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Launching A New Venture Assignment - Sweet & Spicy

Investigate the range of resources required to launch a new venture and assess the skills and capabilities required.

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Added on  2020-10-22

Launching A New Venture Assignment - Sweet & Spicy

Investigate the range of resources required to launch a new venture and assess the skills and capabilities required.

   Added on 2020-10-22

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Launching A NewVenture
Launching A New Venture Assignment - Sweet & Spicy_1
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Investigation of new venture for identifying specific target market.................................1P2 Specific tangible and intangible resources that required for a new venture......................3TASK 2............................................................................................................................................3P3 Credible proposal to launch a new venture.......................................................................3P4 Skills and capabilities required to launch a new venture..................................................4TASK 3............................................................................................................................................5P5 Different promotional activities and channels for launching new venture.......................5P6 Develop an appropriate promotional activities plan for both launch and pre-launch.......6TASK 4............................................................................................................................................7P7 Monthly cash budget for the pre-launch phase.................................................................7P8 An appropriate legal form for the venture.........................................................................9CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11
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INTRODUCTIONAs per changes in technology and stability of economy, it has become easy forentrepreneurs to open their new businesses in a competitive area easily. But opening a newventure is not an easy task for a person as it requires various skills and knowledges. It will helpthem in handling operational activities and situations which occurred on the basis of growth,culture, ethics and more in an easy way (Ghimire and et. al., 2015). Entrepreneurs are needed todevelop innovative ideas as well as set achievable target so that business can be launched in anappropriate manner. In context with this, present report is based on a new bakery shop named bySweet & Spicy. Entrepreneur is going to start this business in the city of London, UK. This firmwill have produces a wide range of food items like savouries, pastries, biscuits and more. Thus,proper analyse of market conditions, expectation of customers along with tangible and intangibleresources are discussing in this report.TASK 1P1 Investigation of new venture for identifying specific target marketSweet & Spicy, is a new venture which is going to be launched soon in a populated areaof London. It will serve fresh bakery items like cakes, burgers, cookies, sandwiches, patties, ice-creams and so on. The main motive behind opening this outlet in a competitive and highlypopulated marketplace is that it becomes easy for attracting minds of people towards wide rangeof fresh eatables. It will help in delivering services and facilities to them in a profitable manner.In order to get attention of customers, this firm will have attractive interiors, table-corners, goodspace for small parties and more (Liao and et. al., 2016). Therefore, in this regard a small planfor new venture has been discussing below:- In order to open a new outlet as named by Sweet & Spicy, entrepreneur needs an area ofspace of 1500 sq.ft in London Street. This space must be available in such market area wheremany competitors are present as it will help in selling commodities in a vast manner. In additionto this, business tycoon hire this shop for three years on lease with one year advance. Forlaunching this business in a desired manner, owners have to arrange proper funds which is nearabout £ 3,50,000 to £4,00,000. Objectives:1
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