mercanta The Mercantile Arts
Market Intelligence WorkbenchGTA Fitness256 FSAs
Market Size (TAM)
$2.1–2.8B
M1 + M3 built
Branded Locations
136
5 chains + boutiques
FSA Coverage
142
with busyness signal
Confidence Index
65%
Rising through validation · 2/5 calibrated · 94% Tier-1
2 Exceptions Calibration pending · Low coverage gaps
1. Calibration pending: M2 (Chain revenue roll-up), M4 (Facility capex), and M5 (Ancillary services) dollarization vertices are not yet built. Band will narrow when these complete by end of Q3.

2. Coverage gaps: 5 FSAs have low bench-busyness coverage (fewer than 3 venues with Popular-Times data). Treat opportunity scores in those areas with caution until ground verification.

M5A and L4W (composite-vs-busyness divergence) are documented findings with stated hypotheses, not open exceptions — see the Data Confidence tab.
GTA · Boutique & Luxury Fitness · July 2026

Saved Views — Filter-Aware Presets

Each preset applies both a tab and a filter-state combo. Illustrative

Save current view (command rail) would add a new chip here, named by the analyst.

Scoped Export Illustrative

Export reflects the active filter scope, not always the full GTA dataset.

mercanta-intel_GTA-full_2026-07-09.csv

Analyst Notebook — Pinned Observations

Pin any insight ( icon on a "So What" card, any tab) to add it here. Illustrative

Pinned Observations (3)

Barry's positioning: High attention (boutique buzz), small footprint. Growth vector is horizontal scale, not vertical deepening. Adjacent FSAs (M4A, M4B) are high-priority for next unit.

Validation anomaly: Downtown core (M5A) shows low composite but high busyness. Needs ground verification. → M5A

Validation anomaly (2): Mississauga corridor (L4W) shows high composite but low busyness — opposite direction from M5A. → L4W

+ Pin an insight from any tab to add it here

Active scope:

Scope Filter

Narrows every tab to the selected geography, segment, brand, and confidence scope. Illustrative — real build recomputes against the live feature store; this mockup swaps between a few canned scenarios.

Geography

M4 M5 M6 905 belt (L-prefix)
Toronto Peel York Durham

Lifestyle Segment

Recorded in Active Scope below; doesn't yet move any KPI number in this mockup (only Geography does — see note above).

Archetype / Brand

Big-box Premium Boutique

Also filters the brand roster on the Competitors tab.

Opportunity Score ≥

0
Confidence: Strong only
Conservative Mode (hide Tier-3)
Anomalies only

Market Overview

Understand current market composition, growth potential, and where confidence is strongest.

Key Question
What's the current market composition and growth potential?
Source Basis
Retail census + verified chain filings (Tier 1) · POI footprint share (Tier 1)
Confidence State
Strong (2/5 M's complete)
Last Refreshed
July 9, 2026

Market Composition

38% Chains 22% Boutique 25% Independent 15% Other*

* Other = unclassified format: unaffiliated / recently-opened studios not yet matched to an archetype by the POI classifier.

TAM Band

$2.1–2.8B

Consensus

Footprint Lead

Gold's

18 locations

Buzz Lead

Boutique

65% share

Confidence

2/5

M1, M3 done

FSA Coverage

142

w/ busyness

A $2.1–2.8B GTA fitness opportunity, split two ways: big-box scale (Gold's, LA Fitness — 57% of footprint) versus boutique buzz (Barry's, Orangetheory — 65% of online engagement). Highest-confidence targets are affluent urban cores and the Urban Professional segment; family suburbs are the emerging opportunity as income there catches up. The TAM band narrows further as M2/M4/M5 complete by Q3.

Market Size
$2.5B
Consensus midpoint
Branded Footprint
136
5 major chains
Footprint Dominance
57%
Gold's + LA
Boutique Buzz
65%
Attention share
Busyness Overlap
142
FSAs confirmed
TAM Coverage
94%
Tier-1 clean

Competitive Positioning

Big-box dominates footprint; boutique dominates online buzz — a clean bifurcation. Full Growth Quadrant (footprint × attention share) lives on the Competitors tab, next to the brand roster it explains.

Cross-Tab Reference — Segments & Competitors at a Glance

Inline detail from other tabs, surfaced here only in Dossier mode — the deep-read view for someone about to act on this market.

