SWOT Analysis
Strengths
· Qualified staff and reputable affiliations
· Positive, respectful and professional attitudes and cultural behaviour
· High quality of work completed
· Competitive pricing strategy
· Low start-up cost results in a higher cash flow
· Low expense structured business
· Located in Clarksburg: Ideal location for Simcoe area. All target customers are within a short distance drive
· State of the art design software that creates the ideal living space online. This saves time, effort, and money for both the owners and customers
Weaknesses
· Small company- Low brand recognition and retention
· Limited staffing could result in turning away jobs
· Limited staffing could result in longer deadlines
· Owners have limited capabilities- Affiliations could already be booked up, resulting in extending the expected timeline for the customer
· Design software is heavily relied on- If there are any bugs or issues, or the system crashes, all designs will be lost, extending the expected timeline for the customer
Opportunities
· Working with larger companies such as real estate agents
- Great area of wealthy skiers and cottagers
- Great potential for local partnerships and collaboration i.e. contractors, painters, cleaners, upholsterers, fabric shops and hardware stores.
- Potential to work with a real estate agency to help design/ stage houses
- Potential for cross promotion and networking through all of these collaborations
- Potential to acquire customer loyalty and be hired to do other projects and homes for the family
- Potential to attract foot traffic and potential customers with Clarksburg Interior store front. Having fabrics and other merchandize only designers have access to could entice customers to do business.
- Potential to expand into other markets through customers
- Could establish another store front in other wealthy areas such as Muskoka or even try another province like British Columbia, and appeal to a similar market.
- Poor economy/ lack of disposable income among households
- Lack of interest or motivation to enhance personal living spaces
- Other local designers or contractors
- Real estate agents who fancy themselves home stagers
- Rising prices of materials and services
- Design magazines or television programs teaching people how to do it themselves
- Home depot and other hardware stores that teach people how to do the work themselves
- Designers being contracted up from the city