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South Dakota

Lake County

Selling a Business in Lake County

Lake County has 339 employer businesses, and 87% of them have fewer than 20 employees. This page shows the local mix of industries and how a sale is handled here. The largest industries here are retail and construction.

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LOCAL SNAPSHOT

Lake County by the numbers

339

EMPLOYER BUSINESSES

87%

SMALL EMPLOYER SHARE

969

BUSINESSES WITH NO EMPLOYEES

3,907

EMPLOYMENT

$203 million

ANNUAL PAYROLL

140

BUSINESSES WITH 5 TO 49 EMPLOYEES

U.S. Census Bureau, County Business Patterns 2023 and Nonemployer Statistics 2024. Counts are employer establishments, meaning business locations with paid employees.

How Lake County compares

Lake County ranks 15th of 66 South Dakota counties and county equivalents for employer businesses.
The number of employer businesses fell 9.6% between 2018 and 2023.
Manufacturing makes up 7% of employer businesses in Lake County, compared with 4% in South Dakota.
140 employer businesses here have 5 to 49 employees.

Lake County ranks 15th of 66 South Dakota counties and county equivalents for employer businesses.
The number of employer businesses fell 9.6% between 2018 and 2023.
Manufacturing makes up 7% of employer businesses in Lake County, compared with 4% in South Dakota.
140 employer businesses here have 5 to 49 employees.

Industry mix

The largest industries by number of employer businesses:

Retail: 42 employer businesses
Construction: 37 employer businesses
Accommodation and food service: 35 employer businesses
Professional and technical services: 32 employer businesses
Repair, personal care and other services: 30 employer businesses

The largest industries by number of employer businesses:

Retail: 42 employer businesses
Construction: 37 employer businesses
Accommodation and food service: 35 employer businesses
Professional and technical services: 32 employer businesses
Repair, personal care and other services: 30 employer businesses

INDUSTRIES

What sells in Lake County

Retail, construction, accommodation and food service, professional and technical services

Electronics & Repair

Retail Stores

Fashion, Apparel & Jewelry

Retail Stores

Carpentry & Framing

Construction & Engineering

Civil Engineering

Construction & Engineering

Audio Visual (AV)

Home Services

Commercial Cleaning

Home Services

Every kind of business we sell in Lake County

These are the industries in Lake County and the number of employer businesses in each. Counts are employer businesses in the closest Census industry codes. Industries without a clean Census match are listed without a count, and a few industries share one Census category, so their counts match. A sale multiple is the price a business typically sells for as a multiple of its earnings. SDE means seller's discretionary earnings, which is the owner's pay plus the profit of the business. EBITDA means earnings before interest, taxes, depreciation and amortization.

Construction & Engineering

23 related employer businesses in Lake County.

Foundation & Site Prep: 8 employer businesses here. Typical sale multiple: 2.5x - 4.0x EBITDA + Fleet.
General Contracting: 7 employer businesses here. Typical sale multiple: 3.0x - 4.5x SDE.
Electrical: 5 employer businesses here. Typical sale multiple: 4.0x - 8.0x EBITDA.
Landscaping: 3 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.

Restaurants & Food

20 related employer businesses in Lake County.

Full-Service Restaurants: 12 employer businesses here. Typical sale multiple: 1.5x - 2.5x SDE.
Quick-Service & Fast Food: 5 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Coffee Shops: 3 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE.

Financial & Professional Services

19 related employer businesses in Lake County.

Insurance Agencies: 11 employer businesses here. Typical sale multiple: 6.0x - 8.0x EBITDA.
Accounting & Tax Practices: 8 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE.

Logistics & Transportation

13 related employer businesses in Lake County.

General Freight Trucking: 13 employer businesses here. Typical sale multiple: 2.44x - 3.45x SDE.

Manufacturing

13 related employer businesses in Lake County.

Printing & Plastics: 4 employer businesses here. Typical sale multiple: 2.9x - 4.9x SDE.
Metal Fabrication: 3 employer businesses here. Typical sale multiple: 3.2x - 4.2x SDE.
Medical & Chemical Manufacturing: 3 employer businesses here. Typical sale multiple: 4.5x - 8.0x EBITDA.
Wood & Furniture Manufacturing: 3 employer businesses here. Typical sale multiple: 2.5x - 3.8x SDE.

Entertainment & Recreation

9 related employer businesses in Lake County.

Bars & Pubs: 9 employer businesses here. Typical sale multiple: 2.0x - 4.0x SDE.
Clubs & Lounges: 9 employer businesses here. Typical sale multiple: 3.0x - 6.0x EBITDA.

Retail Stores

8 related employer businesses in Lake County.

Hardware, Garden & Building: 5 employer businesses here. Typical sale multiple: 2.5x - 3.8x SDE + Inventory.
Health, Beauty & Pharmacy: 3 employer businesses here. Typical sale multiple: 2.8x - 4.2x EBITDA.

Automotive & Boat

7 related employer businesses in Lake County.

Auto Parts: 4 employer businesses here. Typical sale multiple: 2.5x - 3.2x SDE + Inventory.
Auto Repair: 3 employer businesses here. Typical sale multiple: 2.5x - 3.2x SDE.

Medical Practices

5 related employer businesses in Lake County.

Dental Practices: 5 employer businesses here. Typical sale multiple: 3.5x - 5.5x EBITDA.

Gas Stations & Convenience

4 related employer businesses in Lake County.

Gas Stations: 4 employer businesses here. Typical sale multiple: 3.0x - 4.5x EBITDA + Real Estate.

Hospitality & Travel

4 related employer businesses in Lake County.

