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Dry Cleaning Company Swot Analysis Essay

1997 Words8 Pages

Financial Analysis of Snead's Dry Cleaning Company
James R. Mathews, Julie Matta, Lazina Simms, Danielle Adams
BMGT 495 Strategic Management
November 9, 2014
Professor Toplin

Snead’s Dry Cleaning Company, who has been in business for 30 years, provides services for clothing garments that require professional cleaning care in the Washington, DC area. The company also provides removal of stains along with professional finishing presses. The business is currently undergoing organizational changes, analyzing its financial position and needs to develop a strategic plan to remain profitable for the upcoming years. The objective is to evaluate Snead's based on its current financial status, develop ideas that could improve its financial situation, and determine if Snead has the potential for success.
SWOT Analysis
In order to fully understand how a business is doing, and/or if any changes need to be implemented, analyzing both internal and external elements is recommended (Introduction to Strategic Management, 2014). A good technique used to analyze a business internally is the SWOT Analysis.
Even though the company can improve in a few areas, it has a number of strengths when it comes to operating and continuing to run. For …show more content…

Patrons can drop off their garments on their way to work, and will be available to pick up on their way back home. There will be no extra charge for same day dry cleaning service. In order for this express service to be effective, hours of operation will be expanded from eight hours to twelve hours and a part-time shift will be added to cover the extra hours. The cost of adding another part-time employee will be $28,000 annually. By expanding the services that the firm offers, this will increase profit over the next three years and provide more revenue in order to replace the equipment that will soon need

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