2025 Year in Review: BizBuySell Market Recap
The U.S. small business transaction market reached a period of stabilization in 2025, with deal volume holding steady and sale prices continuing an upward trend. Total enterprise value reached $7.95 billion, marking a 3% increase from 2024.
While quarterly swings reflected broader economic uncertainty — transactions dipped in Q1 and Q2 amid inflationary pressures, then rebounded 8% in Q3 as owners moved to capitalize on strong valuations — the overall picture shows a market in balance. Median sale prices rose 2% to $350,000, and businesses continued to sell at 94% of asking price.
Below, we break down the numbers that shaped 2025.
Market Highlights
Small business transactions on BizBuySell totaled 9,586 in 2025, up 0.4% year-over-year. Fundamentals remain strong: median cash flow rose 3% to $158,950, and median revenue climbed 3% to $703,000 — signs that the businesses changing hands are profitable.
| Total Enterprise Value | Closed Transactions |
| $7.95B ↑ 3% YoY | 9,586 ↑ 0.4% YoY |
| Median Sale Price | Median Cash Flow |
| $350,000 ↑ 2% | $158,950 ↑ 3% |
| Median Revenue | Avg Sale/Asking Ratio |
| $703,000 ↑ 3% | 94% ↑ 1% |
Sectors & Trends
Service businesses led deal volume in 2025, followed by retail and restaurants. Meanwhile, buyer search activity pointed to emerging opportunities in financial services, technology, and café businesses. Valuation multiples ticked up modestly, with the average cash flow multiple rising 1% to 2.61x and revenue multiples climbing 2% to 0.69x.
- 1 Service
- 2 Retail
- 3 Restaurant
- 4 Other
- 5 Manufacturing
- 1 Financial Services
- 2 Technology Services
- 3 Café & Coffee Retailers
- 4 Beauty & Personal Care
Buyer Interest by Region
Florida, California, and Texas dominate buyer interest.
- 1 Florida
- 2 California
- 3 Texas
- 4 Arizona
- 5 New York
- 1 Service
- 2 Restaurant and Food
- 3 Retail
- 4 Building and Construction
- 5 Automotive and Boat
Time to Close by Sector
Median time to close held at 170 days in 2025, though this varied significantly by sector. Retail businesses closed fastest, while manufacturing deals took the longest.
- 1 Other — 153 days
- 2 Retail — 163 days
- 3 Service — 167 days
- 4 Restaurant — 189 days
- 5 Manufacturing — 223 days
Community & Content
BizBuySell's Learning Center and Blog are valuable resources for buyers, sellers, and brokers navigating the business-for-sale market. This year's most-read content reflects the questions on everyone's mind: How do I value my business? How long does this process take? And what opportunities exist in today's market?
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