Launching a New Venture

Launching a New
Venture

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Investigation and explanation of new venture identifying specific target markets and
undertaking competitive analysis................................................................................................1
P2 Determination of specific tangible and intangible resources that would be required for the
launch of new venture.................................................................................................................2
P3 A credible proposal for launch of new venture......................................................................3
TASK 2............................................................................................................................................3
P4 Assessment of skills and capabilities required for launching new venture and how they are
acquired or developed.................................................................................................................3
TASK 3............................................................................................................................................3
P5 Examination of different promotional activities and channels which will support the launch
and justification of the choice.....................................................................................................3
P6 Development of appropriate promotional activity plan for both launch and pre-launch.......3
TASK 4............................................................................................................................................4
P7 An itemised monthly cash budget for the pre-launch phase of the venture and the first 12-
18 months preceding the launch..................................................................................................4
P8 Suggestion of appropriate legal form for the venture stating why it has been chosen..........4
CONCLUSION................................................................................................................................4
REFERENCES................................................................................................................................5

INTRODUCTION
A venture is a new business which is formed with a plan and expectations that it can gain
profitability in future. When a person determines the need, it starts investing time and resources
to develop and start servicing in market with new product or service (Adomako and et.al., 2018).
In this project report investigation for new venture of cafe named as Oh so Vegan to be open in
London is done by identifying target markets with competitive analysis. Specific tangible and
intangible resources are also determined which would be required in the launch. In addition to
that assessment of skills and capabilities required for new venture and its acquisition with
examination of different promotional activities and channels which would support the launch are
discussed. Apart from this promotional activity plan for both launch and pre-launch with
itemised cash budget and appropriate legal form for the venture stating why it has been chosen
are also the focus points of report.
TASK 1
P1 Investigation and explanation of new venture identifying specific target markets and
undertaking competitive analysis.
After investigation in the market it has been identified that people now a days are getting
health conscious day by day and they do not have time to think about making healthy food due to
busy schedule (Fisher and et.al., 2017). At is why new venture of cafe named as Oh so Vegan is
going to launch in London after two months from now. The business person of the cafe have
identified that people are conscious about their healths but with lack of time they can not focus
on having healthy food. With this observation the idea of opening a cafe has came open which
would provide total vegan food to its customers. The main target audience would be the
youngsters and professionals as this people have more concern over their healths.
For undertaking the competitive analysis Porters five forces analysis can be done. While
developing business plans for new venture it important to have knowledge and assess or the
industry in which the business is going to operate. The following are the factors on which the
analysis is necessary according to this model: Competitive rivalry- The figure of companies in industry determines the competitiveness
in whole market. This also means that the Oh so vegan cafe needs to know all the
strategies which the competitors are following as it would help in making good plans for
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the new venture. The cafe and restaurant industry has high level of saturation as
companies are becoming innovative day by day and coming up with new ways. Bargaining power of suppliers- This determines the price of the products and its quality
for the final product in which the business would carry on its activities. As the venture
can have lots of suppliers from the market the power of each of them will be low as they
have great competition amongst them. Bargaining power of buyers- The demand of people for the products and services can
bring prices down. As the venture would have large number of customer base, the
bargaining power of buyers would be low for the cafe. Threats of substitutes- This element of model determines the threat of customers to
substitute the services of Oh so vegan cafe. The threat for the venture to have substitutes
is low as there are no much cafes or restaurants which provide total vegan food to its
customers.
 Threats of new entry- This factor shows the level of easiness and difficulties the firms
face while entering in such market. The barriers to entry into the industry in which the
new venture falls is not to high as the initial capital and investments required are low.
P2 Determination of specific tangible and intangible resources that would be required for the
launch of new venture.
For lunching a venture mare having knowledge about the competitive market is not
necessary, it is important that the business person also have focus over the resources which
would actually run the business (Frankenberger and Stam, 2020). There are two type of
resources: tangible and intangible. The following are the subdivisions of the both:
Tangible resources- The resources which can easily liquidated and has set values are the
tangible resources for company. The following are some resources which Oh so vegan must
focus on:
 Premises or infrastructure- For attracting people the structure and presence of
infrastructure of cafe is very important element on which person should focus on. When
the venture is new the premises can be the way which can attract people and visit the
place.
 Equipment's- The unique tools and equipment's which make the process of serving
people and save the time of cafe are necessary to have focus of cafe. The machines which
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