{"id":1113,"date":"2022-04-04T00:00:00","date_gmt":"2022-04-04T00:00:00","guid":{"rendered":"https:\/\/www.simplybusiness.co.uk\/knowledge\/articles\/how-to-calculate-market-share\/"},"modified":"2025-05-22T13:17:02","modified_gmt":"2025-05-22T13:17:02","slug":"how-to-calculate-market-share","status":"publish","type":"knowledge","link":"https:\/\/www.simplybusiness.co.uk\/knowledge\/strategy\/how-to-calculate-market-share\/","title":{"rendered":"How to calculate market share for your business"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Working out market share for your business can help you to understand the size of your company in relation to your competitors. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Whether you\u2019re researching the potential of a new startup or looking to grow your business, knowing where you fit into the market is an essential part of any business strategy. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Here, we explore how to measure market share plus tips for increasing market share when you\u2019re ready to grow. <\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"wp-block-list-item\"><a href=\"\/knowledge\/marketing\/how-to-do-a-competitor-analysis\/\" data-type=\"knowledge\" data-id=\"1229\" ><strong>How to do a competitor analysis for your small business <\/strong><\/a><\/li>\n\n\n\n<li class=\"wp-block-list-item\"><a href=\"\/knowledge\/marketing\/how-to-advertise-your-business\/\" data-type=\"knowledge\" data-id=\"1410\" ><strong>How do I advertise my small business? <\/strong><\/a><\/li>\n\n\n\n<li class=\"wp-block-list-item\"><a href=\"\/knowledge\/starting-out\/how-to-start-a-business\/\" data-type=\"knowledge\" data-id=\"1444\" ><strong>How to start a business<\/strong><\/a><\/li>\n\n\n\n<li class=\"wp-block-list-item\"><a href=\"\/business-insurance\/faq\/do-i-need-employers-liability-insurance\/\"><strong>Do I need employers\u2019 liability insurance?<\/strong><\/a><\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-is-market-share\">What is market share?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Market share is the percentage of sales one business generates in a particular industry. You\u2019ll usually look at <a href=\"\/knowledge\/business-tax\/what-is-business-turnover\/\" data-type=\"knowledge\" data-id=\"1577\" >revenue\/turnover<\/a> for this, although you can use unit sales. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Put simply, market share is the portion of the industry that one company controls in terms of sales. If you\u2019ve got a large share of the market then you\u2019ll likely have a higher profit margin too. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The term \u2018market leader\u2019 is reserved for the company that has the largest market share. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-how-to-work-out-market-share\">How to work out market share<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">To work out your market share, calculate your total sales and divide this by the total sales of the industry in one time period. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Market share formula = <\/strong>Total business revenue <strong>divided<\/strong> by total industry revenue<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Keep in mind these variables and be consistent:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"wp-block-list-item\"><strong>time period<\/strong> \u2013 you could look at a financial year, one year, or multiple years<\/li>\n\n\n\n<li class=\"wp-block-list-item\"><strong>products or category<\/strong> \u2013 are you going to look at one product within the industry or a broader category? <\/li>\n\n\n\n<li class=\"wp-block-list-item\"><strong>unit sales or revenue <\/strong>\u2013 be careful comparing unit sales as the same products could have wildly different price tags<\/li>\n\n\n\n<li class=\"wp-block-list-item\"><strong>global or domestic sales <\/strong>\u2013 it\u2019s more common to look at market share by country as it\u2019s easier to compare your own market, or you might even separate it by region<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Take a look at the <a href=\"https:\/\/www.ons.gov.uk\/businessindustryandtrade\" rel=\"noopener noreferrer\" target=\"_blank\">Office for National Statistics<\/a> and <a href=\"https:\/\/www.statista.com\/\" rel=\"noopener noreferrer\" target=\"_blank\">Statista<\/a> to understand more about business trends, economic influences, and consumer behaviour in your industry. <\/p>\n\n<div id=\"nba-body-001\">\n<\/div>\n\n\n\n<p class=\"wp-block-paragraph\">Market share can fluctuate, though, so make sure you&#8217;re doing regular <a href=\"\/knowledge\/marketing\/how-to-do-market-research\/\" data-type=\"knowledge\" data-id=\"982\" >market research<\/a> to stay ahead of the competition. