25A- What's Next

Existing Market

I believe that my business is primarily target towards boats in marinas, and I believe that this is a good place for my business. I do not think that growth to other forms of mobiles, such as cars or planes would make any sense for my business. As far as growth for my business, I believe that expanding to the maximum number of marinas possible would be the best way for my business to grow within the existing market.

The three people that I interviewed all told me that expanding to new marinas and new clients would be the best way for my business to expand. One person brought up a thought that getting a contract with a boat show would be profitable, as companies showcase dozens of marine vessels and want them to look as clean as possible in order for them to be sold. I agreed with them that this would be a good way to expand my business, although I have doubts that this idea will work because most of the boats that are showcased are brand new and therefore do not need to be cleaned.

In order for my business to experience growth in the existing market, I would need a large client base which can be done by a combination of a large marketing campaign, and word of mouth growth. When one person that I interviewed brought up how I could clean at boat shows, that made me think that this would actually be a good place for me to advertise my business. I think that overall, reaching out to as many marina’s and boatyards as possible would be the best way to expand my business throughout the existing market.

New Market

I don’t really understand how to expand into a new market, because my market is very set in stone and unique to my service. My market is strictly boat owners who keep their boats at marinas. Because this is such a niche market, I do not understand how to expand upon this idea and enter a new market. I interviewed multiple people, and when I told them my business plan, they all had similar responses to what I just said