While the median sale price for the businesses sold on BizBuySell in Q2 hit $270,000, 13% of those businesses closed for higher than $1 million. Owners of those businesses experienced a longer sales process (around 200 days) but were rewarded with a final sale price closer to asking. In fact, businesses over $1 million sold for roughly 98% of asking price, a much higher number than the 91% average.
These larger businesses also received a better sale price relative to their financials. The average multiple of revenue for businesses over $1 million stood at .91 in Q2, well above the .59 level for all sold businesses. Similarly, the cash flow multiple for these high-priced businesses was 3.61 as compared to 2.37 for all businesses.
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