IV. Customer Analysis
This Section's Contents
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Demographic Profile of Target Market
[Company Name] will serve small businesses in [company location] and the immediately surrounding area.
The area we serve is suburban, with retail stores as a primary business sector. In addition, services such as photographers, hairdressers, lawyers, accountants, restaurants, guest houses, and more are located in the area.
The precise demographics of the town in which our location resides is as follows:
|Forestry, Fishing, Hunting, and Agriculture Support||0.29%|
|Transportation and Warehousing||2.83%|
|Finance and Insurance||6.56%|
|Real Estate and Rental and Leasing||4.75%|
|Professional, Scientific and Technical Services||11.36%|
|Management of Companies and Enterprises||0.69%|
|Admin, Support, Waste Mgt, Remediation Services||5.15%|
|Health Care and Social Assistance||10.80%|
|Arts, Entertainment and Recreation||1.66%|
|Accommodation and Food Services||8.59%|
|Other Services (Except Public Administration)||9.78%|
The Company will primarily target the following three customer segments:
- Service Business Startups: Startups are overwhelmed by the amount of information they must take in and the speed at which they must learn. They often seek business advisors to either assist with research and analysis, prepare a comprehensive business plan, or to offer basic feedback on the company’s ideas. As these companies grow, they can develop an ongoing mentoring relationship with a consultant, if that consultant has expertise to help them grow. Business startups have a great need for information and seek out advice on the ins and outs of how to launch and develop their systems.
- Employer service firms of up to 99 employees: Small businesses of this type need a wide range of consulting services and can benefit through the expertise of a firm focusing on the small business perspective. Although these firms may be more knowledgeable than startups, they still have a lot to learn about service industry best practices and often lack the time and forethought to engage in strategic planning.
- Nonemployer firms (“Sohos” and “Mom and Pops”): Businesses owned and operated by the same person are often unaware of basic legal, insurance, and labor regulations. Furthermore, these firms often lack exit strategies which can capture the value of what the firm has created.