V. Competitive Analysis
This Section's Contents
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Direct & Indirect Competitors
The following businesses are located within a 20-mile radius of [Company Name], thus providing either direct or indirect competition for customers:
The Event Pros
Since the 1980s, The Event Pros has been the nationwide go-to store for all party rental supplies and products. The Event Pros offers a variety of party gear and supplies to rent, including tents, catering supplies, furniture, and inflatables. Customers can find everything they need on The Event Pros website and receive the supplies in time for their scheduled event. Since they have a nationwide presence, we expect The Event Pros to be our biggest competitor in this market.
Party Rentals USA
Party Rentals USA has been a supplier of all things event-related for three decades. When customers want to plan the perfect party or event, they can find everything they need at Party Rentals USA. The company rents out a wide selection of supplies and decor to create the perfect atmosphere for any birthday, reunion, or other celebration.
Though Party Rentals USA will continue to thrive, the company specifically caters to a middle-class market. They focus on family gatherings and do not typically supply corporate or fancier events. As such, we expect that they will only be a minor competitor for our customer base.
Rick’s Party Rentals
Rick’s Party Rentals has been the most popular local establishment to rent out gear and supplies for parties and special events since its humble beginnings in 2005. With a focus on long-term relationships and customer satisfaction, Rick’s has established a loyal customer base that depends on the establishment for every event they plan. At Rick’s, customers can rent anything they need for their party, including furniture, decor, and activities. With such a loyal customer base, we expect Rick’s to be a difficult competitor for our target market.
Competitive Advantage
[Company Name] enjoys several advantages over its competitors. These advantages include:
- Location: [Company Name] is located in the downtown area, providing the company with the best access to corporate centers, schools, offices, and high-end residences. This makes our store easy to access for customers who want to choose their rentals in person.
- Management: [Company Name]’s management team has years of business and marketing experience in addition to experience running a party rental store. This allows the company to market to and serve customers in a much more sophisticated manner than competitors.
- Customer service: [Company Name] exhibits a strong dedication to perfect customer service. All customers will experience friendly and knowledgeable professionals at every step of the rental process.
- Relationships: Having lived in the community for several 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 the brand and awareness of the venue.
