The number of small business sold in the greater Los Angeles area was up 32.3 percent in the second quarter from the same period last year, according to data released Monday from business broker BizBuySell.
A total of 209 small businesses such as restaurants and gas stations traded hands between April and June compared to 158 a year ago, according to the report. The numbers also represent a 23.7 percent jump in sales volume from the first quarter of this year, which saw 169 L.A.-area businesses sold.
The increase in deals is somewhat tempered by other indicators reported to BizBuySell. The region’s small businesses looking to be sold had flat year-to-year median revenue and cash-flow figures of $400,000 and $100,000, respectively.
This lack of growth may have contributed to the median asking price dipping by 3.8 percent to $216,000 compared to the same time last year.
Deals & Dealmakers reporter Henry Meier can be reached at firstname.lastname@example.org. Follow him on Twitter @henry_meier.