San Antonio TX

BizBuySell Local Quarterly Insight Report

San Antonio, TX

Q3 2011



DATA SET 1: BizBuySell Active Listings - Business for Sale Data



Median Asking Avg. Multiple of Avg. Multiple of

Business Type N Sale Price Median Revenue Revenue Median Cash Flow Cash Flow Summary - San Antonio, TX, Q3 2011

Retail - Restaurant 25 $ 219,000 $ 647,122 0.61 $ 78,953 3.60 The median asking price for businesses for sale in this market on BizBuySell was $262,500.

Retail - Other 38 $ 212,500 $ 429,250 0.51 $ 77,500 2.30 These businesses had a median revenue of $440,697 and a median cash flow of $107,500.

Service 76 $ 260,000 $ 329,666 0.92 $ 107,000 2.77 Owners asked for, on average, a revenue multiple of 0.82 and a cash flow multiple of 3.06.

Manufacturing 11 $ 1,400,000 $ 1,812,364 1.35 $ 360,933 5.08

Other 14 $ 1,060,000 $ 1,151,500 1.01 $ 240,220 4.18

Total 164 $ 262,500 $ 440,698 0.82 $ 107,500 3.06 BizBuySell analyzed 11 closed transactions in this market in Q3 2011. Businesses sold for a

median sale price of $110,000. On average, this is 0.93 of the ask price. These businesses

Breakdown of Active Listings by Asking Price had a median revenue of $193,997 and a median cash flow of $107,000. Business buyers

Price Number % of Total paid on average 0.80 times revenue and 2.07 times cash flow.

$0 - $50,000 5 3%

$50,001 - $100,000 28 17%

$100,001 - $200,000 32 20%

$200,001 - $300,000 29 18%

$300,001 - $500,000 23 14%

$500,001 - $1,000,000 19 12%

$1,000,001+ 28 17%

-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

DATA SET 2: Recently Closed Transactions Examples*

Business Total Closed Revenue Cash Flow

Business Type Subtype County Ad Headline Transactions Sale Price Asking Price Sale/Ask Ratio Revenue Multiple Cash Flow Multiple

Summary data for all closed transactions 11 $ 110,000 $ 110,000 0.93 $ 193,997 0.80 $ 107,000 2.07



Retail - Restaurant Restaurants Bexar Mexican Restaurant Seller wants to retire $ 42,000 $ 53,000 0.79 $ 120,000 0.35 $ 30,000 1.40

Service Miscellaneous Services Bexar San Antonio Pool Service Route for Sale $ 110,000 $ 110,000 1.00 $ 150,000 0.73 $ 140,000 0.79

Manufacturing Chemicals & Allied Products Bexar Eagle Ford Shale-Hi- Growth Platform-Oilfield Specialty Chemicals $ 3,500,000 $ 4,000,000 0.88 $ 2,400,000 1.46 $ 650,000 5.38

Service Other Personal Services Bexar CGH250 - Maid Service $ 95,000 $ 95,000 1.00 $ 193,997 0.49 $ 67,312 1.41

Service Other Personal Services Bexar San Antonio Pool Service Route for Sale $ 59,587 $ 59,587 1.00 $ 80,587 0.74 $ 75,000 0.79

Service Other Personal Services Wilson Gillett Pool Service Route for Sale! $ 90,200 $ 90,200 1.00 $ 123,400 0.73 $ 107,000 0.84

Service Agents & Brokers Bexar Allstate Insurance Agency, North Central San Antonio $ 600,000 $ 650,000 0.92 $ 260,000 2.31 $ 162,000 3.70

Service Auto Repair, Parts & Services Bexar Absentee 2 Growing Profitable High End Collision Centers!! $ 1,700,000 $ 1,800,000 0.94 $ 7,000,000 0.24 $ 600,000 2.83

Service Other Personal Services Guadalupe Central Texas Fitnes Center Operation for Sale $ 325,000 $ 325,000 1.00 $ 342,156 0.95 $ 95,000 3.42

Service Landscaping & Yard Services Bexar San Antonio Pool Route $ 90,000 $ 90,000 1.00 $ 155,000 0.58 $ 95,000 0.95





*Closed transactions are self-reported to BizBuySell by the representing brokers. Not all closed transactions are reported to BizBuySell and BizBuySell does not collect data from for-sale-by-owner transactions. Some transactions are excluded from example transactions due to confidentiality.





Counties included: Atascosa, Bandera, Bexar, Comal, Guadalupe, Kendall, Medina, Wilson



BizBuySell is the Internet's largest business for sale marketplace. Since 1995, BizBuySell has offered tools that make it easy for business owners and brokers to sell a business, and potential buyers to find the business of their dreams. BizBuySell lists over

45,000 businesses - spanning 80 countries - for sale at any time. The site also features an extensive franchise directory as well as a business valuation tool. Please visit www.bizbuysell.com.

BizBuySell Local Quarterly Insight Report

San Antonio, TX

Q2 2011



BizBuySell Active Listings - Business for Sale Data



Median Asking Avg. Multiple of Avg. Multiple of

Business Type N Sale Price Median Revenue Revenue Median Cash Flow Cash Flow Summary - San Antonio, TX, Q2 2011

Retail - Restaurant 25 $ 199,000 $ 626,000 0.46 $ 80,000 3.57 The median asking price for businesses for sale in this market on BizBuySell was $250,000.

Retail - Other 40 $ 195,000 $ 401,000 0.58 $ 73,915 2.66 These businesses had a median revenue of $402,000 and a median cash flow of $100,000.

Service 64 $ 199,500 $ 256,232 0.98 $ 94,500 2.99 Owners asked for, on average, a revenue multiple of 0.86 and a cash flow multiple of 3.30.

Manufacturing 11 $ 1,500,000 $ 1,812,364 1.54 $ 360,933 5.68

Other 17 $ 925,000 $ 903,000 1.27 $ 291,118 4.09

Total 157 $ 250,000 $ 402,000 0.86 $ 100,000 3.30 BizBuySell analyzed 17 closed transactions in this market in Q2 2011. Businesses sold for a

median sale price of $125,000. On average, this is 0.87 of the ask price. These businesses

Breakdown of Active Listings by Asking Price had a median revenue of $215,000 and a median cash flow of $90,000. Business buyers paid

Price Number % of Total on average 0.73 times revenue and 2.34 times cash flow.

$0 - $50,000 7 4%

$50,001 - $100,000 29 18%

$100,001 - $200,000 32 20%

$200,001 - $300,000 22 14%

$300,001 - $500,000 18 11%

$500,001 - $1,000,000 23 15%

$1,000,001+ 26 17%





Recently Closed Transactions Examples*

Business Total Closed Revenue Cash Flow

Business Type Subtype County Ad Headline Transactions Sale Price Asking Price Sale/Ask Ratio Revenue Multiple Cash Flow Multiple

Summary data for all closed transactions 17 $ 125,000 $ 150,000 0.87 $ 215,000 0.73 $ 90,000 2.34



Retail - Restaurant Restaurants Bexar Franchise Subs $ 35,000 $ 75,000 0.47 $ 293,000 0.12 $ 4,000 8.75

Retail - Other Bars/Taverns Bexar Opportunity Bar in the Stone Oak Area $ 60,000 $ 60,000 1.00 $ 108,856 0.55 $ 30,982 1.94

Service Landscaping & Yard Services Bexar San Antonio Pool Route (Motivated Seller) $ 25,500 $ 25,500 1.00 $ 67,000 0.38 $ 51,400 0.50

Other Wholesale-Durable Goods Bexar Distribution - Industrial Supply $ 900,000 $ 1,200,000 0.75 $ 1,951,000 0.46 $ 380,000 2.37

Retail - Restaurant Restaurants Bexar Franchise Subs $ 180,000 $ 199,000 0.90 $ 543,000 0.33 $ 80,000 2.25

Retail - Other Gasoline Service Stations Bexar Express car wash + 7 SS Bay & Automatic $ 1,400,000 $ 1,600,000 0.88 $ 800,000 1.75 $ 285,000 4.91

Service Educational Services Bexar Profitable Private Virtual High School in Texas $ 50,000 $ 99,999 0.50 $ 273,000 0.18 $ 115,000 0.43

Service Landscaping & Yard Services Bexar San Antonio Pool Route $ 66,000 $ 66,000 1.00 $ 79,200 0.83 $ 61,000 1.08

Service Landscaping & Yard Services Bexar San Antonio Pool Route $ 90,000 $ 90,000 1.00 $ 165,000 0.55 $ 90,000 1.00

Service Beauty Salons, Barber Shops Bexar Established Beauty Salon/ great area $ 93,000 $ 95,000 0.98 $ 186,000 0.50 $ 75,000 1.24

Service Landscaping & Yard Services Bexar Pool Route for Sale in San Antonio $ 102,000 $ 102,000 1.00 $ 180,400 0.57 $ 110,200 0.93

Service Other Business Services Bexar Trade Publications $ 125,000 $ 195,000 0.64 $ 211,000 0.59 $ 70,300 1.78

Service Amusement & Recreation Bexar Inflatable Rental Company $ 150,000 $ 150,000 1.00 $ 140,999 1.06 $ 70,041 2.14

Service Other Personal Services Bexar Commercial & Technical Engrving @ Sign $ 159,000 $ 199,000 0.80 $ 238,600 0.67 $ 100,300 1.59

Service Other Business Services Bexar Property Management Company-SBA Prequalified $ 576,000 $ 575,000 1.00 $ 312,988 1.84 $ 151,925 3.79

Service Beauty Salons, Barber Shops Bexar Absentee Run, Very Profitable Multi Unit Franchise Hair Salons! $ 1,325,000 $ 1,500,000 0.88 $ 2,341,336 0.57 $ 570,000 2.32

*Closed transactions are self-reported to BizBuySell by the representing brokers. Not all closed transactions are reported to BizBuySell and BizBuySell does not collect data from for-sale-by-owner transactions. Some transactions are excluded from example transactions due to confidentiality.





Counties included: Atascosa, Bandera, Bexar, Comal, Guadalupe, Kendall, Medina, Wilson



Note: Due to Closed Transaction collection and calculation methodology change in Q3 2011, adjustment factors must be applied to draw a direct comparison between Closed Transaction data from this quarter/year and quarters/years subsequent to Q2 2011. For

help with such adjustment contact the BizBuySell team. Active Listings data is not impacted by the methodology change so direct comparison of that data requires no adjustment.”



BizBuySell is the Internet's largest business for sale marketplace. Since 1995, BizBuySell has offered tools that make it easy for business owners and brokers to sell a business, and potential buyers to find the business of their dreams. BizBuySell lists over

45,000 businesses - spanning 80 countries - for sale at any time. The site also features an extensive franchise directory as well as a business valuation tool. Please visit www.bizbuysell.com.

BizBuySell Local Quarterly Insight Report

San Antonio, TX

Q1 2011



BizBuySell Active Listings - Business for Sale Data



Median Asking Avg. Multiple of Avg. Multiple of

Business Type N Sale Price Median Revenue Revenue Median Cash Flow Cash Flow Summary - San Antonio, TX, Q1 2011

Retail - Restaurant 27 $ 195,000 $ 543,000 0.49 $ 75,000 3.57 The median asking price for businesses for sale in this market on BizBuySell was $249,500.

Retail - Other 35 $ 179,000 $ 420,000 0.57 $ 79,000 2.44 These businesses had a median revenue of $365,689 and a median cash flow of $89,021.

Service 65 $ 200,000 $ 244,000 1.20 $ 89,542 3.68 Owners asked for, on average, a revenue multiple of 1.07 and a cash flow multiple of 3.59.

Manufacturing 14 $ 1,850,000 $ 1,350,000 1.38 $ 275,788 4.76

Other 17 $ 800,000 $ 370,000 2.26 $ 209,166 4.67

Total 158 $ 249,500 $ 365,690 1.07 $ 89,021 3.59 BizBuySell analyzed 8 closed transactions in this market in Q1 2011. Businesses sold for a

median sale price of $56,778. On average, this is 0.91 of the ask price. These businesses

Breakdown of Active Listings by Asking Price had a median revenue of $140,500 and a median cash flow of $67,500. Business buyers paid

Price Number % of Total on average 0.49 times revenue and 1.91 times cash flow.

$0 - $50,000 12 8%

$50,001 - $100,000 22 14%

$100,001 - $200,000 38 24%

$200,001 - $300,000 25 16%

$300,001 - $500,000 14 9%

$500,001 - $1,000,000 20 13%

$1,000,001+ 27 17%





Recently Closed Transactions Examples*

Business Total Closed Revenue Cash Flow

Business Type Subtype County Ad Headline Transactions Sale Price Asking Price Sale/Ask Ratio Revenue Multiple Cash Flow Multiple

Summary data for all closed transactions 8 $ 56,779 $ 65,779 0.91 $ 140,500 0.49 $ 67,500 1.91



Retail - Restaurant Restaurants Bexar Mexican Restaurant - Profitable - Growing area! $ 48,500 $ 69,000 0.70 $ 131,000 0.37 $ 42,000 1.15

Service Landscaping & Yard Services Bexar Great starter pool route in San Antonio $ 12,000 $ 23,920 0.50 $ 32,000 0.38 $ 28,476 0.42

Manufacturing Printing, Publishing Bexar Upscale and very profitable Magazine in Texas Hill Country $ 51,000 $ 59,900 0.85 $ 150,000 0.34 $ 55,000 0.93

Service Other Personal Services Bexar Tanning Salon $ 35,000 $ 35,000 1.00 $ 87,273 0.40 $ 7,217 4.85

Service Other Personal Services Bexar Pool Service Route in San Antonio for Sale $ 62,557 $ 62,557 1.00 $ 92,244 0.68 $ 80,000 0.78

Service Auto Repair, Parts & Services Bexar Two Profitable High End Collision Centers!! $ 1,800,000 $ 1,800,000 1.00 $ 6,200,000 0.29 $ 720,000 2.50

Service Auto Repair, Parts & Services Guadalupe Well Established Automotive Repair Shop $ 177,000 $ 170,000 1.04 $ 485,587 0.36 $ 101,109 1.75

Service Other Business Services Bexar Full Service Digital Imaging and Color Reproduction Lab $ 2,000,000 $ 1,700,000 1.18 $ 1,789,226 1.12 $ 690,512 2.90

*Closed transactions are self-reported to BizBuySell by the representing brokers. Not all closed transactions are reported to BizBuySell and BizBuySell does not collect data from for-sale-by-owner transactions. Some transactions are excluded from example transactions due to confidentiality.





