If you are looking for a way to review and improve your business, a barber shop SWOT analysis might just be the best starting point for you.
How Do You Define SWOT Analysis?
SWOT analysis is a planning technic for a company, project, or team to effectively examine its Strengths, Weaknesses, Opportunities, and Threats.
A barber shop SWOT analysis is an excellent way to better understand how things work in your business, what can create more opportunities, and what should be changed or ceased.
A SWOT analysis is also often called an Internal-External Analysis:
- Strengths and Weaknesses are considered to be internal factors of your team or barber shop
- Opportunities and Threats would be the elements that are more related to external factors.
To learn more please check out our post on How To Perform Nail Salon SWOT Analysis.
When You Should Run A SWOT Analysis?
We would suggest doing a SWOT analysis each time you prepare your annual barber shops marketing plan or part of your barber business plan but it can be done as a standalone at any moment you consider it helpful.
It is always a simple and effective way to find your business priorities. And don’t forget to include your barbers' feedback in your busine SWOT analysis.
Barber Shop SWOT Analysis Examples
Ask your barbers for feedback on what works well within your team and business. This may include positive characteristics of individual staff members and how they work together as a team. Discussing in detail how successful the business is and what makes it so can highlight the positives. For example, are there grooming services at which your barber shop excels?
Is the way you promote retail products generating additional sales?
Is the barber shop space used most efficiently?
It is important to look at your barber shop from an external customer perspective in order to achieve the most in discussing what are the strengths of the business.
These are the things you should work on improving. Something that may be seen as a disadvantage from a customer’s point of view.
This might include such issues as location, not enough barbers, bad appointment booking and confirmation experience (no online booking), limitations in space, too much advertising, etc. Ask yourself, what do your competitors do better?
Generally, weaknesses can be identified as the other side of strengths. A vital feature of a barber shop will usually highlight a weakness as well.
To learn more please check out our post on How to Write a Barber Shop Business Plan.
What local resources, such as opportunities for advertising, are at your disposal?
Is there a new treatment or technology that can be tried? Strengths and weaknesses should define your opportunities: what opportunities do they create?
What weaknesses can be eliminated and turned into potential strengths?
Are there current trends such as a particular type of treatment that can increase revenue? What about special promotions or loyalty programs that can encourage more customers?
Are there new products that other barbers on the market are not offering and selling them can become your advantage?
These factors interfere with the performance and hinder the progress within your barber shop. They can also include competitors’ activity, changing trends and market situation, and financial issues.
The sooner you identify the threats, the sooner you can start reducing them, or at least decrease the impact.
Undertaking a barber shop swot analysis should become a part of the regular evaluation of how your company is running…and remember, this process can be used for any kind of barber shop.
Instead of being a ‘one off’ activity, a barber shop swot analysis can become a regular tool for evaluating performance and highlighting new ways to improve on your way to success.
The more often a SWOT analysis is implemented, the more familiar and comfortable your staff will become with the process.