Selling a Business in Vermont
Selling a business in Vermont means pricing it correctly, preparing the records a buyer will ask for and finding a buyer who can pay and close. Vermont has 20,841 employer businesses and about 65,998 more with no employees. This page covers the numbers, the steps and what buyers look for.
LOCAL SNAPSHOT
Vermont by the numbers
20,841
20,841
EMPLOYER BUSINESSES
88%
88%
SMALL EMPLOYER SHARE
65,998
65,998
BUSINESSES WITH NO EMPLOYEES
256,460
256,460
EMPLOYMENT
$14.4 billion
$14.4 billion
ANNUAL PAYROLL
8,198
8,198
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 Vermont compares
Vermont ranks 51st among the 50 states and the District of Columbia for employer businesses.
The number of employer businesses fell 0.8% between 2018 and 2023.
Manufacturing makes up 5% of employer businesses in Vermont, compared with 3% nationwide.
8,198 employer businesses here have 5 to 49 employees.
Vermont ranks 51st among the 50 states and the District of Columbia for employer businesses.
The number of employer businesses fell 0.8% between 2018 and 2023.
Manufacturing makes up 5% of employer businesses in Vermont, compared with 3% nationwide.
8,198 employer businesses here have 5 to 49 employees.
How a sale works in Vermont
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 Vermont
Notice when assets are sold
Vermont's bulk sales law says that when a business that collects or withholds trust taxes, such as sales tax or employee withholding, sells or transfers any part or all of its assets outside the ordinary course of business, the buyer shall notify the Commissioner of Taxes in writing at least 10 days before taking possession or paying, whichever comes first. The notice gives the price, terms and conditions of the sale. A buyer who does not comply is personally liable for the seller's unpaid trust taxes. Source: Vermont Statutes, 32 V.S.A. section 3260
Sales tax and the buyer's liability
Vermont's Department of Taxes says that when a business or the assets of a closed business are sold, the buyer may ask the Department for a Notice of Escrow, also called a tax certificate or clearance. The Department says the notice tells the buyer what taxes are due for which the buyer might become responsible, which is called successor liability. The Department asks sellers to pay all taxes due up to the closing date. Source: Department of Taxes close a business page
Permits and registrations
Vermont law says sales tax licenses are nonassignable and nontransferable. The license is surrendered to the Commissioner of Taxes as soon as the holder stops doing business at the place named on it, so a buyer does not take over the seller's license. Source: Vermont Statutes, 32 V.S.A. section 9707
Unemployment insurance account
Vermont's Department of Labor says that when a business is acquired, experience rate transfer means the tax rate of the purchased company becomes the tax rate of the new owner, along with the benefit charges and taxable wages used to compute it. The Department says a buyer that already had an unemployment account keeps its own rate for the rest of the rate year, and the accounts are then merged as of July 1. Final decisions on a rate transfer wait until all forms are returned. Source: Department of Labor successor employer page
These points come from official Vermont 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 Vermont
Notice when assets are sold
Vermont's bulk sales law says that when a business that collects or withholds trust taxes, such as sales tax or employee withholding, sells or transfers any part or all of its assets outside the ordinary course of business, the buyer shall notify the Commissioner of Taxes in writing at least 10 days before taking possession or paying, whichever comes first. The notice gives the price, terms and conditions of the sale. A buyer who does not comply is personally liable for the seller's unpaid trust taxes. Source: Vermont Statutes, 32 V.S.A. section 3260
Sales tax and the buyer's liability
Vermont's Department of Taxes says that when a business or the assets of a closed business are sold, the buyer may ask the Department for a Notice of Escrow, also called a tax certificate or clearance. The Department says the notice tells the buyer what taxes are due for which the buyer might become responsible, which is called successor liability. The Department asks sellers to pay all taxes due up to the closing date. Source: Department of Taxes close a business page
Permits and registrations
Vermont law says sales tax licenses are nonassignable and nontransferable. The license is surrendered to the Commissioner of Taxes as soon as the holder stops doing business at the place named on it, so a buyer does not take over the seller's license. Source: Vermont Statutes, 32 V.S.A. section 9707
Unemployment insurance account
Vermont's Department of Labor says that when a business is acquired, experience rate transfer means the tax rate of the purchased company becomes the tax rate of the new owner, along with the benefit charges and taxable wages used to compute it. The Department says a buyer that already had an unemployment account keeps its own rate for the rest of the rate year, and the accounts are then merged as of July 1. Final decisions on a rate transfer wait until all forms are returned. Source: Department of Labor successor employer page
These points come from official Vermont 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 Vermont
Retail, construction, health care and social assistance, professional and technical services
Every kind of business we sell in Vermont
We sell businesses in every one of these industries in Vermont. 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
3,363 related employer businesses in Vermont.