Counties included: Atascosa, Bandera, Bexar, Comal, Guadalupe, Kendall, Medina, Wilson



Note: Due to Closed Transaction collection and calculation methodology change in Q3 2011, adjustment factors must be applied to draw a direct comparison between Closed Transaction data from this quarter/year and quarters/years subsequent to Q2 2011. For

help with such adjustment contact the BizBuySell team. Active Listings data is not impacted by the methodology change so direct comparison of that data requires no adjustment.”



BizBuySell is the Internet's largest business for sale marketplace. Since 1995, BizBuySell has offered tools that make it easy for business owners and brokers to sell a business, and potential buyers to find the business of their dreams. BizBuySell lists over

45,000 businesses - spanning 80 countries - for sale at any time. The site also features an extensive franchise directory as well as a business valuation tool. Please visit www.bizbuysell.com.

BizBuySell Local Annual Insight Report

San Antonio, TX

Annual 2010



BizBuySell Recently Sold Listings - Comparables Data



Median Asking Avg. Sale/Ask Avg. Multiple of Avg. Multiple of Cash

Business Type N Median Sale Price Price Ratio Median Revenue Revenue Median Cash Flow Flow Summary - San Antonio, TX, 2010

Retail - Restaurant 12 $ 129,750 $ 129,750 0.98 $ 390,000 0.58 $ 69,000 2.85 BizBuySell analyzed 45 closed transactions in this market in 2010. Businesses

Retail - Other 11 $ 199,000 $ 199,000 0.98 $ 450,000 0.84 $ 70,000 4.07 sold for a median sale price of $150,000. On average, this is 0.97 of the ask

Service 21 $ 120,000 $ 150,000 0.96 $ 150,000 1.32 $ 90,000 3.40 price. These businesses had a median revenue of $360,000 and a median cash

Manufacturing 0 flow of $84,000. Business buyers paid on average 0.99 times revenue and 3.41

Other 1 $ 650,000 $ 650,000 1.00 $ 1,081,903 0.60 $ 212,000 3.07 times cash flow.

Total 45 $ 150,000 $ 160,000 0.97 $ 360,000 0.99 $ 84,000 3.41





Breakdown of Sold Listings by Sale Price



Price Number % of Total

$0 - $50,000 6 13%

$50,001 - $100,000 14 31%

$100,001 - $200,000 7 16%

$200,001 - $300,000 2 4%

$300,001 - $500,000 3 7%

$500,001 - $1,000,000 5 11%

$1,000,001+ 8 18%









Closed Transactions Examples*

Business Revenue Cash Flow

Business Type Subtype County Ad Headline Sale Price Asking Price Sale/Ask Ratio Revenue Multiple Cash Flow Multiple

Retail - Restaurant Restaurants Bexar Taqueria Turnkey operation $ 65,000 $ 65,000 1.00 $ 218,400 0.30 $ 43,680 1.49

Retail - Other Gasoline Service Stations Guadalupe C-store with gas station and Kitchen for sale with real estate $ 250,000 $ 275,000 0.91 $ 360,000 0.69 $ 50,000 5.00

Service Other Personal Services Bexar Pool Service Route in San Antonio For Sale $ 88,800 $ 88,800 1.00 $ 113,800 0.78 $ 99,000 0.90

Other Construction-Special Trades Bexar Highly Profitable Water Driller $ 650,000 $ 650,000 1.00 $ 1,081,903 0.60 $ 212,000 3.07

Retail - Restaurant Restaurants Bexar Excellent Opportunity Established Franchised Restaurant for Sale $ 199,000 $ 199,000 1.00 $ 540,000 0.37 $ 108,000 1.84

Retail - Other Convenience Stores Bexar Just Good Opportunity $ 140,000 $ 155,000 0.90 $ 660,000 0.21 $ 85,000 1.65

Service Engineering & Accounting Svcs Bexar San Antonio TX Tax Prep Service $ 150,000 $ 160,000 0.94 $ 141,600 1.06 $ 115,000 1.30

Retail - Restaurant Restaurants Bexar Restaurant Turn Key Operation for Sale $ 59,999 $ 59,999 1.00 $ 145,000 0.41 $ 25,000 2.40

Retail - Other Gasoline Service Stations Bexar Branded Gas Station for Sale with Property $ 2,100,000 $ 2,100,000 1.00 $ 3,172,655 0.66 $ 300,000 7.00

Service Engineering & Accounting Svcs Bexar San Antonio CPA Firm For Sale $ 400,389 $ 400,389 1.00 $ 327,000 1.22 $ 92,000 4.35

Retail - Restaurant Restaurants Bexar New restaurant and bar for sale turn key operation $ 99,500 $ 99,500 1.00 $ 145,000 0.69 $ 25,000 3.98

Retail - Other Convenience Stores Bexar C-store with gas great location $ 1,250,000 $ 1,250,000 1.00 $ 1,925,000 0.65 $ 165,000 7.58

Service Beauty Salons, Barber Shops Bexar Nail Salon $ 55,000 $ 55,000 1.00 $ 131,786 0.42 $ 63,852 0.86

Retail - Restaurant Restaurants Bexar Quiznos for sale $ 75,000 $ 75,000 1.00 $ 360,000 0.21 $ 48,000 1.56

Retail - Other Miscellaneous Retail Bexar Bicycle and internet shop for sale $ 199,000 $ 199,000 1.00 $ 880,000 0.23 $ 49,500 4.02

Service Other Personal Services Guadalupe San Antonio Pool Service Route for Sale $ 32,160 $ 32,160 1.00 $ 45,160 0.71 $ 39,000 0.82

Retail - Restaurant Restaurants Bexar 3 quiznos restaurants for sale $ 588,000 $ 588,000 1.00 $ 1,100,000 0.53 $ 265,000 2.22

Retail - Other Convenience Stores Bexar Magic Food Mart, Medical Center $ 89,000 $ 89,000 1.00 $ 194,820 0.46 $ 65,000 1.37

Retail - Restaurant Restaurants Bexar Franchise sub for sale $ 160,000 $ 160,000 1.00 $ 360,000 0.44 $ 54,000 2.96

Retail - Other Gasoline Service Stations Guadalupe Mucho Quick Stop,124 W. Kingsbury, Seguin, TX 78155 $ 49,000 $ 49,000 1.00 $ 17,350 2.82 $ 7,140 6.86

*Closed transactions are self-reported to BizBuySell by the representing brokers. Not all closed transactions are reported to BizBuySell and BizBuySell does not collect data from for-sale-by-owner transactions. Some transactions are excluded from example transactions due to confidentiality.





Counties included: Atascosa, Bandera, Bexar, Comal, Guadalupe, Kendall, Medina, Wilson



Note: Due to Closed Transaction collection and calculation methodology change in Q3 2011, adjustment factors must be applied to draw a direct comparison between Closed Transaction data from this quarter/year and quarters/years subsequent to Q2 2011.

For help with such adjustment contact the BizBuySell team. Active Listings data is not impacted by the methodology change so direct comparison of that data requires no adjustment.”



BizBuySell is the Internet's largest business for sale marketplace. Since 1995, BizBuySell has offered tools that make it easy for business owners and brokers to sell a business, and potential buyers to find the business of their dreams. BizBuySell lists over

45,000 businesses - spanning 80 countries - for sale at any time. The site also features an extensive franchise directory as well as a business valuation tool. Please visit www.bizbuysell.com.

BizBuySell Local Quarterly Insight Report

San Antonio, TX

Q4 2010



BizBuySell Active Listings - Business for Sale Data



Median Asking Avg. Multiple of Avg. Multiple of

Business Type N Sale Price Median Revenue Revenue Median Cash Flow Cash Flow Summary - San Antonio, TX, Q4 2010

Retail - Restaurant 22 $ 209,500 $ 546,500 0.48 $ 79,548 3.67 The median asking price for businesses for sale in this market on BizBuySell was $270,000.

Retail - Other 36 $ 179,500 $ 441,250 0.47 $ 75,415 2.60 These businesses had a median revenue of $411,505 and a median cash flow of $100,000.

Service 74 $ 265,000 $ 275,259 1.23 $ 98,500 3.78 Owners asked for, on average, a revenue multiple of 1.01 and a cash flow multiple of 3.63.

Manufacturing 13 $ 2,300,000 $ 1,500,000 1.33 $ 251,575 4.64

Other 16 $ 1,050,000 $ 876,500 1.66 $ 220,000 4.37

Total 161 $ 270,000 $ 411,505 1.01 $ 100,000 3.63 BizBuySell analyzed 8 closed transactions in this market in Q4 2010. Businesses sold for a

median sale price of $200,000. On average, this is 0.97 of the ask price. These businesses

Breakdown of Active Listings by Asking Price had a median revenue of $234,300 and a median cash flow of $95,500. Business buyers paid

Price Number % of Total on average 1.68 times revenue and 3.25 times cash flow.

$0 - $50,000 12 7%

$50,001 - $100,000 21 13%

$100,001 - $200,000 35 22%

$200,001 - $300,000 25 16%

$300,001 - $500,000 15 9%

$500,001 - $1,000,000 23 14%

$1,000,001+ 30 19%





Recently Closed Transactions Examples*

Business Total Closed Revenue Cash Flow

Business Type Subtype County Ad Headline Transactions Sale Price Asking Price Sale/Ask Ratio Revenue Multiple Cash Flow Multiple

Summary data for all closed transactions 8 $ 200,000 $ 217,500 0.97 $ 234,300 1.68 $ 95,500 3.25



Retail - Other Gasoline Service Stations Guadalupe C-store with gas station and Kitchen for sale with real estate $ 250,000 $ 275,000 0.91 $ 360,000 0.69 $ 50,000 5.00

Service Other Personal Services Bexar Pool Service Route in San Antonio For Sale $ 88,800 $ 88,800 1.00 $ 113,800 0.78 $ 99,000 0.90

Service Engineering & Accounting Svcs Bexar San Antonio TX Tax Prep Service $ 150,000 $ 160,000 0.94 $ 141,600 1.06 $ 115,000 1.30

Service Engineering & Accounting Svcs Bexar San Antonio CPA Firm For Sale $ 400,389 $ 400,389 1.00 $ 327,000 1.22 $ 92,000 4.35

Service Beauty Salons, Barber Shops Bexar Nail Salon $ 55,000 $ 55,000 1.00 $ 131,786 0.42 $ 63,852 0.86

Service Other Personal Services Guadalupe San Antonio Pool Service Route for Sale $ 32,160 $ 32,160 1.00 $ 45,160 0.71 $ 39,000 0.82

Service Hotels & Other Lodging Places Bexar Beautiful franchise motel downtoown ,walk to the alamo,riverwalk $ 5,000,000 $ 5,000,000 1.00 $ 1,000,000 5.00 $ 600,000 8.33

*Closed transactions are self-reported to BizBuySell by the representing brokers. Not all closed transactions are reported to BizBuySell and BizBuySell does not collect data from for-sale-by-owner transactions. Some transactions are excluded from example transactions due to confidentiality.





Counties included: Atascosa, Bandera, Bexar, Comal, Guadalupe, Kendall, Medina, Wilson



Note: Due to Closed Transaction collection and calculation methodology change in Q3 2011, adjustment factors must be applied to draw a direct comparison between Closed Transaction data from this quarter/year and quarters/years subsequent to Q2 2011. For

help with such adjustment contact the BizBuySell team. Active Listings data is not impacted by the methodology change so direct comparison of that data requires no adjustment.”



BizBuySell is the Internet's largest business for sale marketplace. Since 1995, BizBuySell has offered tools that make it easy for business owners and brokers to sell a business, and potential buyers to find the business of their dreams. BizBuySell lists over

45,000 businesses - spanning 80 countries - for sale at any time. The site also features an extensive franchise directory as well as a business valuation tool. Please visit www.bizbuysell.com.

BizBuySell Local Quarterly Insight Report

San Antonio, TX

Q3 2010



BizBuySell Active Listings - Business for Sale Data



Median Asking Avg. Multiple of Avg. Multiple of

Business Type N Sale Price Median Revenue Revenue Median Cash Flow Cash Flow Summary - San Antonio, TX, Q3 2010

Retail - Restaurant 33 $ 199,000 $ 450,000 0.54 $ 75,000 3.39 The median asking price for businesses for sale in this market on BizBuySell was $250,000.

