We understand making informed decisions is crucial for success. Backed by a team of seasoned market research professionals, we delve deep into market dynamics, financial projections, and operational considerations to deliver insights that empower you to make confident choices.
Our team analyzes demographic trends of populations, age, genders, incomes, household sizes, consumer expenditures, and other vital data from our proprietary software. A market area can be pinpointed to a radius around a site, counties, and even Census Tracts. This helps a client understand potential size and profiles a pool of audiences to attract.
This is a comprehensive overview of up to 5 key competitors in the market. A competitive assessment reviews their strengths, weaknesses, service offerings, products, differentiators, and other factors that would impact the success or failure of a new market entrant.
This is an online survey targeted to current and potential users or visitors to the location. This includes 15 questions and lasts 3 to 5 minutes. The survey will cover interest in the location, appeal, likelihood to use, demand, and other key objectives that will impact the feasibility of the concept.
Additionally, our experts also conduct advanced price point and demand analysis. This advanced service involves predictive analytics and modeling, as well as sophisticated pricing models to identify price elasticity and optimal price points.
The final report explains the potential successes and barriers of a new product, service, or location coming to market through an independent and objective lens. Recommendations to increase appeal and demand are also included in the report. These assist with improving operations, marketing, and strategy around the new concept.
Before investing time and money into a new business idea or location, conduct a custom market analysis to learn whether a market is attractive or not for your new concept. The report can also equip you with critical information to share with investors and financial institutions if you’re planning to secure funding.
Our full-service feasibility studies typically range from $10,000 to $15,000 in total depending on the components selected. Typically this includes a demographic analysis, competitive assessment, market survey, predictive analytics, and a custom market research report (as referenced above). This is a popular package for construction companies, commercial real estate firms, and developers.
We understand that one size does not fit all when it comes to feasibility studies. That’s why we offer custom pricing solutions designed to accommodate the unique needs and budgets of our clients.
Whether you’re a startup looking for a cost-effective analysis or an established enterprise seeking an in-depth study, our flexible pricing options ensure that you receive the level of detail and analysis that aligns perfectly with your financial objectives.
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