Launching a New Venture

This document provides a detailed proposal and analysis for launching a new venture, specifically a healthy food shop in Manchester. It covers topics such as target markets, competitive analysis, resources, skills, capabilities, promotional activities, and budgeting.

Launching a New Venture

Contents
INTRODUCTION...........................................................................................................................4
TASK 1............................................................................................................................................4
P1 Explain new venture and identify specific target markets and undertake competitive
analysis...................................................................................................................................4
P2 Tangible and intangible resources which required by chosen company for launching new
venture....................................................................................................................................5
P3 Produce a credible proposal to launch a new venture.......................................................5
M2 Discuss the strengths and weaknesses of the new venture and determine areas of risk.. 7
D1 Develop a detailed proposal that demonstrates critical analysis and reflection of the
competitive environment with supporting contingency planning to minimise risk...............7
TASK 2............................................................................................................................................8
P4 Skills and capabilities required to launch a new venture and how they are acquired or
developed................................................................................................................................8
M3 Range of skills and capabilities required for the launch and a critical assessment of how
might they be acquired...........................................................................................................9
D2 Critically discuss supporting costs and timescales required for developing skills of a
launch team.............................................................................................................................9
TASK 3............................................................................................................................................9
P5 Explain different promotional activities and channels that will support the launch and
justify their choice..................................................................................................................9
P6 Develop an appropriate promotional activities plan for both launch and pre-launch.....10
M4 Evaluate an appropriate promotional activities plan for both launch and pre-launch.. .12
D3 Critically evaluate the different promotional activities to support justifications...........12
TASK 4..........................................................................................................................................13
P7 Produce an itemised monthly cash budget for pre-launch phase of the venture and first 12-
18 months preceding launch of venture................................................................................13
P8 Suggest an appropriate legal form for the venture stating why it has been chosen........17
CONCLUSION..............................................................................................................................19
REFERENCES..............................................................................................................................20

INTRODUCTION
Launching a new business is defined as a process which requires conducting of proper
market analysis in order to know whether the new business will sustain in market or not. Several
entrepreneurs small or big start from opening a new shop or restaurant in market. The present
business venture is healthy food shop. This shop is opened in Manchester and there is
requirement of grabbing customer attention in order to increase the market share. In the
following report, there is explanation about target market and competitive analysis of this new
business. There is information regarding both tangible and intangible resources which are used in
this venture and there is introduction about assessing of various skills and capabilities for new
business venture. there are various promotional activities for the new shop which are explained
in this file.
TASK 1
P1 Explain new venture and identify specific target markets and undertake competitive analysis
A new healthy shop in Manchester is the business idea for an entrepreneur. This will be an
effective business venture as there are various opportunities in the food industry nowadays.
Healthy shop will be providing fat free and less oily food and other items to people. As people
are more prone towards eating healthy diet and food, this shop is opened. There will be e a
soothing music provided in the premises of his shop which will help in relaxing the customers.
There are various factors which are associated with an effective market research and these are
explained below –
 Identify target market - this is known as various potential customers which are required in
order to increase sales and profit of this new healthy shop. The target market for this shop
is people who are more health conscious and need of balanced diet.
 Competitive analysis - it is known as the development of various strategies and plants
that are helpful for conducting a successful business in market. This healthy shop has to
analyse the market and evaluate what are the strategies used by competitors in order to
sustain in market for longer period. There is used for competition in the food and
restaurant industry, so this shop owner will have to to apply strong marketing strategies
to gain interest of customers.

