APRIL 29, 2015 LAST UPDATED: WEDNESDAY, APRIL 29, 2015, 1:21 AM
BY MELANIE ANZIDEI
STAFF WRITER |
THE RECORD
* More firms are for sale, but asking price is less than in 2014
More New Jersey small businesses may be on the market compared with last year, but asking prices for those businesses have declined.
A total of 1,867 small businesses in New Jersey were listed for sale during the first quarter, up from 1,801 in the same period last year, according to a quarterly report by online marketplace BizBuySell. The median asking price for the businesses, however, dropped to $265,000 this year from $269,000 in 2014, as median revenue for the companies rose to $445,778 from $420,000.
Though asking prices have fallen, business owners shouldn’t worry, according to Bob House, group general manager of BizBuySell.com.
“The decrease was only slight and shouldn’t be considered alarming,” House said in an email Tuesday. “It’s still good to see that the median revenue and cash flow of New Jersey small businesses increased slightly. These numbers indicate improving small business financial health.”
https://www.northjersey.com/news/business/market-for-n-j-small-businesses-on-rise-1.1321197
Even some larger businesses are packing it in — The famous Herold Farms in Glen Rock has been sold to the Great Bottle King liquors store, just across the street.
Suggest you make a visit there and see what might be available for sale.