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HAL’S WOODWORKING SWOT ANALYSIS Table of Contents SWOT Diagram…, …………………………………………………, ,. several Introduction……………. ………………………………………………, 4 Strengths, ……………………………………………………………….

. 4 Weaknesses………………………………………………………………. 5 Opportunities…………………………………………………………….. 5 Threats…. ………………………………………………………………, a few Conclusions and Recommendations.. ……………………………………6 References….. ……………………………………………………………7 |  | Strengths|  | |  |  | Weaknesses|  | | | | |  | |  | | | |  | •| Family owned business|  | | •| Local presence| |  | •| Neighborhood presence|  | | •| Limited Net website|  | •| Support oriented traditions.  | | •| Tiny online selection|  | •| Established tradition|  | | •| Not any internet business knowledge| •| Has established customer base. | | •| Limited staff | |  | •| Management is usually committed to organization. | | •| Limited budget| |  | •| Qualified and knowledgeable staff| | •| Don’t have reveal plan yet. |  | | | |  | | •| We would become a small player. |  |  | | | |  | |  | | | |  | | | | |  | |  | | | |  | | | | |  | |  | | | |  | | | | |  | |  | | | |  | | | | SWOT SWOT |  | |  | | | |  | | | | |  | |  | | | |  | |  |  |  |  | |  |  |  |  |  | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |  | Opportunities|  | |  |  | Threats|  | | | | |  | |  | | | |  | •| Increased internet exposure|  | | •| Increased competition from packet and| •| Increased sales| |  | |  | mortar stores like Home Depot. | •| Larger customer base|  | | •| Elevated competition via online| •| Profit margins will be good. |  | |  | retailers such as Amazon online marketplace. |  | •| Can seek better supplier discounts. | | •| Competition can easily enter in market. | •| Possibility to expand|  | | •| Vulnerable to reactive attacks by major|  | | | |  | |  | competitors. | |  | | | | |  | | •| Cost competition| |  | | | |  | | •| Risk of losing family owned reputation|  | | | |  | |  | | | |  | | | | |  | |  | | | |  | | | | |  | |  | | | |  | | | | |  | |  | | | |  | | | | |  | |  | | | |  | |  |  |  |  | |  |  |  |  |  | Introduction This SWOT (strengths, weaknesses, opportunities, threats) analysis assess the desirability of increasing Hal’s Woodworking website over and above its current state. The latest website comes with information about the business and some shop information, just like locations and hours. Administration is considering expanding the web site to include shopping online.

Through the research of the strengths, weaknesses, possibilities, and hazards I have identified that broadening Hal’s Woodworking is good idea since it has its own strengths that could overcome the weaknesses. Growing will be necessary for the company to stay in business in the future. But Hal’s Woodworking must also focus on their particular weaknesses and threats to stop being go out of business by significant chain merchants such as House Depot and Amazon. Strengths Hal’s Woodworking has several strengths that may make the development of selling products on a website good.

Hal’s Woodworking has good local community existence that throughout the expansion with the website allows the company to succeed in customers who also they can’t reach now by moving by local to worldwide. The business also has strong reputation of getting providing high qualified service through proficient staff. That strength could be translated for the website if the inventory which the company provides on the website can be tailored by the staff that knows the item. In doing the fact that customer may either get it through the online store or go to the store with the knowledge of what they want.

That may lead to a no trouble experience for their valued clients and clients. Weaknesses Hal’s Woodworking has various weak points that could hinder the success of broadening to buying on their website. A store is community and will simply showcase a restricted selection of their products online. Becoming a local existence the price items for these products will not take on the bigger websites like Amazon online marketplace and Residence Depot. Although if the company really wants to compete, lower prices will be necessary which will cause a decline on profit margins pertaining to the products proposed by the company.

Without solid program in place Hal’s Woodworking requires some qualified advice before entering the ecommerce globe. Opportunities Hal’s Woodworking could have various options that could help the company achieve expanding their website. The company presents classes and workshops pertaining to the home owner and amateur each month and regularly agendas seminars that are underwritten and taught by simply manufacturers. If the company can offer those video clips on the website it might add much more value to high-end specialized tools currently being considered to get the website.

In expanding to selling on the web it will lead to increased coverage and the improved web presence which could lead to more sales that could help the company to eventually grow. Threats Hal’s Woodworking may have various hazards that could jeopardize the company growth of it is website. In order to reach their valued customers, it will be a threat so they can compete with in a major way companies like Amazon and Home Website since these kinds of big companies already promote products at low prices. This will leave Hal’s woodworking susceptible to selling price changes and may leave the business with low profit margins in the event that Hal’s determines to compete on value.

Lastly, Hal’s Woodworking dangers losing their particular family owned standing if it strays from what has made all of them successful. Summary and Suggestions In order for Hal’s Woodworking to achieve success the company could create and expand partnerships to tool companies. This could allow the company to be able to bid intended for lower prices of goods and eventually sell those goods to buyers at a lower cost. An additional recommendation comes with having special offers, free items, or dedication discounts for regular costumers that visit the site.

This will help retain current clients and help gain new customers. Lastly an online membership rights could help the company monitor customer trends. Which has a solid plan in place and expert guidance, Hal’s Woodworking could effectively sell products on a website if the company uses its established reputation. Even though the company won’t be able to compete with the cheap rates from big companies it can present superior service which the organization is known to get. References Schneider, Gary L. Electronic Commerce. Boston, MUM: Course Technology Cengage Learning, 2013. Produce.