 Hey there, Chad Bond, you're here for High University Libraries. I have several hundred business students who are currently doing a feasibility analysis of opening a fitness center or a fitness club in Indianapolis, Indiana. In order to really do a good job with this project, they're going to need to understand how good the local industry is there. And so they can use a database called BizMiner to get things like industry financial ratios, they can get things like startup risk, they can get a competitive market analysis report and stuff like that, and get data that looks just like this. Now this video is going to show you how to use BizMiner to find industry analysis and information for the local market in Indianapolis. What you learn here can also be applied to other industries throughout the U.S. as well. So here you go. So when we first get to BizMiner, we need to find the industry that we're looking to study. And we can do that a couple of different ways. We can actually go over here and type in our industry so we can type in fitness there. Or we can click on industry search here and actually use either type in the NAICS code here. Or we can choose to browse by the broad industry category. So I want to do the hard way to just kind of show you the types of content you actually have within the category here. So we're going to go Arts and Entertainment Recreation here. And you can see here is 7139, Other Amusement and Recreation Industries. And then here is the Fitness Recreation Sports Centers. We'll keep going. And so here we have either Fitness Recreation and Recreational Sports Centers or Physical Fitness Clubs and Centers. So I'm going to do that one there and click Show Industry Reports. So the next page, we have lots of different ways to choose our content. I'm going to focus primarily on the industry financial profiles, the industry market reports and the competitive market analyzer. And since we're using this for a particular location, we're going to choose Indianapolis, Indiana. And there it is in our list. And we'll do five year. And if you want this, you can just click Access Now. Okay, it's going to ask us for a sales class before we do that. We've got to wait for the thing to load there. And it's going to ask us for a sales classification based upon the local information that's available there. And since we're just starting out with our business, we're going to choose the smallest sales class we have there. It looks like most of the bulk of the firms are in that sales classification anyway. Let me click Access Now here. And so it's going to load us up. Here's our industry financial ratios here. I want to go and actually do the same search for these sorts of things before we actually look at the report here. So I'm going to go back real quick. And if we wanted to, we can look at the industry market reports as well. And again, we would choose Indianapolis, Indiana. All right, and that finds us 180 operations in the Indianapolis metro area. And you can also drill down by county or zip code as well and click Access Now to get your report. Likewise, you can also do the competitive market analyzer. So if you click there, it's going to ask you for the location. And we will do Indianapolis again. And we go down and click Next. And in this case, it's going to ask us what sales classification we want to compare our group against. We're going to compare it against other firms the same size. And these are national firms now. So it's going to compare it against those firms. You'll click Next there. And then I'm just going to choose Small Businesses as well. And then do Next again. And then it's going to ask you to review that. We can click Access Now. And it's going to put that information within the same place in my reports here in BizMiner. So now we're going to look at each individual report to kind of show you what you can find in them for your purposes of analyzing opening a franchise of a fitness center in Indianapolis, Indiana, or another location. So this is the first report we looked at. This was the Industry Financial Report. And basically what it gives, it's a way to kind of benchmark your company based upon income and expense, profit and loss, and things like that against other industry averages of like size companies in the area there. So you can kind of see, look at trends and how the different companies are doing altogether at average together, and things like that. So we can see basically looking at your profit and loss percentages. And then we get down and look at things like, if we scroll on down here, your balance sheet, and things like that. So it's a great way to kind of benchmark your company against other companies industry averages in the area. The second report is the Industry Market Report. And what this basically looks at, it looks at things like failure rates, it looks at industry vitality, and things like that. So in 10 pages, you basically get a nice discussion of how healthy the industry is, how likely it is for a startup to succeed, and things like that. So here we have industry startup trends and things like that within this report as well. Almost all the way down to the very bottom of this report, you can see that there is an industry entrepreneurship performance. And it kind of rates how likely a business that starts up is going to succeed in the area, and it kind of gives you an idea. So here we have, looks like in this particular area in Indianapolis in this industry, there's a startup firm failure rate of 50% based upon the data they've collected. So you can be the judge about whether it's going to be successful or not, or you can kind of outline what it's going to take to be successful based upon some of the information in this report. The final report we're looking at here is the competitive market analysis, and basically what this goes through and looks at all these different areas. So we're looking at economic background, regional trends, things like that. So they're taking lots of information here and put into a nice, easily digestible format here. So it covers things like the general business and consumer environment, and lots of other information as well. Of particular interest might be the competitive market concentrations and vitality section here that gives you an idea for market penetration and industry vitality. So here it says that basically it looks like the physical fitness clubs and centers industry capture $86 in sales per personal income earning unit within the market area, and that's below the national average of $105. So you'd be the judge about whether it's going to be a healthy market for you to move into in this area. So a good way to kind of get good information to figure out the vitality of your particular market and your industry. Hope for this video helped you better understand how to use the database and how to better understand the fitness center market. Should you need more help, look for the contact link on the business blog. We'll be glad to help anyway. I can't take care and have a great day.