Swot Analysis - Auto Parts Store
Auto Parts Store Business Plan Analysis
July 18, 2010
Southeast Racing Parts (SRP) is a proposed specialty auto parts retailer focusing on the amateur car racing set. SRP is an imaginative business venture with a positive prospect for growth and expansion. The business plan demonstrates a majority of strengths and opportunities with only a minimum of discernable weaknesses and threats. Most of the potential negatives in this business plan are small, manageable, and can be overcome. After careful analysis, it appears that SRP is a good business risk with the potential for significant success.
One of the most important opportunities for SRP is its proximity to its customers—both physically and idealistically. The husband and wife team who will manage and operate the business are racing enthusiasts with many collective years of racing experience and connections. They understand and relate to the mentality and desires of their customers. Also, the location of their retail location is very appropriate. North Carolina is a hotbed of amateur racing enthusiasts—the sport has increased tremendously in the United States in the past decade, with significant growth in the Southeast. The fact that their store will be located directly across the street from a new go-kart/entertainment complex means that they will have immediate access to a large potential customer base. People will choose to shop at SRP based on convenience.
One potential weakness; however, is based on the fact that they will be relying too much on one single retail location. The owners say they want to keep their business small in order to offer the highest quality customer service. It is certainly possible to operate a larger business and still be committed to the absolute best in customer service. By limiting the size of their business right from the start, they will be reducing the opportunities for successful growth. SRP states via their proposed business plan on the Palo Alto Software website
July 18, 2010
Southeast Racing Parts (SRP) is a proposed specialty auto parts retailer focusing on the amateur car racing set. SRP is an imaginative business venture with a positive prospect for growth and expansion. The business plan demonstrates a majority of strengths and opportunities with only a minimum of discernable weaknesses and threats. Most of the potential negatives in this business plan are small, manageable, and can be overcome. After careful analysis, it appears that SRP is a good business risk with the potential for significant success.
One of the most important opportunities for SRP is its proximity to its customers—both physically and idealistically. The husband and wife team who will manage and operate the business are racing enthusiasts with many collective years of racing experience and connections. They understand and relate to the mentality and desires of their customers. Also, the location of their retail location is very appropriate. North Carolina is a hotbed of amateur racing enthusiasts—the sport has increased tremendously in the United States in the past decade, with significant growth in the Southeast. The fact that their store will be located directly across the street from a new go-kart/entertainment complex means that they will have immediate access to a large potential customer base. People will choose to shop at SRP based on convenience.
One potential weakness; however, is based on the fact that they will be relying too much on one single retail location. The owners say they want to keep their business small in order to offer the highest quality customer service. It is certainly possible to operate a larger business and still be committed to the absolute best in customer service. By limiting the size of their business right from the start, they will be reducing the opportunities for successful growth. SRP states via their proposed business plan on the Palo Alto Software website