IV. Customer Analysis
You can download our Vending Machine Business Plan Template (including a full, customizable financial model) to your computer here.
Demographic Profile of Target Market
[Company Name] will serve residents, businesses and schools in the [location] area.
The demographics of the town in which our location resides is as follows:
|Target Population by Age|
|Age 18 to 24||11.87%|
|Age 25 to 34||14.70%|
|Age 35 to 44||12.15%|
|Age 45 to 54||13.54%|
|Age 55 to 64||11.82%|
|Target Population by Income|
|Income $50,000 to $74,999||11.16%|
|Income $75,000 to $99,999||10.91%|
|Income $100,000 to $124,999||9.07%|
|Income $125,000 to $149,999||9.95%|
|Income $150,000 to $199,999||12.20%|
|Income $200,000 andOver||32.48%|
We will primarily target the following customer segments:
- Business establishments: These are businesses that do not have a cafeteria, but have employees that need access to snacks and drinks during the work day.
- Schools: Students are a huge market for the business as kids consistently need snacks and beverages throughout the school day and at after school activities.
- Commuters: Local residents and tourists need access to food, drinks and travel essentials when entering and exiting the city. Having vending machines in transportation terminals and gas stations will be convenient for commuters and travelers alike. The security feature of the vending machines is also helpful in addressing emergency situations in accident and crime-prone areas of the city.