Home

Sell a Business

Minnesota

Pennington County

Selling a Business in Pennington County

Pennington County has 365 employer businesses, and 85% of them have fewer than 20 employees. This page shows the local mix of industries and how a sale is handled here.

Get a Free Valuation

Areas in Minnesota

LOCAL SNAPSHOT

Pennington County by the numbers

365

EMPLOYER BUSINESSES

85%

SMALL EMPLOYER SHARE

842

BUSINESSES WITH NO EMPLOYEES

8,929

EMPLOYMENT

$538 million

ANNUAL PAYROLL

178

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 Pennington County compares

Pennington County ranks 60th of 87 Minnesota counties and county equivalents for employer businesses.
The number of employer businesses fell 3.9% between 2018 and 2023.
Transportation and warehousing makes up 6% of employer businesses in Pennington County, compared with 3% in Minnesota.
178 employer businesses here have 5 to 49 employees.

Pennington County ranks 60th of 87 Minnesota counties and county equivalents for employer businesses.
The number of employer businesses fell 3.9% between 2018 and 2023.
Transportation and warehousing makes up 6% of employer businesses in Pennington County, compared with 3% in Minnesota.
178 employer businesses here have 5 to 49 employees.

Industry mix

The largest industries by number of employer businesses:

Retail: 64 employer businesses
Repair, personal care and other services: 47 employer businesses
Health care and social assistance: 45 employer businesses
Accommodation and food service: 32 employer businesses
Construction: 30 employer businesses

The largest industries by number of employer businesses:

Retail: 64 employer businesses
Repair, personal care and other services: 47 employer businesses
Health care and social assistance: 45 employer businesses
Accommodation and food service: 32 employer businesses
Construction: 30 employer businesses

INDUSTRIES

What sells in Pennington County

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

Electronics & Repair

Retail Stores

Fashion, Apparel & Jewelry

Retail Stores

Barber Shops

Beauty & Personal Care

Day Spas

Beauty & Personal Care

Auto Parts

Automotive & Boat

Auto Repair

Automotive & Boat

Every kind of business we sell in Pennington County

We sell businesses in every one of these industries in Pennington County. 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

27 related employer businesses in Pennington County.

General Contracting: 12 employer businesses here. Typical sale multiple: 3.0x - 4.5x SDE.
Plumbing: 5 employer businesses here. Typical sale multiple: 3.5x - 5.0x SDE.
HVAC Services: 5 employer businesses here. Typical sale multiple: 4.6x - 7.0x EBITDA.
Electrical: 4 employer businesses here. Typical sale multiple: 4.0x - 8.0x EBITDA.
Landscaping: 3 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Foundation & Site Prep: 3 employer businesses here. Typical sale multiple: 2.5x - 4.0x EBITDA + Fleet.

Retail Stores

25 related employer businesses in Pennington County.

Hardware, Garden & Building: 10 employer businesses here. Typical sale multiple: 2.5x - 3.8x SDE + Inventory.
Fashion, Apparel & Jewelry: 5 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE + Inventory.
Health, Beauty & Pharmacy: 4 employer businesses here. Typical sale multiple: 2.8x - 4.2x EBITDA.
Home Decor & Furniture: 3 employer businesses here. Typical sale multiple: 2.2x - 3.2x SDE + Inventory.
Sporting Goods & Firearms: 3 employer businesses here. Typical sale multiple: 2.3x - 3.4x SDE.

Restaurants & Food

24 related employer businesses in Pennington County.

Full-Service Restaurants: 12 employer businesses here. Typical sale multiple: 1.5x - 2.5x SDE.
Quick-Service & Fast Food: 6 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Grocery Stores & Markets: 3 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE + Inventory.
Coffee Shops: 3 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE.

Financial & Professional Services

21 related employer businesses in Pennington County.

Insurance Agencies: 10 employer businesses here. Typical sale multiple: 6.0x - 8.0x EBITDA.
Accounting & Tax Practices: 6 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE.
Wealth Management: 5 employer businesses here. Typical sale multiple: 2.7x - 4.0x Recurring Revenue.

Automotive & Boat

14 related employer businesses in Pennington County.

Auto Repair: 6 employer businesses here. Typical sale multiple: 2.5x - 3.2x SDE.
Auto Parts: 4 employer businesses here. Typical sale multiple: 2.5x - 3.2x SDE + Inventory.
Car Dealerships: 4 employer businesses here. Typical sale multiple: 2x - 8x Blue Sky + Assets.

Medical Practices

11 related employer businesses in Pennington County.

Dental Practices: 5 employer businesses here. Typical sale multiple: 3.5x - 5.5x EBITDA.
Primary & Family Care: 3 employer businesses here. Typical sale multiple: 2.2x - 3.2x SDE.
Physical Therapy & Rehab: 3 employer businesses here. Typical sale multiple: 3.5x - 5.0x EBITDA.

Gas Stations & Convenience

10 related employer businesses in Pennington County.

Gas Stations: 10 employer businesses here. Typical sale multiple: 3.0x - 4.5x EBITDA + Real Estate.

Beauty & Personal Care

8 related employer businesses in Pennington County.

Hair Salons: 8 employer businesses here. Typical sale multiple: 1.25x - 2.34x SDE.

Logistics & Transportation

7 related employer businesses in Pennington County.

General Freight Trucking: 7 employer businesses here. Typical sale multiple: 2.44x - 3.45x SDE.