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-market-share-example\">Market share example<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Let\u2019s say you run a <a href=\"\/knowledge\/hospitality\/opening-a-takeaway-guide\/\" data-type=\"knowledge\" data-id=\"903\" >takeaway business<\/a> and you made \u00a3100,000 in pizza sales last year, and the total market sales is \u00a32 million. Your market share is five per cent. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-estimating-potential-market-share-for-a-new-business\">Estimating potential market share for a new business<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">It can be difficult to work out market share potential for a new business. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">First you\u2019ll first want to understand market size (the number of potential customers), then you can look at the target market within that (who can you actually reach with your product or service). You can then look to grow your market share over a number of years in business. <\/p>\n\n\n\n<figure class=\"wp-block-image size-large size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"815\" height=\"543\" src=\"https:\/\/www.simplybusiness.co.uk\/wp-content\/uploads\/sites\/3\/2024\/05\/business-financial-presentation.jpg?w=815\" alt=\"Business owner delivering financial presentation on market share\" class=\"wp-image-4141\" srcset=\"https:\/\/www.simplybusiness.co.uk\/wp-content\/uploads\/sites\/3\/2024\/05\/business-financial-presentation.jpg 815w, https:\/\/www.simplybusiness.co.uk\/wp-content\/uploads\/sites\/3\/2024\/05\/business-financial-presentation.jpg?resize=800,533 800w, https:\/\/www.simplybusiness.co.uk\/wp-content\/uploads\/sites\/3\/2024\/05\/business-financial-presentation.jpg?resize=768,512 768w, https:\/\/www.simplybusiness.co.uk\/wp-content\/uploads\/sites\/3\/2024\/05\/business-financial-presentation.jpg?resize=150,100 150w\" sizes=\"auto, (max-width: 815px) 100vw, 815px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><em>fizkes\/stock.adobe.com<\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-why-is-market-share-important\">Why is market share important? <\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">As we\u2019ve mentioned, market share can help to measure the profitability of a business in relation to its competitors. It\u2019s as important as hiring and <a href=\"\/knowledge\/staff\/employee-retention-at-your-business\/\" data-type=\"knowledge\" data-id=\"1091\" >retaining staff<\/a> and <a href=\"\/business-insurance\/\" data-type=\"page\" data-id=\"5152\" >organising business insurance<\/a>. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Sometimes one or two companies dominate the industry. For example, <a href=\"https:\/\/www.statista.com\/statistics\/216459\/global-market-share-of-apple-iphone\/\" rel=\"noopener noreferrer\" target=\"_blank\">Statista data<\/a> shows Apple iPhones and Samsung smartphones have a 42.4 per cent market share combined. Depending on your product or service, there might be a few more competitors at the top with a smaller portion of market share. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Market share can be a useful metric if you&#8217;re looking for funding too, whether that\u2019s through <a href=\"\/knowledge\/funding\/angel-investors-guide-for-small-businesses\/\" data-type=\"knowledge\" data-id=\"1020\" >angel investors<\/a>, <a href=\"\/knowledge\/funding\/what-is-venture-capital\/\" data-type=\"knowledge\" data-id=\"1029\" >venture capital<\/a>, or a bank loan. You may also use it when <a href=\"\/knowledge\/management\/how-to-value-a-business\/\" data-type=\"knowledge\" data-id=\"1453\" >valuing your business<\/a> if you\u2019re thinking of selling. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">If you\u2019re looking for more ways to see whether your company is profitable, take a look at <a href=\"\/knowledge\/marketing\/what-is-roi\/\" data-type=\"knowledge\" data-id=\"1028\" >ROI<\/a> (return on investment), <a href=\"\/knowledge\/business-tax\/what-is-business-turnover\/\" data-type=\"knowledge\" data-id=\"1577\" >business turnover<\/a>, and <a href=\"\/knowledge\/business-tax\/what-is-ebitda\/\" data-type=\"knowledge\" data-id=\"975\" >EBITDA<\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">You can also read about using <a href=\"\/knowledge\/cash-flow\/what-is-retained-profit\/\" data-type=\"knowledge\" data-id=\"1119\" >retained profit<\/a> to finance growth and increase market share.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-5-tips-for-increasing-market-share\">5 tips for increasing market share<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-1-find-your-niche\">1. Find your niche<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Make sure you find a way to stand out, whether that\u2019s through the type of product you offer, technology you use, or design and branding. A clearly defined niche helps build a loyal customer base and sets you apart from your competition. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-2-analyse-your-competitors\">2. Analyse your competitors <\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Keeping an eye on what your competitors are up to can help to identify emerging trends, new marketing opportunities, and pain points for your target audience. How does your product or service answer consumer needs? Can you offer something new? Our guides to <a href=\"\/knowledge\/marketing\/how-to-do-a-competitor-analysis\/\" data-type=\"knowledge\" data-id=\"1229\" >competitor analysis<\/a> and <a href=\"\/knowledge\/strategy\/how-to-do-business-swot-analysis-template\/\" data-type=\"knowledge\" data-id=\"944\" >SWOT analysis<\/a> can help you here. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-3-stay-on-top-of-market-trends\">3. Stay on top of market trends<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Be innovative and follow changing customer behaviour so your business can stay relevant. Perhaps you can <a href=\"\/knowledge\/marketing\/tips-for-developing-a-product-a-simple-guide\/\" data-type=\"knowledge\" data-id=\"1072\" >develop a new product<\/a> or adopt new technology in your restaurant that\u2019ll make your customers\u2019 lives easier. Holding focus groups, reading industry news, and keeping an eye on <a href=\"https:\/\/trends.google.com\/trends\/?geo=GB\" rel=\"noopener noreferrer\" target=\"_blank\">Google Trends<\/a> can offer great insight. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-4-get-your-pricing-right\">4. Get your pricing right <\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"\/knowledge\/marketing\/how-to-price-a-product-uk\/\" data-type=\"knowledge\" data-id=\"1050\" >Price your products<\/a> competitively and keep in mind how this impacts customer perception of quality and value for money. An introductory offer can be a great way to attract new customers without devaluing your brand. And don\u2019t forget to keep an eye on your <a href=\"\/knowledge\/income\/how-to-calculate-profit-margin\/\" data-type=\"knowledge\" data-id=\"1422\" >profit margin<\/a>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-5-attract-online-reviews\">5. Attract online reviews <\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Positive reviews build trust and help grow your customer base through word of mouth. Whether it\u2019s a glowing review of your handcrafted product, or your warm customer service, reviews give an authentic view of your brand and help get you noticed. Read our <a href=\"\/knowledge\/marketing\/how-to-get-google-reviews-for-your-business\/\" data-type=\"knowledge\" data-id=\"998\" >guide to getting Google reviews<\/a> for more tips.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Do you have any more questions about how to calculate market share for your business? Let us know in the comments section below. <\/strong><\/p>\n\n\n\n<div class=\"wp-block-group has-azure-200-background-color has-background has-global-padding is-layout-constrained wp-container-core-group-is-layout-94e519ba wp-block-group-is-layout-constrained\" style=\"padding-top:var(--wp--preset--spacing--80);padding-right:var(--wp--preset--spacing--40);padding-bottom:var(--wp--preset--spacing--80);padding-left:var(--wp--preset--spacing--40)\">\n<h3 class=\"wp-block-heading has-text-align-center\" id=\"h-ready-to-set-up-your-cover\">Ready to set up your cover?<\/h3>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\">As one of the UK&#8217;s biggest <a href=\"\/business-insurance\/\" data-type=\"page\" data-id=\"5152\" >business insurance<\/a> providers, we specialise in <a href=\"\/business-insurance\/public-liability-insurance\/\">public liability insurance<\/a> and protect more trades than anybody else. Why not take a look now and build a quick, tailored quote?<\/p>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-a89b3969 wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/quote.simplybusiness.co.uk\/business\">Start your quote<\/a><\/div>\n<\/div>\n<\/div>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n<div id=\"nba-body-end\">\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Measuring market share helps you understand how you stack up against your competitors. It can also be a key indicator of profitability. Learn more.<\/p>\n","protected":false},"author":3,"featured_media":4140,"comment_status":"open","ping_status":"closed","template":"","meta":{"sb_hreflang":"","sb_hreflang_url":"","disable_breadcrumbs":false,"sb_breadcrumbs":[],"sb_reviewed_by":"","sb_review_date":"","sb_enable_content_gating":true,"footnotes":""},"categories":[341,111,110],"hidden-category":[],"coauthors":[25],"class_list":["post-1113","knowledge","type-knowledge","status-publish","has-post-thumbnail","hentry","category-strategy","category-marketing","category-business-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>How to work out market share \u2013 a simple guide<\/title>\n<meta name=\"description\" content=\"Measuring market share helps you understand how you stack up against your competitors. It can also be a key indicator of profitability. 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