Selling a Business in Montana
Selling a business in Montana means pricing it correctly, preparing the records a buyer will ask for and finding a buyer who can pay and close. Montana has 42,566 employer businesses and about 111,818 more with no employees. This page covers the numbers, the steps and what buyers look for.
LOCAL SNAPSHOT
Montana by the numbers
42,566
42,566
EMPLOYER BUSINESSES
90%
90%
SMALL EMPLOYER SHARE
111,818
111,818
BUSINESSES WITH NO EMPLOYEES
409,312
409,312
EMPLOYMENT
$21.7 billion
$21.7 billion
ANNUAL PAYROLL
15,474
15,474
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 Montana compares
Montana ranks 40th among the 50 states and the District of Columbia for employer businesses.
The number of employer businesses grew 9.9% between 2018 and 2023.
Construction makes up 16% of employer businesses in Montana, compared with 10% nationwide.
15,474 employer businesses here have 5 to 49 employees.
Montana ranks 40th among the 50 states and the District of Columbia for employer businesses.
The number of employer businesses grew 9.9% between 2018 and 2023.
Construction makes up 16% of employer businesses in Montana, compared with 10% nationwide.
15,474 employer businesses here have 5 to 49 employees.
How a sale works in Montana
A sale follows the same sequence in every market. The business is valued from its earnings, assets, size and industry. The records a buyer will ask for are prepared. The business is marketed without naming it, and buyers are asked to sign a non-disclosure agreement before they see the name or the financial statements. Each buyer is checked for money and fit, the letter of intent is negotiated, the buyer's review of the books is managed, and the sale is carried to closing.
State rules on tax clearance, bulk sale notices and the transfer of permits and licenses differ from state to state.
Rules that apply in Montana
Sales tax and the buyer's liability
Montana's sales tax law covers accommodations, campgrounds and rental vehicles. For that tax, Montana law says a buyer of the business is liable for the full amount of the seller's unpaid tax and shall hold back enough of the price to pay it until the seller produces a Department of Revenue receipt or a statement that no tax is due. The buyer is not liable if it gives the Department written notice of the purchase and no assessment against the seller is issued within six months. Source: Montana Legislature statute text, Montana Code Annotated 15-68-808
Permits and registrations
Montana law says the seller's permit required for businesses subject to its accommodations and rental vehicle sales tax is not assignable. The permit is valid only for the person named on it and for the place of business it lists. Source: Montana Legislature statute text, Montana Code Annotated 15-68-401
Unemployment insurance account
Montana law says that when a buyer acquires all or part of a business and the two employers are under substantially common ownership, management or control, the seller's unemployment insurance experience record must transfer to the buyer. When they are not commonly owned, the seller and buyer may choose to transfer the record if the buyer continues the business, by joint application within 90 days of the purchase and with Department approval. Source: Montana Legislature statute text, Montana Code Annotated 39-51-1219
These points come from official Montana agency pages checked on 2026-10-24. Rules change, so check the linked agency page for the current version. This is general information and not legal or tax advice.
A sale follows the same sequence in every market. The business is valued from its earnings, assets, size and industry. The records a buyer will ask for are prepared. The business is marketed without naming it, and buyers are asked to sign a non-disclosure agreement before they see the name or the financial statements. Each buyer is checked for money and fit, the letter of intent is negotiated, the buyer's review of the books is managed, and the sale is carried to closing.
State rules on tax clearance, bulk sale notices and the transfer of permits and licenses differ from state to state.
Rules that apply in Montana
Sales tax and the buyer's liability
Montana's sales tax law covers accommodations, campgrounds and rental vehicles. For that tax, Montana law says a buyer of the business is liable for the full amount of the seller's unpaid tax and shall hold back enough of the price to pay it until the seller produces a Department of Revenue receipt or a statement that no tax is due. The buyer is not liable if it gives the Department written notice of the purchase and no assessment against the seller is issued within six months. Source: Montana Legislature statute text, Montana Code Annotated 15-68-808
Permits and registrations
Montana law says the seller's permit required for businesses subject to its accommodations and rental vehicle sales tax is not assignable. The permit is valid only for the person named on it and for the place of business it lists. Source: Montana Legislature statute text, Montana Code Annotated 15-68-401
Unemployment insurance account
Montana law says that when a buyer acquires all or part of a business and the two employers are under substantially common ownership, management or control, the seller's unemployment insurance experience record must transfer to the buyer. When they are not commonly owned, the seller and buyer may choose to transfer the record if the buyer continues the business, by joint application within 90 days of the purchase and with Department approval. Source: Montana Legislature statute text, Montana Code Annotated 39-51-1219
These points come from official Montana agency pages checked on 2026-10-24. Rules change, so check the linked agency page for the current version. This is general information and not legal or tax advice.
