SWOT Analysis
Through the tool of the SWOT Analysis we have identified the potential positive and negative elements that may affect our business. It is then through acknowledging these elements to which we can develop techniques of how to combat our weaknesses and capitalize on our strengths.
Strengths
Incorporation of the Pilates/ Yoga and physical therapy into one business
Creating unique classes by utilizing the low impact nature of yoga and Pilates
The nature of our classes will also work well with a range of demographics such as the elderly or mothers
Broad demographic to market to
Ability to buy and distribute a range of products such as equipment, clothing and beverages
Expenditures will be low due to two main points, low expenditure on wages due to small number of employees and low overhead expenditures
Potential to expand in two ways, by moving our business to new stores around Perth and/or incorporating new elements such as dietary planning and childcare
Creating unique classes by utilizing the low impact nature of yoga and Pilates
The nature of our classes will also work well with a range of demographics such as the elderly or mothers
Broad demographic to market to
Ability to buy and distribute a range of products such as equipment, clothing and beverages
Expenditures will be low due to two main points, low expenditure on wages due to small number of employees and low overhead expenditures
Potential to expand in two ways, by moving our business to new stores around Perth and/or incorporating new elements such as dietary planning and childcare
Opportunities
Developed in a new area meaning we have the market of those intrigued by opening by the new establishment
Highest north of all Pilates centres meaning we have more suburbs to advertise to
Opportunities to cross advertise amongst other businesses
Even with such strengths and opportunities, it is important to acknowledge the weakness and threats within our business in order to overcome them.
Highest north of all Pilates centres meaning we have more suburbs to advertise to
Opportunities to cross advertise amongst other businesses
Even with such strengths and opportunities, it is important to acknowledge the weakness and threats within our business in order to overcome them.
Weaknesses
As a start-up business, lack of reputation can be a major aspect in determining our success
Customer satisfaction is the best way to combat this, as we will be aiming for the highest standard of service
We will also utilize the use of surveys to ensure our customer are receiving the quality of service that we aim for as well as understand the customer’s perception of our business
Customer satisfaction is the best way to combat this, as we will be aiming for the highest standard of service
We will also utilize the use of surveys to ensure our customer are receiving the quality of service that we aim for as well as understand the customer’s perception of our business
Threats
Competition in surrounding areas
By locating in a newly developed area with no immediate competition, we become a closer alternative for those who travel far
The location is also central to a range of suburbs such as Beaumaris, Illuka, Connolly, Ocean Reef and Joondalup, allowing us to advertise to a variety of demographics
Our dual services also combat competition as it broadens our demographic and has a stronger appeal than businesses providing the standard yoga, pilates or physical therapy services
Threat of people using at home methods such as dvd’s and Youtube.
We believe we can combat this through the use of advertising, showing the social aspect of this exercise
By locating in a newly developed area with no immediate competition, we become a closer alternative for those who travel far
The location is also central to a range of suburbs such as Beaumaris, Illuka, Connolly, Ocean Reef and Joondalup, allowing us to advertise to a variety of demographics
Our dual services also combat competition as it broadens our demographic and has a stronger appeal than businesses providing the standard yoga, pilates or physical therapy services
Threat of people using at home methods such as dvd’s and Youtube.
We believe we can combat this through the use of advertising, showing the social aspect of this exercise
