 Hey there, Chad Banger here for Ohio Urchie Libraries. If you're investigating the feasibility of opening a particular business in a particular location, you'll definitely want to benchmark your potential company or even your existing company against industry financial ratios and industry trends in that area. A database called BizMiner allows you to find industry financial ratios averaging different companies in the area in your particular market or your industry. It allows you to do a competitive market analyzer and allows you to get localized industry market research reports. This particular example, I'm using the example of a sporting goods store or a fishing store. You can use BizMiner to find information on like hiking stores, camping stores, different areas in the sporting goods market. So this video shows you how to use that information and really dial it in to your local market using BizMiner. So here you go. So what BizMiner will give you is basically you can find industry financial ratios for an industry in a particular area or nationwide or by state or even by city. You can find a local industry market research report or you can find a competitive market analyzer. And these are three reports I've done for the Washington area and also Spokane, Washington on the fishing equipment stores industry, so I'm going to show you how to find these reports here in BizMiner and what kind of information they contain in them. A couple of different ways to search BizMiner. One way you can go up here and just search for fishing and you can see it will bring up things like fishing. Fishing manufacturers, fishing preserves, fishing tackle wholesale, here's fishing equipment stores. Now what I might also encourage you to do rather than doing that is also to browse just by clicking industry search here. We'll take you into the overall industry category here and because we're talking about stores that's going to be in a retail trade and go in there. You can see there is, if we scroll down, here is a sporting goods store category and scroll down some more, here is sporting goods stores. I'm just going to click on the parent category here and you can kind of see the things that are covered. So you can see there's like water sports equipment, swimming pool, diving equipment. So if you're interested in any one of these kind of different establishments you can click on that and get some more data. For my particular search I'm interested in the fishing and so we'll scroll down and here is fishing equipment stores and we'll click on show industry reports. You also want to notice how many establishments are there. The number of establishments can vary depending on how niche the market is. In this particular case there's not a whole lot of fishing stores in the U.S. So as we get down to the city level data we might only be dealing with like a dozen or so establishments depending on the size of the town. So we're going to click on show industry reports here and this will take us to a screen where we can then browse by whatever kind of criteria we're looking for. Now I'm going to look for, I'm going to show you how to find the industry financial profiles, the industry market reports and the competitive market analyzer. So for industry financial profiles all you're going to do is go and select your area. I'm going to scroll down and look at Washington and here's the Washington area. Now I tried Spokane Washington here and it pops up and says sorry there's no reports available for this area so I'm going to back it out a little bit. And instead of doing Spokane Washington I'll just do Washington State here. Basically because the number of establishments got too low they couldn't really do a financial profile for that. Once you do your state or your location you can select the sales class. This is kind of handy if you're looking for, you're going to start a smaller company and you want to compare it against smaller companies in the area. Looks like most of these companies are pretty small in that most of the firms are within $600,000 or less so we'll just do the industry wide average to give us a little more data to look at. And we'll click access now and that's going to go and put it in our cart for us. Okay so I'm going to show you how to find the other ones. All we're going to do is click on HTML or PDF to access these. But I'm going to show you how to find the other ones before we actually show you what's in those reports here. The industry market reports and the competitive market analyzer both work the same way so I'm just going to show you real quickly how to find these. If you select a market area here it's going to take you to the next screen where you can go and say let's do, I'm going to select the state first rather than getting a national trend and do Washington State. It's going to load the counties for us and we can select a county in this case I'm going to choose Spokane and you can see there's only 10 operations in Spokane County, Washington. That's okay it's still going to find us some good data there we can click access now and once again it's going to put us into our reports here. So to show you the different kinds of reports we're looking at the industry financial report is a big report probably the biggest of what's there and basically it gives you a way to kind of benchmark your company your potential company or existing company based upon industry averages on income and expense profit and loss statements things like that so lots of different ways you can look at that for for financial purposes and things like that. We're looking at the HTML report here which is kind of nice because it gives you a nice definition if you hover over the different categories here. Okay so that's the industry financial report for the statewide fishing equipment stores industry the industry market research report a little bit more small smaller this is looking at 10 establishments in the Spokane area and here you can kind of see what kind of things we're talking about industry vitality trends sales trends by employment class things like that so if you just click on one of these guys here it'll take us down to where we can see the sales growth rate for this particular industry so not too vital right now so it might be something you want to look at when you're determining your feasibility of opening that business there. The competitive market analyzer works very similarly again we're looking at the HTML version it's kind of nice to be able to click and go to a particular area here so if we look at if we scroll down it gives you some basic business and consumer environment information and it will go in and talk about how much the the market for the store is and things like are for the for the overall markets here we say the fish equipment stores capture $16 in sales per personal income earn a unit and it's actually below US national average of $26 so might be something to consider there so all these three reports will be great to look at when you're looking at your feasibility analysis of opening a fishing store or sporting goods store whatever kind of outdoor apparel outdoor equipment store that you have in a particular area. Hope this video helped you with your research should you need more help look for the contact link on the business blog we got to help you any way I can take care and have a great day.