Selling a Business in Wisconsin
Selling a business in Wisconsin means pricing it correctly, preparing the records a buyer will ask for and finding a buyer who can pay and close. Wisconsin has 144,774 employer businesses and about 407,662 more with no employees. This page covers the numbers, the steps and what buyers look for.
LOCAL SNAPSHOT
Wisconsin by the numbers
144,774
144,774
EMPLOYER BUSINESSES
83%
83%
SMALL EMPLOYER SHARE
407,662
407,662
BUSINESSES WITH NO EMPLOYEES
2,642,958
2,642,958
EMPLOYMENT
$161.5 billion
$161.5 billion
ANNUAL PAYROLL
62,340
62,340
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 Wisconsin compares
Wisconsin ranks 21st among the 50 states and the District of Columbia for employer businesses.
The number of employer businesses grew 2.2% between 2018 and 2023.
Manufacturing makes up 6% of employer businesses in Wisconsin, compared with 3% nationwide.
62,340 employer businesses here have 5 to 49 employees.
Wisconsin ranks 21st among the 50 states and the District of Columbia for employer businesses.
The number of employer businesses grew 2.2% between 2018 and 2023.
Manufacturing makes up 6% of employer businesses in Wisconsin, compared with 3% nationwide.
62,340 employer businesses here have 5 to 49 employees.
How a sale works in Wisconsin
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 Wisconsin
Sales tax and the buyer's liability
The Wisconsin Department of Revenue says the buyer of a business is liable for the seller's unpaid sales and use taxes for that business and should withhold enough of the purchase price to cover them. This is successor liability, which means the buyer becomes responsible for the seller's unpaid taxes. The Department says the buyer should request a clearance certificate as soon as the sale is complete, and if the Department does not act within 90 days of a completed request, the buyer is relieved of liability. Source: Department of Revenue guidance on successor liability and clearance certificates
Permits and registrations
The Wisconsin Department of Revenue says that when someone buys an existing business, the seller's permit or use tax certificate cannot be transferred to the buyer. The buyer applies for a new permit or certificate. Source: Department of Revenue seller's permit FAQ
Unemployment insurance account
The Wisconsin Department of Workforce Development says an employer that transfers or acquires a business must notify the Department within 30 days of the sale. Taking over the seller's unemployment insurance account experience is mandatory when the two businesses have related owners and optional when they are unrelated. An unrelated buyer that wants the seller's experience must file a written application by the contribution report deadline for the quarter after the transfer. Source: Department of Workforce Development employer handbook on business transfers
These points come from official Wisconsin 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 Wisconsin
Sales tax and the buyer's liability
The Wisconsin Department of Revenue says the buyer of a business is liable for the seller's unpaid sales and use taxes for that business and should withhold enough of the purchase price to cover them. This is successor liability, which means the buyer becomes responsible for the seller's unpaid taxes. The Department says the buyer should request a clearance certificate as soon as the sale is complete, and if the Department does not act within 90 days of a completed request, the buyer is relieved of liability. Source: Department of Revenue guidance on successor liability and clearance certificates
Permits and registrations
The Wisconsin Department of Revenue says that when someone buys an existing business, the seller's permit or use tax certificate cannot be transferred to the buyer. The buyer applies for a new permit or certificate. Source: Department of Revenue seller's permit FAQ
Unemployment insurance account
The Wisconsin Department of Workforce Development says an employer that transfers or acquires a business must notify the Department within 30 days of the sale. Taking over the seller's unemployment insurance account experience is mandatory when the two businesses have related owners and optional when they are unrelated. An unrelated buyer that wants the seller's experience must file a written application by the contribution report deadline for the quarter after the transfer. Source: Department of Workforce Development employer handbook on business transfers
These points come from official Wisconsin 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 Wisconsin
Retail, health care and social assistance, accommodation and food service, repair, personal care and other services
Every kind of business we sell in Wisconsin
We sell businesses in every one of these industries in Wisconsin. 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
16,460 related employer businesses in Wisconsin.
General Contracting: 3,923 employer businesses here. Typical sale multiple: 3.0x - 4.5x SDE.