From Segments

Affluent Established (92% Premium-Fit, 34 FSAs) and Urban Professional (70%, 28 FSAs) are the two segments ready for direct targeting without further validation — see Segments tab.

From Competitors

Barry's (8 locations, rising momentum) is the sharpest boutique growth vector; Gold's and LA Fitness hold 57% of footprint but flat-to-mature momentum — see Competitors tab.

From Methodology

2 of 5 dollarization vertices (M1, M3) are calibrated; the $2.1–2.8B band narrows as M2/M4/M5 complete — see Methodology tab.

Key Insights

TAM Band Scope

$2.1–2.8B

$700M spread reflects uncertainty across 5 methodologies; band narrows as M2, M4, M5 calibrate. This is a wider, earlier full-scope estimate — the KPI strip above shows the current bound consensus midpoint (M1+M3), a separate, tighter figure that will converge with this band as M2/M4/M5 land.

Footprint Dominance

Gold's, LA Fitness lead

18 + 14 locations respectively; 57% of branded footprint split between 2 big-box chains.

Boutique Buzz

84 boutiques capture mindshare

Collective boutique segment is "Niche & Buzzing" (high attention, small individual footprint).

Composite Confidence

94% Tier-1 coverage

Clean scoring composite relies heavily on verified open data; minimal licensed-Tier-2 leakage.

Tier-1 Coverage

256/256 FSAs

All GTA trade areas have scoring; 142 FSAs have bench-busyness signal for validation.

Executive Summary

$2.1–2.8B GTA fitness TAM; high-confidence urban opportunity.

Market shows strong fundamentals across affluent and professional segments. Big-box-boutique bifurcation creates distinct positioning lanes. Band narrows Q3 with final 3 dollarization vertices. Proceed to site selection with confidence in FSA-level composite scores.

Narrowing the market read — who's actually here

Demographic Segments

Understand the five lifestyle segments, their demand characteristics, and confidence levels across the region.

Key Question
Which demographic segments dominate each FSA?
Source Basis
FSA lifestyle segmentation model output (Tier 1) · census demand-field inputs (Tier 1)
Confidence State
Strong & Moderate (per segment)
Last Refreshed
July 9, 2026
The GTA's population segments into five lifestyle cohorts, each with distinct demographics, income, and education profiles. Confidence flags indicate marker density and epistemic certainty.
AE

Affluent Established

Strong 34 FSAs
92% Premium-Fit
Income
95%
Education
85%
Density
72%
Digital
68%

High discretionary income, established professionals. Premium spending power and brand loyalty. Strong marker coverage enables confident targeting.

→ Ready for direct targeting — strong confidence supports commitment without further validation.

UP

Urban Professional

Strong 28 FSAs
70% Premium-Fit
Income
78%
Education
80%
Density
88%
Digital
92%

Young professionals in dense urban cores. Value time-efficiency and premium convenience. Digital-native, reviews and social-media driven.

→ Ready for direct targeting — strong confidence supports commitment without further validation.

EF

Emerging Family Suburb

Moderate 52 FSAs
58% Premium-Fit
Income
65%
Education
55%
Density
52%
Digital
75%

Young families expanding into suburbs. Moderate data coverage — segment confidence is developing as markers accumulate.

→ Recommend a field survey before committing budget — moderate confidence means the marker density hasn't caught up yet.

MM

Mainstream Midmarket

Strong 78 FSAs
38% Premium-Fit
Income
48%
Education
42%
Density
62%
Digital
55%

Largest segment. Value-conscious, price-sensitive but willing to pay for quality. Strong coverage enables broad reach.

→ Deprioritize for premium boutique positioning — data confidence is strong, but low Premium-Fit points to value-tier formats instead.

VU

Value Underserved

Moderate 64 FSAs
20% Premium-Fit
Income
32%
Education
28%
Density
48%
Digital
42%

Price-sensitive, limited discretionary income. Opportunity for accessible, community-driven formats. Growing segment with moderate marker coverage.

→ Not a fit for premium/boutique concepts. Recommend a field survey only if evaluating a value-tier or community format here.

Segment confidence: Strong (●) indicates dense marker coverage and high epistemic certainty. Moderate (◐) indicates sparse data — the segment is real but less densely validated. Both are usable; confidence will improve over time.

Segmentation Insight

Affluent & Urban Professional are high-confidence targets.

