A Rough Cut on Feasibility

A piano tuner recently moved to Buffalo, NY, and would like to assess the business possibilities for him in his new home. He plans to estimate how many piano tuners the greater Buffalo area can support, and compare that to the number listed in the phone book. How do we advise him as to how to estimate the "right" number of tuners for the area?

One approach is simply to guess. Would it be 1, 10, 50, or 100? Are you comfortable with this approach? I am not. An approach I would be comfortable with would be to search for data on estimates of how many piano tuners per capita there are in the U.S., and apply that ratio to the Buffalo area population (let's use 1.3 million). Is data on this likely to be available? Test your resourcefulness by trying to find it.

Assuming that data is not available, we must go to the "some assembly required" approach to estimating, that is, deriving the estimate from data which is available modified by related local and national data, norms, and "rules of thumb." While this seems so indirect as to be little better than just guessing, it can be a very useful exercise. If nothing else, it causes us to identify some important variables and how they relate to our business of interest. The inaccuracies of compounding estimates can be minimized by working in ranges to give us a "ballpark" figure.

How can I derive a meaningful estimate from generally available information? It would be interesting to know what percentage of American households own a piano, and how often they get it tuned. If the data is national, we may need to apply some local adjustment factor. Given the annual number of piano tunings, we can divide by the annual capacity of a tuner to determine how many are needed.

I will do an "off-the-top-of-my-head" calculation to illustrate the method, then leave it to you to provide real values:

Buffalo has about 400,000 households population divided by 3 members average); 8% of American households own pianos. I can think of no reason to apply any local adjustment to this figure, so we are talking about roughly 32,000 pianos. My guess is that two-thirds of all pianos are merely furniture, so that the remainder of about 11,000 are played regularly and in need of tuning. Tuners recommend that a piano be serviced twice a year, but my guess is that the average is probably once a year for active pianos, or 11,000 tunings per year.

A tuner can service 2 to 4 pianos a day; let us say 3 per day, 5 days a week, 50 weeks a year, or 750 tunings per year per tuner. To provide Buffalo's 11,000 annual tunings would require almost 15 tuners. The phone book lists 9. Sounds promising!

How do you like this? How many would you have guessed without this analysis? Does the result seem reasonable? Enough on which to base the opening of a business?

Could it have been done more scientifically? How? Would discussions with piano tuners and music stores have been useful? Are there any journals worth consulting? Would a survey have helped?

Are pianos in places other than homes? Are there tuners not listed in the yellow pages?

The Census of Retail Trade provides the average number of stores per capita for a variety of retail outlets. Based on their data, we can determine how well our proposed market area is served on a relative basis for the type of business we plan to start. For example, there is, on average, a stationery store for every 33,000 people; for every 26,000 people there is one bookstore and one nursery and garden supply store. The population can presumably support a barber shop for every 2,200 residents, and a furniture store for every 3,000.

john b. vinturella, ph.d. has almost 40 years experience as a management and strategic consultant, entrepreneur, author, and college professor. For 20 of those years, Dr. Vinturella was owner/president of a distribution company that he founded. He is a principal in business opportunity sites john b. vinturella, ph.d. and john b. vinturella, ph.d., and maintains business and political blogs.

Barrington South Lincoln Stretch rentals .. Lockport Chicago limo O’Hare
In The News:

