Selling a Business in Billings
Owners in the Billings area sell to local buyers and to buyers from other markets. The area has 6,797 employer businesses, and 88% of them have fewer than 20 employees. This page shows what is here and how a sale is handled.
LOCAL SNAPSHOT
Billings by the numbers
6,797
6,797
EMPLOYER BUSINESSES
88%
88%
SMALL EMPLOYER SHARE
16,800
16,800
BUSINESSES WITH NO EMPLOYEES
81,031
81,031
EMPLOYMENT
$4.7 billion
$4.7 billion
ANNUAL PAYROLL
2,710
2,710
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 Billings compares
The Billings area ranks 2nd of 5 Montana metro areas for employer businesses.
The number of employer businesses grew 7.7% between 2018 and 2023.
Wholesale makes up 5% of employer businesses in Billings, compared with 4% in Montana.
2,710 employer businesses here have 5 to 49 employees.
The Billings area ranks 2nd of 5 Montana metro areas for employer businesses.
The number of employer businesses grew 7.7% between 2018 and 2023.
Wholesale makes up 5% of employer businesses in Billings, compared with 4% in Montana.
2,710 employer businesses here have 5 to 49 employees.
Industry mix
The largest industries by number of employer businesses:
Construction: 935 employer businesses
Retail: 778 employer businesses
Health care and social assistance: 748 employer businesses
Professional and technical services: 657 employer businesses
Repair, personal care and other services: 629 employer businesses
The largest industries by number of employer businesses:
Construction: 935 employer businesses
Retail: 778 employer businesses
Health care and social assistance: 748 employer businesses
Professional and technical services: 657 employer businesses
Repair, personal care and other services: 629 employer businesses
What buyers look for
Buyers look first at profit that holds up under review. Three years of tax returns and profit and loss statements that match each other carry more weight than a high number that cannot be shown.
How much of the business depends on the owner
How concentrated sales are among a few customers
The lease, its remaining term and the landlord's consent to a sale
The condition of equipment and the contracts that transfer
Buyers look first at profit that holds up under review. Three years of tax returns and profit and loss statements that match each other carry more weight than a high number that cannot be shown.
How much of the business depends on the owner
How concentrated sales are among a few customers
The lease, its remaining term and the landlord's consent to a sale
The condition of equipment and the contracts that transfer
INDUSTRIES
What sells in Billings
Construction, retail, health care and social assistance, professional and technical services
Every kind of business we sell in Billings
We sell businesses in every one of these industries in Billings. 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
986 related employer businesses in Billings.
General Contracting: 295 employer businesses here. Typical sale multiple: 3.0x - 4.5x SDE.
Interior Finishing: 133 employer businesses here. Typical sale multiple: 2.5x - 4.0x SDE.
Landscaping: 115 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Plumbing: 107 employer businesses here. Typical sale multiple: 3.5x - 5.0x SDE.
HVAC Services: 107 employer businesses here. Typical sale multiple: 4.6x - 7.0x EBITDA.
Foundation & Site Prep: 95 employer businesses here. Typical sale multiple: 2.5x - 4.0x EBITDA + Fleet.
Electrical: 75 employer businesses here. Typical sale multiple: 4.0x - 8.0x EBITDA.
Civil Engineering: 64 employer businesses here. Typical sale multiple: 7.0x - 11.0x EBITDA.
Roofing & Siding: 63 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Carpentry & Framing: 21 employer businesses here. Typical sale multiple: 2.5x - 4.0x SDE.
Masonry: 13 employer businesses here. Typical sale multiple: 2.5x - 4.0x EBITDA + Equipment.
Remediation & Restoration: 5 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA.
Financial & Professional Services
505 related employer businesses in Billings.
Real Estate Brokerages: 201 employer businesses here. Typical sale multiple: 2.5x - 4.5x SDE.
Accounting & Tax Practices: 120 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE.
Insurance Agencies: 114 employer businesses here. Typical sale multiple: 6.0x - 8.0x EBITDA.
Wealth Management: 51 employer businesses here. Typical sale multiple: 2.7x - 4.0x Recurring Revenue.
