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 tire shops are located within a 20-mile radius of [Company Name], thus providing either direct or indirect competition for customers:
Discount Tire
Established in 1960, Discount Tire has always set out to care for its customers and always do what’s right when it comes to selling tires. The company has thrived due to its focus on ethics as well as its moderate pricing. Nationwide, Discount Tire is seen as one of the best places to find high-quality tires for an affordable price.
Though Discount Tire will continue to thrive, we believe many customers will decide to frequent [Company Name] instead for its connection and dedication to the local community.
Les Schwab
Since 1952, the employees of Les Schwab have been dedicated to service. Customers can always expect a great experience and that they will receive the best quality tires possible. The company provides a good variety of tires to choose from and helps customers with a variety of maintenance and services. In addition to tire services, the company also provides services for batteries, wheels, and brakes.
Though Les Schwab will continue to thrive, the company will be unable to compete with our prices and inventory selection.
Randy’s Tires And Parts
Randy’s has been the small-town tire shop for [Location] since its start in 1990. Randy’s provides a moderate selection of tires, mostly containing popular brands. The company also provides limited services, such as tire installation and inspection. Additionally, the store sells other small parts and tools that vehicle owners may need as well.
Though Randy’s will also offer the locally-owned charm that we incorporate into our brand, the shop is much smaller than ours and can’t compete with the variety of products and services we offer.
Competitive Advantage
[Company Name] enjoys several advantages over its competitors. These advantages include:
- Location: [Company Name]’s location is near the center of town, giving us access to commuters, local office workers, and nearby residents.
- Strong inventory: The inventory offered by [Company Name] is much larger and more diverse than any of our local competitors.
- Management: Our management team has years of business and marketing experience that allows us to market to 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 influencers. As such, it will be relatively easy for [Company Name] to build brand awareness and an initial customer base.
