Home Plumbing Contractor Free Plumbing and Heating Contractor Business Plan 4.8 Target Market Age Demographics Analysis
When we look at the demographic analysis of the target market of Mecklenburg County and the state of North Carolina, we find that folks who are under 18 years of age are 19% of the total population in Mecklenburg County as compared to 17% statewide. Likewise when we examine the number of folks above the age of 65, we find that the County has 11% of its population falling into this category compared to 14% statewide. The number of people between 18 and 65 for both the County and the State are roughly about the same.
This clearly demonstrates that on balance, the target market of Mecklenburg County has a relatively younger population with fewer retirees than the State of North Carolina. This is significant for the future of a small business like Central Plumbing and Heating. The ability of a target market to maintain its purchasing power and income depends very heavily on its age demographics - more younger people indicates that as these young folks grow, get jobs and start the process of forming households, they will probably need the services of plumbers like Felix and Michael.
Thus having a younger age demographic is a net positive for the target market and for Central Plumbing and Heating.
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