Can’t decide what to focus on with your business? A spa SWOT analysis would help you to define the key business drivers to bring success to your company.
What is a SWOT Analysis?
A SWOT analysis, is a planning technic for an organization or team to effectively examine its Strengths, Weaknesses, Opportunities and Threats. The process was developed in the 1960s by Albert S. Humphrey and can be implemented to any type of spa business, regardless of how large or small it is. An individual can lead but the analysis may be a group effort.
A spa SWOT analysis is a great way for you to get a more detailed understanding of what is working perfectly, what should be improved, what opportunities need to be explored and what kinds of threats the company may face.
For those in the spa industry conducting a spa swot analysis will easily bring positive results.
How Does SWOT Analysis Work?
A SWOT analysis is also often referred to as an Internal-External Analysis. This is because the Strengths and Weaknesses considered to be internal factors of a team or business, whilst the Opportunities and Threats elements are more related to external factors.
When To Do A SWOT Analysis?
It is better to do a SWOT analysis every time you prepare your annual spas marketing plan or part of your spa 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 prioritize your business plans. And don’t forget to include your team’s feedback in your spa SWOT analysis.
To learn more please check out our post on Nail Salon SWOT Analysis.
Spa SWOT Analysis Examples
Here’s a spa swot analysis example.
Ask your crew to think about what they feel is working really well and what are the strongest features of the team and business. This may include positive characteristics of individual staff members as well as 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 treatments or services at which your spa excels?
Is the best strategy implemented to sell products?
Are the premises being used in a most efficient way?
Participants should try to look at the company from an external, customer perspective in order to achieve the most in discussing what are the strengths of the business.
Are the things that can and should be done better. Something that may be seen as a disadvantage from a customer’s point of view.
This might include such issues as location, insufficient staffing, limitations in premises, their layout, advertising, etc. Ask yourself, what your competitors do better?
Generally, weaknesses can be identified as the other side of strengths. A strong feature of a spa will usually highlight a weakness as well.
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 lead to defining your opportunities: what opportunities do they create?
What weaknesses can be eliminated and turned into potential strengths?
Are there current trends such as particular type of treatment that can increase revenue? What about special promotions or loyalty programs that can be used to encourage more customers?
Are there new products that other spas on the market are not offering and selling them can become your advantage?
Are factors that interfere with the performance and hinder the progress within your spa. They can also include external forces such as 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 spa swot analysis should become a part of the process of regular evaluation of how your company is running…and remember this process can be used for any kind of spa.
Instead of being a ‘one off’ activity a spa 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.
To learn more please check out our post on Barber Shop SWOT Analysis.