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SWOT: Interior Design Case Study

November 2006 (Creativebias)

Following is an authentic example of how the SWOT analysis works.

This exercise will provide you with a specific analysis of your own business.

SWOT: April 2008

STRENGTHS

  • Little competition locally
  • No staff to manage
  • Word-of-mouth recommendations
  • Repeat business from same clients
  • Excellent people skills
  • Reads characters well
  • No business premises costs
  • Member of local business-network

WEAKNESSES

  • Need more frequent financial analysis
  • Tax: self assessment difficult
  • Not many samples to show clients
  • No website
  • Not much publicity material
  • Unsure of where to advertise



OPPORTUNITIES


  • Have a website designed
  • Learn to up-load own materials
  • SME support and training available locally
  • New clients in wider geographic area
  • Design showrooms for building companies




THREATS


  • Very competitive industry
  • Bigger firms have visual presence
  • Economic decline reduces disposable income
  • TV shows encourage DIY design


Having analysed the current status of your business, the next step is to plan how to use that knowledge to strengthen and improve your venture.


Action Plan

Solution / Task



When

Need more financial analysis

Set up spreadsheet and update weekly

Now

Tax self assessment

Enrol on free government course

Before tax year ends

Need more samples

Build up stock, ask suppliers for free samples

Now

No website, internet advertising

Access free training re designing site and uploading materials

Now

Need more publicity material

Before and after pictures in a brochure, printed at home

Within 2 months

Where to advertise?

Local free press; leaflets in companies where young professional work; leaflets in local estate agents’; pens and note pads

Once website ready; budget for leaflets and stationery

Need more clients

Design showrooms

Contact local building companies with brochures and competitive prices

Once brochure and website ready

Repeat business

Keep in contact with previous clients; small % reduction for repeat business; ‘introduce a friend’ voucher scheme

6 monthly

Business network

Continue networking

On-going

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1 Comment

  1. This gives a good practical idea. The S and W in a SWOT analysis are internal (about your company) and the Opportunities and Threats are external.

    Margo Lumby
    Website: http://www.toolkitmarketing.co.uk
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