IV. Customer Analysis
You can download our Business Plan Template (including a full, customizable financial model) to your computer here.
Demographic Profile of Target Market
[Company Name] will serve the community residents of [Location] and its surrounding areas.
A demographic profile of the area is as follows:
|Target Population by Age Group|
|Target Population by Income|
|Income $50,000 to $74,999||11.16%||6.00%|
|Income $75,000 to $99,999||10.91%||4.41%|
|Income $100,000 to $124,999||9.07%||6.40%|
|Income $125,000 to $149,999||9.95%||8.02%|
|Income $150,000 to $199,999||12.20%||11.11%|
|Income $200,000 and Over||32.48%||54.99%|
We will primarily target these three customer segments:
- Local college students: We are strategically located near [University], so we expect a good portion of our clientele will consist of students from the school.
- Young adults: Since most customers who frequent lounges or similar establishments are in their 20s, we expect that much of our clientele will be Gen Z or young millennials.
- Local residents: Approximately 75,000 residents live near the surrounding area and a majority will frequent the establishment.