Landscaping: 2,490 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Interior Finishing: 2,489 employer businesses here. Typical sale multiple: 2.5x - 4.0x SDE.
Plumbing: 1,944 employer businesses here. Typical sale multiple: 3.5x - 5.0x SDE.
HVAC Services: 1,944 employer businesses here. Typical sale multiple: 4.6x - 7.0x EBITDA.
Foundation & Site Prep: 1,643 employer businesses here. Typical sale multiple: 2.5x - 4.0x EBITDA + Fleet.
Electrical: 1,459 employer businesses here. Typical sale multiple: 4.0x - 8.0x EBITDA.
Civil Engineering: 878 employer businesses here. Typical sale multiple: 7.0x - 11.0x EBITDA.
Roofing & Siding: 848 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Masonry: 399 employer businesses here. Typical sale multiple: 2.5x - 4.0x EBITDA + Equipment.
Carpentry & Framing: 306 employer businesses here. Typical sale multiple: 2.5x - 4.0x SDE.
Remediation & Restoration: 81 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA.
Restaurants & Food
11,762 related employer businesses in Wisconsin.
Full-Service Restaurants: 4,988 employer businesses here. Typical sale multiple: 1.5x - 2.5x SDE.
Quick-Service & Fast Food: 3,925 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Coffee Shops: 1,243 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE.
Grocery Stores & Markets: 976 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE + Inventory.
Liquor, Wine & Beer Stores: 444 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE + Inventory.
Bakeries: 186 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE.
Ghost Kitchens. Typical sale multiple: 2.0x - 3.0x SDE.
Medical Practices
8,474 related employer businesses in Wisconsin.
Primary & Family Care: 3,107 employer businesses here. Typical sale multiple: 2.2x - 3.2x SDE.
Dental Practices: 1,902 employer businesses here. Typical sale multiple: 3.5x - 5.5x EBITDA.
Mental & Behavioral Health: 848 employer businesses here. Typical sale multiple: 2.5x - 4.0x SDE.
Physical Therapy & Rehab: 747 employer businesses here. Typical sale multiple: 3.5x - 5.0x EBITDA.
Veterinary Medicine: 702 employer businesses here. Typical sale multiple: 6.0x - 9.0x EBITDA.
Home Health & Hospice: 422 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA.
Vision & Eye Care: 363 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Medical Labs & Imaging: 170 employer businesses here. Typical sale multiple: 4.5x - 6.5x EBITDA.
Specialty Medicine: 120 employer businesses here. Typical sale multiple: 5.0x - 7.0x EBITDA.
Urgent Care Clinics: 93 employer businesses here. Typical sale multiple: 4.0x - 6.0x EBITDA.
Financial & Professional Services
8,372 related employer businesses in Wisconsin.
Insurance Agencies: 2,587 employer businesses here. Typical sale multiple: 6.0x - 8.0x EBITDA.
Real Estate Brokerages: 2,071 employer businesses here. Typical sale multiple: 2.5x - 4.5x SDE.
Accounting & Tax Practices: 1,855 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE.
Wealth Management: 1,434 employer businesses here. Typical sale multiple: 2.7x - 4.0x Recurring Revenue.
Private Lending: 381 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Mortgage Brokerages: 44 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE.
Retail Stores
6,733 related employer businesses in Wisconsin.
Fashion, Apparel & Jewelry: 1,624 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE + Inventory.
Hardware, Garden & Building: 1,516 employer businesses here. Typical sale multiple: 2.5x - 3.8x SDE + Inventory.
Health, Beauty & Pharmacy: 1,337 employer businesses here. Typical sale multiple: 2.8x - 4.2x EBITDA.
Home Decor & Furniture: 832 employer businesses here. Typical sale multiple: 2.2x - 3.2x SDE + Inventory.
Hobby, Toys & Gift Shops: 562 employer businesses here. Typical sale multiple: 1.8x - 2.8x SDE + Inventory.
Sporting Goods & Firearms: 485 employer businesses here. Typical sale multiple: 2.3x - 3.4x SDE.
Electronics & Repair: 377 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE.
Manufacturing
6,585 related employer businesses in Wisconsin.
