Last Updated 13 Jul 2020

Cafe Friends Time SWOT analysis

Essay type Analysis
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SWOT analysis "Cafe Friends Time"

Background

The present report shows the results of matching points according to SOOT analysis (appendix A), and possible strategies that might be accepted for the business development. According to matching (Appendix B), the strongest sides of the strategic planning were defined and thoroughly researched. The main goal of every company implies getting of financial income, which may be used in different ways by its owners. As usual, future increasing of income involves investment and competent distribution of financial resources.

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The other main goal of the company is its expansion, which may be internal (expansion of services) and/or external (territory expansion). In the present case, internal expansion of the cafe© means the introduction of services, which may attract more visitors. External expansion is an opening of one more cafe© or the chain of them. For successful business development, it is necessary to follow two main strategies: financial and marketing planning.

Financial planning

The financial planning includes the smaller set of measures compared to marketing planning but its importance is extremely high.

There is no insurance from inerrancy, and losing all the business and money can happen to every person. The first step to be taken is the long-term financial planning with the help of financial analyst who can make the plan of financial distribution taking into consideration the state tax policy, financial profitability, or other data. As it was said above, there is no legal insurance from bankruptcy or there are a high number of factors that can lead to losing everything.

It is quite possible to protect the business with the help of different insurance programs. It will not help in avoiding any risks, but in some cases t can keep the business in safe. Marketing planning The marketing is an integral part of every prosperous business. The smart marketing planning can make your business profitable nearly twice faster on the average. With the help of experts, the marketing process is more effective than making it on its own. However, there is a huge range of sets that can be undertaken by every cafe© owner.

Competitive level of the cafe© First of all, it is very necessary to establish the high level of service of the cafe© and put it on a competitive level. The cafe© needs to have its own philosophy, atmosphere, ND shtick.

For example, the cafe© can become famous for holding literary evenings, for making silence days (when it is forbidden to talk), for making free of gadgets hours etc. High quality of service, delicious and qualitative food, compliance with health and safety standards are also above all things.

IT development Development, implementation, and promotion of the web-site are an essential part of the marketing strategy. On the one hand, it is the additional source of advertising for the company, and comfortable source of information for visitors. On the other hand, he possibility of on-line orders can be added to the list of the web-site options because it is a part of the present everyday life to make an on-line order and arrange SWOT analysis By causes quite cheap source of advertising, and it is one more means of being closer to the visitors.

Extra activities Doing extra activities is not obligatory for successful work of the cafe©; however, it could become the additional shtick of it. If the cafe© is specialized in making unique coffee blends and cooking tasty desserts, why do not use these items in other way? It would be nice to publish a book of author recipes, and then sell in the cafe©. Or what about making master-classes in baking or making coffee which can hold in and out the cafe©?

Conclusions

Development of every business involves much power and money. To avoid a waste of material and physical resources, it is better to use strategy planning. In this case, it is necessary to pay much attention to financial and marketing planning. The first one is for making money work for the owner - it will help in correct distribution of financial resources, and avoiding maximum risks. The main purpose of the second one is advertising, which is a perfect way of convincing people

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Cite this page

Cafe Friends Time SWOT analysis. (2018, Aug 21). Retrieved from https://phdessay.com/cafe-friends-time-swot-analysis/

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