Selling a Business in Tennessee
Selling a business in Tennessee means pricing it correctly, preparing the records a buyer will ask for and finding a buyer who can pay and close. Tennessee has 150,129 employer businesses and about 675,058 more with no employees. This page covers the numbers, the steps and what buyers look for.
LOCAL SNAPSHOT
Tennessee by the numbers
150,129
150,129
EMPLOYER BUSINESSES
82%
82%
SMALL EMPLOYER SHARE
675,058
675,058
BUSINESSES WITH NO EMPLOYEES
2,971,417
2,971,417
EMPLOYMENT
$175.8 billion
$175.8 billion
ANNUAL PAYROLL
67,690
67,690
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 Tennessee compares
Tennessee ranks 20th among the 50 states and the District of Columbia for employer businesses.
The number of employer businesses grew 8.6% between 2018 and 2023.
Retail makes up 16% of employer businesses in Tennessee, compared with 12% nationwide.
67,690 employer businesses here have 5 to 49 employees.
Tennessee ranks 20th among the 50 states and the District of Columbia for employer businesses.
The number of employer businesses grew 8.6% between 2018 and 2023.
Retail makes up 16% of employer businesses in Tennessee, compared with 12% nationwide.
67,690 employer businesses here have 5 to 49 employees.
How a sale works in Tennessee
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 Tennessee
Notice when assets are sold
Tennessee's Department of Revenue says a taxpayer must notify the Department if business ownership changes in any manner, including a sale. The Department says a seller must file a final sales or use tax return and pay all tax due within 15 days after the business is sold or closed (Department of Revenue Sales and Use Tax Guide).
Sales tax and the buyer's liability
Tennessee's Department of Revenue says a buyer must withhold enough of the purchase money to cover the seller's unpaid sales tax until the seller produces a receipt or a certificate from the Commissioner of Revenue showing no tax is due. A buyer who does not withhold is personally liable for those taxes, a rule called successor liability. The Department says this liability cannot exceed the purchase money paid in good faith for full value (Department of Revenue Sales and Use Tax Guide).
Permits and registrations
Tennessee's Department of Revenue says that when a business is sold, the buyer must apply for a certificate of registration in the buyer's own name. The Department says a seller who lets a new owner buy tax exempt using the seller's registration may be guilty of a misdemeanor and liable for the tax (Department of Revenue Sales and Use Tax Guide).
Unemployment insurance account
Tennessee's Department of Labor and Workforce Development says state law requires transfer of an employer's experience rating factors, the records used to set an unemployment premium rate, whenever the seller and buyer share any common ownership, management or control. Otherwise the transfer is voluntary for both sides, and they apply jointly on Form LB-0483 during the quarter of the acquisition or the next quarter (Department of Labor and Workforce Development Form LB-0483).
These points come from official Tennessee 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 Tennessee
Notice when assets are sold
Tennessee's Department of Revenue says a taxpayer must notify the Department if business ownership changes in any manner, including a sale. The Department says a seller must file a final sales or use tax return and pay all tax due within 15 days after the business is sold or closed (Department of Revenue Sales and Use Tax Guide).
Sales tax and the buyer's liability
Tennessee's Department of Revenue says a buyer must withhold enough of the purchase money to cover the seller's unpaid sales tax until the seller produces a receipt or a certificate from the Commissioner of Revenue showing no tax is due. A buyer who does not withhold is personally liable for those taxes, a rule called successor liability. The Department says this liability cannot exceed the purchase money paid in good faith for full value (Department of Revenue Sales and Use Tax Guide).
Permits and registrations
Tennessee's Department of Revenue says that when a business is sold, the buyer must apply for a certificate of registration in the buyer's own name. The Department says a seller who lets a new owner buy tax exempt using the seller's registration may be guilty of a misdemeanor and liable for the tax (Department of Revenue Sales and Use Tax Guide).
Unemployment insurance account
Tennessee's Department of Labor and Workforce Development says state law requires transfer of an employer's experience rating factors, the records used to set an unemployment premium rate, whenever the seller and buyer share any common ownership, management or control. Otherwise the transfer is voluntary for both sides, and they apply jointly on Form LB-0483 during the quarter of the acquisition or the next quarter (Department of Labor and Workforce Development Form LB-0483).
