Business Venture Report: Cafe Corner - Target Market and Strategy

This report details the business venture of Cafe Corner, a coffee shop aiming to provide diverse coffee styles and complementary food and beverages. The report is structured into four tasks: Task 1 investigates the target market, competitive analysis, and required resources, including tangible (financial, human, physical) and intangible (patents, goodwill, technology) resources. Task 2 assesses the necessary skills for launching the venture. Task 3 explores promotional activities and develops a promotional plan. Task 4 focuses on the pre-launch cash budget and suggests an appropriate legal form for the venture. The report includes SWOT analysis, a credible launch proposal, and a conclusion summarizing the key findings. The report also provides an executive summary and discusses the competitive landscape of the cafe industry in the UK, highlighting the importance of innovation and target market selection. The report emphasizes the need for effective marketing and financial planning for the successful launch and operation of the Cafe Corner business.

Business Venture

Table of Contents
INTRODUCTION......................................................................................................................3
MAIN BODY.............................................................................................................................3
TASK1.......................................................................................................................................3
P1 Investigate and explain a new venture identifying specific target markets and
undertaking competitive analysis...........................................................................................3
P2 Determine specific tangible and intangible resources that would be required for the
launch of a new venture.........................................................................................................5
P3 Produce a credible proposal to launch a new venture.......................................................6
TASK2.......................................................................................................................................7
P4 Assess the skills and capabilities required to launch a new venture and how they are
acquired or developed............................................................................................................7
TASK3.......................................................................................................................................8
P5 Explain different promotional activities and channels that will support the launch and
justify their choice..................................................................................................................8
P6 Develop an appropriate promotional activity plan for both launch and pre-launch.........9
Task4..........................................................................................................................................9
P7 Produce an itemised monthly cash budget for the pre-launch phase of the venture and
the first 12–18 months preceding launch...............................................................................9
P8 Suggest an appropriate legal form for the venture stating why it has been chosen........11
CONCLUSION........................................................................................................................12
REFERENCES.........................................................................................................................12
Books and journals...............................................................................................................12

INTRODUCTION
The concept of entrepreneurship is continuously developing by the help of changes
within the business environment and arising of different opportunity within current market.
Entrepreneurship can be defined as the ability of an individual which is directly related to
generation of the idea and innovation thought within the mind of individual and using it for
doing different businesses within the market. Innovation can be defined as an activity of
developing some new idea and thought which will improve the ability of the product as well
as improve the quality (Adomako, Danso, Boso and Narteh, 2018) . The current report is
based on the enterprise which is the newly formed and based on the idea of cafe. The name of
the venture is cafe corner. it is a coffee shop which provide different kinds of coffee to its
customer in various styles and taste where it also provide different allied foods and beverages
which can be consumed by the customers. This report is divided in four tasks, first ask
consists of investigation and explanation about different new ventures by identifying the
target market in undertaking a competitive analysis, there is also determination of some
tangible and intangible resources which are required to launch a new business venture and a
credible proposal to launch a new venture within the market. The task 2 sentences of different
skills and capabilities which are required to launch new address and how they are acquired
and developed by the entrepreneurs. In context of task 3, there is discussion and explanation
about different promotional activities and channel which will support the launch of the
business. There is also discussion about appropriate promotional activity plan for both pre-
launch and post launch. Credible pre-launch phase and post launch phase test budget will be
prepared and the suggestion of the legal format of the venture and the reason behind choosing
particular format will be discussed.
MAIN BODY
TASK1
P1 Investigate and explain a new venture identifying specific target markets and undertaking
competitive analysis.
In current time it can be analysed that coffee is an important part of every individual
life as there are more than 40% people in the current world who are addicted to the coffee and
they drink coffee once in a day. According to the data presented by a survey it is analysed
that in UK to more than 60% of the total population drink coffee once a day. It is a golden
opportunity for a Cafe business to operate within the UK. Cafe corner is providing innovative
idea where it provides 50 styles of coffee to its customer as well as also provide self-service
coffee machines (Berry, 2017). This will help the customer in making coffee according to
their needs. Company also offer different kinds of beverages as well as next to its customer
which are complementary with the coffee as well as came in combos.
Target market
In present time, mandatory for every form to choose a proper target market where it
can target different kinds of customers according to their potential and make a pool of
customers which will help organisation is surviving for a longer period of time. In context of

