Before getting into business brokering, I spent 10 years in investment real estate. During that time, I was also an entrepreneur myself owning a tree service company which I ended up exiting after running it for several years. This firsthand experience of building, managing, and exiting my own business, sparked my passion for business brokering. Now I help business owners navigate the sale of their business with confidence and for top dollar.
Your business sale remains private. We protect your employees, customers, and competitive position throughout the entire process.
Access our extensive network of qualified buyers actively seeking business opportunities across the country.
Get a true market value assessment based on industry standards, comparable sales, and current market conditions.
From initial valuation to closing, we guide you through every step of the sale with expert negotiation and due diligence support.
We assess your business's true market value with a comprehensive, confidential analysis.
Your business is marketed to qualified buyers while protecting your identity and operations.
We screen buyers for qualifications and negotiate terms that maximize your value.
Our team guides you through due diligence, contracts, and a successful closing.
Selling a business in Tennessee puts you in one of the fastest-growing and most business-friendly markets in the country. Experienced Tennessee business brokers help owners navigate a market anchored by four distinct major metros, no state income tax on wages, strong population growth, and a diverse economy spanning healthcare, music and entertainment, logistics, manufacturing, and tourism. That combination creates strong, active buyer demand across a wide range of industries and deal sizes.
Reaching the right buyers and positioning your business correctly still requires a structured, confidential process built around an accurate valuation from the start.
Sell With Millsaps helps Tennessee business owners navigate the sale process with full confidentiality, no upfront fees, and a process built entirely around achieving the best possible outcome.
The right Tennessee business brokers understand that the state has four distinct major metros, each with its own economy and buyer pool. Nashville has become one of the fastest-growing cities in the country with a healthcare, music, and professional services economy. Memphis is a global logistics hub anchored by one of the busiest cargo airports in the world. Knoxville has a manufacturing, energy, and research economy. Chattanooga has a growing manufacturing and technology base.
Tennessee’s lack of a state income tax on wages, combined with strong population growth, has made it a top destination for both business relocation and business buyers from higher-cost states. This influx of people and capital creates robust buyer demand across the state.
Buyer activity across Tennessee includes individual owner-operators looking for established businesses in the $300,000 to $2 million range, private equity groups and search fund operators targeting businesses with $500,000 or more in annual earnings, and strategic acquirers from Georgia, Kentucky, Alabama, and nationally who are drawn by Tennessee’s growth and business climate.
Healthcare businesses are a defining strength of the Tennessee market, particularly in Nashville, which is one of the largest healthcare industry hubs in the country. Healthcare services, medical practices, healthcare staffing, and healthcare support businesses attract strong buyer interest from investors who understand the sector’s depth in the state.
Logistics and distribution businesses benefit enormously from Tennessee’s central location and Memphis’s status as a global logistics hub. Established carriers, freight brokers, and distribution operations attract buyers who value the strategic positioning for regional and national reach.
Manufacturing businesses including automotive suppliers, industrial equipment, and specialty manufacturing attract buyers across the state, particularly in the Chattanooga and Knoxville regions where the manufacturing base is strong and the workforce is experienced.
Construction and specialty trades businesses including HVAC, electrical, plumbing, roofing, and general contracting are in strong demand, driven by Tennessee’s rapid population growth and the sustained residential and commercial construction it fuels.
Hospitality and tourism businesses attract buyers in Nashville’s entertainment economy and in tourism markets like the Great Smoky Mountains region. Established concepts with proven revenue in high-traffic areas carry meaningful value.
Professional and business services including accounting firms, staffing agencies, IT services companies, and consulting businesses with recurring client relationships sell well because buyers understand the value of established client trust in Tennessee’s growing markets.
Nashville is one of the fastest-growing metros in the country, anchored by a nationally significant healthcare industry alongside music, entertainment, professional services, and technology. The city’s growth attracts buyers from across the country, including private equity groups, healthcare investors, and individuals relocating from higher-cost markets. Healthcare, professional services, hospitality, and construction businesses in the Nashville area attract particularly strong buyer competition.
Memphis anchors West Tennessee as a global logistics and distribution hub, home to one of the busiest cargo airports in the world. The metro has a strong logistics, distribution, healthcare, and manufacturing economy. Buyers looking at Memphis businesses include logistics acquirers drawn by the region’s infrastructure, as well as healthcare and manufacturing buyers.
Knoxville anchors East Tennessee with a manufacturing, energy, and research economy supported by the University of Tennessee and nearby Oak Ridge. Chattanooga has a growing manufacturing and technology base and is known for its investment in high-speed infrastructure. Both metros attract manufacturing buyers and acquirers drawn by their lower cost structures and strong regional economies.
