The economy is solid for both business buyers and sellers.

Do you want to own a business but don’t like the idea of starting one from scratch? Maybe buying one is a better option. Or do you want to sell your small business to pursue other endeavors? Download our infographic to learn more on small business transactions.

The sales of small businesses jumped from 2012 and have been stable since 2013.

• In 2012, 4,730 businesses were sold
• In 2013, 7,056 businesses were sold
• In 2014, 7,494 businesses were sold
• In 2015, 7,222 businesses were sold

The prices of small businesses are also increasing.

• In 2012, the median asking price was $187,000 with a sales price of $164,000
• In 2013, the median asking price was $195,000 with a sales price of $180,000
• In 2014, the median asking price was $200,000 with a sales price of $185,000
• In 2015, the average asking price was $225,000 with a sales price of $199,000

Average prices by industry.

• Internet B2B small business = $364,400
• Gas station = $320,000
• Business/Medical Services = $272,400
• Restaurants/Bars = $155,000
• Internet B2C small business = $154,000

Restaurants accounted for 22% of all business sales in 2015, the highest of any industry.

Tips on buying a small business.

If you are planning on buying a business, brokers suggest investing less than 15% of your net worth. They recommend keeping at least 10% of liquid assets free. Expect to pay around 20% to 40% of business costs out-of-pocket.

Tips on selling a small business.

Start planning two to five years in advance, and learn the due diligence process. Consider seller financing which may increase your price by more than 15%. But maintain realistic expectations by researching business prices in your industry.

For more data and suggestions on buying or selling a business, download our infographic. Remember to consult an experienced, trusted SCORE mentor for help with your individual situation.