What 381 deal reviews, closed-deal data and the national market tell buyers and sellers of businesses under $10 million. Our first annual report covers how Main Street businesses are priced, how often they hold up under review, what puts deals at risk, and what the 2026 SBA rule changes mean for financing.
Built from the deals we see and the data behind them.
Each finding is charted in the full report, with the method and sources behind it.
Sellers in our sample asked a median 3.5x SDE. Comparable businesses with $1M to $5M in sales closed at a median 2.74x. On a business with $537K of SDE, the gap is about $400K of price.
In closed transactions the multiple roughly doubles from the smallest businesses to the largest. Asking prices barely move with size, so the smallest sellers are priced furthest from the market.
54% of opportunities were worth pursuing only after verification, 22% only at a lower price or a different structure, and 5% were a pass. Only 19% held up exactly as presented.
Half of our reviews raised a financing or debt-coverage concern, and 39% questioned whether the add-backs behind the advertised earnings would hold up with a lender.
SBA 7(a) loan counts fell sharply in fiscal 2026. Since October 1, acquisitions must show 1.25x debt coverage on historical results, and deals of $3M or more need a quality of earnings report.
The median time to sell across 16 industries in DealStats closed deals is 323 days. Owners who prepare their books and step back from daily operations before listing shorten that clock.
Owners can see where their business sits against closed-deal data. Buyers can have a deal reviewed before the LOI goes out. The two practices never work on the same transaction.
Answer a few simple questions and get a real-time value range built on real transaction data: Business Reference Guide rules of thumb and DealStats closed-deal medians for 31 industries, adjusted for size and location.
Thinking about a sale in the next few years? See how sell-side advisory works.
This year we launched our deal review membership for buyers, and our team has already reviewed more than 100 deals this year. Each review covers the CIM and financials, a structure a lender will fund, and time with a senior advisor.
Never on a deal we represent. Read the independence policy.
Nineteen pages of charts on pricing, review outcomes, deal risks and financing. Free, no sign-up.
Not ready for an estimate, or want to understand how we work before sharing any numbers? Send us a note. A senior advisor will reply privately, typically within one business day.
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A senior advisor will reply privately, typically within one business day.