bus 210 SWOT analysis
SWOT Analysis of Westbury Storage, Inc.
The SWOT analysis was completed on the Westbury Storage, Inc. business plan. This business is to established in Westbury, New York from the conversion of an existing building. The owners and operators are established in the same field with storage facilities in Plainview, New York. The total estimated cost of the start up, which includes things such as advertising, utilities, remodeling costs for the building, and payroll, is $1,054,487. The goal of Westbury Storage, Inc. is to fulfill the need for storage facilities in the growing Westbury area and to provide clean, affordable, and secure self storage for both residential and small business clients.
The business plan contained many strengths. The first item that will help both establish and build the client list is the ownership connection with Stote Moving. By providing the service of moving to the storage facility or fulfilling a need for storage to individuals downsizing or simply in need, the client base will grow more quickly than with traditional advertising. Another strength is targeting both residential and small business markets. This ensures that not only an individual with a storage need has a facility but also small business in need of extra, affordable storage has an avenue to explore. An extremely big strength to this business plan is the prior experience in the self storage field. The owners already have an established and successful storage facility in Plainview, which gives them the knowledge and background to undergo a business expansion in Westbury, New York. Before completely the business plan, several factors were researched and included in the report. By researching what amenities are offered by the competition and what amenities are in high demand, the business is able to offer these amenities at a reasonable price. Some of the amenities are heated...