Liquor and Distilleries Guide
Liquor and Distilleries GuideWelcome to the Liquor and Distilleries Guide
What is the Liquor and Distilleries Industry?
According to Canadian Industry Statistics, this industry comprises establishments primarily engaged in distilling liquor, except brandy; blending liquor; or blending and mixing liquor and other ingredients.
In 2020, there were 277 such operations across Canada, with 96% of them employing 100 employees or less. The average revenue for the industry’s Small and Medium-sized Enterprises (SMEs) in 2020 was $706,200, with just under 50 per cent reporting profitability.
Photo credit: By Alexandra Tran on Unsplash
This guide can offer a launching point as you embark on your secondary market research for your business idea. Work through the questions and resources to develop strategies for accessing reliable business information as part of your planning process. While doing your own primary market research will ensure you get the exact data you need, it is usually very time consuming and expensive. Believe us -- it is well worth your time to learn how to find publicly available statistics and data first. We'll point you to as many freely available, online sources that we can find, but keep in mind that there are many resources available at your local public, college or research library.
Guide Outline
This Accelerator Guide is organized into four sections designed to help you focus your research. Each section will highlight what goals you'll achieve, as well as questions to get you thinking about the kind of information you'll likely need. In no time you will be an expert DIY researcher! You'll need to use the menu on the left to explore each section but here is an outline you can follow.
- Getting Started has introductory materials like how-to books, sample business plans and general start-up information.
- Industry Info has sources outlining the current status, outlook, and trends for your particular industry or sector and more.
- Competitive Info has sources for outlining your competitive market, including potential competitors and market share.
- Customer Info has sources that will help you develop your market analysis and learn about the demographics of your target market and your customers' needs.
Need Other Help?
If you're looking for in-person help be sure to check out the BC Business Support Directory for help in your specific community. If this is your first time doing secondary market research you might want to follow our step-by-step Business Research Basics. In the Learn Business Basics section of this website you will find curated lists of resources on many business topics from marketing, top business planning to a wide selection of free web-based tools to help you with your business development.
Getting Started
Getting StartedGetting Started
Start Right
- Review general resources about the liquor and distilleries industry
- Read books related to your industry and business planning
- Review sample business plans for ideas
- Find capital
Checklist
- Are there books about running a business in this industry?
- What does a comparable business or marketing plan look like?
- What funding or financing opportunities might be available to me?
Find Books
Find BooksFind Books
This section will introduce several "how-to" books on business to help you get started with your research. These books will primarily introduce you to business plan writing. These books will also introduce general business types such as retail and service business models.
Find Books Using Relevant Subject Headings
- Distilleries.
- Distilleries--Law and legislation--United States.
- Distilling industries--Law and legislation--United States.
- Business planning.
- New business enterprises -- Management.
- Small business -- Management.
Google Books
Google Books is a search feature offered by Google. It enables users to search the full text of approximately 10 million books that Google has scanned and stored in its digital database. It also offers previews of books that are currently still in print.
Worldcat
A global catalogue of library collections from various libraries around the world. You can search for books on business planning, new enterprises, start-ups, or your specific industry. You can search for all the locations with copies of a specific item, and then locate the item in a nearby library. In Worldcat, you can also view research articles and other digital content directly online.
illume
A search portal to BC's post-secondary and public library collections (93 libraries).
Find Business Plans
Find Business PlansFind Business Plans
In the page below you will find examples of successful business plans. Researching your business plan can be a very time-consuming experience, but it is an essential and worthwhile investment. Your business plan will become your most important day to day operating tool. The information resources and strategies in this guide will help you create an effective plan and increase your chances for business success.
Review Sample Plans for Ideas
Most books about starting a business will include examples of business plans, as well as business planning templates. In addition to books, online business resources frequently include sample business plans. Here are a few to get you started.
Business Plans
Bplans.com
This site offers a selection of free sample business plans, as well as articles on business planning. Bplans.com also sells business planning software.
Business Plans Handbook, Gale Publishing
This is a database of actual business plans written by North American entrepreneurs seeking financing for their businesses. Includes examples of many start-up business ideas. Access is available through many BC public libraries, made possible by a generous donation from the Sutherland Foundation. Affiliates of UBC can start here.
- Moore, C. (2018). Whiskey Distillery. In D. Craft (Ed.), Business Plans Handbook (Vol. 40, pp. 191-203). Gale.
- Enterprises, Z. (2019). Specialty Cocktail Catering Company/Bartending Service. In D. Craft (Ed.), Business Plans Handbook (Vol. 44, pp. 143-151). Gale.
Business Plan Template And Cash Flow Forecasting Tool
Our friends at Small Business BC provide two valuable tools in one download: the first is a well-structured business plan template that will help communicate what you plan to do, and how you plan to do it, while the second is a spreadsheet you can fill in to, among other things, project costs and expenses using common line items. These tools will set you on your way to being able to present your business plan to funders.
SCORE
SCORE is a non profit association helping small businesses. Their library includes templates for business plans, SWOT analysis, financial projections and more.
Are there any other business plan sources you can find? Try: https://www.carnegielibrary.org/services/for-businesses/entrepreneurs-and-small-businesses/business-plans-index/
Marketing Plans
Marketing Plan Outline from Government of Canada |This Government of Canada page reviews the components of a marketing plan and why a marketing plan is necessary for your small business.
BDC Marketing Plan Template | This comprehensive marketing plan template from BDC is for Canadian entrepreneurs specifically and includes all the important sections of a marketing plan, including an executive summary, identification of your target customer, and how you'll measure your sales.
Small Business BC - How to Write a Marketing Plan
This guide shows you how to develop a marketing plan that includes details like how you intend to meet your customers’ needs and communicate the benefits of your products or services to them. When making any decisions about market positioning, pricing, promotions, and sales, your customers should always be top of mind.
