Selling a Business in South Dakota
Selling a business in South Dakota means pricing it correctly, preparing the records a buyer will ask for and finding a buyer who can pay and close. South Dakota has 29,106 employer businesses and about 78,059 more with no employees. This page covers the numbers, the steps and what buyers look for.
LOCAL SNAPSHOT
South Dakota by the numbers
29,106
29,106
EMPLOYER BUSINESSES
87%
87%
SMALL EMPLOYER SHARE
78,059
78,059
BUSINESSES WITH NO EMPLOYEES
383,805
383,805
EMPLOYMENT
$20.7 billion
$20.7 billion
ANNUAL PAYROLL
11,641
11,641
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 South Dakota compares
South Dakota ranks 46th among the 50 states and the District of Columbia for employer businesses.
The number of employer businesses grew 7.4% between 2018 and 2023.
Construction makes up 13% of employer businesses in South Dakota, compared with 10% nationwide.
11,641 employer businesses here have 5 to 49 employees.
South Dakota ranks 46th among the 50 states and the District of Columbia for employer businesses.
The number of employer businesses grew 7.4% between 2018 and 2023.
Construction makes up 13% of employer businesses in South Dakota, compared with 10% nationwide.
11,641 employer businesses here have 5 to 49 employees.
How a sale works in South Dakota
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 South Dakota
Notice when assets are sold
South Dakota's Department of Revenue says a business files a final sales tax return and pays all tax due when ownership of the business changes. Source: South Dakota Department of Revenue Sales and Use Tax Guide
Permits and registrations
South Dakota's Department of Revenue says sales tax licenses are not transferable. It says a change in ownership or legal organization requires a new tax license, for example a sale from one sole proprietor to another. Source: South Dakota Department of Revenue Sales and Use Tax Guide
Unemployment insurance account
South Dakota law says anyone who acquires a business from an employer with an unemployment experience rating account shall immediately notify the Department of Labor and Regulation. With the consent of both parties and the Department's approval, the buyer may take over the seller's account, which is the history used to set the unemployment contribution rate. If the buyer does not take it over, the buyer receives the new employer rate. Source: South Dakota Codified Laws section 61-5-42
These points come from official South Dakota 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 South Dakota
Notice when assets are sold
South Dakota's Department of Revenue says a business files a final sales tax return and pays all tax due when ownership of the business changes. Source: South Dakota Department of Revenue Sales and Use Tax Guide
Permits and registrations
South Dakota's Department of Revenue says sales tax licenses are not transferable. It says a change in ownership or legal organization requires a new tax license, for example a sale from one sole proprietor to another. Source: South Dakota Department of Revenue Sales and Use Tax Guide
Unemployment insurance account
South Dakota law says anyone who acquires a business from an employer with an unemployment experience rating account shall immediately notify the Department of Labor and Regulation. With the consent of both parties and the Department's approval, the buyer may take over the seller's account, which is the history used to set the unemployment contribution rate. If the buyer does not take it over, the buyer receives the new employer rate. Source: South Dakota Codified Laws section 61-5-42
These points come from official South Dakota 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 South Dakota
Retail, construction, repair, personal care and other services, health care and social assistance
Every kind of business we sell in South Dakota
We sell businesses in every one of these industries in South Dakota. 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
3,888 related employer businesses in South Dakota.
General Contracting: 1,220 employer businesses here. Typical sale multiple: 3.0x - 4.5x SDE.
Interior Finishing: 516 employer businesses here. Typical sale multiple: 2.5x - 4.0x SDE.
Foundation & Site Prep: 487 employer businesses here. Typical sale multiple: 2.5x - 4.0x EBITDA + Fleet.
Plumbing: 401 employer businesses here. Typical sale multiple: 3.5x - 5.0x SDE.
HVAC Services: 401 employer businesses here. Typical sale multiple: 4.6x - 7.0x EBITDA.
Landscaping: 376 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Electrical: 341 employer businesses here. Typical sale multiple: 4.0x - 8.0x EBITDA.
