In: Operations Management
Would do a SWOT analysis to understand my Competiveness
Strength
High Barriers to Entry
Highly Experienced Owner-Operator
Limited competition in the Area
Very high gross margins
Ability to sell product online
Highly visible website
Limited start-up risk.
Opportunities
Continued expansion for online sales
Ability to develop additional stores
Acquisition of additional funds of capital
Affiliate relation with related vendors
Development of proprietary products.
Weaknesses
Competitors can offer similar product quickly
Limited start-up cost
High Transportation cost
Limited flexibility in pricing
Threats
Changes in regulation can impact the business
Products are already in major competitions
Insurance cost are continually increasing
Increases in price inputs can cause upward pricing
Based on the above swot analysis the budget impact would be as follows
To curb competitions price of the food items need to very
competitive
Discounts and membership coupons to be issued to keep the loyal
customer
Free bees and offers will put a pressure on the profits.
Even a renovation of the service approach would require to manage in stiff competition