Selling a Business in Winona County
Winona County has 1,145 employer businesses, and 83% 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 accommodation and food service.
Areas in Minnesota
LOCAL SNAPSHOT
Winona County by the numbers
1,145
1,145
EMPLOYER BUSINESSES
83%
83%
SMALL EMPLOYER SHARE
3,248
3,248
BUSINESSES WITH NO EMPLOYEES
23,937
23,937
EMPLOYMENT
$1.2 billion
$1.2 billion
ANNUAL PAYROLL
524
524
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 Winona County compares
Winona County ranks 24th of 87 Minnesota counties and county equivalents for employer businesses.
The number of employer businesses fell 0.8% between 2018 and 2023.
Manufacturing makes up 9% of employer businesses in Winona County, compared with 4% in Minnesota.
524 employer businesses here have 5 to 49 employees.
Winona County ranks 24th of 87 Minnesota counties and county equivalents for employer businesses.
The number of employer businesses fell 0.8% between 2018 and 2023.
Manufacturing makes up 9% of employer businesses in Winona County, compared with 4% in Minnesota.
524 employer businesses here have 5 to 49 employees.
Industry mix
The largest industries by number of employer businesses:
Retail: 146 employer businesses
Accommodation and food service: 132 employer businesses
Health care and social assistance: 132 employer businesses
Repair, personal care and other services: 131 employer businesses
Construction: 114 employer businesses
The largest industries by number of employer businesses:
Retail: 146 employer businesses
Accommodation and food service: 132 employer businesses
Health care and social assistance: 132 employer businesses
Repair, personal care and other services: 131 employer businesses
Construction: 114 employer businesses
INDUSTRIES
What sells in Winona County
Retail, accommodation and food service, health care and social assistance, repair, personal care and other services
Every kind of business we sell in Winona County
These are the industries in Winona 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
107 related employer businesses in Winona County.
General Contracting: 24 employer businesses here. Typical sale multiple: 3.0x - 4.5x SDE.
Electrical: 21 employer businesses here. Typical sale multiple: 4.0x - 8.0x EBITDA.
Foundation & Site Prep: 20 employer businesses here. Typical sale multiple: 2.5x - 4.0x EBITDA + Fleet.
Plumbing: 17 employer businesses here. Typical sale multiple: 3.5x - 5.0x SDE.
HVAC Services: 17 employer businesses here. Typical sale multiple: 4.6x - 7.0x EBITDA.
Interior Finishing: 11 employer businesses here. Typical sale multiple: 2.5x - 4.0x SDE.
Landscaping: 11 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Civil Engineering: 3 employer businesses here. Typical sale multiple: 7.0x - 11.0x EBITDA.
Restaurants & Food
91 related employer businesses in Winona County.
Full-Service Restaurants: 37 employer businesses here. Typical sale multiple: 1.5x - 2.5x SDE.
Quick-Service & Fast Food: 33 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Coffee Shops: 8 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE.
Liquor, Wine & Beer Stores: 7 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE + Inventory.
Grocery Stores & Markets: 6 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE + Inventory.
Manufacturing
61 related employer businesses in Winona County.
Metal Fabrication: 21 employer businesses here. Typical sale multiple: 3.2x - 4.2x SDE.
Food & Beverage Manufacturing: 10 employer businesses here. Typical sale multiple: 3.1x - 4.5x SDE.
Printing & Plastics: 9 employer businesses here. Typical sale multiple: 2.9x - 4.9x SDE.
Medical & Chemical Manufacturing: 7 employer businesses here. Typical sale multiple: 4.5x - 8.0x EBITDA.
Electronics & Tech Manufacturing: 7 employer businesses here. Typical sale multiple: 4.0x - 7.5x EBITDA.
Construction Materials Manufacturing: 4 employer businesses here. Typical sale multiple: 2.5x - 5.0x EBITDA.
Wood & Furniture Manufacturing: 3 employer businesses here. Typical sale multiple: 2.5x - 3.8x SDE.
Financial & Professional Services
55 related employer businesses in Winona County.
Insurance Agencies: 21 employer businesses here. Typical sale multiple: 6.0x - 8.0x EBITDA.
Accounting & Tax Practices: 13 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE.
Wealth Management: 13 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.
Automotive & Boat
50 related employer businesses in Winona County.
Auto Repair: 15 employer businesses here. Typical sale multiple: 2.5x - 3.2x SDE.
Car Dealerships: 11 employer businesses here. Typical sale multiple: 2x - 8x Blue Sky + Assets.
Collision Repair: 10 employer businesses here. Typical sale multiple: 3.5x - 5.0x EBITDA.