General Contracting: 949 employer businesses here. Typical sale multiple: 3.0x - 4.5x SDE.
Landscaping: 521 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Interior Finishing: 412 employer businesses here. Typical sale multiple: 2.5x - 4.0x SDE.
Foundation & Site Prep: 394 employer businesses here. Typical sale multiple: 2.5x - 4.0x EBITDA + Fleet.
Electrical: 324 employer businesses here. Typical sale multiple: 4.0x - 8.0x EBITDA.
Plumbing: 303 employer businesses here. Typical sale multiple: 3.5x - 5.0x SDE.
HVAC Services: 303 employer businesses here. Typical sale multiple: 4.6x - 7.0x EBITDA.
Civil Engineering: 181 employer businesses here. Typical sale multiple: 7.0x - 11.0x EBITDA.
Roofing & Siding: 104 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Masonry: 88 employer businesses here. Typical sale multiple: 2.5x - 4.0x EBITDA + Equipment.
Carpentry & Framing: 61 employer businesses here. Typical sale multiple: 2.5x - 4.0x SDE.
Remediation & Restoration: 26 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA.
Restaurants & Food
1,502 related employer businesses in Vermont.
Full-Service Restaurants: 595 employer businesses here. Typical sale multiple: 1.5x - 2.5x SDE.
Quick-Service & Fast Food: 435 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Grocery Stores & Markets: 221 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE + Inventory.
Coffee Shops: 175 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE.
Liquor, Wine & Beer Stores: 46 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE + Inventory.
Bakeries: 30 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE.
Ghost Kitchens. Typical sale multiple: 2.0x - 3.0x SDE.
Medical Practices
1,060 related employer businesses in Vermont.
Dental Practices: 235 employer businesses here. Typical sale multiple: 3.5x - 5.5x EBITDA.
Primary & Family Care: 230 employer businesses here. Typical sale multiple: 2.2x - 3.2x SDE.
Mental & Behavioral Health: 194 employer businesses here. Typical sale multiple: 2.5x - 4.0x SDE.
Physical Therapy & Rehab: 133 employer businesses here. Typical sale multiple: 3.5x - 5.0x EBITDA.
Veterinary Medicine: 118 employer businesses here. Typical sale multiple: 6.0x - 9.0x EBITDA.
Vision & Eye Care: 46 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Home Health & Hospice: 42 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA.
Specialty Medicine: 31 employer businesses here. Typical sale multiple: 5.0x - 7.0x EBITDA.
Medical Labs & Imaging: 16 employer businesses here. Typical sale multiple: 4.5x - 6.5x EBITDA.
Urgent Care Clinics: 15 employer businesses here. Typical sale multiple: 4.0x - 6.0x EBITDA.
Retail Stores
1,005 related employer businesses in Vermont.
Hardware, Garden & Building: 282 employer businesses here. Typical sale multiple: 2.5x - 3.8x SDE + Inventory.
Fashion, Apparel & Jewelry: 205 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE + Inventory.
Health, Beauty & Pharmacy: 145 employer businesses here. Typical sale multiple: 2.8x - 4.2x EBITDA.
