New Venture Report: Delish-on-the-go Restaurant in the London Market

This report analyzes the launch of Delish-on-the-go, a new restaurant venture in the London market, offering a variety of cuisines to attract a diverse customer base. The report identifies the target market through geographic, demographic, psychographic, and behavioral segmentation, emphasizing the importance of understanding customer preferences. It also conducts a competitive analysis, highlighting key competitors and the need for strategic differentiation. The report outlines the tangible and intangible resources required, including financial, human, and intellectual assets, as well as the importance of securing intellectual property. Furthermore, it presents a credible proposal for the venture, including an executive summary, company description, market analysis, financial projections, and benchmarking strategies, providing a comprehensive overview of the venture's planning and execution. The venture's financial plan includes leasing a property, securing bank loans, and leveraging personal investments to establish the restaurant.

Launching a New Venture

INTRODUCTION
There are number of ventures are established in market which are engaged in different
sector with an objective of earning profits. Therefore, an individual if have sufficient skills and
knowledge to manage and operate business function more smoothly then the launching a new
venture will bring profitable outcome to them. Business environment is complex and contingent
in nature which may creates difficulties and challenges through several factors in operating new
business thus an individual if have skills to make an effective decisions and plans to deal with
such challenges in more effective way then an individual can be called as a good entrepreneur.
The present assignment report is based on new venture named as Delish-on-the-go restaurant
which has provided delicious and wide variety of food products and beverages in the London
Market of UK. The project includes identification of specific target market and competitive
analysis so as to sustain in market within short period of time. The project also summarises the
skills and promotional activities which are essentially required to make new venture more
successful. Other aspects are also explained under this report with the context of Delish-on-the-
go restaurant (Bijker and et. al., 2012).
TASK 1
P1: Identification of specific target market and competitive analysis
Delish-on-the-go restaurant is new business venture which is decide to launch in London
Market with multiple cuisines. It has offered delicious dishes of multiple number of countries
with an aim of attracting customers across worldwide. For example, Thai, Spanish,Indian,
Chinese etc. are some dishes which are going to be offered by restaurant. The main preferred
location of starting new venture is London due to having large number of tourists and high crowd
which may increases their revenue and the chances of making new venture more successful will
be more. Through conducting research, it has find out that mostly customers are preferring to
visit at such restaurant where they can get different nation's food items. Therefore, it becomes a
great idea of serving foods of multiple number of countries in London Market (Hmieleski, Cole
and Baron, 2012).
An entrepreneur start a restaurant in partnership with their college colleagues in order to
get sufficient support from them in running business more successful. Having unique and new
ideas of each partner will help restaurant in achieving growth and success within shorter period

of time. Delish-on-the-go restaurant has acquired approx. 1600 square feet near London Eye on
lease of 6years with an objective of continuing business without facing any barriers and
difficulties. As restaurant is formed in partnership thus can easily avail funds from their different
sources such as own capital, financial institutions which are around £340000 to 349560.
Objectives
 To serve customers delicious dishes of multiple nations.
 To earn huge income
 To maximise level of satisfaction of customers
 To reach their dishes to maximum number of customers of UK.
Mission:
The mission is to “ enhance the experience of customers by offering them delicious food
items of different nations”.
Target market
Customers are the main target whose needs and preferences decide the growth and
success of business therefore it is important for entrepreneurs to identify the market and analyse
the market conditions carefully so that further actions and plans should be formulated. Changing
in taste and preferences of customers may affect the success of restaurant therefore required to
consider such changes on regular basis so as to make changes in menu card as well in order to
attract them towards visiting Delish-on-the-go restaurant. The market is classified on the basis of
Geographic, Demographic, Psycho-graphic and Behavioural (Klotz and et. al., 2014).
Geographic: Such type of segmentation is based on the location where the new venture
has been started. As entrepreneurs preferred to such location where they get more crowd for their
restaurant. Thus, it an important decision that will be made after analysing situations exist in
locations carefully. For an illustration, London is an suitable location for new venture due to
having large number of people especially huge number of tourist which increases the chances of
achieving growth and success within shorter period of time.
Demographic: Such type of segmentation is based on religion, culture, gender, income
level etc. which affects the business activities a lot. Therefore, requires to analyse them carefully
and accordingly make an appropriate decisions and strategies to attract them towards restaurant.
For example, Teenagers and families shows more interest in visit at such restaurant where they
get delicious food of multiple nations. Therefore, strategies should be made for them.

