SWOT Analysis

"An effective marketing program blends all of the marketing mix elements into an integrated marketing program designed to achieve the company’s marketing objectives by delivering value to consumers. The marketing mix constitutes the company’s tactical tool kit for establishing strong positioning in target markets."

"The marketer should conduct a SWOT analysis, by which it evaluates the company’s overall strengths (S), weaknesses (W), opportunities (O), and threats (T)" (Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing)

S-  My strengths and advantages are that I have multiple forms of entertainment for the customers and It'll be the first time that karaoke and hookah is combined as a business here in Las Vegas. Another strength is that the bar offers culture and diversity and people love to try new things and experience different cultures, which is why my business will have a combination of the middle eastern culture and american culture. 

W- One of my weaknesses is that I have a lot different options at my bar starting from food,drinks,hookah,tobacco, and karaoke, and I will need to invest a lot of money at first to provide all those options, therefore I need to find a way to cover all those costs by making up for it in profit. 

O-  Because I'm running my own hookah lounge I will have to opportunity to sell my own tobacco products for hookah instead of buying them from other distributors. 

T- Since hookah has become very popular, a lot of people are opening up new hookah lounges, so that could potentially be a threat to my business because I have to compete with their prices and menus and keep it interesting enough for people to keep coming to my hookah/karaoke bar.