SWOT Analysis:

A SWOT analysis is a crucial strategic tool for service providers, offering a

comprehensive framework to evaluate their business's strengths, weaknesses,
opportunities, and threats.

Originally designed to provide a structured approach for organizations to assess their

internal and external environments, this method is extremely beneficial in the diverse
and evolving service industry.

As a service provider, or someone considering entering this sector, conducting a SWOT

analysis can offer immense value. It allows you to identify your competitive advantages
(strengths), areas needing improvement (weaknesses), potential for growth
(opportunities), and external challenges (threats).

For example, your strengths might be a highly skilled team or advanced technology,
while weaknesses could include limited market presence or resource constraints.
Opportunities might present themselves as unmet customer needs or emerging market
trends, and threats could be fierce competition or regulatory changes.

Strengths

Consider your unique selling points. What special services or expertise do you offer?

Perhaps you have a highly skilled team with specialized knowledge, or you offer a
service that's not widely available in your region. Maybe you excel in customer service,
creating a loyal client base, or you've adopted innovative technologies that set you apart.

These internal factors can give your business a competitive advantage.

Weaknesses

Identifying weaknesses involves honest introspection.

You might be facing budget constraints affecting your ability to invest in new
technologies or marketing. Perhaps there's a gap in your team's skills or experience, or
you're operating in a highly saturated market. Limited geographic reach or dependency
on a specific client demographic could also be potential weaknesses.

These are areas where strategic planning or seeking further resources or skills could be
beneficial.
Opportunities

Opportunities are external elements that could favor your business.

For example, if there's a rising demand for your services, that's a golden opportunity.
Collaborating with other businesses or expanding your service range could open new
markets. Identifying underserved areas in your field can also be a significant
opportunity. Or perhaps technological advancements could enable you to offer more
efficient or innovative services.

Threats

Threats are external challenges that could hinder your business.

These might include regulatory changes affecting your sector, economic shifts impacting
your clients' spending ability, or emerging competitors with disruptive business models.
Changes in client preferences or technological advancements rendering your services
less relevant are also potential threats.

Strategic Implementation

What is strategy implementation?

Strategy implementation is the act of executing a plan to reach the desired goal or set of goals.
The brainstorming process helps formulate these ideas, while the implementation process puts
those strategies or plans into action. Strategy implementation depends heavily on feedback and
status reports to ensure the strategy is working and to rework any areas that may need
improvement.

Importance of strategy implementation

Strategy implementation is important because it involves taking action instead of simply

brainstorming ideas. It helps show the team that the strategies discussed are viable. It's also a
great tool for team development because everyone can participate. Strategy implementation
depends on thorough communication and the right tools to facilitate the strategy.

How to experience a successful strategy implementation

You can measure successful strategy implementation by determining if the organization has
reached its desired goals. Here are some steps on how to experience a successful strategy
implementation:

1. Define clear goals and strategies

The most important component of successful strategy implementation is defining clear goals and
the process to help the team reach those goals. Consider displaying the goals and desired strategy
on a whiteboard or PowerPoint presentation for the team. Including a visual aid can help the
team get a clearer picture of the strategy, including what the goals are and what it looks like
when they've reached them. It's also a good idea to ensure the goals and strategy align with the
company’s values and vision. Review your goals to see if any components don't align and adjust
them accordingly. That way, everyone is confident in what they're doing.

2. Determine roles and leadership

The next step in successful implementation is to define the roles of the team. Consider hosting a
separate meeting where you explain the roles of everyone on the team. This can help improve
accountability among team members and the overall transparency of the project. You can
determine your leadership structure at this phase as well. If your team only needs one leadership
role, be sure to explain why you chose that person for the role.

Determining roles also means discussing responsibilities. You can determine who’s responsible
for each part of the project and any individual deadlines you might have. If you're the manager,
keeping yourself accessible can help the team if they encounter challenges in the project.