Find Capital
Find CapitalFind Capital
In this section you will find links to information on funding for your business. No business can function without money to pay for overhead expenses and production or product costs. It is also unusual for a business founder to have the capital to fully fund their business. The sources in this section will help you consider the best source of funding for your business.
Suggestions for Obtaining Capital
With proper planning and a few resources to guide you on your way, identifying and securing capital to start and grow your business becomes a much smoother and gentler process. There are several ways to secure the capital needed to fund your business.
Government Funding
This is money that the government gives you to fund your business, based on your application to the funding grant. There are other types of government assistance you might wish to explore here: Business Grants and Financing (link :https://www.canada.ca/en/services/business/grants.html)). Personal Savings: This involves saving your money from your current employment to invest in your business.
Personal Loans
This option means using your personal credit to secure a loan or using your personal credit card for business expenses.
Crowdfunding/Micro-Lending
Crowdfunding and micro-lending are both alternative ways of raising capital that involve having large groups of people pre-buy your product before it is launched or loan you small amounts that you can then use to finance your business.
Private Financing/Equity Financing
This types of financing comes in the form of loans from banks or individuals. It is obtained through your business’ credit availability or through providing equity in your business in exchange for money. This financing involves going into debt or giving up some control of your business.
Below, we have some resources that can help you find funding options for your business:
Find Industry Info
Find Industry InfoFind Industry Info
Conduct Your Industry Research
- Find information specific to your industry to help you succeed
- Write your industry overview
- Start your market analysis
Checklist
- What are NAICS or SIC codes for the Liquor and Distilleries industry?
- What are the risks, trends, opportunities and outlooks for the Liquor and Distilleries industry?
- What is the forecast for the Liquor and Distilleries industry? What trade associations, magazines, agencies and websites are connected with the Liquor and Distilleries industry?
- Have there been regulatory or technological changes in the Liquor and Distilleries industry that could affect my business?
TIP: Make a note of any questions you have, the resources in this section can help you answer these and complete the checklist.
Industry Codes
Industry CodesIndustry Codes: The North American Industry Classification System (NAICS)
At the start of your research, it may not be clear what specific industry you should be examining. A good strategy is to find out if your business idea is classified in an industrial classification system. These systems organize industries by assigning them a numeric code. The most commonly used system is the North American Industry Classification System (NAICS). Once you know your Industry Classification Code you can use this number to:
- Find industry-specific statistics on government websites or in library databases
- Generate lists of competitors in company directories
Another common classification system is the Standard Industry Code (SIC). NAICS have mostly replaced the SIC, but the SIC is still used by some commercial databases. Finding and using these classification systems to effectively search can be tricky, so don't hesitate to ask a librarian for help.
Start With These Suggestions
Type |
Code |
Description |
NAICS |
312140 | Distilleries |
NAICS |
424820 | Wine and Distilled Alcoholic Beverage Merchant Wholesalers |
NAICS |
312130 | Wineries |
NAICS |
311211 | Flour Milling |
NAICS |
333241 | Food Product Machine Manufacturing |
NAICS |
423830 | Industrial Machinery and Equipment Merchant Wholesalers |
SIC |
2085 | Distilled and Blended Liquors |
SIC |
5182 | Wine and Distilled Alcoholic Beverages |
SIC |
2084 | Wines, Brandy, and Brandy Spirits |
SIC | 2085 | Distilled and Blended Liquors |
SIC | 2034 | Dried and Dehydrated Fruits, Vegetables, and Soup Mixes |
SIC | 2041 | Flour and Other Grain Mill Products |
SIC | 3556 | Food Product Machinery |
SIC | 5084 | Industrial Machinery and Equipment |
SIC | 5085 | Industrial Supplies |
Search or browse all NAICS or SIC codes on the NAICS Association website. Some NAICS codes are different in Canada — you can search by keyword or browse Canadian NAICS codes at Statistics Canada or Canadian Industry Statistics. To search for a SIC code using a NAICS code and vice versa, use the NAICS & SIC Crosswalks.
For more information about planning your industry research, including identifying your industry codes, check out the video tutorial for Module 3: Planning Your Industry Research.
Library Databases
Library DatabasesLibrary Databases
The Expensive World Of Business Information
Believe it or not, you cannot find everything on Google! Have you ever done an online search and found the perfect industry report only to find that it costs over $5,000? Did you know that libraries pay for many expensive databases that could be helpful in your secondary market research?
Search engines like Google can only provide direct access to freely available information. Most of the web, including business information, lives in databases behind expensive paywalls. This paywall-protected section of the Internet is known as the deep web. Fortunately, some libraries pay to subscribe to databases so they can provide free access to their patrons — and many business databases can contain useful information such as articles, market research, and company reports.
There are several strategies you can use to access relevant business information on the deep web. First, we urge you to look up what business resources your local public or academic library can provide access to. Each database has its own arrangement, with unique interfaces and search features. It helps to know the structure and search terms of the specific database you are working with in order to retrieve effective results.
Also, it is important to know that library databases are restricted by specific usage agreements. It can help to consult with a librarian if you have trouble navigating a specific database. They may also be able to help you find comparable information elsewhere. Libraries with robust business collections might have useful e-books, directories and trade journals. As you conduct your secondary market research you will likely need to consult both free and deep web resources.
For more information about how and why to use business databases, check out our video tutorial, Module Four: Conducting Your Industry Research.
UBC Library Business Databases
How to access: If you are a UBC student, staff, faculty or in-person library visitor you may have access to business databases through the David Lam Management Research Library and Canaccord Learning Commons through the links below.
