Business Sales Overview of Q2 2017
Business Sales hit a record high for the second quarter of 2017, say the most recent report from BizBuysell.com. There were a total of 2534 closed transaction for the 2nd quarter nationally, a 31% increase over the same period last year. The total sales year to date are 4902. With this pace, 2017 is looking to surpass 2016.
The median price is hovering around $229k based on $116k median net profit. The average sale to asking price is around 92%.
The chart below shows the asking price to sold prices for the last several quarters.
Despite higher asking prices, sales closed faster in the 2nd quarter with an average of 168 days, down from 178 days during Q2 2016.
Interestingly, businesses that sell during the first quarter have a much longer time on the market, then those that sell during the 2nd, 3rd and 4th quarter.
In the second quarter, the largest sector for sales was the service industry, followed by retail- other and manufacturing.
Restaurant sales have spiked to over 34% increase year over year and the median price has jumped from $165k to $195k. The increase is attributed to the improvement in financials. The median revenues have increased to $540k with a profit of $100k, this makes the multiplier about 1.95 time net profit.
Jacksonville Specific Data
In Jacksonville, there were about 388 listed business with an average price of $200k based on $95k of net profit.
Per this report, in 2016, there were a total of 49 closed transactions in Jacksonville with a median price of $190k with a median net profit of $114k.