Hello all,
I’ve found a gap I could fill. I know what to do however there’s one thing holding me back. I wasn’t going to seek advice as I sat with it in myself for a while but am still unsure.
I’m not sure it has the potential for millions as average profit per unit is $12 (£10)but will drop to $10 (£7.50) once started and paying VAT.
the market size is potentially huge as it’s a product everyone can use but the niche that uses it only has 44k searches a month and 4k searches for the exact product.
It fixes a problem with the existing niche of 44k searches a month. Plus fixes a problem for a wider group of society. I’ve spoken to the supplier and arranged better deals. I’ve figured out how much it costs to sell one unit including website hosting price, accountancy fees, fulfilment and if I outsourced marketing.
What methodology have people used to successfully figure out if a businesses market size is worthwhile? How to know the reasonable amount of sales a business could be seeing at peak?
Thanks in advance!
I’ve found a gap I could fill. I know what to do however there’s one thing holding me back. I wasn’t going to seek advice as I sat with it in myself for a while but am still unsure.
I’m not sure it has the potential for millions as average profit per unit is $12 (£10)but will drop to $10 (£7.50) once started and paying VAT.
the market size is potentially huge as it’s a product everyone can use but the niche that uses it only has 44k searches a month and 4k searches for the exact product.
It fixes a problem with the existing niche of 44k searches a month. Plus fixes a problem for a wider group of society. I’ve spoken to the supplier and arranged better deals. I’ve figured out how much it costs to sell one unit including website hosting price, accountancy fees, fulfilment and if I outsourced marketing.
What methodology have people used to successfully figure out if a businesses market size is worthwhile? How to know the reasonable amount of sales a business could be seeing at peak?
Thanks in advance!
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