Metal Fabrication: 1,904 employer businesses here. Typical sale multiple: 3.2x - 4.2x SDE.
Food & Beverage Manufacturing: 1,283 employer businesses here. Typical sale multiple: 3.1x - 4.5x SDE.
Printing & Plastics: 1,010 employer businesses here. Typical sale multiple: 2.9x - 4.9x SDE.
Wood & Furniture Manufacturing: 905 employer businesses here. Typical sale multiple: 2.5x - 3.8x SDE.
Medical & Chemical Manufacturing: 504 employer businesses here. Typical sale multiple: 4.5x - 8.0x EBITDA.
Construction Materials Manufacturing: 418 employer businesses here. Typical sale multiple: 2.5x - 5.0x EBITDA.
Electronics & Tech Manufacturing: 406 employer businesses here. Typical sale multiple: 4.0x - 7.5x EBITDA.
Textile & Apparel Manufacturing: 155 employer businesses here. Typical sale multiple: 2.5x - 3.8x SDE.
Automotive & Boat
5,518 related employer businesses in Wisconsin.
Auto Repair: 2,208 employer businesses here. Typical sale multiple: 2.5x - 3.2x SDE.
Auto Parts: 995 employer businesses here. Typical sale multiple: 2.5x - 3.2x SDE + Inventory.
Car Dealerships: 977 employer businesses here. Typical sale multiple: 2x - 8x Blue Sky + Assets.
Collision Repair: 704 employer businesses here. Typical sale multiple: 3.5x - 5.0x EBITDA.
Car Washes: 261 employer businesses here. Typical sale multiple: 4.5x - 7.0x EBITDA.
Boat Dealerships: 152 employer businesses here. Typical sale multiple: 3.0x - 4.5x EBITDA.
Towing & Repo: 142 employer businesses here. Typical sale multiple: 3.0x - 4.0x EBITDA + Fleet.
Marinas: 79 employer businesses here. Typical sale multiple: Cap Rate or 4.0x - 7.0x EBITDA.
Logistics & Transportation
5,405 related employer businesses in Wisconsin.
General Freight Trucking: 3,913 employer businesses here. Typical sale multiple: 2.44x - 3.45x SDE.
Warehousing & Fulfillment: 448 employer businesses here. Typical sale multiple: 3.0x - 4.5x SDE.
Heavy Haul Transport: 278 employer businesses here. Typical sale multiple: 3.5x - 4.5x SDE.
Last-Mile & Courier: 258 employer businesses here. Typical sale multiple: 2.76x - 3.32x SDE.
Freight Brokerage & 3PL: 234 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Commercial Moving: 140 employer businesses here. Typical sale multiple: 1.5x - 3.0x SDE.
NEMT & Passenger Transport: 134 employer businesses here. Typical sale multiple: 2.1x - 3.1x SDE.
Port Drayage. Typical sale multiple: 2.5x - 3.5x SDE.
Entertainment & Recreation
3,919 related employer businesses in Wisconsin.
Bars & Pubs: 2,739 employer businesses here. Typical sale multiple: 2.0x - 4.0x SDE.
Clubs & Lounges: 2,739 employer businesses here. Typical sale multiple: 3.0x - 6.0x EBITDA.
Outdoor Recreation: 547 employer businesses here. Typical sale multiple: 2.0x - 4.0x SDE.
Golf Courses: 356 employer businesses here. Typical sale multiple: 8.0x - 11.0x EBITDA.
Bowling Alleys: 204 employer businesses here. Typical sale multiple: 3.0x - 5.0x EBITDA.
Arcades & FECs: 73 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.
Wholesale & Distribution
3,281 related employer businesses in Wisconsin.
Industrial & Construction Supply: 1,678 employer businesses here. Typical sale multiple: 3.0x - 4.0x SDE.
Food & Beverage Distribution: 619 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Electronics, IT & Office Equipment Distribution: 485 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Chemicals, Plastics & Raw Materials Distribution: 218 employer businesses here. Typical sale multiple: 3.0x - 4.5x EBITDA.
