We track thousands of businesses for sale across the country every month. Here's what the market is really doing - not what owners hope it's doing.
⬇ Download the 1-page PDFBar = the typical (median) multiple paid at that profit level; shaded band = the middle 50% of deals (25th–75th percentile). The bigger and cleaner the business, the higher the multiple - size and simplicity get rewarded. (Smaller businesses are valued on SDE, the owner's total take-home; larger ones on EBITDA. Either way, it's the profit the business throws off.)
What actually closes. About 1 in 10 acquisition loans approved by the SBA is cancelled before the deal closes. (U.S. Small Business Administration) And the deals that do close go for less: brokers report smaller businesses selling at about 2 times profit, below what sellers ask. (IBBA and M&A Source Market Pulse Survey)
But asking isn't getting. Each year about 80,000 businesses come to market and only about 13,000 sell. That's roughly 1 in 6. The rest sit, get marked down, and come off the market unsold. Each year about 54,000 businesses with five or more employees close for good, roughly four closures for every completed sale. (U.S. Census Bureau)
When a seller cuts the asking price, the typical cut is about 17 percent. On a $600,000 asking price that is $100,000, gone before a buyer has negotiated anything.
A fresh listing has leverage. One that's been for sale 6+ months signals "motivated seller," and buyers price accordingly.
What buyers expect. Nearly 8 in 10 buyers expect to use SBA financing, and 9 in 10 expect the seller to finance part of the deal. Fewer than 1 in 3 owners plan to offer it. (BizBuySell)
Where your business lands in that 2.5×–4.5× range isn't luck - size and sell-readiness decide it, and both are fixable before you go to market. See what a buyer could actually finance with our free SBA Valuation Calculator - then book a free Exit Readiness Call.
Source: Pre-Sale Prep proprietary analysis of thousands of active U.S. business-for-sale listings nationwide and dozens of independent brokerages, September 2026. "Multiple" = asking price ÷ annual business profit - measured as SDE (the owner's total earnings) for smaller businesses and EBITDA for larger ones - with real estate excluded. Figures shown are market asking levels; actual sale prices are typically lower. For general market education only; not a valuation or an offer. New edition published on the 1st of every month.