What you need to know
before you use the Plan-A-Biz tool
WHAT DOES PLAN-A-BIZ DO?
The Plan-A-Biz Suitability Tool assists entrepreneurs with business plan development by providing key demographic and business climate information for an area around a proposed or established business. This report is one of the many tools needed to make an informed decision about a business location. The user follows a simple set of steps to enter business type, proposed location, and minimum market characteristics. The resulting report summarizes the values of key demographic variables for the market study area, compared to the minimum values set by the user. The values are reported for 2005 and projected for 2010. Annual household expenditures for your business type are reported for the market area. The report includes a map of the market area and a traffic count map for a one-mile radius around the business.
KNOW YOUR MARKET TARGETS
Your independent research of ideal market conditions for your business type will make the Plan-A-Biz Report a more valuable tool. You may enter minimum values for the demographic categories to compare with the census projections to evaluate the suitability of your business location.
Do you know the answers to these questions?
- What is the geographic size (in miles) of your market area?
How far does your research suggest that people will travel to support your business?
While people might drive no more than a couple of miles to patronize a specific gas station or convenience store, they might drive 10 or more miles to shop at a home improvement or electronics store.
- How many persons or households need to be located within my market area in order for your selected area to be considered “favorable” for my proposed business?
If you are targeting a certain component of the population (i.e. persons of a certain age group, persons with a certain education level, etc.), then your research should give you an idea of minimum counts for your study area.
OTHER CONSIDERATIONS
The suitability report is intended for use as one component of an entrepreneur’s decision-making process regarding the establishment of a business. Other factors should also be taken into consideration prior to embarking upon such an important venture, such as:
- Your knowledge and qualifications related to the proposed business type (i.e. don’t open a restaurant if you have no knowledge of or experience in the restaurant industry).
- Your ability to make the necessary commitment of time and finances in order to achieve success.
- The overall “health” of the economy (on both a regional and national scale) at the time the business is proposed.
QUICK STEPS FOR GENERATING A PLAN-A-BIZ BUSINESS SUITABILITY REPORT
- Select a Business Category and Subtype.
- Select demographic variables and specify minimum values for study area.
- Select a business expenditure category or detail.
- Specify size of search radius (study area) and select business location.
- Generate Business Suitability Report.
- Review the statistical summaries and maps and adjust the criteria if necessary.
- Print or Export the report.
- Participate in user survey.
* Use the Help and Instructions link at any time in the process for detailed information and guidance.
NEED MORE BUSINESS INFORMATION?
You may find useful information from trade organizations related to your proposed business or from the Small Business Resource Links (www.scacog.org/rlf/links.html)
Please visit the ACOG web page to view the comprehensive Fact Finder database or purchase detailed radius reports, census maps, and community profiles!
PLAN-A-BIZ DATA SOURCES
The demographic information presented in the Plan-A-Biz suitability report comes from Claritas Incorporated, projected from Census 2000 figures. Traffic counts are provided by the SC Dept. of Transportation. The Demographic Characteristics represent a summation of the information for the census block group units within a radius around the specified business location. A block group is included in the tally if its geographic center (centroid) falls within the radius circle.
DISCLAIMER
The SC Appalachian Council of Governments and the Appalachian Development Corporation does not guarantee or warrant the accuracy, completeness, or timeliness of, or otherwise endorse the information presented in this report. You should always seek the assistance of a professional for advice on business or financial matters. In no event will the SC Appalachian Council of Governments or the Appalachian Development Corporation be liable to you or anyone else for any decision made or action taken by you based on information presented in this report.
