Hi,
How would you estimate the market size for van (light trucks) repairs in the UK?
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Hi,
I would calculate it the following way:
1) Calculating the number of private vehicles
- Calculate the number of households in UK
- Multiply by the average number of cars per household
2) Calculating the number of Vans
- You can say for example that every 10th car is a Van based on your observations.
- Number of Vans = Number of private cars / 9
3) Calculating the size of the market:
- Calculate the Average number of repairs per lifetime of a van (e.g. 0 in the 1st year, 3-5 in the 10th year)
- Divide by the lifetime of a van to get the average number of the repairs per year
- Multiply by the number of Vans
- You can apply the average cost of a truck repair that the interviewer provides
Best
