Of the 2,213 businesses on the market across 8 provinces this week, averaging $533,026 CAD, most never make it past a first read. Only 754 disclosed both price and profit, and just 520 cleared our credibility screen. Those 520 are the ones worth your time, and Ontario had the most listings in this week's scan. Our examples assume 25% down at roughly 8.7% over ten years, which are our modeling assumptions rather than BDC's terms, so treat the math as a starting point for your own conversation with a lender. If your job has started to feel like something that happens to you rather than something you steer, this is the part of the market where steering is still possible.
THIS WEEK'S TOP CANADIAN DEALS
7 deals cleared our filters. Ranked by score. All prices in CAD.
Deal #1: HOME SERVICES FRANCHISE WITH $171K OWNER CASH FLOW
Eastern Ontario, Ontario, Canada · 14 years in operation
Asking: $400,000 CAD | Revenue: $687,000 CAD | Cash Flow: $171,000 CAD Rev Multiple: 0.58x | CF Multiple: 2.34x | Score: 7.6/10 Financing: seller financing indicated in the listing
Green Flags:
DSCR 3.80x — clears the 1.25x lender floor 3.0x over, self-financing at current rates
25% cash margin — healthy for this price range
Full revenue and cash flow disclosed — financials available to underwrite
Franchise system — proven operations playbook, national brand recognition, lender-friendly structure
Two exclusive painting territories in Eastern Ontario, operating since 2012 under a North American home services franchise, with subcontractors doing the work from a home base. At $400,000 CAD against $171,000 in cash flow, the 2.34x multiple buys a franchise resale with its own trading history rather than a new franchise at the listed $171,000 to $300,000+ startup cost. The owner's job is estimating, sales and customer relationships, and the head-office call centre feeds the leads, so the first question is how much of the $687,000 in revenue depends on that franchisor pipeline versus repeat and referral business.
Deal #2: ESTABLISHED HOME IMPROVEMENT SIDING BUSINESS IN VICTORIA, BC
Victoria, British Columbia, Canada · 5 years in operation
Asking: $367,000 CAD | Revenue: $734,000 CAD | Cash Flow: $100K - $250K Rev Multiple: 0.50x | CF Multiple: 2.10x | Score: 7.5/10 Financing: seller financing indicated in the listing
Green Flags:
DSCR 4.24x — clears the 1.25x lender floor 3.4x over, self-financing at current rates (estimated from a disclosed range)
24% cash margin — healthy for this price range (estimated from a disclosed range)
Revenue disclosed precisely; cash flow disclosed only as a seller-stated range or bound — verify the exact figure before underwriting
No lease obligation — asset-light model reduces fixed cost exposure
Franchise system — proven operations playbook, national brand recognition, lender-friendly structure
A franchise resale rather than a standalone shop: a five-year-old siding territory in Victoria, run from a home office with an iPad, laser tools and the franchisor's software. Revenue of $734,000 CAD is disclosed precisely, but cash flow is only a seller-stated range of $100K - $250K, so the 2.1x multiple rests on a midpoint and the real P&L is the first thing to see. The listing shows no employees; the work is done by an established list of subcontract crews, which makes this a job of managing crews and sales, and it suits someone who has run vendors and pipelines. The listing offers owner financing and a mandatory two-week franchisor training program.
Deal #3: WELL ESTABLISHED AND PROFITABLE UPS STORE
Vancouver Island, British Columbia, Canada · Retail · 28 years in operation
Asking: $450,000 CAD | Revenue: $745,795 CAD | Cash Flow: $166,067 CAD Rev Multiple: 0.60x | CF Multiple: 2.71x | Score: 7.5/10
Green Flags:
DSCR 3.28x — clears the 1.25x lender floor 2.6x over, self-financing at current rates
22% cash margin — healthy for a Retail business in this price range
Full revenue and cash flow disclosed — financials available to underwrite
Documented loyal customer base — acquisition value survives ownership transition
Franchise system — proven operations playbook, national brand recognition, lender-friendly structure
A UPS Store franchise resale on Vancouver Island with Gold-Level Sales Recognition and multiple years among the network's top Canadian stores, which is rarer than a clean P&L. At $450,000 CAD against $166,067 CAD in cash flow (2.71x), the Furniture/Fixtures package valued at $90,000 CAD is included in the ask. Shipping, printing and business services give the store several revenue lines feeding one counter, and the listing points to custom printing as the room to grow. The seller offers four weeks of training at no cost, so ask how many of the store's client relationships rest on the current owners personally, and what happens to them once the owners relocate.
