Swot Analysis Of A Business Plan

Take Five Sports Bar and Grill is a popular sports bar located in Anytown. Joseph A. Smith, the principal owner, would like to expand his current foothold of Take Five Sports Bar and Grill to several places within or near Anytown. Take Five Sports Bar and Grill has been open since 1995, catering to the market with cutting edge technology, good food, and creative tie-ins with various sports teams, celebrities, and radio hosts. While Mr. Smith has been successful with his current venture, Mr. Smith should still analyze his strengths, weaknesses, opportunities, and weaknesses before he chooses to open up further stores. The following is a SWOT analysis of his current and future businesses.

Any business will only be good as its current leader. Mr. Joseph Smith has shown himself to be a tremendous leader. Not only was he able to turn a profit on a restaurant his first year, but he is well educated as he has a MBA from Anytown University. He shows his business knowledge by picking locations around Anytown that have high traffic but do not have competition from other sports bars. When he expands he his marketing his product to a diverse demographic, instead of choosing to market to the sports enthusiast, he is also marketing towards late night crowds, business entertainment, travelers, and the most important demographic, families. Mr. Smith does this by providing a fun, welcoming atmosphere by having large screen televisions, cutting edge electronics, and audio equipment. In addition to all of technology, Mr. Smith also employs the best service and culinary personnel available.

While Mr. Joseph Smith has the ideal education, ideal real estate, and ideal demographic, his business plan does have some weaknesses that would benefit from some extra attention. Some may applaud Mr. Joseph Smith for having such an aggressive goal of opening five stores in under a year, some may say that this goal to too aggressive. Take Five Sports Bar and Grill has only been open for 10 months (as of this business plan dated 1996). In business years, this business is still an infant. On the Sales Strategy section (4.2), Mr. Smith states that a store must hit a goal of $4.2 million dollars to become mature. Mr. Smith’s flagship store has fallen short of this goal by obtaining only $634,900 in sales during the first 10 months of service.