Two lenses · September 2026
Valuation
Illustrative planning figures, not current revenue, a certified appraisal, fairness opinion, or investment offer.
What a buyer could transfer today
- Equity range
- $25k–$100k
- Transferable assets
- $35k–$125k
- Deduplicated replacement
- $180k–$400k
- Future with traction
- $500k–$2M+
Strategic $25M path
Reverse-engineered for a negotiation objective. Not an appraisal. DCF at a 25% discount currently prices the same forecast at $3.0M.
- Headline target
- $25M
- Y5 net revenue
- $13.4M
- Y5 EBITDA
- $3.0M
- Y1 breakeven units
- 25,274
Fifteen Sites · commission quotes
Comparable custom build prices, not booked revenue. Midpoint $432,000 plus twelve months of midpoint management equals $813,000 first-year hypothetical contract value.
| Product | Build | Monthly |
|---|---|---|
Compendium Inventory Control Tracks products, materials, manufacturing, vendors, and stock. | $15k–$30k | $1,000–$2,000 |
Aegis Reign Creator Foundry Builds games, decks, expansions, miniatures, dice, and related products. | $30k–$60k | $2,000–$4,000 |
The Creative Castle Flagship portfolio, library, store, and gateway to the wider collection. | $20k–$40k | $1,500–$3,000 |
NewLife Featherhold Private wellness and partnership command workspace. | $15k–$30k | $1,200–$2,500 |
Featherhold Long-range business planning and Dragon Feather command work. | $25k–$50k | $2,000–$4,000 |
Compendium Multimedia Hub Private product collection and customizable launcher. | $10k–$20k | $800–$1,500 |
Seraph & Scale Store Product catalog, jewelry design studio, and future commerce workflow. | $20k–$40k | $1,500–$3,000 |
Compendium Command Personal operations, media, markets, schedules, and daily work. | $20k–$40k | $1,500–$3,000 |
Dragon Feather Forge Master Mobile Preview Adapts Forge Master for mobile use and testing. Incremental; monthly included with Forge. | $3,000–$8,000 | — |
The Dragon Feather Rebuilt Game Studio Workspace for developing, organizing, and testing the game. | $25k–$50k | $2,000–$4,000 |
Aegis Reign Playable themed strategy game system and digital experience. | $20k–$45k | $1,500–$3,000 |
The Dragon Feather Sovereign Chess Themed digital chess experience. No current Sites thumbnail. No monthly management assigned. | $0–$3,000 | — |
Dungeon Master's Dream Campaigns, lore, characters, encounters, sessions, and source material. | $25k–$50k | $2,000–$4,000 |
Writer's Delight Manuscripts, dictation, scanning, organization, revision, and export. | $20k–$40k | $1,500–$3,000 |
The Dragon Feather Forge Game creation, worldbuilding, playtesting, canon, and operations. | $35k–$75k | $3,000–$5,000 |
Five-year illustrative forecast
Base retail $89 · 55% direct mix · contribution margin 50.3%. Assumptions are editable cells in the source workbook — none are quoted.
How $25M is argued
Revenue multiple · Y5
$26.8M
2× Y5 net revenue. Strategic framing only.
EBITDA multiple · Y5
$23.8M
8× Y5 EBITDA. Requires validated profitability.
DCF cross-check
$3.0M
25% discount, 3% terminal. High-risk pre-validation.
Deal structures
All-cash asset sale
Price allocation; reps; indemnity.
$25M
Cash + earnout
Metric control; acceleration; audit.
$21M
Upfront + 5% royalty
Net-sales definition; deductions; term.
$13.4M
Exclusive license + option
Exclusivity; option term; reversion.
$13.5M
Strategic partnership then sale
Rights leakage; governance.
$16M
Founder floor
Replace with founder decision.
$10M