Are you going to write a business plan for your car dealership? here is a sample SWOT analysis for a car dealership to help you develop a competitive strategy.
Economic analysis of the dealer’s business plan
To start a used car business like any other business, it is necessary to conduct a feasibility study and market research in order to properly conduct an economic analysis. In fact, you just need to do the right economic analysis if you intend to start a business for a profit, grow a business, and possibly expand a business from one location to other locations in the United States and in other cities in the United States. peace.
When doing an economic analysis of your used car business, you need to critically examine these key factors; location, product, price and promotion. In fact, you will need to regularly review these key factors when running a used car business.
Example of a SWOT analysis of a used car business plan
We intend to open a single point of our used car dealership on Spruce, Chestnut and Walnut streets in Philadelphia to test the business for 2-5 years to see if we will invest more money, expand the business and then open additional stores in other US cities.
We are fully aware that there are several used car dealerships across Philadelphia, and even in the same location where we will find ours, which is why we follow the proper process of starting a business. We know that if the right SWOT analysis is performed for our business, we can position our business to maximize our capabilities, seize the opportunities we have, reduce our risks, and prepare to face our threats.
Jason Hyacinth® Used Car Dealership, Inc. enlisted the services of a human resources expert and a biased business analyst in the auto dealership industry to help us conduct an in-depth SWOT analysis and help us build a model. that will help us achieve our business goals. Summary of SWOT Analysis for Dealer Jason Hyacinth® Used Car, Inc .;
Our location, our business model (we will operate both a physical garage and an online store), multiple payment options, a wide range of used vehicles of different makes and models, and our excellent customer service culture will be certainly a strong point for Jason Hyacinth. ® Used Car Dealer, Inc. In addition, our team of highly qualified employees is also a plus for us.
The main drawback that we can count on is the fact that we are a new used car dealership in Philadelphia and do not have the financial capacity to compete with multi-million dollar used car garages for the retail at very low prices.
Our intention to operate our used car garage on a corner property along the main road near one of the larger Spruce, Chestnut and Walnut Street subdivisions in Philadelphia makes us gives unlimited opportunities to sell our used cars to a large number of individuals and companies.
We have been able to conduct an extensive feasibility study and market research and we know what our potential customers will be looking for when they visit our used car garage.
As with any business, one of the biggest threats we are likely to face is the economic downturn. It is a fact that the economic recession affects purchasing power / purchasing power. Another threat we may face is the emergence of a new used car outlet in the same location as ours, and even on the Internet. In addition, unfavorable government policies can also pose a threat to companies like ours.