Manufacturing

7 related employer businesses in Pennington County.

Food & Beverage Manufacturing: 4 employer businesses here. Typical sale multiple: 3.1x - 4.5x SDE.
Metal Fabrication: 3 employer businesses here. Typical sale multiple: 3.2x - 4.2x SDE.

Hospitality & Travel

5 related employer businesses in Pennington 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.

Wholesale & Distribution

4 related employer businesses in Pennington County.

Industrial & Construction Supply: 4 employer businesses here. Typical sale multiple: 3.0x - 4.0x SDE.

Entertainment & Recreation

3 related employer businesses in Pennington County.

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

Home Services

3 related employer businesses in Pennington County.

Residential Cleaning: 3 employer businesses here. Typical sale multiple: 1.5x - 2.6x SDE.
Commercial Cleaning: 3 employer businesses here. Typical sale multiple: 2.47x - 4.11x EBITDA.

Construction & Engineering

27 related employer businesses in Pennington County.

General Contracting: 12 employer businesses here. Typical sale multiple: 3.0x - 4.5x SDE.
Plumbing: 5 employer businesses here. Typical sale multiple: 3.5x - 5.0x SDE.
HVAC Services: 5 employer businesses here. Typical sale multiple: 4.6x - 7.0x EBITDA.
Electrical: 4 employer businesses here. Typical sale multiple: 4.0x - 8.0x EBITDA.
Landscaping: 3 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Foundation & Site Prep: 3 employer businesses here. Typical sale multiple: 2.5x - 4.0x EBITDA + Fleet.

Retail Stores

25 related employer businesses in Pennington County.

Hardware, Garden & Building: 10 employer businesses here. Typical sale multiple: 2.5x - 3.8x SDE + Inventory.
Fashion, Apparel & Jewelry: 5 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE + Inventory.
Health, Beauty & Pharmacy: 4 employer businesses here. Typical sale multiple: 2.8x - 4.2x EBITDA.
Home Decor & Furniture: 3 employer businesses here. Typical sale multiple: 2.2x - 3.2x SDE + Inventory.
Sporting Goods & Firearms: 3 employer businesses here. Typical sale multiple: 2.3x - 3.4x SDE.

Restaurants & Food

24 related employer businesses in Pennington County.

Full-Service Restaurants: 12 employer businesses here. Typical sale multiple: 1.5x - 2.5x SDE.
Quick-Service & Fast Food: 6 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Grocery Stores & Markets: 3 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE + Inventory.
Coffee Shops: 3 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE.

Financial & Professional Services

21 related employer businesses in Pennington County.

Insurance Agencies: 10 employer businesses here. Typical sale multiple: 6.0x - 8.0x EBITDA.
Accounting & Tax Practices: 6 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE.
Wealth Management: 5 employer businesses here. Typical sale multiple: 2.7x - 4.0x Recurring Revenue.

Automotive & Boat

14 related employer businesses in Pennington County.

Auto Repair: 6 employer businesses here. Typical sale multiple: 2.5x - 3.2x SDE.
Auto Parts: 4 employer businesses here. Typical sale multiple: 2.5x - 3.2x SDE + Inventory.
Car Dealerships: 4 employer businesses here. Typical sale multiple: 2x - 8x Blue Sky + Assets.

Medical Practices

11 related employer businesses in Pennington County.

Dental Practices: 5 employer businesses here. Typical sale multiple: 3.5x - 5.5x EBITDA.
Primary & Family Care: 3 employer businesses here. Typical sale multiple: 2.2x - 3.2x SDE.
Physical Therapy & Rehab: 3 employer businesses here. Typical sale multiple: 3.5x - 5.0x EBITDA.

Gas Stations & Convenience

10 related employer businesses in Pennington County.

Gas Stations: 10 employer businesses here. Typical sale multiple: 3.0x - 4.5x EBITDA + Real Estate.

Beauty & Personal Care

8 related employer businesses in Pennington County.

Hair Salons: 8 employer businesses here. Typical sale multiple: 1.25x - 2.34x SDE.

Logistics & Transportation

7 related employer businesses in Pennington County.

General Freight Trucking: 7 employer businesses here. Typical sale multiple: 2.44x - 3.45x SDE.

Manufacturing

7 related employer businesses in Pennington County.

Food & Beverage Manufacturing: 4 employer businesses here. Typical sale multiple: 3.1x - 4.5x SDE.
Metal Fabrication: 3 employer businesses here. Typical sale multiple: 3.2x - 4.2x SDE.

Hospitality & Travel

5 related employer businesses in Pennington 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.

Wholesale & Distribution

4 related employer businesses in Pennington County.

Industrial & Construction Supply: 4 employer businesses here. Typical sale multiple: 3.0x - 4.0x SDE.

Entertainment & Recreation

3 related employer businesses in Pennington County.

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

Home Services

3 related employer businesses in Pennington County.

Residential Cleaning: 3 employer businesses here. Typical sale multiple: 1.5x - 2.6x SDE.
Commercial Cleaning: 3 employer businesses here. Typical sale multiple: 2.47x - 4.11x EBITDA.

Working with owners in Pennington County

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

Get a Free Valuation

FREQUENTLY ASKED QUESTIONS

Questions owners in Pennington County ask

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

The time depends on the price, the quality of the records and the number of qualified buyers. Many sales take six months or longer from the start of the process to closing.

How is a business valued in Pennington 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 Pennington 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