• Jan 4, 2008
  • South Florida Business Journal

Small businesses are big sellers

Businesses brokers told BizBuySell that they closed 69 deals to sell South Florida companies through the Web site in the fourth quarter.

Most of these were small businesses, and the median sales price was $180,000, which represented 91 percent of the median asking price by the sellers. The companies that were sold had $450,000 in median revenue.

The biggest South Florida deal reported to BizBuySell was the $10 million purchase of a caviar-producing operation in Miami that had nearly $2.3 million in revenue. The Web site wouldn't disclose the name.

In other deals:

  • A Broward County manufacturer of aluminum shade structures sold for $1.6 million.
  • A lumber and woodworking company in Miami sold for $1.6 million.
  • An insurance agency in Miami sold for $1 million.
  • A Miami sign company sold for $950,000.

There are plenty of deals out there to be made. BizBuySell said 2,095 businesses were listed for sale in South Florida. They had a median asking price of $300,000 and median revenue of $470,000.

BizBuySell GM Mike Handelsman said revenue multiples for business valuations for South Florida businesses are declining, even as asking prices are flat.

"It suggests that it's getting tougher to sell a business in the area," he said. "This is something we expect to happen as retiring baby boomers flood the market with businesses for sale and drive prices down in the years to come. It's a buyer's market for aspiring entrepreneurs."

- Brian Bandell

About BizBuySell

BizBuySell is the Internet's largest business for sale marketplace. Since 1996, BizBuySell has offered tools that make it easy for business owners and brokers to sell a business, and potential buyers to find the business of their dreams. BizBuySell currently has an inventory of approximately businesses - spanning 80 countries - for sale at any one time and receives more than monthly visits. The site also features an extensive franchise directory as well as an easy-to-use business valuation tool. Please visit www.bizbuysell.com for more information.

BizBuySell was founded in 1996 and in 2012 became a division of CoStar Group, Inc. (NASDAQ - CSGP) - commercial real estate's leading provider of information and analytic services. CoStar conducts expansive, ongoing research to produce and maintain the largest and most comprehensive database of commercial real estate information and offers a suite of online services enabling clients to analyze, interpret and gain unmatched insight on commercial property values, market conditions and current availabilities. For more information, visit www.costar.com.

Media Contact:

Bobby Chilver
Walker Sands Communications
office: (312) 546-4712
email: robert.chilver@walkersands.com

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