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?
