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Venture Development Proposal : Assignment

   

Added on  2020-10-05

13 Pages3696 Words463 Views
INDIVIDUAL VENTUREDEVELOPMENTPROPOSAL

Table of ContentsINTRODUCTION...........................................................................................................................1Opportunity Formation................................................................................................................1Business Plan/ Opportunity development...................................................................................4CONCLUSION ...............................................................................................................................9.........................................................................................................................................................9REFERENCES..............................................................................................................................10

INTRODUCTIONThere are several types of venture that is well established in the competitive market andis engaged in various sectors with the main objective of earning maximum profits. In order toestablish new venture it is important to adopt some effective skills, knowledge and attitude that iscrucial to run the business operation smoothly. Business environment for the new venture isquite complex that creates many difficulties and challenges for an entrepreneur. There is need ofidentification of specific target market and competitive analysis before starting any new venture.It all depends on the individual as well as market needs who motivate an entrepreneur to enterinto market with an appropriate plans and strategies. Before launching any new venture, it isessential to explore the opportunities so that proper decision can be taken and implemented whiletaking decision. This report mainly focuses upon the new venture that is Royal Bakery, that serves varietyof bakery items that includes bread, bun, brownie, pastry, pie, custard and cookies etc. The ideaof this main new venture is to serve unique bakery item with good quality and taste in variousregions. Nowadays bakery items are famous among the kids and teenagers and majority of themare attracted towards bakery shops to consume variety of bakery products. There manytypologies that is followed by new ventures like revolutionary venture, niche venture, hustleventure and speculative venture(Talebi, 2011).Conducting and establishing any bakery shop is considered as venture that requiresradical concept to establish well in the market along with uniqueness in quality and taste of thebakery products. The products and services that is served by the royal are unique and different intaste. In this report a brief description about the entrepreneurial services, bakery shop processalong with the business plan and opportunity development is discussed.Opportunity FormationRoyal bakery shop is new business venture that is decided to launch in London market. Ithas offered variety of delicious bakery items of various number of countries with a specific aimto attract maximum number of customers. The main preferred location of starting a new ventureof bakery in London is mainly due to having high number of tourists and crowd. This willdirectly help in increasing the sales revenue along with more success. Through proper research,it is analysed that most of the customers prefer to visit those bakery shops that serves variety of1

unique bakery items of different nations. Therefore, it becomes a great idea to serve bakery itemsof multiple numbers of countries in the London market.An entrepreneur usually works in partnership to establish their new venture. Royalbakery is incorporated in the London with the capital of £300,000. It has around six competentshareholders each has invested £50,000. Royal bakery is equally owned and controlled by all thesix partners. As partners, they represent sales, finance, administration and managementrespectively. The partners also provides some funds from their own saving that cover start-upexpenses and provide a financial support. Unique ideas of each partner will help the bakery shopto achieve growth and success within a shorter period of time. Royal bakery has acquired around1500 square feet at the centre of London on lease with an objective of continuing the businesswithout facing any issues and difficulties. As the bakery shop is formed in partnership thus caneasily avail the funds from their different sources such as own capital along with variousfinancial institutions which is around £300000.Objectives To serve customers good quality of bakery items of multiple nations To earn maximum benefits To maximise level of satisfaction of customers To become best and famous bakery shop worldwideMissionThe mission is to “serve local resident and communities by preparing baked goods ofexceptional quality along with the competitive prices in order to meet the demand of the low-tomiddle-to high-income”VisionTo become best bakery worldwide by creating an exceptional product and customerservice experiences to new and loyal customers.Target Market Customers including kids, teenagers and youngster are the main target whose demandsand preferences decides the success and growth of the business, therefore it is important forentrepreneurs to identify the market and analyse the market conditions carefully so that furtheractions and plans should be formulated. Changing in taste and preferences of customers mayaffect the success of bakery shop therefore required to consider such changes on regular basis so2

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