Home Decor & Furniture: 128 employer businesses here. Typical sale multiple: 2.2x - 3.2x SDE + Inventory.
Sporting Goods & Firearms: 112 employer businesses here. Typical sale multiple: 2.3x - 3.4x SDE.
Hobby, Toys & Gift Shops: 83 employer businesses here. Typical sale multiple: 1.8x - 2.8x SDE + Inventory.
Electronics & Repair: 50 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE.
Financial & Professional Services
921 related employer businesses in Vermont.
Accounting & Tax Practices: 284 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE.
Real Estate Brokerages: 243 employer businesses here. Typical sale multiple: 2.5x - 4.5x SDE.
Insurance Agencies: 208 employer businesses here. Typical sale multiple: 6.0x - 8.0x EBITDA.
Wealth Management: 163 employer businesses here. Typical sale multiple: 2.7x - 4.0x Recurring Revenue.
Private Lending: 16 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Mortgage Brokerages: 7 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE.
Manufacturing
855 related employer businesses in Vermont.
Food & Beverage Manufacturing: 296 employer businesses here. Typical sale multiple: 3.1x - 4.5x SDE.
Wood & Furniture Manufacturing: 148 employer businesses here. Typical sale multiple: 2.5x - 3.8x SDE.
Metal Fabrication: 98 employer businesses here. Typical sale multiple: 3.2x - 4.2x SDE.
Construction Materials Manufacturing: 88 employer businesses here. Typical sale multiple: 2.5x - 5.0x EBITDA.
Printing & Plastics: 74 employer businesses here. Typical sale multiple: 2.9x - 4.9x SDE.
Medical & Chemical Manufacturing: 69 employer businesses here. Typical sale multiple: 4.5x - 8.0x EBITDA.
Electronics & Tech Manufacturing: 48 employer businesses here. Typical sale multiple: 4.0x - 7.5x EBITDA.
Textile & Apparel Manufacturing: 34 employer businesses here. Typical sale multiple: 2.5x - 3.8x SDE.
Automotive & Boat
810 related employer businesses in Vermont.
Auto Repair: 354 employer businesses here. Typical sale multiple: 2.5x - 3.2x SDE.
Car Dealerships: 156 employer businesses here. Typical sale multiple: 2x - 8x Blue Sky + Assets.
Auto Parts: 138 employer businesses here. Typical sale multiple: 2.5x - 3.2x SDE + Inventory.
Collision Repair: 86 employer businesses here. Typical sale multiple: 3.5x - 5.0x EBITDA.
Car Washes: 25 employer businesses here. Typical sale multiple: 4.5x - 7.0x EBITDA.
Towing & Repo: 25 employer businesses here. Typical sale multiple: 3.0x - 4.0x EBITDA + Fleet.
Marinas: 14 employer businesses here. Typical sale multiple: Cap Rate or 4.0x - 7.0x EBITDA.
Boat Dealerships: 12 employer businesses here. Typical sale multiple: 3.0x - 4.5x EBITDA.
Gas Stations & Convenience
470 related employer businesses in Vermont.
Gas Stations: 385 employer businesses here. Typical sale multiple: 3.0x - 4.5x EBITDA + Real Estate.
Convenience Stores: 85 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.
Home Services
435 related employer businesses in Vermont.
Residential Cleaning: 214 employer businesses here. Typical sale multiple: 1.5x - 2.6x SDE.
Commercial Cleaning: 214 employer businesses here. Typical sale multiple: 2.47x - 4.11x EBITDA.
Property Management: 188 employer businesses here. Typical sale multiple: 3.0x - 4.5x SDE.
Pest Control: 19 employer businesses here. Typical sale multiple: 2.34x - 2.90x SDE.
Security Systems: 14 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
416 related employer businesses in Vermont.
Hotels: 220 employer businesses here. Typical sale multiple: 2.6x - 5.1x EBITDA.
Motels: 220 employer businesses here. Typical sale multiple: 1.1x - 2.5x SDE.