These points come from official Tennessee 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 Tennessee
Retail, health care and social assistance, repair, personal care and other services, accommodation and food service
Every kind of business we sell in Tennessee
We sell businesses in every one of these industries in Tennessee. 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.
Restaurants & Food
14,133 related employer businesses in Tennessee.
Quick-Service & Fast Food: 5,735 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Full-Service Restaurants: 4,962 employer businesses here. Typical sale multiple: 1.5x - 2.5x SDE.
Coffee Shops: 1,511 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE.
Grocery Stores & Markets: 1,077 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE + Inventory.
Liquor, Wine & Beer Stores: 736 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE + Inventory.
Bakeries: 112 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE.
Ghost Kitchens. Typical sale multiple: 2.0x - 3.0x SDE.
Construction & Engineering
13,894 related employer businesses in Tennessee.
General Contracting: 3,751 employer businesses here. Typical sale multiple: 3.0x - 4.5x SDE.
Landscaping: 1,991 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Plumbing: 1,899 employer businesses here. Typical sale multiple: 3.5x - 5.0x SDE.
HVAC Services: 1,899 employer businesses here. Typical sale multiple: 4.6x - 7.0x EBITDA.
Interior Finishing: 1,644 employer businesses here. Typical sale multiple: 2.5x - 4.0x SDE.
Foundation & Site Prep: 1,374 employer businesses here. Typical sale multiple: 2.5x - 4.0x EBITDA + Fleet.
Electrical: 1,315 employer businesses here. Typical sale multiple: 4.0x - 8.0x EBITDA.
Civil Engineering: 855 employer businesses here. Typical sale multiple: 7.0x - 11.0x EBITDA.
Roofing & Siding: 579 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Masonry: 228 employer businesses here. Typical sale multiple: 2.5x - 4.0x EBITDA + Equipment.
Carpentry & Framing: 140 employer businesses here. Typical sale multiple: 2.5x - 4.0x SDE.
Remediation & Restoration: 118 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA.
Medical Practices
10,932 related employer businesses in Tennessee.
Primary & Family Care: 4,291 employer businesses here. Typical sale multiple: 2.2x - 3.2x SDE.
Dental Practices: 2,225 employer businesses here. Typical sale multiple: 3.5x - 5.5x EBITDA.
Mental & Behavioral Health: 802 employer businesses here. Typical sale multiple: 2.5x - 4.0x SDE.
Physical Therapy & Rehab: 773 employer businesses here. Typical sale multiple: 3.5x - 5.0x EBITDA.
Veterinary Medicine: 720 employer businesses here. Typical sale multiple: 6.0x - 9.0x EBITDA.
Home Health & Hospice: 636 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA.
Medical Labs & Imaging: 603 employer businesses here. Typical sale multiple: 4.5x - 6.5x EBITDA.
Vision & Eye Care: 445 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Urgent Care Clinics: 257 employer businesses here. Typical sale multiple: 4.0x - 6.0x EBITDA.
Specialty Medicine: 180 employer businesses here. Typical sale multiple: 5.0x - 7.0x EBITDA.
Retail Stores
8,573 related employer businesses in Tennessee.
Fashion, Apparel & Jewelry: 2,612 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE + Inventory.
Health, Beauty & Pharmacy: 1,872 employer businesses here. Typical sale multiple: 2.8x - 4.2x EBITDA.
Hardware, Garden & Building: 1,687 employer businesses here. Typical sale multiple: 2.5x - 3.8x SDE + Inventory.
Home Decor & Furniture: 998 employer businesses here. Typical sale multiple: 2.2x - 3.2x SDE + Inventory.
Hobby, Toys & Gift Shops: 591 employer businesses here. Typical sale multiple: 1.8x - 2.8x SDE + Inventory.
Electronics & Repair: 440 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE.
Sporting Goods & Firearms: 373 employer businesses here. Typical sale multiple: 2.3x - 3.4x SDE.
