Sales of small firms in the Washington area soared in the third quarter of this year, according to third-quarter data from Bizbuysell.com, an online marketplace for small business acquisitions.
The San Francisco-based company only tracks transactions disclosed by brokers, who reported 46 local deals for the three months ending September, up 41 percent from the prior year. National sales, meanwhile, rose 3.5 percent in the third quarter. The majority of the businesses that have traded hands are restaurants and retail operations, such as delicatessens, liquor stores and dry cleaners.
Mike Handelsman, group general manager at Bizbuysell.com, attributes much of the recent activity in the market to a new willingness by owners to put their businesses on the market. Many sellers, he said, had been reluctant to put their businesses on the market for fear lackluster revenue and cash flow would bring poor offers. The number of local businesses listed for sale on Bizbuysell.com, however, grew roughly 14 percent to 819 in the third quarter.