3. Execute your plan

Once you've communicated the strategy and assigned roles, you can begin the execution of the
plan. The team typically makes initial progress within the first few days or weeks, and that can
be a good time to give a progress report. Progress reports help everyone better understand the
team's weaknesses and strengths, how far they've come and what they need to do to reach the end
goals.

It can be helpful to give progress reports or team updates at certain milestones throughout the
project. These can include:

 At the start of the project

 The first major challenge of the project
 The midpoint of the project
 The final stage of the project
 Anytime a major challenge becomes a failure to deliver
 After the team has completed the project and has reached or missed the goals

4. Monitor and encourage

Frequent updates are important to the morale of the team. Good feedback can help encourage and
motivate team members to reach for initial goals and maintain productivity throughout the
project's life span. You can monitor individual performance to ensure each team member is
doing their part and identify problem areas quickly.
 Economic Analysis
A. Service Price- The price of our delivery is a 20% fee based on location it might differ. Based
on our research and talking with our customers at the trial run, we decided to charge the 20% fee
on each item individually instead of on the payment page. The consensus from most of our
customers was that they did not even realize a difference in the price of items on our website
compared to in the store. To come up with our price point, we analyzed doordash and skip the
dishes, two popular delivery services in the Northbay area. Each of these companies charge a flat
rate, a service fee, and encourage a tip.
B. Price Reasoning- We came to our price of a 20% fee for a couple reasons. The first reason
was that it is a reasonable price that many college students are willing to pay. Our survey results
showed that _% would pay the 20% delivery fee. We also choose 10% because it makes us less
expensive than our competitors. A 20% fee still allows us to make a good profit margin on our
orders. All things considered; we decided that a 20% delivery fee was the ideal price for our
service.
C. Sales Forecast - We are predicting that we will receive 82 orders per week. The reason we are
predicting 82 orders is because during our trial run we received 41 orders. This was on a $0
budget for advertising, and we also only had the website up and running for 15 days. With a $100
budget for advertising, see section Financial Analysis subsection Capital Needs (page ), we feel
it is attainable to double the amount of orders we received during our trial run.
D. Financial Statements - Income Statement : Our fees earned in our income statement (See
Appendix, Item 5) are comprised of numbers mostly from our successful trial run. During our
trial run we were ablec to generate enough awareness to make a good amount of sales, but
nothing near what we expect to make when we launch our business. The trial run ended with 41
orders totalling $431.68. This averages out to $11 per order. Using these numbers, we believe it
is reasonable to predict, with a good marketing strategy and an advertising budget, we will be
able to double our sales from the trial run. This is how we found our fees earned, we doubled our
orders to 82 orders a week at an average of $11 an order. We then multiply this by our service fee
of 10%. 82 orders * $11 per order * .20 delivery fee = $180.40 per week. We will be ready to
operate at the start, so we anticipate operating for 15 weeks. $180.40 * 15 weeks = $$2,706 fees
earned.
The next number on our income statement is $500, this comes from our credit card rewards. We
are applying for a credit card through Chase, the same bank our bank account is with. When we
spend $3,000 within 3 months, we will receive a $500 rewards check. From our projections, we
will spend more than $8,736 in our first 3 months, so we will receive this $500 of rewards
money. This brings our total revenue to $3,206. Our expenses for the semester will be minimal.
The largest expense will be the variable expense of credit/debit card transactions. There is a
service fee of $0.30 per transaction as well as an overall fee of $0.03 on the total of every order.
For the first fee of $0.30 per transaction, the equation is: 16 82 orders per week * 15 weeks *
$0.30 fee per order = $369. Then we calculated the $0.03 fee on the overall total purchases. To
find the overall purchases we must go back to how many orders per week, average order total,
and number of weeks in business. The equation is: 82 orders * $11 per order * 15 weeks *
$0.03 fee per order = $405.90. Now we add these two separate credit/debit expenses together
and we get our credit/debit expense of $369 + $405.90 = $774.90. Our other expenses are fixed