Roofing & Siding: 186 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Civil Engineering: 181 employer businesses here. Typical sale multiple: 7.0x - 11.0x EBITDA.
Carpentry & Framing: 102 employer businesses here. Typical sale multiple: 2.5x - 4.0x SDE.
Masonry: 63 employer businesses here. Typical sale multiple: 2.5x - 4.0x EBITDA + Equipment.
Remediation & Restoration: 15 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA.
Financial & Professional Services
1,839 related employer businesses in South Dakota.
Insurance Agencies: 745 employer businesses here. Typical sale multiple: 6.0x - 8.0x EBITDA.
Real Estate Brokerages: 456 employer businesses here. Typical sale multiple: 2.5x - 4.5x SDE.
Accounting & Tax Practices: 343 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE.
Wealth Management: 240 employer businesses here. Typical sale multiple: 2.7x - 4.0x Recurring Revenue.
Private Lending: 47 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Mortgage Brokerages: 8 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE.
Restaurants & Food
1,835 related employer businesses in South Dakota.
Full-Service Restaurants: 675 employer businesses here. Typical sale multiple: 1.5x - 2.5x SDE.
Quick-Service & Fast Food: 623 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Coffee Shops: 265 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE.
Grocery Stores & Markets: 199 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE + Inventory.
Liquor, Wine & Beer Stores: 63 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE + Inventory.
Bakeries: 10 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE.
Ghost Kitchens. Typical sale multiple: 2.0x - 3.0x SDE.
Retail Stores
1,383 related employer businesses in South Dakota.
Hardware, Garden & Building: 394 employer businesses here. Typical sale multiple: 2.5x - 3.8x SDE + Inventory.
Fashion, Apparel & Jewelry: 353 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE + Inventory.
Health, Beauty & Pharmacy: 210 employer businesses here. Typical sale multiple: 2.8x - 4.2x EBITDA.
Home Decor & Furniture: 147 employer businesses here. Typical sale multiple: 2.2x - 3.2x SDE + Inventory.
Hobby, Toys & Gift Shops: 128 employer businesses here. Typical sale multiple: 1.8x - 2.8x SDE + Inventory.
Sporting Goods & Firearms: 87 employer businesses here. Typical sale multiple: 2.3x - 3.4x SDE.
Electronics & Repair: 64 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE.
Medical Practices
1,299 related employer businesses in South Dakota.
Dental Practices: 317 employer businesses here. Typical sale multiple: 3.5x - 5.5x EBITDA.
Primary & Family Care: 313 employer businesses here. Typical sale multiple: 2.2x - 3.2x SDE.
Veterinary Medicine: 153 employer businesses here. Typical sale multiple: 6.0x - 9.0x EBITDA.
Mental & Behavioral Health: 151 employer businesses here. Typical sale multiple: 2.5x - 4.0x SDE.
Physical Therapy & Rehab: 128 employer businesses here. Typical sale multiple: 3.5x - 5.0x EBITDA.
Vision & Eye Care: 115 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Home Health & Hospice: 57 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA.
Specialty Medicine: 28 employer businesses here. Typical sale multiple: 5.0x - 7.0x EBITDA.
Medical Labs & Imaging: 19 employer businesses here. Typical sale multiple: 4.5x - 6.5x EBITDA.
Urgent Care Clinics: 18 employer businesses here. Typical sale multiple: 4.0x - 6.0x EBITDA.
Logistics & Transportation
1,291 related employer businesses in South Dakota.
General Freight Trucking: 947 employer businesses here. Typical sale multiple: 2.44x - 3.45x SDE.
Heavy Haul Transport: 150 employer businesses here. Typical sale multiple: 3.5x - 4.5x SDE.
Last-Mile & Courier: 72 employer businesses here. Typical sale multiple: 2.76x - 3.32x SDE.
Freight Brokerage & 3PL: 40 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Warehousing & Fulfillment: 37 employer businesses here. Typical sale multiple: 3.0x - 4.5x SDE.
