After reviewing quarter one it appears that some things have remained the same while there are changes happening.
What has held true consistently is that restaurants, bars and similar types of businesses have dominated the market sales but there are a couple of segments where business sales are surging.
Restaurants, bars and similar types of businesses have actually increased year to date taking 30.9% of the business sales compared to 28.6% the prior year. This segment always has been popular as many buyers from other states and countries have particularly always wanted to have a bar or restaurant and what better place than sunny Florida.
Another perennial heavy hitter, salon based industries, has fallen from 5.6% down to 3.9% of all business sales year to date.
The real estate related industries (brokerages, property management…) that took 5.1% last year has fallen to 2.4%. The real estate counterpart, construction, has actually doubled from 2.9% last year to 5.8% of all sales so far this year. This seems to be in direct correlation with our economy and the construction industry picking up again. Don’t be surprised to see ancillary businesses increasing if this trend continues.
Although not the largest increase it is a great sign and it appears it will continue to increase. Distribution businesses have increased from 2.4% of all sales last year to 3.9% this year. On top of that there are a greater number of distribution based businesses on the market than in prior years. The reasons can vary, baby boomers are starting to retire, valuations are increasing and sellers are getting the value they wanted, but with over 60% of the businesses on the market have been established for 10 years or more, these are the types of businesses that buyers are looking for.
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