Detailed Report: Launching the Dream Delicious Restaurant Venture

This report provides a detailed analysis of launching Dream Delicious Restaurant in London. It covers crucial aspects of entrepreneurship, including identifying target markets and conducting competitive analyses, along with determining necessary tangible and intangible resources. The report formulates a credible proposal for the venture, outlining the required skills and capabilities for successful launch. It further delves into promotional activities, including pre-launch and launch plans, alongside a monthly cash budget and the appropriate legal form for the venture. The report also includes an introduction, task-based analysis, and a conclusion summarizing key findings, providing a comprehensive overview of the venture's strategic planning and operational considerations, supported by references.

Launching a new venture

Table of Contents
INTRODUCTION ..........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Identification of specific target markets and competitive analysis........................................1
P2 Specific tangible and intangible resources that required for a new venture..........................3
TASK 2............................................................................................................................................4
P3 Formulation of credible proposal to launch a new venture....................................................4
P4 Skills and capabilities required to launch a new venture.......................................................5
TASK 3............................................................................................................................................6
P5 Determination of promotional activities and channels for launching new venture...............6
P6 Formulation of appropriate promotional activities plan for both launch and pre-launch......6
TASK 4............................................................................................................................................7
P7 Monthly cash budget for the pre and after launch phase.......................................................7
P8 An appropriate legal form for the venture...........................................................................10
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
There are many ventures are available in front of entrepreneurs through which they can
start their own business in market and earn profits through satisfaction of the demands of
customers. To attain success in their entrepreneurial ventures large number of skills are required
to have by the entrepreneurs which helps to understand the conditions in market and build
strategies according to them. There are many challenges and risks are associated with the
launching of new venture such as high amount of competition, lack of funds, lack of human
capital and experience, diversified market conditions and behaviour of customer’s etc. It has
negative impact upon the working of venture successfully and accomplishment of the targets
within stipulated period of time. Dream Delicious restaurant is a new venture which is going to
launch in London market in UK (Baron and Tang, 2011).
In the present report explain about, identification of the target market and competitive
analysis, determination of the specific tangible and intangible resources necessary to launch new
venture, formulation of credible proposal to launch a venture, skills and capabilities which are
required to successfully start new business and different promotional activities and channels
which are important to advertise their offerings in market. Also, development of the promotional
plan before an after the launch of venture, formulation of cash budget pre and after launch and
legal form of venture.
TASK 1
P1 Identification of specific target markets and competitive analysis
Dream Delicious is a restaurant which is decided to launch in London market with
multiple cuisines. There are large number of different dishes and services are provided by
restaurant to attract customers such as Thai, Spanish, Chinese, Continental, Sea food etc. The
idea to launch a new restaurant is most preferable option because it is observed that large number
of people liked to have their dinner in restaurant. The most preferable place to locate the
restaurant is near to London Eye which is popular tourist destination and large number of tourists

are visit there on regular basis. This situation is beneficial for new restaurant is to effectively
survive in the market through providing their different offerings.
The restaurant is formed as partnership which is named as Dream Delicious restaurant.
For its effective establishment they acquire land around 1500 square feet near London Eye on
lease of 5 years for continuous operations of their business without any hindrance. There are
large number of funds are arranged by the partners of restaurant from different sources own
capital and bank loans which around £ 340000 to 349560.
Objectives
 To capture large market share
 To provide good quality food items
 To earn large number of profits for the benefit of shareholders
 To Build good brand image in market to influence behaviour of customer’s
Mission: “ To provide fresh and good quality food items which are healthy for customers
and satisfaction of their preferences through diversified cuisine offerings”.
Target market
It is important concept which is required to effectively analyse by entrepreneur before
straining their business activities. If the target market is known then it is possible to assess the
trends and consumer behaviour according to which effective plans and strategies are framed to
attain competency their in their operations. The market is segmented on three basis which are
known as Demographic, Geographic and psycho-graphic (Bijker and et. al., 2012).
Demographic: This will includes the segmentation of the market on the basis gender,
age, marital status, education, religion, income level etc. This will helps to improve the
understanding about the target market conditions to making crucial decisions. For ex, on the
basis this segmentation they provide more preference to the income level and age factor because
the youth is visit restaurant in large numbers.
Geographic: This will includes the process under which the market is segmented on the
basis of location. It helps the entrepreneur is to assess the needs or customer’s which are prevail
in different locations and countries. For ex., as per this they select the best place to setup their
restaurant in near London Eye where common trend is prevail as large number of tourists visit
with different preferences.

