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BA 3141 - Small Business Management (Wieczorek)

Assignment

Assignment 4:  Find Your Industry Code

This is your preliminary industry research.  You will use this to build upon and create a narrative for your final mini plan. If you are having issues with the resources provided in the guide or finding information any of the librarians can assist you. 

Name:  __________________________________

BA 3141 Section: ___

What is Your Business?

 

Scale (mass market or niche?)

 

Scope (local or global?)

 

Industry Code (NAICS and SIC)

 

Number of businesses in your target area(s)

 

Critical Issues

 

Industry forecast (growing/shrinking/stagnant)?

 

Industry trends/opportunities

 

Who are your main competitors?

 

Average sales volume

 

Number of employees per establishment

 

Average pay of employees

 

Mergent First Research

Mergent Intellect can provide you lots of detailed information about industries. Try going into First Research and doing some keyword searches about your business idea; for example, "coffee shops." Then you can click on the Industry Profiles to read more and see if that matches what you intend to do for your business. Within those reports, you can get a wealth of valuable information, such as the NAICS code, the SIC codes, the industry forecast, critical issues, business challenges, industry opportunities and financial information.

RefUSA

In RefUSA, you can do a myriad of searches for U.S. Businesses, private and public, including establisments. Try an advanced search to get the preliminary numbers you need for the number of businesses that match your NAICS / SIC. Use filters on the left like Keyword/SIC/NAICS, then City / State & Radius. 

It might be better to use SIC codes to narrow down the businesses you're looking at on RefUSA. For instance, with my example of "coffee shops," the NAICS code 722515 for Specialty Eateries will lump in places like the Philly Pretzel Factory and Baskin Robbins. The SIC code 581228 for Coffee Shops will limit to those we'd all consider an actual coffee shop, like Starbucks, Dunkin', etc.  

In the results, you can use Summary to see the Location Sales Ranges, Employee Sizes, and how many business records for each. You can also use Charts to visualize this data. Clicking individual companies on the results list will provide you with whatever details are available on these potential competitors.