FUNDINGFOCUS
Weighing it up
Hitachi Capital Franchise Finance on how to conduct a SWOT analysis for your potential franchise
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henever you assess a new opportunity, a SWOT analysis could be useful in helping you evaluate it. Here's some hints and tips on using a SWOT analysis to
help you weigh up the brands you are considering. SWOT stands for Strengths, Weaknesses, Opportunities and Threats. A SWOT analysis is a useful tool to assess, evaluate and compare these aspects of different franchise brands. In almost any situation, your likelihood of success can be improved by getting a handle on known strengths, weaknesses, opportunities and threats.
Is it difficult to complete a SWOT analysis? No. In short, you can conduct a simple SWOT analysis on the back of an envelope. However, the most useful SWOT analysis is best conducted as a considered exercise with input from family and friends. Different people could have different perspectives on things that you consider the
strengths or weaknesses of a brand. Working through each quadrant in turn, ask
yourself the questions appropriate to the brand. When you have captured thoughts on all four areas, it’s useful to rank the views. Some may be less pertinent; others may be of vital importance. The best SWOT analysis relies on complete
honesty – put everything down as you think of it. If it turns out to be less important that will become evident when you rank it! A good SWOT analysis will help you evaluate the risks and rewards associated with the franchise brands you’re are considering using the four quadrants.
The four quadrants – and outline: STRENGTHS What does the brand do well or sets them apart from the competition?
How long has the brand traded in the UK? How successful are the franchisees? Speed of return on your investment
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