These segments command premium spending power and cluster in walkable, high-density cores. Emerging and Value segments show growth opportunity but need additional marker validation. Stage portfolio expansion around confidence levels.

Narrowing further — who else is already competing

Competitive Landscape

Analyze brand positioning, footprint distribution, and market share dynamics across archetypes.

Key Question
Who are we competing with, and how confident are we in each figure?
Source Basis
POI footprint share (Tier 1) · Corporate AUV filings (Tier 2) · Review-based attention share (Tier 3, bench)
Confidence State
Tier 1 footprint; Tier 2 AUV
Last Refreshed
July 9, 2026
The market splits into three archetypes: big-box chains, premium chains, and independent boutiques. Footprint share (location count) and attention share (online engagement) are two distinct lenses.

The Growth Quadrant below is the hero competitive-positioning artifact for this roster — footprint share (location count) plotted against attention share (online engagement).

Growth Quadrant: Footprint vs. Attention Share

Each brand positioned by location count (x-axis) and online engagement (y-axis). Quadrants reveal strategic positioning: who dominates footprint, who captures buzz, or both. Illustrative density — the 5 named chains are labeled; the surrounding cluster represents the ~24 tracked brands (41 brand-by-archetype rows) the real chart plots from footprint-share and attention-share market-share data.

Niche & Buzzing Dominant & Buzzing Niche & Quiet Big but Quiet Footprint Share → Attention Share → Gold's LA Fitness Boutique Barry's Orangetheory
Dominant & Buzzing
Large footprint + high attention. Growth targets.
Niche & Buzzing
Small footprint + high engagement (boutique strength).
Big but Quiet
Large footprint + low engagement (mature, price-driven).
Niche & Quiet
Small footprint + low engagement (emerging or low-profile).

Brand Roster: Footprint, AUV, & Tier

AUV figures are Tier-2, unverified secondary-source estimates for every chain except Gold's. AUV is usually the first number a client anchors on — treat every AUV in this table as a directional corporate-filing estimate, not a confirmed per-site figure, until a calibration anchor lands (D$5).

Momentum sparklines show illustrative 9-month trajectories — each brand's shape is distinct (Gold's/Barry's rising, LA Fitness flat/mature, Orangetheory declining, Boutique collective volatile) to represent real archetype-level trend divergence.

Brand Locations Momentum AUV (est.) Archetype Tier / Verification
GG
Gold's Gym
18 $1.2–1.8M Big-box Tier 1
LA
LA Fitness / Equinox
14 $2.1–2.9M Big-box Tier 2 Unverified
BA
Barry's Bootcamp
8 $3.2–4.1M Premium Tier 2 Unverified
OT
Orangetheory
12 $1.8–2.4M Premium Tier 2 Unverified
BO
Boutique (collective)
84 $0.4–1.2M Boutique Tier 3 Scraped
Two distinct lenses: Footprint share tells you who dominates locations; attention share (reviews, engagement) tells you who captures mindshare. Both matter for positioning strategy.

Competitive Positioning

Big-box dominates locations; boutique dominates buzz.

Market shows classic bifurcation. Gold's & LA own scale; Barry's & Orangetheory own engagement. Boutique collective has highest per-unit premium potential. Competitive opportunity exists in underserved midmarket (high volume, moderate price).

Beyond the market read — a specific launch, priced

Revenue Forecast & Capture Simulation

Pick a site and a format. The engine prices that specific launch — projected captured revenue, member volume against physical capacity, and exactly which incumbents lose the share — over the same segment × region board the Overview and Map tabs already read.

Key Question
What would this specific (site, format) launch actually capture in dollars, and from whom?
Source Basis
Segment × region Potential (μ*-reconciled) × segment-aware Extended-Huff capture × capacity-gated launch simulation
Confidence State
Directional — a calibrated range, not a promised number (full methodology below)
Last Refreshed
July 10, 2026
Pick a site and format, shape who you're targeting and what you're bringing, and see the projected capture update live. The full math and caveats are one click away at the bottom — not the headline.

1 · Market Snapshot

Site Illustrative — swaps between 3 precomputed sites, not a live board recompute

Format

2 · Targeting & Offer Price & target-segment are real inputs; the rest express strategic intent

Who you want, what you're bringing, and how the P&L shape looks — combined with this scenario's real data into the fit scores in Section 3.

