IV. Customer Analysis
This Section's Contents
You can download our Transitional Housing Business Plan Template (including a full, customizable financial model) to your computer here.
Demographic Profile of Target Market
[Company Name] will serve the residents of [company location].
The area we serve is economically diverse and has a significant population of low-wage workers who would benefit from transitional housing services.
The precise demographics of the town in which our business is based are as follows:
| Wilmette | Winnetka | |
|---|---|---|
| Total Population | 26,097 | 10,725 |
| Square Miles | 6.89 | 3.96 |
| Population Density | 3,789.20 | 2,710.80 |
| Population Male | 48.04% | 48.84% |
| Population Female | 51.96% | 51.16% |
| Target Population by Age Group | ||
| Age 18-24 | 3.68% | 3.52% |
| Age 25-34 | 5.22% | 4.50% |
| Age 35-44 | 13.80% | 13.91% |
| Age 45-54 | 18.09% | 18.22% |
| 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% |
Customer Segmentation
The Company will primarily target the following four customer segments:
- Low-income individuals and families: Low-income individuals account for about one-third of the market for transitional housing services. Most transitional housing assistance programs are only available to applicants that have incomes substantially lower than the median income of the local area.
- Homeless individuals and families: Most homeless are only temporarily homeless, and soon find housing and a way to stabilize their income. The most common reason for an individual or a family to experience an episode of homelessness is loss of income and inability to pay for housing, and thus the size of demand is dictated largely by unemployment and poverty rates.
- Landlords: Owners of apartment buildings, multi-unit homes, condominium complexes, and small homes are included in this group when they seek to rent out a portion or all of their space. This group includes both professional landlords who earn their primary income from residential rentals and landlords who are capitalizing on excess space to earn extra money. Landlords value a transitional housing agency that finds tenants quickly and efficiently.