Financial & Professional Services
8,222 related employer businesses in Tennessee.
Insurance Agencies: 2,565 employer businesses here. Typical sale multiple: 6.0x - 8.0x EBITDA.
Accounting & Tax Practices: 1,933 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE.
Real Estate Brokerages: 1,637 employer businesses here. Typical sale multiple: 2.5x - 4.5x SDE.
Wealth Management: 1,010 employer businesses here. Typical sale multiple: 2.7x - 4.0x Recurring Revenue.
Private Lending: 979 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Mortgage Brokerages: 98 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE.
Automotive & Boat
5,620 related employer businesses in Tennessee.
Auto Repair: 1,817 employer businesses here. Typical sale multiple: 2.5x - 3.2x SDE.
Auto Parts: 1,229 employer businesses here. Typical sale multiple: 2.5x - 3.2x SDE + Inventory.
Car Dealerships: 1,155 employer businesses here. Typical sale multiple: 2x - 8x Blue Sky + Assets.
Collision Repair: 613 employer businesses here. Typical sale multiple: 3.5x - 5.0x EBITDA.
Car Washes: 371 employer businesses here. Typical sale multiple: 4.5x - 7.0x EBITDA.
Towing & Repo: 245 employer businesses here. Typical sale multiple: 3.0x - 4.0x EBITDA + Fleet.
Marinas: 103 employer businesses here. Typical sale multiple: Cap Rate or 4.0x - 7.0x EBITDA.
Boat Dealerships: 87 employer businesses here. Typical sale multiple: 3.0x - 4.5x EBITDA.
Logistics & Transportation
4,692 related employer businesses in Tennessee.
General Freight Trucking: 2,768 employer businesses here. Typical sale multiple: 2.44x - 3.45x SDE.
Warehousing & Fulfillment: 605 employer businesses here. Typical sale multiple: 3.0x - 4.5x SDE.
Last-Mile & Courier: 536 employer businesses here. Typical sale multiple: 2.76x - 3.32x SDE.
Freight Brokerage & 3PL: 382 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Heavy Haul Transport: 175 employer businesses here. Typical sale multiple: 3.5x - 4.5x SDE.
Commercial Moving: 157 employer businesses here. Typical sale multiple: 1.5x - 3.0x SDE.
NEMT & Passenger Transport: 69 employer businesses here. Typical sale multiple: 2.1x - 3.1x SDE.
Port Drayage. Typical sale multiple: 2.5x - 3.5x SDE.
Manufacturing
4,503 related employer businesses in Tennessee.
Metal Fabrication: 1,036 employer businesses here. Typical sale multiple: 3.2x - 4.2x SDE.
Printing & Plastics: 808 employer businesses here. Typical sale multiple: 2.9x - 4.9x SDE.
Wood & Furniture Manufacturing: 725 employer businesses here. Typical sale multiple: 2.5x - 3.8x SDE.
Food & Beverage Manufacturing: 706 employer businesses here. Typical sale multiple: 3.1x - 4.5x SDE.
Medical & Chemical Manufacturing: 469 employer businesses here. Typical sale multiple: 4.5x - 8.0x EBITDA.
Construction Materials Manufacturing: 351 employer businesses here. Typical sale multiple: 2.5x - 5.0x EBITDA.
Electronics & Tech Manufacturing: 213 employer businesses here. Typical sale multiple: 4.0x - 7.5x EBITDA.
Textile & Apparel Manufacturing: 195 employer businesses here. Typical sale multiple: 2.5x - 3.8x SDE.
Gas Stations & Convenience
4,117 related employer businesses in Tennessee.
Gas Stations: 3,442 employer businesses here. Typical sale multiple: 3.0x - 4.5x EBITDA + Real Estate.
Convenience Stores: 675 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.
Wholesale & Distribution
3,256 related employer businesses in Tennessee.
Industrial & Construction Supply: 1,525 employer businesses here. Typical sale multiple: 3.0x - 4.0x SDE.
Electronics, IT & Office Equipment Distribution: 567 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Food & Beverage Distribution: 505 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Chemicals, Plastics & Raw Materials Distribution: 240 employer businesses here. Typical sale multiple: 3.0x - 4.5x EBITDA.