Full Listing By Title or Full Listing By Subject
There are two different ways to identify databases: Use "by title" if you already know the name; otherwise you can search the list "by subject" to find starting places for undertaking market research, finding articles or researching companies. To learn more about how you can access library resources if you are a community user or temporary visitor, check out the UBC Library Community Users & Visitors Guide. Community users and temporary visitors may have additional access restrictions to specific databases because of license agreements.
ABI/INFORM Collection
How to access: If you are a UBC student, staff, faculty or in-person library visitor you can access this resource.
Created by ProQuest this database contains full-text articles from over 1,000 business magazines and journals that track business conditions, trends, management techniques, corporate strategies, and industry-specific topics.
- Distilleries - quarterly update 2/7/2022. (2022). (). Fort Mill, South Carolina: Mergent. Retrieved from ABI/INFORM Collection.
- United States food & drink report - Q1 2022. (2022). (). London: Fitch Solutions Group Limited. Retrieved from ABI/INFORM Collection.
- 2020 worldwide distilleries & alcohol-making industry-industry & market report. (2019). (). Bonita Springs: Barnes Reports. Retrieved from ABI/INFORM Collection.
- Craft vodka market size will grow by USD 590.15 million | 43% of the market's growth will originate from north America|17,000+ technavio reports. (2022, Feb 28). PR Newswire.
- Insights on the mezcal global market to 2026 - featuring bacardi, craft distillers and los danzantes among others. (2022, Feb 23). NASDAQ OMX's News Release Distribution Channel.
- Christians, L. (2021). The hottest cocktail trends of 2021. The Billings Gazette.
- Food processing equipment market worth $98.4 billion by 2027 - market size, share, forecasts, & trends analysis report with COVID-19 impact by meticulous research®: Food processing equipment market by type (meat, poultry, and seafood processing equipment, bakery equipment, beverage processing equipment, dairy processing equipment, and fruit and vegetable processing equipment) - global forecast to 2027. (2022, Jan 20). NASDAQ OMX's News Release Distribution Channel.
Mergent Online
How to access: If you are a UBC student, staff, faculty or in-person library visitor you can access this resource.
This database provides access to US and international public company data. It also contains data on companies that were acquired, went bankrupt, liquidated or merged out of existence from 1995 forward. Users can compare companies and export data into programs like Excel.
To narrow down your company search by geography, look for the Country dropdown menu on the right-hand side. Searching “Canada” in combination with NAICS code “312140” returns multiple Canadian company profiles. Identifying distilleries by Canadian province requires scanning individual profiles for company addresses. Below is a list of all British Columbia-based craft distilleries found in Mergent Online.
- Cascadia Brands, Inc. (TSX: CBH). Mergent Online. Retrieved from Mergent Online database.
- Northam Beverages Ltd. Retrieved from Mergent Online database.
- Okanagan Spirits Inc. Retrieved from Mergent Online database.
BCC Research Centre
How to access: If you are a UBC student, staff, faculty or in-person library visitor you can access this resource. Otherwise, contact your local library to see if they provide access.
Publishes 250 reports annually that are complete with market intelligence, five-year forecasts, statistical and analytical data, key players, market share, industry structure and dynamics, and technological shifts and trends.
- Barnes Reports. (October 2021). 2021 U.S. Distilleries & Alcohol-Making Industry-Industry & Market Report. [Report Code MBR1084A]. Retrieved from BCC Research Centre database.
- Business Research Company. (July 2019). Spirits Manufacturing (Distilleries) Market Global Briefing 2019. [Report Code MKB361A]. Retrieved from BCC Research Centre database.
- Barnes Reports. (October 2020). 2021 U.S. Beer & Wine & Liquor Stores Industry-Industry & Market Report. [Report Code MBR1136A]. Retrieved from BCC Research Centre database.
Business Source Ultimate
How to access: If you are a UBC student, staff, faculty or in-person library visitor you can access this resource. Otherwise, contact your local library to see if they provide access.
Includes financial data, books, videos, company profiles, SWOT analyses, industry profiles, country reports, market research reports and case studies. Also includes information on industry trends, forecasts, outlooks, competitors, how to run a specific business and much more.
- Ativie, I. F. (2021). From netminder to distiller: Belfour Spirits honors Fighting Sioux fans. Beverage Industry, 112(3), 24.
- Harfmann, B. (2020). Handmade and homegrown in America: Craft distilled spirits embrace local roots, innovation. Beverage Industry, 111(8), 16–21.
- Luederitz, C., Caniglia, G., Colbert, B., & Burch, S. (2021). How do small businesses pursue sustainability? The role of collective agency for integrating planned and emergent strategy making. Business Strategy & the Environment (John Wiley & Sons, Inc), 30(7), 3376–3393. https://doi.org/10.1002/bse.2808
- Anderson, B. (2021). The Forgotten Labour of Craft: Exploitation and Organizing in Artisanal Industries. Labour / Le Travail, 88, 1–25. https://doi.org/10.52975/llt.2021v88.0005
- Bachman, J. R., Hull, J. S., & Haecker, S. (2021). Millennials are not all the same: Examining millennial craft brewery and winery visitors’ social involvement, self‐image, and social return. International Journal of Tourism Research, 23(1), 123–133. https://doi.org/10.1002/jtr.2400
- Kriel, G. (2020). Brewers and distillers in the aftermath of the pandemic. Finweek, 37–40.
IBISWorld Industry Reports
How to access: If you are a UBC student, staff, faculty or in-person library visitor you can access this resource.
IBISWorld research is an independent, professional publisher of high-quality market research reports. These reports analyze the underlying structure and external forces that drive an industry.
- McGrath, S. (2022). Canada Industry (NAICS) Report 31214CA / Manufacturing In Canada Distilleries in Canada. IBISWorld. Retrieved from IBISWorld database.
