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Italian Restaurant Business Plan - Market and Industry Analysis Page 4

A further analysis of housing shows just how much of a discrepancy exists between home values in Westchester County, NY versus the nation.  While nationally, a combined approximately 15% of the housing stock is in homes valued at between $60k and 99k, in Westchester those categories only represent roughly 2.5% of the counties housing units. 

The category of between $400k to $499k in Westchester contains 15.9% of its owner occupied housing compared to a national average of 4.53%.  Likewise the category of $500k to $749k nationally has just 4.75% of owner occupied housing whereas in Westchester it accounts for the largest chunk at 22% of the total owner occupied housing stock.

All this of course again means that our target market consists of middle class, upper middle class to wealthy residents who often dine out, spend a lot on retail and have a solid disposable income base which bodes very well for restaurants like A Taste of Tuscany.

4.7  Target Market: Education Profile

With the property taxes comes the higher school expenditure.  While the pupil to teacher ratio for Westchester County is about the same as the national average of 15.9 pupils per teacher, the students per librarian ratio is much better at 540 students per librarian versus 907 for the national average.  Also better is the students per counselor ratio of 455 versus 546 nationally.

Almost 20% of the population has Graduate degrees compared with 7% nationally.  The number for 4 year college graduates is also solid at about 21% versus a national average of approximately 15%.  This is an important element of our target market analysis since our research and experience in the food business has shown that there is a good correlation between the income and education of a consumer and the kind of food they consume.  A Taste of Tuscany is catered to the upwardly mobile consumers of Westchester County and our menus for dining are carefully worded in both Italian and English to market to this clientele.

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