Packaging, Paper & JanSan Distribution: 126 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Medical, Dental & Pharmaceutical Distribution: 86 employer businesses here. Typical sale multiple: 3.5x - 4.5x EBITDA.
Consumer Goods & Apparel Distribution: 69 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE + Inventory.
Gas Stations & Convenience
2,694 related employer businesses in Wisconsin.
Gas Stations: 2,533 employer businesses here. Typical sale multiple: 3.0x - 4.5x EBITDA + Real Estate.
Convenience Stores: 161 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.
Beauty & Personal Care
2,651 related employer businesses in Wisconsin.
Hair Salons: 1,592 employer businesses here. Typical sale multiple: 1.25x - 2.34x SDE.
Nail Salons: 465 employer businesses here. Typical sale multiple: 1.4x - 1.88x SDE.
Day Spas: 461 employer businesses here. Typical sale multiple: 1.8x - 2.8x SDE.
Tattoo Shops: 461 employer businesses here. Typical sale multiple: 1.5x - 2.5x SDE.
Massage Parlors: 461 employer businesses here. Typical sale multiple: 1.5x - 2.5x SDE.
Barber Shops: 133 employer businesses here. Typical sale multiple: 1.5x - 2.25x SDE.
Medical Spas. Typical sale multiple: 2.5x - 4.5x EBITDA.
Home Services
2,490 related employer businesses in Wisconsin.
Residential Cleaning: 1,267 employer businesses here. Typical sale multiple: 1.5x - 2.6x SDE.
Commercial Cleaning: 1,267 employer businesses here. Typical sale multiple: 2.47x - 4.11x EBITDA.
Property Management: 959 employer businesses here. Typical sale multiple: 3.0x - 4.5x SDE.
Pest Control: 184 employer businesses here. Typical sale multiple: 2.34x - 2.90x SDE.
Security Systems: 80 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.
Senior Care & Living
2,245 related employer businesses in Wisconsin.
Non-Medical Home Care: 1,031 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Assisted Living Facilities: 989 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA + Real Estate.
Senior Living Communities: 225 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA + Real Estate.
Adult Day Services. Typical sale multiple: 2.5x - 4.0x SDE.
Hospitality & Travel
2,048 related employer businesses in Wisconsin.
Hotels: 1,168 employer businesses here. Typical sale multiple: 2.6x - 5.1x EBITDA.
Motels: 1,168 employer businesses here. Typical sale multiple: 1.1x - 2.5x SDE.
Transportation Services: 527 employer businesses here. Typical sale multiple: 2.0x - 4.1x SDE.
Campgrounds & RV Parks: 187 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA.
Travel Agencies: 129 employer businesses here. Typical sale multiple: 2.3x - 3.2x SDE.
Bed & Breakfasts / Inns: 37 employer businesses here. Typical sale multiple: 2.0x - 4.0x SDE.
Education & Childcare
1,695 related employer businesses in Wisconsin.
Daycare Centers: 1,588 employer businesses here. Typical sale multiple: 2.39x - 3.35x SDE.
Tutoring Centers: 107 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE.
Preschools. Typical sale multiple: 3.12x - 4.0x SDE.
Technology & Media
1,593 related employer businesses in Wisconsin.
Digital Marketing Agencies: 497 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE.
Creative Agencies: 371 employer businesses here. Typical sale multiple: 1.8x - 3.0x SDE.
Media, Film & Studio Production: 265 employer businesses here. Typical sale multiple: 2.2x - 3.5x SDE.
Real Estate Media: 259 employer businesses here. Typical sale multiple: 1.5x - 2.8x SDE.
Software Companies (SaaS): 201 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
1,413 related employer businesses in Wisconsin.
Compounding Pharmacies: 652 employer businesses here. Typical sale multiple: 3.5x - 5.5x EBITDA.
Specialty Pharmacies: 652 employer businesses here. Typical sale multiple: 4.0x - 6.5x EBITDA.
Home Infusion: 422 employer businesses here. Typical sale multiple: 4.0x - 6.5x EBITDA.
Durable Medical Equipment (DME): 180 employer businesses here. Typical sale multiple: 3.0x - 5.0x EBITDA.