- Kanda, S. (2021). Canada Industry (NAICS) Report 41322CA / Wholesale Trade In Canada Beer, Wine & Spirits Wholesaling in Canada. IBISWorld. Retrieved from IBISWorld database.
- McGrath, S. (2022). Canada Industry (NAICS) Report 44531CA / Retail Trade In Canada Beer, Wine & Liquor Stores in Canada. IBISWorld. Retrieved from IBISWorld database.
- Wood, G. (2021). US Industry (NAICS) Report US 31214 / Manufacturing. Distilleries in the US. IBISWorld. Retrieved from IBISWorld database.
- Thomas, B. (2021). US Specialized Industry Report OD4290 / Consumer Goods and Services Whiskey & Bourbon Distilleries. IBISWorld. Retrieved from IBISWorld database.
- Wood, G. (2021). US Specialized Industry Report OD4289 / Consumer Goods and Services Vodka Distilleries. IBISWorld. Retrieved from IBISWorld database.
- Thomas, B. (2021). US Industry (NAICS) Report (42482) / Wholesale Trade Wine & Spirits Wholesaling in the US. IBISWorld. Retrieved from IBISWorld database.
- Wood, G. (2022). Global Industry Report C1122-GL / Global Manufacturing Global Spirits Manufacturing. IBISWorld. Retrieved from IBISWorld database.
Statista
How to access: If you are a UBC student, staff, faculty or in-person library visitor you can access this resource.
A simple to use statistics portal that integrates statistics from thousands of sources, on topics related to business, media, public policy, health and others. Statistics can be exported in PPT, XLS, PDF, and PNG formats. Some basic content available for free.
- Conway, J. (2021). Number of distilleries in Canada by region 2021. Statista. Retrieved from Statista database.
- Conway, J. (2021). Leading types of spirits sold in British Columbia by retail sales 2020/21. Statista. Retrieved from Statista database.
- Conway, J. (2020). Retail sales of spirits in British Columbia 2012-2019. Statista. Retrieved from Statista database.
- Conway, J. (2021). Canadian spirit volume sales in Canada by province 2019/20. Statista. Retrieved from Statista database.
- Conway, J. (2021). Spirits market in Canada - statistics & facts. Statista. Retrieved from Statista database.
- Conway, J. (2021). U.S. Spirits Industry- Statistics & Facts. Statista. Retrieved from Statista database.
- Conway, J. (2021). Alcoholic Beverages Industry worldwide - Statistics & Facts. Statista. Retrieved from Statista database.
- Conway, J. (2021). Whiskey Industry- Statistics & Facts. Statista. Retrieved from Statista database.
- Conway, J. (2021). Vodka Industry- Statistics & Facts. Statista. Retrieved from Statista database.
- Conway, J. (2021). Gin Industry- Statistics & Facts. Statista. Retrieved from Statista database.
Newspapers and News Sources - UBC Library Research Guide
How to access: The guide can be viewed through the link below. Individual resources and databases will have different access requirements.
UBC Library has an excellent collection of current and historical newspapers from B.C., Canada, and around the world. UBC affiliates will have access to these resources.
Provincial Library Database Partners
How to access: Check out the database list and note the License Participants to find out which institutions have access. Otherwise, contact your local post-secondary library to see what they offer.
BC Electronic Library Network (ELN) Research Databases
ELN licenses databases with partner academic libraries. These include LexisNexis, Canadian Newsstream, Hoovers, CBCA Business, ABI/INFORM Complete and others that may be of interest to business researchers.
Industry News
Industry NewsIndustry News
In this section we have gathered some of the most popular information sources, such as trade journals, magazines, blogs, and association websites. Industry information is always changing. For the latest news, current issues and popular opinions, try following one or more of these sources. In addition, interacting with the websites that provide this information through commenting and asking questions may also provide you with more information.
Associations
Trade associations often publish free industry newsletters that are excellent sources of information for your business plan. Such newsletters often have articles that cover in-depth topics on business management, manufacturing practices, how-tos, and current industry news.
- Craft Distillers Guild of British Columbia, Canada
- Artisan Distillers Canada
- Canadian Distilled Spirits Industry
- American Distilling Institute
- American Craft Spirits Association
- Distilled Spirits Council of the United States
TIP: Use ASAE Gateway to Associations Directory to search for an association by name, interest area, or international geographic location (including Canada and BC). You can also search using a combination of various fields.
Magazines & Trade Journals
Trade associations often publish free industry newsletters that are excellent sources of information for business planning. Such newsletters often have articles that cover in-depth topics on business management, manufacturing practices, how-tos, and current industry news.
TIP: Try searching Ulrich's Periodical Directory to develop a list of important trade publications in your industry.
Consultant & Other Websites
BC Spirits
A directory of BC’s five dozen craft distilleries.
MarketWatch - Industry Analyzer | The Industries section contains current data on Dow Jones Industry Sectors. Aggregate data as well as company-specific data is available.
Government Websites
Government WebsitesGovernment Websites
In this section we have gathered some of the most reliable freely available online government and employment websites for you to use in your research.
Canadian Websites
BC Stats | Current reports and statistics from British Columbia's central statistical agency including labour market information, economic statistics and bankruptcies. Start by searching their Industry section and narrowing by industry type or go to the Business, Industry & Trade page to skim all the different business-related topics.
- Food and Beverage Processing
- Creating Opportunity for Small Business through Zoning and Permitting
- FACTSHEET: British Columbia’s distillery industry
A one-pager from the Government of British Columbia on the province’s distillery industry.