A newly discovered security flaw with your iPhone or iPad could leave your personal information vulnerable to hackers. Kurt the CyberGuy explains.
Modeled after a traditional bell-shaped skirt worn by women in Kosovo, a theater's roof is draped entirely by solar panels to generate renewable energy on-site.
Kurt the CyberGuy explains how to protect yourself from malicious Chrome extensions that can steal sensitive information like password managers, crypto wallets and banking apps.
Stellantis' innovative STLA AutoDrive 1.0 system allows drivers to safely take their eyes off the road and their hands off the steering wheel.
Here are some travel hacks to save money on your next vacation including setting up price alerts, remaining flexible and checking for 24-hour price drops.
Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.
One report claims at least 25 million people were targeted by infostealer malware between the beginning of 2023 and the end of 2024, capturing bank card details and passwords.
The LaserWeeder G2 uses lasers, artificial intelligence and advanced robotics to offer an alternative to chemicals traditionally used in farming.
Tech expert Kurt “CyberGuy" Knutsson says a malware app called SpyLend is posing as a financial tool, hitting 100,000-plus downloads.
Tech expert Kurt “CyberGuy" Knutsson says Clone Robotics’ Protoclone mimics humans with 1,000 muscles – too human for comfort.
Tech expert Kurt “CyberGuy" Knutsson urges you to use Apple’s App Privacy Report to see what your apps are really up to.
Tech expert Kurt “CyberGuy" Knutsson talks about how to smoothly transfer your data from an old laptop to a new one using cloud storage or external drives.
Kurt the CyberGuy offers tips to safeguard your personal information as scammers become more sophisticated with scam texts and other methods.
WeRide's unmanned electric delivery van, the Robovan W5, has 194 cubic feet of cargo space and can carry payloads up to about 2,205 pounds
Kurt the CyberGuy recommends deleting 16 browser extensions immediately in response to a report saying more than 3.2 million web users were affected by a security breach.
Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.
A robotics firm in China claims a robot has performed the world's first humanoid robot front flip, which is significantly more difficult than a backflip.
A digital ID may be even more secure than a physical ID. Storing your driver's license in your Apple Wallet is an ideal solution for commuters.
A cybersecurity firm has shed some light on just how common tax scams have become. Kurt the CyberGuy offers his advice for how to protect your refund.
Lifesize Plans offers immersive walk-throughs that allow customers the opportunity to tour a home's design before construction actually begins.
Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.
A man invested $4 million in bitcoin and lost it all with a single click when he was targeted by a vishing scam, which uses phone calls to trick people.
Expandable's Touchdown is a designer trailer that promises a luxury off-grid living experience and unfolds into a home in about 15 minutes.
Major employee screening company data breach affects 3.3 million people. Tech expert Kurt “CyberGuy" Knutsson explains what happened and gives five ways to protect your data.
Kurt “CyberGuy" Knutsson reveals mind-blowing tech that gives you sunlight on demand.

How to Snuff Out the Competition Without Leaving a Mark

Does the competition drive you crazy?Are they relentless about taking... Read More

Nine Succession Planning Mistakes Small Businesses Should Avoid

1. Attempt Succession Planning Without Other Strategic Plans. Succession plans... Read More

Business Strategy Planning Made Easy

Ask Yourself three simple questions that affect your strategy planning...... Read More

To Go or No Go, That Is The Question

Last week we talked about a few of the ways... Read More

The Chasm of Change---- Restructuring ----- The Goliath

Richard L. Daft one of the country's recognized academic leadership... Read More

Your Business: Will It Have A Happy Ending?

"Begin with the end in mind," says Stephen Covey in... Read More

Planning for Success

Business planning is widely acknowledged as one of the keys... Read More

Balanced Scorecard Strategy Map

With the help of balanced scorecard strategy map, it is... Read More

Microsoft Great Plains in Advertising & Publishing ? implementation highlights

Microsoft Great Plains, former Great Plains Dynamics is excellent fit... Read More

Call in the SWOT Team: Produce More Opportunities to Expand Your Business

Have you ever done a SWOT analysis? No, it's not... Read More

Invalid Excuses for Poor Business Results - The Economy

Note to Rite Aid and CVS: It's not about the... Read More

The Best Entity to Hold Real Estate

Possibly THE most frequently asked question of me is "What... Read More

Microsoft Great Plains in Aerospace & Defense industries ? implementation & customization highlights

Microsoft Great Plains fits horizontal markets clientele and in case... Read More

Why Six Sigma Will Work in Healthcare

If ever there were an industry where we want zero... Read More

The Chief Cause of Business Failure & Success

Business rises and falls on leadership. According to business guru,... Read More

Business Results - Four Critical Success Factors

Scenario OneDuring a recent presentation, a business owner was given... Read More

Hunters and Gatherers - Are You Serving Both Their Needs?

The University of Exeter in the United Kingdom recently published... Read More

Legal Strategies in Business Plans

Writing a Business Plan these days is tough, venture capitalists... Read More

Documenting the Exit Strategy in Your Business Plan

All investors greatly desire and are motivated by a clear... Read More

Who is Responsible?

While writing an article recently on effective ways to bridge... Read More

Restaurant Startup - Part 1: Market Research ? What are Potential Competitors Doing?

The first step in starting a restaurant is proper planning.... Read More

Top Ten Traits of Strategic Thinkers

Want to become more strategic? Add these traits to your... Read More

Turning On The Lights

Fun From The StartFor those with the will to start... Read More

The Power of Planning

I am surprised how few sales professionals, independent consultants, and... Read More

Menu Driven Business Planning

A menu is the foundation of any restaurant; Guests will... Read More

Downers Grove limo Chicago ..