When an entrepreneur has an idea for a new product and wants to go from idea to profit from the product, there is a long process involved and creating a business plan is the best first step to take. Once the business plan has been compiled, a SWOT analysis can be used to determine how well the plan will work and the company will succeed. A SWOT analysis is a way of breaking down a company’s strengths, weaknesses, opportunities, and threats. It considers both the external and internal environments of the business plan and company. There are many benefits in conducting a SWOT analysis because it is a way to provide a low-cost, ...view middle of the document...
There were many strengths in the business plan for Zara Restaurant and Lounge. The first strength would be the experienced leaders that are the founders who plan to manage and run the restaurant themselves. Their names are Zander Hunte and Peter Smith and they have been working together for many years in the restaurant industry. Mr. Hunte is certified in Restaurant and Hotel management and has a background in International Business management and Mr. Smith is an accomplished restaurateur who has owned several full-service restaurants including two, currently. These owners have compiled a great business model that will work to cater to the needs of a wide range of customers by offering different size portions on a large variety of menu items at reasonable prices. Some of the other advantages that can will be helpful for Zara’s include the owners’ thorough understandings of opening and running a restaurant and the international menu that will be featured and change every four months.
There were many strengths that I found in their business plan and very few weaknesses. Some of the weaknesses that the business may encounter could be one that they are not a family friendly environment which would turn off some customers in the area with children. Another weakness may be the fact that the company wishes to keep the food costs at...