coffee corner, it is dealing in cafe business where it is important for the organisation target
specific customers for increasing its business opportunities. cafe corner will target all income
group customers as well as those customer who are interested in different kinds of coffee and
pay more preference to taste (Blank, 2017).
SWOT analysis
It is a Framework which is used by the organisation to identify its internal
environment and competitive advantage within the market where it can easily identify its
strengths weaknesses of opportunities and threats and manage them to take a proper decision
regarding different factors within the newly launched business.
Strength
 Innovation: images strength of cafe corner is that it provide innovative idea where it
serve the self-services to customer who want to make their coffee according to their
self.it also provide 50 kinds of coffee flavours as well as complementary snacks to
customer which also an innovative idea and attract number of customer (Burns, 2017).
 Continue growing industry: it is also the strength of cafe corner that the cafe
industries continuously going where trend toward the coffee is increasing day by day
within the different areas of UK where cafe corner is working.
Weakness
 Average suppliers: cafe corner is using different kind of coffees which are imported
from different countries and some of these are rare coffee beans.so it limits the
number of supplier to the company which can act as and weakness cause company
cannot bargain from the suppliers.
Opportunity
 Globalising the operation: Capricorn is a golden opportunity to globalise its operation
because it provide innovative product as well as company can easily sell its product to
large number of customer by the help of globalisation.
 Joint ventures: for managing effective chain as well as increasing the market of
organisation it can also have an opportunity to make joint venture from old cafe
houses. Digital facility organisation of proper and existing market for launching their
product and increasing their future opportunity (Géraudel,Gast, and Gundolf, 2017).
Threat
 Competition: due to continuous increasing the trend toward the cafe industry
competition within the industry is also increased. This is acting as a friend for cafe
corner because there are large numbers of competitors like cafe coffee Day and many
more who are operating at larger level then the organisation with large number of
customer.

So, from the above it can be identified that the market is full of competition for cafe corner
but it have to properly identify the market and make it is there for organisation to survive for
longer period of time within the market.
P2 Determine specific tangible and intangible resources that would be required for the launch
of a new venture
It is important for every business venture to clearly identify different resources before
launching their business venture. In context of cafe corner, there are various kinds of
resources both tangible and intangible resources which have to be identified by the business
some of these are mentioned below.
Tangible resources: those resources which are visible and can be touched by the
individual within the organisation. Some of these resources in relation to cafe corner are
mentioned as:
 Financial resources: financial resources are those resources which include the
finance related to different functions within the organisation. Important resource for
every business nature has its own food for different functions by providing them
money to run their functions smoothly and achieve the targets of newly launched
venture. In context of, cafe corner there are various kinds of financial resources and
methods to attract financial resources by the help of issuing of shares debentures as
well as taking commercial loans from commercial banks (Kirkley, 2016).
 Human resources: human resources include all the manpower within an organisation
which will perform different functions related to different activity of the firm. In
context of cafe corner, it hires different type of employee with different background
according to their skills and ability. Café corner also believes in training and
development of employees where they can easily perform different task and achieve
the goals and objectives by providing effective services and quality product to
customers
 Physical resources: these are those tangible resources which include the things like
premises equipment of organisation machinery and many more which is the directly
related to functioning of the firm. In context of cafe corner, it also have various kind
of physical resources within the firm which are related to performance of different
task it include tables chairs atmosphere air conditioner, coffee machines, and many
more things which are directly related to functioning of the functions as well as
preparation of coffee.
Intangible resources: intangible resources are those which cannot be seen in test by the
individual what they can be felt or can be executed by the organisation at the time of their
need.
 Patent: Patent are those intangible resources which are required by the organisation to
save its interest from plagiarism. Patent will provide organisational legal right of their
product which will help organisation in saving its product from copying by its
competitor. In context of cafe corner, company have a specific patent on its
cappuccino delight which is its main attractive product.

