Car Dealership Business Plan Template [Updated 2024]

IV. Customer Analysis

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

Demographic Profile of Target Market

[Company Name] will serve the residents of [company location] and the immediately surrounding areas as well as those who work in [company location].

The area we serve is populated mostly by middle class Millennials; as a result, they have the means to pay for higher quality vehicles. Further, many are looking to transition to hybrid or electric vehicles, and middle class earners are the primary demographic for these types of vehicle.

The precise demographics of the town in which our retail location resides is as follows:

	Wilmette	Winnetka
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

The Company will primarily target the following three customer segments:

Generation X: The town has a sizeable population of middle-aged people. As this age group finishes having children, they are inclined to purchase smaller and/or more expensive automobiles. Further, people in this demographic have well-established careers, and disposable income. [Company name]’s inventory will include a variety of options to meet the needs of this demographic.

Millennials: The town has a significant population of millennials. These individuals are more likely to be environmentally conscious, and therefore more likely to demand the latest advances in clean car technology. This demographic is well connected to each other and as such are a prime source of referral business. [Company name] expects to regularly acquire new customers from referrals.

Professionals: [Company name] is located along a well-traveled commute route. By offering convenient location and exceptional service to the customer, [Company name] will draw in working men and women who want to drop off their vehicle for maintenance or service during the working day.