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Swot Analysis

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Essay title: Swot Analysis

“SWOT” Analysis

Ryan Beerthuizen

October 10, 2007

Executive Summary

My business consists of collecting and hauling scrap to the scrap yard. My target market from a selling point is local scrap yards and from a purchasing point anyone who may have scrap metal, which could be anyone from governments officials to single mothers. My strategy is to use my knowledge of scrap metal and recyclable materials assist me in the purchasing, sorting and selling of scrap metal as well as the physical resources I already have such as a truck, trailer and other odd tools used for processing different types of metals. A “SWOT” analysis will help my business by identifying my any ways I may be able to make my business more successful and as well how I out do my competition in terms of quality of work, price of work, and convenience. I have completed research by means of many websites concerning scrap metal prices and future demand for metals particularly in China. The purpose of this report is to identify the strengths, weaknesses, opportunities and threats to my business as well as my place in the market. This report contains research and facts collected by myself to help complete a “SWOT” analysis.

“SWOT” Analysis

Part A

Internal Resources

My physical resources would be considered a strength and they consist of a truck and trailer as well as various tools such as cutting torches, grinders, air compressor and various air tools, chisels, screwdrivers, ratchets, wrenches and many other.

My financial resources would be considered a weakness and are little to nil at this time but should hopefully be better in the near future.

My human resources are a strength and are myself (as it generally only takes one person) and a few others who knowledge of scrap metal. I have the strength to handle the labor aspect and the others I can call on whenever needed, if at all.

My information resources are a strength and are myself as well. I have a vast knowledge of metals and recyclables as to how to identify and sort each of the many, many different types. I know the different prices of each item so as to know how much to pay for, how much time to devote to a certain piece of scrap whether it be to remove or dismantle, to know if it is worth the time and or effort.

Part B

Opportunities and Threats

An opportunity for my business is the demand for metal in China. China will be building a new coal plant every week for the next five years. This has created a greta demand for scrap metal allover the world. Here in Thunder Bay alone scrap metals prices have gon from $88 per ton in 2006 all the way up to $140 per ton in 2007, and prices in China have soared to over $700 per ton.

A threat to my business would be the rising competition. With employment rates dropping more and more people are turning to hauling scrap. Anyone with a truck and or trailer can start hauling scrap and you never know when another person will lose their job and decide to start hauling. ((http://www.chroniclejournal.com/classifieds.php) retrieved October 10,2007)

Business Strategy

My business strategy is to try and pull together some financial resources, whether it be through employment, loans, grants, or freebies. If this is possible I will be able to purchase larger equipment to start hauling on a larger scale. The larger loads you can carry or the more efficiently you can haul the more money you can make and the more money you can save to put

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