Hi all, how would you resolve this market sizing question: estimate the nbr of hairdressers in Berlin?
Thanks
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Market sizing - nbr of hairdressers in Berlin
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Hi,
- I would clarify first whether its hairdressers for men / women / both
- Estimate the corresponding population size (probably discount very young kids)
- Adjust the population size by the tourists, people coming from closer cities, etc.
- Estimate the average frequency of services per person (depending on the segment - men, women, etc)
- Estimate the total demand of services per day (Average frequency * population / number of days between the haircuts)
- Calculate the capacity of the average Hair Dresser (8 hours / 1 hr per haircut)
- Take into account idle time (e.g. your actual Hairdresser occupancy = total capacity / 2 assuming 50% idle time)
- Divide the total demand by the occupancy of 1 hairdresser
Best
