IV. Customer Analysis
4.1 Target Market
The Company will develop both standard and customized software for multiple businesses according to their needs and demands. [Company Name] will primarily serve small to medium-sized businesses, from new ventures to well-established businesses and individual clients. The clients are further categorized into the following categories:
• Financial service providers–There are 982,800 finance and insurance businesses in the US as of 2021, an increase of 0.6% from 2020.
• Construction companies–TThere are 3,664,818 construction businesses in the US as of 2021, an increase of 3% from 2020.
• Manufacturing companies– In 2021, there will be 636,079 manufacturing businesses in the US. The number of businesses in the manufacturing industry in the US has grown 1.2% per year on average over the five years between 2016 – 2021.
• Restaurants– There are 143,350 single-location full-service restaurant businesses in the US as of 2021, an increase of 0.7% from 2020.
• Retail Establishments– There are 2,750,438 retail trade businesses in the US as of 2021, an increase of 0.7% from 2020.
• Other Businesses that may need ERP Software–The Company will target schools, businesses, and other small firms that may need ERP software solutions.
4.2 TAM, SAM, and SOM
TAM $xx trillion
The global market for ERP software to reach a market size after 5 years.
SAM $xx billion
[Target Location Market]’s ERP software market size after 5 years.
SOM $xx billion
[Company Name] would be able to capture a respectable share of the SaaS market by the end of year 5.
