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Athlete's Warehouse Swot Analysis Essay

979 Words4 Pages

University of the People

BSc Computer Science

Principles of Business Management

TOPIC: SWOT Analysis

July - 2023

Introduction

Athlete's Warehouse is a potential business venture founded by Colin and Ed Power, two individuals with a deep passion for athletics and sports goods. With a vision to provide quality athletic footwear and clothing, they aim to fill a gap in the market by offering expert knowledge and personalized service. This SWOT analysis evaluates the strengths, weaknesses, opportunities, and threats associated with Athlete's Warehouse, providing insights into the internal and external factors that may impact its success. By understanding these factors (Neolaka, 2023), Colin and Ed can make informed decisions and develop strategies …show more content…

Expert knowledge and experience: Colin and Ed Power have a deep understanding of athletics and sports goods due to their athletic backgrounds and involvement in coaching and supplying sporting goods. Their expertise and knowledge can give them a competitive advantage in providing expert advice to customers.

2. Unique product mix: Athlete's Warehouse plans to specialize in quality athletic footwear and clothing. This focus on athletic goods, combined with knowledgeable staff, sets them apart from their competitors. Offering a unique product mix can attract customers who value quality and specialized assistance.

3. Favorable market conditions: The economic conditions in Grand Falls and the neighboring town of Windsor are positive, with steady employment and a relatively high average family income. Additionally, Grand Falls serves as a primary service center for a retail trading area of at least 50,000 people. These favorable market conditions provide an opportunity for Athlete's Warehouse to tap into a potentially large customer base.

Weaknesses:

1. Limited financial resources: Colin and Ed have limited financial resources to invest in the business. They need to secure funding from Ed, who is concerned about tying up his retirement savings. This financial constraint may restrict their ability to invest in areas such as marketing, store renovations, and …show more content…

Pricing pressures: The presence of other stores offering lower-priced and lower-quality lines could pose a pricing challenge for Athlete's Warehouse. Balancing the provision of high-quality products with competitive pricing may require careful pricing strategies to attract customers while maintaining profitability.

3. Location considerations: The choice of location will significantly impact the success of Athlete's Warehouse. Both options, the downtown area and the Exploits Valley Mall, have their advantages and disadvantages. The wrong location choice could result in limited visibility, reduced foot traffic, and lower sales. Thorough market research and analysis of the target customers' preferences and shopping habits are crucial to mitigate this threat.

Based on the SWOT analysis, Athlete's Warehouse has several strengths, including the founders' expertise, unique product mix, and favorable market conditions. However, there are weaknesses, such as limited financial resources and a lack of full-time commitment. The opportunities lie in targeting an untapped market segment and the growing demand for athletic goods, while threats include established competition and location

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