A main-street business in Wyoming typically sells for 1.5 to 2.5 times the owner's true annual earnings. With no state income tax, Wyoming lets you keep more of that number than most states. A 2025 non-compete law and a strict liquor license quota shape the rest of the deal.
Your tax returns almost always prove a higher number.
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| Business type | Revenue multiple | Owner-earnings (SDE) multiple |
|---|---|---|
| Hair salon / Barbershop | 0.35 to 0.65 times yearly revenue | 1.5 to 2.5 times owner earnings |
| Cleaning service | 0.5 to 0.9 times yearly revenue | 1.8 to 2.8 times owner earnings |
| Landscaping / Lawn care | 0.45 to 0.85 times yearly revenue | 1.8 to 2.8 times owner earnings |
| Restaurant / Cafe | 0.25 to 0.45 times yearly revenue | 1.3 to 2.2 times owner earnings |
| Auto repair / Detailing | 0.4 to 0.75 times yearly revenue | 1.7 to 2.6 times owner earnings |
| Retail shop | 0.3 to 0.6 times yearly revenue | 1.5 to 2.3 times owner earnings |
| Other service business | 0.35 to 0.7 times yearly revenue | 1.5 to 2.5 times owner earnings |
Wyoming requires whoever buys your business to keep back enough of the purchase price to cover any sales tax, penalties, and interest you have not paid, until you produce a receipt from the Department of Revenue or a certificate showing no taxes are due. If the buyer pays you everything and taxes turn up unpaid, the state can pursue both of you.
Reach out to the Department of Revenue when the deal turns serious, settle any balance, and get the clearance document before closing. A seller who arrives with proof in hand collects the full price on the spot, and the extra bonus in Wyoming is that no state income tax touches your gain afterward.
Wyoming passed a law effective July 1, 2025 that voids most non-compete agreements signed on or after that date. Sellers do not get to celebrate, because the statute spells out exceptions, and covenants made in connection with the sale of a business are first on the list, alongside trade secret protection and executive roles.
So the promise you make at closing not to open a competing shop is fully enforceable in Wyoming. Negotiate the duration and the territory as if you will live with every word, and put one flat-fee review by a licensed Wyoming attorney on the closing checklist.
Wyoming caps retail liquor licenses at one for every 2,000 residents, and they are issued locally by the town council or, outside city limits, the county commissioners. Transferring ownership of a license takes local approval, with notice posted at the premises and published in the local newspaper for two consecutive weeks before the governing body acts.
That scarcity cuts both ways. A license in a town at its cap can add real value to your sale, but the public notice and approval process adds weeks to your timeline. Get the transfer application to the clerk early so the council vote lands before your closing date.
Before anything else, put together three years of business tax returns. SBA lenders insist on three years of returns before they will finance a buyer, and small sales in Wyoming almost always involve SBA money or seller financing. Run the free estimate below and get a documented number before you tell anyone your asking price.
Most main-street businesses sell for 1.5 to 2.5 times the owner's true yearly earnings, or their replacement value, whichever is higher and can be proven. True earnings means salary plus profit plus the personal things the business pays for. Most owners forget those add-backs count, so most owners guess low.
SBA lenders require three years of business tax returns to finance a buyer. Three years also shows a trend, not a snapshot. We saw a salon whose latest year looked like decline. Three years proved it was one expensive staffing year, and that was worth tens of thousands on her price. Fewer years looks like hiding. More rarely changes the number.
No. YourBizWorth is not a broker, appraiser, or law firm. We prepare your analysis and drafts. We flag exactly which steps need a licensed attorney, usually one flat-fee engagement at closing, often payable from the sale money. We make the lawyer cheaper, not absent.