For example, if your product is perfect for people with money to hire landscape architects, listing “anyone with a garden” as your target market might not go over so well.
The same is true with your market analysis when you estimate its size and monetary value.
Landscape Inc.’s mission is to change the face of our city through sustainable landscaping and help you create the outdoor living space of your dreams.
Founded in 2019 by sisters Sherry and Shelly Smith, we have over 25 years of combined landscape-architecture experience.
If your business doesn’t have any direct competition, research other companies that provide a similar product or service.
Next, create a table or spreadsheet listing your competitors to include in your plan.
In addition to big numbers that encompass the ; meaning, local numbers or numbers that apply the grand total to your specific segments.
Landscapers Inc.’s ideal customer is a wealthy baby boomer or a member of Gen X between the ages of 35 and 65 with a high disposable income. They’re a working professional or recently retired.
The next step is to outline your ideal customer as well as the actual and potential size of your market.
Target markets—also known as personas—identify demographic information like: If your target market is too broad, it can be a red light for investors.