Liquor Distribution Branch | One of two branches of the BC government responsible for the wholesale distribution and retail sale of beverage alcohol and non-medical cannabis. While it is not a crown corporation, the LDB is required to comply within the requirements of a Crown agency in relation to its financial reporting, service plan and mandate letter. Of interest would be the latest editions of two quarterly reports: the Liquor Market Review and the Hospitality Liquor Market Review.
The Daily - Statistics Canada
The premier source for Canadian statistical information, including census information. Search 'The Daily' releases by subject to identify corresponding census tables, latest news, and publications. Similarly, you can browse by data source, including surveys & questionnaires relevant to your market research, which also link to census tables, latest news and publications.
Canadian Industry Statistics (CIS) - Industry Canada | CIS analyses industry data on many economic indicators using the most recent data from Statistics Canada. CIS looks at industry trends and financial information, such as GDP, Labour Productivity, Manufacturing and Trade data.
Trade Commissioner Service | Helps Canadian companies sell their products and services outside Canada by connecting them with its funding and support programs, international opportunities and its network of trade commissioners in more than 160 cities worldwide.
US & International Websites
Small Business Administration: Free Small Business Data
This site is created and managed by the US Small Business Administration (SBA) and provides a list of free sources of information that you can use to obtain data about markets in the US.
Alcohol and Tobacco Tax and Trade Bureau | Assists industry members to understand and comply with U.S. tax, product, and marketing requirements associated with the commodities of alcohol and tobacco.
Regulations
RegulationsRegulations
Learn More About Compliance Issues
When it comes to starting a business, one of the first decisions you need to make is the legal structure of your business - sole proprietorship, partnership, limited liability partnership, or limited company. You'll also need to register your business and you'll need to be aware of many municipal, provincial or federal regulations. The websites in this section will help you.
Innovation, Science and Economic Development Canada - Permits and Licenses Search | Search for the permits and licenses applicable to your industry and location to meet all federal, provincial and municipal regulations.
Canada Revenue Agency | Administers tax laws for the Government of Canada and for most provinces and territories.
Internal Trade Secretariat | Provides administrative and operational support to the functioning of the Canadian Free Trade Agreement.
The Province of British Columbia | Provides information on programs and resources available to small business owners in British Columbia. Includes information on taxes and industry regulations. Start with the Permits, Licences & Registrations section.
Liquor and Cannabis Regulation Branch | Agency of the government of British Columbia, within the Ministry of the Attorney General, responsible for issuing liquor licenses in the province and for enforcing the provisions of the Liquor Control and Licensing Act.
Find Competitive Info
Find Competitive InfoFind Competitive Info
Conduct Your Competitive Research
- Gather and analyze competitive information
- Define your competitive edge
- Use benchmarking tools to create your financial analysis
- Find competitor information for your own organizational plan
Checklist
- Who are my direct or indirect competitors? Where are they located?
- Who are the leading companies in the Liquor and Distilleries industry and what can I learn from them (e.g., what were their revenues)?
- Are my competitors publicly traded and would their financial filings help me plan my own business?
- What are my competitors’ strengths and weaknesses and how can I add unique value?
- Has there been any news coverage on my competitors announcing a new product, marketing strategy or personnel changes that can provide insight into my business planning?
TIP: Make a note of any questions you have, the resources in this section can help you answer these and complete the checklist.
Find Competitors
Find CompetitorsFind Competitors
Learning About Competitors
To create a list of competitors and find basic information about them (e.g. number of employees, contact information) you will need to consult business directories. Many directories are available online for free, while others are fee-based commercial databases. You can find directories that are particular to an industry or geography. Your local library will likely have a good collection of directories that you can consult in person.
For further information about secondary market research, see our video tutorial Module Two: Secondary Market Research for Industry Analysis.
If you know of some public companies in your industry, then annual reports can provide a great deal of useful financial information including sales volume, revenue increases, and total market share. You can search the System for Electronic Document Analysis and Retrieval (SEDAR) for Canadian Company filings. If the competitor you are researching does business in the US, then you search the Security and Exchange Commissions equivalent, EDGAR, which provides free public access to corporate information including financial information and operations by reviewing registration statements, prospectuses and periodic reports filed on Forms 10-K and 10-Q. You also can find information about recent corporate events reported on Form 8-K that a company does not have to disclose to investors. You can use advanced search features to search by Standard Industry Classification (SIC) codes.
Free Business Directories
CanadaOne - Canadian Business Directory
CanadaOne has a directory of over 20,000 Canadian businesses.
Federal Corporations Data Online
Free searchable database of federally incorporated/registered companies.
D&B Hoovers
Provides information on 18 million US and international companies, both public and private. D&B Hoovers' reports are generated quickly, and are easy to read. A fair amount of information is provided for free, but much more is available with a paid subscription. If you know the company name or ticker symbol of any of the key players in your industry, try searching for their Hoovers records to find key information. Use the link above for free information or contact your local library to see if they provide access. Affiliates of UBC may have access.
Proprietary Business Directories
Business in Vancouver, Book of Lists
Comprehensive collection of BC business data compiled annually as the popular BIV Book of Lists. Provides data on over 1000 companies including: websites, phone numbers, e-mail addresses, top executives' names, company age, revenues, profits and much more. UBC affiliates and in-person community researchers can obtain access to a print version (here are details on how to locate it) or you can get your own online subscription.
Reference Canada
Provides information on more than one million businesses throughout Canada. Includes name, address, phone number, contacts, number of employees, annual sales volumes, line of business, and credit rating. Vancouver Public Library subscribes to this online directory so check with your local library about access.
The Blue Book of Canadian Business
Detailed profiles for over 60 Canadian corporations, including missions/values, history, operations, social responsibility and executive biographies. Also contains directory type information for 2,500 Canadian companies, a ranking of the top 500 companies and a list of the top 400 Canadian stocks. UBC affiliates and in-person community researchers can obtain access to a print version of this periodical (here are details on how to locate it at UBC in Vancouver).
