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Buying a business: South Dakota vs Texas

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

South Dakota

87 active listings
Active listings87
Median asking$500,000
Median cash flow$143,297
Typical multiple3.5×
Owner-earnings yield~29%
Median revenue$718,167
VS

Texas

3,900 active listings
Active listings3,900 Edge
Median asking$340,000 Edge
Median cash flow$160,000 Edge
Typical multiple2.1×
Owner-earnings yield~47%
Median revenue$690,019

Who wins?

Texas has 4383% more businesses on the market than South Dakota (3,900 vs 87). Texas is cheaper at the median asking price. Texas trades at a lower multiple (2.1× vs 3.5×), meaning you pay less per dollar of cash flow there.

MetricSouth DakotaTexas
Active listings873,900
Median asking$500,000$340,000
Median cash flow$143,297$160,000
Typical multiple3.5×2.1×
Owner-earnings yield~29%~47%
Median revenue$718,167$690,019
Related comparisons

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