means we have more to figure out before a structure makes sense.
5. What's your coverage situation — roughly?
I want to understand whether the business generates enough EBITDA to sustain a market rent on the property. I don't need precise numbers on the first call. I need a directional sense: "We do about $800K EBITDA at the unit level and the property is worth $3.5M" gives me enough to estimate whether we're in the coverage range before we spend an hour on a deeper conversation.
If you don't know your unit-level EBITDA off the top of your head, that's fine — "we're profitable and growing, margins have been strong" is a starting point. If you do know the EBITDA number, lead with it. It's the most useful number you can give me.
What I'm not trying to do in 15 minutes
I'm not trying to close you. I'm not trying to impress you with the firm's history or give you a capital markets lecture. I'm not trying to sell you on sale-leasebacks versus other options.
I'm trying to answer one question: is there a deal here worth spending more time on?
If the answer is yes — the property value and EBITDA are in range, the capital need is real, the operator knows their business — I'll say so directly and propose a next step: typically a 45-minute working session where we look at the numbers together with actual documents.
If the answer is no — the coverage doesn't close at market pricing, or the situation is better served by bank debt or a different structure — I'll say that too. On the first call. Not after three weeks of follow-up.
The 15-minute format is a gift to both parties. It costs you 15 minutes to find out if this is worth pursuing. That's a good trade regardless of the outcome.
What to prepare before you call
Four things. That's all.
Your location count and ownership breakdown. How many locations total, how many you own vs. lease.
Your property value estimate and any debt against it. Rough is fine.
Your approximate unit-level EBITDA on the owned locations. Not the consolidated P&L — the store-level earnings before interest, taxes, depreciation, and amortization on the properties you own.
Your growth plan or capital need. What would you do with the proceeds?
If you have those four things in your head before you dial, we'll move through the conversation efficiently and you'll leave knowing whether this is worth pursuing.
What happens if the situation doesn't fit right now
This is the part most operators are most worried about — that we'll say no and that'll be the end of the conversation.
It doesn't work that way.
Operators who call us and whose situation doesn't fit today often call back 12 or 18 months later when it does. Situations evolve. Coverage ratios improve. Growth plans crystallize. The SBA ceiling gets closer.
We keep those conversations. We're not running a call volume game where a "not right now" goes in a dead pile. If your situation will fit in a year and you take the steps to get there, we'd like to know when you're ready.
The worst outcome of the 15-minute call isn't "no." It's not making it at all because the conversation felt intimidating. That just delays the capital you need.
Ready for 15 minutes? Book directly at havenslb.com or reach out with the four numbers above. We'll take it from there.