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Buying a business: Florida vs Minnesota

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

Florida

5,952 active listings
Active listings5,952 Edge
Median asking$350,000 Edge
Median cash flow$157,752
Typical multiple2.2×
Owner-earnings yield~45%
Median revenue$650,000
VS

Minnesota

851 active listings
Active listings851
Median asking$500,000
Median cash flow$174,000 Edge
Typical multiple2.9×
Owner-earnings yield~35%
Median revenue$819,507

Who wins?

Florida has 599% more businesses on the market than Minnesota (5,952 vs 851). Florida is cheaper at the median asking price. Florida trades at a lower multiple (2.2× vs 2.9×), meaning you pay less per dollar of cash flow there.

MetricFloridaMinnesota
Active listings5,952851
Median asking$350,000$500,000
Median cash flow$157,752$174,000
Typical multiple2.2×2.9×
Owner-earnings yield~45%~35%
Median revenue$650,000$819,507
Related comparisons

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