Selling a Business in Steele County
Steele County has 1,024 employer businesses, and 84% 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.
Areas in Minnesota
LOCAL SNAPSHOT
Steele County by the numbers
1,024
1,024
EMPLOYER BUSINESSES
84%
84%
SMALL EMPLOYER SHARE
2,480
2,480
BUSINESSES WITH NO EMPLOYEES
18,853
18,853
EMPLOYMENT
$1.2 billion
$1.2 billion
ANNUAL PAYROLL
453
453
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 Steele County compares
Steele County ranks 25th of 87 Minnesota counties and county equivalents for employer businesses.
The number of employer businesses grew 1.9% between 2018 and 2023.
Transportation and warehousing makes up 6% of employer businesses in Steele County, compared with 3% in Minnesota.
453 employer businesses here have 5 to 49 employees.
Steele County ranks 25th of 87 Minnesota counties and county equivalents for employer businesses.
The number of employer businesses grew 1.9% between 2018 and 2023.
Transportation and warehousing makes up 6% of employer businesses in Steele County, compared with 3% in Minnesota.
453 employer businesses here have 5 to 49 employees.
Industry mix
The largest industries by number of employer businesses:
Retail: 145 employer businesses
Repair, personal care and other services: 138 employer businesses
Health care and social assistance: 129 employer businesses
Construction: 106 employer businesses
Accommodation and food service: 85 employer businesses
The largest industries by number of employer businesses:
Retail: 145 employer businesses
Repair, personal care and other services: 138 employer businesses
Health care and social assistance: 129 employer businesses
Construction: 106 employer businesses
Accommodation and food service: 85 employer businesses
INDUSTRIES
What sells in Steele County
Retail, repair, personal care and other services, health care and social assistance, construction
Every kind of business we sell in Steele County
These are the industries in Steele 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
100 related employer businesses in Steele County.
General Contracting: 31 employer businesses here. Typical sale multiple: 3.0x - 4.5x SDE.
Landscaping: 17 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Interior Finishing: 16 employer businesses here. Typical sale multiple: 2.5x - 4.0x SDE.
Foundation & Site Prep: 12 employer businesses here. Typical sale multiple: 2.5x - 4.0x EBITDA + Fleet.
Plumbing: 8 employer businesses here. Typical sale multiple: 3.5x - 5.0x SDE.
HVAC Services: 8 employer businesses here. Typical sale multiple: 4.6x - 7.0x EBITDA.
Electrical: 8 employer businesses here. Typical sale multiple: 4.0x - 8.0x EBITDA.
Masonry: 5 employer businesses here. Typical sale multiple: 2.5x - 4.0x EBITDA + Equipment.
Roofing & Siding: 3 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Restaurants & Food
70 related employer businesses in Steele County.
Full-Service Restaurants: 26 employer businesses here. Typical sale multiple: 1.5x - 2.5x SDE.
Quick-Service & Fast Food: 25 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Grocery Stores & Markets: 8 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE + Inventory.
Coffee Shops: 6 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE.
Liquor, Wine & Beer Stores: 5 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE + Inventory.
Financial & Professional Services
62 related employer businesses in Steele County.
Insurance Agencies: 26 employer businesses here. Typical sale multiple: 6.0x - 8.0x EBITDA.
Accounting & Tax Practices: 14 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE.
Wealth Management: 10 employer businesses here. Typical sale multiple: 2.7x - 4.0x Recurring Revenue.
Real Estate Brokerages: 8 employer businesses here. Typical sale multiple: 2.5x - 4.5x SDE.
Private Lending: 4 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Retail Stores
53 related employer businesses in Steele County.
Hardware, Garden & Building: 15 employer businesses here. Typical sale multiple: 2.5x - 3.8x SDE + Inventory.
Fashion, Apparel & Jewelry: 14 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE + Inventory.
Home Decor & Furniture: 12 employer businesses here. Typical sale multiple: 2.2x - 3.2x SDE + Inventory.
Health, Beauty & Pharmacy: 7 employer businesses here. Typical sale multiple: 2.8x - 4.2x EBITDA.
Sporting Goods & Firearms: 5 employer businesses here. Typical sale multiple: 2.3x - 3.4x SDE.
Automotive & Boat
40 related employer businesses in Steele County.
Auto Repair: 20 employer businesses here. Typical sale multiple: 2.5x - 3.2x SDE.
Auto Parts: 9 employer businesses here. Typical sale multiple: 2.5x - 3.2x SDE + Inventory.
Towing & Repo: 4 employer businesses here. Typical sale multiple: 3.0x - 4.0x EBITDA + Fleet.
