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Market sizing an opportunity
baker
subscriber Posts: 1
Hi - I'm new to the site. I'm planning to open a bakery for a cool new product in NYC. I'm open to all neighborhoods but my questions to the experts in this forum -
How do you get your market size information to validate the business? Do you use a professional service and how much would that cost? Do you interview locals or affiliated businesses in the area? Or do you just go with your gut and project the annual sales?
Any advice will be most helpful! Thanks.
How do you get your market size information to validate the business? Do you use a professional service and how much would that cost? Do you interview locals or affiliated businesses in the area? Or do you just go with your gut and project the annual sales?
Any advice will be most helpful! Thanks.
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Comments
Has anyone tried using US census data to estimate the market size?