Packaging, Paper & JanSan Distribution: 167 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Medical, Dental & Pharmaceutical Distribution: 145 employer businesses here. Typical sale multiple: 3.5x - 4.5x EBITDA.
Consumer Goods & Apparel Distribution: 107 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE + Inventory.
Home Services
2,999 related employer businesses in Tennessee.
Property Management: 1,250 employer businesses here. Typical sale multiple: 3.0x - 4.5x SDE.
Residential Cleaning: 1,182 employer businesses here. Typical sale multiple: 1.5x - 2.6x SDE.
Commercial Cleaning: 1,182 employer businesses here. Typical sale multiple: 2.47x - 4.11x EBITDA.
Pest Control: 424 employer businesses here. Typical sale multiple: 2.34x - 2.90x SDE.
Security Systems: 143 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.
Technology & Media
2,107 related employer businesses in Tennessee.
Media, Film & Studio Production: 631 employer businesses here. Typical sale multiple: 2.2x - 3.5x SDE.
Digital Marketing Agencies: 542 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE.
Creative Agencies: 437 employer businesses here. Typical sale multiple: 1.8x - 3.0x SDE.
Software Companies (SaaS): 261 employer businesses here. Typical sale multiple: 3.5x - 5.5x SDE.
Real Estate Media: 236 employer businesses here. Typical sale multiple: 1.5x - 2.8x SDE.
E-commerce & Online Brands. Typical sale multiple: 2.5x - 4.0x SDE + Inventory.
Beauty & Personal Care
2,063 related employer businesses in Tennessee.
Hair Salons: 1,062 employer businesses here. Typical sale multiple: 1.25x - 2.34x SDE.
Day Spas: 572 employer businesses here. Typical sale multiple: 1.8x - 2.8x SDE.
Tattoo Shops: 572 employer businesses here. Typical sale multiple: 1.5x - 2.5x SDE.
Massage Parlors: 572 employer businesses here. Typical sale multiple: 1.5x - 2.5x SDE.
Nail Salons: 314 employer businesses here. Typical sale multiple: 1.4x - 1.88x SDE.
Barber Shops: 115 employer businesses here. Typical sale multiple: 1.5x - 2.25x SDE.
Medical Spas. Typical sale multiple: 2.5x - 4.5x EBITDA.
Pharmacies & Medical Supply
2,023 related employer businesses in Tennessee.
Compounding Pharmacies: 904 employer businesses here. Typical sale multiple: 3.5x - 5.5x EBITDA.
Specialty Pharmacies: 904 employer businesses here. Typical sale multiple: 4.0x - 6.5x EBITDA.
Home Infusion: 636 employer businesses here. Typical sale multiple: 4.0x - 6.5x EBITDA.
Durable Medical Equipment (DME): 276 employer businesses here. Typical sale multiple: 3.0x - 5.0x EBITDA.
Medical Supply Retail: 207 employer businesses here. Typical sale multiple: 2.5x - 4.0x SDE + Inventory.
Hospitality & Travel
2,020 related employer businesses in Tennessee.
Hotels: 1,454 employer businesses here. Typical sale multiple: 2.6x - 5.1x EBITDA.
Motels: 1,454 employer businesses here. Typical sale multiple: 1.1x - 2.5x SDE.
Transportation Services: 323 employer businesses here. Typical sale multiple: 2.0x - 4.1x SDE.
Campgrounds & RV Parks: 118 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA.
Travel Agencies: 98 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.
Education & Childcare
1,368 related employer businesses in Tennessee.
Daycare Centers: 1,242 employer businesses here. Typical sale multiple: 2.39x - 3.35x SDE.
Tutoring Centers: 126 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE.
Preschools. Typical sale multiple: 3.12x - 4.0x SDE.
Health & Fitness
1,368 related employer businesses in Tennessee.
Gyms & Health Clubs: 786 employer businesses here. Typical sale multiple: 2.44x - 2.93x SDE.
Yoga Studios: 786 employer businesses here. Typical sale multiple: 2.07x - 2.50x SDE.
