Question

Prepare a basic S.W.O.T analysis for any local gift shop.

Answer 1

Performing SWOT analysis helps recognise the needs for the business. By performing this analysis, business can prosper ahead of its competitors and survive strong. Lets now perform SWOT analysis for a local gift shop as mentioned in the question.

Strengths:

Having access to varied surprising gifts, having the best crafts-person to perform hand made crafts where competitor's don't have access to.

Weakness:

Gift shop must tend to establish in large scale as having low access to bulk purchase increase costs which in turn concludes low margins.

Opportunities:

Having parties, weddings and other occasion's information at your step is an advantage to perform more sales which would help your business to prosper more.

Threats:

Having the best crafts-person will be an advantage to improve more range of gifts without which it'll be a threat to its own prosper and all the business tend to avoid them.