Whether you’re researching a competitor, or maybe you’re thinking about running a business from the ground up. If you want to get a good idea on what that company is making, there are some things that you can do to get that potential information. Now, granted, you’re going to find that you won’t get exact numbers. The only way that you will get exact numbers is that if they are listed on the stock exchange.
While that situation is highly unlikely, there are some things that you can do to find out what a particular business is making. By following a few of the tips below, you will find that you can get some rather good estimates.
Get good estimates on Compete.com
If you’re looking to research a business that does it’s business online, you will find that Compete.com has a great tool that you can use for free. What you will do is input the URL, and from there, you’re going to be able to get a good traffic estimate.
Now, once you have estimate, what you’re going to want to do is take the traffic, and generally multiply it by 2%. This is usually the industry standard on what is going to convert for your site. As long as your traffic is targeted, you will find that the number could be even higher. Someone like myself, I tend to low ball the number, so that I’m not upset with the final numbers.
For example, let’s say that you’re researching a pet store online. Let’s say that Compete shows that they are getting 15,000 visitors a month. It’s safe to say that they convert 300 orders a month. Each industry is different, so you will need to figure out what the average order is. If the average order in the pet world is $35, that website is probably doing $10,500 in revenue.
Look for the company on Manta.com
If the company isn’t located on the Internet, and they do business in a brick and mortar based location, you can try looking them up on a website called, Manta.com. While the information here tends to be inaccurate with some companies, you may find that it could give you a good ballpark number. Be sure to take these numbers with a grain of salt.
These are the two tips that I generally use when I want to check out what a business is making, or a pretty good idea. Again, while you won’t get a good, exact number, it will hopefully give you a good ballpark estimate.