Are you writing a bakery business plan? If YES, here is a detailed guide on how to conduct and write a bakery SWOT analysis & competitive strategy.
Because of our drive for excellence when it comes to running a bakery business, we were able to engage some of the finest business consultants in Orlando Florida to look through our business concept and together we were able to critically examine the prospect of the business and to access ourselves to be sure we have what it takes to run a standard bakery company.
A Sample Bakery Business SWOT Analysis
Economic Analysis
Starting a bakery business is indeed tricky due to the expertise and other things that must be put in place hence critical economic analysis must be conducted to ensure that the risks and other threats associated with starting a business from the scratch or investing in a business idea are mitigated.
If you are considering starting a bakery business in the united states, your concern should not be restricted to just acquiring an office facility and equipping the facility or hiring the best hands in the industry, you should also be concerned on how to attract customers to patronise your products, after all you will not consume them yourself.
Averagely, setting up a bakery business is usually expensive, but when done on a small scale with a lot of ideas induced into it, the business will pay off in the long run.
In view of that, we were able to take stock of our strengths, our weakness, our opportunities and also the threats that we are likely going to be exposed to in Florida and even in the United States of America as a whole. Here is a of what we got from the critically conducted SWOT Analysis for Top Taste Confectionaries™;
1. Strength
Our strength lies in the fact that we have a wide range of products that can meet the needs of a wide range of customers. We have state of the art facility and equipment that has positioned us to meet the demand of products even if the demand tripled over night or if we had a massive order to meet and emergency delivery deadline.
Another factor that counts to our advantage is the background of our Chief Executive Offices; she has a robust experience in the industry and also a pretty good academic qualification to match the experience acquired which has placed her amongst the top flight bakers in the United States of America.
We are not ignoring the fact that offering consultancy services and running a standard and accredited bakery institute is definitely going to count as a positive for us.
2. Weakness
The fact that we are setting up a bakery business in a city with other bakeries might likely pose a challenge for us in breaking into the already saturated bakery business in Orlando, Florida. In essence our chosen location might be our weakness.
Nevertheless, we have plans to launch out with a big bang. We know with that, we will be able to create a positive impression and we have a proper handle when it comes to building on already gather momentum.
3. Opportunities
The opportunities available to us are unlimited. Loads of people consume breads, cakes and snacks on a daily basis, and all what we are going to do to push our products to them is already perfected. There are also loads of people who might want to learn how to bake; as a result, they can readily find our government approved bakery institute highly ideal for them to fulfill that goal.
4. Threat
The threat that is likely going to confront us is the fact that we are competing with already established bakeries in Orlando, Florida, and also there are other entrepreneurs who are likely going to launch similar businesses within the same location we plan to launch out from.
Of course, we foresee that they will compete with us in winning over the available market. Another threat that we may likely be faced with is the area of government policies.
List of Major Competitors in the Industry
Just as in any industry, there are usually big brands that have made a mark and a name for themselves, the bakery industry too is not an exceptions. As there are many big brands in all of the aspects of the bakery industry that have made a mark for themselves, and they include the following:
- Interstate Bakeries Corporation
- Sara Lee Corporation
- Flowers Foods, Incorporated
- Bimbo Bakeries USA
- Krispy Kreme Doughnuts, Inc.
- Tasty Baking Company.
- A B P Corporation
- Nonni’s Food Company Inc.
- Maple Leaf Bakery Hendersonville
- Thorntons Inc.