Private Lending: 16 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Mortgage Brokerages: 3 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE.
Restaurants & Food
438 related employer businesses in Billings.
Full-Service Restaurants: 166 employer businesses here. Typical sale multiple: 1.5x - 2.5x SDE.
Quick-Service & Fast Food: 154 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Coffee Shops: 78 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE.
Grocery Stores & Markets: 24 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE + Inventory.
Liquor, Wine & Beer Stores: 13 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE + Inventory.
Bakeries: 3 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE.
Ghost Kitchens. Typical sale multiple: 2.0x - 3.0x SDE.
Medical Practices
411 related employer businesses in Billings.
Dental Practices: 105 employer businesses here. Typical sale multiple: 3.5x - 5.5x EBITDA.
Primary & Family Care: 98 employer businesses here. Typical sale multiple: 2.2x - 3.2x SDE.
Mental & Behavioral Health: 87 employer businesses here. Typical sale multiple: 2.5x - 4.0x SDE.
Veterinary Medicine: 35 employer businesses here. Typical sale multiple: 6.0x - 9.0x EBITDA.
Physical Therapy & Rehab: 29 employer businesses here. Typical sale multiple: 3.5x - 5.0x EBITDA.
Vision & Eye Care: 18 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Home Health & Hospice: 15 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA.
Medical Labs & Imaging: 12 employer businesses here. Typical sale multiple: 4.5x - 6.5x EBITDA.
Specialty Medicine: 6 employer businesses here. Typical sale multiple: 5.0x - 7.0x EBITDA.
Urgent Care Clinics: 6 employer businesses here. Typical sale multiple: 4.0x - 6.0x EBITDA.
Retail Stores
333 related employer businesses in Billings.
Hardware, Garden & Building: 82 employer businesses here. Typical sale multiple: 2.5x - 3.8x SDE + Inventory.
Fashion, Apparel & Jewelry: 78 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE + Inventory.
Health, Beauty & Pharmacy: 47 employer businesses here. Typical sale multiple: 2.8x - 4.2x EBITDA.
Home Decor & Furniture: 43 employer businesses here. Typical sale multiple: 2.2x - 3.2x SDE + Inventory.
Hobby, Toys & Gift Shops: 32 employer businesses here. Typical sale multiple: 1.8x - 2.8x SDE + Inventory.
Sporting Goods & Firearms: 26 employer businesses here. Typical sale multiple: 2.3x - 3.4x SDE.
Electronics & Repair: 25 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE.
Automotive & Boat
294 related employer businesses in Billings.
Auto Repair: 113 employer businesses here. Typical sale multiple: 2.5x - 3.2x SDE.
Car Dealerships: 58 employer businesses here. Typical sale multiple: 2x - 8x Blue Sky + Assets.
Auto Parts: 53 employer businesses here. Typical sale multiple: 2.5x - 3.2x SDE + Inventory.
Collision Repair: 30 employer businesses here. Typical sale multiple: 3.5x - 5.0x EBITDA.
Car Washes: 19 employer businesses here. Typical sale multiple: 4.5x - 7.0x EBITDA.
Towing & Repo: 18 employer businesses here. Typical sale multiple: 3.0x - 4.0x EBITDA + Fleet.
Boat Dealerships: 3 employer businesses here. Typical sale multiple: 3.0x - 4.5x EBITDA.
Logistics & Transportation
222 related employer businesses in Billings.
General Freight Trucking: 155 employer businesses here. Typical sale multiple: 2.44x - 3.45x SDE.
Heavy Haul Transport: 24 employer businesses here. Typical sale multiple: 3.5x - 4.5x SDE.
Freight Brokerage & 3PL: 17 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Last-Mile & Courier: 11 employer businesses here. Typical sale multiple: 2.76x - 3.32x SDE.
Commercial Moving: 8 employer businesses here. Typical sale multiple: 1.5x - 3.0x SDE.
Warehousing & Fulfillment: 7 employer businesses here. Typical sale multiple: 3.0x - 4.5x SDE.