Pilates Studios: 786 employer businesses here. Typical sale multiple: 2.10x - 3.00x SDE.
Personal Training Studios: 786 employer businesses here. Typical sale multiple: 2.00x - 2.80x SDE.
Wellness & Recovery Centers: 582 employer businesses here. Typical sale multiple: 5.5x - 9.7x EBITDA.
Entertainment & Recreation
1,104 related employer businesses in Tennessee.
Outdoor Recreation: 416 employer businesses here. Typical sale multiple: 2.0x - 4.0x SDE.
Bars & Pubs: 384 employer businesses here. Typical sale multiple: 2.0x - 4.0x SDE.
Clubs & Lounges: 384 employer businesses here. Typical sale multiple: 3.0x - 6.0x EBITDA.
Golf Courses: 174 employer businesses here. Typical sale multiple: 8.0x - 11.0x EBITDA.
Arcades & FECs: 83 employer businesses here. Typical sale multiple: 2.1x - 3.6x SDE.
Bowling Alleys: 47 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.
Senior Care & Living
991 related employer businesses in Tennessee.
Non-Medical Home Care: 616 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Assisted Living Facilities: 301 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA + Real Estate.
Senior Living Communities: 74 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA + Real Estate.
Adult Day Services. Typical sale multiple: 2.5x - 4.0x SDE.
Energy & Utilities
968 related employer businesses in Tennessee.
Waste Management & Recycling: 413 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA + Assets.
Propane & Fuel Distribution: 260 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA + Assets.
Water & Wastewater Services: 241 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA.
Oil & Gas Services: 39 employer businesses here. Typical sale multiple: 3.0x - 5.0x EBITDA + Equipment.
Solar & Renewable Energy: 15 employer businesses here. Typical sale multiple: 3.5x - 6.0x EBITDA.
Pet Services
699 related employer businesses in Tennessee.
Pet Grooming & Spas: 514 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE.
Boarding, Daycare & Training: 514 employer businesses here. Typical sale multiple: 3.0x - 4.5x EBITDA.
Pet Retail & Specialty Supplies: 185 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 Tennessee. 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.
Restaurants & Food
14,133 related employer businesses in Tennessee.
Quick-Service & Fast Food: 5,735 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Full-Service Restaurants: 4,962 employer businesses here. Typical sale multiple: 1.5x - 2.5x SDE.
Coffee Shops: 1,511 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE.
Grocery Stores & Markets: 1,077 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE + Inventory.
Liquor, Wine & Beer Stores: 736 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE + Inventory.
Bakeries: 112 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE.
Ghost Kitchens. Typical sale multiple: 2.0x - 3.0x SDE.
Construction & Engineering
13,894 related employer businesses in Tennessee.
General Contracting: 3,751 employer businesses here. Typical sale multiple: 3.0x - 4.5x SDE.
Landscaping: 1,991 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Plumbing: 1,899 employer businesses here. Typical sale multiple: 3.5x - 5.0x SDE.
HVAC Services: 1,899 employer businesses here. Typical sale multiple: 4.6x - 7.0x EBITDA.
Interior Finishing: 1,644 employer businesses here. Typical sale multiple: 2.5x - 4.0x SDE.
Foundation & Site Prep: 1,374 employer businesses here. Typical sale multiple: 2.5x - 4.0x EBITDA + Fleet.
Electrical: 1,315 employer businesses here. Typical sale multiple: 4.0x - 8.0x EBITDA.
Civil Engineering: 855 employer businesses here. Typical sale multiple: 7.0x - 11.0x EBITDA.
Roofing & Siding: 579 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Masonry: 228 employer businesses here. Typical sale multiple: 2.5x - 4.0x EBITDA + Equipment.
Carpentry & Framing: 140 employer businesses here. Typical sale multiple: 2.5x - 4.0x SDE.
Remediation & Restoration: 118 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA.
Medical Practices
10,932 related employer businesses in Tennessee.
Primary & Family Care: 4,291 employer businesses here. Typical sale multiple: 2.2x - 3.2x SDE.
Dental Practices: 2,225 employer businesses here. Typical sale multiple: 3.5x - 5.5x EBITDA.
