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Swot Analysis

713 words - 3 pages

Strengths
The business plan for Hair and Beauty salon has a strong financial plan. Graphs are used to illustrate how money will be spent and how much money will be made. Graphs also show from month to month for the first year and yearly for the first three years. The layout of the plan is very simple to understand and is organized nicely. The plan also speaks about what will set this particular salon aside from all of the other salons. This new business is attempting to bring high quality to customers without having to drive up north and spend tons of money. Also, this business of a salon and services that it offers are ones that are highly taken advantage of these days. This new ...view middle of the document...

Location is definitely a plus when it comes to bringing in new customers but if the clientele is already there and the services are producing repeat customers, word of mouth will take care of bringing in more and new clients. Atmosphere is a definite must as well. Clients like nothing more than to receive their services in a nice and appealing atmosphere with exception customer service. Also, customer service experience was not stated in the plan.

Opportunities
The plan did mention training their employees regularly, although it did not mention a plan to increase efficiency to be able to lower costs in the future. It will be important in increasing efficiency and lowering cost as this will help the business stay afloat, especially in this economy. It would have been good to show how the managers will work to lower costs in the future as other salons/companies are currently doing in this economy. There was mention about adding more stylists in the future, one more in the second year to be exact, but no plans for expanding or possibly opening a...

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