Frequently Asked Questions

Key Concepts

What is included in Location Strategy?

Location Strategy is the #1 factor that determines the success of a business. It affects important aspects of a Business’s Strategic and Operational Plan and drives all investment, marketing, and personnel decisions. There are many factors that Locate considers within Location Strategy, including competition ratios and market saturation, demographics, future growth potential, building and office strategy, and much more. 

What is a "Pocket"?

A “Pocket” is a term that indicates a potential market for a practice, normally made up of one or multiple CBG’s. We routinely find pockets where the competition ratios are high with Average Household Income levels greater than a threshold derived from your ideal target patient.

What are Strategic Moves?

Strategic Moves is a general term used to describe various business situations and actions an existing practice can consider or implement to evaluate. They include the following:

  • Evaluate or justify a potential location
  • Purchase a practice with the highest growth potential
  • Consider relocating
  • Consider adding an office
  • Consider buying a specific building
  • Consider leasing a specific building
  • Consider renewing your lease or relocating
  • Consider expanding your current location
  • Purchase a practice at a fair price based on market
  • Consider hiring an Associate and expanding
  • Consider selling a practice
  • Join a Practice as a Partner, Employee or Associate
  • Speed up the location decision process

What is your five-step location search process?

To save you time, money, and frustration, our process will prioritize the most important factors in your Location Search. This typically begins with Competition Ratios. You may have a location with great demographics, but if the market is saturated, it will be difficult to be found even with great marketing. Therefore, it may not make sense for you to pay for Demographics until the Ratio is ideal and the area is a good fit for your practice and family. Only after passing those benchmarks does it make sense to invest in the Demographics Deep Dive to find your perfect practice location. 

Click here for Our Method and 5-Step Process

What is a Competition Ratio?

Competition Ratios are calculated by dividing total population (numerator) by the number of practitioners (denominator).

What are Census Block Groups?

A Census Block Group (CBG) is a geographical unit used by the United States Census Bureau. It is the smallest geographical unit for which demographic data is published.

Typically, Block Groups are very small and include a population of 600 to 3,000 people. There are 239,780 CBGs in the USA.

In every product, Locate sums the number of practitioners and all demographic data for all of the CBGs (including partial CBGs) in the search area to provide the most precise reflection of neighborhoods, natural areas, and geographical boundaries for true market reflection.

A typical suburban area in a 30-Minute Drive Time Search Area contains 200-600 CBGs.

Click here to learn more about Locate’s Census Block Group Technology.

What is a Partial Census Block Group?

Locate’s Platform allows for Partial CBGs which are the percentages that fall within the boundary of the search area. This means even more precision as this applies to demographic and competition calculations done in the platform.

Click here to Learn More

Is the Census Data only updated every 10 years?

No.  Although there is a formal census every 10 years, demographic data updates are released normally every year based upon new forecasts, surveys and estimates.  The census is designed to reset the forecasts back to an actual count and then the 10-year cycle starts again.   We apply those annual updates to ensure the most up-to-date demographic information is available.

What is the Locate™ Platform?

The Locate™ Platform is a proprietary online interactive system that includes the following:

  • Demographic & Business Data – Current and 5-Year Forecasted Information
  • National Dental Practitioner Database
  • Census Block Group Technology
  • Mapping Integration
  • Radius, Drive Time, User-Drawn, and Custom Polygon Search Areas
  • Competition Ratio Analysis with IdealRatios
  • Non-Compete, Non-Licensed Data Exclusion from Search Area
  • Practitioner Management Tool
  • Standard Geographies
  • Robust Product / Permission Capability
  • API Ready
  • Customizable to include Customer Data
  • SaaS Capability
  • Self-Service Ordering and Delivery Capability

Will you keep our discussions and my reports confidential?

Yes. We understand that confidentiality is of the utmost importance and we will never disclose any discussions, conclusions or reports to anyone without your permission.

What is the return policy?