Psycho-graphic: Such type of segmentation is based on lifestyle and personality of
people. For example, people of higher income group mostly likely to visit to restaurant order to
get taste of different nation’s food products and services.
Behavioural: Such type of segmentation is based on the behaviour, usage and decision
making pattern. For an illustration, teenagers will also shows more interest in preferring varieties
of food product offered by restaurant. Thus on the basis of which food product has been
marketed.
Competitive analysis:
Starting a new venture is not quite easy task as there are large number of competitor are
available in market which has operated their business for last so many decades. Therefore
completion is so high especially in food industry where large number of small-sized restaurant
are also there which gives tough completion to new business. Therefore, to sustain and
successfully established in market, an appropriate plans and strategies are essentially required to
be formulated by entrepreneurs of Delish-on-the-go restaurant. As they decide to start restaurant
in London Market in order to achieve huge customer strength but apart from this, there are large
number of competitors are also available such as The Led Bury, Liman Restaurant etc. All such
makes new restaurant difficult to exist thus need to make an effective decisions and plans in
making improvement in their menu car on regular basis so as to attract large number of
customers (Simon and Shrader, 2012).
P2: Specific tangible and intangible resources that required for a new venture
Resources are an essential need of every organisation irrespective of the size whether
small, medium or large which help them in executing business operations in more effective and
efficient manner. Therefore, to start new venture it must required to have adequate amount of
resources with the help of which all the further actions to be made. Resources can be classified
into tangible and intangible form. Tangible resources refers to an asset which are physically
available thus can be seen and touched. It includes employees, funds, land & Building,
Machinery etc. On the other hand, Intangible resources refers to such asset which cannot be seen
or touched but equal role in achieving growth and success of an organisation. Delish-on-the-go
offering multiple number of dishes to the people of UK thus requires to have sufficient human,
financial and other resources to facilitate customers in serving them delicious food products and
services. For example, producing delicious and healthy dishes requires a experienced cook to

meet customer’s needs and requirements. Such types of resources are briefly explained under the
following:
Tangible resources: It refers to such assets which are visibly present in an organisation
which includes equipments, human resource, Land and building, food products etc. thus playing
an important and valuable role in meeting customer’s needs and expectations. Among such
resources, funds are the main resources on the basis of which all further activities are executed
and resources are acquired. Therefore, it must required for entrepreneurs of Delish-on-the-go to
have adequate amount of money due to which they can hire or buy necessary resources to
execute business activities in more effective and efficient manner. Human resource are also an
important resources which gives maximum efforts in maximising the satisfaction level of
customers (Karadag, 2015).
Intangible resources: It refers to such asset which are not physically present but
contributes equally in the growth and success of an organisation. It includes trademarks,
goodwill, customer relation etc. It can acquired by an enterprise through performing business
functions in more effective and ethical way. For example, manufacturing quality and healthy
food product helps in retaining loyal customers for longer period and establishing good relation
with them as well which in result bring beneficial outcome to company. The customers can be
easily attracted towards restaurant having good image and goodwill in market thus it is important
for entrepreneurs of Delish-on-the-go restaurant to serve quality and delicious foods at an
affordable prices in order to maximise the satisfaction level of customers which help them in
achieving good reputation and good will in future. It is also important for new business such as
Delish-on-the-go restaurant to secure their new and innovative ideas from their rivals through
using different tools such as copyrights, trademarks, patent etc. due to which new business can
attain its own position in market through provide delicious food of multiple nations that makes
them different from their rivals (Yu, Chen and Nguyen, 2014).
Land on rent: Delish-on-the-go restaurant is opened in London near Soho theatre which
is public spot every day. To open the restaurant at this place owner of the organization has taken
the land on lease for 6 years. Business associates also have taken loan from bank of £80,00,000
set up the restaurant in this market place. Additionally it has taken cash amount from friends,
relatives, family members is around £20,00,000 with no interest rate. Organization has to pay

