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SWOT Analysis.

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Introduction

Snooker Loopy SWOT Analysis SWOT Analysis is an effective method of identifying your Strengths and Weaknesses, and to examine the Opportunities and Threats you face. Often the analysis of a SWOT framework can be enough to reveal changes that can be usefully made. Strengths and Weaknesses are what is happening with the business at the moment in time and are internal to the business so can be created and resolved within the business itself. Opportunities and Threats are future aspects about the business and what could happen depending on what actions are taken. They are external so these are created outside the business so is out of their control. The purpose of a SWOT is to establish where the business is at the moment in time. It gives the business to opportunity to work on certain areas that are not so good in the business, which need improving and enhancing. It gives the business to adapt their strengths to their advantage, work on their weaknesses to make the business stronger, expand their opportunities and to avoid threats so that the business will not suffer from events beyond their control. The problems with using a SWOT analysis are that they are very subjective, as the SWOT analysis is not independent and will probably be inaccurate. ...read more.

Middle

* Not a high amount of capital to invest in opportunities that may arise. Threats * Possible new businesses opening in the area. * Other competition lowering prices. * Money problems due to lack of sales. Strengths My business is situated in a very highly populated area of surrey, therefore I have many potential customers. This will help because I have a lot of people to appeal to when I decide to do further advertising. If the advertising is successful them the business will get a lot more customers that if I was situated in a low populated area, then I would get a lot worse reaction and would not have as many customers. The questionnaire I sent out was quite successful. The customers would like to see a snooker shop in the area, as there is not one for quite some distance. Being little competition in the area means that if people want any snooker equipment they will come to me as I have low prices and close to the customers. I also have a large range of products so the customers will have no problem knowing if the shop has what they want, they will just come and assume we have it among the vast selection we have. Weaknesses As the business is new the staff have little experience working with customers so for the first few weeks the ...read more.

Conclusion

The customer service part of that will be solved by experience in the shop. Another threat is possible other businesses opening in the area. By the time this has happened we hope to have kept the customers interest in our shop and have made them want to stay with us. If the business has little sales, then we may have to take out a small loan to pay of debts or may even have to close the shop down. There is no way of really solving this problem other than try our best to get the customers interested in snooker and wanted to come to our shop to play snooker and buy our products. I think by have acted on my SWOT analysis I will benefit a great deal in my first year of opening. My staff will be excellently trained throughout the year in hygiene and safety. I think that the customers will be extremely interested in snooker and in my shop from using the SWOT from advertising. I will have learned from the SWOT in the following year and will have made any possible opportunities or threats into my advantage. My strengths will have made the business a lot better and the weaknesses would have been solved through a lot of work and staff co-operation. The customers will have been happy at the end of the year and will keep coming due to acting on my SWOT. ...read more.

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