The following was written as a part of an application for a small business loan by a group of developers in the city of Monroe. "A jazz music club in Monroe would be a tremendously profitable enterprise. Currently, the nearest jazz club is 65 miles away; thus, our proposed club, the C Note, would have the local market all to itself. Plus, jazz is extremely popular in Monroe: over 100,000 people attended Monroe's jazz festival last summer, several well-known jazz musicians live in Monroe, and the highest-rated radio program in Monroe is 'Jazz Nightly,' which airs every weeknight. Finally, a nationwide study indicates that the typical jazz fan spends close to $1,000 per year on jazz entertainment. It is clear that the C Note cannot help but make money."
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The group of developers in the city of Monroe was advokating to hold a jazz club inMonroe. However, the reason offered by the developers to hold a jazz club in Monroeis so vague to pursuade others that C Note would be tremendously profitable. Beforemaking the decision to hole C Note in Monroe, they should consider the realityof Monroe resident's requirement more thoroughly.
First of all, we know less about the geographical location of Monroe. Without knowing the area of Monroe, we have no concept about whether the jazz club held 65 miles away is far. Although the developers said that their jazz club- C Note would have the local market all to itself, they didn't really compare the locations of the two jazz clubs. Perhaps most of the residents who have a prefference to jazz club lived near the jazzclub 65 miles away.
The population of jazz would have to be reconsidered, too. As they mentioned, 100, 000people attended Monroe's jazz festival last summer, but we have not get the detailedinformation of those who attended Monroe's jazz festival. It is possible that a highpercentage of those who attended Monroe's jazz festival came from other cities except for Monroe. It is unreasonable to determine the population of jazz due to many well-knownjazz musicians living in Monroe.
Most of all, the nationalwide study the developers showed was not precise. It said that the typical jazz fan spends close to $1,000 per year on jazz entertainment. Still, we can't get from the study about how much the typical jazz fan spent on jazz club in the $1,000 spending on jazz entertainment.
There are so many records those developers in Monroe needed to investigate again beforeconvincing others to agree with holding their jazz club- C Note.
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