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Buying a business: Minnesota vs Wisconsin

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

Minnesota

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

Wisconsin

398 active listings
Active listings398
Median asking$562,500
Median cash flow$200,935 Edge
Typical multiple2.8×
Owner-earnings yield~36%
Median revenue$760,601

Who wins?

Minnesota has 114% more businesses on the market than Wisconsin (851 vs 398). Minnesota is cheaper at the median asking price. Both markets price at about the same 2.9× cash-flow multiple, so you pay a similar earnings premium either way — the difference is selection and entry price, not valuation.

MetricMinnesotaWisconsin
Active listings851398
Median asking$500,000$562,500
Median cash flow$174,000$200,935
Typical multiple2.9×2.8×
Owner-earnings yield~35%~36%
Median revenue$819,507$760,601
Related comparisons

See the full Minnesota market or the Wisconsin market, or set a Buy Box across both and let the matches come to you.

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