IV. Customer Analysis
This Section's Contents
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Demographic Profile of Target Market
[Company Name] will serve individuals building their own homes, architects, and real estate development companies in [company location] and the immediately surrounding area within a 20 mile radius.
The area we serve is suburban, with 80% of residents being homeowners and 20% being renters.
The precise demographics of the town in which our location resides is as follows:
| Subject | Washington-Arlington-Alexandria, DC-VA-MD-WV Metro Area | |
|---|---|---|
| Estimate | Percent | |
| Total housing units | 2,266,555 | 2,266,555 |
| Occupied housing units | 2,112,551 | 93.20% |
| Vacant housing units | 154,004 | 6.80% |
| Homeowner vacancy rate | 1.3 | (X) |
| Rental vacancy rate | 5 | (X) |
| Total housing units | 2,266,555 | 2,266,555 |
| 1-unit, detached | 1,059,437 | 46.70% |
| 1-unit, attached | 445,061 | 19.60% |
| 2 units | 21,231 | 0.90% |
| 3 or 4 units | 51,915 | 2.30% |
| 5 to 9 units | 109,615 | 4.80% |
| 10 to 19 units | 218,602 | 9.60% |
| 20 or more units | 344,992 | 15.20% |
| Mobile home | 15,101 | 0.70% |
| Boat, RV, van, etc. | 601 | 0.00% |
| Total housing units | 2,266,555 | 2,266,555 |
| Occupied housing units | 2,112,551 | 2,112,551 |
| Owner-occupied | 1,345,078 | 63.70% |
| Renter-occupied | 767,473 | 36.30% |
| Owner-occupied units | 1,345,078 | 1,345,078 |
| Less than $50,000 | 29,358 | 2.20% |
| $50,000 to $99,999 | 20,932 | 1.60% |
| $100,000 to $149,999 | 49,846 | 3.70% |
| $150,000 to $199,999 | 100,706 | 7.50% |
| $200,000 to $299,999 | 276,279 | 20.50% |
| $300,000 to $499,999 | 454,185 | 33.80% |
| $500,000 to $999,999 | 347,888 | 25.90% |
| $1,000,000 or more | 65,884 | 4.90% |
| Median (dollars) | 373,300 | (X) |
Customer Segmentation
The Company will primarily target the following three customer segments:
- Individuals Building Their Own Homes: These individuals tend to be wealthier than the average resident, very particular about the home they want to live in, and interested in high quality at the best possible price.
- Architects: Architects may use our services beginning in the design phase, when we can offer real world feedback on the costs of their designs and offer suggestions. Architects who are managing construction projects for their clients may hire our firm to subcontract the entire project to or a portion of the project.
- Real Estate Developers: Real estate development firms, whether hired by individual clients or working on a group of properties on spec, are looking to maintain long-term relationships with quality contractors who can work to a budget and schedule. They seek to create mutually beneficial relationships for both partners.
