Unit 28 Launching a New Venture: Health on wheel

UNIT 28 LAUNCHING NEW
VENTURE

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P.1 Explaining the new venture idea...........................................................................................1
P.2 Determining specific tangible and intangible resources of business plan............................6
Intangible resources.........................................................................................................................8
TASK 2............................................................................................................................................8
P3. Producing a credible proposal to launch a new venture.......................................................8
P.4 Assessing skills and capabilities required to launch a new venture....................................10
TASK 3..........................................................................................................................................11
P.5 Explaining different promotional activities and channels for the launch of the new venture
...................................................................................................................................................11
P.6 Developing an appropriate promotional activities plan for both launch and pre-launch of
the venture.................................................................................................................................12
TASK 4..........................................................................................................................................13
P.7 Producing an itemised monthly cash budget for the venture..............................................13
P8. Suggest an appropriate legal form for the venture, stating why it has been chosen for your
organization...............................................................................................................................16
CONCLUSION..............................................................................................................................17
REFERENCES..............................................................................................................................18

INTRODUCTION
The 21st century is a fast moving era. People of this age are very busy. They do not have
time for their health care too. Today people are demanding healthy food to remain themselves
healthy and fit. This report is presenting a business plan which is of organic food truck. Name of
this food truck is “Health on wheel”. Inside this report executive summary about business plan
will be presented. The report will also consist off competitive analysis, various pre and post
launch promotional activities, legal ventures for business plan. A forecasted budgeted cash flow
is also made for an estimate of the expenses.
TASK 1
P.1 Explaining the new venture idea
Executive summary
“Health on wheel” will be the reasonably priced 10 seats food truck which will offer the
organic food. Fruits, juice, vegetable salad, fruit salad, protein shakes, eggs, yogurt, dry fruits
curry, etc. are all on the menu. In this food truck, they will offer all the organic food for the
1
Illustration 1: FOOD TRUCK
(Source: FOOD TRUCK, 2018)

young, adult, men, women, old etc. food truck will be operated by (write your name along with
your partner here). The “Health on wheel” will put emphasis on organic ingredients.
Customers: “Health on wheel” aims to target distinct groups that believes that the
market can be segmented into five group. The segmentation will be done geographically. Target
will be different areas in city which includes Gym, Hostels, Hospitals, Old age homes, parks etc.
these are some basic areas where food truck will offer organic food.
Management: “Health on wheel” has assembled a strong management team. Three
friends have decided to launch new venture which is basically based on the organic food. Apart
from this, they will appoint one professionally trained driver, one senior chef along with two
assistants and three helpers who will serve food and manage the whole working. All three
friends will take the responsibility individually of different works inside the truck. For example,
one had excellent accounting skill with IT skills so he will manage the accounts' department
(Terjesen, Bosma and Stam, 2016). Apart from this second owner will manage the raw material
and stock and third will take care of other activities.
Competitive edge
“Health on wheel” s competitive edges are:
1. The proprietor's sound understanding about running and opening a food truck.
2. An attractive, unique contemporary food truck design.
3. An attractive international featured menu, changes in every six months.
4. Proper marketing campaign including in and outside the city.
Competitor Analysis
To identify the competitive analysis of “Health on wheel” simple and best technique
have been used that is SWOT analysis.
The SWOT consists of Strengths, Weaknesses, Opportunities, Threats. The SWOT of
“Health on wheel” are listed under along with their weighted impact on mission. The strengths
of my food truck will arise from its unique feature that is mobility and its organic foods. It offers
the organic food by itself that means it is a food truck which go to the customers and offers them
a healthy food. It also saves time of customers. The truck also carries some natural and artificial
things which help them to attract more customers.
SWOT analysis: Strengths
2

Ratings Strengths weight Weight
score
3 Varieties of healthy cuisine 5.00% 0.15
3 Inviting look 6.00% 0.18
4 Goodwill 7.00% 0.28
3 Quality of the service 8.00% 0.24
4 Nutritional value 13.00% 0.52
3 Met the requirements of Specials needs 5.00% 0.15
2 Artificial and natural equipment's 6.00% 0.18
50.00%
Weakness
The weakness of “Health on wheel” lies on its brand, because inside the city no one
knows it. The existing business which are currently running have already acquired market so it
will take time to sustain this food truck in market. Another weakness about this is that it will
offer the organic food which can be quite expensive than others.
Rating Weaknesses Weight Weight
score
3 Fresh establishment 18.00% 0.54
4 Limited fund 14.00% 0.56
4 Higher prices of the organic food 10.00% 0.4
3 Limited possibility of expansion 8.00% 0.24
50.00%
3

18.00%
14.00%
10.00%
8.00%
0.54
0.56
0.4
0.24
Fresh establishment
Limited fund
Higher prices of the organic
food
Limited possibility of ex-
pansion
Opportunities
“Health on wheel” is having various opportunities like, it is providing organic foods
with various geographic as well as demographic segments. There are very less restaurant and
food trucks which are offering pure organic food for health conscious people. The attractive food
truck design with artificial creation of nature will attract customers.
Ratings Opportunities Weight Weight
score.
3 Population of students 8.00% 0.24
4 Growth in health conscious people 16.00% 0.64
3 Pure organic truck 10.00% 0.3
3 Movable restaurant 8.00% 0.24
3 Necessary locations (gym, hostels, parks, yoga centers) 8.00% 0.24
4