Retail - Other 44 $ 165,000 $ 441,250 0.45 $ 74,000 2.76 These businesses had a median revenue of $395,000 and a median cash flow of $94,000.

Service 93 $ 275,000 $ 277,518 1.26 $ 99,000 3.99 Owners asked for, on average, a revenue multiple of 0.98 and a cash flow multiple of 3.64.

Manufacturing 10 $ 1,550,000 $ 1,116,812 1.11 $ 250,788 4.42

Other 17 $ 675,000 $ 786,000 1.63 $ 210,000 4.04

Total 197 $ 250,000 $ 395,000 0.98 $ 94,000 3.64 BizBuySell analyzed 23 closed transactions in this market in Q3 2010. Businesses sold for a

median sale price of $160,000. On average, this is 1.00 of the ask price. These businesses

Breakdown of Active Listings by Asking Price had a median revenue of $360,000 and a median cash flow of $54,000. Business buyers paid

Price Number % of Total on average 0.92 times revenue and 4.03 times cash flow.

$0 - $50,000 15 8%

$50,001 - $100,000 24 12%

$100,001 - $200,000 46 23%

$200,001 - $300,000 35 18%

$300,001 - $500,000 17 9%

$500,001 - $1,000,000 30 15%

$1,000,001+ 30 15%





Recently Closed Transactions Examples*

Business Total Closed Revenue Cash Flow

Business Type Subtype County Ad Headline Transactions Sale Price Asking Price Sale/Ask Ratio Revenue Multiple Cash Flow Multiple

Summary data for all closed transactions 23 $ 160,000 $ 160,000 1.00 $ 360,000 0.92 $ 54,000 4.03



Retail - Restaurant Restaurants Bexar Taqueria Turnkey operation $ 65,000 $ 65,000 1.00 $ 218,400 0.30 $ 43,680 1.49

Retail - Other Convenience Stores Bexar Just Good Opportunity $ 140,000 $ 155,000 0.90 $ 660,000 0.21 $ 85,000 1.65

Service Landscaping & Yard Services Bexar Great starter pool route $ 68,460 $ 68,460 1.00 $ 85,575 0.80 $ 78,880 0.87

Retail - Restaurant Restaurants Bexar Excellent Opportunity Established Franchised Restaurant for Sale $ 199,000 $ 199,000 1.00 $ 540,000 0.37 $ 108,000 1.84

Retail - Other Gasoline Service Stations Bexar Branded Gas Station for Sale with Property $ 2,100,000 $ 2,100,000 1.00 $ 3,172,655 0.66 $ 300,000 7.00

Service Landscaping & Yard Services Bexar Pool route in San Antonio/New Braunfels $ 48,400 $ 48,400 1.00 $ 52,800 0.92 $ 45,600 1.06

Retail - Restaurant Restaurants Bexar Restaurant Turn Key Operation for Sale $ 59,999 $ 59,999 1.00 $ 145,000 0.41 $ 25,000 2.40

Retail - Other Convenience Stores Bexar C-store with gas great location $ 1,250,000 $ 1,250,000 1.00 $ 1,925,000 0.65 $ 165,000 7.58

Service Hotels & Other Lodging Places Bexar San Antonio Hotel foreclosure & FL land - Maybe Adult Care Facility? $ 2,300,000 $ 2,000,000 1.15 $ 2,300,000 1.00 $ 630,000 3.65

Retail - Restaurant Restaurants Bexar New restaurant and bar for sale turn key operation $ 99,500 $ 99,500 1.00 $ 145,000 0.69 $ 25,000 3.98

Retail - Other Miscellaneous Retail Bexar Bicycle and internet shop for sale $ 199,000 $ 199,000 1.00 $ 880,000 0.23 $ 49,500 4.02

Service Beauty Salons, Barber Shops Bexar High-End Barber Shop for Sale $ 75,000 $ 75,000 1.00 $ 169,917 0.44 $ 40,441 1.85

Retail - Restaurant Restaurants Bexar Quiznos for sale $ 75,000 $ 75,000 1.00 $ 360,000 0.21 $ 48,000 1.56

Service Other Business Services Bexar Carwash and Detailing Center for Sale $ 625,000 $ 625,000 1.00 $ 91,577 6.82 $ 45,000 13.89

Retail - Restaurant Restaurants Bexar 3 quiznos restaurants for sale $ 588,000 $ 588,000 1.00 $ 1,100,000 0.53 $ 265,000 2.22

Service Health, Medical & Dental Bexar Medical practice for sale $ 5,000,000 $ 5,000,000 1.00 $ 9,155,000 0.55 $ 1,758,000 2.84

Retail - Restaurant Restaurants Bexar Franchise sub for sale $ 160,000 $ 160,000 1.00 $ 360,000 0.44 $ 54,000 2.96

Service Beauty Salons, Barber Shops Bexar Beauty salon for sale $ 27,500 $ 27,500 1.00 $ 105,000 0.26 $ 4,000 6.88

Retail - Restaurant Restaurants Bexar Looking for expereince restaurant partner $ 1,000,000 $ 1,000,000 1.00 $ 4,680,000 0.21 $ 1,281,060 0.78

Service Other Travel & Transportation Bexar Charters buses for sale $ 1,480,000 $ 1,480,000 1.00 $ 720,000 2.06 $ 199,000 7.44

*Closed transactions are self-reported to BizBuySell by the representing brokers. Not all closed transactions are reported to BizBuySell and BizBuySell does not collect data from for-sale-by-owner transactions. Some transactions are excluded from example transactions due to confidentiality.





Counties included: Atascosa, Bandera, Bexar, Comal, Guadalupe, Kendall, Medina, Wilson



Note: Due to Closed Transaction collection and calculation methodology change in Q3 2011, adjustment factors must be applied to draw a direct comparison between Closed Transaction data from this quarter/year and quarters/years subsequent to Q2 2011. For

help with such adjustment contact the BizBuySell team. Active Listings data is not impacted by the methodology change so direct comparison of that data requires no adjustment.”



BizBuySell is the Internet's largest business for sale marketplace. Since 1995, BizBuySell has offered tools that make it easy for business owners and brokers to sell a business, and potential buyers to find the business of their dreams. BizBuySell lists over

45,000 businesses - spanning 80 countries - for sale at any time. The site also features an extensive franchise directory as well as a business valuation tool. Please visit www.bizbuysell.com.

BizBuySell Local Quarterly Insight Report

San Antonio, TX

Q2 2010



BizBuySell Active Listings - Business for Sale Data



Median Asking Avg. Multiple of Avg. Multiple of

Business Type N Sale Price Median Revenue Revenue Median Cash Flow Cash Flow Summary - San Antonio, TX, Q2 2010

Retail - Restaurant 30 $ 190,000 $ 430,558 0.54 $ 76,000 3.48 The median asking price for businesses for sale in this market on BizBuySell was $265,000.

Retail - Other 49 $ 155,000 $ 420,000 0.46 $ 71,700 2.79 These businesses had a median revenue of $404,000 and a median cash flow of $88,250.

Service 92 $ 295,000 $ 315,951 1.28 $ 90,348 4.51 Owners asked for, on average, a revenue multiple of 1.00 and a cash flow multiple of 3.92.

Manufacturing 9 $ 2,950,000 $ 1,600,000 1.40 $ 356,281 5.20

Other 14 $ 587,500 $ 576,836 1.85 $ 177,960 4.15

Total 194 $ 265,000 $ 404,000 1.00 $ 88,250 3.92 BizBuySell analyzed 7 closed transactions in this market in Q2 2010. Businesses sold for a

median sale price of $89,000. On average, this is 0.92 of the ask price. These businesses

Breakdown of Active Listings by Asking Price had a median revenue of $420,000 and a median cash flow of $84,000. Business buyers paid

Price Number % of Total on average 0.69 times revenue and 2.44 times cash flow.

$0 - $50,000 16 8%

$50,001 - $100,000 23 12%

$100,001 - $200,000 45 23%

$200,001 - $300,000 34 18%

$300,001 - $500,000 19 10%

$500,001 - $1,000,000 30 15%

$1,000,001+ 27 14%





Recently Closed Transactions Examples*

Business Total Closed Revenue Cash Flow

Business Type Subtype County Ad Headline Transactions Sale Price Asking Price Sale/Ask Ratio Revenue Multiple Cash Flow Multiple

Summary data for all closed transactions 7 $ 89,000 $ 89,000 0.92 $ 420,000 0.69 $ 84,000 2.44



Retail - Restaurant Restaurants Bexar Sandwich and bake shop for sale $ 30,000 $ 35,000 0.86 $ 72,000 0.42 $ 36,000 0.83

Retail - Other Convenience Stores Bexar Magic Food Mart, Medical Center $ 89,000 $ 89,000 1.00 $ 194,820 0.46 $ 65,000 1.37

Service Miscellaneous Services Bexar LSV(Low Speed Vehicle) Dealer $ 400,000 $ 550,000 0.73 $ 2,136,000 0.19 $ 98,000 4.08

Retail - Restaurant Restaurants Bexar Restaurant Turn Key Operation for Sale $ 55,000 $ 55,000 1.00 $ 420,000 0.13 $ 84,000 0.65

Retail - Other Gasoline Service Stations Guadalupe Mucho Quick Stop,124 W. Kingsbury, Seguin, TX 78155 $ 49,000 $ 49,000 1.00 $ 17,350 2.82 $ 7,140 6.86

Retail - Restaurant Restaurants Bexar Mexican Restaurant with Drive Thru $ 300,000 $ 350,000 0.86 $ 500,000 0.60 $ 168,500 1.78

Retail - Other Gasoline Service Stations Bexar Indian-American C-Store and Gas Station for Sale $ 375,000 $ 375,000 1.00 $ 1,860,000 0.20 $ 250,000 1.50

*Closed transactions are self-reported to BizBuySell by the representing brokers. Not all closed transactions are reported to BizBuySell and BizBuySell does not collect data from for-sale-by-owner transactions. Some transactions are excluded from example transactions due to confidentiality.





Counties included: Atascosa, Bandera, Bexar, Comal, Guadalupe, Kendall, Medina, Wilson



Note: Due to Closed Transaction collection and calculation methodology change in Q3 2011, adjustment factors must be applied to draw a direct comparison between Closed Transaction data from this quarter/year and quarters/years subsequent to Q2 2011. For

help with such adjustment contact the BizBuySell team. Active Listings data is not impacted by the methodology change so direct comparison of that data requires no adjustment.”



BizBuySell is the Internet's largest business for sale marketplace. Since 1995, BizBuySell has offered tools that make it easy for business owners and brokers to sell a business, and potential buyers to find the business of their dreams. BizBuySell lists over

45,000 businesses - spanning 80 countries - for sale at any time. The site also features an extensive franchise directory as well as a business valuation tool. Please visit www.bizbuysell.com.

BizBuySell Local Quarterly Insight Report

San Antonio, TX

Q1 2010



BizBuySell Active Listings - Business for Sale Data



Median Asking Avg. Multiple of Avg. Multiple of

Business Type N Sale Price Median Revenue Revenue Median Cash Flow Cash Flow Summary - San Antonio, TX, Q1 2010

Retail - Restaurant 29 $ 225,000 $ 450,000 0.53 $ 84,000 3.34 The median asking price for businesses for sale in this market on BizBuySell was $284,500.

Retail - Other 46 $ 162,500 $ 454,554 0.49 $ 78,500 2.77 These businesses had a median revenue of $420,000 and a median cash flow of $89,668.

Service 76 $ 295,000 $ 315,951 1.20 $ 85,088 4.10 Owners asked for, on average, a revenue multiple of 0.91 and a cash flow multiple of 3.67.

Manufacturing 11 $ 2,950,000 $ 2,041,571 1.28 $ 356,281 5.42

Other 14 $ 662,500 $ 588,485 1.24 $ 178,890 3.58

Total 176 $ 284,500 $ 420,000 0.91 $ 89,669 3.67 BizBuySell analyzed 7 closed transactions in this market in Q1 2010. Businesses sold for a

median sale price of $120,000. On average, this is 0.90 of the ask price. These businesses

Breakdown of Active Listings by Asking Price had a median revenue of $445,000 and a median cash flow of $90,000. Business buyers paid

Price Number % of Total on average 0.74 times revenue and 2.50 times cash flow.

$0 - $50,000 12 7%

$50,001 - $100,000 30 17%

$100,001 - $200,000 33 19%

$200,001 - $300,000 27 15%

$300,001 - $500,000 17 10%

$500,001 - $1,000,000 31 18%

$1,000,001+ 26 15%





Recently Closed Transactions Examples*

Business Total Closed Revenue Cash Flow

Business Type Subtype County Ad Headline Transactions Sale Price Asking Price Sale/Ask Ratio Revenue Multiple Cash Flow Multiple

Summary data for all closed transactions 7 $ 120,000 $ 150,000 0.90 $ 445,000 0.74 $ 90,000 2.50



Retail - Other Liquor Stores Bexar Dropped again $20K! Liquor store business for sale $ 59,000 $ 59,000 1.00 $ 445,000 0.13 $ 70,000 0.84

Service Other Business Services Bexar Specialty Promotional Items in San Antonio $ 120,000 $ 150,000 0.80 $ 320,000 0.38 $ 46,000 2.61

Other Construction-Special Trades Bexar Highly Profitable Water Driller $ 650,000 $ 650,000 1.00 $ 1,081,903 0.60 $ 212,000 3.07

Retail - Other Convenience Stores Bexar Hamilton Grocery $ 55,000 $ 60,000 0.92 $ 450,000 0.12 $ 50,000 1.10

Service Other Personal Services Bexar Pool Service Route in San Antonio For Sale $ 66,000 $ 66,000 1.00 $ 102,000 0.65 $ 90,000 0.73

Retail - Other Convenience Stores Bexar Convenience store with gas station in San Antonio, TX $ 749,000 $ 749,000 1.00 $ 244,200 3.07 $ 96,000 7.80

Service Health, Medical & Dental Bexar Successful Cosmetic Dermatology Practice in San Antonio $ 200,000 $ 325,000 0.62 $ 937,000 0.21 $ 150,000 1.33

*Closed transactions are self-reported to BizBuySell by the representing brokers. Not all closed transactions are reported to BizBuySell and BizBuySell does not collect data from for-sale-by-owner transactions. Some transactions are excluded from example transactions due to confidentiality.





