Where the Businesses Are
Pick an Industry
Businesses with five to ninety-nine employees: big enough to have something to sell, small enough to finance. By state to compare markets, and by county because nobody searches Arizona; they search Phoenix, and Los Angeles County alone holds more plumbing and HVAC companies than most states do.
202,326 businesses with 5 to 99 employees across the country. What they trade for.
| California | 26,359 | 13.0% | 34,527 |
| Texas | 19,913 | 9.8% | 24,360 |
| Florida | 11,904 | 5.9% | 15,969 |
| New York | 9,477 | 4.7% | 17,791 |
| Ohio | 8,319 | 4.1% | 10,404 |
| Illinois | 7,628 | 3.8% | 10,622 |
| Georgia | 7,288 | 3.6% | 9,735 |
| North Carolina | 6,850 | 3.4% | 8,502 |
| Pennsylvania | 6,171 | 3.1% | 9,802 |
| Michigan | 6,122 | 3.0% | 7,923 |
| Virginia | 5,418 | 2.7% | 7,145 |
| Arizona | 4,765 | 2.4% | 5,713 |
| Tennessee | 4,718 | 2.3% | 5,735 |
| Indiana | 4,350 | 2.1% | 5,396 |
| New Jersey | 4,218 | 2.1% | 7,670 |
| Washington | 3,923 | 1.9% | 5,168 |
| Colorado | 3,888 | 1.9% | 4,753 |
| Missouri | 3,870 | 1.9% | 4,814 |
| Maryland | 3,701 | 1.8% | 5,487 |
| Massachusetts | 3,530 | 1.7% | 5,337 |
| Alabama | 3,513 | 1.7% | 4,442 |
| South Carolina | 3,354 | 1.7% | 4,227 |
| Wisconsin | 3,164 | 1.6% | 3,925 |
| Minnesota | 3,037 | 1.5% | 3,848 |
| Kentucky | 2,948 | 1.5% | 3,499 |
| Louisiana | 2,897 | 1.4% | 3,759 |
| Oregon | 2,631 | 1.3% | 3,396 |
| Oklahoma | 2,563 | 1.3% | 3,024 |
| Nevada | 2,414 | 1.2% | 2,989 |
| Utah | 2,323 | 1.1% | 2,801 |
| Mississippi | 2,056 | 1.0% | 2,498 |
| Arkansas | 1,972 | 1.0% | 2,382 |
| Kansas | 1,872 | 0.9% | 2,231 |
| Connecticut | 1,815 | 0.9% | 2,883 |
| Iowa | 1,743 | 0.9% | 2,095 |
| New Mexico | 1,388 | 0.7% | 1,651 |
| Nebraska | 1,285 | 0.6% | 1,517 |
| Idaho | 1,181 | 0.6% | 1,398 |
| West Virginia | 1,075 | 0.5% | 1,292 |
| Hawaii | 1,018 | 0.5% | 1,414 |
| New Hampshire | 750 | 0.4% | 1,074 |
| Maine | 653 | 0.3% | 1,016 |
| Montana | 630 | 0.3% | 806 |
| Rhode Island | 604 | 0.3% | 915 |
| Washington, D.C. | 588 | 0.3% | 851 |
| Delaware | 556 | 0.3% | 846 |
| South Dakota | 497 | 0.2% | 623 |
| North Dakota | 422 | 0.2% | 510 |
| Wyoming | 346 | 0.2% | 398 |
| Alaska | 325 | 0.2% | 490 |
| Vermont | 294 | 0.1% | 435 |
The Map of the Buyable Market
What Actually Changes Hands
Counting targets is half the answer; the other half is whether deals actually happen there. These are SBA acquisition loans by state, sortable both ways: what sells in each state, and where each industry's deals concentrate. Loans, not listings: cash and conventionally financed deals are absent, so read the ordering rather than the level.
