Launching a New Enterprise : Report
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Added on 2020-07-23
Launching a New Enterprise : Report
Added on 2020-07-23
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Launching A NewVenture
Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................3P1 A new venture identifying specific target markets and undertaking competitive analysis....3P2 Specific tangible and intangible resources.............................................................................4TASK 2............................................................................................................................................5P3 A credible proposal to launch a new venture.........................................................................5P4 Skills and capabilities required to launch a new venture.......................................................6TASK 3............................................................................................................................................7P5 Different promotional activities and channels to support the launch...................................7P6 Appropriate promotional activities plan for both launch and pre-launch..............................8TASK 4............................................................................................................................................9P7 Itemised monthly cash budget for the pre-launch phase........................................................9P8 An appropriate legal form for the venture...........................................................................11CONCLUSION..............................................................................................................................12REFERENCES................................................................................................................................1
INTRODUCTIONStarting a new business venture among the increased market competition and rapidchange is fraught with various problems and challenges. While implementing or launching a newbusiness venture, an entrepreneur faces various menaces and issues related with growth, cultureand competition with larger organisation (Baron and Tang, 2011). The purpose of this report is toinvestigate the resource range needed for launching a new enterprise, analysing the capabilitiesand skills which is acquired to be developed. The researcher has developed the plan of forming anew restaurants and coffee stop from a high business plan with better quality. In order todevelop, it will imply and justify numerous means of promotion along with legal budge andform. TASK 1P1 A new venture identifying specific target markets and undertaking competitive analysisKaleidoscope coffee bar is set to provide their services to the working people and otheraudiences a dream, a place to relief everyday stress of struggling life, be comfortable withfriends, read novel, spend some beautiful time etc. Understanding the increasing interest ofUnited Kingdom people within the organisation, enterprise has planned open a new cafe in theManchester streets (Bijker and et. al., 2012). This cafe offer their consumer the best brewed andprepared coffee along with other services such as tea, pastries, bakery products etc. Entrepreneur has started their new coffee cafe venture, named as Kaleidoscope. Theorganisation will generate or operate coffee bar in 2300 square foot in the Manchester streets Thecompany owner has extended their hired the place on lease for 3 year with an option ofextending time. the funds which is determined is £ 3,50,684 to £3,52,684 in a new start-upbusiness.Objectives: Here are one year operations objectives mentioned here: To be nominated for “best emerging Coffee Bar in UK” by the local state.Turn in benefits from the initial month activities. Manage approximate 65% of growth as margin. Mission: The mission of organisation is to make best efforts in order to build the uniquepositioning among clients along with creating the cafe a relaxing and comfortable place tosocialise and enjoy the best brewed coffee. 3
Target market: For the purpose of reaching the focused group of consumer, this isrequired to set a target market within the company that can help in reaching final outcome ineffective manner. Target market refer to the certain group or criteria of individuals that abusiness venture or organisation is aiming at. There are various segments of market accordingwhich the consumer are set. The major aims of Kaleidoscope is sophisticated teenagers adults,family person etc. According to the income categories, Kaleidoscope has focused over themiddle class people to different other income categories. This cafe is also aiming over Mediumincome and spender, healthy-ish professional and flexible to change people as this coffee cafe isoffering their own designed recipes and products to deliver new to consumer. Young studentsand workers are also the demographic segment which have been targetted by Kaleidoscope set toattain or reach more and more buyers and services user. Competitive Analysis: The major competitor of Kaleidoscope is Starbucks which iscompeting each and very small business of Coffee within the market of United Kingdom.Starbucks is rendering a strong financial conditions which help in using a number one spot withbeverages and coffee retailer (Burns, 2017). Intangible Starbucks of strengths contains brandvirtue and great mind recall consumers which shows quality at affordable cost and excellencethrough that they enjoy a dominant position in whole market. In order to compete this,Kaleidoscope need to establish a better USP of organisation among the competitive market. P2 Specific tangible and intangible resourcesKaleidoscope is best coffee tasting and restaurant portion in the local area of UnitedKingdom. It can be met through opting ingredients of high quality along with strictly complyingthe prepared guidelines. A resource refer to the source through which the benefits is beingmanufactured. There are two types of resources that the company need to maintain i.e. tangibleand intangible resources. Here are mentioned some of those resources: Tangible Resources: Tangible resources can be consider as the essence which arephysically plant, equipments, raw material etc. All visible can utilise the direct monetaryresource measurement consisting the financial and material resources. In context of cafeand restaurant, Kaleidoscope food & beverage, ambience, equipments of productions,machinery etc. are the tangible resources which presents the major services oforganisation.This also consist of key two types of tangible resources i.e. retail stores andmanpower of Kaleidoscope. Manpower include trained chef and worker, better4
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