Are you about writing a radio station business plan? If YES, here is a sample SWOT analysis for a radio station company to help you form a competitive strategy.
Radio Station Business Plan – Economic Analysis
The income you can generate from your radio station is proportional to the finance that you pump into the radio station. It might be expensive to run a 24 hours 7 days a week radio station with some of the best on – air radio personality and quality programs, but that is part of what you require to attract listeners to you radio station.
If you have a robust listenership, you can easily attract corporate organizations and individual to place adverts on your radio station; that is perhaps one of the major means of generating income from a radio station.
A Sample Radio Station Business Plan SWOT Analysis
The Parrot™ 98.8 Talk and News FM, Inc. engaged the services of a core professional in the area of business consulting and structuring to assist our organization in building a well – structured talk and news radio station that can favorably compete in the highly competitive radio broadcasting industry in the united states.
We know that if we get things right before starting our radio station, we will not have to struggle before attracting loyal clients cum viewer base to a level where we can easily breakeven. We hired the services of Dr. Edwards Christopher, a HR and Business consultant with bias in business structuring to help us conduct SWOT analysis for our company and he did a pretty good job for us.
Here is a of the result we got from the SWOT analysis that was conducted on behalf of The Parrot™ 98.8 Talk and News FM, Inc.;
The Parrot™ 98.8 Talk and News FM, Inc. was established to take the lead in the radio broadcasting industry and we are coming into the industry with robust experience and facility that will no doubt give us an edge over our competitors. We are also not ruling out the synergy that exists in our carefully selected workforce, and our services will be measurable, result driven and guided by best practices in the industry.
As a new Radio station with bias in talk show and news broadcasting in Los Angeles – California, it might take some time for our organization to break into the market and gain acceptance especially from top profile clients in the already saturated and highly competitive industry; that is perhaps our major weakness.
The opportunities available to radio stations are massive considering the number of listeners who would want to advertise in our station. As a standard and world class talk and news radio station, we are ready to take advantage of any opportunity that is available in the industry.
One of the major challenges that will confront our business is the trend in broadcasting technology. Aside from Television and online streaming services that are pulling attention from potential radio listeners, the internet has made it easier for any online radio station to operate easily. With that, it might make it difficult for us to lock – down a larger percentage of listeners within our target communities.
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