Presets

① Customer Target — who you're aiming at

Wealth / household income emphasis50

Broad income reach ↔ upper-income only

Age skew50

Older skew ↔ younger / young-adult

Education emphasis50

Broad ↔ bachelor's+ only

Household type — families vs. singles50

Singles/roommates ↔ family households

Wellness intensity50

Casual exerciser ↔ wellness/recovery-led

② Offer & Price — what you're bringing, and at what price

Real inputs — these two flow into the modeled $ in Section 3, not just a heuristic

$ /mo · default is this format's modeled average

At your price

$848,392 /yr

426 members × $166/mo × 12

From your target segment

$847,347 /yr

100.0% of modeled capture — no targeting applied

Service depth50

Self-serve floor ↔ full-service, coached

Class intensity50

Open-floor gym ↔ class-led studio

Premium feel50

Functional/value ↔ boutique/luxe finish

Amenity emphasis50

Bare-bones ↔ spa/recovery/lounge-heavy

③ Access & Friction — how far people will travel

Drive-time / commute tolerance50

Real model fixes this at 15 min — exploring a relaxed radius

Transit friendliness importance50
Parking dependence50
Urban ↔ suburban suitability50

Suburban-suited ↔ dense urban-suited

Time-of-day flexibility need50

④ Competitive Steal — who you expect to take share from

Who do you expect to take share from? These five weights auto-normalize to 100% as you drag — a real mechanic (arithmetic), not a real prediction; the actual "who loses share" data is the Displaced Incumbents table in Section 4.

Premium chains (GoodLife, LA Fitness…)30
Budget / HVLP big-box20
Other boutique loyalists20
Non-consumers (net-new to the category)20
Unmodeled leakage (municipal rec, home)10

⑤ Financial Shape — how the P&L ramps

Ancillary revenue uplift50

Retail, PT add-ons, day passes — not in Section 4's modeled $

Opening ramp speed50

Slow build (12+ mo) ↔ fast ramp

Utilization ceiling target50

Section 4 fixes this at 85% — exploring other targets

Retention assumption50

High monthly churn ↔ long membership life

What's not built in this exploration

Parked, not forgotten: a feasible-pricing-band output, lock/unlock controls per slider, a daypart/time-of-day demand lens, an explicit leakage-recapture estimator, and a fully generative offer-recommendation layer (Section 3's recommended action is rule-based, not generative). All would need either real modeling work (segment_fit config extension + a calibration anchor) or a product decision on how much of this to commit to before building it for real — see docs/SEGMENT-MODEL-PLAN.md for the phased build discipline this repo already follows.

3 · Projected Outcomes

Projected Year-1 Capture — Boutique at Erin Mills, Mississauga (L5M)

Erin Mills, Mississauga — a 905 affluent suburb.

Scenario mode

Captured Revenue

$847,347

illustrative band $660K–$1.03M

Members Captured

426

of 1,275 capacity ceiling

Capacity Utilized

33%

headroom — demand share binds first, not the box

Huff Share of Pool

1.28%

of $66.2M reachable, split with 276 rivals

01,275 effective capacity (1,500 × 85% utilization)

Fit Scores — simple heuristics grounded in this scenario's real segment mix, price, and pool size; not the Huff engine

Target-Fit Score

your Customer Target sliders vs. this site's real segment mix

Price-Fit Score

your price (Section 2) vs. this format's modeled average

White-Space Score

this site's reachable pool ÷ rival count, ranked vs. the other 2 sites

Scores recompute live from the current site, format, price, and sliders above — a 100/100 on page load isn't a bug: it just means today's default price happens to equal this format's modeled average, or this site happens to rank best of the 3 for white space. Nudge a slider or switch site/format to see them move.

Who You'd Be Winning From — real, from the top displaced incumbents (Section 4)

3 of the top 3 incumbents losing share are Premium Big-Box.

Sensitivity — the bigger lever

Format
±$489K
Site
±$342K

Computing…

Try Next — rule-based, not generative

Scenario Comparison — the 3 modeled sites at the current format (Boutique)

ⓘ About this model — what "directional" means, and the two open gaps before this ships (click to expand)
What "directional" means here, precisely: (1) the market-size triangulation band (μ* ± 7%) does not yet propagate into these per-site figures — the point estimate above is currently shown with zero inherited uncertainty from that upstream band, a tracked build gap, not an oversight; (2) the Huff capture parameters (segment fit by income/education/age, distance decay τ, leakage) are documented defaults — plausible, not yet calibrated against a ground-truth anchor (GSA calibration deferred). The illustrative band shown above is sized off a published benchmark for this class of model (22.3% store-level MAPE, a comparable segmented-Huff study — see Methodology), not a measured error of this repo's own model. Treat it as "a band this shape is plausible," not "we measured ±22% here."
Why this ships loose (R&D) and what closes it