P2 Tangible and intangible resources which required by chosen company for launching new
venture
Resources are the most important factor which are required in managing a successful
business venture. There are basically two types of resources that are tangible and intangible
resources. In context of this healthy shop, tangible resources are our customers and clients of the
new shop. Intangible resources are those which do not have any physical presence and these
include having a trademark or copyright or patent right. The resources are required by the heathy
shop to do good business in effective manner within market. A good business venture is one
which is using the resources properly. There is managing of proper work within the new healthy
shop and customers will be provided with standard and quality food items. These resources in
reference to the new healthy shop are explained below-
 Intangible resources are the asset or resources that do not have any physical presence or
form. The healthy shop must be having any trademark, patent right, franchise rights,
copyrights in order to conduct business in market. Resources in this shop include
providing good and pleasant surroundings to people, providing standard food, live music
 Tangible resources are the assets which are present in physical manner. This consists of
having a good infrastructure, machinery, land, furniture. In reference to the healthy shop,
a good ambience and architecture of shop is required for attracting the customers.
M1 apply methods and techniques for competitive advantage and achieving competitive
advantage
The method which can be used by healthy shop is to provide attractive offers to customers. This
shop is able to manage the competitive advantage within market by offering the food items with
diet coke and other juices. In this way, customers will be attracted towards buying the product of
this shop. This is the best way for attracting customers.
P3 Produce a credible proposal to launch a new venture
When an individual’s decided to initiate a new venture then it has to perform appropriate
market analysis and evaluation as it assists them into determining its target customers and
marketplace, thereafter plan its product or services effectually ( Burns2017). In case firm
perform research then it results will be pessimistic as well as they can attain several opportunities
for grabbing the attention of consumers and investors. So, this is crucial for new healthy shop to

perform market analysis and evaluation before entering into market as it helps them to attain
objectives. Respective firm design proposal to launch its new venture that is discussed below:
Executive Summary New healthy shop is going to launch in Manchester that provides
fat free and less oily food and other items to people. the topics
which is covered into respective report is target market
evaluation, competitive analysis and resources selected for
healthy shop. Also, capabilities and skills, promotional activities
and budget of respective company. All these help them to attract
more number of customers.
Company Description New Healthy Shop is a new firm that is going to launch in
Manchester. It provides fat free and less oily food and other
items to public. It is plan to establish as now a days people are
more prone towards eating healthy diet and food, this shop is
opened. Also, a soothing music provided in the premises of his
shop which will help in relaxing the customers.
Market Analysis New healthy Shop performs market analysis by which it can
determine their potential consumers and marketplace.
Thereafter, develop strategies as per that that assists them to
increase its profit. The respective venture performs SWOT and
PESTEL analysis effectually. The main principle for performing
market analysis is to get knowledge about market, clients and
strategies consequently that help them to grab the attention of
various consumers effectively.
Marketing Strategy New Healthy Shop frames its whole business plan by
performing marketing strategy. So that it can bale to understand
its whole aspects from customer identification to performing
marketing and business. Through developing marketing strategy
respective firm can become capable to build effectual plans to
attract clients, perform promotion and advertisements.
Financial Status Determining financial position of firm is essential for

introducing a new business into country. New Healthy Shop
perform financial analysis of its business before introducing in
Manchester for this it assess several aspects like financial
viability and position. New healthy Shop needs about £100,000
funds.
M2 Discuss the strengths and weaknesses of the new venture and determine areas of risk.
As new venture is launching into a market of Manchester so it has some strengths as well
as weaknesses which are discussed below:
Strengths: As new venture named as New Health shop which comes under food industry
so it is its main strength as it provides them various opportunities to develop its business.
Moreover, in its business they facilitates fat free and less oily food and other items to people so,
this attract more number of individuals who are generally conscious about their health and
generally prefer healthy diet. This enhances their sales as well as maximise the profitability. In
addition to this, this will be also helpful in sustaining for longer period into marketplace of
Manchester.
Weaknesses: The main weakness of a new venture is it’s have various number of
competitors as more entrepreneurs are very much focused towards the food sector while
launching any business. Moreover, they are to invest more funds as they have to buy some
tangible an intangible resources. In addition to this, also they have to invest into research and
development in more effective and efficient way. As it is a small newly open venture so it cannot
able to do more investment.
Therefore, some of the risk that is determined is competitive environment, substantial
strategy risk and other. In addition this, there are various more risk like market risk as the trends
are changing competitively. Also, more number of competitors are there into food industry
market which will be threat for a New healthy Shop.
D1 Develop a detailed proposal that demonstrates critical analysis and reflection of the
competitive environment with supporting contingency planning to minimise risk.
Competitive environment is considered as the dynamic external system where a business
competes as well as operates. So, in Manchester there are various opportunities into food