Counties included: Atascosa, Bandera, Bexar, Comal, Guadalupe, Kendall, Medina, Wilson



Note: Due to Closed Transaction collection and calculation methodology change in Q3 2011, adjustment factors must be applied to draw a direct comparison between Closed Transaction data from this quarter/year and quarters/years subsequent to Q2 2011. For

help with such adjustment contact the BizBuySell team. Active Listings data is not impacted by the methodology change so direct comparison of that data requires no adjustment.”



BizBuySell is the Internet's largest business for sale marketplace. Since 1995, BizBuySell has offered tools that make it easy for business owners and brokers to sell a business, and potential buyers to find the business of their dreams. BizBuySell lists over

45,000 businesses - spanning 80 countries - for sale at any time. The site also features an extensive franchise directory as well as a business valuation tool. Please visit www.bizbuysell.com.

BizBuySell Local Annual Insight Report

San Antonio, TX

Annual 2009



BizBuySell Recently Sold Listings - Comparables Data



Median Asking Avg. Sale/Ask Avg. Multiple of Avg. Multiple of Cash

Business Type N Median Sale Price Price Ratio Median Revenue Revenue Median Cash Flow Flow Summary - San Antonio, TX, 2009

Retail - Restaurant 6 $ 153,750 $ 175,000 0.83 $ 453,359 0.30 $ 70,026 2.18 BizBuySell analyzed 34 closed transactions in this market in 2009. Businesses

Retail - Other 10 $ 119,500 $ 124,500 0.91 $ 347,500 0.64 $ 85,000 2.78 sold for a median sale price of $144,500. On average, this is 0.91 of the ask

Service 14 $ 220,000 $ 239,250 0.98 $ 267,815 0.98 $ 90,000 3.49 price. These businesses had a median revenue of $363,500 and a median cash

Manufacturing 3 $ 105,000 $ 150,000 0.74 $ 279,000 1.06 $ 75,000 3.29 flow of $78,654. Business buyers paid on average 0.75 times revenue and 3.00

Other 1 $ 890,000 $ 990,000 0.90 $ 1,800,000 0.49 $ 370,000 2.41 times cash flow.

Total 34 $ 144,500 $ 174,500 0.91 $ 363,500 0.75 $ 78,654 3.00





Breakdown of Sold Listings by Sale Price



Price Number % of Total

$0 - $50,000 4 12%

$50,001 - $100,000 6 18%

$100,001 - $200,000 11 32%

$200,001 - $300,000 4 12%

$300,001 - $500,000 1 3%

$500,001 - $1,000,000 2 6%

$1,000,001+ 6 18%









Closed Transactions Examples*

Business Revenue Cash Flow

Business Type Subtype County Ad Headline Sale Price Asking Price Sale/Ask Ratio Revenue Multiple Cash Flow Multiple

Retail - Restaurant Restaurants Bexar Franchise Subs $ 250,000 $ 339,000 0.74 $ 596,500 0.42 $ 68,200 3.67

Retail - Other Gasoline Service Stations Medina Fuel Express,2816 Hwy 132 N, Natalia, TX 78059 $ 119,000 $ 119,000 1.00 $ 248,400 0.48 $ 133,020 0.89

Service Auto Repair, Parts & Services Bexar Muffler, Tire & General Minor Repairs $ 250,000 $ 280,000 0.89 $ 370,000 0.68 $ 116,000 2.16

Retail - Restaurant Restaurants Bexar Profitable Family Restaurant in Awesome Location $ 150,000 $ 197,000 0.76 $ 480,000 0.31 $ 72,582 2.07

Manufacturing Miscellaneous Bexar San Antonio Vehicle Wrap Company $ 105,000 $ 140,000 0.75 $ 279,000 0.38 $ 75,000 1.40

Retail - Restaurant Restaurants Bexar High Profile "Name Restaurant & Bar" $ 175,000 $ 175,000 1.00 $ 1,424,933 0.12 $ 61,050 2.87

Retail - Other Gasoline Service Stations Bexar EZ Stop (Citgo) gas station in Seguin, TX $ 110,000 $ 110,000 1.00 $ 275,000 0.40 $ 144,000 0.76

Service Other Personal Services Comal Pool Service Route in New Braunfels For Sale $ 29,500 $ 32,285 0.91 $ 50,220 0.59 $ 44,000 0.67

Manufacturing Miscellaneous Bexar Specialty Products Manufacturer for Horse Racing Industry $ 70,000 $ 150,000 0.47 $ 43,393 1.61 $ 26,590 2.63

Retail - Restaurant Restaurants Bexar Franchise Subs $ 50,000 $ 65,000 0.77 $ 300,000 0.17 $ 54,000 0.93

Retail - Other Convenience Stores Bexar Citgo gas station on Fredericksburg Rd $ 399,000 $ 399,000 1.00 $ 1,000,000 0.40 $ 96,000 4.16

Service Other Business Services Bexar Highly Profitable Commercial Cleaning Company $ 83,000 $ 99,000 0.84 $ 99,112 0.84 $ 43,870 1.89

Retail - Restaurant Restaurants Bexar Franchise Subs $ 139,000 $ 174,000 0.80 $ 357,000 0.39 $ 100,400 1.38

Retail - Other Bars/Taverns Bexar Established Neighborhood Bar $ 135,000 $ 135,000 1.00 $ 260,000 0.52 $ 24,000 5.63

Service Auto Repair, Parts & Services Guadalupe Auto Parts Distribution Opportunity $ 65,000 $ 67,000 0.97 $ 165,021 0.39 $ 32,482 2.00

Retail - Restaurant Restaurants Bexar Profitable Pizza Franchise $ 157,500 $ 175,000 0.90 $ 426,718 0.37 $ 71,851 2.19

Retail - Other Convenience Stores Bexar Medical center gas station with convenience store $ 120,000 $ 130,000 0.92 $ 600,000 0.20 $ 90,000 1.33

Service Other Business Services Bexar Very Profitable Pressure Cleaning Business $ 2,130,000 $ 1,725,000 1.23 $ 1,624,618 1.31 $ 473,112 4.50

Retail - Other Convenience Stores Bexar Established C-store with gas station in Pleasanton, TX $ 10,000 $ 30,000 0.33 $ 30,000 0.33 $ 5,000 2.00

Service Other Personal Services Bexar Pool Service Route in San Antonio For Sale $ 54,060 $ 54,060 1.00 $ 84,872 0.64 $ 74,000 0.73

*Closed transactions are self-reported to BizBuySell by the representing brokers. Not all closed transactions are reported to BizBuySell and BizBuySell does not collect data from for-sale-by-owner transactions. Some transactions are excluded from example transactions due to confidentiality.





Counties included: Atascosa, Bandera, Bexar, Comal, Guadalupe, Kendall, Medina, Wilson



Note: Due to Closed Transaction collection and calculation methodology change in Q3 2011, adjustment factors must be applied to draw a direct comparison between Closed Transaction data from this quarter/year and quarters/years subsequent to Q2 2011.

For help with such adjustment contact the BizBuySell team. Active Listings data is not impacted by the methodology change so direct comparison of that data requires no adjustment.”



BizBuySell is the Internet's largest business for sale marketplace. Since 1995, BizBuySell has offered tools that make it easy for business owners and brokers to sell a business, and potential buyers to find the business of their dreams. BizBuySell lists over

45,000 businesses - spanning 80 countries - for sale at any time. The site also features an extensive franchise directory as well as a business valuation tool. Please visit www.bizbuysell.com.

BizBuySell Local Quarterly Insight Report

San Antonio, TX

Q4 2009



BizBuySell Active Listings - Business for Sale Data



Median Asking Avg. Multiple of Avg. Multiple of

Business Type N Sale Price Median Revenue Revenue Median Cash Flow Cash Flow Summary - San Antonio, TX, Q4 2009

Retail - Restaurant 23 $ 199,000 $ 460,000 0.52 $ 80,400 3.67 The median asking price for businesses for sale in this market on BizBuySell was $277,500.

Retail - Other 43 $ 199,000 $ 459,108 0.45 $ 88,000 3.07 These businesses had a median revenue of $425,500 and a median cash flow of $89,668.

Service 76 $ 295,000 $ 295,909 1.21 $ 74,500 4.21 Owners asked for, on average, a revenue multiple of 0.90 and a cash flow multiple of 3.77.

Manufacturing 11 $ 865,000 $ 582,000 1.04 $ 154,750 3.73

Other 13 $ 990,000 $ 1,081,903 1.05 $ 211,860 3.68

Total 166 $ 277,500 $ 425,500 0.90 $ 89,669 3.77 BizBuySell analyzed 6 closed transactions in this market in Q4 2009. Businesses sold for a

median sale price of $200,000. On average, this is 0.85 of the ask price. These businesses

Breakdown of Active Listings by Asking Price had a median revenue of $325,438 and a median cash flow of $70,391. Business buyers paid

Price Number % of Total on average 0.97 times revenue and 3.90 times cash flow.

$0 - $50,000 15 9%

$50,001 - $100,000 23 14%

$100,001 - $200,000 33 20%

$200,001 - $300,000 24 14%

$300,001 - $500,000 21 13%

$500,001 - $1,000,000 28 17%

$1,000,001+ 22 13%





Recently Closed Transactions Examples*

Business Total Closed Revenue Cash Flow

Business Type Subtype County Ad Headline Transactions Sale Price Asking Price Sale/Ask Ratio Revenue Multiple Cash Flow Multiple

Summary data for all closed transactions 6 $ 200,000 $ 238,500 0.85 $ 325,438 0.97 $ 70,391 3.90



Retail - Restaurant Restaurants Bexar Franchise Subs $ 250,000 $ 339,000 0.74 $ 596,500 0.42 $ 68,200 3.67

Retail - Other Gasoline Service Stations Medina Fuel Express,2816 Hwy 132 N, Natalia, TX 78059 $ 119,000 $ 119,000 1.00 $ 248,400 0.48 $ 133,020 0.89

Service Auto Repair, Parts & Services Bexar Muffler, Tire & General Minor Repairs $ 250,000 $ 280,000 0.89 $ 370,000 0.68 $ 116,000 2.16

Retail - Restaurant Restaurants Bexar Profitable Family Restaurant in Awesome Location $ 150,000 $ 197,000 0.76 $ 480,000 0.31 $ 72,582 2.07

Service Other Personal Services Comal Pool Service Route in New Braunfels For Sale $ 29,500 $ 32,285 0.91 $ 50,220 0.59 $ 44,000 0.67

*Closed transactions are self-reported to BizBuySell by the representing brokers. Not all closed transactions are reported to BizBuySell and BizBuySell does not collect data from for-sale-by-owner transactions. Some transactions are excluded from example transactions due to confidentiality.





Counties included: Atascosa, Bandera, Bexar, Comal, Guadalupe, Kendall, Medina, Wilson



Note: Due to Closed Transaction collection and calculation methodology change in Q3 2011, adjustment factors must be applied to draw a direct comparison between Closed Transaction data from this quarter/year and quarters/years subsequent to Q2 2011. For

help with such adjustment contact the BizBuySell team. Active Listings data is not impacted by the methodology change so direct comparison of that data requires no adjustment.”



BizBuySell is the Internet's largest business for sale marketplace. Since 1995, BizBuySell has offered tools that make it easy for business owners and brokers to sell a business, and potential buyers to find the business of their dreams. BizBuySell lists over

45,000 businesses - spanning 80 countries - for sale at any time. The site also features an extensive franchise directory as well as a business valuation tool. Please visit www.bizbuysell.com.

BizBuySell Local Quarterly Insight Report

San Antonio, TX

Q3 2009



BizBuySell Active Listings - Business for Sale Data



Median Asking Avg. Multiple of Avg. Multiple of

Business Type N Sale Price Median Revenue Revenue Median Cash Flow Cash Flow Summary - San Antonio, TX, Q3 2009

Retail - Restaurant 22 $ 198,000 $ 447,500 0.58 $ 73,791 3.48 The median asking price for businesses for sale in this market on BizBuySell was $265,000.

Retail - Other 45 $ 199,000 $ 420,000 0.71 $ 79,000 3.91 These businesses had a median revenue of $429,500 and a median cash flow of $86,500.

Service 66 $ 275,000 $ 271,938 1.18 $ 78,952 4.12 Owners asked for, on average, a revenue multiple of 0.93 and a cash flow multiple of 3.93.

