A new report on business sales in Greater Hartford showed the median asking price at the end of 2015 dropped 14.7 percent compared to the end of 2014. Overall business revenue was down among those businesses for sale.
BizBuySell, which calls itself the Internet’s largest business for-sale marketplace, recently released its annual and fourth quarter Insight Report, which provides data regarding the sale of small businesses in the Hartford area and nationally.
Among the highlights of the report:
- If you want to buy a business in Hartford, the median asking price of businesses for sale at the end of 2015 was $179,900, compared to $210,000 at the end of 2014.
- Businesses listed in the Hartford area at the end of 2015 had a median revenue of $450,000, down from $480,549 at this same time last year in 2014.
- The median cash flow, meaning the money that comes out of the business over the course of a year, is $90,000, versus median cash flows of $89,740 last year.
Nationally, the number of small businesses changing hands in 2015 fell 3.6 percent from 2014’s record high. This year’s small dip in transactions suggests the market is stabilizing, despite predictions that a tidal wave of retiring Baby Boomers would flood the market.
Statistics tracked in the report include the number of businesses that changed hands, median sale price in 2015, average selling price multiples and more. The economic data is based on 153 Hartford-area businesses listed in the fourth quarter of 2015 at BizBuySell.com.
BizBuy said closed transactions are self-reported by the representing brokers. Not all closed transactions are reported BizBuySell.