Mental & Behavioral Health: 802 employer businesses here. Typical sale multiple: 2.5x - 4.0x SDE.
Physical Therapy & Rehab: 773 employer businesses here. Typical sale multiple: 3.5x - 5.0x EBITDA.
Veterinary Medicine: 720 employer businesses here. Typical sale multiple: 6.0x - 9.0x EBITDA.
Home Health & Hospice: 636 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA.
Medical Labs & Imaging: 603 employer businesses here. Typical sale multiple: 4.5x - 6.5x EBITDA.
Vision & Eye Care: 445 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Urgent Care Clinics: 257 employer businesses here. Typical sale multiple: 4.0x - 6.0x EBITDA.
Specialty Medicine: 180 employer businesses here. Typical sale multiple: 5.0x - 7.0x EBITDA.
Retail Stores
8,573 related employer businesses in Tennessee.
Fashion, Apparel & Jewelry: 2,612 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE + Inventory.
Health, Beauty & Pharmacy: 1,872 employer businesses here. Typical sale multiple: 2.8x - 4.2x EBITDA.
Hardware, Garden & Building: 1,687 employer businesses here. Typical sale multiple: 2.5x - 3.8x SDE + Inventory.
Home Decor & Furniture: 998 employer businesses here. Typical sale multiple: 2.2x - 3.2x SDE + Inventory.
Hobby, Toys & Gift Shops: 591 employer businesses here. Typical sale multiple: 1.8x - 2.8x SDE + Inventory.
Electronics & Repair: 440 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE.
Sporting Goods & Firearms: 373 employer businesses here. Typical sale multiple: 2.3x - 3.4x SDE.
Financial & Professional Services
8,222 related employer businesses in Tennessee.
Insurance Agencies: 2,565 employer businesses here. Typical sale multiple: 6.0x - 8.0x EBITDA.
Accounting & Tax Practices: 1,933 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE.
Real Estate Brokerages: 1,637 employer businesses here. Typical sale multiple: 2.5x - 4.5x SDE.
Wealth Management: 1,010 employer businesses here. Typical sale multiple: 2.7x - 4.0x Recurring Revenue.
Private Lending: 979 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Mortgage Brokerages: 98 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE.
Automotive & Boat
5,620 related employer businesses in Tennessee.
Auto Repair: 1,817 employer businesses here. Typical sale multiple: 2.5x - 3.2x SDE.
Auto Parts: 1,229 employer businesses here. Typical sale multiple: 2.5x - 3.2x SDE + Inventory.
Car Dealerships: 1,155 employer businesses here. Typical sale multiple: 2x - 8x Blue Sky + Assets.
Collision Repair: 613 employer businesses here. Typical sale multiple: 3.5x - 5.0x EBITDA.
Car Washes: 371 employer businesses here. Typical sale multiple: 4.5x - 7.0x EBITDA.
Towing & Repo: 245 employer businesses here. Typical sale multiple: 3.0x - 4.0x EBITDA + Fleet.
Marinas: 103 employer businesses here. Typical sale multiple: Cap Rate or 4.0x - 7.0x EBITDA.
Boat Dealerships: 87 employer businesses here. Typical sale multiple: 3.0x - 4.5x EBITDA.
Logistics & Transportation
4,692 related employer businesses in Tennessee.
General Freight Trucking: 2,768 employer businesses here. Typical sale multiple: 2.44x - 3.45x SDE.
Warehousing & Fulfillment: 605 employer businesses here. Typical sale multiple: 3.0x - 4.5x SDE.
Last-Mile & Courier: 536 employer businesses here. Typical sale multiple: 2.76x - 3.32x SDE.
Freight Brokerage & 3PL: 382 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Heavy Haul Transport: 175 employer businesses here. Typical sale multiple: 3.5x - 4.5x SDE.
Commercial Moving: 157 employer businesses here. Typical sale multiple: 1.5x - 3.0x SDE.
NEMT & Passenger Transport: 69 employer businesses here. Typical sale multiple: 2.1x - 3.1x SDE.