Psycho-graphic: Here, market is divided on the basis of socio-economic class,
personality or lifestyle preferences. Here, they provide more focus on middle class families.
Competitive analysis
This analysis provides the information about the competitors which are present in market
and having good business operations already. From the analysis of the market, observed that
large number of restaurants are operating their businesses in London such as The Led bury, Bar
61 Restaurant, Liman restaurant etc. All the competitors have well established operations and
large customer base. To attain competitive advantage in market Dream delicious restaurant is
required to focus on their multiple cuisines and quality which helps to influence the behaviour of
customers.
P2 Specific tangible and intangible resources that required for a new venture
There are many resources which are required to arrange in suitable form within stipulated
period of time to effectively establish the business operations of new venture. Such resources are
classified into two categories such as tangible and intangible. There is huge importance of these
resources in the process of providence of their functions in effective manner. Tangible resources
are such which are present in physical form such as employees, funds, land, equipments, food
items, etc. On the other hand intangible resources are such which are important to provide
services but can not be seen. Dream Delicious is a restaurant which provides multiple cuisine
like Thai, Chinese, Spanish, Sea food etc. Also, they provides the service of Take-away which is
best suited according to the situation which is present where they going to start business. It is the
duty of the partners of the restaurant is to effectively allocate all the resources and optimally
utilise them in achievement of predetermined targets. The different kind of tangible and
intangible resources which are required is defined below:
Tangible resources: This includes the description about such resources which are
present in physical form and contributes their efforts in effective implementation of restaurant in
market (Burns, 2017). Such different type of resources which are to start the business of
restaurant in tangible form includes land and building, furniture, employees, funds, food
materials etc. One of the important tangible resource is fund which is required to have in
adequate amount to acquire all other resources. This will improve the internal strength of
restaurant which helps in attraction of the large number of customers. Availability of different

food items contributes in the process preparation of multiple cuisine with high quality for
satisfaction of the demand of customers (Launching a new venture 2018.).
Intangible resources: Intangible resources are such which are not present in physical
form but having the large contribution behind the success of the new entrepreneurial venture.
The different aspects which are considered under intangible assets includes trademarks, culture,
customer relation, goodwill etc. Also, in the operation of new business some new ideas and
technologies are evolved which are required to secure with the helps of different intellectual
property rights such as copyrights, trademarks and patent etc. It is considered as the intangible
resource which prevents the innovation of restaurant which they bring in the taste and quality of
their food. Branding is the important aspect which includes use of symbol or marl through which
restaurant is easily recognised by the customers in market. It helps to build their separate identity
in the market through which they can attain competitive advantage and improves the chance of
success of entrepreneurial venture. There are large number of benefits which are associated with
the intangible resources which are gathered by the cited restaurant like identity in market,
employees participation, goodwill etc. Dream Delicious restaurant is required to adopt customer
relationship approaches as it helps to build effective bond with them. Attainment of the trust and
loyalty of customers contribute in their retention for longer period of time ( Caselli and Negri,
2018).
TASK 2
P3 Formulation of credible proposal to launch a new venture
To have an launching an new venture, it is required to have an appropriate plan in better
way. Owner does feel that they need to produce an effective plan that does help in achieving
targets and goals in better way too. Planning must be made in such a way that ensure proper and
unique change which do help in having an gaining of goals and objectives with better outcomes
too. Moreover, in Dream Delicious Restaurant, plan should be there in effective manner that
include all the undertaking in right format with having an specific details as:
Executive Summary Dream Delicious is such which deal in with variety of products to
customers like, burgers, sandwiches, pastries and ice cream too and
many other items.
Company description Entrepreneur is having an mind set of providing an innovative and