The process begins with a professional valuation based on your actual financials, Tennessee market conditions, and recent comparable transactions. Most Tennessee small businesses are valued at 2.5 to 4 times seller’s discretionary earnings. Businesses with strong recurring revenue, established client relationships, and limited owner dependency can push toward the higher end of that range or beyond.
Your business goes to market through a confidential listing with no identifying information released until a buyer signs a non-disclosure agreement. Buyers are screened for financial capacity and relevant experience before accessing your financials. Once a qualified buyer submits a letter of intent, negotiation covers price, deal structure, and transition terms. Due diligence and closing follow with legal and financial coordination on both sides.
Most Tennessee business sales close within 6 to 12 months from the time of listing. For a full breakdown of what affects that timeline, see our guide on how long it takes to sell a business.
Experienced brokers value most Tennessee businesses using a multiple of seller’s discretionary earnings for transactions under $5 million in sale price. SDE is calculated by taking net profit and adding back the owner’s salary, personal expenses, depreciation, one-time costs, and amortization. The result reflects what a new owner would actually earn each year. Our guide on seller’s discretionary earnings walks through the full calculation with a worked example.
Tennessee small businesses typically sell at 2.5 to 4 times SDE. Healthcare businesses in the Nashville market and logistics businesses in the Memphis market often achieve stronger multiples reflecting the exceptional depth of buyer demand in those sectors. Larger businesses with $500,000 or more in annual earnings are valued using EBITDA multiples typically ranging from 3.5 to 6 times depending on sector and growth profile.
Sellers who prepare 12 to 18 months before going to market consistently achieve better outcomes. The key preparation steps are cleaning up financials, reducing owner dependency, diversifying the customer base if concentration is high, and addressing any outstanding legal or compliance issues before buyers find them during due diligence.
If you are weighing whether to sell your business without a broker, that guide covers what that process involves and where it typically falls short for Tennessee sellers.
Most experienced Tennessee business brokers work on a success-based commission with no upfront fees. Typical rates range from 8 to 12 percent of the final sale price. No fee is charged until the deal closes. For a full breakdown of how fees work, see our guide on how much does a business broker charge. If you want to understand how brokers structure their business and what drives their compensation, you can learn how business brokers are compensated before your first conversation.
Whether you are thinking about selling in the near term or further out, the right first step is a confidential conversation about what your business is actually worth.
Get your free confidential Tennessee business valuation
No upfront fees. No obligation. Your information stays completely private.
Sell With Millsaps is a trusted business brokerage firm dedicated to helping business owners navigate the complex process of selling their companies. With a proven track record and a commitment to confidentiality, we guide owners from valuation to closing.
Our team understands that your business represents years of hard work and dedication. That’s why we take a personalized approach to every engagement, ensuring that your unique needs and goals are at the center of everything we do.
Seller-First Approach Your interests always come first. We work exclusively for you to maximize your outcome.
Our network spans the entire country, connecting you with qualified buyers wherever they are.
Years of successful transactions have given us the expertise to handle any business sale.
The process starts with a professional valuation based on your actual financials and current Tennessee market conditions. From there, your business is prepared for confidential marketing, presented to qualified buyers under a non-disclosure agreement, and taken through negotiation, due diligence, and closing. An experienced broker manages all of this while keeping the sale completely confidential.
Most Tennessee business sales close within 6 to 12 months from the time of listing. Businesses with clean financials and strong recurring revenue tend to move faster. Deals involving SBA financing typically add 60 to 90 days to the closing timeline once a buyer’s loan is approved.
Most Tennessee business brokers work on a success-based commission of 8 to 12 percent of the final sale price with no upfront fees. No payment is due until the deal closes.
Most Tennessee businesses are valued at 2.5 to 4 times seller’s discretionary earnings depending on industry, growth trend, customer concentration, and how transferable the business is to a new owner. Larger businesses are valued using EBITDA multiples typically between 3.5 and 6 times.
Yes. Your business is marketed under a blind profile with no identifying information until a buyer signs a non-disclosure agreement and is qualified financially. Your employees, customers, and competitors have no reason to know anything is happening until you choose to disclose it.
Indirectly, yes. Tennessee’s lack of a state income tax on wages has driven strong population growth and business relocation into the state, which broadens the buyer pool for Tennessee businesses. Many buyers specifically target Tennessee businesses because of the favorable tax and business climate, which can support stronger demand and valuations.
Yes, and it is strongly encouraged. A business that continues to perform well during the sale process is significantly more attractive to buyers and supports the valuation you are asking for. We manage the sale process to minimize disruption to your daily operations.
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