Car Dealerships: 4 employer businesses here. Typical sale multiple: 2x - 8x Blue Sky + Assets.
Collision Repair: 3 employer businesses here. Typical sale multiple: 3.5x - 5.0x EBITDA.
Logistics & Transportation
39 related employer businesses in Steele County.
General Freight Trucking: 39 employer businesses here. Typical sale multiple: 2.44x - 3.45x SDE.
Manufacturing
35 related employer businesses in Steele County.
Metal Fabrication: 10 employer businesses here. Typical sale multiple: 3.2x - 4.2x SDE.
Printing & Plastics: 7 employer businesses here. Typical sale multiple: 2.9x - 4.9x SDE.
Food & Beverage Manufacturing: 5 employer businesses here. Typical sale multiple: 3.1x - 4.5x SDE.
Wood & Furniture Manufacturing: 5 employer businesses here. Typical sale multiple: 2.5x - 3.8x SDE.
Medical & Chemical Manufacturing: 4 employer businesses here. Typical sale multiple: 4.5x - 8.0x EBITDA.
Construction Materials Manufacturing: 4 employer businesses here. Typical sale multiple: 2.5x - 5.0x EBITDA.
Medical Practices
33 related employer businesses in Steele County.
Dental Practices: 19 employer businesses here. Typical sale multiple: 3.5x - 5.5x EBITDA.
Veterinary Medicine: 5 employer businesses here. Typical sale multiple: 6.0x - 9.0x EBITDA.
Vision & Eye Care: 3 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Physical Therapy & Rehab: 3 employer businesses here. Typical sale multiple: 3.5x - 5.0x EBITDA.
Home Health & Hospice: 3 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA.
Hospitality & Travel
19 related employer businesses in Steele County.
Hotels: 12 employer businesses here. Typical sale multiple: 2.6x - 5.1x EBITDA.
Motels: 12 employer businesses here. Typical sale multiple: 1.1x - 2.5x SDE.
Transportation Services: 7 employer businesses here. Typical sale multiple: 2.0x - 4.1x SDE.
Entertainment & Recreation
14 related employer businesses in Steele County.
Bars & Pubs: 6 employer businesses here. Typical sale multiple: 2.0x - 4.0x SDE.
Clubs & Lounges: 6 employer businesses here. Typical sale multiple: 3.0x - 6.0x EBITDA.
Outdoor Recreation: 4 employer businesses here. Typical sale multiple: 2.0x - 4.0x SDE.
Golf Courses: 4 employer businesses here. Typical sale multiple: 8.0x - 11.0x EBITDA.
Gas Stations & Convenience
14 related employer businesses in Steele County.
Gas Stations: 14 employer businesses here. Typical sale multiple: 3.0x - 4.5x EBITDA + Real Estate.
Beauty & Personal Care
13 related employer businesses in Steele County.
Hair Salons: 9 employer businesses here. Typical sale multiple: 1.25x - 2.34x SDE.
Nail Salons: 4 employer businesses here. Typical sale multiple: 1.4x - 1.88x SDE.
Home Services
13 related employer businesses in Steele County.
Residential Cleaning: 9 employer businesses here. Typical sale multiple: 1.5x - 2.6x SDE.
Commercial Cleaning: 9 employer businesses here. Typical sale multiple: 2.47x - 4.11x EBITDA.
Property Management: 4 employer businesses here. Typical sale multiple: 3.0x - 4.5x SDE.
Wholesale & Distribution
13 related employer businesses in Steele County.
Industrial & Construction Supply: 13 employer businesses here. Typical sale multiple: 3.0x - 4.0x SDE.
Senior Care & Living
12 related employer businesses in Steele County.
Non-Medical Home Care: 5 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Assisted Living Facilities: 4 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA + Real Estate.
Senior Living Communities: 3 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA + Real Estate.
Education & Childcare
6 related employer businesses in Steele County.
Daycare Centers: 6 employer businesses here. Typical sale multiple: 2.39x - 3.35x SDE.
Health & Fitness
6 related employer businesses in Steele County.
Gyms & Health Clubs: 6 employer businesses here. Typical sale multiple: 2.44x - 2.93x SDE.
Yoga Studios: 6 employer businesses here. Typical sale multiple: 2.07x - 2.50x SDE.
Pilates Studios: 6 employer businesses here. Typical sale multiple: 2.10x - 3.00x SDE.
Personal Training Studios: 6 employer businesses here. Typical sale multiple: 2.00x - 2.80x SDE.
Pharmacies & Medical Supply
6 related employer businesses in Steele County.