Deal #4: MULTI-UNIT BOUTIQUE FITNESS PORTFOLIO IN WINNIPEG
Winnipeg, Manitoba, Canada · Health & Wellness
Asking: $395,000 CAD | Revenue: $700,000 CAD | Cash Flow: $160,000 CAD Rev Multiple: 0.56x | CF Multiple: 2.47x | Score: 7.5/10
Green Flags:
DSCR 3.60x — clears the 1.25x lender floor 2.9x over, self-financing at current rates
23% cash margin — healthy for a Health & Wellness business in this price range
Full revenue and cash flow disclosed — financials available to underwrite
Franchise system — proven operations playbook, national brand recognition, lender-friendly structure
Three Winnipeg boutique fitness studios under one franchise banner, priced at $395,000 CAD against $160,000 in disclosed cash flow. The differentiator is the no-scheduled-classes model: members start a workout any time during operating hours, which makes retention a convenience story rather than a class-timetable one. With a 4.9 Google rating and trained managers at each site, the seller pitches it as minimal owner involvement, though that claim deserves a hard look when three leased locations are in play. This is a franchise resale, so the franchisor's transfer terms and approval are the real gating item, and a buyer from a corporate background gets a ready-made operating playbook to run rather than build.
Deal #5: SPORTING GOODS STORE IN WINNIPEG
Winnipeg, Manitoba, Canada · Retail · 43 years in operation
Asking: $500,000 CAD | Revenue: $830,000 CAD | Cash Flow: $180,000 CAD Rev Multiple: 0.60x | CF Multiple: 2.78x | Score: 7.5/10
Green Flags:
DSCR 3.20x — clears the 1.25x lender floor 2.6x over, self-financing at current rates
22% cash margin — healthy for a Retail business in this price range
Full revenue and cash flow disclosed — financials available to underwrite
Franchise system — proven operations playbook, national brand recognition, lender-friendly structure
Used sporting goods resale franchise in Winnipeg, operating since 1983 and now on the market because the owner is retiring. The model is buying and reselling used sports, fitness and adventure gear, so inventory comes from trade-ins rather than wholesale orders, and the ask of $500,000 CAD includes $150,000 of that stock. At 2.78x cash flow, with the full $180,000 CAD disclosed against $830,000 CAD in revenue, the underwriting is simple, though a buyer should test how much of that inventory is actually saleable. The retirement exit is clean, but find out who the buyers and sellers of gear are loyal to, because that relationship base is what you are really paying for.
Deal #6: PRICE DROP! SUCCESSFUL TURNKEY CUSTOM CABINETS 🆕 NEW THIS WEEK
Edmonton, Alberta, Canada · Construction/Trades · 27 years in operation
Asking: $1,450,000 CAD | Revenue: $1,285,812 CAD | Cash Flow: $544,842 CAD Rev Multiple: 1.13x | CF Multiple: 2.66x | Score: 7.1/10
Green Flags:
DSCR 3.34x — clears the 1.25x lender floor 2.7x over, self-financing at current rates
42% cash flow margin — 42% of every revenue dollar reaches the owner
Full revenue and cash flow disclosed — financials available to underwrite
A 9,375 sq ft millwork shop in Edmonton that has built medical, dental and legal fit-outs for 27 years, now being sold because the owners are retiring. The listing says the cash flow is normalized earnings, and at 42% of revenue that margin is rich for custom cabinetry, so the add-backs are where the money gets argued. The premises are leased, which keeps real estate out of the ask but makes the lease terms a first-week diligence item. Best suited to someone with construction or project-management chops who can keep the contractor and architect relationships warm.
