Strengths
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Weaknesses
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Opportunities
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Threats
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Plan of Action
Strengths
Live Entertainment – Our bar is planning to bring in certain acts that suit the nature of the bar these include; acoustics, bands and open mic night. Our bar will be equipped with live coverage of sporting events from around the world.
Safe Environment – Our bar will be equipped with capable security, including surveillances
Wi-Fi – Our bar will be fitted with Wi-Fi due to high demand of internet for our customers
Events- We will cater to specific target audience with our events. These will include; student nights, Grand finale, World cups, Ladies night etc.
Tappers – Our bar will include food for the patriots to enjoy
Functions – We will cater to functions to earn that extra revenue
Excellent Menu – We will hire professionals to construct a well round menu for all of our customers to enjoy
Reliable Staff- We will put our staff through interviews and different online test as well as call up their reference to gather a sense of what kind of workers they are.
Weakness
Cost of overheads- For rent we will negotiate a suitable long term lease with increases relative to CPI.
Staff turnover – Offer permanent rather than casual, on the job training, Incentives to the staff and free uniforms.
Maintenance – Hire a cleaning facility,
New Unestablished business – As we are first time business owners we will need to do research and come up with back up plans. Networking with other similar business to grasp an idea how things will run. Conduct business risk analysis.
Offering a product that’s already out there- to counter act this we offer an environment that is different to a typical sports bar. We are also looking into offering product ( e.g. alcoholic beverages) from around the world.
Opportunities
To expand- Once established we could invest in opportunities to open other bars in areas which do not facilitate this. Opportunity to expand the business floor space in the area.
Public transport- Train station stop right in the area of the location of our bar.
Location – We all well located in the inner mixed zone, which is adjacent to the CBD.
Tafe located close by – opportunity to acquire these customers as our bar is so close by
Threats
Competitors- A way to conquer our competitors is to check out what they have and their pricing and see if we can beat them.
Lack of parking – Encourage public transport have a shuttle bus from the train station to drop customers off right in front of our bar in peak hours.
Anti- social behaviour- there is always the threat of anti-social behaviour outside the bar on the street, We have to make sure the police are involved and keep this from happening in front of our bar.
Underage drinkers – Preform ID checks at the door as well as have staff do random checks of customers while inside the bar.
Live Entertainment – Our bar is planning to bring in certain acts that suit the nature of the bar these include; acoustics, bands and open mic night. Our bar will be equipped with live coverage of sporting events from around the world.
Safe Environment – Our bar will be equipped with capable security, including surveillances
Wi-Fi – Our bar will be fitted with Wi-Fi due to high demand of internet for our customers
Events- We will cater to specific target audience with our events. These will include; student nights, Grand finale, World cups, Ladies night etc.
Tappers – Our bar will include food for the patriots to enjoy
Functions – We will cater to functions to earn that extra revenue
Excellent Menu – We will hire professionals to construct a well round menu for all of our customers to enjoy
Reliable Staff- We will put our staff through interviews and different online test as well as call up their reference to gather a sense of what kind of workers they are.
Weakness
Cost of overheads- For rent we will negotiate a suitable long term lease with increases relative to CPI.
Staff turnover – Offer permanent rather than casual, on the job training, Incentives to the staff and free uniforms.
Maintenance – Hire a cleaning facility,
New Unestablished business – As we are first time business owners we will need to do research and come up with back up plans. Networking with other similar business to grasp an idea how things will run. Conduct business risk analysis.
Offering a product that’s already out there- to counter act this we offer an environment that is different to a typical sports bar. We are also looking into offering product ( e.g. alcoholic beverages) from around the world.
Opportunities
To expand- Once established we could invest in opportunities to open other bars in areas which do not facilitate this. Opportunity to expand the business floor space in the area.
Public transport- Train station stop right in the area of the location of our bar.
Location – We all well located in the inner mixed zone, which is adjacent to the CBD.
Tafe located close by – opportunity to acquire these customers as our bar is so close by
Threats
Competitors- A way to conquer our competitors is to check out what they have and their pricing and see if we can beat them.
Lack of parking – Encourage public transport have a shuttle bus from the train station to drop customers off right in front of our bar in peak hours.
Anti- social behaviour- there is always the threat of anti-social behaviour outside the bar on the street, We have to make sure the police are involved and keep this from happening in front of our bar.
Underage drinkers – Preform ID checks at the door as well as have staff do random checks of customers while inside the bar.