industry which will somehow risk for new firm as they have to tackle with various large
competitors who are already operate their for a longer period. As new Heathy Shop is going to
launch into Manchester market so they have to face various risk for minimising those risk they
are to develop a contingency plan. For instance, they have to perform the market research as well
as analysis in more effective and efficient way. As it helps them to get knowledge about the
marketplace in which they are operating and also the people interest related to healthy food.
TASK 2
P4 Skills and capabilities required to launch a new venture and how they are acquired or
developed
In order to launch a new venture, there are many skills as well as capabilities that are
required. One of the skills that is required is knowledge of sales as well as latest trends in the
market like digital marketing and other tools (Géraudel, Gast and Gundolf, 2017). This is
because digital marketing has become an important component for companies as it helps in
creating awareness about the venture among customers. It is also important to have effective
accounting and budgeting skills because if the owner of the business will not have effective
knowledge about managing money, the business will not be able to run smoothly (How to Start a
Business: 6 Skills Every Entrepreneur Needs to Know, 2020). It is extremely important to build
credibility in a start-up venture because it is the judgement that customers make about if the
company is trust worthy when it talks about its products. It is also important because companies
that can be trusted by their customers are likely to build a sustainable relationship with their
customers. The owner of a start up business can also implement the concept of Bootstrapping,
which means making use of sources of skills and resources that involve low cost in order to carry
out business operations effectively.
Lean start up can be defined as a methodology for developing businesses as well as
products that are primarily aimed towards shortening the overall product development cycle
within a company. It is a useful methodology because it can help a new venture in launching the
products that are actually required by the customers, in a quick and cheap manner as compared to
the traditional methods. Apart from this, the lean start-up method also makes new ventures less
risky and thus, more successful. There are five principles of lean start up that include

entrepreneurship is management, validated learning, innovation accounting etc. These skills can
be acquired through various ways, wherein networks play an important role (Kuratko and
Hornsby, 2017). Networks are extremely helpful for a new start up venture. This is because they
can act as a source of social capital and can act as an access to knowledge, resources as well as
opportunities. Therefore, it is also important to consider both formal as well as informal
networks. Formal networks comprise of different centralized and decentralized channels.
Personal networks also play an important role when a person decides to launch a new venture.
This is because they can help in promoting the venture and creating awareness about the same
among people. This will lead to a greater number of customers visiting the respective venture,
i.e., Healthy Gains.
M3 Range of skills and capabilities required for the launch and a critical assessment of how
might they be acquired
There are various skills and capabilities that are required for the launch of a new start up.
These skills can include effective accounting and budgeting skills because it is important to keep
a track of the expenses as well as budget within the business. Also, building a credibility in a
start-up business can also be helpful during the launch. The owner of the start-up business should
be able to identify and address the different risks that are associated with setting up the business.
These skills can be developed through experience and related qualifications.
D2 Critically discuss supporting costs and timescales required for developing skills of a launch
team
In order to acquire the skills, there can be varied timescales for the launch of a team in a
start up business. Supporting costs can be defined as the costs that are not directly associated
with the finished products of the company. These can include the rent of the start-up space,
insurance related to production of products, supplies and depreciation of equipment. These
supporting costs as well as timescales associated with the same will help in effectively launching
a team in the respective business, Healthy Gains.

