When you begin planning for expansion, identifying where to grow is key.
You need to know as much as you can about an area before you invest your time and money in a location. ASBTDC market research helps you assess the potential of the market(s) you are considering.
Where to Expand
Here are some tools we offer to help you decide if an area is right for your business.
- A customized Comparison Report showed similarities and differences between your current and proposed markets.
- A custom-designed competitor listing will help you consider the competitive environment in the area where you’re looking to expand. The competitor listings we provide are more than a standard list of businesses in your industry. We use keywords relevant to your business to prepare a more complete picture of the competitive environment.
- The Demographics Dashboard is a custom-designed research product available exclusively to ASBTDC clients. This tool shares demographic characteristics of two geographic areas side by side in a simple format. In addition to basic population and household income data, we include age, income, education, and other information. To make this report even more valuable in understanding the two areas, your dashboard can also incorporate unique variables relevant to your business.
Sample Demographics Dashboard Report
The custom variable in this sample is the percentage of households that own a cat or dog, useful data for pet-related businesses such as groomers and veterinary clinics.
Download the Sample Demographics Dashboard Report
Request Market Research Resources for Expansion
Are you planning to open another location? Let an ASBTDC consultant show you how our market research can help you make data-driven decisions at each step.