Manufacturing 11 $ 865,000 $ 582,000 0.96 $ 205,859 3.69

Other 12 $ 994,500 $ 1,425,621 0.99 $ 211,930 3.95

Total 156 $ 265,000 $ 429,500 0.93 $ 86,500 3.93 BizBuySell analyzed 10 closed transactions in this market in Q3 2009. Businesses sold for a

median sale price of $188,500. On average, this is 0.99 of the ask price. These businesses

Breakdown of Active Listings by Asking Price had a median revenue of $521,042 and a median cash flow of $120,000. Business buyers

Price Number % of Total paid on average 0.71 times revenue and 2.83 times cash flow.

$0 - $50,000 11 7%

$50,001 - $100,000 25 16%

$100,001 - $200,000 32 21%

$200,001 - $300,000 22 14%

$300,001 - $500,000 17 11%

$500,001 - $1,000,000 26 17%

$1,000,001+ 23 15%





Recently Closed Transactions Examples*

Business Total Closed Revenue Cash Flow

Business Type Subtype County Ad Headline Transactions Sale Price Asking Price Sale/Ask Ratio Revenue Multiple Cash Flow Multiple

Summary data for all closed transactions 10 $ 188,500 $ 202,500 0.99 $ 521,042 0.71 $ 120,000 2.83



Service Other Business Services Bexar Highly Profitable Commercial Cleaning Company $ 83,000 $ 99,000 0.84 $ 99,112 0.84 $ 43,870 1.89

Retail - Other Gasoline Service Stations Bexar EZ Stop (Citgo) gas station in Seguin, TX $ 110,000 $ 110,000 1.00 $ 275,000 0.40 $ 144,000 0.76

Service Auto Repair, Parts & Services Guadalupe Auto Parts Distribution Opportunity $ 65,000 $ 67,000 0.97 $ 165,021 0.39 $ 32,482 2.00

Retail - Other Convenience Stores Bexar Citgo gas station on Fredericksburg Rd $ 399,000 $ 399,000 1.00 $ 1,000,000 0.40 $ 96,000 4.16

Service Other Business Services Bexar Very Profitable Pressure Cleaning Business $ 2,130,000 $ 1,725,000 1.23 $ 1,624,618 1.31 $ 473,112 4.50

Service Other Personal Services Bexar Pool Service Route in San Antonio For Sale $ 54,060 $ 54,060 1.00 $ 84,872 0.64 $ 74,000 0.73

Service Other Personal Services Bexar Pool Service Route in San Antonio For Sale $ 108,770 $ 108,770 1.00 $ 171,524 0.63 $ 150,000 0.73

*Closed transactions are self-reported to BizBuySell by the representing brokers. Not all closed transactions are reported to BizBuySell and BizBuySell does not collect data from for-sale-by-owner transactions. Some transactions are excluded from example transactions due to confidentiality.





Counties included: Atascosa, Bandera, Bexar, Comal, Guadalupe, Kendall, Medina, Wilson



Note: Due to Closed Transaction collection and calculation methodology change in Q3 2011, adjustment factors must be applied to draw a direct comparison between Closed Transaction data from this quarter/year and quarters/years subsequent to Q2 2011. For

help with such adjustment contact the BizBuySell team. Active Listings data is not impacted by the methodology change so direct comparison of that data requires no adjustment.”



BizBuySell is the Internet's largest business for sale marketplace. Since 1995, BizBuySell has offered tools that make it easy for business owners and brokers to sell a business, and potential buyers to find the business of their dreams. BizBuySell lists over

45,000 businesses - spanning 80 countries - for sale at any time. The site also features an extensive franchise directory as well as a business valuation tool. Please visit www.bizbuysell.com.

BizBuySell Local Quarterly Insight Report

San Antonio, TX

Q2 2009



BizBuySell Active Listings - Business for Sale Data



Median Asking Avg. Multiple of Avg. Multiple of

Business Type N Sale Price Median Revenue Revenue Median Cash Flow Cash Flow Summary - San Antonio, TX, Q2 2009

Retail - Restaurant 19 $ 139,000 $ 357,000 0.61 $ 65,000 3.19 The median asking price for businesses for sale in this market on BizBuySell was $275,000.

Retail - Other 37 $ 175,000 $ 412,000 0.76 $ 72,160 4.26 These businesses had a median revenue of $443,380 and a median cash flow of $88,000.

Service 64 $ 297,500 $ 328,431 1.38 $ 94,000 3.87 Owners asked for, on average, a revenue multiple of 1.08 and a cash flow multiple of 3.96.

Manufacturing 9 $ 1,200,000 $ 1,000,000 1.07 $ 205,859 4.59

Other 10 $ 820,000 $ 1,475,621 1.28 $ 168,500 4.40

Total 139 $ 275,000 $ 443,380 1.08 $ 88,000 3.96 BizBuySell analyzed 6 closed transactions in this market in Q2 2009. Businesses sold for a

median sale price of $162,500. On average, this is 1.01 of the ask price. These businesses

Breakdown of Active Listings by Asking Price had a median revenue of $430,000 and a median cash flow of $87,500. Business buyers paid

Price Number % of Total on average 0.60 times revenue and 3.29 times cash flow.

$0 - $50,000 12 9%

$50,001 - $100,000 24 17%

$100,001 - $200,000 24 17%

$200,001 - $300,000 18 13%

$300,001 - $500,000 16 12%

$500,001 - $1,000,000 18 13%

$1,000,001+ 27 19%





Recently Closed Transactions Examples*

Business Total Closed Revenue Cash Flow

Business Type Subtype County Ad Headline Transactions Sale Price Asking Price Sale/Ask Ratio Revenue Multiple Cash Flow Multiple

Summary data for all closed transactions 6 $ 162,500 $ 166,750 1.01 $ 430,000 0.60 $ 87,500 3.29



Retail - Other Bars/Taverns Bexar Established Neighborhood Bar $ 135,000 $ 135,000 1.00 $ 260,000 0.52 $ 24,000 5.63

Service Other Personal Services Bexar Pool Service Route in San Antonio For Sale $ 61,600 $ 61,600 1.00 $ 96,200 0.64 $ 85,000 0.72

Retail - Other Convenience Stores Bexar Medical center gas station with convenience store $ 120,000 $ 130,000 0.92 $ 600,000 0.20 $ 90,000 1.33

Service Beauty Salons, Barber Shops Bexar Classy High Volume Hair Salon $ 190,000 $ 198,500 0.96 $ 254,753 0.75 $ 75,666 2.51

Service Agents & Brokers Bexar Insurance Agency, North San Antonio, Captive $ 275,000 $ 295,000 0.93 $ 1,250,000 0.22 $ 95,000 2.89

Service Health, Medical & Dental Bexar Cross Border Medical Billing & Coding Company $ 2,500,000 $ 2,000,000 1.25 $ 2,000,000 1.25 $ 375,000 6.67

*Closed transactions are self-reported to BizBuySell by the representing brokers. Not all closed transactions are reported to BizBuySell and BizBuySell does not collect data from for-sale-by-owner transactions. Some transactions are excluded from example transactions due to confidentiality.





Counties included: Atascosa, Bandera, Bexar, Comal, Guadalupe, Kendall, Medina, Wilson



Note: Due to Closed Transaction collection and calculation methodology change in Q3 2011, adjustment factors must be applied to draw a direct comparison between Closed Transaction data from this quarter/year and quarters/years subsequent to Q2 2011. For

help with such adjustment contact the BizBuySell team. Active Listings data is not impacted by the methodology change so direct comparison of that data requires no adjustment.”



BizBuySell is the Internet's largest business for sale marketplace. Since 1995, BizBuySell has offered tools that make it easy for business owners and brokers to sell a business, and potential buyers to find the business of their dreams. BizBuySell lists over

45,000 businesses - spanning 80 countries - for sale at any time. The site also features an extensive franchise directory as well as a business valuation tool. Please visit www.bizbuysell.com.

BizBuySell Local Quarterly Insight Report

San Antonio, TX

Q1 2009



BizBuySell Active Listings - Business for Sale Data



Median Asking Avg. Multiple of Avg. Multiple of

Business Type N Sale Price Median Revenue Revenue Median Cash Flow Cash Flow Summary - San Antonio, TX, Q1 2009

Retail - Restaurant 22 $ 186,000 $ 516,736 0.63 $ 72,000 4.16 The median asking price for businesses for sale in this market on BizBuySell was $250,000.

Retail - Other 42 $ 187,000 $ 391,189 0.79 $ 72,080 4.03 These businesses had a median revenue of $426,718 and a median cash flow of $90,000.

Service 54 $ 355,000 $ 340,009 1.52 $ 98,500 4.06 Owners asked for, on average, a revenue multiple of 1.11 and a cash flow multiple of 4.03.

Manufacturing 9 $ 399,000 $ 653,000 1.25 $ 107,930 3.87

Other 12 $ 800,000 $ 1,129,511 1.25 $ 267,500 3.72

Total 139 $ 250,000 $ 426,718 1.11 $ 90,000 4.03 BizBuySell analyzed 12 closed transactions in this market in Q1 2009. Businesses sold for a

median sale price of $122,000. On average, this is 0.82 of the ask price. These businesses

Breakdown of Active Listings by Asking Price had a median revenue of $388,500 and a median cash flow of $73,426. Business buyers paid

Price Number % of Total on average 0.76 times revenue and 2.55 times cash flow.

$0 - $50,000 9 6%

$50,001 - $100,000 21 15%

$100,001 - $200,000 32 23%

$200,001 - $300,000 16 12%

$300,001 - $500,000 13 9%

$500,001 - $1,000,000 23 17%

$1,000,001+ 25 18%





Recently Closed Transactions Examples*

Business Total Closed Revenue Cash Flow

Business Type Subtype County Ad Headline Transactions Sale Price Asking Price Sale/Ask Ratio Revenue Multiple Cash Flow Multiple

Summary data for all closed transactions 12 $ 122,000 $ 162,000 0.82 $ 388,500 0.76 $ 73,426 2.55



Retail - Restaurant Restaurants Bexar High Profile "Name Restaurant & Bar" $ 175,000 $ 175,000 1.00 $ 1,424,933 0.12 $ 61,050 2.87

Service Health, Medical & Dental Bexar Medical Transcription BPO Acquisition Opportunity $ 5,000,000 $ 5,000,000 1.00 $ 3,329,712 1.50 $ 950,402 5.26

Manufacturing Miscellaneous Bexar San Antonio Vehicle Wrap Company $ 105,000 $ 140,000 0.75 $ 279,000 0.38 $ 75,000 1.40

Retail - Restaurant Restaurants Bexar Franchise Subs $ 50,000 $ 65,000 0.77 $ 300,000 0.17 $ 54,000 0.93

Retail - Other Convenience Stores Bexar Established C-store with gas station in Pleasanton, TX $ 10,000 $ 30,000 0.33 $ 30,000 0.33 $ 5,000 2.00

Manufacturing Miscellaneous Bexar Specialty Products Manufacturer for Horse Racing Industry $ 70,000 $ 150,000 0.47 $ 43,393 1.61 $ 26,590 2.63

Retail - Restaurant Restaurants Bexar Franchise Subs $ 139,000 $ 174,000 0.80 $ 357,000 0.39 $ 100,400 1.38

Retail - Other Apparel and Accessory Stores Bexar Ladies Apparel & Accessories $ 50,000 $ 50,000 1.00 $ 147,000 0.34 $ 67,000 0.75

Retail - Restaurant Restaurants Bexar Profitable Pizza Franchise $ 157,500 $ 175,000 0.90 $ 426,718 0.37 $ 71,851 2.19

Retail - Other Liquor Stores Bexar Medical Center Liquor Store for Sale $ 98,000 $ 110,000 0.89 $ 420,000 0.23 $ 80,000 1.23

*Closed transactions are self-reported to BizBuySell by the representing brokers. Not all closed transactions are reported to BizBuySell and BizBuySell does not collect data from for-sale-by-owner transactions. Some transactions are excluded from example transactions due to confidentiality.





Counties included: Atascosa, Bandera, Bexar, Comal, Guadalupe, Kendall, Medina, Wilson



Note: Due to Closed Transaction collection and calculation methodology change in Q3 2011, adjustment factors must be applied to draw a direct comparison between Closed Transaction data from this quarter/year and quarters/years subsequent to Q2 2011. For

help with such adjustment contact the BizBuySell team. Active Listings data is not impacted by the methodology change so direct comparison of that data requires no adjustment.”



BizBuySell is the Internet's largest business for sale marketplace. Since 1995, BizBuySell has offered tools that make it easy for business owners and brokers to sell a business, and potential buyers to find the business of their dreams. BizBuySell lists over

45,000 businesses - spanning 80 countries - for sale at any time. The site also features an extensive franchise directory as well as a business valuation tool. Please visit www.bizbuysell.com.

BizBuySell Local Annual Insight Report

San Antonio, TX

Annual 2008



BizBuySell Recently Sold Listings - Comparables Data



Median Asking Avg. Sale/Ask Avg. Multiple of Avg. Multiple of Cash

Business Type N Median Sale Price Price Ratio Median Revenue Revenue Median Cash Flow Flow Summary - San Antonio, TX, 2008

Retail - Restaurant 2 $ 440,000 $ 463,500 0.92 $ 599,500 0.63 $ 123,500 3.22 BizBuySell analyzed 33 closed transactions in this market in 2008. Businesses

Retail - Other 14 $ 237,500 $ 262,000 0.89 $ 691,000 0.50 $ 112,500 2.58 sold for a median sale price of $280,000. On average, this is 0.89 of the ask

Service 13 $ 280,000 $ 325,000 0.93 $ 500,000 0.61 $ 124,680 2.54 price. These businesses had a median revenue of $635,000 and a median cash

Manufacturing 1 $ 2,900,000 $ 2,900,000 1.00 $ 1,686,361 1.72 $ 311,189 9.32 flow of $120,448. Business buyers paid on average 0.58 times revenue and

Other 3 $ 350,000 $ 497,650 0.68 $ 1,449,392 0.40 $ 320,000 1.49 2.71 times cash flow.

