After several years of volatility, the U.S. business-for-sale market entered a period of stabilization in 2025. According to BizBuySell’s latest Insight Report, transaction volume held relatively flat while overall valuations edged upward — a signal that confidence is returning, even amid economic uncertainty.
Total enterprise value reached $7.95 billion, up 3% year-over-year, while the median sale price increased 2% to $350,000. Median revenue and cash flow also rose modestly, reinforcing a key theme of the current market: strong businesses continue to command strong outcomes.
Quarterly Swings, Steady Fundamentals
Transaction activity fluctuated throughout the year:
- Q1–Q2: Deals slowed amid inflation concerns
- Q3: Transactions surged as sellers moved before valuations softened
- Q4: A government shutdown temporarily stalled SBA lending, pushing some closings into 2026
Despite these disruptions, underlying business performance remained stable. Buyers stayed active — but more selective.
A Market Split Between Prepared and Unprepared
Rising labor, rent, and supply costs created a divide. Businesses able to pass along costs or operate efficiently maintained solid margins and valuations. Others struggled.
That divide explains why broker sentiment is evenly split:
- 34% say it’s a buyer’s market
- 34% say it’s a seller’s market
- 27% view conditions as balanced
Key Takeaway
There is no “perfect” market — only prepared buyers and prepared sellers. As we move into 2026, opportunity favors those who understand the landscape and act decisively.