Company Description and SWOT Analysis

Company Name and Product 

• Describe the specific product or service your company will focus on.

• Provide a brief introduction of the company name.

• Explain the significance of the name of your company

• Be sure to check the feedback provided by the instructor as a reply to your week 1 discussion post in week 1discussionthread and make changes as needed. Checkthe suggestions made by other students as well. 

Mission Statement

• Write the mission statement (use quotation marks). You would have created this in week 1 discussion. Be sure to revise per the feedback provided as a reply to your week 1 discussion post. Use the Statement of Mission template on pages 72–73 of the course textbook, Successful Business Plan, to aid your development. The mission statement should include” who you are (as a company), what you do (focus on what you sell), and why you are in business (your purpose). 

• Explain the components of the mission statement and the reasoning for their selection. In this section you will clarify why the information included in the mission statement is important and should be included there. 

Trends in the industry

• Research, outline and describe the trends in the industry you are operating in (based on the type of company you selected). Try to be specific for your chosen category or product or service. 

• Consider the size and growth rate for the industry overall and for the specific product or service you are focusing on. 

• Search the Strayer Online Library, industry associations and reliable website for recent data. 

Strategic position

• Choose one strategic position from the text (page 146-147)and discuss why you believe this would be the best position for your chosen company. 

• Explain the approach you will use at your company toimplement this strategic position to stand out from similar products and competition. 

Distribution

• Describe the company’s distribution channels. For example, will you sell your beverage in grocery stores, restaurants, or sports venues. Are you attempting to sell online or as a subscription? 

• Provide the rationale for your chosen distribution method. 

SWOT Analysis

• Insert the SWOT table/matrix (at least 4 bullets in each category). You created this in week 2 discussion. Be sure toread the feedback provided by the instructor as a reply to your post in week 2 discussion thread and adjust as needed. 

• Summarize the key learnings from your matrix (the takeaways from this analysis) in a few paragraphs under the matrix. For example, you can explain your greatest strengthsand how these can be used to pursue the opportunities you identified or to mitigate some of the threats. You can also discuss your plans to minimize some of the weaknesses, etc. Be specific and avoid generic information. 

Strengths

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Weaknesses

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Opportunities

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Threats

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ShaQ Snacks- The type of snacks that I plan to provide are snacks that are chip based but dressed with add ons such as chilli dip, or pulled chicken drizzled with ShaQ sauce. To give a better description, think of a bowl with mini nacho cheese chip bite topped with pulled chicken that has been cooked with bell peppers and onions, then on top of that drizzled with ShaQ Sauce; which is a creamy sweet chili based sauce that resembles the likings of “bang bang” sauce. This plate comes in chicken or beef.

Mission Statement- ” ShaQ Snacks mission is to provide a unique spin on snacking with quality products and services, Great customer service and community involvement.”

Strengths

1. Location: having a food truck and a brick and mortar allows to gain traction

2. Unique: there isn’t any foods out there like it that is for sale.

3. Loyalty: Loyal customers

4. Products: cooked fresh to order food.

Weaknesses

1. Limited: not enough products on the menu

2. Experience: lack of experience in food industry

3. Staff: lack of employees

4. Capital: lack of capital

Opportunities

1. Social media: use social media presence to market company

2. Community involvement: cater to schools or job fairs. Spreading likeness

3. Area: Get a second food truck to operate on another side of town while the store and other food truck run. Reaching major cities.

4. Funding: small business funding to assist in expansion

Threats

1. Likeness: food not liked by the majority

Products: manufacturing running out of product

3. Competitors: other food truck operators getting more popular and getting the vendor spots

4. Change: Major change in market I.e inflation, national disaster.

text book: Rhonda Abrams. 2019. Successful business plan: Secrets and strategies (7th ed.). Planning Shop.