 Goodwill: Goodwill is also an intangible asset for the organisation which provides a
specific platform to the form where it can easily attract the customers by building a
proper brand image within the market. Cafe corner is a new organisation but it also
has a small amount of goodwill within the market because of its innovative product
and the tagline of the company which is your trust our experience.
 Technology: Technology is that intangible resource which includes the methods tools
and machinery of the organisation which will help it in performing different
functions. In context of cafe corner, using various kinds of technology within the
organisation where it have different kind of machinery related to preparation and
cooking of coffee with more than 50 flavours and designs as well as it also have
innovative machinery which will help the individuals in preparing their coffee by their
own.
This can be evaluated that both tangible and intangible resources are important for every
business to start their functioning before launching their business as to maintaining a long run
business.
P3 Produce a credible proposal to launch a new venture.
Executive summary: Cafe industries continuously developing and the trend of coffee
are also increasing this is because every second individual within the world is addicted to
coffee. There are various kinds of Salah within the cafe business who provide different
services as well as provide different type of coffee to its customer with their cafe. The
industries little bit competitive where it is difficult for a new entrant to enter within the
market. But a newly formed business can start its business within the industry by undertaking
innovation within its functioning and attracting large number of customer (Kowalik, Danik,
and Sikora 2017).
Company description: cafe corner is the food outlet which provides cafeteria
approach to different individuals. This organisation have its main focus to provide the
different kinds of coffee to the customer as well as help them to make their own choice of
coffee by providing coffee machine for sale services. The main theme of the organisation is
to provide the best type of coffee according to the taste and preference of individual
customer. Company also provide complimentary beverages and a snack to the customers as
well as it also has different combos of coffee for groups of individuals. The basic aim of the
company is to provide place where an individual can fulfil its needs related to coffee as well
as taste different kind of coffee specially cappuccino delight, which is a key coffee of the
organisation.
Industrial analysis: cafe corner is working within the food production industry where
it is a special field of preparing and cooking coffee for different customers of different kinds.
This industry is very reactive where the customers are loyal to their organisations because of
taste and preference of customers within the coffee. Here coffee corner can survive by
providing innovative ideas as well as different flavours of the coffee which can attract
customers within the UK as well as help them in achieving their desire related to coffee
because it is an addiction to the customers (Kuratko, and Hornsby, 2017).

Market competition: the market where the cafe corner is going to trade is a highly
competitive market where there are large number of cafe who are providing different kind of
services to the customer for attracting them and retaining them for a longer period of time.it
is important for cafe corner to adopt a proper strategy where it can attract these customers as
well as written in profitability by serving large number of customer and making them loyal
towards the organisation for longer period of time.
Strategy and Goals: for surviving within the competitive market as well as
achieving the profitability the major strategic goals of cafe corner is that it has to make loyal
customers as well as increased its market share but 30% within the first year of launching.\
TASK2
P4 Assess the skills and capabilities required to launch a new venture and how they are
acquired or developed.
There are various kinds of skills and abilities which have to be developed by the
entrepreneur for launching the business as well as managing different activities where
targets and objective of the business can be achieved. There are various sources where the
individual can develop or learn the skills and abilities some of the skills and abilities and their
development source are mentioned below.
Financial management: finance skills are important part of the working within the
firm because it directly related to the interest of investor as well as customers within the
organisation because of proper management of finance which is invested by different
investors. This skill is also important for development of different task within the
organisation where the performance can be increased. Skill can be developed by the
individual entrepreneur by use of proper education as well as working within the organisation
before starting a business as a finance manager (Kuratko, Fisher, Boodgood, and Hornsby,
2017).
Negotiation and communication skills: it is also important for the individual to
develop the negotiation and communication skills for working within the competitive
environment. This is well known that the environment where the organisation is working is
full of competition and it is important for the firm to develop a proper negotiation system and
communication system to communicate different things within the organisation and negotiate
with its investors as well as suppliers. In context of cafe corner, the entrepreneur can develop
the skills by the use of different practices within the organisation as well as from the past
experience which will directly help in increasing the skills and grabbing the positive within
the market by establishing a proper communication as well as negotiation structure.
Leadership: it includes the quality of individual to guide and motivate the employees
within the organisation towards the goals and objectives as well as motivate them to work in
an effective manner. It is important for café to develop the leadership skills for managing the
success of the organisation in an appropriate manner as well as initiating the word to word the
goals and objectives for achieving them. This quality can be developed by organisation as
well as acquired by using the proper leadership styles as well as studying these leadership

styles in an appropriate manner so that the leadership ability can be developed (Liu and
Wang, 2018).
It can be evaluated that there are some skills which are important for the newly
venture to undertake and grab them by effective development and learning process to achieve
the objectives within the specified time limit.
TASK3
P5 Explain different promotional activities and channels that will support the launch and
justify their choice
Promotional strategy: promotional strategy can be defined as a set of activities and
plants which are used by the organisation to promote its product within the target market.
There are some strategies which are mentioned below related to publicity for supporting the
launch of the organisation "cafe corner".
Merchandising: marketing strategy in which organisation used to advertise its
product on different outlets of the organisation.in context of cafe corner it is providing
different kind of coffees as well as self-service machines to the customers for increasing their
satisfaction and desire related to their choice of coffee. Organisation can use this where it can
set up different outlets on different malls for promoting its product (McGee and Peterson,
2019).
Sales promotion: it is also effective technique which can be used by the organisation
for promoting its product as well as pre-launch event where it can use different kind of
marketing objectives where it will provide sales promotion to its customer. For this cafe
corner can provide discount on the purchase of first coffee as well as next to coffee. Strategy
will directly help the organisation in attracting large number of customer as well as increasing
the market share.
Exhibition and trade fair: this is also option in front of the organisation to promote
its product before launching by the way of exhibition at trade fair. Organisation can book
small stocks which will provide the information about the cafe two different individuals who
came to visit different carnivals and exhibition. Company can also provide a sample of the
product offered by the organisation which will increase the awareness about the cafe within
the general people of the YouTube as well as help it informing its business attracting large
number of customer because of a proper launch event (Mullin, 2017).
Advertisement: it is a popular approach which is used by different organisation to
promote their product within the market as well as achieve their targets of promotion. this can
also use by cafe coronavirus it can promote its product by the way of attractive
advertisements which include different characteristics as well as hiring of reputed celebrities
for promoting the product offered by the organisation.

