Teresa Is a Dog Groomer Who Has Recently Become Licensed

Essay

Teresa is a dog groomer who has recently become licensed and is now able to take on clients. She decided to go out on her own at the end of the current year and start her own business, Happy Wags Dog Grooming. The goal of Happy Wags will be to provide a spa-like experience for dogs where they will be pampered and groomed and given a fun experience while in Teresa's care. She is aware that there will be challenges to starting her own business, and she wants to be sure she gets it right. When Teresa took a business class in college, she learned about SWOT analysis and how it helps create a strategy for new businesses. Teresa secured a location in an up-and-coming downtown neighborhood that has attracted many other new businesses recently. She would like to have her business strategy and SWOT analysis completed in the next couple of months. Taking all of this into consideration, answer the following questions.
a. As part of the SWOT analysis, what are some examples of Happy Wags' internal strengths and weaknesses?
b. As part of the SWOT analysis, what are some examples of external opportunities and threats for Happy Wags?
c. Why do companies use a SWOT analysis as part of their strategy, and what are some advantages and disadvantages of opting to use this method?