One of the most common questions business owners ask when they begin considering selling their business is:

“How much is my business worth?”

Whether you own a restaurant, café, beauty salon, massage shop, laundry business, hotel, factory, logistics company, or e-commerce business, this is a question that concerns almost every business owner.

However, many owners do not know how to determine an appropriate selling price.

For example, you may think:

“I spent 3 million THB to start this business, so I want to sell it for 3 million THB.”
“I invested 5 million THB in equipment, so I want 5 million THB for the business.”
“I have worked hard for 10 years, so I want to sell it at a high price.”

These feelings are completely understandable.

However, buyers look at value from a different perspective.

In this article, we will explain how business sale prices are determined and what factors influence a business’s market value.

1. A Selling Price Is Not Based on What You Want

The first thing to understand is that a business sale price is not determined by:
“The amount the owner wants.”

For example, even if the owner says:
“I want to sell my business for 5 million THB.”

the business will not sell if buyers believe:
“The business is only worth 2 million THB.”

On the other hand, if the owner thinks:
“Maybe it’s worth around 3 million THB.”

but a buyer sees significant value and growth potential, the business may sell for even more.

2. What Are Buyers Really Buying?

Buyers are not simply buying equipment or furniture.
What they are really buying is:

Future profit potential.
For example, consider two restaurants:

Restaurant A
Monthly profit: 20,000 THB

Restaurant B
Monthly profit: 200,000 THB

Even though both are restaurants, their values are very different.

Buyers focus on:
“How much profit can this business generate in the future?”

3. Key Factors That Influence a Business’s Value

When determining a business sale price, buyers typically evaluate the following factors:

Revenue
How much revenue does the business generate each month?

Profit
How much profit does the business generate each month?

Customers
Does the business have loyal customers and repeat clients?

Location
Location is especially important for businesses with physical premises.

Brand
How well-known and respected is the business?

Staff
Does the business have experienced employees?

Equipment
What is the condition of the machinery, tools, and facilities?

Growth Potential
Does the business have room for future growth?

4. Startup Costs Do Not Determine Business Value

This is one of the most common misconceptions among business owners.
For example, suppose you invested: 5 million THB to start your business.

That does not necessarily mean the business is worth 5 million THB today.
Think of it like a car.

Even if a new car costs 1 million THB, it usually cannot be sold for the same amount five years later.
Businesses work in a similar way.

Buyers are interested in:
How much value the business has today

—not how much money was spent in the past.

5. How Is Equipment Valued?

Equipment is certainly an important asset.

Examples include:

• Commercial kitchen equipment
• Beauty salon equipment
• Medical equipment
• Laundry machines
• Factory machinery

However, equipment depreciates over time.

In most cases, equipment is valued based on its current market value, not its original purchase price.

6. Customers Are One of the Most Valuable Assets

For many small businesses, customers are the most valuable asset of all.
For example:

• 500 active members
• 5,000 LINE followers
• 20,000 Instagram followers

These assets can significantly increase the attractiveness of a business.

Buyers want to know:
“Will these customers continue using the business after the ownership changes?”

7. Profitable Businesses Are Valued More Highly

Generally speaking, businesses with stable profits are worth more.
For example, a business generating:
100,000 THB profit per month
will usually receive a much higher valuation than a business that is losing money.
For this reason, if you are considering selling your business, it is often beneficial to do so while the business is still performing well.

8. Can a Business Be Sold If It Is Losing Money?

Yes, it can.
For example, a business may still attract buyers if it has:

• A prime location
• A strong brand
• A loyal customer base
• Valuable equipment

However, businesses that are losing money generally sell for less than profitable businesses.

9. Overpricing Can Be Dangerous

This is one of the most common mistakes sellers make.
For example, if a business with a market value of 1 million THB is listed for 3 million THB, it may receive very few inquiries.
As a result, the business may remain unsold for months.
Setting a realistic asking price is extremely important.

10. Underpricing Should Also Be Avoided

On the other hand, there is no need to sell your business at an extremely low price simply because you are in a hurry.
A better strategy is often to launch at a reasonable price and adjust based on market response.
The key is to start with a realistic valuation.

11. Business Valuation Checklist

Before setting a selling price, organize the following information:

 ✓  Monthly revenue
 ✓  Monthly profit
 ✓  Number of customers
 ✓  Number of repeat customers
 ✓  Number of employees
 ✓  Equipment inventory
 ✓  Rent
 ✓  Contract status
 ✓  Social media followers
 ✓  Future growth potential

The more organized this information is, the easier it becomes for buyers to assess the value of your business.

12. Ultimately, the Market Determines the Price

No matter how many calculations you make, the market ultimately determines the final selling price.
If buyers see value, the business will sell.
If they do not see value, it will not.
For this reason, you do not need to find the perfect price from the beginning.
Sometimes the best way to discover market value is simply to put the business on the market and evaluate buyer interest.

Summary

A business sale price is determined not by:
“How much money was invested in the past”

but by:
“How much value the business can create in the future.”

Buyers evaluate:

• Profitability
• Customers
• Brand reputation
• Equipment and assets
• Future growth potential

When determining your asking price, it is important to consider not only your own expectations but also the market’s perspective.
Start by organizing your business information and bringing your business to market at a realistic and competitive price.

Looking to Sell Your Business?

Bizkaakai allows owners to list a wide range of businesses for sale, including restaurants, cafés, beauty salons, massage shops, hotels, factories, logistics companies, e-commerce businesses, and more.

Why not list your business on Bizkaakai and connect with potential buyers today?

[List Your Business on Bizkaakai]

Bizkaakai Market Insights (As of June 2026)

According to Bizkaakai data from the past three years, business sale prices vary significantly depending on the industry and location.
For example, the average asking prices of listings in Bangkok are:

• Restaurants, Cafés, and Bars: approximately THB 620,000
• Beauty Salons, Massage Shops, and Nail Salons: approximately THB 510,000
• Clinics and Pharmacies: approximately THB 890,000
• Hotels and Guesthouses: approximately THB 1.45 million

Looking at sold-out listings, the average sale prices are:

• Restaurants, Cafés, and Bars: approximately THB 590,000
• Beauty Salons, Massage Shops, and Nail Salons: approximately THB 520,000
• Clinics and Pharmacies: approximately THB 780,000
• Hotels and Guesthouses: approximately THB 1.39 million

These figures suggest that each industry tends to have its own market price range.

At the same time, there can be significant variation even within the same category.
For example, restaurant, café, and bar listings on Bizkaakai range from businesses worth only a few tens of thousands of baht to businesses valued at several million baht.

This demonstrates that business valuation is not determined by industry alone.
Buyers typically evaluate a business based on factors such as:

• Profitability
• Customer base
• Location
• Equipment and assets
• Brand reputation
• Future growth potential

As Bizkaakai’s data shows, setting an appropriate asking price starts with objectively understanding your business’s strengths and market value.

Note

Bizkaakai has historically operated as a business-for-sale marketplace focused primarily on small businesses. For this reason, until recently, the maximum listing price allowed on the platform was limited to THB 3 million.
As a result, much of the historical data reflects small and medium-sized business transactions.

Following the expansion of the platform, Bizkaakai now accepts listings with asking prices of up to THB 30 million, allowing a broader range of businesses and investment opportunities to be listed.
As the platform continues to grow, we expect to see an even wider range of business valuations represented in future market data.

Data source: Bizkaakai internal listing data (June 2023 – June 2026)