and much simpler.
 First is the advertising expense. It is exactly $100. The $100 is split into different sectors.
 We will be spending $40 for five shirts. These shirts will be worn by our four group
members and the fifth shirt will be given to a customer in a contest.
 Our next advertising expense is $15 for 250 business cards that we will be handing out to
as many as we can. The business cards will have our website and contact information on
it.
 We will also be using $20 for cash back incentives to customers. We will do this in four
segments of $5 cash back to the winner of the contest.
 Our last advertising expense is $25 for 100 flyers. Our flyers were successful in getting
us customers for our trial run, so we will be sticking with them.
 We already have a new flyer designed for January. All these advertising expenses of $40
+ $15 +$20 + $25 =$100 in advertising expense.
 The next expense is our website expense which is $25 per month which we will need for
4 months. $25 a month * 4 months = $100 website expense.
 Our gas expense is minimal. Using the mileage from the trial run we estimate it will cost
$4 per week in gas * 15 weeks = $60 gas expense.
 All of our expenses added together, $774.90 + $100 + $100 + $60 + = $1034.90 total
expenses.
Balance Sheet - The balance sheet (See Appendix, Item 6) is very simple for our service. We
only have one item in all three categories: assets, liabilities, and stockholders’ equity.
 Our asset section has our cash, our net income from our income statement, $2171.10.
This number equals our liabilities and stockholders’ equity together.
 Our item in our liabilities section is notes payable, this number is what we are asking
the sharks to loan us, $928.
 Lastly are our retained earnings in our stockholder’s equity section. The retained
earnings total is $2171.10.
Scenario Analysis:
Using our scenario analysis that was comprised of numbers in our financial statements, we
created our matrix. The fees earned was used, but we did not add the $500 credit card revenue
because it would mess our profit per unit up. As this revenue is not directly related to the revenue
from the items we sell. Our matrix is very important because it shows how our business will
operate at a high, mid, and low price, and sales points. This matrix played a part in coming up
with our final decision to make our service fee of 20%. We decided that our profit per unit and
break even point were very strong at our mid price and mid sales point. Our mid sales are 1,230
for the semester which is equivalent to 82 sales per week. Our mid price point is 20%, as stated
earlier, and looking at these points our profit per unit is $1.34. Our unit in this case is an $11 sale
that we make 20% on. This means we are making a 61% profit margin on each sale. This is an
encouraging and strong number for us! The other extremely important number in the matrix is
our break even point of 177 orders. With 82 orders a week, we will be able to hit this number
within three weeks of operation. This means all our fixed and variable costs to that point will be
covered. We will only have the variable cost for the remaining twelve weeks that we are
operating.

Capital Needs: is asking the _ to invest $928 into our company.

The money will be spent as follows: $728 to fund our first week of orders, $100 to pay for the
website and create our own domain, and $100 for advertising. To give a little more detail, during
our trail run we had to use our own money as the upfront money because the money transferring
out of one person’s bank account into _? account takes a few days. We are asking for the $728 to
cover the first order. We arrived at this number by doubling the number of orders and thus
doubling the 19 amount of upfront money that is needed to buy the cakes and gifts for the first
time .The next expense that ??_has to pay to activate our website for the duration. The $100
would not only activate our website for the duration, but it would also allow for _??to be in the
domain instead of having it as a complicated domain. The last expense that _?? has is
advertising. Our advertising expense comes out to $100 but is broken down as the following:
● $40 for 5 Shirts (4 shirts for the founders of the company and 1 that we will use as a
promotional item to generate more business as well as advertising when the winner of the shirt
wears it around campus)
● $15 for 250 business cards (business cards will be handed out in the bags of the customers
first order as well as being carried around with the founders in order to easily promote our
service)
● $20 for cash back giveaways (this was an aspect that went very will in our trial run and will be
further explained in the trial run section of this paper)
● $25 for 100 flyers. These flyers will be placed in the same buildings .