Commercial Moving: 26 employer businesses here. Typical sale multiple: 1.5x - 3.0x SDE.
NEMT & Passenger Transport: 19 employer businesses here. Typical sale multiple: 2.1x - 3.1x SDE.
Port Drayage. Typical sale multiple: 2.5x - 3.5x SDE.
Automotive & Boat
1,209 related employer businesses in South Dakota.
Auto Repair: 467 employer businesses here. Typical sale multiple: 2.5x - 3.2x SDE.
Car Dealerships: 210 employer businesses here. Typical sale multiple: 2x - 8x Blue Sky + Assets.
Collision Repair: 209 employer businesses here. Typical sale multiple: 3.5x - 5.0x EBITDA.
Auto Parts: 198 employer businesses here. Typical sale multiple: 2.5x - 3.2x SDE + Inventory.
Car Washes: 64 employer businesses here. Typical sale multiple: 4.5x - 7.0x EBITDA.
Towing & Repo: 33 employer businesses here. Typical sale multiple: 3.0x - 4.0x EBITDA + Fleet.
Boat Dealerships: 23 employer businesses here. Typical sale multiple: 3.0x - 4.5x EBITDA.
Marinas: 5 employer businesses here. Typical sale multiple: Cap Rate or 4.0x - 7.0x EBITDA.
Manufacturing
802 related employer businesses in South Dakota.
Metal Fabrication: 194 employer businesses here. Typical sale multiple: 3.2x - 4.2x SDE.
Food & Beverage Manufacturing: 173 employer businesses here. Typical sale multiple: 3.1x - 4.5x SDE.
Printing & Plastics: 120 employer businesses here. Typical sale multiple: 2.9x - 4.9x SDE.
Wood & Furniture Manufacturing: 110 employer businesses here. Typical sale multiple: 2.5x - 3.8x SDE.
Construction Materials Manufacturing: 84 employer businesses here. Typical sale multiple: 2.5x - 5.0x EBITDA.
Medical & Chemical Manufacturing: 61 employer businesses here. Typical sale multiple: 4.5x - 8.0x EBITDA.
Electronics & Tech Manufacturing: 36 employer businesses here. Typical sale multiple: 4.0x - 7.5x EBITDA.
Textile & Apparel Manufacturing: 24 employer businesses here. Typical sale multiple: 2.5x - 3.8x SDE.
Hospitality & Travel
638 related employer businesses in South Dakota.
Hotels: 441 employer businesses here. Typical sale multiple: 2.6x - 5.1x EBITDA.
Motels: 441 employer businesses here. Typical sale multiple: 1.1x - 2.5x SDE.
Campgrounds & RV Parks: 85 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA.
Transportation Services: 74 employer businesses here. Typical sale multiple: 2.0x - 4.1x SDE.
Travel Agencies: 26 employer businesses here. Typical sale multiple: 2.3x - 3.2x SDE.
Bed & Breakfasts / Inns: 12 employer businesses here. Typical sale multiple: 2.0x - 4.0x SDE.
Wholesale & Distribution
618 related employer businesses in South Dakota.
Industrial & Construction Supply: 333 employer businesses here. Typical sale multiple: 3.0x - 4.0x SDE.
Food & Beverage Distribution: 120 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Electronics, IT & Office Equipment Distribution: 91 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Chemicals, Plastics & Raw Materials Distribution: 25 employer businesses here. Typical sale multiple: 3.0x - 4.5x EBITDA.
Packaging, Paper & JanSan Distribution: 22 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Medical, Dental & Pharmaceutical Distribution: 21 employer businesses here. Typical sale multiple: 3.5x - 4.5x EBITDA.
Consumer Goods & Apparel Distribution: 6 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE + Inventory.
Gas Stations & Convenience
613 related employer businesses in South Dakota.
Gas Stations: 580 employer businesses here. Typical sale multiple: 3.0x - 4.5x EBITDA + Real Estate.
Convenience Stores: 33 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.