Hotels: 4 employer businesses here. Typical sale multiple: 2.6x - 5.1x EBITDA.
Motels: 4 employer businesses here. Typical sale multiple: 1.1x - 2.5x SDE.

Wholesale & Distribution

3 related employer businesses in Lake County.

Industrial & Construction Supply: 3 employer businesses here. Typical sale multiple: 3.0x - 4.0x SDE.

Construction & Engineering

23 related employer businesses in Lake County.

Foundation & Site Prep: 8 employer businesses here. Typical sale multiple: 2.5x - 4.0x EBITDA + Fleet.
General Contracting: 7 employer businesses here. Typical sale multiple: 3.0x - 4.5x SDE.
Electrical: 5 employer businesses here. Typical sale multiple: 4.0x - 8.0x EBITDA.
Landscaping: 3 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.

Restaurants & Food

20 related employer businesses in Lake County.

Full-Service Restaurants: 12 employer businesses here. Typical sale multiple: 1.5x - 2.5x SDE.
Quick-Service & Fast Food: 5 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Coffee Shops: 3 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE.

Financial & Professional Services

19 related employer businesses in Lake County.

Insurance Agencies: 11 employer businesses here. Typical sale multiple: 6.0x - 8.0x EBITDA.
Accounting & Tax Practices: 8 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE.

Logistics & Transportation

13 related employer businesses in Lake County.

General Freight Trucking: 13 employer businesses here. Typical sale multiple: 2.44x - 3.45x SDE.

Manufacturing

13 related employer businesses in Lake County.

Printing & Plastics: 4 employer businesses here. Typical sale multiple: 2.9x - 4.9x SDE.
Metal Fabrication: 3 employer businesses here. Typical sale multiple: 3.2x - 4.2x SDE.
Medical & Chemical Manufacturing: 3 employer businesses here. Typical sale multiple: 4.5x - 8.0x EBITDA.
Wood & Furniture Manufacturing: 3 employer businesses here. Typical sale multiple: 2.5x - 3.8x SDE.

Entertainment & Recreation

9 related employer businesses in Lake County.

Bars & Pubs: 9 employer businesses here. Typical sale multiple: 2.0x - 4.0x SDE.
Clubs & Lounges: 9 employer businesses here. Typical sale multiple: 3.0x - 6.0x EBITDA.

Retail Stores

8 related employer businesses in Lake County.

Hardware, Garden & Building: 5 employer businesses here. Typical sale multiple: 2.5x - 3.8x SDE + Inventory.
Health, Beauty & Pharmacy: 3 employer businesses here. Typical sale multiple: 2.8x - 4.2x EBITDA.

Automotive & Boat

7 related employer businesses in Lake County.

Auto Parts: 4 employer businesses here. Typical sale multiple: 2.5x - 3.2x SDE + Inventory.
Auto Repair: 3 employer businesses here. Typical sale multiple: 2.5x - 3.2x SDE.

Medical Practices

5 related employer businesses in Lake County.

Dental Practices: 5 employer businesses here. Typical sale multiple: 3.5x - 5.5x EBITDA.

Gas Stations & Convenience

4 related employer businesses in Lake County.

Gas Stations: 4 employer businesses here. Typical sale multiple: 3.0x - 4.5x EBITDA + Real Estate.

Hospitality & Travel

4 related employer businesses in Lake County.

Hotels: 4 employer businesses here. Typical sale multiple: 2.6x - 5.1x EBITDA.
Motels: 4 employer businesses here. Typical sale multiple: 1.1x - 2.5x SDE.

Wholesale & Distribution

3 related employer businesses in Lake County.

Industrial & Construction Supply: 3 employer businesses here. Typical sale multiple: 3.0x - 4.0x SDE.

Working with owners in Lake County

Business Advisors of America works with owners who are selling a business in Lake County. Contact us to talk about a sale.

Get a Free Valuation

FREQUENTLY ASKED QUESTIONS

Questions owners in Lake County ask

How long does it take to sell a business in Lake County?

The time depends on the price, the quality of the records and the number of qualified buyers.

How is a business valued in Lake County?

Valuation starts with the earnings the business produces for an owner, then adjusts for assets, size, industry and the terms a buyer is likely to accept. The result is a range, and the asking price is set inside it.

Is the sale confidential?

Buyers are asked to sign a non-disclosure agreement before they see the name of the business or its financial statements.

FROM OUR BLOG

Guides for owners in Lake County

October 3, 2025

Business Owners

Add-Backs: What Counts, What Does Not, and What Buyers Push Back On

Every add-back you can prove raises your sale price by two to three times its amount. Every add-back you cannot prove costs you credibility on all the others.

Read article

October 3, 2025

Business Owners

Add-Backs: What Counts, What Does Not, and What Buyers Push Back On

Every add-back you can prove raises your sale price by two to three times its amount. Every add-back you cannot prove costs you credibility on all the others.

Read article

March 5, 2026

Business Owners

Buyer Qualification: How We Screen Out the Buyers Who Cannot Close

Most inquiries on a business listing come from people who cannot close. Here is how they get screened out before they see your name or your financials.

Read article

March 5, 2026

Business Owners

Buyer Qualification: How We Screen Out the Buyers Who Cannot Close

Most inquiries on a business listing come from people who cannot close. Here is how they get screened out before they see your name or your financials.

Read article

February 9, 2026

Business Owners

The Confidential Information Memorandum: What Goes In It and Why

The CIM is the document a buyer reads before they decide to spend time on your business. Here is what it has to contain and the mistakes that cost sellers offers.

Read article

February 9, 2026

Business Owners

The Confidential Information Memorandum: What Goes In It and Why

The CIM is the document a buyer reads before they decide to spend time on your business. Here is what it has to contain and the mistakes that cost sellers offers.

Read article