The mathematics are simple sums of the rows and

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Unformatted text preview: are in. For example, a building supply store might note the trend toward remodeling older homes instead of buying new homes, or a trend toward more rooms in larger houses, despite smaller families, because of home offices, dens, and exercise rooms. A grocery store might note a trend toward Asian foods or spicier foods, or toward fresher, healthier foods, or development of a new shopping area in a different part of town. A credit and investment counselor might note demographic trends, such as baby boomers aging, leading to a greater need for estate planning and retirement planning. Look to market trends as a way to get ahead of the market, to know where it is going before it gets there. You should also understand and explain market growth in each segment. Ideally you cite experts: a market expert, market research firm, trade association, or credible journalist. Section Overview Your market section should begin with an overview describing the different groups of target customers in your market analysis and why you are selecting these as targets. You may also want to summarize market growth, citing highlights of some growth projections. This paragraph might be included in a loan application or summary memo, so you need it to highlight the rest of the section. Select information as though you had only one brief topic to include about your market. Write the highlights into this topic after you have finished the rest of the section. Summary Projecting market growth is particularly important when your plan is related to finding investors or supporting a loan application, because market growth enhances the implied value of your business. Cite growth rates in terms that fit the available information, whether growth in the number of potential customers, projected dollar sales, meals served, website projects, tax reporting hours, yards to landscape, or whatever you have. Whenever you can, relate the growth rates cited in expert forecasts to the growth in potential customers that yo...
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