Entertainment & Recreation
599 related employer businesses in South Dakota.
Bars & Pubs: 350 employer businesses here. Typical sale multiple: 2.0x - 4.0x SDE.
Clubs & Lounges: 350 employer businesses here. Typical sale multiple: 3.0x - 6.0x EBITDA.
Outdoor Recreation: 126 employer businesses here. Typical sale multiple: 2.0x - 4.0x SDE.
Golf Courses: 73 employer businesses here. Typical sale multiple: 8.0x - 11.0x EBITDA.
Bowling Alleys: 32 employer businesses here. Typical sale multiple: 3.0x - 5.0x EBITDA.
Arcades & FECs: 18 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
489 related employer businesses in South Dakota.
Residential Cleaning: 270 employer businesses here. Typical sale multiple: 1.5x - 2.6x SDE.
Commercial Cleaning: 270 employer businesses here. Typical sale multiple: 2.47x - 4.11x EBITDA.
Property Management: 168 employer businesses here. Typical sale multiple: 3.0x - 4.5x SDE.
Pest Control: 32 employer businesses here. Typical sale multiple: 2.34x - 2.90x SDE.
Security Systems: 19 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.
Energy & Utilities
306 related employer businesses in South Dakota.
Water & Wastewater Services: 100 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA.
Propane & Fuel Distribution: 94 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA + Assets.
Waste Management & Recycling: 87 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA + Assets.
Oil & Gas Services: 15 employer businesses here. Typical sale multiple: 3.0x - 5.0x EBITDA + Equipment.
Solar & Renewable Energy: 10 employer businesses here. Typical sale multiple: 3.5x - 6.0x EBITDA.
Beauty & Personal Care
299 related employer businesses in South Dakota.
Hair Salons: 160 employer businesses here. Typical sale multiple: 1.25x - 2.34x SDE.
Day Spas: 87 employer businesses here. Typical sale multiple: 1.8x - 2.8x SDE.
Tattoo Shops: 87 employer businesses here. Typical sale multiple: 1.5x - 2.5x SDE.
Massage Parlors: 87 employer businesses here. Typical sale multiple: 1.5x - 2.5x SDE.
Nail Salons: 44 employer businesses here. Typical sale multiple: 1.4x - 1.88x SDE.
Barber Shops: 8 employer businesses here. Typical sale multiple: 1.5x - 2.25x SDE.
Medical Spas. Typical sale multiple: 2.5x - 4.5x EBITDA.
Education & Childcare
297 related employer businesses in South Dakota.
Daycare Centers: 280 employer businesses here. Typical sale multiple: 2.39x - 3.35x SDE.
Tutoring Centers: 17 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE.
Preschools. Typical sale multiple: 3.12x - 4.0x SDE.
Technology & Media
269 related employer businesses in South Dakota.
Digital Marketing Agencies: 84 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE.
Creative Agencies: 55 employer businesses here. Typical sale multiple: 1.8x - 3.0x SDE.
Real Estate Media: 54 employer businesses here. Typical sale multiple: 1.5x - 2.8x SDE.
Media, Film & Studio Production: 48 employer businesses here. Typical sale multiple: 2.2x - 3.5x SDE.
Software Companies (SaaS): 28 employer businesses here. Typical sale multiple: 3.5x - 5.5x SDE.
E-commerce & Online Brands. Typical sale multiple: 2.5x - 4.0x SDE + Inventory.
Pharmacies & Medical Supply
242 related employer businesses in South Dakota.
Compounding Pharmacies: 115 employer businesses here. Typical sale multiple: 3.5x - 5.5x EBITDA.
Specialty Pharmacies: 115 employer businesses here. Typical sale multiple: 4.0x - 6.5x EBITDA.
Home Infusion: 57 employer businesses here. Typical sale multiple: 4.0x - 6.5x EBITDA.
Durable Medical Equipment (DME): 44 employer businesses here. Typical sale multiple: 3.0x - 5.0x EBITDA.
