S.W.O.T.

 

Strengths

  • Location. City Bar will be located in a mixed-use apartment complex right off of a major highway with an average (for the area) price point to target all demographics.  As an added benefit, we will also be targeting the local businesses to build a lunch crowd.

  • Providing more entertainment.  We will be a change from all the restaurants in the targeted area.  City Bar will provide more and different entertainment options, food, and drinks for the surrounding community.

  • Loyalty of customers.  We will provide special pricing for regular clientele and fellow service industry customers.  We will keep them happy and coming back with competitive pricing for the area.

  • Focused on service.  Our staff will focus on customer interactions to keep people coming in day after day. 

 

Weaknesses

  • Low market reputation.  As a new business, we will have to focus on building and maintaining a positive reputation so that the customers will be happy to help spread the word amongst potential new customers.

  • Low brand awareness.  Although most employees involved will be from the immediate area, the company has to start from zero to build positive brand awareness.

  • The Realm is still in its early phases of development.  It will take time for a built in clientele to move into the immediate area.

 

Opportunities

  • City Bar will be the first bar of its type in the immediate area.  We can create a culture as the “hot spot” to go to on a daily basis, for celebrations, or to watch the big game.

  • Mckinney, The Colony, Frisco, and Plano are all areas that support local.  Being our first location, the community wants to see small businesses thrive.

  • The areas surrounding Sam Rayburn, Dallas North Tollway, and North I-75 are all rapidly expanding.  The area is the fastest growing in the country at the moment.  New businesses such as Toyota, The PGA, The Dallas Cowboys and others are rapidly moving employees into the area.

 

Threats

  • As the area is expanding rapidly, new businesses are opening every day.  We will have to maintain the highest standards to be relevant day in and day out.

  • Due to the fallout of Covid-19 and labor shortages, maintaining costs will be significantly more difficult. Suppliers are having difficulty filling orders, therefor driving up prices

  • Most areas already have established bar and grills, therefore we will have to break into the market.