TASK 3
P5 Explain different promotional activities and channels that will support the launch and justify
their choice
Marketing mix is a model that is basically used in order to consider the different elements
that are a part of the overall process of promoting a brand as well as its products in the market
(Liu and Wang, 2018). It is important because it helps in understanding what can the products of
a company offer to its customers. The marketing mix for Healthy Gains is described below –
Product – The respective start up venture offers ready to eat healthy snacks to its
customers. The sacks are cholesterol free and not fried, rather baked.
Price - The company offers all its products at very affordable and pocket friendly rates.
This has helped it in attracting people who are health and weight conscious. Pricing strategy is
extremely important for a new venture because it can help it in attracting a greater number of
potential customers.
Place – The products are available at various retail stores and are also sold through the
company’s official website wherein offers and discounts are offered.
Promotion – Healthy Gains uses different promotional techniques like social media and
word of mouth. It also promotes the products through pamphlets and various promotional offers.
Respective company uses various promotional techniques that are cost effective and help
it in attracting a greater number of customers (McGee and Peterson, 2019). The techniques
include blogs, various social media platforms like Twitter, Instagram etc. Healthy Gains also
uses video clips, image captions as well as virtual tours. These techniques will help in increasing
awareness about the same as well as will also be helpful during the launch. The owner of the
venture has also decided to develop an online website that will contain all the necessary
information about it as well as the different offers and discounts that are offered by it. The
website will contain various e-commerce capabilities like a virtual shopping cart and an option of
online payment that is safe and secure. These promotional activities are chosen for the launch of
the new venture because they will not only help in generating awareness but also create
excitement among the customers to try its products. This way, they will be more engaged with
the brand and start communicating with it by posting their reviews in the comments section.
Video clips will act as an engaging component and generate interest among them (Mullins,

2017). This can also contribute to an increase in the overall sales as well as profitability of the
venture in the future.
P6 Develop an appropriate promotional activities plan for both launch and pre-launch
Promotion is crucial part of organisation and it is very important for Health gains company
to consider effective and efficient promotional activities. Through these activities respective
company will be able to provide information regarding products and offering of company to
market area and potential customers (Kuratko and Hornsby, 2017). Promotional activities
consider of different types of practise which is well organized by company to create awareness in
market area regarding company offerings. Health gains organisation needs to consider both pre
launch and launch promotional activities so that large number of customers is attracted towards
organisation and increase is sales of business. Health gains organisation is promoting its products
and services as health and tasty products. This company is positioning its offering as high quality
and healthy food which is right for body fitness and enhancing health. Pre launch promotion and
lauch promotion is mention below -
Pre launch promotion – This can be describe as promotional activities which is developed
for promoting product or service which company is offering soon in market area. there are
different types of pre launch promotional practices which will be conducted by Health gains
organisation and increase excitement in market area regarding offering of company. Building buzz with social media – This is cost effective promotional method that is
consider by Health gains organisation to inform customer about offering of products and
services. By creating buzz on social media through attractive and creative image and
videos will helps in influencing customer towards products and services of respective
company.
 Influential bloggers – This promotional techniques refer as writing creative and unique
content regarding products or services of Health gains company along with different
benefits that could be gain by organisation (von Briel, Davidsson and Recker, 2018).
Influential blogs of different digital media platform will help in informing customer about
company offerings.
Launch promotion – This type of promotion practice refer as information customer as well
as attracting them to purchase products or services that is offered by company. It is important for