Medical Supply Retail: 26 employer businesses here. Typical sale multiple: 2.5x - 4.0x SDE + Inventory.
Health & Fitness
192 related employer businesses in South Dakota.
Gyms & Health Clubs: 114 employer businesses here. Typical sale multiple: 2.44x - 2.93x SDE.
Yoga Studios: 114 employer businesses here. Typical sale multiple: 2.07x - 2.50x SDE.
Pilates Studios: 114 employer businesses here. Typical sale multiple: 2.10x - 3.00x SDE.
Personal Training Studios: 114 employer businesses here. Typical sale multiple: 2.00x - 2.80x SDE.
Wellness & Recovery Centers: 78 employer businesses here. Typical sale multiple: 5.5x - 9.7x EBITDA.
Senior Care & Living
174 related employer businesses in South Dakota.
Assisted Living Facilities: 75 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA + Real Estate.
Non-Medical Home Care: 59 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Senior Living Communities: 40 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
107 related employer businesses in South Dakota.
Pet Grooming & Spas: 85 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE.
Boarding, Daycare & Training: 85 employer businesses here. Typical sale multiple: 3.0x - 4.5x EBITDA.
Pet Retail & Specialty Supplies: 22 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.
Land & Agriculture
5 related employer businesses in South Dakota.
Agricultural Labor Contracting: 5 employer businesses here. Typical sale multiple: 2.4x - 6.09x EBITDA.
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.
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.
We sell businesses in every one of these industries in South Dakota. 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
3,888 related employer businesses in South Dakota.
General Contracting: 1,220 employer businesses here. Typical sale multiple: 3.0x - 4.5x SDE.
Interior Finishing: 516 employer businesses here. Typical sale multiple: 2.5x - 4.0x SDE.
Foundation & Site Prep: 487 employer businesses here. Typical sale multiple: 2.5x - 4.0x EBITDA + Fleet.
Plumbing: 401 employer businesses here. Typical sale multiple: 3.5x - 5.0x SDE.
HVAC Services: 401 employer businesses here. Typical sale multiple: 4.6x - 7.0x EBITDA.
Landscaping: 376 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Electrical: 341 employer businesses here. Typical sale multiple: 4.0x - 8.0x EBITDA.
Roofing & Siding: 186 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Civil Engineering: 181 employer businesses here. Typical sale multiple: 7.0x - 11.0x EBITDA.
Carpentry & Framing: 102 employer businesses here. Typical sale multiple: 2.5x - 4.0x SDE.
Masonry: 63 employer businesses here. Typical sale multiple: 2.5x - 4.0x EBITDA + Equipment.
Remediation & Restoration: 15 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA.
Financial & Professional Services
1,839 related employer businesses in South Dakota.
Insurance Agencies: 745 employer businesses here. Typical sale multiple: 6.0x - 8.0x EBITDA.
Real Estate Brokerages: 456 employer businesses here. Typical sale multiple: 2.5x - 4.5x SDE.
Accounting & Tax Practices: 343 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE.
Wealth Management: 240 employer businesses here. Typical sale multiple: 2.7x - 4.0x Recurring Revenue.
Private Lending: 47 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Mortgage Brokerages: 8 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE.
Restaurants & Food
1,835 related employer businesses in South Dakota.
Full-Service Restaurants: 675 employer businesses here. Typical sale multiple: 1.5x - 2.5x SDE.
Quick-Service & Fast Food: 623 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Coffee Shops: 265 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE.
Grocery Stores & Markets: 199 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE + Inventory.
Liquor, Wine & Beer Stores: 63 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE + Inventory.
Bakeries: 10 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE.
Ghost Kitchens. Typical sale multiple: 2.0x - 3.0x SDE.
Retail Stores
1,383 related employer businesses in South Dakota.
Hardware, Garden & Building: 394 employer businesses here. Typical sale multiple: 2.5x - 3.8x SDE + Inventory.
Fashion, Apparel & Jewelry: 353 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE + Inventory.
