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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