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Sample Market Analysis
Market Analysis for InifiniTea
for Small Business Loan Officer Bank of America Klamath Falls Branch
by Tiffany Goddard
October 20, 2009
Market Analysis for InfiniTea
INTRODUCTION
InfiniTea is a coffee shop aimed at serving high quality café foods at affordable prices. We strive to be not only a shop with excellent product offerings, but also a great atmosphere and environment for our customers. One of our large focuses is to give back to the people in the community through the services we offer. We have summarized information on InfiniTea in the following pages in order to illustrate our goals and desires as a company.
INFINITEA AS A BUSINESS
InfiniTea is a company that has a lot to offer. Here is a brief overview of a few aspects of the company including our three target markets, our products, and our service offerings.
The Target Markets
There are three markets InfiniTea will target.
Students of Oregon Institute of Technology and Klamath Falls Community College
Our shop is a comfortable place for students to get together and study and succeed in their schooling. Students who are interested in learning and getting help with their school work can access free Wi-Fi here in a quiet, relaxing environment.
Artists, Poets, and Musicians
InfiniTea is a great environment for all types of artists. We host live music entertainment on weekends, monthly poetry nights, and opportunities for artists to exhibit their work in our shop. We long to help people succeed.
Local Residents of Klamath Falls
We want to give back to the people of Klamath Falls. We are here to support community events and activities, and in turn they will feel drawn to the environment we have created here at InfiniTea. We will have a poster-board on one of the walls of our shop where people can post fliers for any need they may have, whether it’s a job posting or a lost pet, we are here to help.
Product/Service Offerings
InfiniTea has a diverse selection of product offerings:
We provide a range of services for our customers as well:
THE LOCATION
We chose a location based on ease of access to our target markets: 2609 Campus Drive, Klamath Falls, OR 97601. It is across the street from Oregon Institute of Technology (OIT) and fairly close to Klamath Falls Community College.
THE COMPETITION
The coffee business is very popular; however, we feel that we can stand up to our competitors through the nature of our company, our word-of-mouth advertisement, and our accessible location.
Other Businesses The location of InfiniTea helps tie in with the competition aspect of the business. Klamath Falls is a fairly small town, and there is only one local Starbucks. It is not within walking distance from the schools, so it is likely that students would much rather visit a coffee shop that is much closer. That is why we chose a location directly across the street from OIT.
Even if there were more coffee shop chains around town, many people prefer to support local businesses.
Advertisement
By hosting music and poetry nights, the performers will advertise to their friends about the shows, this removes a majority of the need for us to advertise on our own. In the same way, artists will invite their friends to come to our shop to see their posted work. Soon we will have enough funds to begin giving back to the community by sponsoring local events, activities, and organizations which will help gain the support of the community.
We will also have various promotions throughout the year. An example would be the use of punch cards: buy 10 drinks get the 11th free.
THE ECONOMY
Our economy might not be in the perfect state for instigating new businesses, but we feel certain that if we can acquire the funds to commence InfiniTea, that the community will acknowledge our company and help it to thrive.
Community Finances
In a community with few coffeehouses, we feel confident that our business will prosper. Almost everyone drinks coffee, and InfiniTea is an affordable, nearby shop that has a lot to offer.
Funding
A large part of the start-up funds for InfiniTea are coming from the owners of the company and also from angel investors. Still, we must take out a loan to get our business up and running. BE SPECIFIC: List amount of funds already procured, and name amount requested in the small business loan.
CONCLUSION
InfiniTea aspires to be more than just a coffee shop--we long to come alongside the community of Klamath Falls to help people succeed in what they love to do. We hope that after reading what our business has to offer, you will grant us this loan. Thank you. |