A Case Study: Calculation of Total Addressable Market and Client-Side Economic Advantage of an On-Demand, Temporary Staffing Agency’s (Shiftgig) Food Service Sector
Session Number
D04
Advisor(s)
Jade Martin, Shift Gig Inc
Location
A-135
Start Date
28-4-2016 12:45 PM
End Date
28-4-2016 1:10 PM
Abstract
Total addressable market refers to the percentage of a demographical population that could benefit from services offered by an entity. For the purpose of this study, total addressable market refers to the food service part-time worker demographic within cities which Shiftgig services. Economic advantage refers to the added value provided to the consumer resulting from using one service provider rather than another. This study aims to quantify these metrics conveniently and understandably. Total available/addressable market was calculated by dividing total hours worked (by Shiftgig-staffed workers) by total hours worked by the demographic. Economic advantage was calculated by taking all expenses of hiring a part-time worker and his or her hourly costs of employment (FUTA, etc.) compared to the costs of ordering a parttime worker through Shiftgig and hourly billing costs of this service. Results of total addressable market shows a current market occupancy of 0.11%. Results of economic advantage show the average breakeven point of economic advantage being 22 hours (hiring and ordering a worker for a 22 hour period has equal economic viability). Total market occupancy tracking enables the potential of new branches of a company to be approximated. Additionally, economic advantage analysis enables new consideration in revenue maximization.
A Case Study: Calculation of Total Addressable Market and Client-Side Economic Advantage of an On-Demand, Temporary Staffing Agency’s (Shiftgig) Food Service Sector
A-135
Total addressable market refers to the percentage of a demographical population that could benefit from services offered by an entity. For the purpose of this study, total addressable market refers to the food service part-time worker demographic within cities which Shiftgig services. Economic advantage refers to the added value provided to the consumer resulting from using one service provider rather than another. This study aims to quantify these metrics conveniently and understandably. Total available/addressable market was calculated by dividing total hours worked (by Shiftgig-staffed workers) by total hours worked by the demographic. Economic advantage was calculated by taking all expenses of hiring a part-time worker and his or her hourly costs of employment (FUTA, etc.) compared to the costs of ordering a parttime worker through Shiftgig and hourly billing costs of this service. Results of total addressable market shows a current market occupancy of 0.11%. Results of economic advantage show the average breakeven point of economic advantage being 22 hours (hiring and ordering a worker for a 22 hour period has equal economic viability). Total market occupancy tracking enables the potential of new branches of a company to be approximated. Additionally, economic advantage analysis enables new consideration in revenue maximization.