Health gains company to create effective launch promotional practices so that large number of
customers are influenced towards respective organisation. Discount offer on website – While launching products or services Health gains
organisation should offer different discount on its official website (Ojala, Evers and
Rialp, 2018). Through this promotional activities traffic on website will increase as well
as customer will be able to gain information regarding different product or services of
new venture.
 Secure online payment – Online payment is very effective promotional tools as this will
support customer in easy and safe payment methods. This promotional method will
attract customer as well as develop trust from customers.
The pros and cons of trademark registration
Trademark registration have different pros for business such as it will support in reaching to
new market area as well as building reputation of company. This is also consider as the effective
mitigation tool for business. It cons includes that it compromise with the quality of offerings.
M4 Evaluate an appropriate promotional activities plan for both launch and pre-launch.
Promotional activities plan consider of different activities and action plan that will
support in conducting both pre launch as well as launch promotional activities in more
significant and effective manner. Appropriate promotional activities plan is mention below –
 Set objective – It is important for respective company to develop objective according to
which each and every function of marketing needs to be performed. The objective of this
promotional activities is to increase awareness about new products and services of
respective company Develop promotional message – Promotional message for pre launch and launch
promotional activities of respective company is Health gains company products offer
high quality and tasty products which is beneficial for health of consumers.
 Analyse budgets – It is important to determine the actual budget plan in order to
determine the actual cost that will be required by business for performing organisational
task.
 Marketing campaign – This includes set of activities or tool which is consider by
respective company for performing marketing or promotional operations.

D3 Critically evaluate the different promotional activities to support justifications.
Different promotional activities includes personal selling, advertising, sales promotion,
social media and so on. All of these promotional activities will lead to assist in provding
information to customer about the offering of products.
 Social media – This is cost effective and less time consuming promotional activity and in
this respective company will be able to provide information to large customer base.
 Personal selling – This promotional activity is important as it will lead to develop strong
relationship and bound with its customers.
TASK 4
P7 Produce an itemised monthly cash budget for pre-launch phase of the venture and first 12-18
months preceding launch of venture
Cash budget calculation will help the new business venture to do proper work and manage
the functioning in proper manner. In context of the healthy shop, the cash budget for 12 months
is made so that it is easy to track position of company within market. The following budget
explains that the new business venture i.e. healthy shop is going to make money and profits. As
the liquidity is apt, this business will be able to do good in sales. According to the outlay and
liquidity, it is seen that this is a good option for them to establish business. Cash budget of both
the situation such as pre launch and post launch is compared then decision seems to be
appropriate.
Pre launch cash budget
Cash Flow budget
Particulars Jan Feb Mar Apr May June July
Cash inflows
Investment 10000
Credit sales 3000 3000 3000 4500 1500 3500 4200
Total inflows 13000 3000 3000 4500 1500 3500 4200

Cash outflows
Fixed : Equipment’s 2000 2500 1500 2000 1200 1500 800
Variable : Direct material 500 300 400 300 150 500 300
Total outflows 2500 2800 1900 2300 1350 2000 1100
Net cash flow 10500 200 1100 2200 150 1500 3100
Opening balance 0 7700 7900 9200 11400 11500 13000
closing balance 7700 7900 9000 11400 11550 13000 16100
Legal Structure -
The type of business organised in context of Healthy shop in Manchester are mentioned
below -
 Partnership: It is the type of business in which there are two or more organisations
which come together and start a new business.
 Sole Proprietorship: This is defined as the way of managing the sole trade and
individual entrepreneurship.
Legal structure that is followed in Healthy shop is Sole Proprietorship.
P8 Suggest an appropriate legal form for the venture stating why it has been chosen
When an individual decided to introduce a new firm the most essential decision is what
kind of legal structure, it is considering. This is also called business form or ownership structure.
Also, the New healthy Shop has to decide which type of form they utilise (Kariv2013). So, some
legalised forms are discussed below:
 Sole proprietorship: Within respective form, an individual initiate its business with
limited resources as well as investment. It is usually accountable for operating the
business practices and function in smoother way through taking risks in order to attain
large profit. A person focused upon managing as well as maintaining whole business in

