The Spot will focus on college-age women who are looking for a high energy, fun nightclub environment to socialize and dance. Of course, we are also focused on college-age men but it has been our observation that the club scene is driven by where women choose to spend their money when they go out with friends. At present, none of the local bars create an environment that is responsive to the entertainment demands of this core customer group. This also extends to the areas surrounding the university that we expect will attract new customers to the Spot.
Our target market segmentation is divided between college-age women and men in and around the State University.
| Market Analysis | |||||||
| Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | |||
| Potential Customers | Growth | CAGR | |||||
| College-age Women | 15% | 22,000 | 25,300 | 29,095 | 33,459 | 38,478 | 15.00% |
| College-age Men | 10% | 20,000 | 22,000 | 24,200 | 26,620 | 29,282 | 10.00% |
| Other | 0% | 0 | 0 | 0 | 0 | 0 | 0.00% |
| Total | 12.70% | 42,000 | 47,300 | 53,295 | 60,079 | 67,760 | 12.70% |