IV. Customer Analysis
This Section's Contents
You can download our Event Venue Business Plan Template (including a full, customizable financial model) to your computer here.
Demographic Profile of Target Market
[Company Name] will serve the businesses and residents of [Insert location] and its immediate surrounding area. The market we serve is value-conscious and has a desire for high comfort, accessibility, and complete facilities for events.
The precise demographics of the town in which our location resides is as follows:
| Glendale | Highland | |
|---|---|---|
| Total Population | 26,097 | 10,725 |
| Square Miles | 6.89 | 3.96 |
| Population Density | 3,789.20 | 2,710.80 |
| Population Male | 48.04% | 48.84% |
| Population Female | 51.96% | 51.16% |
| Target Population by Age Group | ||
| Age 18-24 | 3.68% | 3.52% |
| Age 25-34 | 5.22% | 4.50% |
| Age 35-44 | 13.80% | 13.91% |
| Age 45-54 | 18.09% | 18.22% |
| Target Population by Income | ||
| Income $50,000 to $74,999 | 11.16% | 6.00% |
| Income $75,000 to $99,999 | 10.91% | 4.41% |
| Income $100,000 to $124,999 | 9.07% | 6.40% |
| Income $125,000 to $149,999 | 9.95% | 8.02% |
| Income $150,000 to $199,999 | 12.20% | 11.11% |
| Income $200,000 and Over | 32.48% | 54.99% |
Customer Segmentation
We will primarily target the following three customer segments:
- Corporate market: Businesses hold at least one off-site event each year. These are events that the company has budgeted for and are looking forward to every year. This also includes profit organizations.
- Private market: Includes households with a high combined income that are most likely to throw a huge event in a rented venue.
- Non-profit market: These are price conscious organizations that look for a good venue for their fundraising events at low or reasonable (and discounted) rates.