Constitution Principle 4 (directional, phased): per-site estimation is allowed for exploration and calibration during R&D, tracked and marked provisional — this tab. Before any figure like this reaches a customer, it must carry a real confidence band and explicit caveats (not a literature stand-in), and small-cell suppression (n<3 or one incumbent >50% of a cell) must be wired in — both are open items, not silently passed. See docs/STATE-OF-THE-BOARD-2026-07-10.md.

4 · Methodology & Provenance — the math behind the number above

How This Number Is Built — Three-Way Gate

Bounded by three independent ceilings: reachable Potential, competitive Huff share, and format capacity — whichever binds is named explicitly.

1. Reachable Potential — $ pool within ~15 min$66.2M

reachable from 6 origin FSAs; competed for by every rival gym those FSAs can also reach

2. × Huff share — brand × segment fit × distance decay1.28%

276 other rivals share the rest, plus a fixed 15% leaks to unmodeled channels

3. Capacity gate — capacity × 85% utilizationnot binding

the modeled demand share is well under the physical ceiling in this scenario — competitive share binds first, not square footage

$847,347 / 426 members, capacity-gated. Invariant test →

Who You'd Actually Capture — Segment Mix (click to expand)

Income × education × age from the launch simulation — who the Huff model says this format wins here, not the region's overall demographic mix.

Household income

Upper 72.1%Middle 22.7%Lower 5.3%

Education

Bachelor's+ 55.0%No bachelor's 45.0%

Age band

Young adult 38.1%Prime 35.1%Older 26.8%

Who Loses Share — Displaced Incumbents

276 incumbents lose share here; top 3 by dollars lost:

Rival archetype# incumbentsModeled $ lost to this launch (band)
Premium Big-Box14−$160,241 ($105K–$204K)
Boutique55−$195,822 ($129K–$249K)
HVLP Big-Box10−$64,815 ($43K–$82K)

Small-cell suppression not yet wired in — tracked ship-gate item. See Data Confidence.

Plausibility Check vs. a Disclosed Comparable Tier-2 (click to expand)

Xponential Fitness Portfolio (Club Pilates / StretchLab / YogaSix / Pure Barre) reports a $952,150 CAD average-unit volume, sourced from FDD Item 19 (a franchisor's disclosed financial-performance filing, licensed Tier-2). This model's Boutique capture at L5M — $847,347 — lands in the same order of magnitude for a new entrant. A sniff test, not a calibration: different site, brand mix, and year. This figure is never blended into the clean modeled $ above — internal comparison only, per this project's data-tiering rule that licensed third-party figures can't ship in a client-facing number.

Key Insights

Capacity Isn't the Constraint

6–33% utilized across every scenario tried

Every (site, format) combination tested lands well under its physical member ceiling. Competitive Huff share limits revenue here, not square footage — a genuinely useful finding, not an assumption.

Bigger Pool ≠ Bigger Capture

Downtown's pool is 34% bigger, its capture is 5× smaller

M5V's reachable Potential ($88.7M) beats L5M's ($66.2M), but 888 incumbents already split it there vs. 276 at L5M — density of competition, not pool size, drives the Boutique gap ($162K vs. $847K).

Format Trades Share for Focus

Premium Big-Box wins ~2× the Huff share Boutique does

Wider brand attraction and slower distance decay (τ=9 vs. 6 min) cast a bigger net — but Boutique's narrower capture skews more affluent and more educated in every site tested.

Board-Level Context

85% of $1.48B Potential captured metro-wide

3,531 mapped rivals; 15% leaks to unmodeled channels (municipal rec, home workouts) by design — a fixed leakage parameter, not a measured residual.

Two Gaps Before This Ships

Band propagation + calibration

μ*'s ±7% band doesn't reach this number yet, and Huff parameters are defaults. Both are the segment track's next items — see Methodology and Data Confidence.

From Market Read to Pro Forma

A specific launch, priced — directionally, honestly, and for exactly the reasons stated above.