UBC Library Business Databases
How to access: If you are a UBC student, staff, faculty or in-person library visitor you may have access to business databases through the David Lam Management Research Library and Canaccord Learning Commons through the links below.
Full Listing By Title or Full Listing By Subject
There are two different ways to identify databases: Use "by title" if you already know the name; otherwise you can search the list "by subject" to find starting places for undertaking market research, finding articles or researching companies. To learn more about how you can access library resources if you are a community user or temporary visitor, check out the UBC Library Community Users & Visitors Guide. Community users and temporary visitors may have additional access restrictions to specific databases because of license agreements.
Mapping Your Competitors
Online maps such as Google Maps or Bing Maps and popular directories such as Yelp are a fast way to locate nearby competitors, and to get a better sense of the region your business operates within. Try searching for the name of your product or industry and narrowing your results by focusing the map on a specific location, such as a city or neighborhood.
SimplyAnalytics
This is an Internet-based mapping application that enables users to develop interactive thematic maps and reports using thousands of demographic, business, and marketing data variables. Check your local public or academic library for access. UBC affiliates can learn more and get access.
Trade Shows
Attending trade shows is an excellent way to learn more about your competitors. Contact local associations or read trade publications to find out what trade shows are coming to your community.
Find Financial Benchmarks
Find Financial BenchmarksFind Financial Benchmarks
One thing you will need to do in the financials section of your business plan is discuss how you will price your products and/or services, and how this compares to your competitors. You will need to develop a financial plan that includes your projected revenues and net income. The following resources will help you find financial information on competitors in your industry.
Free Tools for Finding Financial Info
EDGAR
Filings with the US Securities & Exchange Commission by companies listed on US exchanges. 10-K Forms include detailed information on company history, structure, financial statements, and other relevant data.
SEDAR
A collection of corporate filings that are required by securities regulators, from companies operating in Canada. This website is an excellent source for information about a company's plans, competitive environment, markets, products, and assets. SEDAR is the Canadian equivalent of EDGAR.
Finding Benchmarks & Ratios
Ratios are tools that allow you to plan and assess your company's progress over time, and to compare it to other companies in the same industry. There are diferent kinds of ratios, including operating ratios, financial ratios, performance indicators, and benchmarks.
Financial Performance Data (formerly SME Benchmarking Tool)
Tool for benchmarking your financial reports with others in your sector. Website also includes a collection of financial data and annual reports of various Canadian companies. For instructions on using the Financial Performance Data click here. To create a report using Financial Performance data click here.
TIP: Remember to search using your NAICS code (eg. 312140)
Financial Performance Indicators for Canadian Business
Offers current financial ratios by industry, based on data provided by Statistics Canada. The indicators are designed to serve as financial performance benchmarks against which individual firms and industries can be compared. Affiliates of UBC, UNBC, UVic and SFU have access through Abacus Dataverse. If you are visiting, please contact your local library about access.
Proprietary Tools For Finding Financial Info
UBC Company Research Guide
This research guide was created by UBC business librarians. Follow this link to go directly to the section of the guide that features various UBC Library electronic resources that are recommended for searching for financial information on competitors, such as credit rankings, stock prices and investment analyst reports. You can explore the navigation on the right-hand side to find more recommended research sources on the general topic of company research.
Tools For Calculating Your Own Financials
- Financial Ratio Calculators - Business Development Canada
- Financial Ratios Calculator: Debt to Equity and Other Ratios - Canada One
- Business Calculators - GoForth Institute
Market Share & Size
Market Share & SizeMarket Share & Size
Both market size and market share held by competitors are key factors when assessing the competitive environment. Keep in mind that there is no single source of market size and market share data. Market information is usually pieced together from various sources and is not often readily available for niche or emerging industries. One strategy is to combine a competitor's name or a comparable, established industry with the term market share in article databases or read market research reports. You will need to identify and describe your market – who your customers are and what the demand is for your products and services.
UBC Library Business Databases
How to access: If you are a UBC student, staff, faculty or in-person library visitor you may have access to business databases through the David Lam Management Research Library and Canaccord Learning Commons through the links below.
Full Listing By Title or Full Listing By Subject
There are two different ways to identify databases: Use "by title" if you already know the name; otherwise you can search the list "by subject" to find starting places for undertaking market research, finding articles or researching companies. To learn more about how you can access library resources if you are a community user or temporary visitor, check out the UBC Library Community Users & Visitors Guide. Community users and temporary visitors may have additional access restrictions to specific databases because of license agreements.
Other Library Resources
Library Resources
Access to the following sources may be available through your local public or academic library. For information on how to obtain a library card, and for additional information on using libraries in BC, please visit our Getting Access to Library Resources page.
ABI/INFORM Collection
How to access: If you are a UBC student, staff, faculty or in-person library visitor you can access this resource.
Created by ProQuest this database contains full-text articles from over 1,000 business magazines and journals that track business conditions, trends, management techniques, corporate strategies, and industry-specific topics.
- Craft vodka market size will grow by USD 590.15 million | 43% of the market's growth will originate from north America|17,000+ technavio reports. (2022, Feb 28). PR Newswire.
- Insights on the mezcal global market to 2026 - featuring bacardi, craft distillers and los danzantes among others. (2022, Feb 23). NASDAQ OMX's News Release Distribution Channel.
- Distilleries - quarterly update 2/7/2022. (2022). Fort Mill, South Carolina: Mergent. Retrieved from Business Market Research Collection.
