Blue sky multiples, which are applied to pre-tax income, are often discussed in the automotive industry. They represent a general indication of goodwill or intangible value, and there are factors that might drive a dealership to be at the higher or lower end of the blue sky multiple range for your brand.
For example, a dealership located in a well-suited, high-growth metro area with low tax rates would be expected to be priced at the higher range of blue sky multiples versus a dealership with the opposite characteristics.