🧯 Deadly Sin: Ignoring Customer Concentration Risk

If one client makes up 30%+ of revenue, your cash flow has a single point of failure.

Yet appraisals often:

❌ Ignore this risk
❌ Apply normal multiples
❌ Assume “it’ll be fine”

📌 Appraisers and SBA lenders must adjust value—or structure around it—when concentration threatens stability.