Unit 28: Launching a New Venture - Carl's Beauticians Business Report

This report examines the launch of Carl's Beauticians, a new venture in the UK focusing on herbal and natural beauty products. The report details the identification of the target market, competitive analysis, and the development of a business plan. It explores tangible and intangible resources required, including human, physical, and technological resources, as well as customer relationships. Furthermore, it outlines promotional activities, pre-launch and launch strategies, and a detailed monthly cash budget for the initial phase. The report also suggests a suitable legal form for the venture, providing a comprehensive overview of the steps involved in launching and managing a new business venture. The report also covers SWOT analysis, Porter's five forces analysis and the objectives of the business.

Unit 28
Launching a New Venture

Table of Contents
Contents
INTRODUCTION...........................................................................................................................1
TASK1.............................................................................................................................................1
P1) Investigate and explain a new venture identifying specific target market and
understanding competitive analysis........................................................................................1
P2) Determine specific tangible and intangible resources that would be required for the launch
of new venture........................................................................................................................5
P3) Produce a credible proposal to launch a new venture......................................................6
TASK 2............................................................................................................................................7
P4) Assess the skills and capabilities required to launch a new venture and how they are
acquired or developed.............................................................................................................7
TASK 3............................................................................................................................................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
TASK 4..........................................................................................................................................10
P7) Produce an itemised monthly cash budget for the pre-launch phase of the venture and the
first 12-18 months preceding launch....................................................................................10
P8) Suggest an appropriate legal form for the venture stating why it has been chosen.......13
CONCLUSION..............................................................................................................................14
REFERENCES..............................................................................................................................15

INTRODUCTION
The launching of new venture is the transformational of the entrepreneur into the venture
concept by making a promising opportunity and have comes with the concept to make a positive
change within the society. The venture will get launch while working with key steps that are as
creation, including the feasibility analysis and the fundraising and marketing as well. In this an
entrepreneur will work with the creative and the innovative ideas and having the vision to make
the suitable change or up-gradation within the society as from their services and product. In this
an entrepreneur will have work with the set of actions and get implement that in the reality with
that make systematic change with that the goals and objective get achieved in timely manners.
While launching the new venture an entrepreneur must have take the new initiative and with that
bring new advancement while giving the tough competition to their rivals (Anglin, 2018). Thus
an entrepreneur makes sure that their services must be different from the already present services
by which the customer get easily attract towards their business. In this the most important is to
collect the market research by which all the ongoing change will get measured by which
effective outcome will get make to fulfil the need and demand of the customers. This report is
based on a new launch venture named as Carl’s beauticians and have launched it with the most
herbal and natural products and have cover all the skin tone of male and female and get started
their business in UK. This report is based on the identification of the specific target and
understanding of the market analysis, tangible and intangible products, creditable approach,
skills and capability, promotional activities, monthly cash budget and the legal format that is
required while opening the new venture with more effectiveness.
TASK1
P1) Investigate and explain a new venture identifying specific target market and understanding
competitive analysis.
The design of new venture:
Carl’s beauticians is a new venture that get launch in UK and they have worked with the
aim to make the suitable changes and prospect of the people about the beauty care products and
with that they have make the suitable change as per skin tonnes (Auschra, 2019). In addition to
this have ensure that their products will not have induce any side effect and have make make-up,
luster, mascara, micro-fibres, minerals, moisture, skin creams, lotions, suns cream, face packs
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and many other as well that are make with the natural procedure and make available that any
other chemical will not get used. As the global warming is increases and with that the
temperature will also get keep on increasing and with that it has huge impact on the skin tonnes
of all the people. Thus it is more needed to use the herbal and natural products and with that the
large number of customer also get attracted towards the organic products to get procure their skin
from damage. Carl’s beauticians have made the market research and with that have try to make
the analysis that which products get chosen by the customer more and with that the need and
requirement of the marker with that make more innovation in their own services and ensure that
make the healthy products that consist antioxidants rather that the oxidants (Barbosa, 2019). It is
more helpful for the business or for the new venture as with that they have make larger profits
with higher sales by which advanced benefits will get gained within the certain period of time.
As for the new venture it is more needed that they have make the entry in the aggressive
market by making adequate amount of innovation in the products and services but with this gave
the tough fight not only to the competitors but also follow the current trends of the market and
fulfil the requirements of the customers. As in the initial phase have collect the information from
the family and friends or as from the relatives as well by which get to know about their
requirements and things what they need. In this the first step will be taken from their prospects
and make the affordable planning by which covers the larger number of people. To get start the
new venture the business must need to make an investment and for their they have need
approximate 35-400000 pounds and have also require the capital as well and for that land area is
needed and that is about 1802 feet in the marketplace in London, UK. In this as in the starting
they need to collect the funds as well with that have try to gathered relevant sources (Conti,
2018).
