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Looking for "Numbers" about specific Market.

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calv

New Contributor
Sep 25, 2019
8
6
Italy
Hello guys, I am doing research to start my first business and wondering if/how do you usually approach to look for the "Numbers" you need to evaluate how big is the market you are considering to enter in.
Is there any tip or website which more or less gather the main numbers related a macro area or categories of business in the world?
I am specifically looking for how much money there are in the MARTIAL ARTS/KARATE market, but after days of research can't get out with any "number".
What do you feel to suggest?
What would you do to "study" a market this point of view?
Sergio
 
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Roli

Platinum Contributor
Read Fastlane!
Read Unscripted!
Speedway Pass
Jun 3, 2015
1,608
2,618
Hello guys, I am doing research to start my first business and wondering if/how do you usually approach to look for the "Numbers" you need to evaluate how big is the market you are considering to enter in.
Is there any tip or website which more or less gather the main numbers related a macro area or categories of business in the world?
I am specifically looking for how much money there are in the MARTIAL ARTS/KARATE market, but after days of research can't get out with any "number".
What do you feel to suggest?
What would you do to "study" a market this point of view?
Sergio

First of all, that's a very broad question. The martial arts/karate market will include all of the gear bought, lessons, courses, and media. So first things first, narrow down your question to the particular aspect of karate you want to go into.

Let's assume that you want to get into lessons. Then the first thing I would do is google 'karate lessons' in your town and look at the amount of results, you can back this up with a google trends search.

After your google trends search, open up your Google Ads account (start one if you haven't got one already, it's free), then search your particular area, in this example, 'lessons'. This will give you the competitiveness of the keyword, and the estimated cost per click for that word.

If you find that the competitiveness is quite high, yet the price is quite low, then this could indicate that the area is small. For instance you might have to pay $25 per click for the term 'car insurance', but only $0.25 per click for 'samurai sword'.

Also pay attention to the ads that come up when you do these searches; are they big companies? Do they place the same ad again and again? These are indicators that the market is big.

Look at face group books and forums; how many members have they got? Again, many forums and groups with high numbers of people could indicate a strong area.

Lastly look at your competitors, use tools such as keyword spy to see what they're bidding on, and how many hits they're getting on their website and other social media channels.

Once you have the results, compare them to other non-related markets that you know are big.

Actually one more. Go down to the local reference library, and see if you can check out some Mintel reports on your chosen area, this should give you some solid numbers to work with as well.
 

calv

New Contributor
Sep 25, 2019
8
6
Italy
First of all, that's a very broad question. The martial arts/karate market will include all of the gear bought, lessons, courses, and media. So first things first, narrow down your question to the particular aspect of karate you want to go into.

Let's assume that you want to get into lessons. Then the first thing I would do is google 'karate lessons' in your town and look at the amount of results, you can back this up with a google trends search.

After your google trends search, open up your Google Ads account (start one if you haven't got one already, it's free), then search your particular area, in this example, 'lessons'. This will give you the competitiveness of the keyword, and the estimated cost per click for that word.

If you find that the competitiveness is quite high, yet the price is quite low, then this could indicate that the area is small. For instance you might have to pay $25 per click for the term 'car insurance', but only $0.25 per click for 'samurai sword'.

Also pay attention to the ads that come up when you do these searches; are they big companies? Do they place the same ad again and again? These are indicators that the market is big.

Look at face group books and forums; how many members have they got? Again, many forums and groups with high numbers of people could indicate a strong area.

Lastly look at your competitors, use tools such as keyword spy to see what they're bidding on, and how many hits they're getting on their website and other social media channels.

Once you have the results, compare them to other non-related markets that you know are big.

Actually one more. Go down to the local reference library, and see if you can check out some Mintel reports on your chosen area, this should give you some solid numbers to work with as well.
Thank you, this give me clues where to start with!
 
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sparechange

Platinum Contributor
Speedway Pass
Nov 11, 2016
2,805
4,334
Canada (Vancouver)
goo.JPG
 

sparechange

Platinum Contributor
Speedway Pass
Nov 11, 2016
2,805
4,334
Canada (Vancouver)
Some people may disagree with me, but if this is your first business don't focus on numbers. It's almost irrelevant & doesn't matter.

Go out and start learning, pick a random product for martial arts (lets say head gear) and learn how to sell that, market it and figuring out how to distribute. Retail stores? Would it just be online? There's a million things that pop up along the way.
 
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Jon L

Platinum Contributor
Read Fastlane!
Speedway Pass
Aug 22, 2015
1,634
4,314
Bellevue, WA
I agree with @sparechange. If the size of the market is $1m/year and you have 90% of the market, you could do quite well for yourself if your margins are in order.

I know of someone that does Point of Sale for a particular retail store niche. He has something like 600 customers for his POS system. I don't know his profit numbers, but do know that he employs two $150k/year developers and seems to be doing quite well financially. The total market for POS for this particular type of store can't be more than a few million a year in the US. But, that doesn't matter. This guy is making more than most of the people on this forum.
 

calv

New Contributor
Sep 25, 2019
8
6
Italy
Some people may disagree with me, but if this is your first business don't focus on numbers. It's almost irrelevant & doesn't matter.

Go out and start learning, pick a random product for martial arts (lets say head gear) and learn how to sell that, market it and figuring out how to distribute. Retail stores? Would it just be online? There's a million things that pop up along the way.
thank you! that makes sense!
 
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