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Project on Launching a New Venture : Kaleidoscope Coffee Bar

   

Added on  2020-06-06

15 Pages5530 Words75 Views
LANUCHING A NEWVENTURE

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 A new venture identifying specific target markets and competitive analysis........................1P2 Specific tangible and intangible resources that required for a new venture..........................2TASK 2............................................................................................................................................3P3 Produce a credible proposal to launch a new venture............................................................3P4 Skills and capabilities required to launch a new venture.......................................................4TASK 3............................................................................................................................................6P5 Different promotional activities and channels for launching new venture............................6P6 Develop an appropriate promotional activities plan for both launch and pre-launch............7TASK 4............................................................................................................................................7P7 Monthly cash budget for the pre-launch phase......................................................................7P8 An appropriate legal form for the venture...........................................................................10CONCLUSION..............................................................................................................................10REFERENCES .............................................................................................................................12

INTRODUCTIONBeginning up a new business unit among highly competitive market locations and havingrapid changes is full of various issues and challenges. At time of imposing or launching a newerbusiness entity, as entrepreneur is having different kinds of threat and issues which all arerelated with culture, growth and competition with larger or bigger organisations (Baron andTang, 2011). the prominent purpose of this report project is to enquire the range of resourcesthat are essential for launching a new business enterprise, analysing and evaluating capabilitiesalong with skills which is needed to be developed. The researcher or entrepreneur has build upthe plan of framing a new restaurant and a coffee stop form a higher business plan witheffective quality. In order to build up, it will impose and justify different types of promotionsalong with legal budget. TASK 1P1 A new venture identifying specific target markets and competitive analysis.Kaleidoscope coffee bar is launched to facilitates their services to the working individualand other different persons, hence it will be a a dream and a location which is able to providerelief form everyday stress of facing struggle and audiences will be able to feel comfortable withtheir friends and loved ones, read novel, spend some more time beautifully and so on. Determining the enhanced interest of the audiences in UK with an organisation, isbasically a cause of the idea of opening the new cafe in their Manchester streets which is locatedin the United Kingdom itself (Bijker and et. al., 2012). This cafe facilitates their buyers oraudiences the best brewed along with prominent quality, prepared coffee other side with it theyalso serves different services such as pastries, tea, bakery product and many ,more. Entrepreneur has beginning up their new business venture, hence the started entity isnamed as”Kaleidoscope coffee bar” located in the UK. The firm will regulate and conduct theiroperation of coffee bar in around 2400 square feet in the Manchester street , UK. The owner ofcompany or cafe has supposed to broaden their hired locations on lease for approx. 4 years withan option of extending time duration. For they have framed a out lay of entire funds which willbe spent; that is determined as £ 3,580,684 to £3,62,684 in a new set of unit or business. Objectives: Here are one year business aim or goal mentioned, which is as follows- To get nominated for “Best Emerging Coffee Bar in UK” by the domestic state. 1

Arrange approx. 75 percent growth as margin .Converts in profit form the vert first month of operational practises. Mission: The mission of the firm is to create best efforts in respect to develop the different andunique positioning among their customers along with they tries to make their cafe mostcomfortable and relaxing place to citizen of UK and enjoyed the quality and strongly brewedcoffee.Target market: target area is major thing for each and every firm hence it is required todetermine target market with in the firm which can help them to getting final result in veryeffective manner. Concentrated market refers to the specific group of persons that a businessfirm is aiming at. There are different divisions of market and accordingly consumers are targeted.The core aim of coffee bar is sophisticated family persons and teenagers along with adults and soon. In accordance to the earning categories, the coffee bar has concentrated over the middle classpersons to various other earning categories (Kariv 2013). Competitive Analysis: The prominent competitor of Kaleidoscope coffee bar is known asStarbucks that is competing every small firm of coffee with in the location of United Kingdom.Starbucks is having a effective financial conditions that help is utilising the number of singlespot with coffee and beverage retailers (Burns, 2017). it is major competition cause it is havingeffective brand value and they are capturing more buyers that shows quality at effective cost andexcellences with the help of it they enjoy a controlling and powerful position in entire market. P2 Specific tangible and intangible resources that required for a new venture.In order to start up a new venture it is required to have effective and sufficient resourcesthrough it they can be able to manage and maintain their business practises. Kaleidoscope coffeebar is one of the famous and best coffee bar in the entire UK. This cafe is facilitating several kindof product like different types of coffee and varieties of food so that higher numbers ofconsumers will be attracted towards this cafe. Hence resources are very signifying thing which isimportant for making and manufacturing the certain product or coffee. There are two kinds ofresources that can be determine for Kaleidoscope cafe as they will support in order to maintain it,for an example two resource, it is detailed as- Tangible Resources: it is detailed that these all resources basically undertakes differentkinds of elements which are; equipments, physically plant, raw material and so on. Each andevery organisation are concentrating on all visible area which can be using the direct financial2

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