Business Venture: Launching a New Supermarket Chain - Desklib

Business Venture
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Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
TASK1.............................................................................................................................................3
P1 a new venture classifying specific goal markets and responsibility competitive analysis.....3
P2 Determining specific tangible and intangible resources that would be required for the
launch of a new venture...............................................................................................................5
P3 a credible proposal to launch a new venture..........................................................................6
TASK2.............................................................................................................................................7
P4 Measuring the skills and competences required to launch a new undertaking and how they
are learned or developed an individual........................................................................................7
TASK3.............................................................................................................................................8
P5 Explain different publicity activities and stations that will support the launch and justify
their choice...................................................................................................................................8
P6 Developing an suitable publicity activity plan for both launch and pre-launch.....................9
TASK4...........................................................................................................................................10
P7 Producing an itemised scheduled cash budget for the pre-launch phase of the undertaking
and the first 12–18 months previous launch..............................................................................10
P8 an appropriate legal form for the venture stating reasons why it has been chosen..............12
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................14
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INTRODUCTION
With the changing market entrepreneurship is continuously developing, if it is talk about
the current trends then entrepreneurship can be defined as innovative idea for opening a new
business venture where there is risk with high level of profit. And entrepreneurship can be
defined as opening a new business by managing the resources and bring and innovative idea for
improving the goods and services and satisfying the needs of consumer within the marketplace,
the person who bring innovative idea known as entrepreneurs. This file is considered on new
entrepreneurship venture named as "healthy limited". It is a newly formed supermarket chain
which provides nutrition diet supplements and variety of foods on its stores along with grocery
items. In this report there will be analysis of this venture (Zane and DeCarolis, 2016). In the
beginning of report there will be investigation about the target market and competitive analysis
of the venture where there is also determination of some specific and intangible resources that
would be required to launch a new venture. There will also a new proposal which show the
launching of the venture. The middle of the report is consist of, skills and capabilities which are
required by entrepreneur for launching this venture, where the activities related to promotion and
development of effective promotion plan will also discussed. Indian dog report there will be
discussion honour cash budget for pre-launch face of the venture. The discussion about the legal
requirements will also be made which is essential for opening of this business unit.
MAIN BODY
TASK1
P1 a new venture classifying specific goal markets and responsibility competitive analysis
Over the past few years, there has been a significant change in the trends and consumption
patterns when it comes to food essentials and products. An increasing awareness of health and
nutritional diet supplements has created an opportunity to open a venture of supermarket stores
which offers a variety of nutritional and diet food supplies along with other grocery items. The
proposed business venture under the name of Healthy Ltd. has the objective of establishing a
supermarket store which offers a range of nutritional supplements and organic food products
which are healthy for consumption. The vision of the venture is to make it easier for people to
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adopt healthy eating habits by increasing the access to nutritional food products. The proposed
business venture has a huge market potential by filling the gap existing between customer
requirements of healthy food products and diet supplements and what is being currently offered
in the market.
Target Market:
The target market or potential customers for the proposed business venture have a huge
spectrum to follow. It covers the need and requirements of people who are trying to shift to a
healthy food consumption routine. People aged between 16 and 60 years of age are the potential
customers of the venture. Over 30% of the youth aged between 18-35 years in Britain have
started consuming healthy food products with high nutritional contents. Along with people
looking for healthy food consumption alternatives, the products offered in the business venture
also attracts the consumer market for grocery and retail products (Villani, Linder and Grimaldi,
2018).
SWOT Analysis:
Strength: One of the major strength of the proposed business venture is that it satisfies the
existing gap between the demand of consumers for healthy food products and what is being
currently offered in the market. Wide range of nutritional food products is the biggest strength of
the proposed business venture.
Weakness: Increased costs of operations and expenditure which will be incurred in
marketing and positioning of the products and the venture leads to low profitability during the
initial period which is one of the biggest weaknesses. Low profitability might affect the ability of
the company to fight the competition in the industry from the existing firms which have the
maximum share of market.
Opportunities: Entrepreneurial idea which has been proposed in the above part of the report
has a huge opportunity to capture a considerable share of UK markets with its unique line and
range of healthy food products. The growing awareness and concern of people for healthy food
supplements is a major opportunity for the venture.
Threats: One of the major threats for the proposed business venture is the existing level of
intense competition between grocery and retail supermarkets who are leading the industry in UK
such as TESCO, Sainsbury’s etcetera. These are the big players in the industry with an existing
large customer base and market share which might be a threat for the proposed business venture.
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