Market Research – What You Need to Know

November 16, 2016 Community

Setting up a business is not always easy. When preparing for this often daunting task, your local government agencies are here to help!

As many business owners will tell you, taking your business from the concept stage to the implementation stage requires reliable information on services, target markets, and future development, as well as many other areas. Here in Muskoka we don’t take this task lightly, and we have outlined below a number of resources provided by the municipalities in the region that are available to you as a business owner considering launching in Muskoka.

Community Profiles

Each community has their own spin on what is included in a community profile. However, most profiles will provide demographic and salary data for the area as well as some characteristics of each town. It is important to look at a variety of neighbouring towns to your chosen location, as your customers will happily drive within the region for a unique business. You can find the Community Profiles for the municipalities in Muskoka at the links below:fall-2015_jharnett-56

Projection Studies

These studies, often developed by the District of Muskoka, look at the long range projections for the area. Topics such as population growth, future development, long term housing and employment forecasts are included in the report. Check out the District of Muskoka’s Growth Strategy for more information on this topic.

Industry Studies

dsc_0219Studies of specific issues or industries are readily available to the potential business owner. Some of theses studies may apply to your business and others may not. Are you thinking of bringing you and your team of knowledge workers to the area? Consider taking a look at The Creative Economy in Muskoka report. Does your business hope to capitalize on the incredible amount of seasonal residents in Muskoka? Read the Second Home study. Many municipalities will have more information on specific industries in Muskoka, and all you have to do is ask.

Economic Developers

Maybe you would prefer to talk to someone in person or on the phone to get your information, rather than search online. Each community has a resource that can help you get the information you’re looking for about the area, whether it be available sites, market research or just a quick familiarization tour in the area. Feel free to reach out to us and let us know what you are considering, so we can help you find the best possible fit for your business. We are here to help you!

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