Objective: Thus as in the starting Carl’s beauticians wants to get attain the set goal and
target and for they an entrepreneur have make the SMART objectives that are as described below
as:
 Specific: In this Carl’s beauticians must have open the store at larger scale in the London
and have worked with more concentration on the get achieve better profits.
 Measurable: It is factor through which Carl’s beauticians have analysed the growth with
the sales profit of about 40%.
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 Achievable: It is factor through which Carl’s beauticians have produce the product and
services that are more organic and herbal contain without having using the chemical
merchandise.
 Relevancy: In this the Carl’s beauticians have try to make up the franchisee in the
different places on UK and with that cover the larger market.
 Time bound: Carl’s beauticians have analysed the growth and development as per the 12
month time period (Cosenz, 2018).
Target market: The Carl’s beauticians will target the market as per the different factors as
like demographic, behavioural and the geographic but with most favourable they have used
geographical segmentation.
SWOT analysis of product:
Strength Opportunity
The key strength of the Carl’s beauticians is that they
have come with the products that are more needed and
with that have induce organic and herbal ingredient
with that make more connectivity with the larger
number of people.
As all the individual have more concern and aware
about their skin related products and mostly get used
the product that are more natural and herbal and it is
the opportunity if the Carl’s beauticians.
Weakness Threat
The major weakness of the Carl’s beauticians is that
people always look forward for the products that are
more natural and herbal but have provided at cheaper
cost and the production of the herbal products are
more costly as compared to the chemical oriented
products (Del Bosco, 2019).
The people will always get connected with the
products that has linked with the brands and in this the
people will always get switched their products and
services with that it is hard to get believe in the new
venture.
Porter’s five force analyses: It is a framework that gets used by the company to make a
competitive analysis while measuring the environment and includes different factors that are as
defined below as:
Threat of new
entrants
As Carl’s beauticians have take an entry in the newer market and they have deal with the
cosmetic and herbal products. The cosmetic industry has the less threat of new entrants as
they have already established the strong relationship with the customer and with this it is hard
for the new entrant to attract the customers (Chen, 2020). But the Carl’s beauticians itself is
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being a new entrant thus they must get focused to provide the quality services to the customer
by which they keep attracting the customer and share the loyal customer base.
Bargaining power
of suppliers
It is a power that is mostly based on the customers hand as they has the right to choose any of
the services and manipulate the prices as per their convenience thus they have high bargain
power. It is due to the increased competition and the easy accessibility of the cosmetic and
beauty products. Thus Carl’s beauticians must provide the product and minimum prices with
that maintain the quality as well.
Bargaining power
of buyers
The supplier having the high bargain power as they has the right to influence the price as
many product were get developed by a lot of cosmetic industry thus the supply is also be huge
thus the customer will get influence the prices to opposed their suppliers.
Threat of
substitute
products
There are a lot of industry as both small and large scale and have provide the diverse range of
products to the customer and try to gain the better profit with that customer also get attracted
towards the new ingredient based product by which the profit ration of the company will get
reduced.
Existing industry
rivalry
As there are various industry and all wants to achieve the better sales and more profit and
under this they have provide the better services with that cut throat competition is there and
all were get fight with their respondent by providing the better service at minimum price and
its profit is in favour of the customers (Bernardino, 2018).
P2) Determine specific tangible and intangible resources that would be required for the launch of
new venture
The tangible and intangible resources are the basic necessities of the new venture Carl’s
beauticians and thus they have always look forward to collect the appropriate resources and have
manage that with more correctness that are as defined below as:
Tangible resources: It is the resources that can be touched by the Carl’s beauticians and
have produced more profit and development that are as defined below as:
 Human resources: It is the resources that are required to make more profit as with that
the new venture must have employee and other working staff. In this the objective of
Carl’s beauticians is to enhance and get develop the sale and profit with the rate of 40%
and get recruit the best talent people within the business by which with their contribution
business gain more profit and success (Domurath, 2020).
 Physical resources: It is the resources that are more needed to produce different products
and services that get offered within the market and with that they have produce more
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suitable products. They must have supply the products and services with appropriate
distribution channel and thus further supply the product in the market.