effective manner. Moreover, this is considered as a common form which is utilised by
individuals in case of developing business into larger market area.
 Partnership: Within this, there are two or more individuals who came together in order
to launch new business as well as regulate its practices in effective way. It may carry out
several resources which involve techniques, procedures, capital, equipments and others
which assists into developing business in appropriate way. Herein, whole partners share
its profitability and loss in equal manner.
 Public limited company: This is considered as firm that performs as well as regulate
through government bodies of country. Within this, the shares are hold through singular
individuals and this includes private or public firm which are totally distinguish in nature.
A firm is operated and regulated through private ownership as well as authorised are
based upon business entities.
 Community interest companies (CIC): the community interest companies are relatively
new kind of firm that have set up through the companies act, 2013. This is developed for
facilitating effectual legal form for an entity which main intent is to provide benefits to
the society as well as their major intent is to obtain profitability (Scarborough, 2016).
Thus, this has been suggested that New Healthy Shop required to undertake sole proprietary
form as only one person are accountable for managing as well as maintaining whole business in
effective manner. Moreover, in this solely owner is answerable for the venture’s profitability as
well as loss.
M5 Justify an itemised monthly cash budget showing one off costs, ongoing costs and
anticipated income postand pre-launch.
August Septem
ber
October Novemb
er
Decembe
r
Jan Feb
1000 2000 800 1200 1500 2600 3000
1000 2000 800 1200 1500 2600 3000
200 300 100 600 300 2000 2500
400 500 100 100 400 300 300

600 800 200 700 700 2300 2800
400 1200 600 500 800 300 200
16100 16500 17700 18300 18800 19600 20900
16500 17700 18300 18800 19600 19900 21100
Mar Apr May June July
3000 4500 1500 4500 7200
5000 4500 1500 3500 4200
1500 2000 1200 1500 800
200 300 150 500 300
1700 2300 1350 2000 1100
3300 2200 150 1500 3100
21100 22400 24600 24750 16250
24400 24600 24750 26250 19350
Post launch cash budget
Particulars Jan Feb Mar Apr May June July
Cash inflows
Investment 11000
Credit sales 1200 2000 8500 3000 5000 6500 1200
Total inflows 12200 2000 8500 3000 5000 6500 1200
Cash outflows

Fixed : Equipment’s 2500 1000 1500 2000 2100 1600 1300
Variable : Direct material 3500 300 250 100 100 500 100
Total outflows 6000 1300 1750 2100 2200 2100 1400
Net cash flow 6200 700 6750 900 2800 4400 -200
Opening balance 0 6350 5850 11600 1195
0
15750 20250
closing balance 6350 5650 12600 12500 1475
0
20150 20050
D4 Create a pre- and post-launch monthly itemised cash budget
Augu
st
Septe
mber
Octob
er
Novem
ber
Dece
mber
Jan Feb Mar
3200 2500 8200 1250 3210 1200 5000 2500
3200 2500 8200 1250 3210 1200 5000 2500
600 600 500 3000 500 6000 2500 1500
150 450 450 1500 500 3000 300 200
750 1050 950 4500 1000 9000 2800 1700
2450 1450 7250 -3250 2210 -7800 2200 800
19750 22100 22650 30100 28850 30860 32160 32360

22200 23550 29900 26850 31060 23060 34360 33160
Apr May June July
4500 3500 3500 4200
4500 1500 3500 4200
2000 2500 3000 400
250 360 250 700
2250 2860 3250 1100
2250 -1360 250 3100
33660 35860 36010 37510
35910 34500 36260 40610

CONCLUSION
From the above report, it can be concluded that a new venture can come across various
challenges when it is being established. Also, there are various tangible as well as intangible
resources that are required for launching a new venture in the market. This can include IT
facilities, equipment, premises, skills as well as capabilities. Apart from this, there are various
skills and capabilities that are required by an individual to launch a new venture like
bootstrapping, identifying and addressing various risks etc. These skills can help the venture in
making sure that the venture is successful and profitable. Lastly, there are different promotional
activities that can be adopted that can support the overall launch of the venture. A budget also
plays an important role in making sure that business activities are carried out smoothly.

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