V. Competitive Analysis
This Section's Contents
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 100-mile radius of [Company Name], thus providing either direct or indirect competition for customers:
Freshly Fish
Established in 1958, Freshly Fish is a fish farming company approximately 60 miles outside of [location]. Freshly Fish began its operations as a traditional fishing business. Over time, the company transitioned to become a sustainable fish farm, offering locals a selection of fresh fish and other seafood products.
Freshy Fish delivers fish to restaurants, wholesalers, and food processors across the area. The company raises and sells tilapia, tuna, and milkfish as well as other seafood products like shrimp and scallops. Pricing for Freshly Fish is based on quantity purchased. Customers who regularly purchase the fish in bulk get a 30% discount.
Freshly Fish is widely known for its varied selection of fish and seafood products, but the company doesn’t sell salmon.
Tilapia Time
Tilapia Time is a tilapia farm that is approximately 30 miles away from [company location]. This fish farm operates a closed cage system, which is one of the less eco-friendly types of aquaculture systems. The company sells its fresh tilapia to local restaurants and grocery stores. Tilapia Time also allows the public to purchase fish directly from the farm. Tilapia Time focuses its farming operations solely on tilapia production, which allows the company to be the go-to source for fresh tilapia in the area. The company currently has no plans to introduce other types of fish into its inventory.
Super Salmon
Super Salmon is a salmon farming company that is located approximately 50 miles outside of [location]. The company sells its salmon primarily to large wholesalers and food processors across the country. Super Salmon has been in business for about ten years and has developed a large b2b customer base due to its efficient production and distribution processes.
While Super Salmon has a strong branding and following, it is a large operation that works with national customers on large scale contracts and does not serve small, local restaurants or independent grocery stores.
Competitive Advantage
[Company Name] enjoys several advantages over its competitors. Those advantages include:
- Taste: [Company Name]’s salmon tastes refreshing, healthy, and delicious. Due to the company’s use of technology and fish farming best practices, [Company Name] is able to provide the tastiest and healthiest salmon on the market.
- Known Expertise: Part of the marketing strategy is to showcase the founder’s expertise and knowledge in the salmon farming industry. As a proven fish farmer, he will be able to run a highly sustainable fish farm that produces the highest quality salmon on the market.
- Management: The company’s management team has [xx] years of fish farming and business experience that boosts credibility and builds trust in the quality and value of its products.
- Relationships: Having lived in the community for [xx] years, [Founder’s Name] knows all of the local leaders, media, and other influencers. As such, it will be relatively easy for [Company Name] to build brand awareness and an initial customer base.
- Location: [Company Name] will serve local restaurants, grocery stores, and food processors throughout the region. There are no other salmon farms nearby that cater to local businesses.
