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Market Research for Business Plans

When you’re starting your business, it is vital to conduct thorough market research to gain a deep understanding of the market you are starting a business in. Effective market research and industry analysis are one of the most fundamental keys to success and a vital part of every business plan.

The Importance of Market Research

Market research and industry analysis is a fundamental part of the business plan and is a necessity when preparing to launch a startup and maintain a healthy new business. Market research is the process of gaining information about the targeted industry, which every startup will strongly benefit from. This is one of the first and most important reasons to do a business plan.

With effective market research, you can assess factors such as the need for your service, the importance of external driving factors, a product’s likelihood to sell, the target demographics, and desirable locations. Effective research of the industry that you’re intending to enter is essential to ensure your startup is sustainable and heading in the right direction, hence why it is such an essential part of your business plan (or what we like to call your roadmap).

In order to take any business idea to the next stage and realise your startup, it is essential to understand the industry, using reliable information, and prove the opportunity. When undertaking any business project, whether it be developing a business idea or producing a new service, it is essential that an entrepreneur is realistic when assessing whether the startup will be a success. The key to market research is gaining perspective and being informed, enabling decision-making to be undertaken to its best ability. As every entrepreneur will know, starting a business is taking a step into the unknown; it is, therefore, essential to supply your startup with as much information and data as possible.

What We Offer

At Startup Manufactory, we deliver thoughtfully designed, effective and thorough market research; specialising in market research and industry analysis for London startups and those developing new products and services. We offer a seamless blend of qualitative and quantitative market research, employing the best choice of methodologies and industry analysis techniques to meet the needs of our clients. Our bespoke market research service helps our clients to understand and succeed in an ever-evolving environment.

We understand the importance of effect market research when developing the business plan in order to drive decisions and help you profit through a deep understanding the industry. Therefore, our experts deliver market research in an extremely thorough, yet digestible manner as part of your business plan. We deliver bespoke, in-depth, industry analysis, researching the size of the opportunity, key competitors, and the industry landscape. We also understand that each startup is different and all market research will be individually tailored and focused to what is most suitable for your startup and business plan.

We help you make the clear decision through reliable and comprehensive market research, allowing for the most effective assessment of opportunity attractiveness and business planning. Effective market research and industry analysis are imperative to understanding your landscape and building strong foundations for your company, giving your startup the best possible chance for great future success.