P6 Develop an appropriate promotional activity plan for both launch and pre-launch.
Pre-launch activity: For promotion of the organisation cafe corner a Pre promotional
strategy will be adopted. Under this strategy sample of the products offered by the
organisation will be distributed in different areas of the UK where the targeted customers are
in large quantity. Company will also distributed sample to the market which are famous for
cafes as well as a proper advertisement will be done on different TV channels where the
organisation can promote its products by the help of advertising and marketing. Strategy of
promoting the product by the sponsoring a team will be adopted near football team in cricket
team of England will be sponsored by the organisation before launching the organisation
where it can promote its branding to different level of marketing (Stayton and Mangematin,
2019).
After launch strategy: After launching the organisation the first step for promoting
the organisation is to use the advertisement of the company televisions, social media and
newspapers. This will help the organisation in attracting large number of customer by the
help of these three together. Organisation will also adopt the strategy of promoting the
product by the help of sales promotion where it will offer different discounts on the first
second and third purchase made by the customers. Company will also adopt a membership
system for those who want to become regular within the organisation (Tracey, Dalpiaz and
Phillips, 2018).
Task4
P7 Produce an itemised monthly cash budget for the pre-launch phase of the venture and the
first 12–18 months preceding launch.
Pre-launch Cash Budget ($):

P8 Suggest an appropriate legal form for the venture stating why it has been chosen.
It is important for every organisation to registered is itself to the legal authority of the
nation where the organisation is working its operations as well as where it is going to operate
its functions. in context of cafe corner it is going to launch its business in UK market so it is
important for the firm registered with the legal authority is of the UK is in proper structure

where it can form effective strategies as well as manage its different functions according to
the guidelines provided by the legal authorities (Villani, Linder and Grimaldi, 2018). Cafe
corner registered itself as a company or a corporate organisation which will get different
benefits. Corporate organisation can be defined as an organisation or a company which is a
separate legal entity in the eyes of the law as well as perform its functions differently from its
founders. This structure is appropriate for cafe corner because it provide various benefits to
the organisations which are mentioned below:
Limited liability: the first benefit which can be availed by traffic corner after
registering itself as a company is that it has now limited liability. Limited liability means that
the owners and founders of the organisation don’t have any liability of organisation and they
don’t need to wear any liability of the firm by their personal assets. They are not liable to pay
any depth or liability of the organisation in future after closure of operation (Xie and Lv,
2016).
Long run: this will provide longer into the cafe corner because after that fasting or
death of owners of the organisation the organisation 10 still run because of its separate legal
entity and it can change its owner and founder continuously by the passing of time.
Tax advantage: one more advantage of registering as a company to cafe corner is that
it can avail various tax benefits in current time. There are various tax benefits to the
companies within the UK because of promotion of trade and business in the UK which also
provide the tax relief to cafe corner because of registering itself as a company (Younger and
Fisher, 2020) .
So, it can be analysed that registering as a company has various benefits to the organisation
which also help it in surviving the competitive environment and managing its resources
according to its need.
CONCLUSION
It can be concluded from the above mentioned report the entrepreneurship is
developing continuously within the current market and it is a good time for launching a new
venture to an individual. For launching a new business it is also important to clearly identify
different financial, tangible and intangible resources which will help the organisation in
running its functions smoothly. It can also identified that there are various techniques which
can be adopted by the firm for promotion of its pre-launch and post launch events by the help
of a proper strategy. In the end, it can be concluded that a proper cash budget have to be
formed to getting the maximum advantage as well as it is also important for the firm to
register itself under the legal authority of the nation where is going to launch its business this
will have the firm in gaining a status as well as branding its product according to the market
situation.