Bed & Breakfasts / Inns: 96 employer businesses here. Typical sale multiple: 2.0x - 4.0x SDE.
Transportation Services: 44 employer businesses here. Typical sale multiple: 2.0x - 4.1x SDE.
Campgrounds & RV Parks: 40 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA.
Travel Agencies: 16 employer businesses here. Typical sale multiple: 2.3x - 3.2x SDE.
Logistics & Transportation
375 related employer businesses in Vermont.
General Freight Trucking: 268 employer businesses here. Typical sale multiple: 2.44x - 3.45x SDE.
Heavy Haul Transport: 27 employer businesses here. Typical sale multiple: 3.5x - 4.5x SDE.
Warehousing & Fulfillment: 26 employer businesses here. Typical sale multiple: 3.0x - 4.5x SDE.
Commercial Moving: 22 employer businesses here. Typical sale multiple: 1.5x - 3.0x SDE.
Last-Mile & Courier: 22 employer businesses here. Typical sale multiple: 2.76x - 3.32x SDE.
Freight Brokerage & 3PL: 10 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Port Drayage. Typical sale multiple: 2.5x - 3.5x SDE.
Wholesale & Distribution
356 related employer businesses in Vermont.
Industrial & Construction Supply: 135 employer businesses here. Typical sale multiple: 3.0x - 4.0x SDE.
Food & Beverage Distribution: 105 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Electronics, IT & Office Equipment Distribution: 47 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Chemicals, Plastics & Raw Materials Distribution: 21 employer businesses here. Typical sale multiple: 3.0x - 4.5x EBITDA.
Medical, Dental & Pharmaceutical Distribution: 20 employer businesses here. Typical sale multiple: 3.5x - 4.5x EBITDA.
Consumer Goods & Apparel Distribution: 18 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE + Inventory.
Packaging, Paper & JanSan Distribution: 10 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Technology & Media
308 related employer businesses in Vermont.
Creative Agencies: 103 employer businesses here. Typical sale multiple: 1.8x - 3.0x SDE.
Digital Marketing Agencies: 68 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE.
Media, Film & Studio Production: 55 employer businesses here. Typical sale multiple: 2.2x - 3.5x SDE.
Software Companies (SaaS): 47 employer businesses here. Typical sale multiple: 3.5x - 5.5x SDE.
Real Estate Media: 35 employer businesses here. Typical sale multiple: 1.5x - 2.8x SDE.
E-commerce & Online Brands. Typical sale multiple: 2.5x - 4.0x SDE + Inventory.
Education & Childcare
293 related employer businesses in Vermont.
Daycare Centers: 272 employer businesses here. Typical sale multiple: 2.39x - 3.35x SDE.
Tutoring Centers: 21 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE.
Preschools. Typical sale multiple: 3.12x - 4.0x SDE.
Entertainment & Recreation
265 related employer businesses in Vermont.
Bars & Pubs: 105 employer businesses here. Typical sale multiple: 2.0x - 4.0x SDE.
Clubs & Lounges: 105 employer businesses here. Typical sale multiple: 3.0x - 6.0x EBITDA.
Outdoor Recreation: 89 employer businesses here. Typical sale multiple: 2.0x - 4.0x SDE.
Golf Courses: 54 employer businesses here. Typical sale multiple: 8.0x - 11.0x EBITDA.
Bowling Alleys: 10 employer businesses here. Typical sale multiple: 3.0x - 5.0x EBITDA.
Arcades & FECs: 7 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.
Beauty & Personal Care
244 related employer businesses in Vermont.
Hair Salons: 144 employer businesses here. Typical sale multiple: 1.25x - 2.34x SDE.
Day Spas: 53 employer businesses here. Typical sale multiple: 1.8x - 2.8x SDE.
Tattoo Shops: 53 employer businesses here. Typical sale multiple: 1.5x - 2.5x SDE.
Massage Parlors: 53 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: 8 employer businesses here. Typical sale multiple: 1.5x - 2.25x SDE.
