Written by The Business Journal Staff
Fresno’s market for businesses up for sale experienced higher growth and value in its third quarter this year compared to the same period a year earlier, according to a report by BizBuySell.com.
The website monitors, tracks and reports on business sale transactions.
Across the nation, the website reported 2,589 closed transactions over the quarter, an increase of 499 — 24 percent — over the third quarter of 2016.
In Fresno, sales did much better, with BizBuySell reporting a total of 43 businesses changing hands in the third quarter of this year, a 79 percent increase over the previous year.
Not only did more businesses put themselves up for sale, but the median asking price increased by nearly 45 percent, according to the website, which didn’t include business sales not posted on it.
During the months of July, August and September, 10 Fresno businesses valued at more than $1 million sold, making up the largest percentage of the businesses listed.
The next highest number was for eight businesses valued between $100,000 and $200,000, followed by seven businesses that sold between $500,000 and $1 million.
The median asking price for all Fresno businesses listed on the website to have sold over those months was $328,900.
In comparison, 2,433 Los Angeles businesses listed on the site sold for a median asking price of $245,000, while in San Francisco, 496 sold for a median asking price of $250,000.
BizBuySell.com notes in its press release that while retail businesses are struggling against eCommerce businesses, the number of retail businesses for sale jumped 23 percent nationally over the third quarter, indicating that buyers still consider retail space a good investment, as they generally are purchasing those business spaces at premium prices.
The press release also reports that businesses across the nation sold faster, from an average 171 days in the third quarter of 2016 down to 146 days in this year’s third quarter.