Help your readers understand the target market(s) for your co-operative business or organisation.
What is 'the market'?
- The market is the group of consumers that may be interested in your products or services (or other outputs e.g. social and environmental). It may consist of a number of smaller groups, or segments, that you need to address separately.
- The success of your co-operative business depends upon the ability of the market to support it, so it is vital that you understand your market.
Your co-operative business will have one or more of the following markets:
- Target customers and/or service users of your co-operative. These may be individuals or businesses.
- Existing funders, and/or potential funders who you plan to apply for money to recruit and serve beneficiaries.
- Members - Who are your members and what is their proposed relationship to the co-operative?
Refer back to understanding your market section of your feasibility study. As part of your feasibility study you should already have completed a market analysis.
If you didn’t manage to do this, you must do so now by visiting the above link.
Define your market
Use the content from your feasibility study to populate the Market section of your business plan, using this template:
Make sure to:
- Identify and describe your prospective customers in the following categories.
- Outline which of those categories and customers will you be relying on to support your co-operative?
- Outline how you know that those markets are big and capable enough to support your co-operative
- Outline how you will you go about engaging with those customers?
The information and tools in this section have been developed by our colleagues at Co-operative Assistance Network.Updated: 26/03/2019