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 Montana
Construction, retail, health care and social assistance, professional and technical services
Every kind of business we sell in Montana
We sell businesses in every one of these industries in Montana. 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
7,057 related employer businesses in Montana.
General Contracting: 2,283 employer businesses here. Typical sale multiple: 3.0x - 4.5x SDE.
Interior Finishing: 1,024 employer businesses here. Typical sale multiple: 2.5x - 4.0x SDE.
Foundation & Site Prep: 777 employer businesses here. Typical sale multiple: 2.5x - 4.0x EBITDA + Fleet.
Plumbing: 712 employer businesses here. Typical sale multiple: 3.5x - 5.0x SDE.
HVAC Services: 712 employer businesses here. Typical sale multiple: 4.6x - 7.0x EBITDA.
Landscaping: 694 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Electrical: 549 employer businesses here. Typical sale multiple: 4.0x - 8.0x EBITDA.
Civil Engineering: 389 employer businesses here. Typical sale multiple: 7.0x - 11.0x EBITDA.
Roofing & Siding: 266 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Carpentry & Framing: 212 employer businesses here. Typical sale multiple: 2.5x - 4.0x SDE.
Masonry: 116 employer businesses here. Typical sale multiple: 2.5x - 4.0x EBITDA + Equipment.
Remediation & Restoration: 35 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA.
Financial & Professional Services
2,888 related employer businesses in Montana.
Real Estate Brokerages: 1,100 employer businesses here. Typical sale multiple: 2.5x - 4.5x SDE.
Accounting & Tax Practices: 736 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE.
Insurance Agencies: 645 employer businesses here. Typical sale multiple: 6.0x - 8.0x EBITDA.
Wealth Management: 287 employer businesses here. Typical sale multiple: 2.7x - 4.0x Recurring Revenue.
Private Lending: 98 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Mortgage Brokerages: 22 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE.
Restaurants & Food
2,649 related employer businesses in Montana.
Full-Service Restaurants: 1,060 employer businesses here. Typical sale multiple: 1.5x - 2.5x SDE.
Quick-Service & Fast Food: 806 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Coffee Shops: 427 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE.
Grocery Stores & Markets: 260 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE + Inventory.
Liquor, Wine & Beer Stores: 82 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE + Inventory.
Bakeries: 14 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE.
Ghost Kitchens. Typical sale multiple: 2.0x - 3.0x SDE.
Medical Practices
2,310 related employer businesses in Montana.
Dental Practices: 529 employer businesses here. Typical sale multiple: 3.5x - 5.5x EBITDA.
Mental & Behavioral Health: 501 employer businesses here. Typical sale multiple: 2.5x - 4.0x SDE.
Primary & Family Care: 453 employer businesses here. Typical sale multiple: 2.2x - 3.2x SDE.
Physical Therapy & Rehab: 265 employer businesses here. Typical sale multiple: 3.5x - 5.0x EBITDA.
Veterinary Medicine: 230 employer businesses here. Typical sale multiple: 6.0x - 9.0x EBITDA.
Home Health & Hospice: 102 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA.
Vision & Eye Care: 94 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Specialty Medicine: 55 employer businesses here. Typical sale multiple: 5.0x - 7.0x EBITDA.
Urgent Care Clinics: 44 employer businesses here. Typical sale multiple: 4.0x - 6.0x EBITDA.
Medical Labs & Imaging: 37 employer businesses here. Typical sale multiple: 4.5x - 6.5x EBITDA.
Retail Stores
1,898 related employer businesses in Montana.
Hardware, Garden & Building: 539 employer businesses here. Typical sale multiple: 2.5x - 3.8x SDE + Inventory.
