California plays a large part in the health of small business on a national level. The state is home to 3.7 million small businesses, or 13 percent of all small businesses in the U.S., according to the Small Business Administration. Those small businesses employ 6.7 million people, which make up almost half of all California employees.
In 2016, at least 16,858 businesses were sold in California, and as of April 2017, 5,594 small businesses have been sold year-to-date. Here’s a look at the most popular business industries sought, according to The BizBen Index:
- Car Washes
- Automated Laundries
- Branded Gas Stations
- FBSO’s – For Sale By Owner
- Smog Test Shops
- Liquor Stores
- Tire Stores
- Full Service Restaurants
- Businesses With Real Estate
- Medical Marijuana Dispensaries
- eCommerce Websites
- Fast Food Franchise Restaurants
- Manufacturing Businesses
- Smoke & Vape Shops
- Convenience Stores
- Medical Marijuana Dispensaries
- Boba Shops
- Pizza Restaurants
- Relocatable Businesses
- Postal/Mail Box Stores
California also happens to be a popular state for 401(k) business financing, which allows entrepreneurs to use their retirement funds to buy a business without any tax penalties.
