SWOT ANALYSIS

In this post we are going to talk about the general SWOT strategy that could be useful in almost all the restaurants. 

STRENGHTS * Unique recipes * A good staff, specially the chef * A good location * Affordable prices * Good quality * Update decoration and accommodation of the local. *A well structured menu * Make discounts and offers

WEAKNESSES * Not enough money to start the business * Being situated in an unknown area * Being new in the market * Not make enough promotion * Do not obtain all the licenses to open de business * Not qualified staff

OPPORTUNITIES * To have the opportunity of opening another restaurant or bar * Organize weddings or any other event if the restaurant is big. This will help to increase the revenue and the restaurant will be more versatile. * Create different atmospheres inside the local, like for example a Kids area, or a Music Pub at night. * Prepare take awake menus if it is possible * Use the holiday dates to create new menus, and promotions to offer to your customers.

THREATS * Competitors near your restaurant offering almost the same services. For example if your restaurant offers Pizzas, if there is another restaurant near you that also offers Pizza, t would be a direct competitor * New Chains like McDonald's or others that have lower prices. * Some works in the street. It would make that people refuse to passing through these street * Have some problems with the staff, and they decided to do strike. * If suppliers do not deliver the products on time, because of the traffic, strikes… * Increase in the price of the raw materials

So, although this is a general Swot analysis for any kind of Restaurant, we think that is a good strategy to take into account if you are thinking about opening a new restaurant. And as you can see, it is very important to analyse all the different factors, because a bad decision could be very negative to the business. 

Do you think that making a SWOT analysis of your business is a good idea to be succesful in the market?