This tab is the difference between "here's an attractive area" and "here's what placing a Boutique at L5M would plausibly capture, from whom, against what physical ceiling." It reuses the exact deterministic engine that scores the map (no AI, same code path for base and simulated capture) — the gap to a client-facing number is the band propagation and calibration work tracked above, not a rebuild.

From one simulated launch to every site — the same math, mapped

Site Selection Intelligence

Explore opportunity scores across all 256 FSAs and identify highest-potential zones for market entry.

Key Question
Where are the highest-opportunity sites for market entry?
Source Basis
Opportunity composite score (Tier 1) · POI archetype classification (Tier 1)
Confidence State
Strong (256 FSAs)
Last Refreshed
July 9, 2026
Interactive choropleth map of opportunity scores across 256 FSAs, with layer toggles and live selection narrative.
Opportunity by FSA
Low
High opportunity 256 FSAs · rank deciles · click any FSA

Draw Region Illustrative

Real build: draw a polygon or pick an FSA cluster; the map recomputes aggregate stats for that shape live.

Layer Toggles

Location Layers

Analysis Overlays

Selected FSA

Mock: Downtown Toronto

M4B

TAM proxy: $28M–32M

Competitive density: High (8 nearby venues)

Segment fit: Urban Professional (88%)

Confidence band: Tight (verified)

Explain This Area

Downtown Toronto (M4B) is a high-opportunity zone: dense urban professional population, strong discretionary income, and established boutique presence. Barry's and independent studios cluster here. Composite score reflects strong demand fundamentals and moderate supply. Busyness data confirms high peak occupancy (76th percentile). Recommendation: high-priority site-selection target for premium concepts.

Site Selection Priority

Focus on high-composite FSAs with verified demand signals.

Urban Professional and Affluent Established cores show strongest predictability. Composite scores ranked green–tan enable rapid prioritization. Highest-confidence tier shows 94% coverage; proceed with FSA-by-FSA unit-level site work.

Before trusting any of it — how the score checks out

Data Confidence

Yes — high-opportunity areas exhibit high foot traffic. The composite score is independently confirmed against real-world busyness signals across 142 FSAs, with 2 named divergences flagged for ground verification.

Key Question
Do high-opportunity areas exhibit high foot traffic?
Source Basis
Opportunity composite score (Tier 1/2) · Google Popular-Times busyness index (Tier 3, bench)
Confidence State
High (142 FSA overlap)
Last Refreshed
July 9, 2026
The clean composite score (Tier-1/2 sources only) is independently validated against Google Popular-Times busyness data. Tier 3 bench data confirms, does not feed the composite score.

Cross-Check Coverage

142 Bench

FSAs with both composite score and Google Popular-Times busyness signal. This overlap validates the composite — high-opportunity areas should exhibit high peak busyness.

Visual Correlation: Composite Score vs. Foot Traffic

Scatter plot of 142 FSAs with both signals. Each point represents one FSA; higher placement and rightward movement indicate both strong composite score and high peak busyness.

Composite Score (Higher →) Low Mid High Low Mid High M5A L4W
Peak Busyness (Higher →)

Divergent FSAs — Ground Verification

M5A Downtown core

Composite: 41 (low)

Busyness: 88th pct. (high)

→ Model likely under-weighs walkability

L4W Mississauga corridor

Composite: 79 (high)

Busyness: 22nd pct. (low)

→ Possible POI supply overcount, or a real gap

This tab proves predictive accuracy, not provenance. Full tier classification and source lineage live on Methodology.

Validation Takeaway

Model predictive power confirmed across 142 FSAs.

Composite score correlates strongly with foot-traffic signals. Proceed with confidence in high-opportunity FSA targeting. Flag M5A and L4W for ground verification (see scatter above).

FSA Compare Illustrative

Real build: pick any 2+ FSAs from the Map tab. Mock comparison shown below.

M4B Score: 82
Segment: Urban Professional
TAM proxy: $28–32M
Competitive density: High
M9A Score: 54
Segment: Mainstream Midmarket
TAM proxy: $11–14M
Competitive density: Low
The technical appendix — sources, tiers, and confidence

Methodology & Provenance

Full transparency on data sources, tier classification, and confidence levels across all analytical sections.

Key Question
What's the provenance and reliability of all figures?
Source Basis
Source lineage ledger, covering every upstream figure on this page
Confidence State
Mixed Tier-1/2 clean; Tier-3 bench for validation only
Last Refreshed
July 9, 2026
Every figure on this page carries a source lineage and verification state. This section documents the tier and confidence profile across all major sections.

