Report: Hartford small biz yield nation’s worst sale-to-asking price ratio
Greater Hartford small business owners who sold their companies during the first quarter received the lowest return rate vs. their asking price in the nation, according to a recent report.
The report by BizBuySell, an online business-for-sale marketplace, says small business owners in Hartford, West Hartford and East Hartford that sold their companies during the first quarter yielded a 0.84 sale-to-asking price ratio. There were 41 total businesses sold at a median price of $116,250.
Small business owners in counties in Kentucky and Indiana tied Greater Hartford owners for the nation’s worst sale-to-asking price ratio over the quarter, the report says.
The report says 160 small businesses in the area were listed for sale during the first quarter for a median asking price of $184,900, which represents a 7.1 percent decrease from the year-ago period.
In 2017, Connecticut’s small business owners averaged an asking price of $199,000.
About 34 percent of active listings in Connecticut are asking for $100,000 to $200,000 and almost 20 percent are asking for $100,000 or less.
Retail and restaurant businesses in the region had a median asking price of $150,000, while manufacturing businesses were asking for $1 million.
Median cash flow for businesses in Greater Hartford remained flat at about $84,700, the report says.
Nationally, small businesses on average sold for $250,000 over the first quarter, which represents a 3.4 percent increase form 2017 and the highest median price the website has recorded since it began tracking the data in 2007.
The nation’s median asking price for small businesses also reached record highs, totaling $262,000, up 4.8 percent from a year ago, the report says.
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