| California | 3788 | $640k | Full-Service Restaurants | Beer, Wine, and Liquor Retailers | Limited-Service Restaurants |
| Texas | 2815 | $890k | Gasoline Stations with Convenience Stores | Full-Service Restaurants | Hotels (except Casino Hotels) and Motels |
| Florida | 2629 | $769k | Full-Service Restaurants | All Other Specialty Trade Contractors | Child Care Services |
| Washington | 1432 | $727k | Gasoline Stations with Convenience Stores | Limited-Service Restaurants | Full-Service Restaurants |
| Colorado | 1401 | $654k | Beer, Wine, and Liquor Retailers | Full-Service Restaurants | Hotels (except Casino Hotels) and Motels |
| Minnesota | 1382 | $475k | Offices of Chiropractors | Full-Service Restaurants | Limited-Service Restaurants |
| Illinois | 1321 | $692k | Full-Service Restaurants | Hotels (except Casino Hotels) and Motels | Gasoline Stations with Convenience Stores |
| Georgia | 1310 | $920k | Hotels (except Casino Hotels) and Motels | Full-Service Restaurants | Beer, Wine, and Liquor Retailers |
| Ohio | 1290 | $597k | Hotels (except Casino Hotels) and Motels | Limited-Service Restaurants | Full-Service Restaurants |
| Pennsylvania | 1270 | $519k | Full-Service Restaurants | Limited-Service Restaurants | Beer, Wine, and Liquor Retailers |
| Michigan | 1177 | $635k | Beer, Wine, and Liquor Retailers | Limited-Service Restaurants | Full-Service Restaurants |
| North Carolina | 1172 | $839k | Hotels (except Casino Hotels) and Motels | Limited-Service Restaurants | Full-Service Restaurants |
| Wisconsin | 1113 | $572k | Full-Service Restaurants | Limited-Service Restaurants | Gasoline Stations with Convenience Stores |
| New York | 1092 | $597k | Beer, Wine, and Liquor Retailers | Limited-Service Restaurants | Full-Service Restaurants |
| Indiana | 841 | $510k | Hotels (except Casino Hotels) and Motels | Limited-Service Restaurants | Full-Service Restaurants |
| New Jersey | 840 | $724k | Beer, Wine, and Liquor Retailers | Full-Service Restaurants | Limited-Service Restaurants |
| Missouri | 824 | $578k | Full-Service Restaurants | Hotels (except Casino Hotels) and Motels | Limited-Service Restaurants |
| Arizona | 824 | $822k | Full-Service Restaurants | General Automotive Repair | Limited-Service Restaurants |
| Massachusetts | 708 | $431k | Full-Service Restaurants | Beer, Wine, and Liquor Retailers | Limited-Service Restaurants |
| Virginia | 636 | $773k | Hotels (except Casino Hotels) and Motels | Limited-Service Restaurants | Full-Service Restaurants |
| Utah | 523 | $650k | Landscaping Services | Full-Service Restaurants | All Other Specialty Trade Contractors |
| South Carolina | 508 | $750k | Hotels (except Casino Hotels) and Motels | General Automotive Repair | Full-Service Restaurants |
| Oregon | 483 | $680k | Limited-Service Restaurants | Gasoline Stations with Convenience Stores | Hotels (except Casino Hotels) and Motels |
| Maryland | 468 | $693k | Beer, Wine, and Liquor Retailers | Limited-Service Restaurants | General Automotive Repair |
| Tennessee | 430 | $798k | Hotels (except Casino Hotels) and Motels | Limited-Service Restaurants | Full-Service Restaurants |
| Kansas | 392 | $554k | Hotels (except Casino Hotels) and Motels | Full-Service Restaurants | Landscaping Services |
| Alabama | 383 | $816k | Hotels (except Casino Hotels) and Motels | Broilers and Other Meat Type Chicken Production | Insurance Agencies and Brokerages |
| Oklahoma | 370 | $742k | Gasoline Stations with Convenience Stores | Hotels (except Casino Hotels) and Motels | Insurance Agencies and Brokerages |
| Kentucky | 342 | $500k | Hotels (except Casino Hotels) and Motels | Limited-Service Restaurants | Full-Service Restaurants |
| Iowa | 337 | $338k | Full-Service Restaurants | Hotels (except Casino Hotels) and Motels | Limited-Service Restaurants |
| Idaho | 334 | $552k | Full-Service Restaurants | General Automotive Repair | Limited-Service Restaurants |
| Louisiana | 321 | $813k | Pharmacies and Drug Retailers | Hotels (except Casino Hotels) and Motels | Full-Service Restaurants |