All reports are a snapshot in time. Therefore, due to the digital nature of the reports and the fact that the data changes frequently, returns and refunds are typically unavailable. However, our policy is to provide unmatched customer satisfaction. If something isn’t right, or on the rare occasion that there is local knowledge that should be incorporated, please contact us. If it is our error, we will fix the study at no charge. Unfortunately, we have no control over the data results, so dissatisfaction with the results is out of our control.

Live Market Finder

What do I need to prepare for my live session?

Compile a list of regions or areas you’d like to explore during your live session to find a potential market with your ideal Population, Average Household Income, and Practitioner Competition Ratios (when applicable). Be prepared to take notes; there will be no reports provided in this live session.

Your session will take place via Teams or Zoom.

Are competition ratios included?

Yes, Practitioner Competition Ratios are available for all supported industries.

What demographic factors are included?

Demographic factors used for the Live Market Finder and Population and Average Household Income.

Where does the demographic data come from?

We obtain demographic data from a top 3rd party Demographic company that takes the raw census information, annual updates, and forecasts and then packages it into a format that companies can utilize.  It is the same data used by everyone in the USA.

What is an IdealRatio?

A IdealRatio is a proprietary competition ratio standard for each practice type that indicates the point where Locate considers a market to be saturated. Competition Ratios are calculated by dividing total population (numerator) by the number of practitioners (denominator). Locate compares the actual ratio for a given market to the IdealRatio to measure the degree of market saturation. For example, the IdealRatio for a General Dentist is 2,000. An actual ratio higher than 2,000 would generally indicate the market has potential for an additional practitioner(s). A ratio below 2,000 indicates the area is oversaturated and strategic plans should be carefully evaluated.

What is the turnaround time?

After purchase, your Locate Specialist will be in touch within one to two business days to schedule your appointment. The scheduling of the session varies based on the availability of the participants.

Location Demographics

Do you offer free sample studies?

Yes. Click here to download a free sample of the Location Demographics study here.

What are the best search parameters?

The best search parameters for your results will depend on if your location is rural, suburban, or urban. Major highways, bodies of water, and railroads may also affect your search parameters. We highly recommend scheduling a free consultation with a Specialist who will provide recommended guidelines based on your situation. Contact us today. 

Why do I need two Search Area Methods?

Two sets of Search Area Parameters are needed to get two sets of data for that Market.

We recommend the first parameter to reflect the market close to the base location – for example, a 3-mile radius for a typical suburban area.

The second parameter should approximate the overall market – for example, a 15-minute drive time. For either set, choose radius, drive time or custom polygon.

Custom polygons are hand-drawn to eliminate nonapplicable results due to noncompete restrictions, state lines, geographic factors, highways, natural boundaries, bodies of water, etc.

If you are unsure of the best search parameters for your situation, give us a call. It’s free. 

What demographics factors are included?

Demographic data includes:

  • Total Population
  • Population by Age Range
  • Population Change by Age Range
  • Average Per Capita Income
  • Average Household Income
  • Households by Income Brackets
  • Households Change by Income Brackets
  • Average Household Size
  • Total Households
  • Total Families
  • Average Family Size
  • Housing Units Breakdown
  • Total Housing Units Change
  • Average Value of Owner-Occupied Units
  • Population by Race
  • Hispanic Percentage of Total Population
  • Total Number of Businesses
  • Total Number of Employees
  • Total Sales
  • Retail Data

Where does the demographic data come from?

We obtain demographic data from a top 3rd party Demographic company that takes the raw census information, annual updates, and forecasts and then packages it into a format that companies can utilize.  It is the same data used by everyone in the USA.

What is the turnaround time?

We strive to deliver your report within two to three business days.

Delivery time may vary based on the complexity of the order, the density of the report location, the inclusion of premium services, and many other factors.

Expedited delivery is available. Please consult with your specialist to make arrangements.

Your PDF results will be emailed to the address associated with your order when complete.

The Market Study

Tell Me More About a Market Study.

