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Swot Analysis Bus210
SWOT Analysis I selected the business plan for a wedding consultant business, TLC Wedding Consultants. Utilizing the SWOT method for analysis, I reviewed and analyzed the business plan for strengths, weaknesses, opportunities, and threats. Strengths and weaknesses analyze internal factors of the business. Opportunities and threats analyze external factors of the business. TLC Wedding Consultant’s business plan was well organized and clearly shows the business can be viable and strong. The leaders of this venture are experienced and creative. They have planned over 150 weddings and receptions together. Both owners are college graduates and received certification from the National Association of Wedding Consulting and Professional Wedding Planning. The business model for TLC Wedding Consultants is well developed. The owners will provide a full range of services in the wedding consulting arena. TLC will offer their clients assistance with wedding planning, honeymoon planning, receptions, anniversary consultations, budget planning, etiquette consultation, and referrals to various ancillary services such as entertainment, florists, and hair stylists. Each year over $35 billion is spent on weddings. The plan outlined that TLC has clearly identified their target market segment. TLC will primarily market their services to brides, grooms, and their family members. In addition to brides and grooms, TLC’s client segment will include guests attending the weddings and anniversary events. The business plan clearly defines the keys to success. The business will operate from Eugene, Oregon where over fifteen hundred weddings are registered each year. This represents a sizeable market for the business. Currently in Eugene twenty companies offer similar but limited wedding planning services. Of those twenty companies only three offer services that are comparable to TLC. TLC will differentiate themselves from their competitors by providing a full range of
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