Here at MasterPlans, we do extensive research for a plethora of industries using IBISWorld; “Our Industry Research Reports are a powerful business tool that provide strategic insight and analysis on more than 1,000 US industries. Extensive, objective and easy to digest, IBISWorld research offers the very latest content on every US industry to help you make better decisions, faster”. IBISWorld helps us generate strategic insight about your industry including; market research, relevant business information, market conditions, forecasting, competitor activity, industry risk and more.
Since I am getting married next month, I figured ‘Wedding Services in the US’ would be a fun industry to do a little more research on. With just a quick overview, I can see that the supply chain consists of; consumer spending, marriage rate, population etc as its key economic drivers. There are also many supply industries (and products) like florists, beauty, baked goods, photography etc. The Wedding Services has no major players, meaning the market is not saturated or monopolized by one company and concentration in this industry is low.
At a glance, we can see that Wedding Services is a 59.2 billion dollar industry, expecting a 2.2% growth from 2015-2020. Due to an improvement in our economy and unemployment rate, the industry is slowly back on the rise. Wedding Services is a mature industry, and will continue to be significant for Americans.
This is just a quick look at the extensive information we can find for your new business and its industry. Our writers spend hours researching the information you need for you and your business plan to be successful!
See more examples here.