Port Drayage. Typical sale multiple: 2.5x - 3.5x SDE.
Manufacturing
4,503 related employer businesses in Tennessee.
Metal Fabrication: 1,036 employer businesses here. Typical sale multiple: 3.2x - 4.2x SDE.
Printing & Plastics: 808 employer businesses here. Typical sale multiple: 2.9x - 4.9x SDE.
Wood & Furniture Manufacturing: 725 employer businesses here. Typical sale multiple: 2.5x - 3.8x SDE.
Food & Beverage Manufacturing: 706 employer businesses here. Typical sale multiple: 3.1x - 4.5x SDE.
Medical & Chemical Manufacturing: 469 employer businesses here. Typical sale multiple: 4.5x - 8.0x EBITDA.
Construction Materials Manufacturing: 351 employer businesses here. Typical sale multiple: 2.5x - 5.0x EBITDA.
Electronics & Tech Manufacturing: 213 employer businesses here. Typical sale multiple: 4.0x - 7.5x EBITDA.
Textile & Apparel Manufacturing: 195 employer businesses here. Typical sale multiple: 2.5x - 3.8x SDE.
Gas Stations & Convenience
4,117 related employer businesses in Tennessee.
Gas Stations: 3,442 employer businesses here. Typical sale multiple: 3.0x - 4.5x EBITDA + Real Estate.
Convenience Stores: 675 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.
Wholesale & Distribution
3,256 related employer businesses in Tennessee.
Industrial & Construction Supply: 1,525 employer businesses here. Typical sale multiple: 3.0x - 4.0x SDE.
Electronics, IT & Office Equipment Distribution: 567 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Food & Beverage Distribution: 505 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Chemicals, Plastics & Raw Materials Distribution: 240 employer businesses here. Typical sale multiple: 3.0x - 4.5x EBITDA.
Packaging, Paper & JanSan Distribution: 167 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Medical, Dental & Pharmaceutical Distribution: 145 employer businesses here. Typical sale multiple: 3.5x - 4.5x EBITDA.
Consumer Goods & Apparel Distribution: 107 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE + Inventory.
Home Services
2,999 related employer businesses in Tennessee.
Property Management: 1,250 employer businesses here. Typical sale multiple: 3.0x - 4.5x SDE.
Residential Cleaning: 1,182 employer businesses here. Typical sale multiple: 1.5x - 2.6x SDE.
Commercial Cleaning: 1,182 employer businesses here. Typical sale multiple: 2.47x - 4.11x EBITDA.
Pest Control: 424 employer businesses here. Typical sale multiple: 2.34x - 2.90x SDE.
Security Systems: 143 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.
Technology & Media
2,107 related employer businesses in Tennessee.
Media, Film & Studio Production: 631 employer businesses here. Typical sale multiple: 2.2x - 3.5x SDE.
Digital Marketing Agencies: 542 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE.
Creative Agencies: 437 employer businesses here. Typical sale multiple: 1.8x - 3.0x SDE.
Software Companies (SaaS): 261 employer businesses here. Typical sale multiple: 3.5x - 5.5x SDE.
Real Estate Media: 236 employer businesses here. Typical sale multiple: 1.5x - 2.8x SDE.
E-commerce & Online Brands. Typical sale multiple: 2.5x - 4.0x SDE + Inventory.
Beauty & Personal Care
2,063 related employer businesses in Tennessee.
Hair Salons: 1,062 employer businesses here. Typical sale multiple: 1.25x - 2.34x SDE.
Day Spas: 572 employer businesses here. Typical sale multiple: 1.8x - 2.8x SDE.
Tattoo Shops: 572 employer businesses here. Typical sale multiple: 1.5x - 2.5x SDE.
Massage Parlors: 572 employer businesses here. Typical sale multiple: 1.5x - 2.5x SDE.
Nail Salons: 314 employer businesses here. Typical sale multiple: 1.4x - 1.88x SDE.
Barber Shops: 115 employer businesses here. Typical sale multiple: 1.5x - 2.25x SDE.
Medical Spas. Typical sale multiple: 2.5x - 4.5x EBITDA.