Compounding Pharmacies: 3 employer businesses here. Typical sale multiple: 3.5x - 5.5x EBITDA.
Specialty Pharmacies: 3 employer businesses here. Typical sale multiple: 4.0x - 6.5x EBITDA.
Home Infusion: 3 employer businesses here. Typical sale multiple: 4.0x - 6.5x EBITDA.
Pet Services
5 related employer businesses in Steele County.
Pet Grooming & Spas: 5 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE.
Boarding, Daycare & Training: 5 employer businesses here. Typical sale multiple: 3.0x - 4.5x EBITDA.
Energy & Utilities
3 related employer businesses in Steele County.
Propane & Fuel Distribution: 3 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA + Assets.
These are the industries in Steele 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
100 related employer businesses in Steele County.
General Contracting: 31 employer businesses here. Typical sale multiple: 3.0x - 4.5x SDE.
Landscaping: 17 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Interior Finishing: 16 employer businesses here. Typical sale multiple: 2.5x - 4.0x SDE.
Foundation & Site Prep: 12 employer businesses here. Typical sale multiple: 2.5x - 4.0x EBITDA + Fleet.
Plumbing: 8 employer businesses here. Typical sale multiple: 3.5x - 5.0x SDE.
HVAC Services: 8 employer businesses here. Typical sale multiple: 4.6x - 7.0x EBITDA.
Electrical: 8 employer businesses here. Typical sale multiple: 4.0x - 8.0x EBITDA.
Masonry: 5 employer businesses here. Typical sale multiple: 2.5x - 4.0x EBITDA + Equipment.
Roofing & Siding: 3 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Restaurants & Food
70 related employer businesses in Steele County.
Full-Service Restaurants: 26 employer businesses here. Typical sale multiple: 1.5x - 2.5x SDE.
Quick-Service & Fast Food: 25 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Grocery Stores & Markets: 8 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE + Inventory.
Coffee Shops: 6 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE.
Liquor, Wine & Beer Stores: 5 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE + Inventory.
Financial & Professional Services
62 related employer businesses in Steele County.
Insurance Agencies: 26 employer businesses here. Typical sale multiple: 6.0x - 8.0x EBITDA.
Accounting & Tax Practices: 14 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE.
Wealth Management: 10 employer businesses here. Typical sale multiple: 2.7x - 4.0x Recurring Revenue.
Real Estate Brokerages: 8 employer businesses here. Typical sale multiple: 2.5x - 4.5x SDE.
Private Lending: 4 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Retail Stores
53 related employer businesses in Steele County.
Hardware, Garden & Building: 15 employer businesses here. Typical sale multiple: 2.5x - 3.8x SDE + Inventory.
Fashion, Apparel & Jewelry: 14 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE + Inventory.
Home Decor & Furniture: 12 employer businesses here. Typical sale multiple: 2.2x - 3.2x SDE + Inventory.
Health, Beauty & Pharmacy: 7 employer businesses here. Typical sale multiple: 2.8x - 4.2x EBITDA.
Sporting Goods & Firearms: 5 employer businesses here. Typical sale multiple: 2.3x - 3.4x SDE.
Automotive & Boat
40 related employer businesses in Steele County.
Auto Repair: 20 employer businesses here. Typical sale multiple: 2.5x - 3.2x SDE.
Auto Parts: 9 employer businesses here. Typical sale multiple: 2.5x - 3.2x SDE + Inventory.
Towing & Repo: 4 employer businesses here. Typical sale multiple: 3.0x - 4.0x EBITDA + Fleet.
Car Dealerships: 4 employer businesses here. Typical sale multiple: 2x - 8x Blue Sky + Assets.
Collision Repair: 3 employer businesses here. Typical sale multiple: 3.5x - 5.0x EBITDA.
Logistics & Transportation
39 related employer businesses in Steele County.
General Freight Trucking: 39 employer businesses here. Typical sale multiple: 2.44x - 3.45x SDE.
Manufacturing
35 related employer businesses in Steele County.
Metal Fabrication: 10 employer businesses here. Typical sale multiple: 3.2x - 4.2x SDE.
Printing & Plastics: 7 employer businesses here. Typical sale multiple: 2.9x - 4.9x SDE.
Food & Beverage Manufacturing: 5 employer businesses here. Typical sale multiple: 3.1x - 4.5x SDE.
Wood & Furniture Manufacturing: 5 employer businesses here. Typical sale multiple: 2.5x - 3.8x SDE.
Medical & Chemical Manufacturing: 4 employer businesses here. Typical sale multiple: 4.5x - 8.0x EBITDA.
