Library Resources for Market Analysis Mary Buelow, Head of Information Services Hedberg Public Library 316 S Main St Janesville, WI 53545 (608) 758-6581 referencedesk@hedbergpubliclibrary.org
What is Market Analysis? It is the process of gathering and synthesizing information that will help you make informed decisions for your business.
Why do I want this information? • To help understand your business’s operating environment • To make informed business decisions • To minimize business surprises • To help funding organizations understand your business
Research for a Market Analysis covers: � Your field or industry � Your competition � Your markets
Your Field or Industry
ourcebook mall Business S S
Small Business Sourcebook has leads for: Start Up Information Associations and Other Organizations Reference Works Trade Periodicals Franchise and Business Opportunities and more!
“Society of American Florists” Growers, wholesalers, retailers, and allied tradesmen in the floral industry. . . provides business resources . Sponsors Floricultural Hall of Fame . . . Com piles statistics ; sponsors competitions.
IC and NAICS S
Business Classification Business classification systems are “Dewey Decimal” numbering systems for companies Many databases and directories arrange listings by classification codes.
Two maj or Business Classification systems in use are: ▫ Standard Industrial Classification System (SIC) ▫ North American Industry Classification System (NAICS)
S ome classification categories can be very broad • SIC 5812 “Eating Places” includes coffee shops, restaurants, caterers, institutional food service establishments • SIC 7299 “Miscellaneous Personal Services, Not Elsewhere Classified” includes genealogical investigations, dating services, buyers clubs, tattoo parlors
It is important to understand exactly what your SIC or NAICS classification represents!
S earch for classification codes in print directories or online: SIC www.osha.gov/ pls/ imis/ sicsearch.html NAICS www.census.gov/ naics/
ubj ect Codes for Florists: • NAICS Code for Florists is 453110 • SIC Code for Florists is 5992 S
tudies tatement S RMA Annual S
Annual S tatement S tudies • Arranged by NAICS code • Balance Sheet Data • Income Data • Ratios • Data sorted by assets, and data sorted by sales • Five years comparative historical data
Balance S heet Data • Average percentage for asset categories, including cash and equivalents, trade receivables, inventory, fixed assets, intangibles • Average percentage for liabilities including short term notes payable, trade payables, income taxes payable, long term debt
Ratios • Sales/ Working Capital • Fixed/ Worth • Quick Ratio • Sales Receivables • Cost of Sales/ Inventory • Cost of Sales/ Payables • Percent Profits Before Taxes/ Total Assets • Percent Depreciation, Depletion, Amortization / Sales
Help you analyze a financial balance sheet or estimate future benchmarks Financial Ratios
Periodical Articles EBSCOhost Business Source Premier
EBS COhost Business S ource Premier • Available to all Wisconsin residents through BadgerLink www.badgerlink.net • Also available on the Hedberg Public Library’s Research Databases page
tates Census Economic Census United S
United S tates Census • Decennial Census. Taken every ten years to collect information about people and housing in the US • American Community Survey. Ongoing survey that provides data about your community every year • Econom ic Census. Profiles the US econom y every five years.
Economic Census is now available on American FactFinder
earch Advanced S
Options are on the left Click on the arrow to expand options. In this example, we are selecting the Geographies Option.
An overlay pops up
Use the pull down menu to select a geography option In this example, we are selecting State
Once we select the geographic type “ S tate” , we can select the state we wish search.
Click “Add to Your Selections”
Wisconsin will be added to Your Selections
Close the option filter overlay with the
We will narrow our search with the Industry Codes option. Click on the arrow to expand options.
An overlay pops up
We will use the search box in the overlay, enter our NAICS code for florists, and click
Check the box to select 453110 – Florists Click to add to Your S elections
Close the option filter overlay with the
Search Results Listings: There are 32 tables and other products that contain data for Florists in Wisconsin Click on any table to access that data.
This table gives the number of florists in Wisconsin in 2011 (307) the number of employees for all 307 establishments (1,595) and the annual payroll for all 307 establishments (20,346,000)
This table compares statistics between surveys completed in 2002 and in 2007
The next table shows data for product categories sold at Wisconsin florists.
What is NOT in the Census • Anything that would allow you to identify information for a specific individual or company. • If data for a search category allows you to guess data for a specific individual, that data will be suppressed. In that case, data will be replaced by or or or “the data you requested are not available” • The Census is confidential!
earch the Economic Census: http:/ / factfinder2.census.gov S
Your Competition
S ources for Researching Competitors: • Wisconsin Business Directory • Wisconsin Manufacturers Directory • Wisconsin Services Directory • Illinois Manufacturers Directory • Illinois Services Directory • ThomasNet.com • Reference USA
A Reference US
Reference US A Print and Download Limits • 25 at a time from a library computer • 10 at a time from a home computer
S earch Reference US A for • Competitors • Suppliers • Clients and prospects • Lost addresses and phone numbers
Accessing Reference US A • Reference USA is a subscription product. • You must visit a library that has a subscription to Reference USA, or • You must have a library card with a library that has a subscription to Reference USA
Reference US A is available at the following libraries in Rock County: • Eager Free (Evansville) Public Library • Hedberg (Janesville) Public Library
To Access Reference US A through Hedberg Public Library • Go to the Hedberg Public Library’s website at www.hedbergpubliclibrary.org • Click Research Tools • Then Research Databases • Select Reference USA • Type in your Hedberg library card number
“ A to Z Databases” is available at: A similar product • Beloit Public Library
Your Markets
First, think about the categories of people and/ or organizations who would purchase your product or service. Second, research those categories of people. Are there enough potential customers to support your business?
Potential Customers For Florists • Purchasers are adults • Purchasers have disposable income • Flowers are given as gifts to adults within a specific time frame and geography • Floral displays purchased for special events within a specific time frame and geography • Floral displays purchased by companies or organizations to impress their customers
urvey Consumer Expenditure S US Bureau of Labor Statistics www.bls.gov/ cex/
More resources for business Bureau of Labor S tatistics http:/ / www.bls.gov/ audience/ business.htm#industry
Examples of useful BLS statistics for businesses • Consumer Price Index Escalation Guide • Producer Price Index Escalation Guide • Employment Cost Index Escalation Guide • Employer Costs for Employee Compensation Report • Employee Benefits in Private Industry Report • International Labor Comparisons
tates Census Population Census United S
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