| Nevada | 294 | $725k | Limited-Service Restaurants | General Automotive Repair | Insurance Agencies and Brokerages |
| Connecticut | 293 | $725k | Beer, Wine, and Liquor Retailers | Full-Service Restaurants | Private Mail Centers |
| Mississippi | 270 | $644k | Broilers and Other Meat Type Chicken Production | Hotels (except Casino Hotels) and Motels | Insurance Agencies and Brokerages |
| Arkansas | 243 | $786k | Broilers and Other Meat Type Chicken Production | Hotels (except Casino Hotels) and Motels | Full-Service Restaurants |
| Nebraska | 243 | $375k | Full-Service Restaurants | All Other Specialty Trade Contractors | Limited-Service Restaurants |
| New Hampshire | 241 | $372k | Full-Service Restaurants | Limited-Service Restaurants | General Automotive Repair |
| Montana | 221 | $475k | Hotels (except Casino Hotels) and Motels | Gasoline Stations with Convenience Stores | Limited-Service Restaurants |
| New Mexico | 176 | $974k | Hotels (except Casino Hotels) and Motels | Full-Service Restaurants | Engineering Services |
| Maine | 159 | $250k | Full-Service Restaurants | Supermarkets and Other Grocery Retailers (except Convenience Retailers) | All Other Specialty Trade Contractors |
| South Dakota | 131 | $500k | Limited-Service Restaurants | General Automotive Repair | Full-Service Restaurants |
| Rhode Island | 106 | $500k | Beer, Wine, and Liquor Retailers | Full-Service Restaurants | Child Care Services |
| Delaware | 90 | $472k | Automotive Parts and Accessories Retailers | Beer, Wine, and Liquor Retailers | Child Care Services |
| North Dakota | 87 | $687k | Hotels (except Casino Hotels) and Motels | Couriers and Express Delivery Services | Gasoline Stations with Convenience Stores |
| West Virginia | 87 | $832k | Hotels (except Casino Hotels) and Motels | Full-Service Restaurants | Funeral Homes and Funeral Services |
| Wyoming | 80 | $722k | Hotels (except Casino Hotels) and Motels | Offices of Certified Public Accountants | Plumbing, Heating, and Air-Conditioning Contractors |
| Vermont | 70 | $269k | Limited-Service Restaurants | Offices of Chiropractors | Funeral Homes and Funeral Services |
| Washington, D.C. | 70 | $575k | Beer, Wine, and Liquor Retailers | Limited-Service Restaurants | Full-Service Restaurants |
| Alaska | 65 | $699k | Full-Service Restaurants | Limited-Service Restaurants | Offices of Dentists |
| Hawaii | 45 | $545k | Full-Service Restaurants | Limited-Service Restaurants | Beer, Wine, and Liquor Retailers |
| Puerto Rico | 42 | $193k | Pharmacies and Drug Retailers | Full-Service Restaurants | Supermarkets and Other Grocery Retailers (except Convenience Retailers) |
| U.S. Virgin Islands | 0 | $0.00 | Offices of Dentists | Full-Service Restaurants | Fitness and Recreational Sports Centers |
FY2020 through FY2025, from the SBA's loan-level FOIA data.
Why Counts and Not Feelings
A market with three times the targets is a market where three times as many owners will retire, get sick, get bored, or get an offer. It does not make the deals better and it does not make them cheaper. It makes them EXIST, which is the constraint that ends most searches: not a bad deal taken, but no deal found.
Within a trade, the count misses nothing. Unlike the loan figures here, which keep only each state's busiest industries, Census counts every establishment in every state, so a thin number here is a thin market rather than a gap in the data. Across trades it is a selection: 36 industries are mapped, chosen because a searcher can finance and run them, and a trade with a buying guide and no tile here is one nobody has pulled the county file for yet. What no count can tell you is how many are for sale, because nobody counts that.
Method & Source
Census County Business Patterns (2023). How often each industry changes hands is in Market Depth, and the states with the most buyable targets, ranked and broken down by county, are in the Best States to Buy a Business.