Fashion, Apparel & Jewelry: 382 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE + Inventory.
Home Decor & Furniture: 250 employer businesses here. Typical sale multiple: 2.2x - 3.2x SDE + Inventory.
Health, Beauty & Pharmacy: 240 employer businesses here. Typical sale multiple: 2.8x - 4.2x EBITDA.
Sporting Goods & Firearms: 194 employer businesses here. Typical sale multiple: 2.3x - 3.4x SDE.
Hobby, Toys & Gift Shops: 174 employer businesses here. Typical sale multiple: 1.8x - 2.8x SDE + Inventory.
Electronics & Repair: 119 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE.
Automotive & Boat
1,422 related employer businesses in Montana.
Auto Repair: 592 employer businesses here. Typical sale multiple: 2.5x - 3.2x SDE.
Auto Parts: 237 employer businesses here. Typical sale multiple: 2.5x - 3.2x SDE + Inventory.
Car Dealerships: 213 employer businesses here. Typical sale multiple: 2x - 8x Blue Sky + Assets.
Collision Repair: 179 employer businesses here. Typical sale multiple: 3.5x - 5.0x EBITDA.
Car Washes: 106 employer businesses here. Typical sale multiple: 4.5x - 7.0x EBITDA.
Towing & Repo: 71 employer businesses here. Typical sale multiple: 3.0x - 4.0x EBITDA + Fleet.
Boat Dealerships: 15 employer businesses here. Typical sale multiple: 3.0x - 4.5x EBITDA.
Marinas: 9 employer businesses here. Typical sale multiple: Cap Rate or 4.0x - 7.0x EBITDA.
Manufacturing
1,174 related employer businesses in Montana.
Food & Beverage Manufacturing: 296 employer businesses here. Typical sale multiple: 3.1x - 4.5x SDE.
Wood & Furniture Manufacturing: 255 employer businesses here. Typical sale multiple: 2.5x - 3.8x SDE.
Metal Fabrication: 243 employer businesses here. Typical sale multiple: 3.2x - 4.2x SDE.
Printing & Plastics: 121 employer businesses here. Typical sale multiple: 2.9x - 4.9x SDE.
Medical & Chemical Manufacturing: 100 employer businesses here. Typical sale multiple: 4.5x - 8.0x EBITDA.
Construction Materials Manufacturing: 87 employer businesses here. Typical sale multiple: 2.5x - 5.0x EBITDA.
Textile & Apparel Manufacturing: 43 employer businesses here. Typical sale multiple: 2.5x - 3.8x SDE.
Electronics & Tech Manufacturing: 29 employer businesses here. Typical sale multiple: 4.0x - 7.5x EBITDA.
Logistics & Transportation
1,150 related employer businesses in Montana.
General Freight Trucking: 836 employer businesses here. Typical sale multiple: 2.44x - 3.45x SDE.
Heavy Haul Transport: 89 employer businesses here. Typical sale multiple: 3.5x - 4.5x SDE.
Last-Mile & Courier: 80 employer businesses here. Typical sale multiple: 2.76x - 3.32x SDE.
Freight Brokerage & 3PL: 65 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Warehousing & Fulfillment: 39 employer businesses here. Typical sale multiple: 3.0x - 4.5x SDE.
Commercial Moving: 36 employer businesses here. Typical sale multiple: 1.5x - 3.0x SDE.
NEMT & Passenger Transport: 5 employer businesses here. Typical sale multiple: 2.1x - 3.1x SDE.
Port Drayage. Typical sale multiple: 2.5x - 3.5x SDE.
Entertainment & Recreation
1,008 related employer businesses in Montana.
Bars & Pubs: 541 employer businesses here. Typical sale multiple: 2.0x - 4.0x SDE.
Clubs & Lounges: 541 employer businesses here. Typical sale multiple: 3.0x - 6.0x EBITDA.
Outdoor Recreation: 340 employer businesses here. Typical sale multiple: 2.0x - 4.0x SDE.
Golf Courses: 81 employer businesses here. Typical sale multiple: 8.0x - 11.0x EBITDA.
Bowling Alleys: 35 employer businesses here. Typical sale multiple: 3.0x - 5.0x EBITDA.
