Free Restaurant Manager Resources
Pub and Bar SWOT Analysis.
SWOT Analysis is not a complicated thing to have to do, yet it is a very worthwhile and useful task to take on if you are to decide the best marketing strategies for your pub or your bar.
If you are going to go to a bank for funding then they will insist that you complete a SWOT Analysis for your pub or your bar concept. What a SWOT Analysis does is show you how your pub or your bar concept is, or will be, placed in the current market, and how well you will be able to compete in that market. It breaks down the good and bad points of your pub or your bar against those of your competitors. 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. 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.
The strong points of your pub or bar - Examples are:
Your pub/bar exterior is clean and tidy.
Your prices are cheaper than your competitors.
Your style is new to the area.
You offer products no other bar offers.
You have a themed entertainment night.
You have a branded image.
You have a good choice of items available on your drinks menu.
You employ well-trained staff.
The weak points of your pub or bar - Examples are:
Your pub/bar is new and not established.
Your pub/bar has poor disabled facilities.
You have limited funds available.
You offer a product which is already available on the market.
You don't advertise your pub/bar.
Customers have to travel further to get to your pub.
Benefits for your pub or bar - Examples are:
A new office complex is opening nearby.
A new housing development is being built nearby.
A main competitor has closed down.
The building next door has become available so expansion may be an option.
Instances that can harm your pub or bar - Examples are:
A high street brand is moving into the area.
Your operating costs are set to increase soon.
Your business lease is up for renewal and a rent increase will happen.
A main competitor has lowered their prices and started a price war with you.
When doing your own pub or bar SWOT Analysis you can add as many points as you want for your restaurant.
Pub SWOT Analysis.
What you should do is complete on of these for your own business, stating each and every relevant example for the main sections of pub SWOT Analysis, in order to get an idea of where your business stands in the current market and how competitive your business actually is.
Don't worry about whether you think something is not important enough to include on your pub SWOT Analysis as often when you compare all the points for each section you will find that when grouped together you can spot certain opportunities or threats and deal with them so much more easily.
The same applies to favouring the positive points over the negative ones to make your pub or bar look better, all you are doing is putting yourself at a disadvantage, you must create a realistic 'look and feel' for where your pub or bar stands in the market otherwise you won't be able to devise a plan to counter the negative points and build on the positive ones.