Medical Spas. Typical sale multiple: 2.5x - 4.5x EBITDA.
Energy & Utilities
235 related employer businesses in Vermont.
Propane & Fuel Distribution: 124 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA + Assets.
Waste Management & Recycling: 62 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA + Assets.
Water & Wastewater Services: 46 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA.
Oil & Gas Services: 3 employer businesses here. Typical sale multiple: 3.0x - 5.0x EBITDA + Equipment.
Health & Fitness
233 related employer businesses in Vermont.
Wellness & Recovery Centers: 141 employer businesses here. Typical sale multiple: 5.5x - 9.7x EBITDA.
Gyms & Health Clubs: 92 employer businesses here. Typical sale multiple: 2.44x - 2.93x SDE.
Yoga Studios: 92 employer businesses here. Typical sale multiple: 2.07x - 2.50x SDE.
Pilates Studios: 92 employer businesses here. Typical sale multiple: 2.10x - 3.00x SDE.
Personal Training Studios: 92 employer businesses here. Typical sale multiple: 2.00x - 2.80x SDE.
Pharmacies & Medical Supply
174 related employer businesses in Vermont.
Compounding Pharmacies: 92 employer businesses here. Typical sale multiple: 3.5x - 5.5x EBITDA.
Specialty Pharmacies: 92 employer businesses here. Typical sale multiple: 4.0x - 6.5x EBITDA.
Home Infusion: 42 employer businesses here. Typical sale multiple: 4.0x - 6.5x EBITDA.
Durable Medical Equipment (DME): 22 employer businesses here. Typical sale multiple: 3.0x - 5.0x EBITDA.
Medical Supply Retail: 18 employer businesses here. Typical sale multiple: 2.5x - 4.0x SDE + Inventory.
Senior Care & Living
166 related employer businesses in Vermont.
Non-Medical Home Care: 104 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Assisted Living Facilities: 41 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA + Real Estate.
Senior Living Communities: 21 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
90 related employer businesses in Vermont.
Pet Grooming & Spas: 69 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE.
Boarding, Daycare & Training: 69 employer businesses here. Typical sale multiple: 3.0x - 4.5x EBITDA.
Pet Retail & Specialty Supplies: 21 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 Vermont. 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
3,363 related employer businesses in Vermont.
General Contracting: 949 employer businesses here. Typical sale multiple: 3.0x - 4.5x SDE.
Landscaping: 521 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Interior Finishing: 412 employer businesses here. Typical sale multiple: 2.5x - 4.0x SDE.
Foundation & Site Prep: 394 employer businesses here. Typical sale multiple: 2.5x - 4.0x EBITDA + Fleet.
Electrical: 324 employer businesses here. Typical sale multiple: 4.0x - 8.0x EBITDA.
Plumbing: 303 employer businesses here. Typical sale multiple: 3.5x - 5.0x SDE.
HVAC Services: 303 employer businesses here. Typical sale multiple: 4.6x - 7.0x EBITDA.
Civil Engineering: 181 employer businesses here. Typical sale multiple: 7.0x - 11.0x EBITDA.
Roofing & Siding: 104 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Masonry: 88 employer businesses here. Typical sale multiple: 2.5x - 4.0x EBITDA + Equipment.
Carpentry & Framing: 61 employer businesses here. Typical sale multiple: 2.5x - 4.0x SDE.
Remediation & Restoration: 26 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA.
Restaurants & Food
1,502 related employer businesses in Vermont.
Full-Service Restaurants: 595 employer businesses here. Typical sale multiple: 1.5x - 2.5x SDE.
Quick-Service & Fast Food: 435 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Grocery Stores & Markets: 221 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE + Inventory.
Coffee Shops: 175 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE.
Liquor, Wine & Beer Stores: 46 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE + Inventory.
Bakeries: 30 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE.
Ghost Kitchens. Typical sale multiple: 2.0x - 3.0x SDE.
Medical Practices
1,060 related employer businesses in Vermont.
