BUSINESS PLAN MARKET ANALYSIS
Show lenders and investors that you know your market and how your business fits
The market analysis section of your business plan provides industry information, identifies your customers and details your competitors’ strengths and weaknesses.
Demonstrate opportunity in the market
Lenders and investors want to see proof that there is a need for your business. A proper market analysis will include more than just confident declarations. You need statistics that show that there is a market for your business and that it’s large enough to allow you to make a profit. You’ll need to provide information about your industry, a specific description of your target market and some competitive analysis. You’ll also need to identify barriers to entry to show that competing start-ups can’t easily steal your business.
Prove that you understand the market
Provide statistics and facts that support your claim that the market has room for your products and services. Start by searching your topic on the internet. You’ll find resource information that can help you to compile hard facts.
How will you attract customers?
Identify your target market and provide customer personas. Detail their pain points and needs.
Provide competitive analysis
List your competitors and explain how they are performing in the market. Include information about their successes and challenges. Cite local industry trends, news articles and regional statistics. You may need to get creative and apply critical thinking to identify the metrics that matter.
A strong business plan can help you secure financing and seed investment from M&T.
Partner with M&T Bank
M&T’s Business Banking Specialists can help you refine your business plan, including your Market Analysis. Get to know the advantages of being an M&T Business Banking client.
