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Business Model Canvas for New Venture

   

Added on  2020-05-11

10 Pages2494 Words119 Views
Running Head: Business Planning 1Business Model Canvas for New Venture
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Business Planning 2ContentsIntroduction......................................................................................................................................3New business venture......................................................................................................................3Pricing factor................................................................................................................................4Business model................................................................................................................................4Key partners.................................................................................................................................5Key activities................................................................................................................................6Key resources...............................................................................................................................6Value proposition.........................................................................................................................6Customer relationships.................................................................................................................7Channels.......................................................................................................................................7Customer segments......................................................................................................................7Cost structure...............................................................................................................................8Revenue streams..........................................................................................................................9Conclusion.......................................................................................................................................9References......................................................................................................................................10List of figuresFigure 1: Business model canvas.....................................................................................................4Figure 2: Key activities....................................................................................................................6Figure 3: Customer segments..........................................................................................................8
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Business Planning 3Introduction Entrepreneurship is crucial for starting a new business venture in the market. Today, entrepreneurs are focusing on starting the business at the global level for getting more and more profit. Entrepreneurs develop and generate new ideas for the business venture at global level. There is well known that the idea of business is the starting of the business procedures. A new business idea is helpful the entrepreneurs to discover various chances and capability to start up the new venture beneficially (Dudin, 2015). So, this report focuses on the new business idea for the new venture in the market. The report is focused on the new business venture of a café along with the effective business model. New business start-up is based on the business model canvas which is very effective for the success of business venture. Basically, this report is all about running a new and creative coffee shop and meets the needs and requirements of the customers in the Australian market. Objective of this report is to understand the role of business model canvas based on the analysis of market information and essential aspects (Toor & Dhir, 2011). New business venture This report describes a new business venture i.e. a café. Name of this café would be Culture Coffee Bar. There are many coffee shops in Australia but the current coffee shops only meet the basic demand of the customers i.e. demand for the coffee and various drinks. In other words, consumers generally go to the coffee shops as they do not have time to prepare coffee. In many shops, there are no specialists for retaining the consumers. Their sets of choices are simple including fundamental food items such as packed drinks and refreshments and iced coffee. Somecoffee shops try to improve the effective image by providing some additional services such as live music and games but they are not enough to improve the image and to retain the customers. So, by analyzing the enormous demand of the customers in the market, Culture Coffee would spend huge amount of capital in creating positive image of the café. For this manner, company would focus on creating relaxing atmosphere for the customers along with the core products of food, beverages and other services. Because of the value of time in the current time, the café would offer the service of free delivery of the products so that the consumers can enjoy the products in office timings also. By this service, café would be able to maximize its ability to diversify itself among the customers in the coffee market.
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