Multiple/Valuation for Operating STR Property Management Franchise Territory

[King White]

I am looking for any insight into the valuation or multiple that an operating STR property management company would sell for. This would be for a franchise territory for one metro area type region only. The management agreements with the property owners are 1 year or less and cancellable. It is a franchise so it would be a 10 year type agreement with renewal rights subject to the various fees. Please assume the EBITA/Profit is between $500k to $1M. Appreciate any help.