Launching A New Venture

Launching A New Venture

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Identify specific target market and undertaking competitive analysis..................................1
P2 Specific tangible and intangible resources for new venture..................................................2
P3 Credible proposal to launch a new venture............................................................................3
TASK 2............................................................................................................................................5
P4: Skills and capabilities requires to launch a new venture......................................................5
TASK 3............................................................................................................................................6
P5 Different types of promotional activities and channels for new venture...............................6
P6 Promotional activities plan for launch and pre launch ..........................................................7
TASK 4............................................................................................................................................8
P7: Monthly cash budget for pre launch phase...........................................................................8
P8 Appropriate legal form for venture........................................................................................9
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
A new venture is set up with a business plan or expectation of an investor in which they
must decide a particular country where they want to enhance profit margin. Moreover, it is
outlined as small business which is set up by an entrepreneur with small amount of funds. It is
mainly focus on requirement according to that an investor determine or small business person
with the time and resources to acquire and market the new service as well as product to introduce
a business venture (Albort-Morant and Oghazi, 2016). After overall analysis select a particular
area where entrepreneur wants to open new business venture. Present assignment based on
Muscle Curl Fitness centre which is new venture and set up in UK wit the motive of make strong
financial position. This report will discuss about the a proper business plan where involves
critical analysis, competitive environment and pan to minimising risk. Along with examine
specific target market, competitive analysis, strength & weakness of new venture, identify areas
of risk. In addition, analysis skills & abilities for new venture and justify all the promotional
activities to support to launch.
TASK 1
P1 Identify specific target market and undertaking competitive analysis
To launch new business venture require to conduct research for specific market and apply
different techniques in order to determine the target market and which factor impact on the new
venture. Such as, PESTLE or Porters use for external environment and apply changes for future
activities. Besides this, it is required for business to analysis and observe internal environment
that can help to make business more stronger. Idea about new venture in UK is discussed below:
Venture Idea
In present time most of the people become health conciseness and prefer to go gym for
fitness. The number of fitness facilities increase day by day because people become aware for
health activities. From this inspiration decided to open new venture which is “Muscle Curl
Fitness centre” which is set up in United Kingdom. In this centre provide facilities of advanced
machine and open on roof top where people enjoy nature and proper concentrate on their
gyming. Whole infrastructure would be covered with high CCTV camera so that any happening
would be removed. All the trainers well expert and polite nature that influence people for proper
fitness and help in prepare diet chart (Baucus and Mitteness, 2016).
1

Target market
It is defined a group of people whose needs and requirement would be mitigated by the
service of Muscle Curl Fitness centre. In England about 8.9 million people become part of these
fitness activities for at least 150 minute per week, of which women are somewhat more active
than men. There are about 9.7 million people member of fitness centre who wants to proper
fitness and aware for health. The gym centre is favourable for UK market due to high number of
people wants to flexibility in body. Mostly younger people target by the gym centre and also mid
age people for specific services of weightlifting, Chest press, Stepper, dumbbells and many
others.
Competitive Analysis
Manchester is famous city of UK in terms of business and economy. Each organisation
wants to set up their business operation in order to enhance profit margin at particular level.
Muscle Curl Fitness centre have high number of competitors who already conduct their business
activities at large level such as Withington Baths & Leisure centre, The gym Manchester
Portland Street, V1BE fitness dale street, North city family and fitness centre etc. So it is said
that business face many problems due to stiff competitors in the Manchester market (Davis and
Shaver, 2012).
P2 Specific tangible and intangible resources for new venture
Resources are plays important role to get success & growth in business where analysis
them for better performance. For this compare with the competitors and apply all the
modification in new business venture Muscle Curl Fitness centre as per the requirement. As a
result it helps to become market leader in particular market. There is various types of resources
which Muscle Curl Fitness centre require to increase their performance which is discussed
below:
Tangible resources
It is a kind of resources that can be acquired by the business in Physically manner means
touch those sources like machinery, building, equipment, human resource etc. To start any
business require to these types of resources to conduct business activities in new market and
proper execute new business plan. The main aim of these types of sources is to support the
products & services to modify the raw materials into finished goods that will be consumed by
2