How to Conduct an internal audit for your restaurant
S.W.O.T. stands for Strengths, Weaknesses, Opportunities and Threats and is a great framework for evaluating your restaurant’s position in the market. Strengths and Weaknesses consider everything that you as the owner can. Opportunities and Threats refer to aspects of your business that you don’t have control over but are factors that can impact your business for better or worse. Together, all four categories come together to provide a holistic view of where you are in the competitive F&B landscape. It’s a useful and flexible framework to assess your current position, identify a strategy to move forward or to analyze a changing market and respond proactively. It can also be applied to a competitor to see what others do well and if there are any gaps in the market they primarily serve. Strengths: What makes people choose YOU over everyone else? What is the special something that your restaurant offers that others don’t? A special seasonal menu or your extra pretty sundae dessert t...