Tibiao Fish Spa as a newly established industry in Tibiao, Antique aims to provide a one-of-a-kind experience by combining the relaxing and exfoliating effects of fishes nibbling on a person’s layer of dead skin. This new kind of body treatment is considered to be totally safe, fun, and very effective. But along their way, the business also encountered different problems and achievements that could be consider as primary sources of their internal strengths and weaknesses.
We all know that a business entity should always be acquainted on its strength and weaknesses in order not to be easily penetrated by its competitors or to make the business down. In this case, if the business entity could really distinguish where it stands at this point in time, it would certainly know how to act or respond if there are problems in the business. With this regard, we have recognized the strengths of Tibiao Fish Spa that give them edge against other fish spas and spas in the market.
•Tibiao fish spa gains a competitive advantage against other fish spa because they use local fishes. This made it the number one fish spa in the Philippines that utilizes what we have here in the country. They don’t import fishes from abroad rather they discover the usage of different species of fishes that exist locally here in the Philippines.
•The business also earned an advantage of having their services as cheap and affordable so that any person could afford and experience what it feels to be in the fish spa. It has a big difference in terms of prices to the three other fish spa available in the country, which made it known to be the “Fish Spa for the Masses.”
•The owners personally manage and market their business, which could be a great strength for the business itself. With that, they would have a little expense on hiring employees for the fish spa.
•It is also an asset for the business to be one of the only four fish spas in the Philippines. With this, they have a big opportunity of having a wide market share.
•The business also considers its good Research and Development studies to be their primary strength. With this, they found out the use of local fishes as subjects and the bio-filtration technique.
•Using bio-filtration as a way of cleaning and sanitizing the water it uses in the service from any kind of bacteria and fungi gives a great strength for Tibiao Fish spa. The management ensure that their fishes are free from any disease that could harm their customer. Making this technology patented on their name sets them a big advantage to every business that will try to penetrate them.
On the other hand, Tibiao fish spa also has weaknesses that they should significantly reflect on. The group have identified the following weaknesses:
* Tibiao Fish spa has a weak organizational structure which could greatly affect their business. They lack specific heads and staffs in each department. They have not also assigned specific responsibilities and tasks to their employees.
* The business also has a poor marketing skills since the owners are fisheries graduates they don’t have enough background and knowledge in marketing strategies.
* It also has a weak financial control since the business don’t have an accountant to check and audit their financial statements.
* Some people have negative notions when they heard that the fishes are the ones giving the service. They thought that this would be a kind of fish abuse.
Based on the overall SWOT analysis, the group has analyzed that the business will improved and developed. It would also be a profitable business for the owners since they offer cheaper and affordable services more people will flock and try what they are offering in their business, plus the fact that it is a unique and new way of a spa experience. They could also help improve not only that of the region’s economy but especially that of the whole country since this could become one of the country’s tourist attractions. The business is also considered as an environmental advocate since they give their customers environmental awareness as they promote the use of natural resources such as the fishes and bio-filtration in their business.
On the other hand, the issues that they are currently facing are just minor problems since the business could also find means and ways in solving it like hiring an accountant for auditing their financial statements.