Hi! I am trying to estimate the market size of an ice rink in London in terms of revenue p.a.
This is my approach. Please let me know if you agree or would modify anything-
Revenue = Number of People who visit p.a. (A) X Average spend per person (B)
A) Number of people who visit = Number of operating months x Max. people on the rink at any time x Number of sessions per week x Utilization
X
B) Average spend per person = Tickets + Extras like gloves (% of total number of ticketholders) + Food drinks (% of total number of ticketholders)
Would you agree with my approach? Also how would you triangulate this? Any help is much appreciated!