You offer a product which is already available on the market.Ĭustomers have to travel further to get to your restaurant. Your restaurant is new and not established. The weak points of your restaurant - Examples are: ![]() You offer a product no other business offers. Your prices are cheaper than your competitors. Your business exterior is clean and tidy. The strong points of your restaurant - Examples are: Don't be put off by the technical sounding name, SWOT Analysis is simple and straightforward, let us start by telling you what SWOT stands for: Strengths, Weaknesses, Opportunities and Threats. This gives you an opportunity to amend or strengthen certain operating practices or promotions you may be running to gain an advantage in the marketplace you are trading in. It breaks down the good and bad points of your restaurant or concept against those of your competitors. ![]() What a SWOT Analysis does is show you how your restaurant is, or will be, placed in the current market, and how well you will be able to compete in that market. ![]() If you are going to go to a bank for funding then they will insist that you complete a SWOT Analysis for your restaurant or your restaurant concept. ![]() Tweet SWOT Analysis is not a complicated thing to have to do, yet it is a very worthwhile task to take on if you want to know the best marketing strategies for your restaurant.
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