Total 33 $ 280,000 $ 325,000 0.89 $ 635,000 0.58 $ 120,448 2.71





Breakdown of Sold Listings by Sale Price



Price Number % of Total

$0 - $50,000 4 12%

$50,001 - $100,000 1 3%

$100,001 - $200,000 8 24%

$200,001 - $300,000 5 15%

$300,001 - $500,000 5 15%

$500,001 - $1,000,000 6 18%

$1,000,001+ 4 12%









Closed Transactions Examples*

Business Revenue Cash Flow

Business Type Subtype County Ad Headline Sale Price Asking Price Sale/Ask Ratio Revenue Multiple Cash Flow Multiple

Retail - Restaurant Restaurants Bexar Quiznos Franchise For Sale!!!! Best Buy For The Money!!!!! $ 130,000 $ 147,000 0.88 $ 299,000 0.43 $ 49,000 2.65

Retail - Other Other Eating & Drinking Places Medina Mexican Food Restaurant $ 300,000 $ 375,000 0.80 $ 222,000 1.35 $ 66,934 4.48

Service Other Personal Services Bexar Busy Tanning Salon-North Central San Antonio $ 150,000 $ 150,000 1.00 $ 215,114 0.70 $ 32,887 4.56

Other Internet-General Internet Bexar Established Online Coupon & Dining Guide Business $ 25,000 $ 50,000 0.50 $ 56,000 0.45 $ 28,000 0.89

Retail - Restaurant Restaurants Guadalupe Outstanding steakhouse restaurant established 30 years $ 750,000 $ 780,000 0.96 $ 900,000 0.83 $ 198,000 3.79

Service Landscaping & Yard Services Bexar Decorative Landscape Curbing $ 30,000 $ 32,000 0.94 $ 88,600 0.34 $ 8,580 3.50

Other Construction-Building Comal Hvac $ 350,000 $ 497,650 0.70 $ 1,449,392 0.24 $ 365,462 0.96

Retail - Other Bars/Taverns Bexar San Antonio Bar, w/Karaoke $ 125,000 $ 125,000 1.00 $ 269,900 0.46 $ 37,626 3.32

Service Other Personal Services Bexar Personal training studio $ 20,000 $ 20,000 1.00 $ 44,000 0.45 $ 25,000 0.80

Service Other Business Services Bexar Very Profitable Pressure Cleaning Business $ 1,700,000 $ 1,725,000 0.99 $ 1,464,949 1.16 $ 467,094 3.64

Retail - Other Convenience Stores Bexar Convience store w/gas $ 80,000 $ 99,000 0.81 $ 500,000 0.16 $ 90,000 0.89

Service Other Business Services Bexar Office Filing Systems & Office Furniture-75% Seller Financing $ 420,000 $ 420,000 1.00 $ 1,349,129 0.31 $ 205,497 2.04

Retail - Other Other Food Stores Bexar Meat processing, wholesale, retail $ 1,000,000 $ 1,250,000 0.80 $ 3,293,013 0.30 $ 381,355 2.62

Service Drycleaning/Laundry Services Bexar Great cash producing Dry Cleaners in NE San Antonio $ 280,000 $ 325,000 0.86 $ 500,000 0.56 $ 200,000 1.40

Service Other Business Services Bexar Booming Administrative Services Business For Sale in San Antonio $ 900,000 $ 1,000,000 0.90 $ 960,000 0.94 $ 295,000 3.05

Retail - Other Other Eating & Drinking Places Bexar Bakery/Deli $ 45,000 $ 50,000 0.90 $ 175,000 0.26 $ 45,000 1.00

Service Miscellaneous Repair Services Bexar Well Established and Profitable Service Business $ 325,900 $ 325,900 1.00 $ 912,213 0.36 $ 120,448 2.71

Retail - Other Bars/Taverns Bexar Bar@Downtown San Antonio,river walk!!!!!!!!!!!!!!!! $ 250,000 $ 299,000 0.84 $ 556,000 0.45 $ 120,000 2.08

Service Drycleaning/Laundry Services Bexar Coin-Op & Full Service Laundromat $ 250,000 $ 275,000 0.91 $ 295,000 0.85 $ 82,400 3.03

Retail - Other Convenience Stores Bexar San Antonio Interstate Highway Convenience Store $ 425,000 $ 425,000 1.00 $ 1,000,000 0.43 $ 160,000 2.66

*Closed transactions are self-reported to BizBuySell by the representing brokers. Not all closed transactions are reported to BizBuySell and BizBuySell does not collect data from for-sale-by-owner transactions. Some transactions are excluded from example transactions due to confidentiality.





Counties included: Atascosa, Bandera, Bexar, Comal, Guadalupe, Kendall, Medina, Wilson



Note: Due to Closed Transaction collection and calculation methodology change in Q3 2011, adjustment factors must be applied to draw a direct comparison between Closed Transaction data from this quarter/year and quarters/years subsequent to Q2 2011.

For help with such adjustment contact the BizBuySell team. Active Listings data is not impacted by the methodology change so direct comparison of that data requires no adjustment.”



BizBuySell is the Internet's largest business for sale marketplace. Since 1995, BizBuySell has offered tools that make it easy for business owners and brokers to sell a business, and potential buyers to find the business of their dreams. BizBuySell lists over

45,000 businesses - spanning 80 countries - for sale at any time. The site also features an extensive franchise directory as well as a business valuation tool. Please visit www.bizbuysell.com.

BizBuySell Local Quarterly Insight Report

San Antonio, TX

Q4 2008



BizBuySell Active Listings - Business for Sale Data



Median Asking Avg. Multiple of Avg. Multiple of

Business Type N Sale Price Median Revenue Revenue Median Cash Flow Cash Flow Summary - San Antonio, TX, Q4 2008

Retail - Restaurant 23 $ 175,000 $ 533,472 0.60 $ 72,000 4.13 The median asking price for businesses for sale in this market on BizBuySell was $307,500.

Retail - Other 35 $ 249,000 $ 319,718 1.03 $ 85,591 3.80 These businesses had a median revenue of $464,500 and a median cash flow of $95,000.

Service 53 $ 435,000 $ 370,000 1.67 $ 105,000 4.57 Owners asked for, on average, a revenue multiple of 1.21 and a cash flow multiple of 4.23.

Manufacturing 9 $ 399,000 $ 653,000 1.46 $ 100,979 5.46

Other 10 $ 920,000 $ 1,325,993 0.60 $ 331,990 3.03

Total 130 $ 307,500 $ 464,500 1.21 $ 95,000 4.23 BizBuySell analyzed 11 closed transactions in this market in Q4 2008. Businesses sold for a

median sale price of $300,000. On average, this is 0.91 of the ask price. These businesses

Breakdown of Active Listings by Asking Price had a median revenue of $500,000 and a median cash flow of $125,402. Business buyers

Price Number % of Total paid on average 0.81 times revenue and 3.71 times cash flow.

$0 - $50,000 10 8%

$50,001 - $100,000 16 12%

$100,001 - $200,000 28 22%

$200,001 - $300,000 11 8%

$300,001 - $500,000 15 12%

$500,001 - $1,000,000 20 15%

$1,000,001+ 30 23%





Recently Closed Transactions Examples*

Business Total Closed Revenue Cash Flow

Business Type Subtype County Ad Headline Transactions Sale Price Asking Price Sale/Ask Ratio Revenue Multiple Cash Flow Multiple

Summary data for all closed transactions 11 $ 300,000 $ 375,000 0.91 $ 500,000 0.81 $ 125,402 3.71



Retail - Other Other Eating & Drinking Places Medina Mexican Food Restaurant $ 300,000 $ 375,000 0.80 $ 222,000 1.35 $ 66,934 4.48

Service Other Personal Services Bexar Busy Tanning Salon-North Central San Antonio $ 150,000 $ 150,000 1.00 $ 215,114 0.70 $ 32,887 4.56

Other Internet-General Internet Bexar Established Online Coupon & Dining Guide Business $ 25,000 $ 50,000 0.50 $ 56,000 0.45 $ 28,000 0.89

Service Landscaping & Yard Services Bexar Decorative Landscape Curbing $ 30,000 $ 32,000 0.94 $ 88,600 0.34 $ 8,580 3.50

Service Other Personal Services Bexar Personal training studio $ 20,000 $ 20,000 1.00 $ 44,000 0.45 $ 25,000 0.80

Service Other Business Services Bexar Very Profitable Pressure Cleaning Business $ 1,700,000 $ 1,725,000 0.99 $ 1,464,949 1.16 $ 467,094 3.64

Service Other Business Services Bexar Office Filing Systems & Office Furniture-75% Seller Financing $ 420,000 $ 420,000 1.00 $ 1,349,129 0.31 $ 205,497 2.04

Service Drycleaning/Laundry Services Bexar Great cash producing Dry Cleaners in NE San Antonio $ 280,000 $ 325,000 0.86 $ 500,000 0.56 $ 200,000 1.40

Service Other Business Services Bexar Booming Administrative Services Business For Sale in San Antonio $ 900,000 $ 1,000,000 0.90 $ 960,000 0.94 $ 295,000 3.05

*Closed transactions are self-reported to BizBuySell by the representing brokers. Not all closed transactions are reported to BizBuySell and BizBuySell does not collect data from for-sale-by-owner transactions. Some transactions are excluded from example transactions due to confidentiality.





Counties included: Atascosa, Bandera, Bexar, Comal, Guadalupe, Kendall, Medina, Wilson



Note: Due to Closed Transaction collection and calculation methodology change in Q3 2011, adjustment factors must be applied to draw a direct comparison between Closed Transaction data from this quarter/year and quarters/years subsequent to Q2 2011. For

help with such adjustment contact the BizBuySell team. Active Listings data is not impacted by the methodology change so direct comparison of that data requires no adjustment.”



BizBuySell is the Internet's largest business for sale marketplace. Since 1995, BizBuySell has offered tools that make it easy for business owners and brokers to sell a business, and potential buyers to find the business of their dreams. BizBuySell lists over

45,000 businesses - spanning 80 countries - for sale at any time. The site also features an extensive franchise directory as well as a business valuation tool. Please visit www.bizbuysell.com.

BizBuySell Local Quarterly Insight Report

San Antonio, TX

Q3 2008



BizBuySell Active Listings - Business for Sale Data



Median Asking Avg. Multiple of Avg. Multiple of

Business Type N Sale Price Median Revenue Revenue Median Cash Flow Cash Flow Summary - San Antonio, TX, Q3 2008

Retail - Restaurant 22 $ 174,500 $ 488,359 0.61 $ 66,451 4.00 The median asking price for businesses for sale in this market on BizBuySell was $320,000.

Retail - Other 41 $ 225,000 $ 337,250 0.86 $ 70,000 3.79 These businesses had a median revenue of $492,336 and a median cash flow of $100,000.

Service 59 $ 330,000 $ 492,336 1.62 $ 108,840 4.16 Owners asked for, on average, a revenue multiple of 1.15 and a cash flow multiple of 4.04.

Manufacturing 7 $ 399,000 $ 716,000 1.62 $ 106,000 6.22

Other 16 $ 800,000 $ 1,288,049 0.65 $ 307,500 3.38

Total 145 $ 320,000 $ 492,336 1.15 $ 100,000 4.04 Brokers reported 7 closed transactions in this market to BizBuySell in Q3 2008. Businesses

sold for a median sale price of $200,000. On average, this is 0.87 of the ask price. These

Breakdown of Active Listings by Asking Price businesses had a median revenue of $500,000 and a median cash flow of $99,312. Business

Price Number % of Total buyers paid on average 0.38 times revenue and 2.02 times cash flow.

$0 - $50,000 8 6%

$50,001 - $100,000 17 12%

$100,001 - $200,000 30 21%

$200,001 - $300,000 16 11%

$300,001 - $500,000 24 17%

$500,001 - $1,000,000 19 13%

$1,000,001+ 31 21%





Recently Closed Transactions Examples*

Business Total Closed Revenue Cash Flow

Business Type Subtype County Ad Headline Transactions Sale Price Asking Price Sale/Ask Ratio Revenue Multiple Cash Flow Multiple

Summary data for all closed transactions 7 $ 200,000 $ 209,000 0.87 $ 500,000 0.38 $ 99,312 2.02



Retail - Other Bars/Taverns Bexar San Antonio Bar, w/Karaoke $ 125,000 $ 125,000 1.00 $ 269,900 0.46 $ 37,626 3.32

Service Miscellaneous Repair Services Bexar Well Established and Profitable Service Business $ 325,900 $ 325,900 1.00 $ 912,213 0.36 $ 120,448 2.71

Other Construction-Building Comal Hvac $ 350,000 $ 497,650 0.70 $ 1,449,392 0.24 $ 365,462 0.96

Service Drycleaning/Laundry Services Bexar Coin-Op & Full Service Laundromat $ 250,000 $ 275,000 0.91 $ 295,000 0.85 $ 82,400 3.03

Retail - Other Convenience Stores Bexar Convience store w/gas $ 80,000 $ 99,000 0.81 $ 500,000 0.16 $ 90,000 0.89

Service Auto Repair, Parts & Services Bexar Profitable Auto Repair Service $ 200,000 $ 209,000 0.96 $ 492,336 0.41 $ 99,312 2.01

*Closed transactions are self-reported to BizBuySell by the representing brokers. Not all closed transactions are reported to BizBuySell and BizBuySell does not collect data from for-sale-by-owner transactions. Some transactions are excluded from example transactions due to confidentiality.