The Market Study is Step #2 in our 5-Step Process. It provides an overview of a region where the practitioner has an interest in establishing or buying a practice. We examine the practitioner competition for each Census Block Group (CBG) and provide a detailed report with the top 10, 15, or 20 CBG’s (with addresses). The report includes the “patient to practitioner” ratios (Competition Ratios) along with maps showing the location of the most promising locations or Pockets within the selected search area.

Do you offer free sample studies?

Yes. Click here to download Free Sample – The Market Study a free sample of The Market Study here.

What are the best search parameters?

The best search parameters for your results will depend on if your location is rural, suburban, or urban. Major highways, bodies of water, and railroads may also affect your search parameters. We highly recommend scheduling a free consultation with a Specialist who will provide recommended guidelines based on your situation. Contact us today.

What is a "Pocket"?

A “Pocket” is a term that indicates a potential market for a practice, normally made up of one or multiple CBG’s. We routinely find pockets where the competition ratios are high with Average Household Income levels greater than a threshold derived from your ideal target patient.

What is an IdealRatio?

A IdealRatio is a proprietary competition ratio standard for each practice type that indicates the point where Locate considers a market to be saturated. Competition ratios are calculated by dividing total population (numerator) by the number of practitioners (denominator). Locate compares the actual ratio for a given market to the IdealRatio to measure the degree of market saturation. For example, the IdealRatio for a General Dentist is 2,000. An actual ratio higher than 2,000 would generally indicate the market has potential for an additional practitioner(s). A ratio below 2,000 indicates the area is oversaturated and strategic plans should be carefully evaluated.

How do you validate practitioners in a search area?

We utilize the best national practitioner database possible, as well as validating the existence of practitioners using various manual and internet tools to materially ensure the accuracy of competition ratios.

How do multi-office practitioners affect competition ratios?

When reviewing competitive practitioners for a report, Locate can assign practitioners to more than one location when applicable. For example, if an orthodontist is only practicing out of one office in a search area 2 days a week, we can adjust this from showing as 100% in the search area to 40%. This more accurately reflects the practitioner’s impact on the market.

What demographics factors are included?

Demographic data includes Population, Average Household Income, and Projected Population for each Census Block Group within the search area.

Where does the demographic data come from?

We obtain demographic data from a top 3rd party Demographic company that takes the raw census information, annual updates, and forecasts and then packages it into a format that companies can utilize.  It is the same data used by everyone in the USA.

What is the turnaround time?

Delivery time may vary based on the complexity of the order, the number of top CBGs requested, the composition of the search area, the inclusion of premium services, and many other factors.

We strive to deliver your Market Study within 5-10 business days of purchase. Expedited delivery is available, please contact us to make special arrangements.

Your PDF results will be emailed to the address associated with your order when complete.

The Location Study

Tell Me More About a Location Study.

The Location Study is Step #4 in our 5 Step Process. It analyzes the market competition for a specific location or address within a selected distance, drive time or custom polygon search area. We provide a detailed report that includes a deep dive on demographics with 19 current Demographic Factors, 5-year forecasted data and maps showing the area and location of competitors.

Do you offer free sample reports?

Yes. Click here to download a free sample of The Location Study here.

What are the best search parameters?

The best search parameters for your results will depend on if your location is rural, suburban, or urban. Major highways, bodies of water, and railroads may also affect your search parameters. We highly recommend scheduling a free consultation with a Specialist who will provide recommended guidelines based on your situation. Contact us today.

Why do I need two Search Area Methods?

Two sets of Search Area Parameters will help in determining a comprehensive overview for your specific location.

We recommend the first parameter to reflect the market close to the base location – for example, a 3-mile radius for a typical suburban area.

The second parameter should approximate the overall market – for example, a 15-minute drive time. For either set, choose radius, drive time or custom polygon.

Custom polygons are hand-drawn to eliminate nonapplicable results due to noncompete restrictions, state lines, geographic factors, highways, natural boundaries, bodies of water, etc.