Arcades & FECs: 11 employer businesses here. Typical sale multiple: 2.1x - 3.6x SDE.
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.
Home Services
920 related employer businesses in Montana.
Residential Cleaning: 509 employer businesses here. Typical sale multiple: 1.5x - 2.6x SDE.
Commercial Cleaning: 509 employer businesses here. Typical sale multiple: 2.47x - 4.11x EBITDA.
Property Management: 339 employer businesses here. Typical sale multiple: 3.0x - 4.5x SDE.
Pest Control: 45 employer businesses here. Typical sale multiple: 2.34x - 2.90x SDE.
Security Systems: 27 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.
Hospitality & Travel
777 related employer businesses in Montana.
Hotels: 531 employer businesses here. Typical sale multiple: 2.6x - 5.1x EBITDA.
Motels: 531 employer businesses here. Typical sale multiple: 1.1x - 2.5x SDE.
Transportation Services: 91 employer businesses here. Typical sale multiple: 2.0x - 4.1x SDE.
Campgrounds & RV Parks: 84 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA.
Travel Agencies: 44 employer businesses here. Typical sale multiple: 2.3x - 3.2x SDE.
Bed & Breakfasts / Inns: 27 employer businesses here. Typical sale multiple: 2.0x - 4.0x SDE.
Wholesale & Distribution
713 related employer businesses in Montana.
Industrial & Construction Supply: 326 employer businesses here. Typical sale multiple: 3.0x - 4.0x SDE.
Food & Beverage Distribution: 162 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Electronics, IT & Office Equipment Distribution: 118 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Chemicals, Plastics & Raw Materials Distribution: 39 employer businesses here. Typical sale multiple: 3.0x - 4.5x EBITDA.
Medical, Dental & Pharmaceutical Distribution: 31 employer businesses here. Typical sale multiple: 3.5x - 4.5x EBITDA.
Packaging, Paper & JanSan Distribution: 22 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Consumer Goods & Apparel Distribution: 15 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE + Inventory.
Energy & Utilities
530 related employer businesses in Montana.
Water & Wastewater Services: 171 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA.
Oil & Gas Services: 167 employer businesses here. Typical sale multiple: 3.0x - 5.0x EBITDA + Equipment.
Propane & Fuel Distribution: 118 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA + Assets.
Waste Management & Recycling: 69 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA + Assets.
Solar & Renewable Energy: 5 employer businesses here. Typical sale multiple: 3.5x - 6.0x EBITDA.
Gas Stations & Convenience
517 related employer businesses in Montana.
Gas Stations: 489 employer businesses here. Typical sale multiple: 3.0x - 4.5x EBITDA + Real Estate.
Convenience Stores: 28 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.
Education & Childcare
516 related employer businesses in Montana.
Daycare Centers: 488 employer businesses here. Typical sale multiple: 2.39x - 3.35x SDE.
Tutoring Centers: 28 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE.
Preschools. Typical sale multiple: 3.12x - 4.0x SDE.
Technology & Media
514 related employer businesses in Montana.
Creative Agencies: 136 employer businesses here. Typical sale multiple: 1.8x - 3.0x SDE.
Digital Marketing Agencies: 118 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE.
Media, Film & Studio Production: 108 employer businesses here. Typical sale multiple: 2.2x - 3.5x SDE.
Real Estate Media: 97 employer businesses here. Typical sale multiple: 1.5x - 2.8x SDE.
Software Companies (SaaS): 55 employer businesses here. Typical sale multiple: 3.5x - 5.5x SDE.
E-commerce & Online Brands. Typical sale multiple: 2.5x - 4.0x SDE + Inventory.
Beauty & Personal Care
382 related employer businesses in Montana.
Hair Salons: 224 employer businesses here. Typical sale multiple: 1.25x - 2.34x SDE.
Day Spas: 102 employer businesses here. Typical sale multiple: 1.8x - 2.8x SDE.
Tattoo Shops: 102 employer businesses here. Typical sale multiple: 1.5x - 2.5x SDE.
Massage Parlors: 102 employer businesses here. Typical sale multiple: 1.5x - 2.5x SDE.