 Technological resources: It is the resources by which Carl’s beauticians have produce
the products and services with the help of advanced machinery with that the cost and time
will get more save.
Intangible resources: It is the resources through which Carl’s beauticians have gain more
favourable changes with that these are those resources that can’t be touches but get feel or shared
in terms of success and growth as per the time expands. The intangible resources of Carl’s
beauticians are as defined below as:
 Customer list and relationship: Carl’s beauticians have worked by maintain and keep
focusing of the customer and have make the strong relationship with the customer by
which have try to gain more profit. Carl’s beauticians have needed to develop the large
customer base and with that have tried to develop the larger market share with that the
image and values of business will also get circulate within the market (Fountain, 2018).
 Software: Carl’s beauticians have develop the software and with that have manage the
inventory and stock storage by which make continuous supply chain of products and
services by which the need of customer will get fulfilled. In this have make the strong
image in the market and have gain superior position by which effective relationship get
maintained.
 Skills and capability: It is basically define the working ability of the employee and that
if the employee has the better skills and more capability that they will always work with
better efficiency and try to achieve their objective on timely basis by which more profit
will get gained by the business as it will directly emphasis the productivity of the
business (Makojević, 2018).
P3) Produce a credible proposal to launch a new venture
The credible proposal plan of the Carl’s beauticians is as describe below as:
Title: “Carl’s beauticians” is the label that is the collective form and with that they have
provide the different products to the customers as those are more herbal and organic by suitable
to all skin tonnes (Frankenberger, 2019).
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Objectives: Carl’s beauticians have work with the objective to served the best product
that are free from all the chemicals and get achieve the better success and covers the 15% growth
in the upcoming 6 months of time period.
Future scope: It is the ability of the business as with that Carl’s beauticians will expand
their business more by expanding the business to the other places of UK.
Overcome from difficulty: According to the recent changes in the market there are other
companies as well that have produce the different products and services related to cosmetics. But
there is no one that has supplies the services with affordable prices by which Carl’s beauticians
get benefit of this and have target the larger customer and attain more sales.
Finishing designed new product/service: In this Carl’s beauticians have more concern
about the skin issues that are generate more random basis. While there are some other companies
who has make the products with the use of more chemicals that has adverse impact on the skin.
Thus to get over from this Carl’s develop the product that are more suitable and affordable to all.
Instance Planning for New Product Services: In order to make the products the Carl’s
beauticians have make apt planning by inducing more effective strategy and implement that with
more effectual manner by which it helps to gain more sustainability within the market.
Pricing Planning: Carl’s beauticians have more focus to be herbal and natural with that
they have supply the products with lesser rate as compared to the competitor with that maintain
the quality as well (Jiang, 2019).
Analysis of Competition: The Carl’s beauticians have a lot more competitor and with
that they have produce the cosmetics and the beauty products too with that have analyse that
quality products are the need of the business by which they differentiate them as compared to
other.
Contingency plan: It is a plan that will reflect the better planning of the business and in
this the Carl’s beauticians have worked with more satisfactory to provide the better service to
their customer with appropriate prices.
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TASK 2
P4) Assess the skills and capabilities required to launch a new venture and how they are acquired
or developed
The exclusive skills and different capability through which an entrepreneur has start the
new venture with more perfection and it is more vital that they have come with unique ideas
through which the sufficient change in effective manner. The Carl’s beauticians must uses some
skills and it is also be more required that are as defined below as:
Bootstrapping skills: In this skills Carl’s beauticians get design their professional
website and connect with the other internet service and provide the polished look to their venture
and it helps the venture to get start from the ground with their personal savings.
Addressing risk factor skills: It is a skills under which the Carl’s beauticians must get
address their working risk and barrier that get resist their performance and work accordingly to
reduce the working pressure and load from the employee and induce the better flow of services
in which the working performance of the company will also get developed (Sikder, 2019).
Personal network skills: It is a skill that is more needed for the new business as in this
Carl’s beauticians try to enlarge their network by which get interact with more of the people and
share the information about their company and spread more awareness that helps to attract the
larger number of customers in systematic manner.
Managerial skills: In this skill the Carl’s beauticians manage the several operation that
get performed within the business to get control the manufacturing and production process
(Kullik, 2018). In this Carl’s beauticians have more number of employee and they have manage
the operation on continuous mode.
Decision making skills: It is the skills that are more required by which some decision
must have taken to enhance the working efficiency and performance of the business in timely
manner. Carl’s beauticians have takes the decision to develop the rate of profitability and to
develop the skills as well.