Auto Parts: 10 employer businesses here. Typical sale multiple: 2.5x - 3.2x SDE + Inventory.
Car Washes: 4 employer businesses here. Typical sale multiple: 4.5x - 7.0x EBITDA.
Retail Stores
46 related employer businesses in Winona County.
Hardware, Garden & Building: 20 employer businesses here. Typical sale multiple: 2.5x - 3.8x SDE + Inventory.
Fashion, Apparel & Jewelry: 9 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE + Inventory.
Hobby, Toys & Gift Shops: 7 employer businesses here. Typical sale multiple: 1.8x - 2.8x 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.
Logistics & Transportation
44 related employer businesses in Winona County.
General Freight Trucking: 34 employer businesses here. Typical sale multiple: 2.44x - 3.45x SDE.
Warehousing & Fulfillment: 7 employer businesses here. Typical sale multiple: 3.0x - 4.5x SDE.
Heavy Haul Transport: 3 employer businesses here. Typical sale multiple: 3.5x - 4.5x SDE.
Medical Practices
38 related employer businesses in Winona County.
Dental Practices: 15 employer businesses here. Typical sale multiple: 3.5x - 5.5x EBITDA.
Veterinary Medicine: 7 employer businesses here. Typical sale multiple: 6.0x - 9.0x EBITDA.
Primary & Family Care: 5 employer businesses here. Typical sale multiple: 2.2x - 3.2x SDE.
Physical Therapy & Rehab: 5 employer businesses here. Typical sale multiple: 3.5x - 5.0x EBITDA.
Mental & Behavioral Health: 3 employer businesses here. Typical sale multiple: 2.5x - 4.0x SDE.
Home Health & Hospice: 3 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA.
Entertainment & Recreation
37 related employer businesses in Winona County.
Bars & Pubs: 27 employer businesses here. Typical sale multiple: 2.0x - 4.0x SDE.
Clubs & Lounges: 27 employer businesses here. Typical sale multiple: 3.0x - 6.0x EBITDA.
Outdoor Recreation: 7 employer businesses here. Typical sale multiple: 2.0x - 4.0x SDE.
Golf Courses: 3 employer businesses here. Typical sale multiple: 8.0x - 11.0x EBITDA.
Gas Stations & Convenience
21 related employer businesses in Winona County.
Gas Stations: 21 employer businesses here. Typical sale multiple: 3.0x - 4.5x EBITDA + Real Estate.
Hospitality & Travel
20 related employer businesses in Winona County.
Hotels: 8 employer businesses here. Typical sale multiple: 2.6x - 5.1x EBITDA.
Motels: 8 employer businesses here. Typical sale multiple: 1.1x - 2.5x SDE.
Campgrounds & RV Parks: 6 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA.
Transportation Services: 6 employer businesses here. Typical sale multiple: 2.0x - 4.1x SDE.
Wholesale & Distribution
19 related employer businesses in Winona County.
Industrial & Construction Supply: 14 employer businesses here. Typical sale multiple: 3.0x - 4.0x SDE.
Food & Beverage Distribution: 5 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Beauty & Personal Care
16 related employer businesses in Winona County.
Hair Salons: 10 employer businesses here. Typical sale multiple: 1.25x - 2.34x SDE.
Day Spas: 3 employer businesses here. Typical sale multiple: 1.8x - 2.8x SDE.
Nail Salons: 3 employer businesses here. Typical sale multiple: 1.4x - 1.88x SDE.
Tattoo Shops: 3 employer businesses here. Typical sale multiple: 1.5x - 2.5x SDE.
Massage Parlors: 3 employer businesses here. Typical sale multiple: 1.5x - 2.5x SDE.
Health & Fitness
9 related employer businesses in Winona County.
Gyms & Health Clubs: 9 employer businesses here. Typical sale multiple: 2.44x - 2.93x SDE.
Yoga Studios: 9 employer businesses here. Typical sale multiple: 2.07x - 2.50x SDE.
Pilates Studios: 9 employer businesses here. Typical sale multiple: 2.10x - 3.00x SDE.
Personal Training Studios: 9 employer businesses here. Typical sale multiple: 2.00x - 2.80x SDE.
Senior Care & Living
8 related employer businesses in Winona County.
Assisted Living Facilities: 5 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA + Real Estate.
Non-Medical Home Care: 3 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Education & Childcare
6 related employer businesses in Winona County.
Daycare Centers: 6 employer businesses here. Typical sale multiple: 2.39x - 3.35x SDE.
Home Services
6 related employer businesses in Winona County.
Residential Cleaning: 6 employer businesses here. Typical sale multiple: 1.5x - 2.6x SDE.