If you are unsure of the best search parameters for your situation, give us a call. It’s free. 

What is an IdealRatio?

A IdealRatio is a proprietary competition ratio standard for each practice type that indicates the point where Locate considers a market to be saturated. Competition ratios are calculated by dividing total population (numerator) by the number of practitioners (denominator). Locate compares the actual ratio for a given market to the IdealRatio to measure the degree of market saturation. For example, the IdealRatio for a General Dentist is 2,000. An actual ratio higher than 2,000 would generally indicate the market has potential for an additional practitioner(s). A ratio below 2,000 indicates the area is oversaturated and strategic plans should be carefully evaluated.

How do you validate practitioners in a search area?

We utilize the best national practitioner database possible, as well as validate the existence of practitioners using various manual and internet tools to materially ensure the accuracy of competition ratios.

How do multi-office practitioners affect competition ratios?

When reviewing competitive practitioners for a report, Locate can assign practitioners to more than one location when applicable. For example, if an orthodontist is only practicing out of one office in a search area 2 days a week, we can adjust this from showing as 100% in the search area to 40%. This more accurately reflects the practitioner’s impact on the market.

What demographics factors are included?

Demographic data includes:

  • Total Population
  • Population by Age Range
  • Population Change by Age Range
  • Average Per Capita Income
  • Average Household Income
  • Households by Income Brackets
  • Households Change by Income Brackets
  • Average Household Size
  • Total Households
  • Total Families
  • Average Family Size
  • Housing Units Breakdown
  • Total Housing Units Change
  • Average Value of Owner-Occupied Units
  • Population by Race
  • Hispanic Percentage of Total Population
  • Total Number of Businesses
  • Total Number of Employees
  • Total Sales
  • Retail Data

Where does the demographic data come from?

We obtain demographic data from a top 3rd party Demographic company that takes the raw census information, annual updates, and forecasts then packages it into a format that companies can utilize.  It is the same data used by everyone in the USA.

What is the turnaround time?

We strive to deliver your Location Study within two to three business days.

Delivery time may vary based on the complexity of the order, the density of the report location, the inclusion of premium services, and many other factors.

Expedited delivery is available. Please consult with your specialist to make arrangements.

Your PDF results will be emailed to the address associated with your order when complete.

industry specific

How are Dental Practitioners Categorized?

The Dental industry report classification options include General Dentists and the following specialists:  Pediatric Dentist, Prosthodontist, Oral Surgeon, Endodontist, Orthodontist, Periodontist and Other.

 

How are Medical Practitioners Categorized?

The Medical industry report classification options include the following: 

Primary Care*
Cardiology
Chiropractic
Dermatology
Gastroenterology
Nephrology
Neurology
OB/Gyn
Oncology
Orthopedic
Pediatric
Plastic Surgery
Podiatry
Psychiatry
Pulmonology
Rheumatology
Urology

*Primary Care includes Internal Medicine and Family Practice providers as well as other specialized staff in this category who can bill insurance, such as Nurse Practitioners and Physicians Assistants.  It also includes any other specialties not listed above.

How are Optometry Practitioners Categorized?

There are two major categories in the optometry industry: Optometrist and Ophthalmologists. For our reports, Ophthalmologists includes specialty areas such as: Retina Specialists, Glaucoma Specialists, Corneal Ophthalmologists, Pediatric Ophthalmologists, Ophthalmic Plastic and Reconstructive Specialists, Neuro Ophthalmologists, etc.

How are Veterinary Practitioners Categorized?

Due to the unique nature of the veterinary field, it is often difficult to distinguish whether a veterinarian serves at a clinic or at an Animal Hospital. For purposes of classification in our report, veterinarians who serve in Animal Hospitals will be classified as Animal Hospital Veterinarians. Emergency Services Veterinarians will be classified accordingly based on the practice name. All other veterinarians except for specialists will be classified as Veterinarians.

We are here to help.

Contact us today for product and search parameter recommendations based on your unique situation and goals. Location solutions made easy.