Health, Beauty & Pharmacy: 210 employer businesses here. Typical sale multiple: 2.8x - 4.2x EBITDA.
Home Decor & Furniture: 147 employer businesses here. Typical sale multiple: 2.2x - 3.2x SDE + Inventory.
Hobby, Toys & Gift Shops: 128 employer businesses here. Typical sale multiple: 1.8x - 2.8x SDE + Inventory.
Sporting Goods & Firearms: 87 employer businesses here. Typical sale multiple: 2.3x - 3.4x SDE.
Electronics & Repair: 64 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE.
Medical Practices
1,299 related employer businesses in South Dakota.
Dental Practices: 317 employer businesses here. Typical sale multiple: 3.5x - 5.5x EBITDA.
Primary & Family Care: 313 employer businesses here. Typical sale multiple: 2.2x - 3.2x SDE.
Veterinary Medicine: 153 employer businesses here. Typical sale multiple: 6.0x - 9.0x EBITDA.
Mental & Behavioral Health: 151 employer businesses here. Typical sale multiple: 2.5x - 4.0x SDE.
Physical Therapy & Rehab: 128 employer businesses here. Typical sale multiple: 3.5x - 5.0x EBITDA.
Vision & Eye Care: 115 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Home Health & Hospice: 57 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA.
Specialty Medicine: 28 employer businesses here. Typical sale multiple: 5.0x - 7.0x EBITDA.
Medical Labs & Imaging: 19 employer businesses here. Typical sale multiple: 4.5x - 6.5x EBITDA.
Urgent Care Clinics: 18 employer businesses here. Typical sale multiple: 4.0x - 6.0x EBITDA.
Logistics & Transportation
1,291 related employer businesses in South Dakota.
General Freight Trucking: 947 employer businesses here. Typical sale multiple: 2.44x - 3.45x SDE.
Heavy Haul Transport: 150 employer businesses here. Typical sale multiple: 3.5x - 4.5x SDE.
Last-Mile & Courier: 72 employer businesses here. Typical sale multiple: 2.76x - 3.32x SDE.
Freight Brokerage & 3PL: 40 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Warehousing & Fulfillment: 37 employer businesses here. Typical sale multiple: 3.0x - 4.5x SDE.
Commercial Moving: 26 employer businesses here. Typical sale multiple: 1.5x - 3.0x SDE.
NEMT & Passenger Transport: 19 employer businesses here. Typical sale multiple: 2.1x - 3.1x SDE.
Port Drayage. Typical sale multiple: 2.5x - 3.5x SDE.
Automotive & Boat
1,209 related employer businesses in South Dakota.
Auto Repair: 467 employer businesses here. Typical sale multiple: 2.5x - 3.2x SDE.
Car Dealerships: 210 employer businesses here. Typical sale multiple: 2x - 8x Blue Sky + Assets.
Collision Repair: 209 employer businesses here. Typical sale multiple: 3.5x - 5.0x EBITDA.
Auto Parts: 198 employer businesses here. Typical sale multiple: 2.5x - 3.2x SDE + Inventory.
Car Washes: 64 employer businesses here. Typical sale multiple: 4.5x - 7.0x EBITDA.
Towing & Repo: 33 employer businesses here. Typical sale multiple: 3.0x - 4.0x EBITDA + Fleet.
Boat Dealerships: 23 employer businesses here. Typical sale multiple: 3.0x - 4.5x EBITDA.
Marinas: 5 employer businesses here. Typical sale multiple: Cap Rate or 4.0x - 7.0x EBITDA.
Manufacturing
802 related employer businesses in South Dakota.
Metal Fabrication: 194 employer businesses here. Typical sale multiple: 3.2x - 4.2x SDE.
Food & Beverage Manufacturing: 173 employer businesses here. Typical sale multiple: 3.1x - 4.5x SDE.
Printing & Plastics: 120 employer businesses here. Typical sale multiple: 2.9x - 4.9x SDE.