Commercial Cleaning: 6 employer businesses here. Typical sale multiple: 2.47x - 4.11x EBITDA.
Pet Services
4 related employer businesses in Winona County.
Pet Grooming & Spas: 4 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE.
Boarding, Daycare & Training: 4 employer businesses here. Typical sale multiple: 3.0x - 4.5x EBITDA.
Pharmacies & Medical Supply
3 related employer businesses in Winona County.
Home Infusion: 3 employer businesses here. Typical sale multiple: 4.0x - 6.5x EBITDA.
Technology & Media
3 related employer businesses in Winona County.
Media, Film & Studio Production: 3 employer businesses here. Typical sale multiple: 2.2x - 3.5x SDE.
These are the industries in Winona 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
107 related employer businesses in Winona County.
General Contracting: 24 employer businesses here. Typical sale multiple: 3.0x - 4.5x SDE.
Electrical: 21 employer businesses here. Typical sale multiple: 4.0x - 8.0x EBITDA.
Foundation & Site Prep: 20 employer businesses here. Typical sale multiple: 2.5x - 4.0x EBITDA + Fleet.
Plumbing: 17 employer businesses here. Typical sale multiple: 3.5x - 5.0x SDE.
HVAC Services: 17 employer businesses here. Typical sale multiple: 4.6x - 7.0x EBITDA.
Interior Finishing: 11 employer businesses here. Typical sale multiple: 2.5x - 4.0x SDE.
Landscaping: 11 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Civil Engineering: 3 employer businesses here. Typical sale multiple: 7.0x - 11.0x EBITDA.
Restaurants & Food
91 related employer businesses in Winona County.
Full-Service Restaurants: 37 employer businesses here. Typical sale multiple: 1.5x - 2.5x SDE.
Quick-Service & Fast Food: 33 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Coffee Shops: 8 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE.
Liquor, Wine & Beer Stores: 7 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE + Inventory.
Grocery Stores & Markets: 6 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE + Inventory.
Manufacturing
61 related employer businesses in Winona County.
Metal Fabrication: 21 employer businesses here. Typical sale multiple: 3.2x - 4.2x SDE.
Food & Beverage Manufacturing: 10 employer businesses here. Typical sale multiple: 3.1x - 4.5x SDE.
Printing & Plastics: 9 employer businesses here. Typical sale multiple: 2.9x - 4.9x SDE.
Medical & Chemical Manufacturing: 7 employer businesses here. Typical sale multiple: 4.5x - 8.0x EBITDA.
Electronics & Tech Manufacturing: 7 employer businesses here. Typical sale multiple: 4.0x - 7.5x EBITDA.
Construction Materials Manufacturing: 4 employer businesses here. Typical sale multiple: 2.5x - 5.0x EBITDA.
Wood & Furniture Manufacturing: 3 employer businesses here. Typical sale multiple: 2.5x - 3.8x SDE.
Financial & Professional Services
55 related employer businesses in Winona County.
Insurance Agencies: 21 employer businesses here. Typical sale multiple: 6.0x - 8.0x EBITDA.
Accounting & Tax Practices: 13 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE.
Wealth Management: 13 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.
Automotive & Boat
50 related employer businesses in Winona County.
Auto Repair: 15 employer businesses here. Typical sale multiple: 2.5x - 3.2x SDE.
Car Dealerships: 11 employer businesses here. Typical sale multiple: 2x - 8x Blue Sky + Assets.
Collision Repair: 10 employer businesses here. Typical sale multiple: 3.5x - 5.0x EBITDA.
Auto Parts: 10 employer businesses here. Typical sale multiple: 2.5x - 3.2x SDE + Inventory.
Car Washes: 4 employer businesses here. Typical sale multiple: 4.5x - 7.0x EBITDA.
Retail Stores
46 related employer businesses in Winona County.
Hardware, Garden & Building: 20 employer businesses here. Typical sale multiple: 2.5x - 3.8x SDE + Inventory.
Fashion, Apparel & Jewelry: 9 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE + Inventory.
Hobby, Toys & Gift Shops: 7 employer businesses here. Typical sale multiple: 1.8x - 2.8x 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.
Logistics & Transportation
44 related employer businesses in Winona County.
General Freight Trucking: 34 employer businesses here. Typical sale multiple: 2.44x - 3.45x SDE.
Warehousing & Fulfillment: 7 employer businesses here. Typical sale multiple: 3.0x - 4.5x SDE.
Heavy Haul Transport: 3 employer businesses here. Typical sale multiple: 3.5x - 4.5x SDE.
Medical Practices
38 related employer businesses in Winona County.
