Updated October 13, 2026
Small businesses sold in the Indianapolis-Carmel area for a median of $350,000 in 2025, at an average of 2.50 times cash flow, after a median of 114 days on the market. The figures cover 35 sales reported to the BizBuySell marketplace.
Each row is a metro area from the same BizBuySell table and period, so rows can be compared directly. Metro areas can cross state lines.
| Metro area | Reported sales | Median sale price | Median cash flow | Cash flow multiple | Median days on market |
|---|---|---|---|---|---|
| Chicago-Naperville-Joliet | 194 | $265,590 | $128,618 | 2.49 | 179 |
| Cincinnati-Middletown | 39 | $324,000 | $147,588 | 2.27 | 249 |
| Indianapolis-Carmel | 35 | $350,000 | $168,167 | 2.50 | 114 |
| Louisville-Jefferson County | 20 | $579,000 | $366,061 | 2.32 | 206 |
Source: BizBuySell Insight Report data tables. Smaller metro areas have few reported sales, so treat their figures as indicative.
These are asking figures for businesses currently listed, not sale results. Do not mix them with the closed-sale table above.
| Metro area | Listings | Median asking price | Median cash flow | Asking price to cash flow |
|---|---|---|---|---|
| Chicago-Naperville-Joliet | 750 | $454,450 | $173,090 | 3.40 |
| Cincinnati-Middletown | 230 | $355,000 | $179,349 | 3.13 |
| Indianapolis-Carmel | 208 | $425,000 | $182,008 | 3.14 |
| Louisville-Jefferson County | 124 | $525,000 | $195,832 | 3.49 |
Source: BizBuySell Insight Report data tables.
National figures for a different period from the tables above. Do not set a figure from the tables above against a US Q2 2026 figure as if they covered the same period.
| Metric | United States, Q2 2026 | Change noted by the source |
|---|---|---|
| Closed sales | 2,117 | Down 10% from the prior quarter and from a year earlier |
| Median sale price | $349,250 | Down 1% year over year |
| Median revenue | $692,087 | Down 3% year over year |
| Median cash flow | $155,921 | Down 3% year over year |
| Average cash flow multiple | 2.7 | Up 2% year over year |
| Median days on market | Not published nationally | Service businesses: 155 days |
Source: BizBuySell Insight Report, Q2 2026.
Indiana had 591,671 small businesses in 2022, which is 99.4% of all businesses in the state.
| Measure | Figure | Data year |
|---|---|---|
| Small businesses | 591,671 (99.4% of all businesses) | 2022 |
| Small businesses without employees | 480,921 | 2022 |
| Employers with 1 to 19 employees | 95,347 | 2022 |
| Employers with 20 to 499 employees | 15,403 | 2022 |
| Small business employees | 1,241,838 (43.2% of state employees) | 2022 |
| Establishments opened, all businesses | 16,993 | March 2023 to March 2024 |
| Establishments closed, all businesses | 16,463 | March 2023 to March 2024 |
| Openings by small businesses | 15,661 | March 2023 to March 2024 |
| Closings by small businesses | 15,161 | March 2023 to March 2024 |
| Net job change, all businesses | +16,876 | March 2023 to March 2024 |
| Net job change, small businesses | +23,008 | March 2023 to March 2024 |
| Female-owned businesses | 225,251 (44.1%) | 2022 |
| Veteran-owned businesses | 29,838 (5.8%) | 2022 |
Source: SBA Office of Advocacy, Indiana 2025 Small Business Profile. Business counts and owner demographics are Census data. Opening, closing, and job figures are Bureau of Labor Statistics data. Small businesses are firms with fewer than 500 employees.
To see what drives these numbers for your own business, read our valuation guides or browse industries.
In full-year 2025, the median sale price of a small business reported in the Indianapolis-Carmel area was $350,000, based on 35 reported sales, according to the BizBuySell Insight Report data tables.
The median days on market for reported Indianapolis-area sales in full-year 2025 was 114.
Reported Indianapolis-area sales in full-year 2025 averaged 2.50 times cash flow. Active listings in Q2 2026 were asking an average of 3.14 times cash flow. What any one business is worth depends on its own financials.
The SBA Office of Advocacy counted 591,671 small businesses in Indiana in 2022, which is 99.4% of all businesses in the state. Of these, 110,750 had employees.
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This page is informational. It is not an appraisal, an offer, or a prediction of what any business will sell for. Figures come from the sources listed and may change when those sources are updated.
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