Deal #7: DESIGNER FURNITURE STORE 🆕 NEW THIS WEEK
Ottawa, Ontario, Canada · Retail
Asking: $500,000 CAD | Revenue: $500K - $1M | Cash Flow: $200,000 CAD Rev Multiple: 0.67x | CF Multiple: 2.50x | Score: 7.0/10
Green Flags:
DSCR 3.55x — clears the 1.25x lender floor 2.8x over, self-financing at current rates
27% cash margin — healthy for a Retail business in this price range (estimated from a disclosed range)
Cash flow disclosed precisely; revenue disclosed only as a seller-stated range or bound — verify the exact figure before underwriting
Designer furniture retailer in Ottawa asking $500,000 CAD against $200,000 CAD in cash flow, a 2.50x multiple that is unusually lean for a showroom with real inventory and supplier relationships. The listing's selling point is its trade accounts with the industry's best designer lines, and those dealer relationships are the asset you are paying for, so confirm that they transfer to a new owner before anything else. Revenue is only given as a $500K to $1M CAD range, so the 27% margin is an estimate until the seller shows you the real top line, and the premises are leased, which puts the lease terms on the diligence list too.
CANADIAN MARKET PULSE — Week of October 09, 2026
2,213 Canadian businesses were listed in our price band across 8 provinces this week. 754 of them (34%) published both price and profit — the only ones that can be scored. We feature 7. Ontario led with 257 listings, followed by Alberta (215), British Columbia (135).
The inventory:
Average asking price: $533,026 CAD | Median: $400,000 CAD
Scanned 726 of the 754 scoreable listings (96%); the credibility screen then removed 206 — 61 missing a required financial, 56 no stated asking price (band only), 37 implausible financials, 23 byte-identical financials (whole cluster dropped), 17 licensure-locked, 11 sold/unavailable listings, 1 near-duplicate relisting
Best multiple among featured deals with fully disclosed financials: 2.34x (meaning about 2.3 years to pay back the purchase price from cash flow alone)
One thing to watch: Look at who is actually selling in this week's featured set: five of the seven deals are franchises, from a UPS Store on Vancouver Island to a boutique fitness portfolio in Winnipeg. A franchise resale isn't an independent business you can reshape; the franchisor holds the keys. Before you spend time on any of them, get the franchise agreement and ask three things: whether the franchisor must approve you as the buyer, what transfer fee and retraining they charge, and how many years remain on the term with what renewal conditions. The two independents, the Edmonton cabinet shop at $1,450,000 and the Ottawa furniture store, answer to no franchisor, but they put the burden of proof on the seller's books instead. Whichever you pursue, a high score marks a candidate to investigate, not a confirmed buy, and the franchise terms can change the economics more than the listed cash flow does.
THE WATCHLIST
What's become of the deals we've featured before.
⚠️ Northern Alberta Automotive Repair And Drive-Thru Lube — no longer appears in our latest scan; it may have sold, been delisted, or gone off-market (first featured #001).
⚠️ Well Established Property Maintenance Company In The Shuswap — no longer appears in our latest scan; it may have sold, been delisted, or gone off-market (first featured #002).
⚠️ Established Canadian Consulting And Professional Services Busine… — no longer appears in our latest scan; it may have sold, been delisted, or gone off-market (first featured #003).
⚠️ Surrey Guildford Mall Franchised Bubble Tea — no longer appears in our latest scan; it may have sold, been delisted, or gone off-market (first featured #006).
⚠️ Profitable Quick-service Franchise Available For Sale, Ottawa, O… — no longer appears in our latest scan; it may have sold, been delisted, or gone off-market (first featured #011).
THE DEAL BREAKDOWN
Custom Tool And Die Solutions
GTA, Ontario, Canada · Manufacturing · 47 years in operation
This week we dissect one Canadian deal in depth — chosen for what it teaches, not its rank in this week's list — Score: 7.0/10. Here's the full picture: numbers, BDC financing structure, Canadian DD specifics, and the bull and bear cases.
The numbers at a glance (all CAD):
Asking price: $550,000 CAD
Revenue: $688,236 CAD
Cash flow: $215,072 CAD
The BDC financing structure:
Down payment (25%, assumed): $137,500 CAD — BDC sets the down payment case by case
BDC loan: $412,500 CAD at ~8.7% (assumed), 10-year term
Monthly debt service: $5,159 CAD
Monthly take-home after debt service: $12,764 CAD
Annual take-home: $153,168 CAD
Cash-on-cash return: 111%
Note: 25% down and ~8.7% are our modelling assumptions, not BDC terms.