Nail Salons: 39 employer businesses here. Typical sale multiple: 1.4x - 1.88x SDE.
Barber Shops: 17 employer businesses here. Typical sale multiple: 1.5x - 2.25x SDE.
Medical Spas. Typical sale multiple: 2.5x - 4.5x EBITDA.
Health & Fitness
362 related employer businesses in Montana.
Gyms & Health Clubs: 215 employer businesses here. Typical sale multiple: 2.44x - 2.93x SDE.
Yoga Studios: 215 employer businesses here. Typical sale multiple: 2.07x - 2.50x SDE.
Pilates Studios: 215 employer businesses here. Typical sale multiple: 2.10x - 3.00x SDE.
Personal Training Studios: 215 employer businesses here. Typical sale multiple: 2.00x - 2.80x SDE.
Wellness & Recovery Centers: 147 employer businesses here. Typical sale multiple: 5.5x - 9.7x EBITDA.
Pharmacies & Medical Supply
312 related employer businesses in Montana.
Compounding Pharmacies: 112 employer businesses here. Typical sale multiple: 3.5x - 5.5x EBITDA.
Specialty Pharmacies: 112 employer businesses here. Typical sale multiple: 4.0x - 6.5x EBITDA.
Home Infusion: 102 employer businesses here. Typical sale multiple: 4.0x - 6.5x EBITDA.
Durable Medical Equipment (DME): 64 employer businesses here. Typical sale multiple: 3.0x - 5.0x EBITDA.
Medical Supply Retail: 34 employer businesses here. Typical sale multiple: 2.5x - 4.0x SDE + Inventory.
Senior Care & Living
302 related employer businesses in Montana.
Non-Medical Home Care: 170 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Assisted Living Facilities: 106 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA + Real Estate.
Senior Living Communities: 26 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA + Real Estate.
Adult Day Services. Typical sale multiple: 2.5x - 4.0x SDE.
Pet Services
161 related employer businesses in Montana.
Pet Grooming & Spas: 122 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE.
Boarding, Daycare & Training: 122 employer businesses here. Typical sale multiple: 3.0x - 4.5x EBITDA.
Pet Retail & Specialty Supplies: 39 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 Montana. 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
7,057 related employer businesses in Montana.
General Contracting: 2,283 employer businesses here. Typical sale multiple: 3.0x - 4.5x SDE.
Interior Finishing: 1,024 employer businesses here. Typical sale multiple: 2.5x - 4.0x SDE.
Foundation & Site Prep: 777 employer businesses here. Typical sale multiple: 2.5x - 4.0x EBITDA + Fleet.
Plumbing: 712 employer businesses here. Typical sale multiple: 3.5x - 5.0x SDE.
HVAC Services: 712 employer businesses here. Typical sale multiple: 4.6x - 7.0x EBITDA.
Landscaping: 694 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Electrical: 549 employer businesses here. Typical sale multiple: 4.0x - 8.0x EBITDA.
Civil Engineering: 389 employer businesses here. Typical sale multiple: 7.0x - 11.0x EBITDA.
Roofing & Siding: 266 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Carpentry & Framing: 212 employer businesses here. Typical sale multiple: 2.5x - 4.0x SDE.
Masonry: 116 employer businesses here. Typical sale multiple: 2.5x - 4.0x EBITDA + Equipment.
Remediation & Restoration: 35 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA.
Financial & Professional Services
2,888 related employer businesses in Montana.
Real Estate Brokerages: 1,100 employer businesses here. Typical sale multiple: 2.5x - 4.5x SDE.
Accounting & Tax Practices: 736 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE.
Insurance Agencies: 645 employer businesses here. Typical sale multiple: 6.0x - 8.0x EBITDA.
Wealth Management: 287 employer businesses here. Typical sale multiple: 2.7x - 4.0x Recurring Revenue.
Private Lending: 98 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Mortgage Brokerages: 22 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE.
Restaurants & Food
2,649 related employer businesses in Montana.
Full-Service Restaurants: 1,060 employer businesses here. Typical sale multiple: 1.5x - 2.5x SDE.
Quick-Service & Fast Food: 806 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Coffee Shops: 427 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE.
Grocery Stores & Markets: 260 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE + Inventory.
