The 2026 Utah Business Sale Report: What Utah Businesses Are Really Worth

Utah was just named the number one state in America for the fourth consecutive year. Small businesses make up 99.4 percent of Utah companies. And yet, until now, no one has published a report on what actually happens when those businesses change hands. Today we are releasing the first annual Utah Business Sale Report, a free, data-driven look at what Utah businesses sell for, how long sales really take, and what buyers expect in 2026.

The headline numbers

Across completed U.S. transactions in Q2 2026, the average business sold for 2.7 times its Seller's Discretionary Earnings, at a median sale price of about $349,000. Service businesses that sold spent a median of 155 days on market. Meanwhile 78 percent of buyers expect SBA financing, 90 percent expect the seller to carry some financing, and only 29 percent of sellers plan to offer it. That financing gap is the defining friction of this year's market, and the sellers who bridge it are the ones closing.

Why Utah owners are in a stronger position

National deal volume fell 10 percent year over year, but multiples held firm. Buyers have not disappeared; they have become selective. Utah owners hold a structural advantage here: sustained in-migration of experienced professionals feeds exactly the buyer profile now dominating the market, since 46 percent of today's buyers are corporate professionals seeking independence. Along the Wasatch Front, from Salt Lake County through Utah County, well-prepared companies consistently price toward the top of their industry's multiple range.

The 14 percent problem

The most important finding in the report is also the simplest. About half of owners say they have an exit plan, but only 14 percent have ever had a professional valuation. That gap is where retirements come up short. Owners discover at listing time that the number in their head and the number the market will pay are six figures apart, with no runway left to fix it. A valuation one to two years before you sell converts that surprise into a to-do list, and most of what moves a multiple is fixable in 12 to 24 months.

What Utah businesses actually sell for

The national average is 2.7x SDE. Here is what that looks like on real Utah and Mountain West businesses, calculated from current Zion Business Brokers listings using published revenue and seller's discretionary earnings.

Roofing, siding and window company with a dumpster fleet: $2,428,702 revenue, $499,511 SDE, priced at $1,686,500. That is 3.38x.

Exterior cleaning and pressure washing company: $593,367 revenue, $259,322 SDE, priced at $790,000. That is 3.05x.

Auto care business including real estate: $3,434,000 revenue, $650,000 SDE, priced at $1,835,000. That is 2.82x, though the real estate distorts the comparison.

Residential HVAC service and replacement: $768,381 revenue, $311,180 SDE, priced at $875,000. That is 2.81x.

Window cleaning business: $62,952 revenue, $40,474 SDE, priced at $87,000. That is 2.15x.

Larger transactions price on EBITDA rather than SDE. A retro gaming e-commerce and consumer brand with $14,460,000 revenue and $2,300,000 adjusted EBITDA is priced at $9,999,999, or 4.35x.

Why the spread runs from 2.15x to 3.38x

The businesses at the top of that range share three things: recurring or contracted revenue, a crew that stays after closing, and books a lender can underwrite without a fight.

The business at the bottom is owner-dependent with under $50,000 in SDE. When the owner is the business, the buyer pool narrows to individuals paying cash, and cash buyers pay less.

Above roughly $1 million in adjusted earnings, pricing shifts from SDE to EBITDA and multiples move into the 4x range, because private equity and search funds enter the bidding.

These are asking multiples from current listings, not closed transaction multiples. They reflect Zion Business Brokers listings rather than a survey of the entire Utah market. Figures current as of Q3 2026.

Get the full report

The complete 2026 Utah Business Sale Report includes multiples by industry, the five-phase sale timeline, and the financing trends shaping this year's deals. To get a free copy, call 385-985-7216 or email cameron@zionbusinessbrokers.com with the word REPORT. And if you want to know what your own business is worth, request a free, confidential valuation consultation at www.zionbusinessbrokers.com/free-business-valuation. For certified valuations for SBA loans, partner buyouts, or legal purposes, ask about our formal valuation services.

What Utah businesses sell for by industry: HVAC, plumbing, and electrical · roofing · landscaping · window cleaning · medical billing · retail stores

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For the current edition of this data, with methodology and citation terms, see the Utah Business Sale Index, 2026 Mid-Year Edition.