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Buying a business: California vs South Carolina

Two markets side by side — inventory, pricing, and what you actually pay per dollar of cash flow, from live Waterfall data.

California

6,340 active listings
Active listings6,340 Edge
Median asking$345,000
Median cash flow$178,627 Edge
Typical multiple1.9×
Owner-earnings yield~52%
Median revenue$750,000
VS

South Carolina

782 active listings
Active listings782
Median asking$299,000 Edge
Median cash flow$158,362
Typical multiple1.9×
Owner-earnings yield~53%
Median revenue$698,500

Who wins?

California has 711% more businesses on the market than South Carolina (6,340 vs 782). South Carolina is cheaper at the median asking price. Both markets price at about the same 1.9× cash-flow multiple, so you pay a similar earnings premium either way — the difference is selection and entry price, not valuation.

MetricCaliforniaSouth Carolina
Active listings6,340782
Median asking$345,000$299,000
Median cash flow$178,627$158,362
Typical multiple1.9×1.9×
Owner-earnings yield~52%~53%
Median revenue$750,000$698,500
Related comparisons

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