Screening criteria:
Criterion | Target | Actual | Status |
|---|---|---|---|
CF multiple | <3.0x | 2.56x | Pass |
Revenue multiple | <2.5x | 0.80x | Pass |
DSCR (typical lender 1.25x floor) | ≥1.25x | 3.47x | Pass |
Cash margin | ≥15% | 31% | Pass |
Years in business | ≥5 | 47 | Pass |
Financials disclosed | Full | Full | Pass |
Verdict: Worth Pursuing — solid fundamentals; resolve the bear case before submitting an LOI.
What's working for this deal:
DSCR 3.47x — clears the 1.25x lender floor 2.8x over, self-financing at current rates
31% cash flow margin — 31% of every revenue dollar reaches the owner
Full revenue and cash flow disclosed — financials available to underwrite
Quality of earnings — normalize before you trust the number:
[ ] Owner salary: is market-rate replacement cost already subtracted from SDE?
[ ] Personal expenses: vehicle, phone, travel, family payroll run through the business?
[ ] One-time items: any non-recurring revenue (grants, CEBA, one-off contracts) inflating the figure?
[ ] CRA alignment: does stated SDE match T2 filings, or is there an add-back schedule?
[ ] Capex: is equipment aged and likely to need replacement in years 1-3?
The bull case: A 47-year-old Mississauga shop that grew through repeat customers, referrals and the partners' own outreach, with little focus on active growth, leaves room for a buyer who adds structured outbound sales. At 2.56x cash flow with 31% margins, the numbers clear lender coverage easily on the BDC-style structure in our examples: 3.47x DSCR against a 1.25x floor, with about $153,168 CAD a year left over after debt service. The majority owner staying up to a year gives a buyer real time to learn the customer relationships and the machinery before taking over fully.
The bear case: The business is owner-operated by two partners with just one other employee, so the customer relationships and the machining know-how sit with the people who are leaving. If those industrial customers buy on trust in the partners, they can walk after the transition ends. Before closing, get a customer concentration breakdown, ask which customers the partners personally handle, and make the transition terms binding, including the one-year and six-month stay periods, rather than leaving them as a verbal promise. The premises are leased, so also confirm the lease can be assigned and how much term remains before relying on the cash flow.
Key questions for the first call:
Is the seller open to an asset sale, or are they requiring a share sale? What's their LCGE position, and have they spoken to a tax advisor about structure?
What's included in the stated SDE — is owner salary, owner vehicle, and any personal expenses already normalized out of the cash flow figure?
Will key staff stay post-acquisition? Are any employees critical to customer relationships, and are they aware the business may be changing hands?
What does the trailing 3-year revenue trend look like — and are there any large customers or contracts up for renewal in the next 12 months?
Canadian-specific DD checklist:
Request CRA T2 returns (3 years) + Notice of Assessment to confirm filing
Verify HST/GST registration — confirm no outstanding CRA payroll remittances
Clarify deal structure: asset vs share sale upfront to avoid late-stage impasse
Review provincial employment standards compliance — varies significantly by province
Confirm any existing BDC/EDC debt that must be cleared at close
Next steps if you're interested:
Request 3 years of T2 returns and financial statements — match against stated SDE
Engage a Canadian business lawyer before signing an LOI
Contact BDC early and ask how long its acquisition loan process will take for this deal
Work through the first-call questions above before submitting any offer
Financing Edge: Why a 3.8x DSCR Is a Negotiating Chip, Not a Finish Line
A lender screens for one thing first: can the business carry its debt? The floor in our model is 1.25x. Two deals this week clear it by a wide margin, and that margin is worth more to you than to the lender.
What the lender sees
The Eastern Ontario home services franchise asks $400,000 CAD against $171,000 CAD of cash flow, a 2.34x multiple. On our modelled structure, its DSCR is 3.80x. The Winnipeg boutique fitness portfolio asks $395,000 CAD against $160,000 CAD, 2.47x, with a 3.60x DSCR.
