SWOT Analysis

The SWOT analysis portion of a marketing plan is one of the most important operations of the marketing plan. This analysis identifies a businesses strengths, weaknesses, opportunities, and threats. Throughout a businesses lifespan, they are able to identify new SWOTs. "SWOT analysis considers the proposed establishment’s strengths, weaknesses, opportunities, and threats from the viewpoints of the owners, managers, employees, and customers. " (pg 104)

Las Vegas has a high number of restaurants, with cuisines from around the world. Asian, Thai, Mexican, American, Italian-- one of the most diverse cities in America when it comes to our foods. As we develop our SWOT analysis, we must look at all different cultures established throughout our city.

" To conduct a successful SWOT analysis, owners and managers must be realistic about the strengths and weaknesses of their operations as well as the opportunities and threats they face." (pg 105)

Our strengths include having comfort-style foods in a comfortable area, being a mobile restaurant where patrons are able to grab and go, and having a variety of hot foods during a cold season-- a good combination. " Increasingly, a management team’s knowledge and use of advanced technology can be viewed as a competitive strength and can be listed as such in a SWOT analysis." (pg 106)

We have a few weaknesses that do surround us! Many people come to Las Vegas to have top-quality foods, therefore, they may turn to top-dollar restaurants. Restaurants that have a view of the city are more likely to draw patrons in. Rather than catering to only tourists, we must cater to locals in order to keep business going. 

Opportunities open us as we chose to open our hot foods location up in the winter months. With the most tourists Las Vegas experiences all year, we expect to have more business. Being close to Fremont street, one of Las Vegas' best tourist attractions, we have the advantage of having our restaurant close to the entertainment. 

We are threatened by competitors that can offer a cozy environment for top dollar foods-- which many tourists come to Vegas for.