Dental Practices: 235 employer businesses here. Typical sale multiple: 3.5x - 5.5x EBITDA.
Primary & Family Care: 230 employer businesses here. Typical sale multiple: 2.2x - 3.2x SDE.
Mental & Behavioral Health: 194 employer businesses here. Typical sale multiple: 2.5x - 4.0x SDE.
Physical Therapy & Rehab: 133 employer businesses here. Typical sale multiple: 3.5x - 5.0x EBITDA.
Veterinary Medicine: 118 employer businesses here. Typical sale multiple: 6.0x - 9.0x EBITDA.
Vision & Eye Care: 46 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Home Health & Hospice: 42 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA.
Specialty Medicine: 31 employer businesses here. Typical sale multiple: 5.0x - 7.0x EBITDA.
Medical Labs & Imaging: 16 employer businesses here. Typical sale multiple: 4.5x - 6.5x EBITDA.
Urgent Care Clinics: 15 employer businesses here. Typical sale multiple: 4.0x - 6.0x EBITDA.
Retail Stores
1,005 related employer businesses in Vermont.
Hardware, Garden & Building: 282 employer businesses here. Typical sale multiple: 2.5x - 3.8x SDE + Inventory.
Fashion, Apparel & Jewelry: 205 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE + Inventory.
Health, Beauty & Pharmacy: 145 employer businesses here. Typical sale multiple: 2.8x - 4.2x EBITDA.
Home Decor & Furniture: 128 employer businesses here. Typical sale multiple: 2.2x - 3.2x SDE + Inventory.
Sporting Goods & Firearms: 112 employer businesses here. Typical sale multiple: 2.3x - 3.4x SDE.
Hobby, Toys & Gift Shops: 83 employer businesses here. Typical sale multiple: 1.8x - 2.8x SDE + Inventory.
Electronics & Repair: 50 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE.
Financial & Professional Services
921 related employer businesses in Vermont.
Accounting & Tax Practices: 284 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE.
Real Estate Brokerages: 243 employer businesses here. Typical sale multiple: 2.5x - 4.5x SDE.
Insurance Agencies: 208 employer businesses here. Typical sale multiple: 6.0x - 8.0x EBITDA.
Wealth Management: 163 employer businesses here. Typical sale multiple: 2.7x - 4.0x Recurring Revenue.
Private Lending: 16 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Mortgage Brokerages: 7 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE.
Manufacturing
855 related employer businesses in Vermont.
Food & Beverage Manufacturing: 296 employer businesses here. Typical sale multiple: 3.1x - 4.5x SDE.
Wood & Furniture Manufacturing: 148 employer businesses here. Typical sale multiple: 2.5x - 3.8x SDE.
Metal Fabrication: 98 employer businesses here. Typical sale multiple: 3.2x - 4.2x SDE.
Construction Materials Manufacturing: 88 employer businesses here. Typical sale multiple: 2.5x - 5.0x EBITDA.
Printing & Plastics: 74 employer businesses here. Typical sale multiple: 2.9x - 4.9x SDE.
Medical & Chemical Manufacturing: 69 employer businesses here. Typical sale multiple: 4.5x - 8.0x EBITDA.
Electronics & Tech Manufacturing: 48 employer businesses here. Typical sale multiple: 4.0x - 7.5x EBITDA.
Textile & Apparel Manufacturing: 34 employer businesses here. Typical sale multiple: 2.5x - 3.8x SDE.
Automotive & Boat
810 related employer businesses in Vermont.
Auto Repair: 354 employer businesses here. Typical sale multiple: 2.5x - 3.2x SDE.
Car Dealerships: 156 employer businesses here. Typical sale multiple: 2x - 8x Blue Sky + Assets.
Auto Parts: 138 employer businesses here. Typical sale multiple: 2.5x - 3.2x SDE + Inventory.
Collision Repair: 86 employer businesses here. Typical sale multiple: 3.5x - 5.0x EBITDA.