Wood & Furniture Manufacturing: 110 employer businesses here. Typical sale multiple: 2.5x - 3.8x SDE.
Construction Materials Manufacturing: 84 employer businesses here. Typical sale multiple: 2.5x - 5.0x EBITDA.
Medical & Chemical Manufacturing: 61 employer businesses here. Typical sale multiple: 4.5x - 8.0x EBITDA.
Electronics & Tech Manufacturing: 36 employer businesses here. Typical sale multiple: 4.0x - 7.5x EBITDA.
Textile & Apparel Manufacturing: 24 employer businesses here. Typical sale multiple: 2.5x - 3.8x SDE.
Hospitality & Travel
638 related employer businesses in South Dakota.
Hotels: 441 employer businesses here. Typical sale multiple: 2.6x - 5.1x EBITDA.
Motels: 441 employer businesses here. Typical sale multiple: 1.1x - 2.5x SDE.
Campgrounds & RV Parks: 85 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA.
Transportation Services: 74 employer businesses here. Typical sale multiple: 2.0x - 4.1x SDE.
Travel Agencies: 26 employer businesses here. Typical sale multiple: 2.3x - 3.2x SDE.
Bed & Breakfasts / Inns: 12 employer businesses here. Typical sale multiple: 2.0x - 4.0x SDE.
Wholesale & Distribution
618 related employer businesses in South Dakota.
Industrial & Construction Supply: 333 employer businesses here. Typical sale multiple: 3.0x - 4.0x SDE.
Food & Beverage Distribution: 120 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Electronics, IT & Office Equipment Distribution: 91 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Chemicals, Plastics & Raw Materials Distribution: 25 employer businesses here. Typical sale multiple: 3.0x - 4.5x EBITDA.
Packaging, Paper & JanSan Distribution: 22 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Medical, Dental & Pharmaceutical Distribution: 21 employer businesses here. Typical sale multiple: 3.5x - 4.5x EBITDA.
Consumer Goods & Apparel Distribution: 6 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE + Inventory.
Gas Stations & Convenience
613 related employer businesses in South Dakota.
Gas Stations: 580 employer businesses here. Typical sale multiple: 3.0x - 4.5x EBITDA + Real Estate.
Convenience Stores: 33 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.
Entertainment & Recreation
599 related employer businesses in South Dakota.
Bars & Pubs: 350 employer businesses here. Typical sale multiple: 2.0x - 4.0x SDE.
Clubs & Lounges: 350 employer businesses here. Typical sale multiple: 3.0x - 6.0x EBITDA.
Outdoor Recreation: 126 employer businesses here. Typical sale multiple: 2.0x - 4.0x SDE.
Golf Courses: 73 employer businesses here. Typical sale multiple: 8.0x - 11.0x EBITDA.
Bowling Alleys: 32 employer businesses here. Typical sale multiple: 3.0x - 5.0x EBITDA.
Arcades & FECs: 18 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
489 related employer businesses in South Dakota.
Residential Cleaning: 270 employer businesses here. Typical sale multiple: 1.5x - 2.6x SDE.
Commercial Cleaning: 270 employer businesses here. Typical sale multiple: 2.47x - 4.11x EBITDA.
Property Management: 168 employer businesses here. Typical sale multiple: 3.0x - 4.5x SDE.
Pest Control: 32 employer businesses here. Typical sale multiple: 2.34x - 2.90x SDE.
Security Systems: 19 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.
Energy & Utilities
306 related employer businesses in South Dakota.
Water & Wastewater Services: 100 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA.
Propane & Fuel Distribution: 94 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA + Assets.
Waste Management & Recycling: 87 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA + Assets.
Oil & Gas Services: 15 employer businesses here. Typical sale multiple: 3.0x - 5.0x EBITDA + Equipment.
Solar & Renewable Energy: 10 employer businesses here. Typical sale multiple: 3.5x - 6.0x EBITDA.
Beauty & Personal Care
299 related employer businesses in South Dakota.