Medical Supply Retail: 159 employer businesses here. Typical sale multiple: 2.5x - 4.0x SDE + Inventory.
Health & Fitness
1,242 related employer businesses in Wisconsin.
Gyms & Health Clubs: 836 employer businesses here. Typical sale multiple: 2.44x - 2.93x SDE.
Yoga Studios: 836 employer businesses here. Typical sale multiple: 2.07x - 2.50x SDE.
Pilates Studios: 836 employer businesses here. Typical sale multiple: 2.10x - 3.00x SDE.
Personal Training Studios: 836 employer businesses here. Typical sale multiple: 2.00x - 2.80x SDE.
Wellness & Recovery Centers: 406 employer businesses here. Typical sale multiple: 5.5x - 9.7x EBITDA.
Energy & Utilities
951 related employer businesses in Wisconsin.
Waste Management & Recycling: 350 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA + Assets.
Propane & Fuel Distribution: 324 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA + Assets.
Water & Wastewater Services: 239 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA.
Oil & Gas Services: 27 employer businesses here. Typical sale multiple: 3.0x - 5.0x EBITDA + Equipment.
Solar & Renewable Energy: 11 employer businesses here. Typical sale multiple: 3.5x - 6.0x EBITDA.
Pet Services
739 related employer businesses in Wisconsin.
Pet Grooming & Spas: 546 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE.
Boarding, Daycare & Training: 546 employer businesses here. Typical sale multiple: 3.0x - 4.5x EBITDA.
Pet Retail & Specialty Supplies: 193 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
3 related employer businesses in Wisconsin.
Agricultural Labor Contracting: 3 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 Wisconsin. 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
16,460 related employer businesses in Wisconsin.
General Contracting: 3,923 employer businesses here. Typical sale multiple: 3.0x - 4.5x SDE.
Landscaping: 2,490 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Interior Finishing: 2,489 employer businesses here. Typical sale multiple: 2.5x - 4.0x SDE.
Plumbing: 1,944 employer businesses here. Typical sale multiple: 3.5x - 5.0x SDE.
HVAC Services: 1,944 employer businesses here. Typical sale multiple: 4.6x - 7.0x EBITDA.
Foundation & Site Prep: 1,643 employer businesses here. Typical sale multiple: 2.5x - 4.0x EBITDA + Fleet.
Electrical: 1,459 employer businesses here. Typical sale multiple: 4.0x - 8.0x EBITDA.
Civil Engineering: 878 employer businesses here. Typical sale multiple: 7.0x - 11.0x EBITDA.
Roofing & Siding: 848 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Masonry: 399 employer businesses here. Typical sale multiple: 2.5x - 4.0x EBITDA + Equipment.
Carpentry & Framing: 306 employer businesses here. Typical sale multiple: 2.5x - 4.0x SDE.
Remediation & Restoration: 81 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA.
Restaurants & Food
11,762 related employer businesses in Wisconsin.
Full-Service Restaurants: 4,988 employer businesses here. Typical sale multiple: 1.5x - 2.5x SDE.
Quick-Service & Fast Food: 3,925 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Coffee Shops: 1,243 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE.
Grocery Stores & Markets: 976 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE + Inventory.
Liquor, Wine & Beer Stores: 444 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE + Inventory.
Bakeries: 186 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE.
Ghost Kitchens. Typical sale multiple: 2.0x - 3.0x SDE.
Medical Practices
8,474 related employer businesses in Wisconsin.
Primary & Family Care: 3,107 employer businesses here. Typical sale multiple: 2.2x - 3.2x SDE.
Dental Practices: 1,902 employer businesses here. Typical sale multiple: 3.5x - 5.5x EBITDA.
Mental & Behavioral Health: 848 employer businesses here. Typical sale multiple: 2.5x - 4.0x SDE.
Physical Therapy & Rehab: 747 employer businesses here. Typical sale multiple: 3.5x - 5.0x EBITDA.
Veterinary Medicine: 702 employer businesses here. Typical sale multiple: 6.0x - 9.0x EBITDA.
Home Health & Hospice: 422 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA.
