Launching a New Venture

Launching a New Venture

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
P1 Investigate and explain a new venture identifying specific target markets and undertaking
competitive analysis.....................................................................................................................3
P2 Specific tangible & intangible resources for new venture......................................................4
P3 A credible proposal to launch a new venture........................................................................5
M1 Apply a range of techniques and methods for competitive analysis to achieve competitive
advantage.....................................................................................................................................6
M2 Strength and weaknesses of new venture and analyse areas of risk.....................................7
Strength- It delivers various varieties of coffee along with the consistency of food and is
known to be the powerhouse of Michael's coffee. Strength is its place that helps to attract
young people and improves its level of sales..............................................................................7
D1 Develop a detailed proposal that demonstrate analysis and reflection of competitive
environment with supporting contingency planning to reduce risk.............................................7
TASK 2............................................................................................................................................7
P4 Assessing skills as well as capabilities in order to launch a new venture at the marketplace.
.....................................................................................................................................................7
M3 Evaluate range of skills & capabilities needed for launch of new venture and critically
evaluate how it can be develop by using appropriate techniques................................................8
D2 critically discuss supporting costs & timescales needed for acquiring or developing skills
as well as capabilities of a launch team.......................................................................................9
TASK 3............................................................................................................................................9
P5 Various promotional activities used by an entrepreneur while launching new Cafe at the
marketplace..................................................................................................................................9
P6 Develop an appropriate promotional activities plan for both launch and pre-launch..........10
M4 Evaluate an appropriate promotional plan for both launch and pre launch........................11
D3 Critically evaluate different promotional activities to support justification........................11
TASK 4..........................................................................................................................................11
P7 Monthly cash budget for the pre-launch phase.....................................................................11
M5 Justify an itemized monthly cash budget showing one off costs, opening cost and
anticipated income post and pre launch.....................................................................................14
D4 Create a pre and post launch monthly itemised cash budget based on financial resources,
including key budget a budget categories and sub categories with contingency measures for
anticipated outcomes.................................................................................................................16
P8 Applicable legal form for the venture..................................................................................17

CONCLUSION..............................................................................................................................18
REFERENCES..............................................................................................................................19

INTRODUCTION
Launching a market-based enterprise is one of the most difficult tasks as it requires a lot of
funding, market analysis as well as the capacity to interact with certain uncertainties and issues
suddenly arise (Kirkley, 2016). In addition to this, everyone and every entrepreneur needs some
kind of skills that will help them to identify customers to achieve objectives in an efficient
manner. In this report, Michael's Cafe is selected as the base organization situated in the United
Kingdom consumer market. Michael's Cafe offers high quality coffee drinks, which are available
in various flavours, as well as shakes, beverages and baked goods. This report includes
discussions on the launch of a new market project along with its directed product differentiation.
In contrast to this, there is a need for meaningful as well as intangible resources that can help
small company firms to establish themselves on the market. In addition, the different skills and
capacities of an investor would be discussed in this project. At the end of the report, the budget
also included so that the whole structure of the enterprise can be successfully executed by the
entrepreneur.
TASK 1
P1 Investigate and explain a new venture identifying specific target markets and undertaking
competitive analysis.
Michael's Café is a small café offering bakery products, food products and different flavors
of coffee, brewed drinks and much more. In addition, it also offers facilities such as cooking,
online ordering, and customized baking at the consumer's own premises.
One of Michael's cafes' goals is to provide high-quality food with great taste. The advancement
of its new idea helps bring people to the awareness of the United Kingdom
Target market- Michael's cafés offer both value and service to the client's requirements. Its
target market is young people, as it is determined that these people would prefer to absorb coffee
and spend time in cafes. This target market assists the business to meet its goals and task in an
efficient manner.
Competitive analysis- It is essential for Michael's café executives to assess their competition
and their methods, as well as helping to develop a more effective plan that includes ones views to