Selling a Business in Lee County

Lee County has 690 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 repair, personal care and other services.

LOCAL SNAPSHOT

Lee County by the numbers

690

690

EMPLOYER BUSINESSES

87%

87%

SMALL EMPLOYER SHARE

1,999

1,999

BUSINESSES WITH NO EMPLOYEES

10,894

10,894

EMPLOYMENT

$575 million

$575 million

ANNUAL PAYROLL

289

289

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 Lee County compares

  • Lee County ranks 45th of 102 Illinois counties and county equivalents for employer businesses.

  • The number of employer businesses fell 2.5% between 2018 and 2023.

  • Accommodation and food service makes up 12% of employer businesses in Lee County, compared with 9% in Illinois.

  • 289 employer businesses here have 5 to 49 employees.

  • Lee County ranks 45th of 102 Illinois counties and county equivalents for employer businesses.

  • The number of employer businesses fell 2.5% between 2018 and 2023.

  • Accommodation and food service makes up 12% of employer businesses in Lee County, compared with 9% in Illinois.

  • 289 employer businesses here have 5 to 49 employees.

Industry mix

The largest industries by number of employer businesses:

  • Retail: 95 employer businesses

  • Repair, personal care and other services: 88 employer businesses

  • Health care and social assistance: 86 employer businesses

  • Accommodation and food service: 83 employer businesses

  • Construction: 74 employer businesses

The largest industries by number of employer businesses:

  • Retail: 95 employer businesses

  • Repair, personal care and other services: 88 employer businesses

  • Health care and social assistance: 86 employer businesses

  • Accommodation and food service: 83 employer businesses

  • Construction: 74 employer businesses

INDUSTRIES

What sells in Lee County

Retail, repair, personal care and other services, health care and social assistance, accommodation and food service

Every kind of business we sell in Lee County

These are the industries in Lee 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

71 related employer businesses in Lee County.

  • General Contracting: 27 employer businesses here. Typical sale multiple: 3.0x - 4.5x SDE.

  • Landscaping: 12 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.

  • Plumbing: 10 employer businesses here. Typical sale multiple: 3.5x - 5.0x SDE.

  • HVAC Services: 10 employer businesses here. Typical sale multiple: 4.6x - 7.0x EBITDA.

  • Foundation & Site Prep: 7 employer businesses here. Typical sale multiple: 2.5x - 4.0x EBITDA + Fleet.

  • Electrical: 7 employer businesses here. Typical sale multiple: 4.0x - 8.0x EBITDA.

  • Interior Finishing: 5 employer businesses here. Typical sale multiple: 2.5x - 4.0x SDE.

  • Carpentry & Framing: 3 employer businesses here. Typical sale multiple: 2.5x - 4.0x SDE.

Restaurants & Food

57 related employer businesses in Lee County.

Financial & Professional Services

39 related employer businesses in Lee County.

Automotive & Boat

29 related employer businesses in Lee County.

  • Auto Repair: 14 employer businesses here. Typical sale multiple: 2.5x - 3.2x SDE.

  • Car Dealerships: 8 employer businesses here. Typical sale multiple: 2x - 8x Blue Sky + Assets.

  • Collision Repair: 4 employer businesses here. Typical sale multiple: 3.5x - 5.0x EBITDA.

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

Logistics & Transportation

28 related employer businesses in Lee County.

Medical Practices

27 related employer businesses in Lee County.

Retail Stores

24 related employer businesses in Lee County.

Entertainment & Recreation

21 related employer businesses in Lee County.

  • Bars & Pubs: 18 employer businesses here. Typical sale multiple: 2.0x - 4.0x SDE.

  • Clubs & Lounges: 18 employer businesses here. Typical sale multiple: 3.0x - 6.0x EBITDA.

  • Outdoor Recreation: 3 employer businesses here. Typical sale multiple: 2.0x - 4.0x SDE.

Gas Stations & Convenience

15 related employer businesses in Lee County.

  • Gas Stations: 15 employer businesses here. Typical sale multiple: 3.0x - 4.5x EBITDA + Real Estate.

Manufacturing

12 related employer businesses in Lee County.

