Unit-28 Launching a new venture.

Unit-28
Launching a new venture

Table of Contents
INTRODUCTION.......................................................................................................................................3
LO1.............................................................................................................................................................3
P1 Investigate and explain a new venture identifying specific target market and undertaking
competitive advantage.............................................................................................................................3
P2 Tangible and intangible resources that would required for the launch of a new venture....................5
P3 produce a credible proposal to launch a new venture.........................................................................6
LO2.............................................................................................................................................................8
P4 Skills and capabilities required to launch a new venture and how they acquired and developed........8
LO3.............................................................................................................................................................9
P5 Different promotional activities and channels that support the launch...............................................9
P6 Develop an appropriate promotional activity plan for both launch and pre-launch..........................10
LO4...........................................................................................................................................................10
P7 Produce an itemized monthly cash budget for the pre-launch phase of venture and first 12-18
months preceding launch.......................................................................................................................10
P8 suggest an appropriate legal form for the venture.............................................................................14
CONCLUSION.........................................................................................................................................15
REFERENCES..........................................................................................................................................16

INTRODUCTION
A business enterprise which is based on something that contains risk and on the same
time with a hope of earning a profit. A new venture gives services related to shop online, transfer
money online, cargo, merchandise etc. on which risk is consider. It is formed with the aim of
gaining the financial benefits within a small period of time. In this a person can research a whole
market where they establish their business venture with their new products so that they know the
need of the market and then innovates their products and launch in a marketplace. This project is
related to new venture of “Titbit” that is a new enterprise of organic food and beverages and they
open a business in UK. It involves various aspects that helps in understanding the facts related to
starting a new venture. This report investigates the range of resources that is useful to launch a
new venture and show the required skills and capabilities that is required to develop an
enterprise. It also includes the promotional tools that are useful to new venture for stay in the

market. At last make a legal form and budget that helps in further activities to launch a new
business in a market place(Kuratko and Hornsby, 2017).
LO1
P1 Investigate and explain a new venture identifying specific target market and undertaking
competitive advantage
Venture idea
Titbit is the new venture that has opened their store in Germany, UK with their main
products like organic food and beverages that is fresh and healthy and does not contain any
added artificial color that harms the human body. In this they offer all types of vegan drinks and
foods that contain only fresh and nutritional value with full of vitamins and antioxidants. Firm
wants to open their business in Germany where they get the good response from the public side.
With the help of marketing research team venture examine the demand of the vegan foods and
beverages and due to this they decision related to enter in the market is strong with this idea. In
this research is an important part that helps in earning the higher profits with targeted the
customers and enhances the sales within a short period of time. It is a significant tool for an
entrepreneur to research the whole market where they establish their business unit so that they
get only success. They started their business in many ways by taking the loan from the outside
investors, make partnership deal with thief family and friends who experienced and have a lots of
knowledge about the market so that they get higher revenues(Kuratko and et. al., 2017).
To start a new venture owner of a business need 1300 square feet land in Germany on a
lease for 10 years with the aim of running a successful business without any hurdles with an
initial capital of 33,0,000 pounds. The firm chose to take loan from bank as they find it as a best
source of lending money(Adomako and et. al., 2018).
It is very essential to set the SMART objectives by the owner of the business so that it
helps in accomplishing all the activities and executing is an effective way. It can be framed
below.
 Specific - Their main target is Germany market to accomplish their goals they focus on
that market.