Launching a New Venture

Launching a New
Venture

Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
P1. Specific target markets and undertaking competitive analysis..............................................3
P2 Specific tangible and intangible resources..............................................................................5
P3 Final proposal for establishing a new venture........................................................................6
TASK 2............................................................................................................................................8
P4 Skills and capabilities required to launch a new venture........................................................8
TASK 3............................................................................................................................................9
P5 Different promotional activities and channels to support the launch.....................................9
P6 Appropriate promotional activities plan for both launch and pre-launch.............................11
TASK 4..........................................................................................................................................12
P7 Monthly cash budget.............................................................................................................12
P8 An appropriate legal form for the venture............................................................................14
CONCLUSION..............................................................................................................................15
REEFRENCES..............................................................................................................................16

INTRODUCTION
In modern time there are several businesses that are trying to establish a new company in the
consumer field (Baron and Tang, 2011). A businessman faces number of obstacles and brings
into proper action as well as creative and original concept of business to set up their new
company. The new business venture selected is Morgan’s café and restaurant which aim to
provide healthy food items and drinks as per customer requirement.
The aim of this study is to explore the resource set required to start a new company, examine
the strengths and skills that are being learned for growth. In addition, the skills and abilities
which are important for the operating company are described in a structured way with the aid of
numerous marketing activities which are needed before preparing for both the start and pre-
launch phase. Finally, this article contains recommendations of a fitting legal framework for
chosen company.
TASK 1
P1. Specific target markets and undertaking competitive analysis
Understanding U.K customer increasing curiosity with healthy food stuff, a new cafe and
restaurant name Morgan have been established near Manchester streets. This café delivers the
finest roasted and cooked coffee to its customers, along low calories amenities with such as tea,
baked goods, bakery items etc. This is a rare cafe in spite of interior and exterior architecture
which helps draws as many customers attraction in upcoming time. In fact, healthy and security
tests are carried for dishes before making any delivery to customers (Launching a new venture,
2020).
Objectives:
 To be selected by the local state for the "best new Coffee Bar in the UK."
 Handle production with a ratio of about 65 per cent.
Mission:
The organization's café goal is to make every attempt to develop healthy drinks and food for
consumers and provide a relaxed and enjoyable environment for socializing and enjoying.

Target market:
To meet the targeted customer audience, this is needed to establish a target demographic for
case that will efficiently aid in achieving the ultimate outcome. Target audience applies to the
specific category or individual parameters at which a business enterprise or company is aimed.
Morgan’s café and restaurant key targets are intelligent adult adolescents, family member etc.
The whole cafe also strives to improve customers around medium income and expenses, health
care worker. Moreover the due to versatility in operation customer can ask for their own
ingredients and items as per their need and desire. Young and fitness freak people are the
main population group that Morgan’s café and restaurant has concentrated on targeting as they
can get their nutritious drinks and low fat food products.
Competitive Analysis: Morgan’s café and restaurant main rival is Starbucks in the United
Kingdom, that competes with every company selling Coffee and relevant product. Starbucks
offer large variety of coffee and healthy product and have a good brand image among customer
that makes uneasy for new business to survive for longer period and break customers. Starbucks
of strengths includes effective pricing strategy that help in offering various goods at reasonable
cost which took the mind-set of customers as the best company in entire industry within local
and international market. Respective cafe has developed a stronger USP which enables to
provide goods at decent prices with superior quality in the competitive sector that can lead to
succeed in future year (Simon and Shrader, 2012).
SWOT Analysis:
STRENGTH
The coffee shop of Morgan's biggest asset has
been that it sells cheaper goods and creates more
clients and greater benefit.
WEAKNESS
Moderate sales revenue and increased
competition make it extremely difficult to
connect the international market.
OPPORTUNITY
Morgan's coffee will combine to extend its
activities and activity at a larger level with
smaller firms.
THREATS
The set of small coffee shops by household will
not let Morgan’s to increase their sales by good
margin.