Small business owners are more optimistic than ever before, but if you’ve been thinking about retirement and want to capitalize on that optimism, you’re not alone. The Denver Business Journal reports that more small businesses were put up for sale in the first quarter of 2017 than last year, but at slightly lower prices.
Data from BizBuySell.com found that 496 small businesses in Colorado were put up for sale during the first quarter of 2017, including 62 restaurants, 143 retail stores, 210 various service providers, and 19 manufacturing businesses. Of those businesses for sale, BizBuySell reports that 39 businesses sold, up from the 29 businesses that sold in the first quarter of 2016.
With more businesses on the market, the competition has lowered the median sale price of those businesses to $275,000 down from $307,500 in the first quarter of 2016.
Another factor to consider if you’re thinking about selling is how well each of these small businesses is doing. The median revenue for the businesses that sold was $518,159, up around 8.4 percent compared to the businesses that sold during the same period last year.
