Launching a New Venture - skylight cafe Assignment

Launching A New
Venture

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
P1 A new venture identifying specific target markets and competitive analysis........................3
P2 Specific tangible and intangible resources that required for a new venture..........................4
TASK 2............................................................................................................................................6
P3 Produce a credible proposal to launch a new venture............................................................6
P4 Skills and capabilities required to launch a new venture.......................................................6
TASK 3............................................................................................................................................6
P5 Different promotional activities and channels for launching new venture............................6
P6 Develop an appropriate promotional activities plan for both launch and pre-launch............6
TASK 4............................................................................................................................................6
P7 Monthly cash budget for the pre-launch phase......................................................................6
P8 An appropriate legal form for the venture.............................................................................6
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................6

INTRODUCTION
Launching a new venture is a complex process that involve number of interrelated
activities to be performed by the entrepreneur. Entrepreneur is an individual that come with new
and fresh idea to start a business with an aim to earn high profits. As business environment is
dynamic in nature which keeps on changing therefore, it is necessary to carry out the work
process accordingly. The report is based on skylight cafe that is going to launch in London, UK.
They will offer different types of food items such as Chinese, Italian, continental in order to
satisfy the needs and wants of customers. The report will highlight various types of skill and
capabilities that is required to launch a new venture. Apart from it, distinct types of promotional
activities that is carried to support the new cafe that has been launched.
TASK 1
P1 A new venture identifying specific target markets and competitive analysis
In contemporary time, opening a restaurant or cafe is trending as it is profitable and suits
lifestyle of customers in the target market (Simon and Shrader, 2012). Skylight cafe is launched
keeping in view of this aspect. It offers number of varieties of food that include Chinese, non
vegetarian, Italian, continental as well as beverage items. It is launched in mid place of London
so that it can be easily accessed by the consumers. It will be located in the area of 2500 square
feet at Peter street at London, UK. It has been taken on lease for 3 years so that initial start of
cafe could take place and do not face problem related to place. Finance is also required as a
important resource in launching a new cafe. Owner have to arrange significant amount of fund
by taking loan of €4,36,896 from bank.
The main purpose and aim to start this venture are as follows:
 To present high quality products to consumers.
 To gain continuous growth and development.
 To earn significant amount of profits.
 To be among best cafe in London.
Mission: “ To deliver high quality food items to their consumers by satisfying their
desires in affordable price.”

Target market segment: This is a essential decision that must be taken by entrepreneur
regrading choosing the target market. It provide the framework to formulate decisions
accordingly so that needs and wants of target people gets satisfied in conducive manner. There
are number of basis on which single market can be segmented that include depending on type of
customers, income level, gender, preferences and many others. Skylight cafe is targeting the
young generation as they are foodie in nature. This is a part of plan that must be properly taken
up by entrepreneur as all further decision will be in accordance to it. Therefore, proper attention
must be delivered to it (Scarborough, 2016).
Competitive analysis: There are number of competitors that are already present in
market place. Therefore, before staring a new business it is essential to analyse the strategies of
rivalries and make plans or decisions considering it. Little wonder cafe, blight cafe, regency cafe
are the competitors that may give a huge competition for skylight cafe. Thus, it is incumbent to
analyse the policies and strategies of all the rivalries as they have already earned high market
share. Skylight have to work with some uniqueness and creativeness in order to stand apart from
others in market place.
P2 Specific tangible and intangible resources that required for a new venture
To start anything new and fresh there are number of resources which are needed to
operate it in successful way (Robb and Watson, 2012). Similarly, to launch a new venture
entrepreneur require different type of resources that could satisfy the objective for which it is
constituted. There are number of resources which are present in environment hence, decisions
have to be constructed to deploy it and use it in optimum manner. New venture of cafe require
resources in relation to food items, beverages as well as services of tangible and intangible nature
that are described below:
 Tangible resources: It refers to the material that can be felt, touched physically. It
include number of equipments, tools, plant and machinery and other items. Funds are
consider most crucial resource as other material can be purchased by giving sufficient
amount of funds. To start a new cafe the tangible resources that are required involve land,
furniture, initial capital, electronic items for baking food items, refrigerator, oven and
many others. Hence, proper decision must be taken to make arrangement of these
tangible resources effectively. Other tangible resources involve interior designs, items