V. Competitive Analysis
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Direct & Indirect Competitors
The following establishments are located within a 10-mile radius of [Company Name], thus providing either direct or indirect competition for customers:
Dave’s Drones is the best spot in town to buy drones for one’s business or personal projects. Dave’s offers a large inventory that consists of numerous models. The store is staffed by drone pilots and experts who can help customers find the perfect drone for their needs. While Dave’s Drones does not offer direct competition with us, they are an indirect competitor since they sell drones to local residents and businesses.
Skye Photography is a local photographer who works weddings, sports events, and other special occasions. It is run by Skye, who has been a professional photographer for [X] years. Though she primarily uses regular cameras and equipment for her work, she is also an experienced drone operator and offers drone photography in her list of services.
Riverside Drone Services
Riverside Drone Services is the only other drone photography business in [Location]. They provide drone photography and videography for multiple businesses in the area. So far they have primarily partnered with real estate and construction businesses, but haven’t touched other industries that can benefit from this work. Therefore, we can reduce competition with Riverside by marketing to these underserved industries.
[Company Name] enjoys several advantages over its competitors. These advantages include:
- Service Customization: [Company Name] offers extensive services and offers customizations and special requests.
- Management: Our management team has years of drone photography experience that allows us to market and serve customers in a much more sophisticated manner than our competitors.
- Relationships: Having lived in the community for [X] years, [Founder’s Name] knows all of the local leaders, newspapers, and other influences. As such, it will be relatively easy for us to build branding and awareness of our drone business.