Port Drayage. Typical sale multiple: 2.5x - 3.5x SDE.
Wholesale & Distribution
178 related employer businesses in Billings.
Industrial & Construction Supply: 104 employer businesses here. Typical sale multiple: 3.0x - 4.0x SDE.
Food & Beverage Distribution: 31 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Electronics, IT & Office Equipment Distribution: 26 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Chemicals, Plastics & Raw Materials Distribution: 9 employer businesses here. Typical sale multiple: 3.0x - 4.5x EBITDA.
Medical, Dental & Pharmaceutical Distribution: 4 employer businesses here. Typical sale multiple: 3.5x - 4.5x EBITDA.
Packaging, Paper & JanSan Distribution: 4 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Manufacturing
164 related employer businesses in Billings.
Metal Fabrication: 39 employer businesses here. Typical sale multiple: 3.2x - 4.2x SDE.
Food & Beverage Manufacturing: 36 employer businesses here. Typical sale multiple: 3.1x - 4.5x SDE.
Wood & Furniture Manufacturing: 29 employer businesses here. Typical sale multiple: 2.5x - 3.8x SDE.
Printing & Plastics: 24 employer businesses here. Typical sale multiple: 2.9x - 4.9x SDE.
Medical & Chemical Manufacturing: 17 employer businesses here. Typical sale multiple: 4.5x - 8.0x EBITDA.
Construction Materials Manufacturing: 14 employer businesses here. Typical sale multiple: 2.5x - 5.0x EBITDA.
Textile & Apparel Manufacturing: 5 employer businesses here. Typical sale multiple: 2.5x - 3.8x SDE.
Home Services
145 related employer businesses in Billings.
Residential Cleaning: 77 employer businesses here. Typical sale multiple: 1.5x - 2.6x SDE.
Commercial Cleaning: 77 employer businesses here. Typical sale multiple: 2.47x - 4.11x EBITDA.
Property Management: 56 employer businesses here. Typical sale multiple: 3.0x - 4.5x SDE.
Pest Control: 8 employer businesses here. Typical sale multiple: 2.34x - 2.90x SDE.
Security Systems: 4 employer businesses here. Typical sale multiple: 3.0x - 4.9x EBITDA.
Audio Visual (AV). Typical sale multiple: 3.0x - 5.0x EBITDA.
Junk Removal. Typical sale multiple: 1.5x - 3.0x SDE.
Pool & Spa Service. Typical sale multiple: 3.0x - 4.0x EBITDA.
Entertainment & Recreation
116 related employer businesses in Billings.
Bars & Pubs: 63 employer businesses here. Typical sale multiple: 2.0x - 4.0x SDE.
Clubs & Lounges: 63 employer businesses here. Typical sale multiple: 3.0x - 6.0x EBITDA.
Outdoor Recreation: 37 employer businesses here. Typical sale multiple: 2.0x - 4.0x SDE.
Golf Courses: 11 employer businesses here. Typical sale multiple: 8.0x - 11.0x EBITDA.
Bowling Alleys: 5 employer businesses here. Typical sale multiple: 3.0x - 5.0x EBITDA.
Event Venues. Typical sale multiple: 2.8x - 3.5x Earnings.
Banquet Halls. Typical sale multiple: 3.5x - 4.5x Earnings.
Escape Rooms. Typical sale multiple: 1.5x - 3.5x SDE.
Hospitality & Travel
91 related employer businesses in Billings.
Hotels: 72 employer businesses here. Typical sale multiple: 2.6x - 5.1x EBITDA.
Motels: 72 employer businesses here. Typical sale multiple: 1.1x - 2.5x SDE.
Transportation Services: 8 employer businesses here. Typical sale multiple: 2.0x - 4.1x SDE.
Campgrounds & RV Parks: 6 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA.
Travel Agencies: 5 employer businesses here. Typical sale multiple: 2.3x - 3.2x SDE.
Education & Childcare
87 related employer businesses in Billings.
Daycare Centers: 84 employer businesses here. Typical sale multiple: 2.39x - 3.35x SDE.
