What Market Analysis Information Should Your Business Plan Include?

The market analysis section of your business plan should include the following information:

• Your customers' demographic characteristics, including age group, gender, income, education, and interests
• The average expenditure per customer
• If you’re planning to open a retail location, the amount of foot traffic on your proposed location's street (a commercial real estate broker should be able to provide you with this information)
• Your market's estimated size, including how many customers there are, how many dollars they spend in your market sector, and how fast the market has been growing, and will grow, in the future
• The percent (both in dollars and people) of that market you anticipate being able to capture
• The rate that you anticipate your market share will grow over time

For additional help, call the ad sales reps for magazines in your industry and ask them if they have market surveys they can send you.