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Overview of The Hearing Aid Market — Where You Are Marketing And Selling Hearing Aids…

$ 1 Billion Is Up For Grabs!

What’s Your Share?

Here’s the big picture…

We looked at close to 2,700 (of the 5000+) firms nationally and virtually all of them have fewer than 25 employees. These firms are struggling in general with roughly one-fourth failing each year.

• $1,002,516,214 being reported as market volume in the most recent year.
• $520,986 in sales for the average firm, and
• $604,106 for the survivors this represents more than 50% growth in the last 2 years.
• 2,618 of the 2,697 firms fit the ‘Small Business’ model.
• 1,901 are very small businesses with sales under $200,000.
• 1,544 (52.73%) of these firms are 1-person enterprises.
• Vitality of the industry is good and the start-up rate tops 7%.
It is no wonder, with 70% gross margins and 25% payroll expense.

This tells us that:

1) Your industry is viable and stable, with potential for very highprofitability.
2) Your industry is unforgiving to under-performers.

In each market, we looked at the business population by zip code within market segment to reduce the risk and improve the success of our marketing efforts.

The buyers are unique in that they don’t see the products as a solution to their problems of ‘not understanding those people who mumble’. Their point of view is that their hearing is not the problem but the people around them aren’t pronouncing their words well enough. There is also the problem of the stigma attached to wearing hearing aids.


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