Liquor, Wine & Beer Stores: 82 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE + Inventory.
Bakeries: 14 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE.
Ghost Kitchens. Typical sale multiple: 2.0x - 3.0x SDE.
Medical Practices
2,310 related employer businesses in Montana.
Dental Practices: 529 employer businesses here. Typical sale multiple: 3.5x - 5.5x EBITDA.
Mental & Behavioral Health: 501 employer businesses here. Typical sale multiple: 2.5x - 4.0x SDE.
Primary & Family Care: 453 employer businesses here. Typical sale multiple: 2.2x - 3.2x SDE.
Physical Therapy & Rehab: 265 employer businesses here. Typical sale multiple: 3.5x - 5.0x EBITDA.
Veterinary Medicine: 230 employer businesses here. Typical sale multiple: 6.0x - 9.0x EBITDA.
Home Health & Hospice: 102 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA.
Vision & Eye Care: 94 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Specialty Medicine: 55 employer businesses here. Typical sale multiple: 5.0x - 7.0x EBITDA.
Urgent Care Clinics: 44 employer businesses here. Typical sale multiple: 4.0x - 6.0x EBITDA.
Medical Labs & Imaging: 37 employer businesses here. Typical sale multiple: 4.5x - 6.5x EBITDA.
Retail Stores
1,898 related employer businesses in Montana.
Hardware, Garden & Building: 539 employer businesses here. Typical sale multiple: 2.5x - 3.8x SDE + Inventory.
Fashion, Apparel & Jewelry: 382 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE + Inventory.
Home Decor & Furniture: 250 employer businesses here. Typical sale multiple: 2.2x - 3.2x SDE + Inventory.
Health, Beauty & Pharmacy: 240 employer businesses here. Typical sale multiple: 2.8x - 4.2x EBITDA.
Sporting Goods & Firearms: 194 employer businesses here. Typical sale multiple: 2.3x - 3.4x SDE.
Hobby, Toys & Gift Shops: 174 employer businesses here. Typical sale multiple: 1.8x - 2.8x SDE + Inventory.
Electronics & Repair: 119 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE.
Automotive & Boat
1,422 related employer businesses in Montana.
Auto Repair: 592 employer businesses here. Typical sale multiple: 2.5x - 3.2x SDE.
Auto Parts: 237 employer businesses here. Typical sale multiple: 2.5x - 3.2x SDE + Inventory.
Car Dealerships: 213 employer businesses here. Typical sale multiple: 2x - 8x Blue Sky + Assets.
Collision Repair: 179 employer businesses here. Typical sale multiple: 3.5x - 5.0x EBITDA.
Car Washes: 106 employer businesses here. Typical sale multiple: 4.5x - 7.0x EBITDA.
Towing & Repo: 71 employer businesses here. Typical sale multiple: 3.0x - 4.0x EBITDA + Fleet.
Boat Dealerships: 15 employer businesses here. Typical sale multiple: 3.0x - 4.5x EBITDA.
Marinas: 9 employer businesses here. Typical sale multiple: Cap Rate or 4.0x - 7.0x EBITDA.
Manufacturing
1,174 related employer businesses in Montana.
Food & Beverage Manufacturing: 296 employer businesses here. Typical sale multiple: 3.1x - 4.5x SDE.
Wood & Furniture Manufacturing: 255 employer businesses here. Typical sale multiple: 2.5x - 3.8x SDE.
Metal Fabrication: 243 employer businesses here. Typical sale multiple: 3.2x - 4.2x SDE.
Printing & Plastics: 121 employer businesses here. Typical sale multiple: 2.9x - 4.9x SDE.
Medical & Chemical Manufacturing: 100 employer businesses here. Typical sale multiple: 4.5x - 8.0x EBITDA.
Construction Materials Manufacturing: 87 employer businesses here. Typical sale multiple: 2.5x - 5.0x EBITDA.
Textile & Apparel Manufacturing: 43 employer businesses here. Typical sale multiple: 2.5x - 3.8x SDE.
Electronics & Tech Manufacturing: 29 employer businesses here. Typical sale multiple: 4.0x - 7.5x EBITDA.
Logistics & Transportation
1,150 related employer businesses in Montana.
