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Bed and Breakfast Business Plan Template [2020 Updated]

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IV.Customer Analysis


You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Profile of Target Market

[Company Name]will serve the leisure travel market of [Insert location] and its immediate surrounding area.

The market we serve is value-conscious and has a desire for high comfort and basic amenities geared towards the family and comfort travel.

U.S. leisure travelers are more likely to book a trip this year, relying on a new resourcefulness fostered by the belt-tightening times of the Great Recession, according to new findings from a partnership/Harrison Group survey.

The number of domestic trips by US residents has turned the corner since the recession.

  • Direct spending on leisure travel by domestic and international travelers totaled $650.8 billion in 2015.
  • Spending on leisure travel generated $99.6 billion in tax revenue.
  • Nearly 4 out of 5 domestic trips taken are for leisure purposes (79%).
  • U.S. residents logged 1.7 billion person‑trips for leisure purposes last year
  • Top leisure travel activities for U.S. domestic travelers: (1) visiting relatives; (2) shopping; (3) visiting friends; (4) fine dining; and (5) beaches.

The demographic profile of the target market can be seen below:

 United States
Total Population312,796,426
Population Male49.00%
Population Female51.00%
Median Age37.5
Target Population by Age
Age 18 to 249.99%
Age 25 to 3413.08%
Age 35 to 4412.94%
Age 45 to 5414.64%
Age 55 to 6412.43%
Median Household Income$57,639
Households w/disposable income
Income $50,000 to $74,99918.03%
Income $75,000 to $99,99912.97%
Income $100,000 to $124,9998.65%
Income $125,000 to $149,9995.40%
Income $150,000 to $199,9995.12%
Income $200,000 and Over5.34%

Customer Segmentation

We will primarily target the following three market segments:

  1. The U.S. Leisure Travel Market: Travelers to [Insert Area or City] tourist attractions such as the Museum of Fine Art and the Annual Film Festival, as well as visitors to social events such as weddings.
  1. The U.S. Business Travel Market: Travelers to [Insert Area, City] corporations and events.
  1. International Tourists: Last year, there were over 903 million international tourist arrivals worldwide, with a growth of 6.6%. International tourist receipts were $856 billion, according to tourismroi.com.

bed-and-breakfast-services2

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