Charlotte, N.C., Nov. 4, 2014 (GLOBE NEWSWIRE) -- If data trends continue, the next several months could be optimal for business owners looking to sell for the best price.
Even though lending has been more restrictive the last few months, some states are experiencing significant increases in average sale price of small businesses, including Alabama, California, Delaware, New Mexico, Michigan and Indiana.
Inquiries into businesses for sale have been trending upward for the past six months, with interest spiking the most in auto repair shops, convenience stores, gas stations, restaurants and retailers, according to BusinessesForSale.com data.
This aligns with a recent study by The National Employment Law Project, which found strongest growth in restaurants and retail trades--businesses that typically pay the federal minimum wage.
BusinessesForSale.com reports that inquiries into its business listings so far this year are substantially higher than 2013--with third quarter 2014 inquiries 350 percent higher than third quarter 2013.
BusinessesForSale.com Executive Consultant Nick Pili said this data should be consistent with many of the U.S. economic reports being released this week.
"As the housing market steadily improves, unemployment remains low and the stock market hits record highs, people are more apt to consider making a move into business ownership," Pili said.
He also said that the data trends are not surprising because the company's recent survey reflected an increase in overall business optimism.
More than 70 percent of 1,053 survey respondents expressed optimism about the economy. Conducted in July and August, the survey also showed that nearly 50 percent of business buyers are in Generation X (born 1965-1980), with many having the financial means to invest in a business without borrowing.
BusinessesForSale.com is a global online marketplace for buying and selling small businesses, with nearly 60,000 business listings and 300,000 registered buyers. The company's U.S. helm is in Charlotte, N.C. For more information, visit www.businessesforsale.com.
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