General Freight Trucking: 836 employer businesses here. Typical sale multiple: 2.44x - 3.45x SDE.
Heavy Haul Transport: 89 employer businesses here. Typical sale multiple: 3.5x - 4.5x SDE.
Last-Mile & Courier: 80 employer businesses here. Typical sale multiple: 2.76x - 3.32x SDE.
Freight Brokerage & 3PL: 65 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Warehousing & Fulfillment: 39 employer businesses here. Typical sale multiple: 3.0x - 4.5x SDE.
Commercial Moving: 36 employer businesses here. Typical sale multiple: 1.5x - 3.0x SDE.
NEMT & Passenger Transport: 5 employer businesses here. Typical sale multiple: 2.1x - 3.1x SDE.
Port Drayage. Typical sale multiple: 2.5x - 3.5x SDE.
Entertainment & Recreation
1,008 related employer businesses in Montana.
Bars & Pubs: 541 employer businesses here. Typical sale multiple: 2.0x - 4.0x SDE.
Clubs & Lounges: 541 employer businesses here. Typical sale multiple: 3.0x - 6.0x EBITDA.
Outdoor Recreation: 340 employer businesses here. Typical sale multiple: 2.0x - 4.0x SDE.
Golf Courses: 81 employer businesses here. Typical sale multiple: 8.0x - 11.0x EBITDA.
Bowling Alleys: 35 employer businesses here. Typical sale multiple: 3.0x - 5.0x EBITDA.
Arcades & FECs: 11 employer businesses here. Typical sale multiple: 2.1x - 3.6x SDE.
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.
Home Services
920 related employer businesses in Montana.
Residential Cleaning: 509 employer businesses here. Typical sale multiple: 1.5x - 2.6x SDE.
Commercial Cleaning: 509 employer businesses here. Typical sale multiple: 2.47x - 4.11x EBITDA.
Property Management: 339 employer businesses here. Typical sale multiple: 3.0x - 4.5x SDE.
Pest Control: 45 employer businesses here. Typical sale multiple: 2.34x - 2.90x SDE.
Security Systems: 27 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.
Hospitality & Travel
777 related employer businesses in Montana.
Hotels: 531 employer businesses here. Typical sale multiple: 2.6x - 5.1x EBITDA.
Motels: 531 employer businesses here. Typical sale multiple: 1.1x - 2.5x SDE.
Transportation Services: 91 employer businesses here. Typical sale multiple: 2.0x - 4.1x SDE.
Campgrounds & RV Parks: 84 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA.
Travel Agencies: 44 employer businesses here. Typical sale multiple: 2.3x - 3.2x SDE.
Bed & Breakfasts / Inns: 27 employer businesses here. Typical sale multiple: 2.0x - 4.0x SDE.
Wholesale & Distribution
713 related employer businesses in Montana.
Industrial & Construction Supply: 326 employer businesses here. Typical sale multiple: 3.0x - 4.0x SDE.
Food & Beverage Distribution: 162 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Electronics, IT & Office Equipment Distribution: 118 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Chemicals, Plastics & Raw Materials Distribution: 39 employer businesses here. Typical sale multiple: 3.0x - 4.5x EBITDA.
Medical, Dental & Pharmaceutical Distribution: 31 employer businesses here. Typical sale multiple: 3.5x - 4.5x EBITDA.
Packaging, Paper & JanSan Distribution: 22 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Consumer Goods & Apparel Distribution: 15 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE + Inventory.
Energy & Utilities
530 related employer businesses in Montana.
Water & Wastewater Services: 171 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA.
Oil & Gas Services: 167 employer businesses here. Typical sale multiple: 3.0x - 5.0x EBITDA + Equipment.
Propane & Fuel Distribution: 118 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA + Assets.
Waste Management & Recycling: 69 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA + Assets.
Solar & Renewable Energy: 5 employer businesses here. Typical sale multiple: 3.5x - 6.0x EBITDA.
Gas Stations & Convenience
517 related employer businesses in Montana.
Gas Stations: 489 employer businesses here. Typical sale multiple: 3.0x - 4.5x EBITDA + Real Estate.
Convenience Stores: 28 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.