Tutoring Centers: 3 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE.
Preschools. Typical sale multiple: 3.12x - 4.0x SDE.
Energy & Utilities
77 related employer businesses in Billings.
Oil & Gas Services: 30 employer businesses here. Typical sale multiple: 3.0x - 5.0x EBITDA + Equipment.
Water & Wastewater Services: 20 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA.
Propane & Fuel Distribution: 18 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA + Assets.
Waste Management & Recycling: 9 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA + Assets.
Health & Fitness
74 related employer businesses in Billings.
Gyms & Health Clubs: 44 employer businesses here. Typical sale multiple: 2.44x - 2.93x SDE.
Yoga Studios: 44 employer businesses here. Typical sale multiple: 2.07x - 2.50x SDE.
Pilates Studios: 44 employer businesses here. Typical sale multiple: 2.10x - 3.00x SDE.
Personal Training Studios: 44 employer businesses here. Typical sale multiple: 2.00x - 2.80x SDE.
Wellness & Recovery Centers: 30 employer businesses here. Typical sale multiple: 5.5x - 9.7x EBITDA.
Beauty & Personal Care
72 related employer businesses in Billings.
Hair Salons: 40 employer businesses here. Typical sale multiple: 1.25x - 2.34x SDE.
Day Spas: 20 employer businesses here. Typical sale multiple: 1.8x - 2.8x SDE.
Tattoo Shops: 20 employer businesses here. Typical sale multiple: 1.5x - 2.5x SDE.
Massage Parlors: 20 employer businesses here. Typical sale multiple: 1.5x - 2.5x SDE.
Nail Salons: 8 employer businesses here. Typical sale multiple: 1.4x - 1.88x SDE.
Barber Shops: 4 employer businesses here. Typical sale multiple: 1.5x - 2.25x SDE.
Medical Spas. Typical sale multiple: 2.5x - 4.5x EBITDA.
Gas Stations & Convenience
72 related employer businesses in Billings.
Gas Stations: 68 employer businesses here. Typical sale multiple: 3.0x - 4.5x EBITDA + Real Estate.
Convenience Stores: 4 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE + Inventory.
Truck Stops & Travel Centers. Typical sale multiple: 3.5x - 5.5x EBITDA + Real Estate.
Technology & Media
59 related employer businesses in Billings.
Digital Marketing Agencies: 24 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE.
Creative Agencies: 15 employer businesses here. Typical sale multiple: 1.8x - 3.0x SDE.
Media, Film & Studio Production: 9 employer businesses here. Typical sale multiple: 2.2x - 3.5x SDE.
Real Estate Media: 7 employer businesses here. Typical sale multiple: 1.5x - 2.8x SDE.
Software Companies (SaaS): 4 employer businesses here. Typical sale multiple: 3.5x - 5.5x SDE.
E-commerce & Online Brands. Typical sale multiple: 2.5x - 4.0x SDE + Inventory.
Senior Care & Living
54 related employer businesses in Billings.
Non-Medical Home Care: 24 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Assisted Living Facilities: 22 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA + Real Estate.
Senior Living Communities: 8 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA + Real Estate.
Adult Day Services. Typical sale multiple: 2.5x - 4.0x SDE.
Pharmacies & Medical Supply
50 related employer businesses in Billings.
Compounding Pharmacies: 17 employer businesses here. Typical sale multiple: 3.5x - 5.5x EBITDA.
Specialty Pharmacies: 17 employer businesses here. Typical sale multiple: 4.0x - 6.5x EBITDA.
Home Infusion: 15 employer businesses here. Typical sale multiple: 4.0x - 6.5x EBITDA.
Durable Medical Equipment (DME): 10 employer businesses here. Typical sale multiple: 3.0x - 5.0x EBITDA.
Medical Supply Retail: 8 employer businesses here. Typical sale multiple: 2.5x - 4.0x SDE + Inventory.
Pet Services
34 related employer businesses in Billings.
Pet Grooming & Spas: 23 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE.