Construction Materials Manufacturing: 4 employer businesses here. Typical sale multiple: 2.5x - 5.0x EBITDA.
Medical Practices
33 related employer businesses in Steele County.
Dental Practices: 19 employer businesses here. Typical sale multiple: 3.5x - 5.5x EBITDA.
Veterinary Medicine: 5 employer businesses here. Typical sale multiple: 6.0x - 9.0x EBITDA.
Vision & Eye Care: 3 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Physical Therapy & Rehab: 3 employer businesses here. Typical sale multiple: 3.5x - 5.0x EBITDA.
Home Health & Hospice: 3 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA.
Hospitality & Travel
19 related employer businesses in Steele County.
Hotels: 12 employer businesses here. Typical sale multiple: 2.6x - 5.1x EBITDA.
Motels: 12 employer businesses here. Typical sale multiple: 1.1x - 2.5x SDE.
Transportation Services: 7 employer businesses here. Typical sale multiple: 2.0x - 4.1x SDE.
Entertainment & Recreation
14 related employer businesses in Steele County.
Bars & Pubs: 6 employer businesses here. Typical sale multiple: 2.0x - 4.0x SDE.
Clubs & Lounges: 6 employer businesses here. Typical sale multiple: 3.0x - 6.0x EBITDA.
Outdoor Recreation: 4 employer businesses here. Typical sale multiple: 2.0x - 4.0x SDE.
Golf Courses: 4 employer businesses here. Typical sale multiple: 8.0x - 11.0x EBITDA.
Gas Stations & Convenience
14 related employer businesses in Steele County.
Gas Stations: 14 employer businesses here. Typical sale multiple: 3.0x - 4.5x EBITDA + Real Estate.
Beauty & Personal Care
13 related employer businesses in Steele County.
Hair Salons: 9 employer businesses here. Typical sale multiple: 1.25x - 2.34x SDE.
Nail Salons: 4 employer businesses here. Typical sale multiple: 1.4x - 1.88x SDE.
Home Services
13 related employer businesses in Steele County.
Residential Cleaning: 9 employer businesses here. Typical sale multiple: 1.5x - 2.6x SDE.
Commercial Cleaning: 9 employer businesses here. Typical sale multiple: 2.47x - 4.11x EBITDA.
Property Management: 4 employer businesses here. Typical sale multiple: 3.0x - 4.5x SDE.
Wholesale & Distribution
13 related employer businesses in Steele County.
Industrial & Construction Supply: 13 employer businesses here. Typical sale multiple: 3.0x - 4.0x SDE.
Senior Care & Living
12 related employer businesses in Steele County.
Non-Medical Home Care: 5 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Assisted Living Facilities: 4 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA + Real Estate.
Senior Living Communities: 3 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA + Real Estate.
Education & Childcare
6 related employer businesses in Steele County.
Daycare Centers: 6 employer businesses here. Typical sale multiple: 2.39x - 3.35x SDE.
Health & Fitness
6 related employer businesses in Steele County.
Gyms & Health Clubs: 6 employer businesses here. Typical sale multiple: 2.44x - 2.93x SDE.
Yoga Studios: 6 employer businesses here. Typical sale multiple: 2.07x - 2.50x SDE.
Pilates Studios: 6 employer businesses here. Typical sale multiple: 2.10x - 3.00x SDE.
Personal Training Studios: 6 employer businesses here. Typical sale multiple: 2.00x - 2.80x SDE.
Pharmacies & Medical Supply
6 related employer businesses in Steele County.
Compounding Pharmacies: 3 employer businesses here. Typical sale multiple: 3.5x - 5.5x EBITDA.
Specialty Pharmacies: 3 employer businesses here. Typical sale multiple: 4.0x - 6.5x EBITDA.
Home Infusion: 3 employer businesses here. Typical sale multiple: 4.0x - 6.5x EBITDA.
Pet Services
5 related employer businesses in Steele County.
Pet Grooming & Spas: 5 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE.
Boarding, Daycare & Training: 5 employer businesses here. Typical sale multiple: 3.0x - 4.5x EBITDA.
Energy & Utilities
3 related employer businesses in Steele County.
Propane & Fuel Distribution: 3 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA + Assets.
Working with owners in Steele County
Business Advisors of America works with owners who are selling a business in Steele County. Contact us to talk about a sale.
FREQUENTLY ASKED QUESTIONS
Questions owners in Steele County ask
How long does it take to sell a business in Steele County?
The time depends on the price, the quality of the records and the number of qualified buyers.
How is a business valued in Steele 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 Steele 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