Both sit far above the 1.25x floor. Our examples assume a ~8.7% rate, a 10-year term and 25% down. Those are modelling assumptions, not BDC's terms. BDC's own position is that the down payment is set case by case, and a BDC senior account manager's stated rule of thumb is 20% to 30% of the price.
Why headroom matters
When coverage is thin, the lender dictates structure. When it is this wide, you can ask for things a thin deal can't support:
Down payment at the low end of the range. Modelled at 25%, the franchise needs $100,000 CAD down and the fitness portfolio $98,750 CAD. Whether BDC accepts less is its call, but strong coverage is your argument.
Seller financing in the stack. BDC says financing can combine your own money, a loan and seller financing. The franchise listing indicates seller financing, though it states no terms. Ask what they are.
Price. A 3.80x DSCR means the deal survives a lower price and a worse year. Use that to negotiate down, not just to feel safe.
What the franchise resale adds
The franchise listing gives you one more lender-facing question: what does the franchisor control? Ask whether the franchisor must approve the transfer, what transfer fees apply, and how long the franchise agreement has left to run. The listing doesn't say. A lender will want those answers before it commits, and so should you.
The caveat
A 3.80x DSCR rests on stated cash flow. If a normalized number comes in lower after your accountant's review, the headroom shrinks. The Winnipeg portfolio is also leased premises, so confirm the lease runs long enough to outlast the loan.
This week
Ask the seller of each business for the last three years of tax returns and the franchise or lease agreement. Then sit down with a BDC account manager and open with your cash-in-hand figure. Let the coverage do the arguing.
Cross-Border Acquisitions: Buying South: What Changes When You Cross the Border
Start at home. The Winnipeg sporting goods store asks $500,000 CAD against $180,000 CAD in cash flow, a 2.78x multiple. The buyer can drive to it, meet the staff, read a CRA Notice of Assessment and ask a local lawyer about the lease. Every step of that is familiar. A US target changes each of those steps, and the plain-English version of the problem is this: you stop being able to rely on what you already know.
Financing: the rule runs the other way
The usual Canadian path, BDC, requires the business being bought to be Canadian and generating revenue. BDC is therefore not an option for a US target. The reverse also holds: since March 1, 2026, SBA 7(a) and 504 financing is limited to businesses whose direct and indirect owners and required guarantors are all US citizens or nationals living in the United States. A Canadian resident should not assume US program financing is available. Which lender, if any, will finance a cross-border purchase is a question for a cross-border lawyer and a lender willing to say so in writing.
Diligence at a distance
At home, diligence is a CRA Notice of Assessment, T2 returns and the books. A US target brings IRS filings (a Schedule C or 1120S where we would see a T2), state-level taxes and licensing, and a different lease and employment law regime by state. We cannot tell you how those rules apply to a Canadian buyer. Treat tax structure, entity choice and any immigration or work-authorization question as items for a cross-border accountant and lawyer, engaged before the offer rather than after.
Currency and the quiet cost of distance
A US business earns in USD. If your financing, savings and living costs are in CAD, the same operating profit can feel different from one quarter to the next without anything changing in the business. Model the deal in the currency you will actually spend, and decide before closing how you will move money across the border.
Distance is the other cost. The Winnipeg owner can walk the floor on a Tuesday. A buyer running a business in another country, far from where they live, depends on a manager or the seller, and cannot see small problems early. Some buyers run it remotely from day one; most should plan for a long transition with the seller still in the building.
This week's benchmark
The Victoria siding business lists $367,000 CAD asking against a stated cash flow range of $100K to $250K, so confirm that cash flow before leaning on its 2.10x multiple. Use these two as home-market yardsticks for what you can verify in person and what you would have to trust at a distance.
What to do this week
Before looking at any US listing, book an hour with a cross-border lawyer and accountant. Ask three questions: can I own this business, how would I finance it, and where would I pay tax? If the answers come back unclear or expensive, the Winnipeg and Victoria deals above are still sitting on your own side of the border.
Disclaimer: Nothing here is financial or legal advice. Always do your own due diligence. Verify all financial data with sellers and your advisors (including a Canadian business lawyer) before making any offers.
The Exit Ramp — Canada is a weekly deal curation service for professionals exploring small business acquisition in Canada. All prices in CAD unless noted.
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