Dr. Paul Borosky, DBA, MBA
Business Plan Writer · Business Consultant
How to Write a SWOT Analysis for a Business Plan
Most SWOT tables are four lists nobody uses. The point is not the list. The point is what you do with it. Watch Dr. Paul build a SWOT inside a real business plan, then follow the example and turn yours into strategy.
Last Updated: 10/30/2026 · Written by Dr. Paul Borosky, DBA, MBA
Watch First
Watch: Trucking Company Business Plan: SWOT Analysis
The Short Answer
What Is a SWOT Analysis in a Business Plan?
A SWOT analysis sorts the factors that affect your business into four boxes: Strengths and Weaknesses, which are inside the business, and Opportunities and Threats, which come from outside it. In a business plan, it sums up your position and sets up the strategy that follows.
The problem is that most SWOTs stop at the list. A lender reads "strong team" and "competition" and learns nothing. The fix: make every item specific, then match the boxes to each other to decide what you will actually do.
Ready to Put Your SWOT Into a Plan?
Internal vs. External
What Is the Difference Between Internal and External Factors?
| Helpful | Harmful | |
|---|---|---|
| Internal You control it | Strengths: skills, location, equipment, reputation, cost advantages | Weaknesses: thin cash, limited staff, no track record, owner dependence |
| External You react to it | Opportunities: new demand, a competitor closing, new contracts, local growth | Threats: new competitors, rising costs, regulation, a slow economy |
Simple test: if you could change it tomorrow with a decision, it is internal. If it would happen whether your business existed or not, it is external.
Worked Example
What Does a Completed SWOT Analysis Look Like?
Here is a filled SWOT for a fictional business, Ironleaf Coffee Roasters, a small roaster with one cafe planning a second location.
| Strengths | Weaknesses |
|---|---|
|
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| Opportunities | Threats |
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Strategy
How Do You Turn a SWOT Analysis Into Strategy?
Match the boxes. This is called a TOWS matrix, and it is where the SWOT starts paying for itself.
- SO
Strengths + Opportunities: attack
Use in-house roasting to win the office park on price and freshness, and pitch private-label blends to existing wholesale accounts.
- WO
Weaknesses + Opportunities: fix to grab
Train a second manager before the new lease is signed, so the owner is not stuck at both locations.
- ST
Strengths + Threats: defend
Lean on local roasting and regulars to stand apart from the national chain. Lock in a loyalty program before it opens.
- WT
Weaknesses + Threats: protect
Build a cash reserve before signing a lease, and buy green coffee on contract to soften price swings.
A lender cares most about the WT box. That is where the business could fail. Show you have seen the risk and have a plan for it, and the SWOT becomes proof you think like an owner, not a dreamer.
Avoid These
What Are the Most Common SWOT Analysis Mistakes?
- Mixing internal and external. "A competitor opening nearby" is a threat, not a weakness. Keep the boxes straight.
- Being vague. "Good service" and "competition" say nothing. Name the specific advantage and the specific competitor.
- Hiding weaknesses. Lenders know every business has them. An empty weakness box looks dishonest.
- Stopping at the list. A SWOT without strategy is a page of notes. Match the boxes and say what you will do.
- Not tying it to the plan. Each strategy should show up again in your marketing, operations, or financial projections.
Want the SWOT section already laid out for your industry? A business plan template is $100 and includes a Word plan plus an Excel financial model.
Energy, agriculture, advanced manufacturing and drone technology drive the North Dakota economy. A SWOT that ignores swings in oil and farm markets misses real threats. Read more on planning a business for North Dakota.
Real World Use
How a Manager Uses a SWOT Analysis
Running a SWOT before a new location pitch
Say you manage a fitness studio and the owner wants a pitch for a second location by Friday. You pull your 6 staff into a one-hour SWOT session. Sticky notes on the wall. In twenty minutes, the team writes 38 ideas.
You merge duplicates and cut the vague ones, keeping 12 and dropping 26. Each person gets 3 dot votes: 6 × 3 = 18 votes total. "Waitlist at peak hours" wins with 7 votes, or 7 ÷ 18 = 38.9% of the room.
That strength anchors the pitch: demand you cannot serve today. The top weakness, no second head coach, becomes the first hire in the plan. The owner gets a strategy, not a wall of sticky notes.
Michigan's economy still leans hard on the auto industry and its supplier base. Trades and business service plans should show how exposed they are to production cycles. The Michigan business plan writer page covers that market risk.
Keep Going
More Videos in This Series
Food Truck SWOT Analysis for a Business Plan
Dr. Paul fills in a SWOT for a food truck and explains each item. (8:42)
Box Truck Business Plan: SWOT Analysis and Startup Costs
A box truck SWOT paired with the startup costs it affects. (13:00)
Bar and Lounge SWOT Analysis for a Business Plan
How a SWOT looks for a bar and lounge, with tips on each box. (9:52)
Questions
SWOT Analysis Questions Managers Ask
What is a SWOT analysis in a business plan?
Where does the SWOT analysis go in a business plan?
How many items should be in each SWOT box?
What is the difference between a SWOT and a TOWS matrix?
How do you run a SWOT analysis with a team?
Turn your SWOT into a plan that gets read.
Dr. Paul's How to Write a Business Plan in Ten Steps shows where the SWOT fits and how it feeds every section after it, the same ten steps he uses on client plans.
Written by Dr. Paul Borosky, DBA, MBA, current college professor, business consultant, and author with 14+ years and 1,000+ businesses served.
This page is for general educational purposes only. It is not financial, investment, legal, or tax advice.