Pharmacies & Medical Supply
2,023 related employer businesses in Tennessee.
Compounding Pharmacies: 904 employer businesses here. Typical sale multiple: 3.5x - 5.5x EBITDA.
Specialty Pharmacies: 904 employer businesses here. Typical sale multiple: 4.0x - 6.5x EBITDA.
Home Infusion: 636 employer businesses here. Typical sale multiple: 4.0x - 6.5x EBITDA.
Durable Medical Equipment (DME): 276 employer businesses here. Typical sale multiple: 3.0x - 5.0x EBITDA.
Medical Supply Retail: 207 employer businesses here. Typical sale multiple: 2.5x - 4.0x SDE + Inventory.
Hospitality & Travel
2,020 related employer businesses in Tennessee.
Hotels: 1,454 employer businesses here. Typical sale multiple: 2.6x - 5.1x EBITDA.
Motels: 1,454 employer businesses here. Typical sale multiple: 1.1x - 2.5x SDE.
Transportation Services: 323 employer businesses here. Typical sale multiple: 2.0x - 4.1x SDE.
Campgrounds & RV Parks: 118 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA.
Travel Agencies: 98 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.
Education & Childcare
1,368 related employer businesses in Tennessee.
Daycare Centers: 1,242 employer businesses here. Typical sale multiple: 2.39x - 3.35x SDE.
Tutoring Centers: 126 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE.
Preschools. Typical sale multiple: 3.12x - 4.0x SDE.
Health & Fitness
1,368 related employer businesses in Tennessee.
Gyms & Health Clubs: 786 employer businesses here. Typical sale multiple: 2.44x - 2.93x SDE.
Yoga Studios: 786 employer businesses here. Typical sale multiple: 2.07x - 2.50x SDE.
Pilates Studios: 786 employer businesses here. Typical sale multiple: 2.10x - 3.00x SDE.
Personal Training Studios: 786 employer businesses here. Typical sale multiple: 2.00x - 2.80x SDE.
Wellness & Recovery Centers: 582 employer businesses here. Typical sale multiple: 5.5x - 9.7x EBITDA.
Entertainment & Recreation
1,104 related employer businesses in Tennessee.
Outdoor Recreation: 416 employer businesses here. Typical sale multiple: 2.0x - 4.0x SDE.
Bars & Pubs: 384 employer businesses here. Typical sale multiple: 2.0x - 4.0x SDE.
Clubs & Lounges: 384 employer businesses here. Typical sale multiple: 3.0x - 6.0x EBITDA.
Golf Courses: 174 employer businesses here. Typical sale multiple: 8.0x - 11.0x EBITDA.
Arcades & FECs: 83 employer businesses here. Typical sale multiple: 2.1x - 3.6x SDE.
Bowling Alleys: 47 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.
Senior Care & Living
991 related employer businesses in Tennessee.
Non-Medical Home Care: 616 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Assisted Living Facilities: 301 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA + Real Estate.
Senior Living Communities: 74 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA + Real Estate.
Adult Day Services. Typical sale multiple: 2.5x - 4.0x SDE.
Energy & Utilities
968 related employer businesses in Tennessee.
Waste Management & Recycling: 413 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA + Assets.
Propane & Fuel Distribution: 260 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA + Assets.
Water & Wastewater Services: 241 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA.
Oil & Gas Services: 39 employer businesses here. Typical sale multiple: 3.0x - 5.0x EBITDA + Equipment.
Solar & Renewable Energy: 15 employer businesses here. Typical sale multiple: 3.5x - 6.0x EBITDA.
Pet Services
699 related employer businesses in Tennessee.
Pet Grooming & Spas: 514 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE.
Boarding, Daycare & Training: 514 employer businesses here. Typical sale multiple: 3.0x - 4.5x EBITDA.
Pet Retail & Specialty Supplies: 185 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 Tennessee
Business Advisors of America works with owners who are selling a business in Tennessee. Contact us to talk about a sale.
FREQUENTLY ASKED QUESTIONS
Questions owners in Tennessee ask
How long does it take to sell a business in Tennessee?
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 Tennessee?
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 Tennessee
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