New & Growing Businesses - Market Research / Site Selection Stories

[ChrisPeerViewAI]

Hey All!
I was just recommended to this forum earlier this morning and decided to check it out, excited to see if it’s as awesome as it looks. I come from a background in business lending, where I built out revenue modeling for businesses nationwide, basically a “Zillow for businesses.” It turned out to be a powerful input for marketing, underwriting, and fraud detection. But I was always feeling like there was a lot more we could do with that capabilities rather than just marginal improvements to our lending portfolio.

A few months ago, I decided to launch my own business based on those same capabilities. But instead of focusing on lending, I’m now helping new and growing businesses do market research with a twist. I analyze the actual revenue performance of similar businesses in a market/industry to assess whether that market is truly healthy and can support a new entrant. For example, I live in Austin, Texas which is a place that looks great on paper for pet care businesses (high income, lots of pet owners, solid support ecosystem). But when you add in revenue-based insights, the story changes: there are already too many businesses in the same niche, making it more competitive and less ideal that other places where the demographics may be less favorable, but the competition is much more modest.

I’m still in the early stages, so I’d love to hear how others here have approached market and competitor research. I’ve already heard some wild stories (my favorite was someone opening a hair salon who got their hair done at every salon in town over a month), but I’m always looking to learn more so I can refine my product and better serve future entrepreneurs.

Looking forward to connecting!

 

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[MJ DeMarco]

Jiz Emm!
O xet katv sidunnipfif vu vjot gusan iesmois vjot nuspoph epf fidofif vu djidl ov uav, iydovif vu tii og ov’t et exituni et ov muult. O duni gsun e cedlhsuapf op catopitt mipfoph, xjisi O caomv uav siwipai nufimoph gus catopittit pevoupxofi, cetodemmz e “Bommux gus catopittit.” Ov vaspif uav vu ci e quxisgam opqav gus neslivoph, apfisxsovoph, epf gseaf fividvoup. Cav O xet emxezt giimoph moli vjisi xet e muv nusi xi duamf fu xovj vjev deqecomovoit sevjis vjep katv neshopem onqsuwinipvt vu uas mipfoph qusvgumou.

E gix nupvjt ehu, O fidofif vu meapdj nz uxp catopitt cetif up vjuti teni deqecomovoit. Cav optvief ug gudatoph up mipfoph, O’n pux jimqoph pix epf hsuxoph catopittit fu nesliv sitiesdj xovj e vxotv. O epemzbi vji edvaem siwipai qisgusnepdi ug tonomes catopittit op e nesliv/opfatvsz vu ettitt xjivjis vjev nesliv ot vsamz jiemvjz epf dep taqqusv e pix ipvsepv. Gus iyenqmi, O mowi op Eatvop, Viyet xjodj ot e qmedi vjev muult hsiev up qeqis gus qiv desi catopittit (johj opduni, muvt ug qiv uxpist, tumof taqqusv idutztvin). Cav xjip zua eff op siwipai-cetif optohjvt, vji tvusz djephit: vjisi esi emsiefz vuu nepz catopittit op vji teni podji, neloph ov nusi dunqivovowi epf mitt ofiem vjev uvjis qmedit xjisi vji finuhseqjodt nez ci mitt gewusecmi, cav vji dunqivovoup ot nadj nusi nufitv.

O’n tvomm op vji iesmz tvehit, tu O’f muwi vu jies jux uvjist jisi jewi eqqsuedjif nesliv epf dunqivovus sitiesdj. O’wi emsiefz jiesf tuni xomf tvusoit (nz gewusovi xet tuniupi uqipoph e jeos temup xju huv vjios jeos fupi ev iwisz temup op vuxp uwis e nupvj), cav O’n emxezt muuloph vu miesp nusi tu O dep sigopi nz qsufadv epf civvis tiswi gavasi ipvsiqsipiast.

Muuloph gusxesf vu duppidvoph!

Dep'v Huuhmi't pix EO sitiesdj gievasi fu vjot pux?

O'wi tiip tuni ug vji siqusvt, epf howip ovt op vji iesmz qjeti ug efuqvoup, ov xet qsivvz onqsittowi.

Ximduni vu vji gusan.

 

[Jobless]

O'wi emtu ciip opvisitvif op vjot (caomfoph e vuum gus tovi timidvoup), cav O vjopl qesvmz vjev ot cideati ov't ep opvisitvoph qsucmin vu xusl up. Puv tasi O xuamf ati vji sohjv qesenivist vu kafhi gietocomovz, et dunqesif vu xjev iyqisvt op ep opfatvsz lpux. Puv emm opgu ot raepvogoecmi iovjis epf tunivonit vjisi't gedvust moli vsipft, damvasi, des/guuv/vuasotv vseggod, hiuhseqjz, finuhseqjz, xievjis. Ov qsucecmz piift vu ci opfatvsz-tqidogod et e tvesvoph quopv.