Vision & Eye Care: 363 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Medical Labs & Imaging: 170 employer businesses here. Typical sale multiple: 4.5x - 6.5x EBITDA.
Specialty Medicine: 120 employer businesses here. Typical sale multiple: 5.0x - 7.0x EBITDA.
Urgent Care Clinics: 93 employer businesses here. Typical sale multiple: 4.0x - 6.0x EBITDA.
Financial & Professional Services
8,372 related employer businesses in Wisconsin.
Insurance Agencies: 2,587 employer businesses here. Typical sale multiple: 6.0x - 8.0x EBITDA.
Real Estate Brokerages: 2,071 employer businesses here. Typical sale multiple: 2.5x - 4.5x SDE.
Accounting & Tax Practices: 1,855 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE.
Wealth Management: 1,434 employer businesses here. Typical sale multiple: 2.7x - 4.0x Recurring Revenue.
Private Lending: 381 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Mortgage Brokerages: 44 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE.
Retail Stores
6,733 related employer businesses in Wisconsin.
Fashion, Apparel & Jewelry: 1,624 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE + Inventory.
Hardware, Garden & Building: 1,516 employer businesses here. Typical sale multiple: 2.5x - 3.8x SDE + Inventory.
Health, Beauty & Pharmacy: 1,337 employer businesses here. Typical sale multiple: 2.8x - 4.2x EBITDA.
Home Decor & Furniture: 832 employer businesses here. Typical sale multiple: 2.2x - 3.2x SDE + Inventory.
Hobby, Toys & Gift Shops: 562 employer businesses here. Typical sale multiple: 1.8x - 2.8x SDE + Inventory.
Sporting Goods & Firearms: 485 employer businesses here. Typical sale multiple: 2.3x - 3.4x SDE.
Electronics & Repair: 377 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE.
Manufacturing
6,585 related employer businesses in Wisconsin.
Metal Fabrication: 1,904 employer businesses here. Typical sale multiple: 3.2x - 4.2x SDE.
Food & Beverage Manufacturing: 1,283 employer businesses here. Typical sale multiple: 3.1x - 4.5x SDE.
Printing & Plastics: 1,010 employer businesses here. Typical sale multiple: 2.9x - 4.9x SDE.
Wood & Furniture Manufacturing: 905 employer businesses here. Typical sale multiple: 2.5x - 3.8x SDE.
Medical & Chemical Manufacturing: 504 employer businesses here. Typical sale multiple: 4.5x - 8.0x EBITDA.
Construction Materials Manufacturing: 418 employer businesses here. Typical sale multiple: 2.5x - 5.0x EBITDA.
Electronics & Tech Manufacturing: 406 employer businesses here. Typical sale multiple: 4.0x - 7.5x EBITDA.
Textile & Apparel Manufacturing: 155 employer businesses here. Typical sale multiple: 2.5x - 3.8x SDE.
Automotive & Boat
5,518 related employer businesses in Wisconsin.
Auto Repair: 2,208 employer businesses here. Typical sale multiple: 2.5x - 3.2x SDE.
Auto Parts: 995 employer businesses here. Typical sale multiple: 2.5x - 3.2x SDE + Inventory.
Car Dealerships: 977 employer businesses here. Typical sale multiple: 2x - 8x Blue Sky + Assets.
Collision Repair: 704 employer businesses here. Typical sale multiple: 3.5x - 5.0x EBITDA.
Car Washes: 261 employer businesses here. Typical sale multiple: 4.5x - 7.0x EBITDA.
Boat Dealerships: 152 employer businesses here. Typical sale multiple: 3.0x - 4.5x EBITDA.
Towing & Repo: 142 employer businesses here. Typical sale multiple: 3.0x - 4.0x EBITDA + Fleet.
Marinas: 79 employer businesses here. Typical sale multiple: Cap Rate or 4.0x - 7.0x EBITDA.
Logistics & Transportation
5,405 related employer businesses in Wisconsin.
General Freight Trucking: 3,913 employer businesses here. Typical sale multiple: 2.44x - 3.45x SDE.
Warehousing & Fulfillment: 448 employer businesses here. Typical sale multiple: 3.0x - 4.5x SDE.
