Detailed Report on Launching a New Coffee Shop Venture in the UK

This report details the launch of a new coffee shop venture, "Beans café," within the UK market. It begins with an introduction highlighting the importance of market research and the challenges of starting a new business. Task 1 focuses on explaining the business venture, identifying the target market (youth segment) and conducting a competitive analysis using Porter's Five Forces. It also covers tangible and intangible resources such as equipment, finance, trade names, and patents. Task 2 discusses the skills and capabilities required for starting a new business, including risk-taking ability and financial management. Task 3 examines promotional activities and develops a promotional plan for both pre-launch and post-launch phases. Task 4 includes developing a detailed monthly cash budget and suggesting an appropriate legal form for the business. The report concludes by emphasizing the significance of a well-planned approach for a successful new venture.