6. Sell Suds Bar products at Fifers Orchards, and local health food stores.
7. Increase sales by 10 percent.
8. Reduce cost per bar by reducing soap bar size.
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Situational Analysis.
The following SWOT analysis identifies the main strengths and weaknesses within Suds Bar Soap and Essentials, and indicates the opportunities and threats the business faces.
Strengths.
• Business owner brings knowledge of soap making with Chemistry degree.
• Products are hand-made with natural and organic ingredients.
• Price is lower than competition. .
• The business is a member of the Central Delaware Chamber of Commerce.
• Business has an eye catching brand and logo.
• Business has a Facebook page.
Weakness.
• The mission statement of Suds Bar Soap and Essentials is weak. The current mission statement addresses the history of the business instead of stating the mission.
• The business lacks financial resources.
• There is not enough information about the products on the website.
• Competition from The Soap Fairy, a local soap producer.
Opportunities.
• Target female population in 35-54 age group with available income to spend on organic skin care products.
• Growth potential: Expand target market to New Castle County and the Sussex County beach resort areas, Lewes, Rehoboth.
and Bethany. Although the Soap Fairy is the main competition in Sussex County, there is opportunity for an additional .
artisan soap business.
• Sell products at local farmers markets, craft shows and health food stores.
• Find investors to finance business.
• Focus more on marketing and sales, less on production.
• Outsource production.
• Join a trade organization such as the Organic Trade Association.
• Apply for a patent to prevent counterfeiting.
Threats.
• Suds Bar Soap and Essentials faces competition from:.
o The Soap Fairy, a locally owned soap manufacturer that targets the Southern Delaware Beach population.
