IV. Customer Analysis
You can download our Car Rental 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 in a 10 mile radius.
The area we serve is near the airport and populated mostly by the middle and upper class and lead busy lifestyles; as a result, they have both the need for car rental services and the means to pay for it.
The precise demographics of the town in which our location resides is as follows:
|Target Population by Age Group|
|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%|
The Company will primarily target the following three customer segments:
- Travelers/Tourists: Families with children and couples are frequently visiting the [Location] area for vacation and recreation. Tourists are great advertisers to future visitors especially when they have a pleasant experience with their car rental service.
- Businesses: Companies rent a significant number of vehicles for corporate contracts. Since the company is located at the center of the city, executives and businessmen use car rental services for important business meetings and fetching VIPs to and from the airport to make a good impression.
- Local customers: This segment comprises loyal locals who use car rental services for temporary use, special events like weddings, or out of town trips with friends and family.