Professional Documents
Culture Documents
Management Demographics
Management Demographics
Management Demographics
Analysis
By: Kelly Struck, Samantha Schwab, Kristen Watts, Reyniel
Afuang , Alexia Ciarfella
The target market for our restaurant includes people who appreciate and are interested in
technology (young educated individuals/ individuals who work in the surrounding businesses of
Twitter and Google offices and are of high class). Figure 1 indicates a demographic for our
restaurant. The median age in Chelsea, New York is 37 years old which matches our intent to
reach a young technology- obsessed crowd. Also it is important to indicate that the population of
Chelsea, New York is very large at 72,372 giving us a huge client base. There are many more
white collar workers than blue collar workers which correlates with our want to reach higher
income individuals and families. Figure 2 displays this fact. Also, since we are open late and are
wanting a young crowd, Figure 3 is helpful to our intent to be a late night restaurant/bar and have
a part in the nightlife scene in Chelsea. It indicates that Chelsea has more non-family households
than family households (meaning a lot of single individuals in Chelsea, New York). The average
household is less than 2 people (Figure 3) and the majority of people in Chelsea are not married
(Figure 5).
The statistics on degree holders in Chelsea, New York are also promising. Figure 4
illustrates that the people of Chelsea, New York are well educated people. Most individuals in
Chelsea have either a bachelor or master’s degree (Figure 4). The median income of the people
of Chelsea, New York is $94,586 for the ages of 25-44 (Figure 6). Furthermore, the average
household income in Chelsea, New York is $148,710 (Figure 7). Finally, the people of Chelsea,
New York spend more money on a variety of different areas of life including food,
entertainment, gifts, healthcare, education and more (Figure 8). These facts combined allude to a
market of people who generally have a higher income, have access to, and appreciate
technology. A lot of these individuals could be majors in technology or engineering fields that
Museum of Art, New York Live Arts, and the Atlantic Theater which means we have another
source of our consumers on the weekends and at night. This being said, there is a large weekend
scene in this area when the hotels and restaurants fill up with tourists and locals who attend
brunch and then go to galleries or open markets. Chelsea is home to Penn Station and it is
estimated that about 650,000 people go through Penn Station every day. This contributes to our
customer base. Subway stations are also available on almost every corner that contributes to easy
transportation to our restaurant. There is also a parking lot one avenue away from our restaurant
In addition, the area has a number of hotels for tourists and locals. Located a short
distance from BARCODE is the Chelsea Hotel, Gansevoort, Hotel Pennsylvania, and Courtyard
by Marriott. This is not including the number of hotels just outside of Chelsea which broadens
our customer base even more. Hotel Pennsylvania has 1,700 rooms, Cambria Hotel & Suites has
135 rooms, Chelsea Savoy Hotel 89 rooms, Chelsea Hotel has 250 rooms, The Gansevoort has
249 rooms, the Highline Hotel has 60 rooms, and the Courtyard by Marriott has 260 rooms.
There are also a number of attractions bringing potential customers to the area including Chelsea
Piers Sports and Entertainment Complex, the High Line, David Zwirner Gallery, Museum at
FIT, the Manhattan Mall, an AMC Loews to name a few. The area is also home to FIT, where
9,571 students attend. Companies in this district include Google, Twitter, Facebook, Airbnb,
Looking at our competition, our three main competitors are TAO Downtown, Cafeteria,
and Sugar Factory. TAO Downtown boasts a menu of pan-asian cuisine and also a nightlife
lifestyle. They are a competitor due to offering a food style that is not offered on our menus,
making it an alternative to our restaurant. It also one of the few restaurants nearby that is also
The restaurant Cafeteria is open 24/7 and their target demographic are late night crowds,
specifically post-clubbing people. This is in competition with our goal of being a late night hot
spot. Our late night menus only include appetizers, while their menu is extensive. They also
serve alcohol. Sugar factory is one of our biggest competitors because they offer dessert, and
dessert alcoholic hybrid beverage options which is the main theme of our restaurant. They also
incorporate an interior that is classy and modern and has a minimalistic dessert theme. The
following pages condense our demographic research into charts and tables describing the
population of Chelsea, New York. Also included is a chart describing more of the competitors in
the area.
Figure 1
Figure 2
Source: https://www.point2homes.com/US/Neighborhood/NY/New-York-
City/Manhattan/Chelsea-Demographics.html
Figure 3
Source: https://www.point2homes.com/US/Neighborhood/NY/New-York-
City/Manhattan/Chelsea-Demographics.html
Figure 4
Source: https://www.point2homes.com/US/Neighborhood/NY/New-York-
City/Manhattan/Chelsea-Demographics.html
Figure 5
Figure 6
Source: https://www.point2homes.com/US/Neighborhood/NY/New-York-
City/Manhattan/Chelsea-Demographics.html
Figure 7
$148,71
Average Household Income
0
Median Household Income $83,239
Percent Increase/Decrease in Income Since 2000 58%
Percent Increase/Decrease in Income Since 2010 8%
$1,130,
Average Household Net Worth
233
$1,225,
Median Home Sale Price
657
Sales Tax Rate 8.875%
Average Household Total Expenditure $93,975
Source: https://www.point2homes.com/US/Neighborhood/NY/New-York-
City/Manhattan/Chelsea-Demographics.html
Figure 8
Consumer spending in Chelsea
National Average
Below Average Above Average
Source: https://www.point2homes.com/US/Neighborhood/NY/New-York-
City/Manhattan/Chelsea-Demographics.html
Source: http://www.city-data.com/neighborhood/Chelsea-New-York-NY.html
This shows that most people in Chelsea, New York work a 9-5 job which matches our business
hours. Being near the businesses of Google and Twitter (Buzzfeed also being nearby), we want
these people to come into our restaurant and our hours allow these individuals to come after they
are done with work.
Source: http://www.city-data.com/neighborhood/Chelsea-New-York-NY.html
This graph helps us see that a lot of people use public transportation and modes other than
driving to get to our restaurant. It helps that there are subway stations right near our restaurant
and that people will already be in the area for both work and pleasure activites (theater etc.)
Source: http://www.city-data.com/neighborhood/Chelsea-New-York-NY.html
Percentage of females in computer and mathematical occupations: Here: 2.0% City: 1.3%
Individuals in computer and mathematical occupations would likely be interested in the premise
of our restaurant and are therefore part of our target market. It is helpful to us that these
percentages of people are higher than in the rest of the city further reiterating our choice for
location.
Source: http://www.city-data.com/neighborhood/Chelsea-New-York-NY.html
COMPETITORS:
Website:
https://taodowntown.com/
Sugar Factory American Brasserie - Located at 835 Washington St, New York, NY 10014
Website:
https://sugarfactory.com/location/nyc-meatpacking-district/
Key features and other competitors are shown in the following table:
The Grey Dog Comfort $2.34 to $15.95 242 W 16th St, 7:30PM-10PM Cafe, bar,
food Liquor is at New York, NY Daily happy
market value 10011 hour
Saturday
1-11:30PM
Sunday
1-9:30PM
Saturday
10AM-2AM
Sunday
10AM-12AM