Woodworking Business Plan Template [Updated 2023]

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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 residents of [company location] and its surrounding areas.
The area it will serve is populated mostly by moderate to affluent people; as a result, they have the means to pay for higher quality products.

The precise demographics of the town in which the retail location resides is as follows:

Total population1,644,518778,476866,042
Under 5 years5.20%5.60%4.80%
15 to 19 years4.30%4.20%4.40%
20 to 24 years7.20%7.00%7.30%
25 to 29 years12.10%11.90%12.40%
30 to 34 years10.60%10.90%10.30%
35 to 39 years8.00%8.30%7.60%
40 to 44 years6.70%7.00%6.30%

Customer Segmentation

The Company will primarily target the following customer segments:

  • Individual Buyers: The residents and visitors in the vicinity will patronize the company’s store for wooden decoration pieces and small and large sculptures for their houses as well as for gifts.
  • Businesses: Businesses will look to the company for furniture pieces and office decor. These customers prefer unique, high quality pieces.
  • Restaurants and hotels: Restaurants and Hotels need modern and unique ideas to furnish and decorate their establishments.
  • Production Designers & Art Directors: The Company will work with production designers and art directors to provide items for sets and props.
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