Hair Salons: 160 employer businesses here. Typical sale multiple: 1.25x - 2.34x SDE.
Day Spas: 87 employer businesses here. Typical sale multiple: 1.8x - 2.8x SDE.
Tattoo Shops: 87 employer businesses here. Typical sale multiple: 1.5x - 2.5x SDE.
Massage Parlors: 87 employer businesses here. Typical sale multiple: 1.5x - 2.5x SDE.
Nail Salons: 44 employer businesses here. Typical sale multiple: 1.4x - 1.88x SDE.
Barber Shops: 8 employer businesses here. Typical sale multiple: 1.5x - 2.25x SDE.
Medical Spas. Typical sale multiple: 2.5x - 4.5x EBITDA.
Education & Childcare
297 related employer businesses in South Dakota.
Daycare Centers: 280 employer businesses here. Typical sale multiple: 2.39x - 3.35x SDE.
Tutoring Centers: 17 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE.
Preschools. Typical sale multiple: 3.12x - 4.0x SDE.
Technology & Media
269 related employer businesses in South Dakota.
Digital Marketing Agencies: 84 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE.
Creative Agencies: 55 employer businesses here. Typical sale multiple: 1.8x - 3.0x SDE.
Real Estate Media: 54 employer businesses here. Typical sale multiple: 1.5x - 2.8x SDE.
Media, Film & Studio Production: 48 employer businesses here. Typical sale multiple: 2.2x - 3.5x SDE.
Software Companies (SaaS): 28 employer businesses here. Typical sale multiple: 3.5x - 5.5x SDE.
E-commerce & Online Brands. Typical sale multiple: 2.5x - 4.0x SDE + Inventory.
Pharmacies & Medical Supply
242 related employer businesses in South Dakota.
Compounding Pharmacies: 115 employer businesses here. Typical sale multiple: 3.5x - 5.5x EBITDA.
Specialty Pharmacies: 115 employer businesses here. Typical sale multiple: 4.0x - 6.5x EBITDA.
Home Infusion: 57 employer businesses here. Typical sale multiple: 4.0x - 6.5x EBITDA.
Durable Medical Equipment (DME): 44 employer businesses here. Typical sale multiple: 3.0x - 5.0x EBITDA.
Medical Supply Retail: 26 employer businesses here. Typical sale multiple: 2.5x - 4.0x SDE + Inventory.
Health & Fitness
192 related employer businesses in South Dakota.
Gyms & Health Clubs: 114 employer businesses here. Typical sale multiple: 2.44x - 2.93x SDE.
Yoga Studios: 114 employer businesses here. Typical sale multiple: 2.07x - 2.50x SDE.
Pilates Studios: 114 employer businesses here. Typical sale multiple: 2.10x - 3.00x SDE.
Personal Training Studios: 114 employer businesses here. Typical sale multiple: 2.00x - 2.80x SDE.
Wellness & Recovery Centers: 78 employer businesses here. Typical sale multiple: 5.5x - 9.7x EBITDA.
Senior Care & Living
174 related employer businesses in South Dakota.
Assisted Living Facilities: 75 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA + Real Estate.
Non-Medical Home Care: 59 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Senior Living Communities: 40 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
107 related employer businesses in South Dakota.
Pet Grooming & Spas: 85 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE.
Boarding, Daycare & Training: 85 employer businesses here. Typical sale multiple: 3.0x - 4.5x EBITDA.
Pet Retail & Specialty Supplies: 22 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.
Land & Agriculture
5 related employer businesses in South Dakota.
Agricultural Labor Contracting: 5 employer businesses here. Typical sale multiple: 2.4x - 6.09x EBITDA.
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.
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.
Metro areas in this state
Counties
Working with owners in South Dakota
Business Advisors of America works with owners who are selling a business in South Dakota. Contact us to talk about a sale.
FREQUENTLY ASKED QUESTIONS
Questions owners in South Dakota ask
How long does it take to sell a business in South Dakota?
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 South Dakota?
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 South Dakota
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