(Tip: Search the database for “Distilleries - quarterly update” to access all past reports.) - Global alcoholic beverages (distilled spirits) industry: Global alcoholic beverages (distilled spirits) market to reach US$33. 5 billion by the year 2027. amid the COVID-19 crisis, the global market for alcoholic beverages (distilled spirits) estimated at US$27. (2020, Jul 08). NASDAQ OMX's News Release Distribution Channel.
- Canada food & drink report - Q4 2021. (2021). (). London: Fitch Solutions Group Limited. Retrieved from ABI/INFORM Collection.
Business Source Ultimate
How to access: If you are a UBC student, staff, faculty or in-person library visitor you can access this resource. Otherwise, contact your local library to see if they provide access.
Includes financial data, books, videos, company profiles, SWOT analyses, industry profiles, country reports, market research reports and case studies. Also includes information on industry trends, forecasts, outlooks, competitors, how to run a specific business and much more.
- Chaudhuri, S., & Mickle, T. (2015, August 29). ‘Craft’ Startups to Test Big Liquor Makers. Wall Street Journal - Eastern Edition, 266(51), B4.
- MarketLine Industry Profile: Spirits in Canada. (2022). Spirits Industry Profile: Canada, 1–42.
eMarketer
How to access: If you are a UBC student, staff, faculty or in-person library visitor you can access this resource. Or, contact your local public or academic library for their access details.
Global market research and trend analysis database that focuses on Internet, e-business, online marketing, media, and emerging technologies.
- Goldman, J. (2021). Alcohol ecommerce goes mainstream. Insider Intelligence. Retrieved from eMarketer database.
- Briggs, P. (2022). Spotlight: Canada Food and Grocery Delivery Apps. Insider Intelligence. Retrieved from eMarketer database.
IBISWorld Industry Reports
How to access: If you are a UBC student, staff, faculty or in-person library visitor you can access this resource.
IBISWorld research is an independent, professional publisher of high-quality market research reports. These reports analyze the underlying structure and external forces that drive an industry.
- Thomas, B. (2021). US SPECIALIZED INDUSTRY REPORT OD4290 / CONSUMER GOODS AND SERVICES Whiskey & Bourbon Distilleries. IBISWorld. Retrieved from IBISWorld database.
- Wood, G. (2021). US SPECIALIZED INDUSTRY REPORT OD4289 / CONSUMER GOODS AND SERVICES Vodka Distilleries. IBISWorld. Retrieved from IBISWorld database.
- Distilleries in Canada https://my.ibisworld.com/ca/en/industry/31214ca/about
- McGrath, S. (2022). Canada Industry (NAICS) Report 31214CA / Manufacturing In Canada Distilleries in Canada. IBISWorld. Retrieved from IBISWorld database.
- Kanda, S. (2021). Canada Industry (NAICS) Report 41322CA / Wholesale Trade In Canada Beer, Wine & Spirits Wholesaling in Canada. IBISWorld. Retrieved from IBISWorld database.
- McGrath, S. (2022). Canada Industry (NAICS) Report 44531CA / Retail Trade In Canada Beer, Wine & Liquor Stores in Canada. IBISWorld. Retrieved from IBISWorld database.
- Wood, G. (2021). US Industry (NAICS) Report US 31214 / Manufacturing. Distilleries in the US. IBISWorld. Retrieved from IBISWorld database.
- Thomas, B. (2021). US Specialized Industry Report OD4290 / Consumer Goods and Services Whiskey & Bourbon Distilleries. IBISWorld. Retrieved from IBISWorld database.
- Wood, G. (2021). US Specialized Industry Report OD4289 / Consumer Goods and Services Vodka Distilleries. IBISWorld. Retrieved from IBISWorld database.
- Thomas, B. (2021). US Industry (NAICS) Report (42482) / Wholesale Trade Wine & Spirits Wholesaling in the US. IBISWorld. Retrieved from IBISWorld database.
- Wood, G. (2022). Global Industry Report C1122-GL / Global Manufacturing Global Spirits Manufacturing. IBISWorld. Retrieved from IBISWorld database.
Mergent Online
How to access: If you are a UBC student, staff, faculty or in-person library visitor you can access this resource.
This database provides access to US and international public company data. It also contains data on companies that were acquired, went bankrupt, liquidated or merged out of existence from 1995 forward. Users can compare companies and export data into programs like Excel.
To narrow down your company search by geography, look for the Country dropdown menu on the right-hand side. Searching “Canada” in combination with NAICS code “312140” returns multiple Canadian company profiles. Identifying distilleries by Canadian province requires scanning individual profiles for company addresses. Below is a list of all British Columbia-based craft distilleries found in Mergent Online.
- Cascadia Brands, Inc. (TSX: CBH). Mergent Online. Retrieved from Mergent Online database.
- Northam Beverages Ltd. Retrieved from Mergent Online database.
- Okanagan Spirits Inc. Retrieved from Mergent Online database.
Tips on Company Research
Tips on Company ResearchTips on Company Research
An in-depth investigation and analysis of your competition is one of the most important components of a comprehensive market analysis. A competitive analysis allows you to assess your competitors' strengths and weaknesses in the marketplace, and to implement effective strategies to improve your competitive advantage. Here are some research strategies for doing your competitive analysis:
- Company directories can be used to create lists of competitors by industry, product line, size, etc.
- Doing a company name search in a general research database is an excellent way to learn more about your competitor’s products, services, prices, and media coverage.
- If your competitors are public companies, learn more about them by reading their financials and annual reports.
- News archives provide a range of competitive information on both public and private companies.
- Patents are a good way to learn about the technical and design features of a competitor's products. You can refer to this UBC Library Research Guide, created by UBC Engineering Librarians, if you are looking for patent information. Most of the resources listed are freely available.
For information on primary and secondary market research, as well as common sources for secondary market research, watch our video tutorial Module One: Introduction To Market Research.