Counties included: Atascosa, Bandera, Bexar, Comal, Guadalupe, Kendall, Medina, Wilson



Note: Due to Closed Transaction collection and calculation methodology change in Q3 2011, adjustment factors must be applied to draw a direct comparison between Closed Transaction data from this quarter/year and quarters/years subsequent to Q2 2011. For

help with such adjustment contact the BizBuySell team. Active Listings data is not impacted by the methodology change so direct comparison of that data requires no adjustment.”



BizBuySell is the Internet's largest business for sale marketplace. Since 1995, BizBuySell has offered tools that make it easy for business owners and brokers to sell a business, and potential buyers to find the business of their dreams. BizBuySell lists over

45,000 businesses - spanning 80 countries - for sale at any time. The site also features an extensive franchise directory as well as a business valuation tool. Please visit www.bizbuysell.com.

BizBuySell Local Quarterly Insight Report

San Antonio, TX

Q2 2008



BizBuySell Active Listings - Business for Sale Data



Median Asking Avg. Multiple of Avg. Multiple of

Business Type N Sale Price Median Revenue Revenue Median Cash Flow Cash Flow Summary - San Antonio, TX, Q2 2008

Retail - Restaurant 21 $ 199,000 $ 575,000 0.57 $ 80,000 4.14 The median asking price for businesses for sale in this market on BizBuySell was $317,500.

Retail - Other 50 $ 237,000 $ 309,859 0.95 $ 70,000 3.68 These businesses had a median revenue of $447,500 and a median cash flow of $99,406.

Service 59 $ 325,900 $ 364,180 1.62 $ 105,000 4.11 Owners asked for, on average, a revenue multiple of 1.15 and a cash flow multiple of 3.98.

Manufacturing 7 $ 2,900,000 $ 1,686,361 1.39 $ 311,189 6.35

Other 15 $ 750,000 $ 1,150,000 0.70 $ 292,959 3.16

Total 152 $ 317,500 $ 447,500 1.15 $ 99,406 3.98 Brokers reported 10 closed transactions in this market to BizBuySell in Q2 2008. Businesses

sold for a median sale price of $617,500. On average, this is 0.88 of the ask price. These

Breakdown of Active Listings by Asking Price businesses had a median revenue of $767,500 and a median cash flow of $196,500. Business

Price Number % of Total buyers paid on average 0.51 times revenue and 2.50 times cash flow.

$0 - $50,000 8 5%

$50,001 - $100,000 21 14%

$100,001 - $200,000 30 20%

$200,001 - $300,000 16 11%

$300,001 - $500,000 23 15%

$500,001 - $1,000,000 27 18%

$1,000,001+ 27 18%





Recently Closed Transactions Examples*

Business Total Closed Revenue Cash Flow

Business Type Subtype County Ad Headline Transactions Sale Price Asking Price Sale/Ask Ratio Revenue Multiple Cash Flow Multiple

Summary data for all closed transactions 10 $ 617,500 $ 665,000 0.88 $ 767,500 0.51 $ 196,500 2.50



Retail - Restaurant Restaurants Bexar Quiznos Franchise For Sale!!!! Best Buy For The Money!!!!! $ 130,000 $ 147,000 0.88 $ 299,000 0.43 $ 49,000 2.65

Retail - Other Other Food Stores Bexar Meat processing, wholesale, retail $ 1,000,000 $ 1,250,000 0.80 $ 3,293,013 0.30 $ 381,355 2.62

Service Other Personal Services Bexar Premier Wedding Photography Business, San Antonio/Austin $ 135,000 $ 160,000 0.84 $ 218,152 0.62 $ 124,680 1.08

Retail - Restaurant Restaurants Guadalupe Outstanding steakhouse restaurant established 30 years $ 750,000 $ 780,000 0.96 $ 900,000 0.83 $ 198,000 3.79

Service Drycleaning/Laundry Services Bexar Very Profitable Dry Cleaners in North Central San Antonio $ 485,000 $ 550,000 0.88 $ 635,000 0.76 $ 195,000 2.49

Retail - Other Other Eating & Drinking Places Bexar Bakery/Deli $ 45,000 $ 50,000 0.90 $ 175,000 0.26 $ 45,000 1.00

Service Other Business Services Bexar DOCUMENT MANAGEMENT COMPANY $ 1,200,000 $ 1,500,000 0.80 $ 2,700,000 0.44 $ 447,000 2.68

Retail - Other Bars/Taverns Bexar Bar@Downtown San Antonio,river walk!!!!!!!!!!!!!!!! $ 250,000 $ 299,000 0.84 $ 556,000 0.45 $ 120,000 2.08

*Closed transactions are self-reported to BizBuySell by the representing brokers. Not all closed transactions are reported to BizBuySell and BizBuySell does not collect data from for-sale-by-owner transactions. Some transactions are excluded from example transactions due to confidentiality.





Counties included: Atascosa, Bandera, Bexar, Comal, Guadalupe, Kendall, Medina, Wilson



Note: Due to Closed Transaction collection and calculation methodology change in Q3 2011, adjustment factors must be applied to draw a direct comparison between Closed Transaction data from this quarter/year and quarters/years subsequent to Q2 2011. For

help with such adjustment contact the BizBuySell team. Active Listings data is not impacted by the methodology change so direct comparison of that data requires no adjustment.”



BizBuySell is the Internet's largest business for sale marketplace. Since 1995, BizBuySell has offered tools that make it easy for business owners and brokers to sell a business, and potential buyers to find the business of their dreams. BizBuySell lists over

45,000 businesses - spanning 80 countries - for sale at any time. The site also features an extensive franchise directory as well as a business valuation tool. Please visit www.bizbuysell.com.

BizBuySell Local Quarterly Insight Report

San Antonio, TX

Q1 2008



BizBuySell Active Listings - Business for Sale Data



Median Asking Avg. Multiple of Avg. Multiple of

Business Type N Sale Price Median Revenue Revenue Median Cash Flow Cash Flow Summary - San Antonio, TX, Q1 2008

Retail - Restaurant 22 $ 199,500 $ 550,000 0.61 $ 78,850 4.01 The median asking price for businesses for sale in this market on BizBuySell was $275,000.

Retail - Other 60 $ 225,000 $ 319,718 0.79 $ 73,530 3.60 These businesses had a median revenue of $407,664 and a median cash flow of $90,500.

Service 51 $ 300,000 $ 339,017 1.54 $ 100,000 3.81 Owners asked for, on average, a revenue multiple of 1.04 and a cash flow multiple of 3.82.

Manufacturing 5 $ 2,900,000 $ 1,686,361 1.82 $ 311,189 8.06

Other 16 $ 623,825 $ 905,766 0.72 $ 181,599 3.07

Total 154 $ 275,000 $ 407,664 1.04 $ 90,500 3.82 Brokers reported 8 closed transactions in this market to BizBuySell in Q1 2008. Businesses

sold for a median sale price of $237,500. On average, this is 0.92 of the ask price. These

Breakdown of Active Listings by Asking Price businesses had a median revenue of $825,000 and a median cash flow of $117,500. Business

Price Number % of Total buyers paid on average 0.48 times revenue and 2.04 times cash flow.

$0 - $50,000 9 6%

$50,001 - $100,000 24 16%

$100,001 - $200,000 35 23%

$200,001 - $300,000 18 12%

$300,001 - $500,000 22 14%

$500,001 - $1,000,000 22 14%

$1,000,001+ 24 16%





Recently Closed Transactions Examples*

Business Total Closed Revenue Cash Flow

Business Type Subtype County Ad Headline Transactions Sale Price Asking Price Sale/Ask Ratio Revenue Multiple Cash Flow Multiple

Summary data for all closed transactions 8 $ 237,500 $ 262,000 0.92 $ 825,000 0.48 $ 117,500 2.04



Retail - Restaurant Restaurants Guadalupe Outstanding steakhouse restaurant established 30 years $ 750,000 $ 780,000 0.96 $ 900,000 0.83 $ 198,000 3.79

Retail - Other Other Eating & Drinking Places Bexar Bakery/Deli $ 45,000 $ 50,000 0.90 $ 175,000 0.26 $ 45,000 1.00

Retail - Other Bars/Taverns Bexar Bar@Downtown San Antonio,river walk!!!!!!!!!!!!!!!! $ 250,000 $ 299,000 0.84 $ 556,000 0.45 $ 120,000 2.08

Retail - Other Convenience Stores Bexar San Antonio Interstate Highway Convenience Store $ 425,000 $ 425,000 1.00 $ 1,000,000 0.43 $ 160,000 2.66

Retail - Other Convenience Stores Bexar San Antonio Convenience Store, Gas & Car Wash, with Lease $ 225,000 $ 225,000 1.00 $ 750,000 0.30 $ 115,000 1.96

Retail - Other Marine Dealers & Equipment Atascosa Leading Motorcycle & Marine Dealership $ 595,000 $ 750,000 0.79 $ 3,000,000 0.20 $ 300,000 1.98

Retail - Other Convenience Stores Bexar Convience store-no gas $ 140,000 $ 149,000 0.94 $ 110,000 1.27 $ 100,000 1.40

Retail - Other Convenience Stores Bexar Convenience store w/ gas $ 162,000 $ 179,000 0.91 $ 1,200,000 0.14 $ 110,000 1.47

*Closed transactions are self-reported to BizBuySell by the representing brokers. Not all closed transactions are reported to BizBuySell and BizBuySell does not collect data from for-sale-by-owner transactions. Some transactions are excluded from example transactions due to confidentiality.





Counties included: Atascosa, Bandera, Bexar, Comal, Guadalupe, Kendall, Medina, Wilson



Note: Due to Closed Transaction collection and calculation methodology change in Q3 2011, adjustment factors must be applied to draw a direct comparison between Closed Transaction data from this quarter/year and quarters/years subsequent to Q2 2011. For

help with such adjustment contact the BizBuySell team. Active Listings data is not impacted by the methodology change so direct comparison of that data requires no adjustment.”



BizBuySell is the Internet's largest business for sale marketplace. Since 1995, BizBuySell has offered tools that make it easy for business owners and brokers to sell a business, and potential buyers to find the business of their dreams. BizBuySell lists over

45,000 businesses - spanning 80 countries - for sale at any time. The site also features an extensive franchise directory as well as a business valuation tool. Please visit www.bizbuysell.com.

BizBuySell Local Quarterly Insight Report

San Antonio, TX

Q4 2007



BizBuySell Active Listings - Business for Sale Data



Median Asking Avg. Multiple of Avg. Multiple of

Business Type N Sale Price Median Revenue Revenue Median Cash Flow Cash Flow Summary - San Antonio, TX, Q4 2007

Retail - Restaurant 23 $ 199,000 $ 520,325 0.59 $ 77,700 3.89 The median asking price for businesses for sale in this market on BizBuySell was $299,000.

Retail - Other 60 $ 249,000 $ 378,000 0.68 $ 72,979 3.51 These businesses had a median revenue of $480,000 and a median cash flow of $96,500.

Service 55 $ 300,000 $ 381,940 1.55 $ 105,000 4.19 Owners asked for, on average, a revenue multiple of 1.01 and a cash flow multiple of 3.91.

Manufacturing 7 $ 2,750,000 $ 1,686,361 1.71 $ 311,189 7.34

Other 21 $ 497,650 $ 903,060 0.74 $ 177,719 3.18

Total 166 $ 299,000 $ 480,000 1.01 $ 96,500 3.91 Brokers reported 5 closed transactions in this market to BizBuySell in Q4 2007. Businesses

sold for a median sale price of $170,000. On average, this is 0.94 of the ask price. These

Breakdown of Active Listings by Asking Price businesses had a median revenue of $325,000 and a median cash flow of $72,000. Business

Price Number % of Total buyers paid on average 0.59 times revenue and 2.72 times cash flow.

$0 - $50,000 7 4%

$50,001 - $100,000 28 17%

$100,001 - $200,000 34 20%

$200,001 - $300,000 23 14%

$300,001 - $500,000 23 14%

$500,001 - $1,000,000 18 11%

$1,000,001+ 33 20%





Recently Closed Transactions Examples*

Business Total Closed Revenue Cash Flow

Business Type Subtype County Ad Headline Transactions Sale Price Asking Price Sale/Ask Ratio Revenue Multiple Cash Flow Multiple

Summary data for all closed transactions 5 $ 170,000 $ 189,000 0.94 $ 325,000 0.59 $ 72,000 2.72



Retail - Restaurant Restaurants Bexar Church's chicken franchise $ 275,000 $ 299,000 0.92 $ 675,000 0.41 $ 72,000 3.82

Retail - Other Bars/Taverns Bexar Bar/ with real estate $ 325,000 $ 325,000 1.00 $ 325,000 1.00 $ 100,000 3.25

Retail - Other Convenience Stores Bexar Convience store $ 170,000 $ 189,000 0.90 $ 780,000 0.22 $ 100,000 1.70

Retail - Other Other Eating & Drinking Places Bexar Ice Cream Store, Mall Location $ 165,000 $ 175,000 0.94 $ 218,000 0.76 $ 65,800 2.51

Retail - Other Apparel and Accessory Stores Bexar Retail Stores -- Mens Apparel $ 140,000 $ 150,000 0.93 $ 250,000 0.56 $ 60,000 2.33

*Closed transactions are self-reported to BizBuySell by the representing brokers. Not all closed transactions are reported to BizBuySell and BizBuySell does not collect data from for-sale-by-owner transactions. Some transactions are excluded from example transactions due to confidentiality.





