Western Concepts
- Kurt FleischfresserFood & Beverage Director · Company website
How we got $2.4M
Based on its 91 employees and its payroll, both reported for PPP in 2020 and brought up to date.
Estimated value over time
▲ 26% since 2020Today's estimate scaled by the headcount reported each year and that year's prices. A trend, not a record of past sale values.
Employees over time
▼ 29% since 2020Show as table
| Year | Source | Employees | Est. revenue |
|---|---|---|---|
| 2020 | PPP loan | 91 | $5.5M |
| 2020 | Form 5500 | 59 | $3.5M |
| 2021 | Form 5500 | 54 | $3.2M |
| 2022 | Form 5500 | 53 | $3.2M |
| 2023 | Form 5500 | 46 | $2.8M |
| 2024 | Form 5500 | 65 | $3.9M |
Participants are employees in the company's retirement plan at year end, from its Form 5500 filing with the Department of Labor. They usually run a little under total headcount (part-timers and new hires may not be eligible). Revenue and EBITDA apply this industry's revenue per employee and margin to each year's count.
What we know
Signs of a sale Likely to sell
- In business 29 years (since 1997)
- Founder still runs it after 29 years
- No family successor named on its website
From public records and the company's website, not a statement that it's for sale.
What they do
Western Concepts operates a group of restaurants and event venues in Oklahoma City, including Sushi Neko, Musashi's, Will Rogers Theatre, Lobby Cafe & Bar, The Hutch, and The Tasting Room.
From the company's website. Industry: Restaurants.
Compared with similar businesses nearby
| Business | Est. revenue | Distance |
|---|---|---|
| WESTERN CONCEPTS this business | $11.4M | — |
| Sushi Neko Oklahoma City | $1.7M | 0.0 mi |
| The Tasting Room Oklahoma City | $1.1M | 0.0 mi |
| Rococo on Western Oklahoma City | $1.7M | 0.0 mi |
| Musashi's Japanese Steakhouse Oklahoma City | $1.7M | 0.0 mi |
| Closed Business RR Oklahoma City | $1.7M | 0.0 mi |
| TENNIS 2000 INC Oklahoma City · 13 employees | $1.5M | 0.0 mi |
The full calculation
| Employees reported to the SBA | 91 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $7.1M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $14.0M |
| Estimate: the two combined (geometric mean) | $11.4M |
| EBITDA margin (industry, adjusted for size) | 8% |
| EBITDA = revenue × margin | $906K |
Figures are shown toward the upper part of their range rather than at its middle.
Brought up to date assuming revenue has grown 8% a year since 2020, when the PPP figures were reported; included above.
| Estimated value = EBITDA × typical sale multiple | $2.4M |
| Multiple for this size and industry | 2.6× |
| Value range | $1.2M – $3.2M |
| Revenue range | $7.5M – $13.0M |
| EBITDA range | $596K – $1.0M |
| Industry (NAICS) | Full-Service Restaurants (722511) |
EBITDA margin: from IRS tax returns of S corporations in this industry (2019–2022), adjusted for company size: smaller companies typically run higher margins. EBITDA here is after owners' salaries.
Benchmarks: US Economic Census 2022, OK. PPP loans were sized on 2019–2020 payroll, so figures reflect that period. These are statistical estimates, not reported financials. Full methodology
History & advisors
Advisors
- BankingMidFirst BankPPP / SBA lender
From the company's own website and public filings (DOL Form 5500, IRS Form 990, SBA). Roles are as stated there and may be out of date.
Banking relationships
| MidFirst Bank PPP 2020, PPP 2021 | All 2,403 borrowers → |
From PPP and SBA loan records, which name the bank but not the individual banker.
PPP loans
| Approved | Draw | Amount | Jobs |
|---|---|---|---|
| 4/6/2020 | first | $648K | 91 |
| 1/20/2021 | second | $945K | 91 |
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About Western Concepts
Western Concepts is a restaurants company in Oklahoma City, Oklahoma, in business since 1997. It is owned by Carl Milam (President). Its estimated annual revenue is about $11.4M, with roughly $906K of EBITDA. It has about 65 employees. Its estimated business value is $2.4M (likely range $1.2M–$3.2M).
Common questions
- Who owns Western Concepts?
- Western Concepts is owned by Carl Milam (President), according to public sources such as the company's website or filings.
- How much revenue does Western Concepts make?
- SeeBITDA estimates Western Concepts's annual revenue at about $11.4M (likely between $7.5M and $13.0M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Western Concepts worth?
- About $2.4M, roughly 2.6× its estimated EBITDA of $906K, typical for a restaurants company its size. Likely range: $1.2M–$3.2M.
- How many employees does Western Concepts have?
- About 65, from its 2024 retirement-plan filing.
- When was Western Concepts founded?
- Western Concepts has been in business since 1997.
- Is Western Concepts for sale?
- There's no public listing, but it shows signs that often come before a sale: in business 29 years (since 1997); founder still runs it after 29 years; no family successor named on its website.