Finding information on public companies is considerably easier than finding information on privately-held companies. Information on public companies is readily available online, or at your local library. Another good starting point is the list of resources in the next section of this Accelerator Guide: Find Competitors. Unlike public companies, private companies are not required to file with the System for Electronic Document Analysis and Retrieval (SEDAR). Searching for private company information is considerably more difficult and will require a lot of patience, and a healthy dose of creativity.
Find Customer Info
Find Customer InfoFind Customer Info
Conduct Your Customer Research
- Create your customer analysis
- Identify your target customer
- Demonstrate how your products and services satisfy your customers' needs
Checklist
- Who is going to buy my services (e.g., couples, parents, other businesses)
- What is the future outlook of my target market?
- What do people spend on this industry?
- What is demographic data and how can it help me research my customers
- How many people use industry services each year in Canada and British Columbia?
TIP: Make a note of any questions you have, the resources in this section can help you answer these and complete the checklist.
Demographic Data
Demographic DataDemographic Data
The resources listed in this section will help you identify population characteristics, and help you develop your customer profile. This research will also help you identify geographic areas where the largest number of your potential customers live. This can be very useful when determining a location for your business, and also when formulating your marketing strategy. Don't forget that trade associations and trade journals collect information about customers and can be great information sources for this area of your research.
The Daily - Statistics Canada
The premier source for Canadian statistical information, including census information. Search 'The Daily' releases by subject to identify corresponding census tables, latest news, and publications. Similarly, you can browse by data source, including surveys & questionnaires relevant to your market research, which also link to census tables, latest news and publications.
- Food services and drinking places, January 2022
- Control and sale of alcoholic beverages, April 1, 2020 to March 31, 2021
Canadian Household Spending - Statistics Canada
Statistics Canada is the national statistical office. The agency ensures Canadians have the key information on Canada's economy, society and environment that they require to function effectively as citizens and decision makers.
This table provides statistical information about household expenditures by Canadians broken down into a variety of categories. You can refine the table by region. You can view the full list of data tables here.
Census Profile - Statistics Canada
Provides Canadian community profiles from the latest Census of Canada. These profiles are very useful for comparing statistics on different municipalities or regional districts. Includes details on family characteristics, primary language, mobility, educational attainment, marital status, labour force activity, earnings, and mode of transportation to work.
Find latest data from the 2016 Census
Socio-Economic Profiles - BC Stats
The socio-economic profiles consist of charts and tables for the various regional districts, health areas, college regions and school districts. Each region contains a map, demographic profile, economic hardship, labour market structure, education concerns, crime, health problems, children at risk, and youth at risk. The profiles are presented in a format that allows comparison to other regions in the province and to BC overall.
Your Target Market
Your Target MarketYour Target Market
Library Resources
Access to the following sources may be available through your local public or academic library. For information on how to obtain a library card, and for additional information on using libraries in BC, please visit our Getting Access to Library Resources page.
Marketresearch.com/Freedonia Focus
How to access: Check your local public or academic library to see about access. If you are a UBC student, staff, faculty or in-person library visitor you can access this resource.
While you can search this website only some Canadian libraries provide full-text access to the market research reports on industries and demographics for North American industries. They can range from 50 to 400+ pages in length, and contain charts, tables, and graphs, and key facts. Marketresearch.com has varied industry coverage and includes US and international information.
- Freedonia Focus Reports. (2019). Distilled Spirits: United States. Retrieved from MarketResearch.com database.
- Freedonia Focus Reports. (2019). Bevera: United States. Retrieved from MarketResearch.com database.
eMarketer
How to access: If you are a UBC student, staff, faculty or in-person library visitor you can access this resource. Or, contact your local public or academic library for their access details.
Global market research and trend analysis database that focuses on Internet, e-business, online marketing, media, and emerging technologies.
- eMarketer. (2021). Holiday Shoppers in Canada Who Expect to Purchase Alcoholic Beverages During the Holidays, by Holiday, Sep 2021 (% of respondents). Retrieved from eMarketer database.
- eMarketer. (2021). Types of Alcohol US Adults Have Consumed Most Frequently, Aug 2021 (% of respondents). Retrieved from eMarketer database.
- eMarketer. (2021). Locations Where US Adults Drank Alcohol the Most, Aug 2021 (% of respondents). Retrieved from eMarketer database.
Passport GMID (formerly Global Market Information Database)
How to access: Check your local public or academic library to see about access. If you are a UBC student, staff or faculty member you can access this resource. Please note this is not available for walk-in library users.
Passport GMID, produced by Euromonitor, is an integrated information system providing business intelligence on country economies and demographics, consumers, lifestyles, companies and industries.
- Bell, E. (2021). Fine Wines/Champagne and Spirits in Canada. Passport. Retrieved from Passport database.
WARC: World Advertising Research Center
How to access: If you are a UBC student, staff, faculty or in-person library visitor you can access this resource.
WARC has case studies from major companies and advertising agencies, as well as articles from leading advertising journals and unpublished papers. It also includes company profiles, advertising spending statistics, and demographic and economic data.
- Euromonitor Strategy Briefings. (2021). Spirits in the US. WARC. Retrieved from the WARC database.
Primary Research
The main point of this guide is to introduce you to a wide range of secondary market research resources but keep in mind there is great value in analyzing other information including:
- Advertising, blogs and sales brochures
- Your personal network and employees
- Direct observation, focus groups and interviews with potential customers
The Daily - Statistics Canada
The premier source for Canadian statistical information, including census information. Search 'The Daily' releases by subject to identify corresponding census tables, latest news, and publications. Similarly, you can browse by data source, including surveys & questionnaires relevant to your market research, which also link to census tables, latest news and publications.