Heavy Haul Transport: 278 employer businesses here. Typical sale multiple: 3.5x - 4.5x SDE.
Last-Mile & Courier: 258 employer businesses here. Typical sale multiple: 2.76x - 3.32x SDE.
Freight Brokerage & 3PL: 234 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Commercial Moving: 140 employer businesses here. Typical sale multiple: 1.5x - 3.0x SDE.
NEMT & Passenger Transport: 134 employer businesses here. Typical sale multiple: 2.1x - 3.1x SDE.
Port Drayage. Typical sale multiple: 2.5x - 3.5x SDE.
Entertainment & Recreation
3,919 related employer businesses in Wisconsin.
Bars & Pubs: 2,739 employer businesses here. Typical sale multiple: 2.0x - 4.0x SDE.
Clubs & Lounges: 2,739 employer businesses here. Typical sale multiple: 3.0x - 6.0x EBITDA.
Outdoor Recreation: 547 employer businesses here. Typical sale multiple: 2.0x - 4.0x SDE.
Golf Courses: 356 employer businesses here. Typical sale multiple: 8.0x - 11.0x EBITDA.
Bowling Alleys: 204 employer businesses here. Typical sale multiple: 3.0x - 5.0x EBITDA.
Arcades & FECs: 73 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.
Wholesale & Distribution
3,281 related employer businesses in Wisconsin.
Industrial & Construction Supply: 1,678 employer businesses here. Typical sale multiple: 3.0x - 4.0x SDE.
Food & Beverage Distribution: 619 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Electronics, IT & Office Equipment Distribution: 485 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Chemicals, Plastics & Raw Materials Distribution: 218 employer businesses here. Typical sale multiple: 3.0x - 4.5x EBITDA.
Packaging, Paper & JanSan Distribution: 126 employer businesses here. Typical sale multiple: 2.5x - 3.5x SDE.
Medical, Dental & Pharmaceutical Distribution: 86 employer businesses here. Typical sale multiple: 3.5x - 4.5x EBITDA.
Consumer Goods & Apparel Distribution: 69 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE + Inventory.
Gas Stations & Convenience
2,694 related employer businesses in Wisconsin.
Gas Stations: 2,533 employer businesses here. Typical sale multiple: 3.0x - 4.5x EBITDA + Real Estate.
Convenience Stores: 161 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.
Beauty & Personal Care
2,651 related employer businesses in Wisconsin.
Hair Salons: 1,592 employer businesses here. Typical sale multiple: 1.25x - 2.34x SDE.
Nail Salons: 465 employer businesses here. Typical sale multiple: 1.4x - 1.88x SDE.
Day Spas: 461 employer businesses here. Typical sale multiple: 1.8x - 2.8x SDE.
Tattoo Shops: 461 employer businesses here. Typical sale multiple: 1.5x - 2.5x SDE.
Massage Parlors: 461 employer businesses here. Typical sale multiple: 1.5x - 2.5x SDE.
Barber Shops: 133 employer businesses here. Typical sale multiple: 1.5x - 2.25x SDE.
Medical Spas. Typical sale multiple: 2.5x - 4.5x EBITDA.
Home Services
2,490 related employer businesses in Wisconsin.
Residential Cleaning: 1,267 employer businesses here. Typical sale multiple: 1.5x - 2.6x SDE.
Commercial Cleaning: 1,267 employer businesses here. Typical sale multiple: 2.47x - 4.11x EBITDA.
Property Management: 959 employer businesses here. Typical sale multiple: 3.0x - 4.5x SDE.
Pest Control: 184 employer businesses here. Typical sale multiple: 2.34x - 2.90x SDE.
Security Systems: 80 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.
Senior Care & Living
2,245 related employer businesses in Wisconsin.
Non-Medical Home Care: 1,031 employer businesses here. Typical sale multiple: 3.0x - 5.0x SDE.
Assisted Living Facilities: 989 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA + Real Estate.
Senior Living Communities: 225 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA + Real Estate.
Adult Day Services. Typical sale multiple: 2.5x - 4.0x SDE.
