Chris KoernerSerial Entrepreneur and Content Creator

Agree or no? Watch ep 09 of The Koerner Office for the full thing #startup #pressurewashing

18 Apr 2024 · 1 min

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0:54

Short clip from Chris Koerner (The Koerner Office) advising entrepreneurs that markets are rarely truly "oversaturated." He recommends measuring supply and demand by scraping the number of similar businesses in comparable-sized cities and then comparing that to the target market (example: pressure washing in Roswell, New Mexico). If the raw counts look high, he advises further research into competitors' marketing quality (presence on Google Business Profile, SEO, paid ads), since poor marketing means opportunity even in apparently crowded markets.

Chapters

Every single day, people call my show and ask me the one same question. I have x business idea, but is this market oversaturated? And my answer is always the same. No, it's not oversaturated. Nothing is oversaturated. And here's why. You first need to know the supply and the demand of that idea in that market. And you probably haven't done that research yet. Here's how you do the research. Let's say you want to start a pressure washing business in Roswell, New Mexico. I'm gonna go scrape all the pressure washing businesses in cities of the same size of Roswell so I know how many can a market support. And then I'll go do the same research in Roswell and see is it over or under saturated here. Let's say it's oversaturated. Oh, I don't want to launch. No, because then you need to do more research. How well are my competitors marketing? Do they have Google my business profiles? Are they doing SEO? Are they doing pay per click? And I bet you they're not. Which means even if it looks oversaturated on the surface, it's not. Follow me for more business ideas like these.