Boarding, Daycare & Training: 23 employer businesses here. Typical sale multiple: 3.0x - 4.5x EBITDA.
Pet Retail & Specialty Supplies: 11 employer businesses here. Typical sale multiple: 1.5x - 2.5x SDE + Inventory.
Mobile & In-Home Pet Care. Typical sale multiple: 1.5x - 2.5x SDE + Fleet.
E-commerce & Online Businesses
Amazon FBA Businesses. Typical sale multiple: 2.5x - 4.0x SDE + Inventory.
Online Marketplaces. Typical sale multiple: 3.5x - 6.0x SDE.
Land & Agriculture
Crop Production. Typical sale multiple: 4.5x - 6.69x EBITDA.
Livestock & Ranching. Typical sale multiple: 3.0x - 5.76x EBITDA.
Agribusiness & Infrastructure. Typical sale multiple: 5.2x - 10.3x EBITDA.
AgTech & Precision Ag. Typical sale multiple: 8.3x - 12.1x EBITDA.
Agri-Tourism & Lifestyle. Typical sale multiple: 2.51x - 4.54x SDE.
We sell businesses in every one of these industries in Billings. 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
986 related employer businesses in Billings.
General Contracting: 295 employer businesses here. Typical sale multiple: 3.0x - 4.5x SDE.
Interior Finishing: 133 employer businesses here. Typical sale multiple: 2.5x - 4.0x SDE.
Landscaping: 115 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Plumbing: 107 employer businesses here. Typical sale multiple: 3.5x - 5.0x SDE.
HVAC Services: 107 employer businesses here. Typical sale multiple: 4.6x - 7.0x EBITDA.
Foundation & Site Prep: 95 employer businesses here. Typical sale multiple: 2.5x - 4.0x EBITDA + Fleet.
Electrical: 75 employer businesses here. Typical sale multiple: 4.0x - 8.0x EBITDA.
Civil Engineering: 64 employer businesses here. Typical sale multiple: 7.0x - 11.0x EBITDA.
Roofing & Siding: 63 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Carpentry & Framing: 21 employer businesses here. Typical sale multiple: 2.5x - 4.0x SDE.
Masonry: 13 employer businesses here. Typical sale multiple: 2.5x - 4.0x EBITDA + Equipment.
Remediation & Restoration: 5 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA.
Financial & Professional Services
505 related employer businesses in Billings.
Real Estate Brokerages: 201 employer businesses here. Typical sale multiple: 2.5x - 4.5x SDE.
Accounting & Tax Practices: 120 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE.
Insurance Agencies: 114 employer businesses here. Typical sale multiple: 6.0x - 8.0x EBITDA.
Wealth Management: 51 employer businesses here. Typical sale multiple: 2.7x - 4.0x Recurring Revenue.
Private Lending: 16 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Mortgage Brokerages: 3 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE.
Restaurants & Food
438 related employer businesses in Billings.
Full-Service Restaurants: 166 employer businesses here. Typical sale multiple: 1.5x - 2.5x SDE.
Quick-Service & Fast Food: 154 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Coffee Shops: 78 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE.
Grocery Stores & Markets: 24 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE + Inventory.
Liquor, Wine & Beer Stores: 13 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE + Inventory.
Bakeries: 3 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE.
Ghost Kitchens. Typical sale multiple: 2.0x - 3.0x SDE.
Medical Practices
411 related employer businesses in Billings.
Dental Practices: 105 employer businesses here. Typical sale multiple: 3.5x - 5.5x EBITDA.
Primary & Family Care: 98 employer businesses here. Typical sale multiple: 2.2x - 3.2x SDE.
Mental & Behavioral Health: 87 employer businesses here. Typical sale multiple: 2.5x - 4.0x SDE.
Veterinary Medicine: 35 employer businesses here. Typical sale multiple: 6.0x - 9.0x EBITDA.
Physical Therapy & Rehab: 29 employer businesses here. Typical sale multiple: 3.5x - 5.0x EBITDA.
Vision & Eye Care: 18 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Home Health & Hospice: 15 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA.