Car Washes: 25 employer businesses here. Typical sale multiple: 4.5x - 7.0x EBITDA.
Towing & Repo: 25 employer businesses here. Typical sale multiple: 3.0x - 4.0x EBITDA + Fleet.
Marinas: 14 employer businesses here. Typical sale multiple: Cap Rate or 4.0x - 7.0x EBITDA.
Boat Dealerships: 12 employer businesses here. Typical sale multiple: 3.0x - 4.5x EBITDA.
Gas Stations & Convenience
470 related employer businesses in Vermont.
Gas Stations: 385 employer businesses here. Typical sale multiple: 3.0x - 4.5x EBITDA + Real Estate.
Convenience Stores: 85 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.
Home Services
435 related employer businesses in Vermont.
Residential Cleaning: 214 employer businesses here. Typical sale multiple: 1.5x - 2.6x SDE.
Commercial Cleaning: 214 employer businesses here. Typical sale multiple: 2.47x - 4.11x EBITDA.
Property Management: 188 employer businesses here. Typical sale multiple: 3.0x - 4.5x SDE.
Pest Control: 19 employer businesses here. Typical sale multiple: 2.34x - 2.90x SDE.
Security Systems: 14 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
416 related employer businesses in Vermont.
Hotels: 220 employer businesses here. Typical sale multiple: 2.6x - 5.1x EBITDA.
Motels: 220 employer businesses here. Typical sale multiple: 1.1x - 2.5x SDE.
Bed & Breakfasts / Inns: 96 employer businesses here. Typical sale multiple: 2.0x - 4.0x SDE.
Transportation Services: 44 employer businesses here. Typical sale multiple: 2.0x - 4.1x SDE.
Campgrounds & RV Parks: 40 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA.
Travel Agencies: 16 employer businesses here. Typical sale multiple: 2.3x - 3.2x SDE.
Logistics & Transportation
375 related employer businesses in Vermont.
General Freight Trucking: 268 employer businesses here. Typical sale multiple: 2.44x - 3.45x SDE.
Heavy Haul Transport: 27 employer businesses here. Typical sale multiple: 3.5x - 4.5x SDE.
Warehousing & Fulfillment: 26 employer businesses here. Typical sale multiple: 3.0x - 4.5x SDE.
Commercial Moving: 22 employer businesses here. Typical sale multiple: 1.5x - 3.0x SDE.
Last-Mile & Courier: 22 employer businesses here. Typical sale multiple: 2.76x - 3.32x SDE.
Freight Brokerage & 3PL: 10 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Port Drayage. Typical sale multiple: 2.5x - 3.5x SDE.
Wholesale & Distribution
356 related employer businesses in Vermont.
Industrial & Construction Supply: 135 employer businesses here. Typical sale multiple: 3.0x - 4.0x SDE.
Food & Beverage Distribution: 105 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Electronics, IT & Office Equipment Distribution: 47 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Chemicals, Plastics & Raw Materials Distribution: 21 employer businesses here. Typical sale multiple: 3.0x - 4.5x EBITDA.
Medical, Dental & Pharmaceutical Distribution: 20 employer businesses here. Typical sale multiple: 3.5x - 4.5x EBITDA.
Consumer Goods & Apparel Distribution: 18 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE + Inventory.
Packaging, Paper & JanSan Distribution: 10 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Technology & Media
308 related employer businesses in Vermont.
Creative Agencies: 103 employer businesses here. Typical sale multiple: 1.8x - 3.0x SDE.
Digital Marketing Agencies: 68 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE.
Media, Film & Studio Production: 55 employer businesses here. Typical sale multiple: 2.2x - 3.5x SDE.
Software Companies (SaaS): 47 employer businesses here. Typical sale multiple: 3.5x - 5.5x SDE.
Real Estate Media: 35 employer businesses here. Typical sale multiple: 1.5x - 2.8x SDE.
E-commerce & Online Brands. Typical sale multiple: 2.5x - 4.0x SDE + Inventory.
