SWOT analysis is ideally a strategic planning tool that you can use to evaluate your current situation while also planning your future. It means strength, weakness, opportunities, and threats. This analysis will help you identify your external threats and weaknesses. Besides that, you can also analyze external opportunities and threats that can impact your success.
Subway and Its History
Subway is one of the most prominent food restaurant chains specializing in salads and sandwiches. In 1965, the subway was established by Fred DeLuca and Doctor Peter Buck in Bridgeport, USA. They started with one single store known as Pete’s Super Submarine, where they used to sell submarine sandwiches.
Over the years, Subway locations expanded quickly through franchising. The customizable sandwiches, fresh ingredients, and healthy image appealed to customers. Subway’s Eat Fresh campaign focused on its commitment to providing new and healthy food options.
Subway became a global brand with plenty of locations in different countries. The menu includes plenty of sandwiches and breakfast items.
However, Subway has faced several competition-related challenges in the past few years to become the largest fast-food restaurant chain. There are also changes in customer preferences besides controversies related to the ingredients.
The Purpose of SWOT Analysis
The purpose of SWOT analysis is to provide you with a structured framework. With this analysis, you can identify what your business is good at and where it needs improvement in your control.
You can also examine the external environment to learn about potential opportunities. You can use them and learn to manage threads. Based on the analysis, you can develop strategies to maximize the strengths and opportunities available while addressing all the weaknesses and mitigating risks. SWOT analysis will help you make informed decisions about resource allocation and goal setting. Overall, you can do your strategic planning. To better understand SWOT Analysis let’s do a Subway Store Locator Analysis.
Strengths of Subway
Subway has a huge international network of franchises, making it a globally recognized brand today.
Subway locations offer plenty of customizable sandwiches and salads. This makes it very easy for clients to choose their favorite ingredients.
The brand is known for promoting healthy fast food items. This appeals to health-conscious customers.
The menu includes plenty of breakfast, lunch, and dinner options, and it serves different customer preferences.
Weaknesses of Subway
There have been several reports regarding franchise disputes and dissatisfaction. This impacts the consistency and image of the brand. Subway faces a lot of competition from other fast-food chains. Several sandwich shops serve better items.
Some people feel that the Subway store locator lacks innovation compared to other competitors. Subway has faced challenges related to controversies about the composition of the food ingredients. It is the primary reason why its brand image is damaged today.
Opportunities for Subway
Subway locations can further capitalize on a healthy image by introducing new and nutritious menu items. It’s because health-conscious eating is on the rise.
They are embracing digital technology for online ordering and delivery services. The loyalty programs can also improve customer convenience.
Innovating the menu with new ingredients or flavors can attract many customers.
Threats to Subway
There is a lot of competition from established food chains and emerging health-focused restaurants, which threatens the brand’s market share.
The ever-evolving customer preferences night shift away from typical fast food options. This will impact the sales of the brand.
There are also public concerns about the healthiness of fast food, which can negatively impact the brand’s reputation. It’s time for the brand to address things in time.
Even pandemics or supply chain disruptions can disrupt the operations and supply of fresh ingredients.
How can Subway Capitalize on the Strengths and Opportunities?
The brand needs to offer fresh and healthy ingredients. At the same, they must introduce new menu items. To attract customers, the company can also develop some seasonal promotions.
Subway store locator needs to invest in user-friendly mobile apps and online ordering platforms to improve convenience for clients. They can also implement A loyalty program to retain loyal customers.
Subway must identify promising markets for expansion. It must consider the local tastes and preferences while adapting the menu accordingly.
How Can Subway Mitigate the Weaknesses and Threats?
Subway must conduct regular market research to stay ahead of competitors and respond to changing consumer preferences.
Subway must address public concerns by improving transparency about ingredient sources. It means that they need to come up with some quality assurance measures.
Subway store locator should address all the franchise concerns and disputes in time to maintain brand consistency and customer satisfaction.
Subway needs to develop a contingency plan to mitigate all the supply chain disruptions, ensuring a constant supply of fresh ingredients.
How Can You Conduct a SWOT Analysis?
You need to start by defining the purpose of your SWOT analysis. This means you need to understand what aspect of your business you want to assess. It can be your business strategy, a specific project, or a new product launch.
To get a well-rounded perspective, you must include key team members or stakeholders from different departments in your company.
Let’s start listing your strengths, like positive aspects of your business that give you an advantage over your competitors.
Once you identify your threats, you need to place your internal weaknesses. These areas mean your business might be lacking or underperforming in some way. You need to check where you are struggling or what sources you are lacking.
Now, it’s time for you to look beyond your business boundaries to identify the external opportunities in the market or the industry. You can check out factors like market trends and potential. You can also see the changes in customer behavior. Above all, check the emerging technologies in the market. The regulatory or policy changes should not be ignored. You can check if they can benefit your business or not.
Finally, it’s time to examine the external threats that can potentially harm your business. Considering factors like competitive pressure and economic downturns changing consumer preferences would be best.
How to Create a SWOT Metrics?
- Firstly, you need to organize your findings in the SWOT matrix, a four-quadrant grid with different sections. These sections include strengths, weaknesses, opportunities, and threats. This will give you a visual representation and help you see the relationship between various factors.
- Once you have filled the matrix, you must focus on each category’s items. It would be best if you focused on the different factors that have the most impact on your business.
- This will give you a clear picture of your strengths, weaknesses, opportunities, and threats. Now, you can brainstorm the strategies that use your strengths and opportunities. At the same time, you can mitigate the weaknesses and threats. How can you use your strengths to take advantage of the opportunities available or address your weaknesses to better position yourself in the industry? You can also check how to defend against or mitigate all the threats.
Why Do You Need to Set Your Objectives and Action Plans?
You need to define specific objectives and action plans based on the strategies. These should be actionable and time-bound goals to help you achieve your desired outcomes. You need to regularly visit the same and adapt to the changing circumstances, market dynamics, and internal developments. You must transform your strategies into specific, measurable, achievable, relevant objectives. Smart goals can provide you with a clear road map for your implementation. You can easily measure the progress.
With its global presence and healthy image, Subway store locator possesses many strengths and opportunities. Still, if it faces challenges related to competition and challenging consumer preferences, it is time to do some research. The company must focus on innovation, digital transformation, and franchise support. By embracing menu diversification and enhancing the online ordering experience, Subway can take the essential steps to capitalize on strengths and opportunities by effectively mitigating weaknesses and threats. As your business environment is dynamic, you should check the SWOT analysis quickly. Get in touch with LocationsCloud for accurate data.