Medical Labs & Imaging: 12 employer businesses here. Typical sale multiple: 4.5x - 6.5x EBITDA.
Specialty Medicine: 6 employer businesses here. Typical sale multiple: 5.0x - 7.0x EBITDA.
Urgent Care Clinics: 6 employer businesses here. Typical sale multiple: 4.0x - 6.0x EBITDA.
Retail Stores
333 related employer businesses in Billings.
Hardware, Garden & Building: 82 employer businesses here. Typical sale multiple: 2.5x - 3.8x SDE + Inventory.
Fashion, Apparel & Jewelry: 78 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE + Inventory.
Health, Beauty & Pharmacy: 47 employer businesses here. Typical sale multiple: 2.8x - 4.2x EBITDA.
Home Decor & Furniture: 43 employer businesses here. Typical sale multiple: 2.2x - 3.2x SDE + Inventory.
Hobby, Toys & Gift Shops: 32 employer businesses here. Typical sale multiple: 1.8x - 2.8x SDE + Inventory.
Sporting Goods & Firearms: 26 employer businesses here. Typical sale multiple: 2.3x - 3.4x SDE.
Electronics & Repair: 25 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE.
Automotive & Boat
294 related employer businesses in Billings.
Auto Repair: 113 employer businesses here. Typical sale multiple: 2.5x - 3.2x SDE.
Car Dealerships: 58 employer businesses here. Typical sale multiple: 2x - 8x Blue Sky + Assets.
Auto Parts: 53 employer businesses here. Typical sale multiple: 2.5x - 3.2x SDE + Inventory.
Collision Repair: 30 employer businesses here. Typical sale multiple: 3.5x - 5.0x EBITDA.
Car Washes: 19 employer businesses here. Typical sale multiple: 4.5x - 7.0x EBITDA.
Towing & Repo: 18 employer businesses here. Typical sale multiple: 3.0x - 4.0x EBITDA + Fleet.
Boat Dealerships: 3 employer businesses here. Typical sale multiple: 3.0x - 4.5x EBITDA.
Logistics & Transportation
222 related employer businesses in Billings.
General Freight Trucking: 155 employer businesses here. Typical sale multiple: 2.44x - 3.45x SDE.
Heavy Haul Transport: 24 employer businesses here. Typical sale multiple: 3.5x - 4.5x SDE.
Freight Brokerage & 3PL: 17 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Last-Mile & Courier: 11 employer businesses here. Typical sale multiple: 2.76x - 3.32x SDE.
Commercial Moving: 8 employer businesses here. Typical sale multiple: 1.5x - 3.0x SDE.
Warehousing & Fulfillment: 7 employer businesses here. Typical sale multiple: 3.0x - 4.5x SDE.
Port Drayage. Typical sale multiple: 2.5x - 3.5x SDE.
Wholesale & Distribution
178 related employer businesses in Billings.
Industrial & Construction Supply: 104 employer businesses here. Typical sale multiple: 3.0x - 4.0x SDE.
Food & Beverage Distribution: 31 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Electronics, IT & Office Equipment Distribution: 26 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Chemicals, Plastics & Raw Materials Distribution: 9 employer businesses here. Typical sale multiple: 3.0x - 4.5x EBITDA.
Medical, Dental & Pharmaceutical Distribution: 4 employer businesses here. Typical sale multiple: 3.5x - 4.5x EBITDA.
Packaging, Paper & JanSan Distribution: 4 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Manufacturing
164 related employer businesses in Billings.
Metal Fabrication: 39 employer businesses here. Typical sale multiple: 3.2x - 4.2x SDE.
Food & Beverage Manufacturing: 36 employer businesses here. Typical sale multiple: 3.1x - 4.5x SDE.
Wood & Furniture Manufacturing: 29 employer businesses here. Typical sale multiple: 2.5x - 3.8x SDE.
Printing & Plastics: 24 employer businesses here. Typical sale multiple: 2.9x - 4.9x SDE.
Medical & Chemical Manufacturing: 17 employer businesses here. Typical sale multiple: 4.5x - 8.0x EBITDA.
