Marketplace › Metro Market Reports › Indianapolis
74
Moderate
opportunity score

Indianapolis, IN Market Report

Midwest logistics and healthcare hub offering affordable acquisitions with strong SBA lender support.

2.1M
Metro Population
+1.5%
Annual Growth
620
Listed Businesses
$360K
Median Asking Price

🏙️ Market Overview

2.1M metro
Population · +1.5%/yr growth
Top Industries:
• Logistics & Distribution
• Healthcare
• Manufacturing

📊 Acquisition Activity

620
businesses listed for sale
Avg. time on market: 4.5 months
Median asking price: $360K
Price range: $150K – $2.5M
1,400 active buyers

🏦 SBA Lending Snapshot — Indianapolis

26%
7(a) Approval Rate
$480K
Avg. Loan Size
Top Lenders
Old National Bank · First Internet Bank · Lake City Bank
SBA Performance: Good — logistics and manufacturing businesses get strong SBA support

📈 Business Valuation Multiples — Indianapolis

Industry SDE Multiple EBITDA Multiple Notes
Restaurant (FSR) 1.9x–2.6x 4.2x–5.5x Bowl culture and sports tourism; value-conscious dining market
HVAC / Plumbing 2.4x–3.2x 5.2x–6.5x Cold winters drive HVAC demand; industrial and residential mix
Dental 2.7x–3.5x 5.8x–7.2x Growing suburban population; stable employer insurance base
E-Commerce 1.8x–2.5x 4.0x–5.4x FedEx hub creates logistics focus; last-mile businesses active
Landscaping 1.9x–2.7x 4.8x–6.0x Shorter growing season; commercial real estate landscaping
Professional Services 2.3x–3.1x 5.0x–6.2x Manufacturing sector spillover; stable but not fast-growing
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 — Indianapolis

🚚 Logistics & Distribution High
SDE 2.3x–3.1x SDE/EBITDA
FedEx hub and interstate corridor create strong logistics M&A. Last-mile delivery, trucking, and warehouse businesses active. Amazon fulfillment centers nearby driving demand.
🏥 Healthcare Services Active
SDE 2.6x–3.4x SDE/EBITDA
IU Health and Franciscan Health expansion driving healthcare M&A. Medical billing, home health, and clinic groups active. Stable patient base from manufacturing workforce.
🏭 Manufacturing Services Active
SDE 2.2x–3.0x SDE/EBITDA
Auto parts and industrial manufacturing base. Precision machining, metal fabrication, and contract manufacturing businesses changing hands. Defense contracts add stability.

💼 Recent Notable Deals — Indianapolis

$380K
SBA 7(a)
Last-Mile Delivery Company
2.6x SDE — Amazon delivery service partner; $146K SDE · 2025
$450K
SBA 7(a)
Metal Fabrication Shop (Carmel)
2.8x SDE — defense contractor supply; $160K SDE · 2025
$520K
SBA 7(a)
Dental Practice (Carmel)
3.0x SDE — affluent suburb; $173K SDE · 2024

📈 Growth Signals

⚠️ Key Risks

🎯 12-Month Acquisition Outlook — Indianapolis

Moderate
12-month: Indianapolis offers value-oriented acquisitions at lower multiples than coastal metros. Logistics and manufacturing sectors stable. SBA lenders active. Good market for buyers seeking cash-flow-positive businesses at reasonable entry prices.

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