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 firms are located within a ten mile radius of [Company Name], thus providing either direct or indirect competition for customers:
Mortgage Officers
Mortgage Officers is a loan officer company that employs over twenty loan officers. These professionals come with a variety of backgrounds and expertise, meaning the company can help its clients thoroughly throughout the mortgage process. They help their clients through every step of the process, from having a detailed interview with clients about their credit history to thoroughly explaining the approval decision and what clients need to do next. Clients are never left alone during the process and are guided by experts every step of the way.
J.D. Mortgages
J.D. Mortgages is run by J.D. Smith, who has worked in the mortgage business for thirty years. He has considerable knowledge of the mortgage industry and the local housing industry which helps to serve his clients more effectively than most loan officers. He also brings an old-school charm, as he prefers to meet all his clients in person and fill out paperwork manually rather than on a computer. As such, he is particularly popular with elderly demographics who are in the process of getting a mortgage.
Alexa Bartholemew, Loan Officer
Alexa Bartholemew is a new loan officer that just opened up her office last year. Since then, she has gained a considerable clientele through her empathy, knowledge, and helpfulness. She has several great ratings online and has helped dozens of clients get approved for their mortgages. As such, she is expected to be a popular competitor in the local area.
Competitive Advantage
[Company Name] enjoys several advantages over its competitors. These advantages include:
- Location: [Company Name]’s location is near the center of town, in the financial district of the city. It’s visible from the street with many working professionals walking to and from work on a daily basis; giving passersby a direct look at our firm, most of which are part of our target market.
- Client oriented service: [Company Name] will have a full time assistant to primarily keep in contact with clients and answer their everyday questions.
- Management: [Founder’s Name] has been extremely successful working in the mortgage sector and will be able to use his previous experience to grant his clients detailed insight into getting approved for a mortgage. His unique qualifications will serve customers in a much more sophisticated manner than [Company Name]’s competitors.
- Relationships: Having lived in the community for 25 years, [Founder’s Name] knows many of the local leaders, newspapers and other influences. As such, he will be able to build a large clientbase in no time.
