Active

opportunity score

Denver, CO Market Report

Rocky Mountain hub with educated workforce, outdoor lifestyle appeal, and growing tech scene.

3.0M

Metro Population

+1.8%

Annual Growth

720

Listed Businesses

$590K

Median Asking Price

🏙️ Market Overview

3.0M metro

Population · +1.8%/yr growth

Top Industries:
• Technology
• Outdoor Recreation
• Healthcare

📊 Acquisition Activity

720

businesses listed for sale

Avg. time on market: 4.5 months

Median asking price: $590K

Price range: $250K – $4.0M

1,900 active buyers

🏦 SBA Lending Snapshot — Denver

27%

7(a) Approval Rate

$570K

Avg. Loan Size

Top Lenders

FirstBank · U.S. Bank · Vectra Bank

SBA Performance: Good — tech-enabled businesses and outdoor industry companies succeed

📈 Business Valuation Multiples — Denver

Industry	SDE Multiple	EBITDA Multiple	Notes
Restaurant (FSR)	2.0x–2.8x	4.6x–6.0x	High operating costs (CO minimum wage, rent); tighter margins
HVAC / Plumbing	2.5x–3.3x	5.5x–6.9x	Mountain climate; snow/ice equipment and HVAC demand year-round
Dental	2.8x–3.6x	6.2x–7.8x	Affluent patient base; high insurance + cash pay mix
E-Commerce	2.1x–3.0x	4.8x–6.3x	Active outdoor/gear e-commerce; lifestyle brand premium
Landscaping	2.3x–3.1x	5.6x–6.9x	Short season but high margins; commercial landscape growing
Professional Services	2.8x–3.6x	6.0x–7.5x	Tech worker influx driving demand; outdoor lifestyle businesses valued

SDE = Seller's Discretionary Earnings (cash flow to owner). EBITDA = Earnings Before Interest, Tax, Depreciation, Amortization. Multiples based on comparable transactions and market data.

🔍 Top Industries — Denver

⛷️ Outdoor Recreation & Gear High

SDE 2.6x–3.5x SDE/EBITDA

Ski, bike, hiking, and adventure tourism companies. Lifestyle brand businesses command premium. PE interest in scalable outdoor service platforms.

💻 Technology Services High

SDE 3.2x–4.2x SDE/EBITDA

Tech talent influx from California migration. SaaS, climate-tech, and remote-work-enabled businesses highly valued. Multiple tech IPOs creating liquidity for re-investment.

🏥 Healthcare & Wellness Active

SDE 2.7x–3.4x SDE/EBITDA

Health-conscious population drives wellness demand. Integrative health, physical therapy, and outdoor-focused healthcare services growing.

💼 Recent Notable Deals — Denver

$480K

SBA 7(a)

Ski Touring Guide Service

2.9x SDE — seasonal but high-margin operation · 2025

$1.1M

PE Acquisition

IT Consulting Firm (LoDo)

3.6x SDE — remote-work-enabled with $300K SDE · 2025

$650K

Conventional

Physical Therapy Practice (Boulder)

3.0x SDE — active lifestyle patient demographics · 2024

📈 Growth Signals

Colorado tech sector growing 8% YoY, outpacing national average
Boulder/Denver startup ecosystem maturing; exits funding new acquisitions
Remote work enabling Colorado lifestyle while maintaining earnings
Outdoor recreation economy generates $62B annually

⚠️ Key Risks

Housing affordability crisis limiting workforce availability
High state income tax (4.4%) vs Texas competitors
Short outdoor industry season creates revenue seasonality

🎯 12-Month Acquisition Outlook — Denver