1. Research the market research industry and its trends: Understand the current state of the market research industry, including who are the main players and how do they operate. Consider potential challenges as well as advantages of starting a firm in this field.
2. Develop a business plan: A good business plan should cover your mission statement, goals and objectives, target market, financial projections, marketing strategy and operations plan.
3. Find the right team: You need experienced professionals in the market research industry to run your business successfully. Consider hiring a mix of people with different skillsets including data analysts, statisticians and other research experts.
4. Create a brand and website: Establishing a strong online presence is key for any business. Develop a unique brand identity, create a website and set up your social media accounts.
5. Design research plans and processes: Identify what methods you’ll use to conduct market research, such as surveys or focus groups. Determine how you will collect and analyze data, as well as how you’ll present your findings.
6. Prepare for legal requirements: Obtain all the necessary licenses and permits to operate a business in your region or state. Make sure that you are compliant with any industry-specific regulations and laws.
7. Source customers: Develop a strategy to reach potential customers and build relationships with them. Consider inbound marketing tactics such as creating content and SEO, or look into outbound tactics like direct mail, advertising and cold calling.