If you’ve spent any time on the national business-for-sale portals lately, you’ve probably seen the standard “rules of thumb.” You know the ones: “Restaurants sell for 2x SDE,” or “HVAC businesses trade at 3x.”
But here’s the reality I see every day on the ground: Tampa isn’t a “national average” market. With 170 people moving to Florida every single day and the Tampa Bay area consistently ranking as a top destination for corporate relocation and startup growth, applying a generic national multiple to your business is a recipe for leaving money on the table.
The “Tampa Premium”: Why Local Matters
When we value a business, we aren’t just looking at your tax returns from three years ago. We are looking at the velocity of the local economy. National averages include “rust belt” cities with stagnant populations and states with high income taxes.
In Tampa, we have:
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Zero State Income Tax: This attracts “refugee capital” from the Northeast and Midwest. Buyers are willing to pay a higher multiple because their after-tax yield is significantly better here.
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Explosive Infrastructure Growth: Whether it’s the expansion of the Westshore District or the booming medical corridor in Lake Nona/Orlando, the physical growth of our region creates a “growth floor” that national data doesn’t account for.
Sector Spotlight: HVAC & Restaurants
Take HVAC. Nationally, a residential service company might trade between 2.5x and 3.2x SDE. In Tampa? Because our “cooling season” is essentially 10 months long and our population is surging, those same businesses often command 3.5x to 4.5x multiples.
Similarly, with Restaurants, Tampa has transitioned from a seasonal tourist town to a year-round culinary powerhouse. A well-run establishment in St. Pete or Tampa often sees a 0.5x to 1.0x multiple premium over a similar eatery in a non-growth state.
The Secret Weapon: The BBF MLS Exchange
How do I know these multiples are higher? It’s not “fortune cookie wisdom”—it’s hard data.
As a member of the Business Brokers of Florida (BBF), I have access to the Florida Business MLS Exchange. This is a one-of-a-kind database that national brokers simply don’t have.
While the public sees “asking prices” on websites, the BBF MLS shows me:
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Actual Sold Prices: What did the HVAC company in Brandon really close for last month?
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Local Comps: Precise data from Hillsborough, Pinellas, and Pasco counties.
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Internal Multiples: Real-time trends showing exactly how much extra buyers are paying for Florida-based recurring revenue.
Without this data, you’re just guessing. And in a high-stakes exit, guessing is expensive.
Stop Swinging Blind
In the movie Moneyball, Billy Beane realized that the old scouts were looking at the wrong metrics. They were looking at “the look” of a player instead of the stats that actually win games.
Selling your business is your “Moneyball” moment. You’ve worked too hard to build your legacy to let a “national average” dictate your retirement. You need a valuation that reflects the reality of the Tampa Bay market.
Are you ready to see what your business is actually worth in today’s Florida market? Contact me today for a confidential, no-nonsense valuation. Let’s bridge that value gap and get you the exit you’ve earned.
Mastering the Art of Pricing for a Tampa Business Sale
This video features Michael Shea explaining the importance of proper pricing and local market expertise when preparing to sell a business in the Florida market.
Michael Shea represents the Tampa Florida Transworld office. In business since 2005, he has established a reputation as a trusted business broker across Florida’s key markets- from Tampa to Orlando, Melbourne, and more. Over the past two decades, Michael and his team have closed over $1 Billion in sold business volume and presided over more than 450 transactions. His credentials include the IBBA Certified Business Intermediary®, and most recently, the prestigious Certified Exit Planning Advisor® (CEPA) credential.