interest rate of £ 2 till the amount is not paid to the bank. Organization has kept certain legal
documents as mortgage for 6 years. It can taken back if the full amount is paid on time.
TASK 2
P3: Formulation of credible proposal to launch a new venture
The individuals can become a good entrepreneurs when they have sufficient skills and
capabilities to make an effective decisions and plans for the betterment of new venture. For this,
conducting survey or research about taste and preferences of customers helps in formulation of
better policies and plans so as to attract and influence the interest and buying behaviour of large
number of customers (Hulbert Gilmore and Carson, 2013). Further plan shall required to be
made by Delish-on-the-go restaurant in the following manner:
Executive Summary Delish-on-the-go is a new venture which is
established with an objective of serving
delicious foods of different nations so as to
attract customers easily across worldwide. It
includes chicken rice, tacos, Som Tam,
Masala dosa etc.
Company description An entrepreneur has decided to enter into
food market through starting a new restaurant
where multiple varieties of food items are
provided to the customers of London, UK.
The main objective of Delish-on-the-go is to
earn huge profit and capture large market
share of UK.
Market analysis Business environment is complex and
contingent in nature which consists of internal
and external factors. Such factors may either
make negative or positive impact on the
business operation of restaurant therefore
required to conduct SWOT and PESTLE
analysis by entrepreneurs in order to analyse

such influencing factors and accordingly
make further plans and decisions.
Financial protection Resources are an important element which
supports new venture in achieving growth and
success within shorter period of time.
Therefore, it must required for Delish-on-the-
go restaurant to have sufficient re Sources
such as funds due to which they can acquire
needed assets in performing business
functions.
Benchmarking Before executing business activities, it is
important to set benchmark for the owners
and employers in order to bring motivation
among them to give more efforts in fulfilling
their commitments. It directs the employees
to perform as per the standards which helps in
increasing satisfaction level of customers.
P4: Skills and capabilities required to launch a new venture
Apart form the resources, the growth and success of new business also requires an
effective formulation of plans and strategies which can made only if an entrepreneurs have
sufficient skills and knowledge. Therefore, it is necessarily required for an entrepreneurs to
acquire following skills in order to make their new business successful:
Management skills: It is essential for an entrepreneur to acquire management skills in
order to manage and control business activities in more profitable way. For example, allocation
of resources to specific area of activities where they ensure in getting profitable outcomes in near
future. Assigning roles and responsibilities to employees is also a part of management skills.
Therefore, with the help of such skills, restaurant can easily achieve growth within shorter period
of time (Gerasymenko, De Clercq and Sapienza, 2015).
Decision making skills: Business environment is full of complexity due to several
internal and external factors which may harm the decision of entrepreneur to start a new

restaurant. For this, decision miking skills are required to be present in an entrepreneur with the
help of which they can make an effective plans and policies in order to deal with such affecting
factors and run business more smoothly.
Leadership skills: Combined efforts always gives profitable result therefore an
entrepreneurs also requires to have leadership skills through which they can easily get work done
from their employees through providing them suitable training on regular basis.
Risk taking ability: Due to high competition in market, risk factor always arises which
affects the sustainability of any business. Therefore, an entrepreneur should required to acquire
risk taking ability with the help of which they can deal with risk factors and uncertainty in more
effective and efficient manner.
TASK 3
P5: Determination of promotional activities and channels for launching a new venture
In order to spread the information about the food products to maximum number of
customers across worldwide, entrepreneurs of Delish-on-the-go restaurant need to adopt different
promotional channels and tools which are briefly described as below:
Social media platform: It is an effective platform where the entrepreneurs can easily find
out and locate to their targeted customers and inform them about the varieties of food products in
order to attract and influence their interest and buying behaviour of customers. Social media
includes Facebook, Instagram Twitter etc. through which the entrepreneurs can easily invite
people of different nations to visit at their restaurants whenever come to London (Talebi, 2011).
Mobile Billboards: It is also an important tolls which help in grabbing an eye of
customers towards the products and services offered by restaurant. For this, the entrepreneurs
prepare a punch lines, logo, stickers etc. so that they can easily recognised in market.
Personal promotions: Such tools takes more time to attract but more reliable and
effective. The employees of Delish-on-the-go visited personally to the customers and invite them
to visit at their restaurants through distributing them pamphlets, brochures, catalogues etc. It will
make huge impact on the interest level and buying behaviour of customers thus become a
profitable tool.