Construction Materials Manufacturing: 14 employer businesses here. Typical sale multiple: 2.5x - 5.0x EBITDA.
Textile & Apparel Manufacturing: 5 employer businesses here. Typical sale multiple: 2.5x - 3.8x SDE.
Home Services
145 related employer businesses in Billings.
Residential Cleaning: 77 employer businesses here. Typical sale multiple: 1.5x - 2.6x SDE.
Commercial Cleaning: 77 employer businesses here. Typical sale multiple: 2.47x - 4.11x EBITDA.
Property Management: 56 employer businesses here. Typical sale multiple: 3.0x - 4.5x SDE.
Pest Control: 8 employer businesses here. Typical sale multiple: 2.34x - 2.90x SDE.
Security Systems: 4 employer businesses here. Typical sale multiple: 3.0x - 4.9x EBITDA.
Audio Visual (AV). Typical sale multiple: 3.0x - 5.0x EBITDA.
Junk Removal. Typical sale multiple: 1.5x - 3.0x SDE.
Pool & Spa Service. Typical sale multiple: 3.0x - 4.0x EBITDA.
Entertainment & Recreation
116 related employer businesses in Billings.
Bars & Pubs: 63 employer businesses here. Typical sale multiple: 2.0x - 4.0x SDE.
Clubs & Lounges: 63 employer businesses here. Typical sale multiple: 3.0x - 6.0x EBITDA.
Outdoor Recreation: 37 employer businesses here. Typical sale multiple: 2.0x - 4.0x SDE.
Golf Courses: 11 employer businesses here. Typical sale multiple: 8.0x - 11.0x EBITDA.
Bowling Alleys: 5 employer businesses here. Typical sale multiple: 3.0x - 5.0x EBITDA.
Event Venues. Typical sale multiple: 2.8x - 3.5x Earnings.
Banquet Halls. Typical sale multiple: 3.5x - 4.5x Earnings.
Escape Rooms. Typical sale multiple: 1.5x - 3.5x SDE.
Hospitality & Travel
91 related employer businesses in Billings.
Hotels: 72 employer businesses here. Typical sale multiple: 2.6x - 5.1x EBITDA.
Motels: 72 employer businesses here. Typical sale multiple: 1.1x - 2.5x SDE.
Transportation Services: 8 employer businesses here. Typical sale multiple: 2.0x - 4.1x SDE.
Campgrounds & RV Parks: 6 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA.
Travel Agencies: 5 employer businesses here. Typical sale multiple: 2.3x - 3.2x SDE.
Education & Childcare
87 related employer businesses in Billings.
Daycare Centers: 84 employer businesses here. Typical sale multiple: 2.39x - 3.35x SDE.
Tutoring Centers: 3 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE.
Preschools. Typical sale multiple: 3.12x - 4.0x SDE.
Energy & Utilities
77 related employer businesses in Billings.
Oil & Gas Services: 30 employer businesses here. Typical sale multiple: 3.0x - 5.0x EBITDA + Equipment.
Water & Wastewater Services: 20 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA.
Propane & Fuel Distribution: 18 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA + Assets.
Waste Management & Recycling: 9 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA + Assets.
Health & Fitness
74 related employer businesses in Billings.
Gyms & Health Clubs: 44 employer businesses here. Typical sale multiple: 2.44x - 2.93x SDE.
Yoga Studios: 44 employer businesses here. Typical sale multiple: 2.07x - 2.50x SDE.
Pilates Studios: 44 employer businesses here. Typical sale multiple: 2.10x - 3.00x SDE.
Personal Training Studios: 44 employer businesses here. Typical sale multiple: 2.00x - 2.80x SDE.
Wellness & Recovery Centers: 30 employer businesses here. Typical sale multiple: 5.5x - 9.7x EBITDA.
Beauty & Personal Care
72 related employer businesses in Billings.
Hair Salons: 40 employer businesses here. Typical sale multiple: 1.25x - 2.34x SDE.
Day Spas: 20 employer businesses here. Typical sale multiple: 1.8x - 2.8x SDE.