Dental Practices: 15 employer businesses here. Typical sale multiple: 3.5x - 5.5x EBITDA.
Veterinary Medicine: 7 employer businesses here. Typical sale multiple: 6.0x - 9.0x EBITDA.
Primary & Family Care: 5 employer businesses here. Typical sale multiple: 2.2x - 3.2x SDE.
Physical Therapy & Rehab: 5 employer businesses here. Typical sale multiple: 3.5x - 5.0x EBITDA.
Mental & Behavioral Health: 3 employer businesses here. Typical sale multiple: 2.5x - 4.0x SDE.
Home Health & Hospice: 3 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA.
Entertainment & Recreation
37 related employer businesses in Winona County.
Bars & Pubs: 27 employer businesses here. Typical sale multiple: 2.0x - 4.0x SDE.
Clubs & Lounges: 27 employer businesses here. Typical sale multiple: 3.0x - 6.0x EBITDA.
Outdoor Recreation: 7 employer businesses here. Typical sale multiple: 2.0x - 4.0x SDE.
Golf Courses: 3 employer businesses here. Typical sale multiple: 8.0x - 11.0x EBITDA.
Gas Stations & Convenience
21 related employer businesses in Winona County.
Gas Stations: 21 employer businesses here. Typical sale multiple: 3.0x - 4.5x EBITDA + Real Estate.
Hospitality & Travel
20 related employer businesses in Winona County.
Hotels: 8 employer businesses here. Typical sale multiple: 2.6x - 5.1x EBITDA.
Motels: 8 employer businesses here. Typical sale multiple: 1.1x - 2.5x SDE.
Campgrounds & RV Parks: 6 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA.
Transportation Services: 6 employer businesses here. Typical sale multiple: 2.0x - 4.1x SDE.
Wholesale & Distribution
19 related employer businesses in Winona County.
Industrial & Construction Supply: 14 employer businesses here. Typical sale multiple: 3.0x - 4.0x SDE.
Food & Beverage Distribution: 5 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Beauty & Personal Care
16 related employer businesses in Winona County.
Hair Salons: 10 employer businesses here. Typical sale multiple: 1.25x - 2.34x SDE.
Day Spas: 3 employer businesses here. Typical sale multiple: 1.8x - 2.8x SDE.
Nail Salons: 3 employer businesses here. Typical sale multiple: 1.4x - 1.88x SDE.
Tattoo Shops: 3 employer businesses here. Typical sale multiple: 1.5x - 2.5x SDE.
Massage Parlors: 3 employer businesses here. Typical sale multiple: 1.5x - 2.5x SDE.
Health & Fitness
9 related employer businesses in Winona County.
Gyms & Health Clubs: 9 employer businesses here. Typical sale multiple: 2.44x - 2.93x SDE.
Yoga Studios: 9 employer businesses here. Typical sale multiple: 2.07x - 2.50x SDE.
Pilates Studios: 9 employer businesses here. Typical sale multiple: 2.10x - 3.00x SDE.
Personal Training Studios: 9 employer businesses here. Typical sale multiple: 2.00x - 2.80x SDE.
Senior Care & Living
8 related employer businesses in Winona County.
Assisted Living Facilities: 5 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA + Real Estate.
Non-Medical Home Care: 3 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Education & Childcare
6 related employer businesses in Winona County.
Daycare Centers: 6 employer businesses here. Typical sale multiple: 2.39x - 3.35x SDE.
Home Services
6 related employer businesses in Winona County.
Residential Cleaning: 6 employer businesses here. Typical sale multiple: 1.5x - 2.6x SDE.
Commercial Cleaning: 6 employer businesses here. Typical sale multiple: 2.47x - 4.11x EBITDA.
Pet Services
4 related employer businesses in Winona County.
Pet Grooming & Spas: 4 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE.
Boarding, Daycare & Training: 4 employer businesses here. Typical sale multiple: 3.0x - 4.5x EBITDA.
Pharmacies & Medical Supply
3 related employer businesses in Winona County.
Home Infusion: 3 employer businesses here. Typical sale multiple: 4.0x - 6.5x EBITDA.
Technology & Media
3 related employer businesses in Winona County.
Media, Film & Studio Production: 3 employer businesses here. Typical sale multiple: 2.2x - 3.5x SDE.
Working with owners in Winona County
Business Advisors of America works with owners who are selling a business in Winona County. Contact us to talk about a sale.
FREQUENTLY ASKED QUESTIONS
Questions owners in Winona County ask
How long does it take to sell a business in Winona County?
The time depends on the price, the quality of the records and the number of qualified buyers.
How is a business valued in Winona 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 Winona 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