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I-CORE Research Guide

Finance Research

Help! I don't have access to my client's financials.

You need to conduct a financial analysis for your I-Core project. However, sometimes the company's financial information is not available because it is privately held and do not disclose. When this happens you can use the following research strategies to help you find information needed to create your financial analysis.

  • Research financial ratios for the industry.
  • Research industry business expenses.
  • Identify public companies within the industry that you can use as proxies for your company. You will want to look at more than one so you can determine an average.

Where to find Financial Ratios

Finding Business Expenses

Identifying Companies to Act as Proxy

Industry research and market research will help you find public companies. Some suggested resources:

Once you identify public companies, you will need to examine their financial statements (income statement, balance sheet, and cash flows). When you find a public company operating, you can look at their company profiles to identify other competitors. Suggested resources:

Researching Real Estate Property Costs

One key strategy is to look at available listings in the area for similar type properties. You may want to contact (phone call!) real estate broker to understand more about the trends are. Are people paying over or under list, what are they seeing these types of properties going for.

You might find information through Google by searching something like: Commercial Real Estate cost per square foot Indiana. This may give you a ballpark number but likely will be out of date - however, you can look at the source of that number and contact the source to get more up to date information.

You can also look at recent sales disclosure for similar type properties available through StatsIndiana.

Researching Utilities

You may find some cost benchmarks with around utilities using the databases. However, it is strongly recommend that you reach out directly to local utilities with the specs of the space you plan to operate to get an accurate estimate of the costs. Often utilities can give you an average of the type of customer or local businesses near the location of where you might operate the business.