PROVIDENCE – There were 36 closed transactions of small businesses in the Providence-Warwick-Fall River metropolitan area in 2018, as tracked by BizBuySell, a 20 percent decline from one year prior, according to the online business marketplace company this week.
The report tracks self-reported transactions from brokers. The figures do not reflect sales by owner and excluded some sales due to confidentiality.
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The report found that of the 36 closed and reported deals, 13 were restaurants, 11 were retail businesses, 10 were service businesses, one was a manufacturing company and one was classified as “other.”
The median sale price for the year was $575,000, about 94 percent of the median asking price. The companies sold had a median revenue of $908,000 and a median cash flow of $168,000.
- Service businesses sold for a median of $1.2 million
- Retail sold for a median of $575,000
- Restaurants sold for a median of $310,000
- A manufacturing business sold for $200,000
- An unidentified business without a sector classification sold for $4.8 million
Nationally, there were 10,312 businesses sold and logged by BizBuySell, a 4 percent increase year over year from 9,919 sales in 2017. The median sale price of a U.S. small business in the report was $249,000 in 2018, a 9.3 percent increase from $227,880 in 2017.
“The business-for-sale market has remained balanced for quite a few years now, allowing both buyers and sellers to confidently enter the market and walk away with a deal to their liking,” Bob House, president of BizBuySell.com & BizQuest.com, said in a statement. “Small-business ownership is the American dream and with a growing number of listings hitting the market, there should remain a steady stream of entrepreneurs ready to take over these businesses.”
