V. Competitive Analysis
You can download our Business Plan Template (including a full, customizable financial model) to your computer here.
Direct & Indirect Competitors
The following businesses are located within a 5 mile radius of [Company Name], thus providing either direct or indirect competition for customers:
Dance Academy is a dance studio in the heart of the city. The studio was established in 1994 and offers the following types of dance instruction: ballet, pointe, tap, jazz, hip-hop, acrobatics, contemporary, creative movement, lyrical, and musical theater. Dance Academy offers both recreational dance instruction and competitive dance instruction. Recreational and competitive tuition fees are the same price points and are based on the number of instructional hours per week.
The dance studio is owned and directed by Melissa Sturch who received her dance training at Xavier College.
Stevens Dance Studio
Located just outside the city, Stevens Dance Studio offers a variety of dance options for all skill levels and ages. Classes taught at Stevens Dance Studios include ballet, tap, jazz, tumbling, hip hop, acrobatics, and contemporary. Classes start at the young age of 18 months where the studio holds a parent and tot class to teach toddlers dance basics and to grow motor skills all the way through intermediate classes for children/teenagers between the ages of 12 to 18. Monthly tuition for children/teenagers between the ages of 7 and 18 is based on the number of hours of instruction per week at the studio.
Jo Jo Studios
Jo Jo Studios is a dance studio that specializes in dance lessons of all types for all skill levels. Types of dance instructed at Jo Jo Studios include ballet, tap, creative movement, hip hop, tumbling, acrobatics, jazz, lyrical, technique, and pointe. The dance academy offers classes to children as young as two years old to 19 year olds. In addition, the academy forms competition teams where they compete in a minimum of two regional competitions and a summer national competition each year. Tuition pricing is based on the number of instruction hours per week and is as follows.
Jo Jo Studios is owned and directed by Jo Jo Susie and has been in business for over 35 years.
|Weekly Class||Monthly Class Tuition|
|Stevens Dance Studio||$18||$85|
|Jo Jo Studios||$21||$80|
[Company Name] enjoys several advantages over its competitors. These advantages include:
- Location: [Company Name]’s location is near the center of town, giving us access to commuters going to and leaving the train station, local office workers, and city traffic. We also offer adequate parking making it easy for customers to patronize us.
- Great service at an affordable price: The services offered by [Company Name] are similar in quality to its most premium positioned competitor. [Company Name] will offer these services at a much more affordable price.
- Management: Our management team has years of business and marketing experience that allows us to market to and serve customers in a much more sophisticated manner than our competitors.
- Relationships: Having lived in the community for 25 years, [Founder’s Name] knows all of the local leaders, newspapers and other influences. As such, it will be relatively easy for [Company Name] to build brand awareness and an initial customer base.