Soap Warehouse Blog

Do a Competitor Comparison Chart to see where your business stands in your market.

First list who your competitors are by name and address. Do they compete with you in just one area, for just one service or type of customer? Do you only have competition with one other business for one service by five for another? You might want to switch your service emphasis more to the one with less competition for a possible larger profit?

Not all of you competitors may be easily recognizable. They may not be listed in the yellow pages, have a physical office, or even have applied for a business license that you can reference.

Look in your own mail for coupons for those advertising to do your services, keep your eyes open for signs, vehicles, other print advertisements. Check on line by doing a search by service name and location name. For example: "Roof Cleaning" + "Snellville, GA". I just did and got over 4,000 results, basic "pressure washing" was even higher, 6,780. But more specific services like "exterior house washing" + "Snellville, GA", got only 49 results. So who's name keeps coming up? Those are your competitors.

Just because some may be small does not mean that they are not a threat to you. Nor does the fact that your area might have some big players mean that there is not enough business for you all. What you need to find out is what each player is doing so that you can do it better and gain a larger and hopefully a more profitable share of what is out there.

Here is an example analysis grid. Make changes to headings and cell sizes as needed. For example: Many may not need a selection row. Fill out the me section to compare. You may also have to break down some cells in to sub cells, like "Service" in to multiple services. You might also first fill in what the competitors have to be better able to fill in ours to match "apples to apples". Do not be afraid if you find that you have something no one else does. That may not be bad at all but in fact a great marketing and value point for new customers.

Table 1: Competitive Analysis 

After you finish filing it out you will have a better understanding of who your competition is, what a customer may see in them and how to improve your postion to these customers to gain their business.