Hospitality & Travel
2,048 related employer businesses in Wisconsin.
Hotels: 1,168 employer businesses here. Typical sale multiple: 2.6x - 5.1x EBITDA.
Motels: 1,168 employer businesses here. Typical sale multiple: 1.1x - 2.5x SDE.
Transportation Services: 527 employer businesses here. Typical sale multiple: 2.0x - 4.1x SDE.
Campgrounds & RV Parks: 187 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA.
Travel Agencies: 129 employer businesses here. Typical sale multiple: 2.3x - 3.2x SDE.
Bed & Breakfasts / Inns: 37 employer businesses here. Typical sale multiple: 2.0x - 4.0x SDE.
Education & Childcare
1,695 related employer businesses in Wisconsin.
Daycare Centers: 1,588 employer businesses here. Typical sale multiple: 2.39x - 3.35x SDE.
Tutoring Centers: 107 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE.
Preschools. Typical sale multiple: 3.12x - 4.0x SDE.
Technology & Media
1,593 related employer businesses in Wisconsin.
Digital Marketing Agencies: 497 employer businesses here. Typical sale multiple: 2.0x - 3.5x SDE.
Creative Agencies: 371 employer businesses here. Typical sale multiple: 1.8x - 3.0x SDE.
Media, Film & Studio Production: 265 employer businesses here. Typical sale multiple: 2.2x - 3.5x SDE.
Real Estate Media: 259 employer businesses here. Typical sale multiple: 1.5x - 2.8x SDE.
Software Companies (SaaS): 201 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
1,413 related employer businesses in Wisconsin.
Compounding Pharmacies: 652 employer businesses here. Typical sale multiple: 3.5x - 5.5x EBITDA.
Specialty Pharmacies: 652 employer businesses here. Typical sale multiple: 4.0x - 6.5x EBITDA.
Home Infusion: 422 employer businesses here. Typical sale multiple: 4.0x - 6.5x EBITDA.
Durable Medical Equipment (DME): 180 employer businesses here. Typical sale multiple: 3.0x - 5.0x EBITDA.
Medical Supply Retail: 159 employer businesses here. Typical sale multiple: 2.5x - 4.0x SDE + Inventory.
Health & Fitness
1,242 related employer businesses in Wisconsin.
Gyms & Health Clubs: 836 employer businesses here. Typical sale multiple: 2.44x - 2.93x SDE.
Yoga Studios: 836 employer businesses here. Typical sale multiple: 2.07x - 2.50x SDE.
Pilates Studios: 836 employer businesses here. Typical sale multiple: 2.10x - 3.00x SDE.
Personal Training Studios: 836 employer businesses here. Typical sale multiple: 2.00x - 2.80x SDE.
Wellness & Recovery Centers: 406 employer businesses here. Typical sale multiple: 5.5x - 9.7x EBITDA.
Energy & Utilities
951 related employer businesses in Wisconsin.
Waste Management & Recycling: 350 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA + Assets.
Propane & Fuel Distribution: 324 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA + Assets.
Water & Wastewater Services: 239 employer businesses here. Typical sale multiple: 4.0x - 7.0x EBITDA.
Oil & Gas Services: 27 employer businesses here. Typical sale multiple: 3.0x - 5.0x EBITDA + Equipment.
Solar & Renewable Energy: 11 employer businesses here. Typical sale multiple: 3.5x - 6.0x EBITDA.
Pet Services
739 related employer businesses in Wisconsin.
Pet Grooming & Spas: 546 employer businesses here. Typical sale multiple: 2.0x - 3.0x SDE.
Boarding, Daycare & Training: 546 employer businesses here. Typical sale multiple: 3.0x - 4.5x EBITDA.
Pet Retail & Specialty Supplies: 193 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
3 related employer businesses in Wisconsin.
Agricultural Labor Contracting: 3 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 Wisconsin
Business Advisors of America works with owners who are selling a business in Wisconsin. Contact us to talk about a sale.
FREQUENTLY ASKED QUESTIONS
Questions owners in Wisconsin ask
How long does it take to sell a business in Wisconsin?
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 Wisconsin?
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 Wisconsin
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