Leadership skills: It is the skills that get used to influence the working ability and
performance of the employee and with that the working attitude and behaviour of the employee
will get changed. Carl’s beauticians use this skill to develop more morale and zeal in employee
this satisfactory result get achieved.
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Risk taking ability: In this skill Carl’s beauticians have take the risk while making or
producing new products as it is not easier to grab the attention of customer towards the new
cosmetics products. Thus as more the risk more the profit too that enhance long term success and
growth.
Research skills: Carl’s beauticians have uses different skills to get make the research and
with this try to collect relative information to fulfil the basic need of the market. Thus the new
venture collects the feedback by making survey to understand requirement of market (Li, 2019).
TASK 3
P5) Explain different promotional activities and channels that will support the launch and justify
their choice
The promotional activities will get performed within the Carl’s beauticians by which they
multiply more responsiveness within the market about their produce product and services and
there are few activities that are followed by the Carl’s beauticians and that are as follows as:
 Social media: It is the suitable platforms which are mostly used by the Carl’s beauticians
by which they have provide the product and services to the customer with more easiness
and have uses Facebook, applications, search engines etc.
 Mobile billboards: In this Carl’s beauticians have uses the different logo by which has
differentiated their services as from the others by which get certified image get produced
in the market (Martin, 2020).
 Personal promotions: The Carl’s beauticians have uses these kind of promotions within
the business and it get performed as by the conducting the debates, speeches, pamphlets
etc. It is the process through which the self promotion has been performed by which they
have promoted their services with the easiest manner.
 Hosting events: In this Carl’s beauticians will conduct the events to get collect the
adequate information as in the market by which has promoted their services at larger
scale.
 Developing relations: Carl’s beauticians have developed the effective relation within the
customer by collecting timely feedback from the customers and make continuous
development in their services and products (Mazzarol, 2020).
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 Product sample: It is a type of marketing in which the Carl’s beauticians must provide
some sample in the market at free of cost by which more people could know about the
different offered service and the presence of the new business.
P6) Develop an appropriate promotional activity plan for both launch and pre-launch
The promotional activity plans of the Carl’s beauticians make the different effective and
effectual profit at both the time launch and at pre-launch as well.
Pre-launch promotions:
It is stage in which Carl’s beauticians will launch their goods and services within the
market with that perform several promotional activities and thus they have uses the public
hoarding by which the buying behaviour of the customer will get enhanced (Paul, 2019). It is
more useful with that attract the customers and have worked with the tagline as “Let’s be more
organic and beautiful” and it reflect the behaviour and attitude of business. As the name will get
selected by the business and in support of this the company must get registered their name in the
domain by which it will not get used further and provide the certain brand naming to the
business.
Launch promotions:
It is the promotional activity in which Carl’s beauticians have covered the larger market
and with this get more people know about their products and services. In this Carl’s beauticians
have uses several methods within the business while launch the business. In this mostly they
have use the social media marketing by which try to target the larger customer base (Rocha,
2019). Thus with this Carl’s beauticians have uses different strategy as well to grab the attention
of the market that emphasis the long term sustainability by which more stability will get induced
within particular period of time. It is even more effective promotion as in this the larger number
of customer will get attracted by which the attention of more of the customer will get grab as in
this Carl’s beauticians uses the online promotions as from the Twitter that provide the vast
platform and helps to get connect with more people within lesser period of time and support the
business to attain the better outcomes.
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TASK 4
P7) Produce an itemised monthly cash budget for the pre-launch phase of the venture and the
first 12-18 months preceding launch
The cash budget state the net inflow and outflow of the business and it is more useful for
the Carl’s beauticians by whom they have gain more development. The cash flow will get
induced more perfection and reflect the total amount that is presented in the business and below
is the budget of 12-18 month time period.
Pre launch cash
budget
Cash Flow
budget
Particulars Jan Feb Mar Apr May June
Cash inflows
Investment 8000
Credit sales 2000 3000 3000 4500 1500 3500
Total inflows 10000 3000 3000 4500 1500 3500
Cash outflows
Fixed :
Equipment’s 2000 2500 1500 2000 1200 1500
Variable :
Direct material 300 300 200 300 150 500
Total outflows 2300 2800 1700 2300 1350 2000
Net cash flow 7700 200 1300 2200 150 1500
Opening
balance 0 7700 7900 9200 11400 11500
closing balance 7700 7900 9200 11400 11550 13000
Particulars July August September October Novembe Decembe
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