Overly simplified model of how we think about new agency ventures. Assuming you successfully grow to do $100k, $350k, $700k in cash flows the first 3 years, a $200k investment can return 3x from distributing 50% of the cash flows each year. Not bad at all. And if you are able to exit the business (assuming you own 100%), that’ll really juice your multiple on invested capital (MOIC). At Barrel Holdings, we expect to hold for long term and increase MOIC through annual cash flow distributions.