Education & Childcare
516 related employer businesses in Montana.
Daycare Centers: 488 employer businesses here. Typical sale multiple: 2.39x - 3.35x SDE.
Tutoring Centers: 28 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE.
Preschools. Typical sale multiple: 3.12x - 4.0x SDE.
Technology & Media
514 related employer businesses in Montana.
Creative Agencies: 136 employer businesses here. Typical sale multiple: 1.8x - 3.0x SDE.
Digital Marketing Agencies: 118 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE.
Media, Film & Studio Production: 108 employer businesses here. Typical sale multiple: 2.2x - 3.5x SDE.
Real Estate Media: 97 employer businesses here. Typical sale multiple: 1.5x - 2.8x SDE.
Software Companies (SaaS): 55 employer businesses here. Typical sale multiple: 3.5x - 5.5x SDE.
E-commerce & Online Brands. Typical sale multiple: 2.5x - 4.0x SDE + Inventory.
Beauty & Personal Care
382 related employer businesses in Montana.
Hair Salons: 224 employer businesses here. Typical sale multiple: 1.25x - 2.34x SDE.
Day Spas: 102 employer businesses here. Typical sale multiple: 1.8x - 2.8x SDE.
Tattoo Shops: 102 employer businesses here. Typical sale multiple: 1.5x - 2.5x SDE.
Massage Parlors: 102 employer businesses here. Typical sale multiple: 1.5x - 2.5x SDE.
Nail Salons: 39 employer businesses here. Typical sale multiple: 1.4x - 1.88x SDE.
Barber Shops: 17 employer businesses here. Typical sale multiple: 1.5x - 2.25x SDE.
Medical Spas. Typical sale multiple: 2.5x - 4.5x EBITDA.
Health & Fitness
362 related employer businesses in Montana.
Gyms & Health Clubs: 215 employer businesses here. Typical sale multiple: 2.44x - 2.93x SDE.
Yoga Studios: 215 employer businesses here. Typical sale multiple: 2.07x - 2.50x SDE.
Pilates Studios: 215 employer businesses here. Typical sale multiple: 2.10x - 3.00x SDE.
Personal Training Studios: 215 employer businesses here. Typical sale multiple: 2.00x - 2.80x SDE.
Wellness & Recovery Centers: 147 employer businesses here. Typical sale multiple: 5.5x - 9.7x EBITDA.
Pharmacies & Medical Supply
312 related employer businesses in Montana.
Compounding Pharmacies: 112 employer businesses here. Typical sale multiple: 3.5x - 5.5x EBITDA.
Specialty Pharmacies: 112 employer businesses here. Typical sale multiple: 4.0x - 6.5x EBITDA.
Home Infusion: 102 employer businesses here. Typical sale multiple: 4.0x - 6.5x EBITDA.
Durable Medical Equipment (DME): 64 employer businesses here. Typical sale multiple: 3.0x - 5.0x EBITDA.
Medical Supply Retail: 34 employer businesses here. Typical sale multiple: 2.5x - 4.0x SDE + Inventory.
Senior Care & Living
302 related employer businesses in Montana.
Non-Medical Home Care: 170 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Assisted Living Facilities: 106 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA + Real Estate.
Senior Living Communities: 26 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA + Real Estate.
Adult Day Services. Typical sale multiple: 2.5x - 4.0x SDE.
Pet Services
161 related employer businesses in Montana.
Pet Grooming & Spas: 122 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE.
Boarding, Daycare & Training: 122 employer businesses here. Typical sale multiple: 3.0x - 4.5x EBITDA.
Pet Retail & Specialty Supplies: 39 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.
Metro areas in this state
Counties
Working with owners in Montana
Business Advisors of America works with owners who are selling a business in Montana. Contact us to talk about a sale.
FREQUENTLY ASKED QUESTIONS
Questions owners in Montana ask
How long does it take to sell a business in Montana?
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 Montana?
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.
What should I prepare before listing?
Three years of tax returns and profit and loss statements, a current balance sheet, the lease, a list of equipment and a summary of key contracts.
What is the difference between SDE and EBITDA?
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, and it is used for larger businesses that run without the owner.
FROM OUR BLOG
Guides for owners in Montana
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