Wholesale & Distribution

9 related employer businesses in Lee County.

Education & Childcare

7 related employer businesses in Lee County.

  • Daycare Centers: 7 employer businesses here. Typical sale multiple: 2.39x - 3.35x SDE.

Hospitality & Travel

5 related employer businesses in Lee County.

  • Hotels: 5 employer businesses here. Typical sale multiple: 2.6x - 5.1x EBITDA.

  • Motels: 5 employer businesses here. Typical sale multiple: 1.1x - 2.5x SDE.

Beauty & Personal Care

3 related employer businesses in Lee County.

  • Hair Salons: 3 employer businesses here. Typical sale multiple: 1.25x - 2.34x SDE.

Pharmacies & Medical Supply

3 related employer businesses in Lee County.

Senior Care & Living

3 related employer businesses in Lee County.

These are the industries in Lee 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

71 related employer businesses in Lee County.

  • General Contracting: 27 employer businesses here. Typical sale multiple: 3.0x - 4.5x SDE.

  • Landscaping: 12 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.

  • Plumbing: 10 employer businesses here. Typical sale multiple: 3.5x - 5.0x SDE.

  • HVAC Services: 10 employer businesses here. Typical sale multiple: 4.6x - 7.0x EBITDA.

  • Foundation & Site Prep: 7 employer businesses here. Typical sale multiple: 2.5x - 4.0x EBITDA + Fleet.

  • Electrical: 7 employer businesses here. Typical sale multiple: 4.0x - 8.0x EBITDA.

  • Interior Finishing: 5 employer businesses here. Typical sale multiple: 2.5x - 4.0x SDE.

  • Carpentry & Framing: 3 employer businesses here. Typical sale multiple: 2.5x - 4.0x SDE.

Restaurants & Food

57 related employer businesses in Lee County.

Financial & Professional Services

39 related employer businesses in Lee County.

Automotive & Boat

29 related employer businesses in Lee County.

  • Auto Repair: 14 employer businesses here. Typical sale multiple: 2.5x - 3.2x SDE.

  • Car Dealerships: 8 employer businesses here. Typical sale multiple: 2x - 8x Blue Sky + Assets.

  • Collision Repair: 4 employer businesses here. Typical sale multiple: 3.5x - 5.0x EBITDA.

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

Logistics & Transportation

28 related employer businesses in Lee County.

Medical Practices

27 related employer businesses in Lee County.

Retail Stores

24 related employer businesses in Lee County.

Entertainment & Recreation

21 related employer businesses in Lee County.

  • Bars & Pubs: 18 employer businesses here. Typical sale multiple: 2.0x - 4.0x SDE.

  • Clubs & Lounges: 18 employer businesses here. Typical sale multiple: 3.0x - 6.0x EBITDA.

  • Outdoor Recreation: 3 employer businesses here. Typical sale multiple: 2.0x - 4.0x SDE.

Gas Stations & Convenience

15 related employer businesses in Lee County.

  • Gas Stations: 15 employer businesses here. Typical sale multiple: 3.0x - 4.5x EBITDA + Real Estate.

Manufacturing

12 related employer businesses in Lee County.

Wholesale & Distribution

9 related employer businesses in Lee County.

Education & Childcare

7 related employer businesses in Lee County.

  • Daycare Centers: 7 employer businesses here. Typical sale multiple: 2.39x - 3.35x SDE.

Hospitality & Travel

5 related employer businesses in Lee County.

  • Hotels: 5 employer businesses here. Typical sale multiple: 2.6x - 5.1x EBITDA.

  • Motels: 5 employer businesses here. Typical sale multiple: 1.1x - 2.5x SDE.

Beauty & Personal Care

3 related employer businesses in Lee County.

  • Hair Salons: 3 employer businesses here. Typical sale multiple: 1.25x - 2.34x SDE.

Pharmacies & Medical Supply

3 related employer businesses in Lee County.

Senior Care & Living

3 related employer businesses in Lee County.

Working with owners in Lee County

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

FREQUENTLY ASKED QUESTIONS

Questions owners in Lee County ask

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

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

How is a business valued in Lee 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 Lee 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