Tattoo Shops: 20 employer businesses here. Typical sale multiple: 1.5x - 2.5x SDE.
Massage Parlors: 20 employer businesses here. Typical sale multiple: 1.5x - 2.5x SDE.
Nail Salons: 8 employer businesses here. Typical sale multiple: 1.4x - 1.88x SDE.
Barber Shops: 4 employer businesses here. Typical sale multiple: 1.5x - 2.25x SDE.
Medical Spas. Typical sale multiple: 2.5x - 4.5x EBITDA.
Gas Stations & Convenience
72 related employer businesses in Billings.
Gas Stations: 68 employer businesses here. Typical sale multiple: 3.0x - 4.5x EBITDA + Real Estate.
Convenience Stores: 4 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE + Inventory.
Truck Stops & Travel Centers. Typical sale multiple: 3.5x - 5.5x EBITDA + Real Estate.
Technology & Media
59 related employer businesses in Billings.
Digital Marketing Agencies: 24 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE.
Creative Agencies: 15 employer businesses here. Typical sale multiple: 1.8x - 3.0x SDE.
Media, Film & Studio Production: 9 employer businesses here. Typical sale multiple: 2.2x - 3.5x SDE.
Real Estate Media: 7 employer businesses here. Typical sale multiple: 1.5x - 2.8x SDE.
Software Companies (SaaS): 4 employer businesses here. Typical sale multiple: 3.5x - 5.5x SDE.
E-commerce & Online Brands. Typical sale multiple: 2.5x - 4.0x SDE + Inventory.
Senior Care & Living
54 related employer businesses in Billings.
Non-Medical Home Care: 24 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Assisted Living Facilities: 22 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA + Real Estate.
Senior Living Communities: 8 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA + Real Estate.
Adult Day Services. Typical sale multiple: 2.5x - 4.0x SDE.
Pharmacies & Medical Supply
50 related employer businesses in Billings.
Compounding Pharmacies: 17 employer businesses here. Typical sale multiple: 3.5x - 5.5x EBITDA.
Specialty Pharmacies: 17 employer businesses here. Typical sale multiple: 4.0x - 6.5x EBITDA.
Home Infusion: 15 employer businesses here. Typical sale multiple: 4.0x - 6.5x EBITDA.
Durable Medical Equipment (DME): 10 employer businesses here. Typical sale multiple: 3.0x - 5.0x EBITDA.
Medical Supply Retail: 8 employer businesses here. Typical sale multiple: 2.5x - 4.0x SDE + Inventory.
Pet Services
34 related employer businesses in Billings.
Pet Grooming & Spas: 23 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE.
Boarding, Daycare & Training: 23 employer businesses here. Typical sale multiple: 3.0x - 4.5x EBITDA.
Pet Retail & Specialty Supplies: 11 employer businesses here. Typical sale multiple: 1.5x - 2.5x SDE + Inventory.
Mobile & In-Home Pet Care. Typical sale multiple: 1.5x - 2.5x SDE + Fleet.
E-commerce & Online Businesses
Amazon FBA Businesses. Typical sale multiple: 2.5x - 4.0x SDE + Inventory.
Online Marketplaces. Typical sale multiple: 3.5x - 6.0x SDE.
Land & Agriculture
Crop Production. Typical sale multiple: 4.5x - 6.69x EBITDA.
Livestock & Ranching. Typical sale multiple: 3.0x - 5.76x EBITDA.
Agribusiness & Infrastructure. Typical sale multiple: 5.2x - 10.3x EBITDA.
AgTech & Precision Ag. Typical sale multiple: 8.3x - 12.1x EBITDA.
Agri-Tourism & Lifestyle. Typical sale multiple: 2.51x - 4.54x SDE.
Counties in this metro area
Working with owners in Billings
Business Advisors of America works with owners who are selling a business in Billings. Contact us to talk about a sale.
FREQUENTLY ASKED QUESTIONS
Questions owners in Billings ask
How long does it take to sell a business in Billings?
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 Billings?
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 Billings
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