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Business Plan Project_Interior Design
Pages 5 (1255 words)
Niche Interiors-Business Plan Student’s Name Institutional Affiliation Niche Interiors-Business Plan Marketing Analysis The Interior Design Industry The interior design industry has witnessed tremendous growth over the last decades. This is particularly so in Canada, where the industry has grown tremendously in the past few years.
Instead, a house should look as charming as possible. This is achievable by seeking the services of interior designers. Service Canada (2013) report indicates that, last year alone, residential interior designers based in the greater Ontario region generated about $5 million in sales. According to the report, Oakville generated 80% of all the sales generated in the greater Ontario region last year. Economists predict a possibility of the residential interior design market in the greater Ontario region registering at least 10% increase in sale revenue. The increase is attributable to the strengthening of Canada’s economy coupled with the increase in the number of homeowners in the greater Ontario region. Niche Interiors intends to capitalize on this projected increase in demand for the services of interior designers. The firm also positions itself to take advantage of the changes in the interior design market, and expects to become a household brand in Ontario and the country at large. In addition, the firm also aims to capitalize on every little opportunity to become a profitable entity in the interior design industry in Ontario and its environs. Market Trend The market for interior design is huge and continues to grow. Canada’s interior design market is estimated to worth over $7 billion annually (Service Canada, 2013). ...
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