Data Pipeline: Source to Output

Left to right: inputs enter as Tier-1/2/3, flow through clean model logic, emerge as composite score, validated against bench, and exported to decision surfaces.

Raw Inputs T1/T2/T3 Clean Model T1/T2 only Composite Score Shipped Validation Overlay T3 (confirm) Outputs & Export .parquet Solid = Tier-1/2 path | Dashed = Tier-3 confirmation (never feeds score)

Tier & Verification Rollup

Section Primary Data Tier Verification Coverage
Market Size Dollarization vertices (M1–M5) 1 / 2 M1, M3 verified. M2, M4, M5 pending. $2.1–2.8B consensus
Competitors POI footprint counts + corporate AUV filings 1 / 2 AUV not independently verified. Footprint is clean. 136 locations, 5 major brands
Segments FSA lifestyle clusters (model output) 1 Confidence flags (strong/moderate) per segment 256 FSAs, 5 segments
Busyness Google Popular-Times + review velocity 3 Bench data. Confirms, does not feed composite. 142 FSAs overlap
Revenue Simulation Segment × region Potential × Extended-Huff capture × launch simulation 2 Deterministic, real pipeline output — but Huff parameters are uncalibrated defaults, and the μ* band does not yet propagate to the per-site $. Tagged Directional rather than Strong/Moderate — see below. 3 precomputed (site × format) scenarios

"Directional" confidence state: used only on the Revenue Simulation tab. Distinct from Strong/Moderate (used elsewhere for how well an FSA fits a segment archetype) — Directional means the figure is a real, deterministic model output with no AI in the loop, but its uncertainty has not yet been formally bounded: no calibration anchor, no propagated triangulation band. Read as "the shape of the answer is right; the exact number is not yet trustworthy to the dollar."

Why unverified data is allowed here: this page never ships to a customer, so bench and unverified figures stay visible with their tier — not hidden, not filtered out.
Governance detail

Constitution Principle 3 & 6 (two-phase resale-clean, provenance-first-class): this page's exclusion from the ship boundary is permanent, not a phase-1 R&D state awaiting a future ship pass. Full rationale in internal governance documentation.

Source Directory

Every figure on this page traces to one of six sources below, each tagged with its tier and joined by an internal export pipeline that stamps every record with tier + verification state before it reaches a chart.

SourceTierVerificationFreshness
Market-size consensus band1Verified (M1, M3 calibrated)2 of 5 methodology vertices complete
Brand footprint share1Verified, POI-matchedCurrent snapshot
Corporate AUV filings2Unverified, secondary-sourceUndated — pending calibration anchor
FSA lifestyle segments1Verified, model outputCurrent model run
Opportunity composite score1Verified, shippedCurrent snapshot
Google Popular-Times busyness index3Unverified, bench (confirms only)Updated monthly

Universal Provenance Example

Hover the "ⓘ source" affordance on any metric to reveal tier, freshness, and lineage. Example below:

$2.1–2.8B

Market Size (TAM)

ⓘ source
Tier: 1 (Tier-1 clean)
Source: Retail census + verified chain filings (Tier 1)
Freshness: M1, M3 calibrated; M2, M4, M5 pending
Lineage: Consensus band across 5 dollarization methodologies

142

FSAs with busyness validation

ⓘ source
Tier: 3 (Tier-3 bench)
Source: Google Popular-Times busyness index (Tier 3, bench)
Freshness: Google Popular-Times, updated monthly
Usage: Confirms composite; does not feed score

34

Affluent Established FSAs

ⓘ source
Tier: 1 (Tier-1 clean)
Source: FSA lifestyle segmentation model output (Tier 1)
Confidence: Strong (dense marker coverage)
Lineage: Lifestyle cluster model output
Developer Reference: Source-to-Section Lineage Diagram

Which internal data exports flow into which analytical section. Representative sampling; not exhaustive. File-level detail — not needed for normal analyst use of this page.

market _size brand _share segments .parquet busyness (Tier-3) Overview Tab 1 Competitors Tab 3 Segments Tab 2 Validation Tab 6

Methodology Checkpoint

Provenance fully transparent; no hidden calculations.

94% Tier-1 coverage on delivered composite. Remaining 6% leverages unverified corporate data. Ready for internal stakeholder review before next methodological refinement cycle.