P6: Formulation of appropriate promotional activities plan for both launch and pre-launch
It is essentially required for Delish-on-the-go to ado-pt an effective marketing tools and
techniques for both pre-launch of restaurant. As due to high competition and large number of
small restaurants having goo customer base thus it must required for entrepreneurs to spread the
news about the entrance of new restaurant in market so as to create interest among the customers.
Pre-launch promotion: This the preliminary stage before launching a opening party of
new restaurant. In this stage, an entrepreneurs should also required to give maximum efforts in
preparing their websites due to which they can provide sufficient information about opening to
media and products and services offered by them long with their benefits.
Launch: This is the time in which an entrepreneurs hosting a opening party at which
representative of all media are gathered in order to spread the information about restaurant in
market. Telecasting on television, advertisement on newspapers etc. will help in grab an interest
of customers to visit at such restaurant at once. Such opening party is the way of interacting with
customers through giving answers to the media's questions (Duggal and Sassoon, 2015).
TASK 4
P7: Monthly cash budget for the pre and after launch phase
Cash budget is essential to pre4are in order to identify the information about the amount
spend on each activities while performing for achieving desired target. It gives the data related to
inflow and outflow of cash in an organisation over the period of time. It guides and directs the
management to allocate funds in such an effective manner that will ensure them in getting
profitable result in return. Therefore, it is also required to prepare cash flow budget for Delish-
on-the-go for the launch of restaurant and an after 12-a8 months.
Cash budget of Delish-on-the-go restaurant before launch

Cash budget of Delish-on-the-go restaurant after launch
P8: An appropriate legal form for the venture
A legal form of an organisation to operate for the purpose of making important decision
with certain implications regarding use of resources as well as assets in more reliable manner
within an accounting period of time. Plenty of many types of legal forms in which organization

is operating by following necessary rules and regulations. It is useful for an organization to build
more positive based as per the mentioned situations under a given legal structures. According to
legal frameworks of entrepreneur that is having plenty of option to run their business activities in
various manner. Such as sole trader, partnership and companies. There are certain characteristics
of all these types of business organisations. Some of them are mentioned underneath:
Sole trader: As per this types of businesses which is operated by an individual or by
natural client. In this there is not any legal distinction among owners and business organizations.
It is known as one of the simple businesses that are operating for the purpose of increasing future
aims and objectives in more reliable manner. It has been analyse that owner any individual
company have unlimited debts towards its own companies which is having their entire control on
operations. Very minimal amount of investment is needed to start such kind of venture with
using less regulation requirement to implement their business.
Company: It is classified into private and public which are different with each other on
the basis of their nature of business activities. Business is separate legal entity from their owner.
There are many regulations are imposed by government which are required to adhere.
Partnership firms: When two or more person decide to run business mutually with an
objective of earning huge profits then it is called as partnership. It is formed through forming
partnership deed which contains all terms and conditions related with mutual agreement such as
sharing profit and loss ratio, capital investment etc. In this, the liability of partners are limited
up-to the capital invested by them in partnership firm (Launching a new venture, 2018).
In the present report, Delish-on-the-go restaurant start their business as partnership firm
as the large number of sources are available for funding. Also, due to having high competition in
market there are large number of chance of losses which is equally born by the partners which
reduce burden on single person. Also, different ideas are provide by partners helps in effective
decision making.
CONCLUSION
It has been concluded from the above project report that new venture can achieve growth
and success in new market only when the entrepreneurs have new ideas and concepts which
makes them different from their rivals. For this, It is important to identify the resources the
entrepreneur have at present and accordingly allocate them in order to utilise them in an

optimum manner. Implementation of marketing tools and techniques in order to spread news
about new restaurant into market will brings more beneficial result to company.

REFERENCES
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Online
Launching a new venture 2018. [Online]. Available through:
<https://www.exed.hbs.edu/programs/lnv/Pages/default.aspx>.