Counties included: Atascosa, Bandera, Bexar, Comal, Guadalupe, Kendall, Medina, Wilson



Note: Due to Closed Transaction collection and calculation methodology change in Q3 2011, adjustment factors must be applied to draw a direct comparison between Closed Transaction data from this quarter/year and quarters/years subsequent to Q2 2011. For

help with such adjustment contact the BizBuySell team. Active Listings data is not impacted by the methodology change so direct comparison of that data requires no adjustment.”



BizBuySell is the Internet's largest business for sale marketplace. Since 1995, BizBuySell has offered tools that make it easy for business owners and brokers to sell a business, and potential buyers to find the business of their dreams. BizBuySell lists over

45,000 businesses - spanning 80 countries - for sale at any time. The site also features an extensive franchise directory as well as a business valuation tool. Please visit www.bizbuysell.com.

BizBuySell Local Quarterly Insight Report

San Antonio, TX

Q3 2007



BizBuySell Active Listings - Business for Sale Data



Median Asking Avg. Multiple of Avg. Multiple of

Business Type N Sale Price Median Revenue Revenue Median Cash Flow Cash Flow Summary - San Antonio, TX, Q3 2007

Retail - Restaurant 29 $ 199,000 $ 470,000 0.57 $ 63,500 3.53 The median asking price for businesses for sale in this market on BizBuySell was $299,000.

Retail - Other 50 $ 294,000 $ 480,000 0.68 $ 90,000 3.71 These businesses had a median revenue of $470,000 and a median cash flow of $99,016.

Service 55 $ 310,000 $ 339,017 1.51 $ 125,000 3.83 Owners asked for, on average, a revenue multiple of 1.07 and a cash flow multiple of 3.94.

Manufacturing 8 $ 960,000 $ 575,000 1.74 $ 163,191 6.39

Other 15 $ 1,200,000 $ 1,107,035 1.35 $ 185,478 4.60

Total 157 $ 299,000 $ 470,000 1.07 $ 99,016 3.94 Brokers reported 4 closed transactions in this market to BizBuySell in Q3 2007. Businesses

sold for a median sale price of $185,000. On average, this is 0.79 of the ask price. These

Breakdown of Active Listings by Asking Price businesses had a median revenue of $364,000 and a median cash flow of $62,500. Business

Price Number % of Total buyers paid on average 0.47 times revenue and 2.58 times cash flow.

$0 - $50,000 7 4%

$50,001 - $100,000 26 17%

$100,001 - $200,000 31 20%

$200,001 - $300,000 18 11%

$300,001 - $500,000 23 15%

$500,001 - $1,000,000 21 13%

$1,000,001+ 31 20%





Recently Closed Transactions Examples*

Business Total Closed Revenue Cash Flow

Business Type Subtype County Ad Headline Transactions Sale Price Asking Price Sale/Ask Ratio Revenue Multiple Cash Flow Multiple

Summary data for all closed transactions 4 $ 185,000 $ 207,000 0.79 $ 364,000 0.47 $ 62,500 2.58



Retail - Restaurant Restaurants Bexar Ice Cream & Fruit Franchise Restaurant $ 45,000 $ 75,000 0.60 $ 220,000 0.20 $ 31,000 1.45

Retail - Other Liquor Stores Bexar North San Antonio Liquor Store, w/Inventory Included $ 285,000 $ 315,000 0.90 $ 508,000 0.56 $ 90,000 3.17

Retail - Restaurant Restaurants Bexar Casual Dining Restaurant, serves Breakfast & Lunch Only $ 85,000 $ 99,000 0.86 $ 211,000 0.40 $ 35,000 2.43

*Closed transactions are self-reported to BizBuySell by the representing brokers. Not all closed transactions are reported to BizBuySell and BizBuySell does not collect data from for-sale-by-owner transactions. Some transactions are excluded from example transactions due to confidentiality.





Counties included: Atascosa, Bandera, Bexar, Comal, Guadalupe, Kendall, Medina, Wilson



Note: Due to Closed Transaction collection and calculation methodology change in Q3 2011, adjustment factors must be applied to draw a direct comparison between Closed Transaction data from this quarter/year and quarters/years subsequent to Q2 2011. For

help with such adjustment contact the BizBuySell team. Active Listings data is not impacted by the methodology change so direct comparison of that data requires no adjustment.”



BizBuySell is the Internet's largest business for sale marketplace. Since 1995, BizBuySell has offered tools that make it easy for business owners and brokers to sell a business, and potential buyers to find the business of their dreams. BizBuySell lists over

45,000 businesses - spanning 80 countries - for sale at any time. The site also features an extensive franchise directory as well as a business valuation tool. Please visit www.bizbuysell.com.

BizBuySell Local Quarterly Insight Report

San Antonio, TX

Q2 2007



BizBuySell Active Listings - Business for Sale Data



Median Asking Avg. Multiple of Avg. Multiple of

Business Type N Sale Price Median Revenue Revenue Median Cash Flow Cash Flow Summary - San Antonio, TX, Q2 2007

Retail - Restaurant 22 $ 246,500 $ 525,000 0.73 $ 76,350 4.25 The median asking price for businesses for sale in this market on BizBuySell was $312,500.

Retail - Other 36 $ 307,000 $ 491,541 1.04 $ 83,500 5.03 These businesses had a median revenue of $460,677 and a median cash flow of $99,508.

Service 50 $ 255,000 $ 308,922 1.56 $ 119,000 3.74 Owners asked for, on average, a revenue multiple of 1.24 and a cash flow multiple of 4.45.

Manufacturing 7 $ 199,000 $ 236,000 1.23 $ 51,000 5.65

Other 13 $ 850,000 $ 1,200,000 1.38 $ 177,719 5.27

Total 128 $ 312,500 $ 460,677 1.24 $ 99,508 4.45 Brokers reported 9 closed transactions in this market to BizBuySell in Q2 2007. Businesses

sold for a median sale price of $194,000. On average, this is 0.84 of the ask price. These

Breakdown of Active Listings by Asking Price businesses had a median revenue of $424,700 and a median cash flow of $53,000. Business

Price Number % of Total buyers paid on average 0.64 times revenue and 3.18 times cash flow.

$0 - $50,000 6 5%

$50,001 - $100,000 19 15%

$100,001 - $200,000 27 21%

$200,001 - $300,000 11 9%

$300,001 - $500,000 21 16%

$500,001 - $1,000,000 18 14%

$1,000,001+ 26 20%





Recently Closed Transactions Examples*

Business Total Closed Revenue Cash Flow

Business Type Subtype County Ad Headline Transactions Sale Price Asking Price Sale/Ask Ratio Revenue Multiple Cash Flow Multiple

Summary data for all closed transactions 9 $ 194,000 $ 218,000 0.84 $ 424,700 0.64 $ 53,000 3.18



Retail - Other Liquor Stores Bexar Liquor Store in Prime Location $ 239,000 $ 298,000 0.80 $ 688,441 0.35 $ 127,258 1.88

Service Educational Services Bexar New Internet International Publishing Company With Tremendous Opportun $ 28,000 $ 40,000 0.70 $ 13,869 2.02 $ 9,074 3.09

Manufacturing Printing, Publishing Bexar Independent Sign & Banner Production Company $ 137,500 $ 149,000 0.92 $ 211,000 0.65 $ 46,500 2.96

Retail - Restaurant Restaurants Bexar Profitable Quizno's Sub Restaurant $ 208,000 $ 218,000 0.95 $ 435,000 0.48 $ 90,000 2.31

Retail - Other Liquor Stores Bexar Modern Liquor Store in Booming Part of San Antonio $ 194,000 $ 289,000 0.67 $ 424,700 0.46 $ 28,700 6.76

Service Beauty Salons, Barber Shops Bexar Profitable Med Spa & Day Spa $ 80,000 $ 115,000 0.70 $ 127,000 0.63 $ 53,000 1.51

Retail - Other Miscellaneous Retail Bexar Profitable UPS Stores $ 210,000 $ 249,000 0.84 $ 807,259 0.26 $ 74,370 2.82

Retail - Other Bars/Taverns Bexar Unique Wine Bar & Restaurant in North San Antonio $ 55,000 $ 55,000 1.00 $ 130,000 0.42 $ 28,000 1.96

*Closed transactions are self-reported to BizBuySell by the representing brokers. Not all closed transactions are reported to BizBuySell and BizBuySell does not collect data from for-sale-by-owner transactions. Some transactions are excluded from example transactions due to confidentiality.





Counties included: Atascosa, Bandera, Bexar, Comal, Guadalupe, Kendall, Medina, Wilson



Note: Due to Closed Transaction collection and calculation methodology change in Q3 2011, adjustment factors must be applied to draw a direct comparison between Closed Transaction data from this quarter/year and quarters/years subsequent to Q2 2011. For

help with such adjustment contact the BizBuySell team. Active Listings data is not impacted by the methodology change so direct comparison of that data requires no adjustment.”



BizBuySell is the Internet's largest business for sale marketplace. Since 1995, BizBuySell has offered tools that make it easy for business owners and brokers to sell a business, and potential buyers to find the business of their dreams. BizBuySell lists over

45,000 businesses - spanning 80 countries - for sale at any time. The site also features an extensive franchise directory as well as a business valuation tool. Please visit www.bizbuysell.com.

BizBuySell Local Quarterly Insight Report

San Antonio, TX

Q1 2007



BizBuySell Active Listings - Business for Sale Data



Median Asking Avg. Multiple of Avg. Multiple of

Business Type N Sale Price Median Revenue Revenue Median Cash Flow Cash Flow Summary - San Antonio, TX, Q1 2007

Retail - Restaurant 13 $ 600,000 $ 1,200,000 0.81 $ 113,000 5.14 The median asking price for businesses for sale in this market on BizBuySell was $345,000.

Retail - Other 18 $ 168,750 $ 490,000 0.66 $ 73,509 3.17 These businesses had a median revenue of $528,300 and a median cash flow of $106,000.

Service 28 $ 337,000 $ 375,970 1.78 $ 108,000 4.57 Owners asked for, on average, a revenue multiple of 1.20 and a cash flow multiple of 4.29.

Manufacturing 3 $ 325,000 $ 272,000 1.33 $ 106,000 4.33

Other 9 $ 850,000 $ 1,153,860 1.01 $ 291,643 4.41

Total 71 $ 345,000 $ 528,300 1.20 $ 106,000 4.29 Brokers reported 3 closed transactions in this market to BizBuySell in Q1 2007. Businesses

sold for a median sale price of $80,000. On average, this is 0.70 of the ask price. These

Breakdown of Active Listings by Asking Price businesses had a median revenue of $272,991 and a median cash flow of $53,000. Business

Price Number % of Total buyers paid on average 0.46 times revenue and 2.07 times cash flow.

$0 - $50,000 4 6%

$50,001 - $100,000 10 14%

$100,001 - $200,000 14 20%

$200,001 - $300,000 2 3%

$300,001 - $500,000 15 21%

$500,001 - $1,000,000 9 13%

$1,000,001+ 17 24%





Recently Closed Transactions Examples*

Business Total Closed Revenue Cash Flow

Business Type Subtype County Ad Headline Transactions Sale Price Asking Price Sale/Ask Ratio Revenue Multiple Cash Flow Multiple

Summary data for all closed transactions 3 $ 80,000 $ 150,000 0.70 $ 272,991 0.46 $ 53,000 2.07



Service Beauty Salons, Barber Shops Bexar Profitable Med Spa & Day Spa $ 80,000 $ 115,000 0.70 $ 127,000 0.63 $ 53,000 1.51

Other Wholesale-Nondurable Goods Bexar Embroidery Business $ 70,000 $ 150,000 0.47 $ 272,991 0.26 $ 28,000 2.50

Service Landscaping & Yard Services Bexar Landscaping & Lawn Maintenance Business $ 330,000 $ 349,000 0.95 $ 675,000 0.49 $ 150,000 2.20

*Closed transactions are self-reported to BizBuySell by the representing brokers. Not all closed transactions are reported to BizBuySell and BizBuySell does not collect data from for-sale-by-owner transactions. Some transactions are excluded from example transactions due to confidentiality.





Counties included: Atascosa, Bandera, Bexar, Comal, Guadalupe, Kendall, Medina, Wilson



Note: Due to Closed Transaction collection and calculation methodology change in Q3 2011, adjustment factors must be applied to draw a direct comparison between Closed Transaction data from this quarter/year and quarters/years subsequent to Q2 2011. For

help with such adjustment contact the BizBuySell team. Active Listings data is not impacted by the methodology change so direct comparison of that data requires no adjustment.”



BizBuySell is the Internet's largest business for sale marketplace. Since 1995, BizBuySell has offered tools that make it easy for business owners and brokers to sell a business, and potential buyers to find the business of their dreams. BizBuySell lists over

45,000 businesses - spanning 80 countries - for sale at any time. The site also features an extensive franchise directory as well as a business valuation tool. Please visit www.bizbuysell.com.