I think the use of the google keywords tool and adwords account is a great way to identify opportunities and competition. I see a lot of small businesses paying hard earned money to build flashy websites, yet their websites don't drive traffic or convert them into qualified leads. I found that setting up a Google Adwords account was a great way to test out the keywords that I selected before I even set up my website. It doesn't require a lot of money and you will be able to see which keywords generate good traffic. This will ultimately help you figure out how to structure your website and put great content for your potential customers to read.

I guess you do not have any budget or whatsoever,right? An easy way is to use Google's Keyword Suggestion tool: https://adwords.google.com/select/KeywordToolExternal Try to think of some relevant keywords and enter your query.Then you can get a preliminary idea of how big your local market would be. Remember to narrow down your query to your geographic location. Another way to doing such research is to obtain official statistics of the local expenditure and income data.And then you can calculate the potential demand.

Look into google adwords keyword predictor. Type in the keywords your customer will use to look for you. It will tell you how many people are searching for your service. It's a great tool.

Hi mmiller, Matt,I had the same idea that Nicole did,the SBA has several excellent training materials available online for detemining a markets viability. On a more proactive note,I would ask local business owners in your area, who are targetting the same demographics market that you will be going after,if they would let you poll or survey his cutomer datagase with an incentive. Make sure it's relevant and the business owners customers will appreciate him for it..Think what's in it for him!! Remember, he has spent lots of time, effort and money in builind a relationship with his customers. You must make it win/win/win for this to, 'fly'! On another note, this could be a great way for you to meet some local business owners to do some partnership deals with. Like launch your services!! I want to mention, there are some businesses that you really can't measure, you just have to go pretty much on a hunch...Usually, because they are a new thing and there isn't much research. For Ex. I started offering my local clients customized, 'Fan Pages' which has really worked out well, but at first I couldn't find much in the way of, 'research data'. Mike Gladson creates digital products for peple starting or already veterans in the informaton marketing industry. He also helps local businesses establish a strong web presence focusing on CRM, Email and Mobile as well as video campaigns. His e-courses, Cut through the bull and regular hype. Drop by and checkout his site and be sure to sign up for the newsletter... This is one list you really want to be on!! href='http://www.YourVideoEmpire.com'>Your Video Empire

To get started in market reserach, read through the SBA guide 'Conducting Market Research' found here: http://www.sba.gov/content/conducting-market-research