IV. Customer Analysis
This Section's Contents
You can download our 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 immediate surrounding areas in a 10-mile radius. The area residents it will serve are affluent and expected to spend more on car detailing services per capita than the national average.
The precise demographics of this market are as follows:
| Springdale | Wyndham | |
|---|---|---|
| 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 customer segments:
- Local Car Owners: The area in which the company will operate has a significant population of car owners. Most of them need an efficient way to keep their cars well-maintained. The car detailing services can cater to their needs and schedules and even offer them mobile car detailing services if required.
- Businesses: Since [Company Name] is located near businesses with company cars and delivery cars, the company aims to be their go-to car detailing shop.
