UCI New Venture Competition 2020 Is There a Market For Your - - PowerPoint PPT Presentation

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Mar 31, 2024 142 likes •316 views

UCI New Venture Competition 2020 Is There a Market For Your Product? Sara Heimann Innovation & Entrepreneurship Librarian UCI Libraries Agenda Entrepreneurship Research Explained Tour of the Entrepreneurship Research Guide

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UCI New Venture Competition 2020

Is There a Market For Your Product?

Sara Heimann

Innovation & Entrepreneurship Librarian UCI Libraries

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Agenda

Entrepreneurship Research Explained
Tour of the Entrepreneurship Research Guide
Key Research Questions
What is the outlook for my industry?
What is my market size?
Who are my competitors?
Database Demonstration
IBISWorld, Mintel, and Mergent Intellect
Research Questions Answered
Questions?

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Entrepreneurship Research

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Entrepreneurship Research Guide

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How To Get To The Guide

UCI Libraries’ website: lib.uci.edu
Direct URL: guides.lib.uci.edu/entrepreneurship
Google: uci entrepreneurship research

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Key Research Questions

1. What is the outlook for my industry?
Ex: growth rate, trends, opportunities, etc.
2. What is my market size?
Ex: estimate using TAM/SAM/SOM model
3. Who are my competitors?
Ex: direct and indirect

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Fictional Venture Example:

Sports Equipment Rental App
Post equipment you’re not

currently using and make money

Rent equipment for a limited

time instead of purchasing expensive equipment you may

nly use once

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List of Companies by Industry and Location

NAICS Code Orange County, CA

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NAICS Codes North American Industry Classification System

Source: www.census.gov/programs-surveys/economic-census/guidance/understanding- naics.html

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Key Research Questions

1. What is the outlook for my industry?
Ex: growth rate, trends, opportunities, etc.
2. What is my market size?
Ex: estimate using TAM/SAM/SOM model
3. Who are my competitors?
Ex: direct and indirect

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Research Questions Answered

1. What is the outlook for my industry?

Things I might mention:

Overall Sporting Goods Retail Industry is worth $49.4bn
Expected growth rate of 1.2% over the next 5 years (up from 0.3%

the previous 5 years)

Increased participation in team sports is expected to drive demand
Consumers are becoming more environmentally conscious, leading to

growth in the resell market

Sources: IBISWorld: Sporting Goods Stores in the US; Mintel: Sporting Goods Retail - US

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Research Questions Answered

2. What is my market size?

Estimate using TAM/SAM/SOM model:

Sources: IBISWorld: Sporting Goods Stores in the US; Mintel: Sporting Goods Retail - US

$21.35bn

Sporting equipment segment of Sporting Goods Retail in the US

$6.19bn

Sporting equipment purchased

nline

$1.67bn

Potential US market for rental service

TAM Total Attainable Market SAM Serviceable Available Market SOM Serviceable Obtainable Market

29% 27%

purchase online interested in trying rental service

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Research Questions Answered

3. Who are my competitors?

Depending on the scale of my venture, competitors may include:

National (US): Bass Pro Shops, Dick’s Sporting Goods, Big 5, REI
Local (Orange County, CA): Golf Mart, Huntington Surf and Sport,

Rock ‘N Road Cyclery

Sources: IBISWorld: Sporting Goods Stores in the US; Mergent Intellect

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Thank You & Good Luck!

Sara Heimann sheimann@uci.edu guides.lib.uci.edu/entrepreneurship