Market Analysis
Business Plan
Describe the Industry and Your Competition
- Industry resources
- Bureau of Labor and Statistics (Audiology) – data on the growth of the audiology profession
- Bureau of Labor and Statistics (SLP) – data on the growth of the speech-language pathology profession
- U.S. Census data
- ASHA resources to assist with competition
- Member counts – find out how many certified SLPs or audiologists are in your state; has general breakdown of where members are working to give you a sense of how many of that state number may work in your setting
- Member directory – use to find other members in your city who are providing services in a similar setting as you
- ASHA ProFind – use to find others who are listed as working with the same age range as you intend to work- not an exhaustive list
- Other resources to identify competition
- Local phone listings
- Internet search of practices in your area
- Attend local small business meetings and network to find out who else in working in your area
- Attend state or local speech and hearing association meetings; join the private practice section if one exists
- SCORE competitive analysis template
- Questions About Your Competition
Identify your Target Market
Who do you plan to serve?
- Children
- Infants and toddlers
- Preschool
- School-age
- Adults
- Specific disorders only (e.g., voice, stuttering, cochlear implants)
- Specific practice areas only (e.g., reading, accent modification, pragmatics)
- Payer source (e.g., Medicare, Medicaid, private insurance, private pay)
Identify your Anticipated Market Share
What percentage of the population you've identified do you plan to serve? See how to calculate market share.
