I’ve recently been evaluating a few businesses that operate as exclusive distributors for major brands. One example is a company with the exclusive territory for industrial cleaning equipment. Another is a mobility equipment dealer. At first glance, these models are appealing—strong brand association, semi-protected territories, recurring service and parts revenue. But I’m wrestling with how to evaluate the risk of supplier dependency and lack of true ownership over the customer or product. For example, what happens if the OEM decides to revoke or reassign the territory? How defensible is the business if the brand relationship deteriorates? Would love to hear from anyone who's looked at these types of deals—whether in industrial, medical devices, mobility, HVAC, etc.