Education & Childcare
293 related employer businesses in Vermont.
Daycare Centers: 272 employer businesses here. Typical sale multiple: 2.39x - 3.35x SDE.
Tutoring Centers: 21 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE.
Preschools. Typical sale multiple: 3.12x - 4.0x SDE.
Entertainment & Recreation
265 related employer businesses in Vermont.
Bars & Pubs: 105 employer businesses here. Typical sale multiple: 2.0x - 4.0x SDE.
Clubs & Lounges: 105 employer businesses here. Typical sale multiple: 3.0x - 6.0x EBITDA.
Outdoor Recreation: 89 employer businesses here. Typical sale multiple: 2.0x - 4.0x SDE.
Golf Courses: 54 employer businesses here. Typical sale multiple: 8.0x - 11.0x EBITDA.
Bowling Alleys: 10 employer businesses here. Typical sale multiple: 3.0x - 5.0x EBITDA.
Arcades & FECs: 7 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.
Beauty & Personal Care
244 related employer businesses in Vermont.
Hair Salons: 144 employer businesses here. Typical sale multiple: 1.25x - 2.34x SDE.
Day Spas: 53 employer businesses here. Typical sale multiple: 1.8x - 2.8x SDE.
Tattoo Shops: 53 employer businesses here. Typical sale multiple: 1.5x - 2.5x SDE.
Massage Parlors: 53 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: 8 employer businesses here. Typical sale multiple: 1.5x - 2.25x SDE.
Medical Spas. Typical sale multiple: 2.5x - 4.5x EBITDA.
Energy & Utilities
235 related employer businesses in Vermont.
Propane & Fuel Distribution: 124 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA + Assets.
Waste Management & Recycling: 62 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA + Assets.
Water & Wastewater Services: 46 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA.
Oil & Gas Services: 3 employer businesses here. Typical sale multiple: 3.0x - 5.0x EBITDA + Equipment.
Health & Fitness
233 related employer businesses in Vermont.
Wellness & Recovery Centers: 141 employer businesses here. Typical sale multiple: 5.5x - 9.7x EBITDA.
Gyms & Health Clubs: 92 employer businesses here. Typical sale multiple: 2.44x - 2.93x SDE.
Yoga Studios: 92 employer businesses here. Typical sale multiple: 2.07x - 2.50x SDE.
Pilates Studios: 92 employer businesses here. Typical sale multiple: 2.10x - 3.00x SDE.
Personal Training Studios: 92 employer businesses here. Typical sale multiple: 2.00x - 2.80x SDE.
Pharmacies & Medical Supply
174 related employer businesses in Vermont.
Compounding Pharmacies: 92 employer businesses here. Typical sale multiple: 3.5x - 5.5x EBITDA.
Specialty Pharmacies: 92 employer businesses here. Typical sale multiple: 4.0x - 6.5x EBITDA.
Home Infusion: 42 employer businesses here. Typical sale multiple: 4.0x - 6.5x EBITDA.
Durable Medical Equipment (DME): 22 employer businesses here. Typical sale multiple: 3.0x - 5.0x EBITDA.
Medical Supply Retail: 18 employer businesses here. Typical sale multiple: 2.5x - 4.0x SDE + Inventory.
Senior Care & Living
166 related employer businesses in Vermont.
Non-Medical Home Care: 104 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Assisted Living Facilities: 41 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA + Real Estate.
Senior Living Communities: 21 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
90 related employer businesses in Vermont.
Pet Grooming & Spas: 69 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE.
Boarding, Daycare & Training: 69 employer businesses here. Typical sale multiple: 3.0x - 4.5x EBITDA.
Pet Retail & Specialty Supplies: 21 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 Vermont
Business Advisors of America works with owners who are selling a business in Vermont. Contact us to talk about a sale.
FREQUENTLY ASKED QUESTIONS
Questions owners in Vermont ask
How long does it take to sell a business in Vermont?
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 Vermont?
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 Vermont
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