creative products and dream Delicious restaurant provide foods and
beverages to customer in better way. Even though it will be open in
London Streets near by London Eye. This place is chose because to
earn higher income and revenues in great and efficient manner.
Market Analysis To run a business it is needed concept to have an effective strategies
and decision. Entrepreneur thinking to expand business for which
market analysis is mandatory concern. For such SWOT and PESTLE
analysis is better option to study the environment.
Financial projection For having an launch in proper way, it is required by owner of Dream
Delicious Restaurant to have an accurate funds and capital, so smooth
functioning can be there. Basically finance is the first step of every
new launch business.
Benchmarking By setting an benchmark by owners can make them to work hard and
meet up with set standard. It make them to work according to set
standard also help them to satisfy customers in effective way although
( Fernhaber and Li, 2013).
P4 Skills and capabilities required to launch a new venture
Behind the success of every venture there is not only the support of tangible and
intangible resources but also the skills and capabilities of entrepreneur plays an important role to
effectively carry out the different operations of new business effectively. Such skills provides the
opportunity to think different in risk situation from ordinary people and adopt appropriate
solutions for removal of such problems. Good skills in the entrepreneur provides the extra edge
to their personality which helps to get new and innovative ideas to accomplish their desired
goals. Such different type of skills and capabilities which are required to have by the
entrepreneur is defined below:
Ability to manage money: Money is the important aspect which is necessary from the
planning stage to its execution. At the time of launching a new venture large amount of funds are
required and sources are limited. So, the skill of entrepreneur regarding effective management

and allocation of fund is important to carry different with effectiveness and efficiency
(Hmieleski, Cole and Baron, 2012).
Ability to raise money: Funds are requited to each and every stage of business and it is
not possible to start the business through their own investments. In this regard, to become
successful entrepreneur required to have convincing skill through which they can raise funds
from different sources easily like banks, financial institutions, investors, private funders etc.
Ability to identify strengths and weaknesses: To become successful entrepreneur need
to assess strengths and weaknesses which helps to improve their understanding about their future
decision making. It provides the opportunity is to use their strengths in right areas to garb
optimum results and strategies are made to overcome from weaknesses.
Risk taker: In the process of starting new business large number of challenges and risks
are arise which impacts the performance in negative manner. So, to attain success in their
business entrepreneur is required to have the skill of risk taking this helps to keep clam in
difficult situations and take effective decisions.
Leadership skills: It is important to have leadership skills by the entrepreneur which
helps to motivate the other employees to provide their best in organisation. This helps in
formation of good teams within the organisation to accomplish the targets within given period of
time (Kariv, 2013).
TASK 3
P5 Determination of promotional activities and channels for launching new venture
There are many promotional options and channel are available which can be used by the
Dream Delicious restaurant for advertisement of their offerings in market. Such different kind of
options which they can use are defined below:
Social media platform: There are many social media tools are available which can be
used by the restaurant to advertise their different type of products in services in UK market. This
will includes Facebook, Instagram, Twitter etc. It is most important because it helps to easily
reach towards their target market customers which are youth generation.
Mobile Billboards: effective promotional tool which can be used to gather the attention
of customers through providing the information about the restaurant in innovative ways which is

unique from others. It includes use of punch lines, stickers, logo etc. It helps to create separate
identity (Klotz and et. al., 2014).
Personal promotions: This will includes the use of tactics such as distribution of
catalogues and brochures for promotion of their business between local community. The
importance of this method that it creates face to face interaction with customer’s through which
easily gathered their preferences and views. It helps to build effective bond with customers
through which they can attain their trust and loyalty.
P6 Formulation of appropriate promotional activities plan for both launch and pre-launch
It is important for Dream Delicious restaurant is to design different promotional activities
for both pre launch and launch of restaurant. It is important for them because high competition is
prevail in market and many big restaurants having good customers base. So, such launch events
provides the opportunity is to create the interest of customers towards opening of their new
restaurant (Kuratko and Hornsby, 2017).
Pre-launch promotion: This will includes the process under which activities are
designed before the launching of restaurant. It includes preparation of websites through which
they can communicate with their customers and provide information about their products,
services, price etc.
Launch: At the time of decided to host a opening party where media representative and
celebrity is invited to garb high attention of public. Through invitation of media representatives
the news is published on newspapers and telecast on television also which creates their
popularity among individuals. Such grand opening parties provides the opportunity to attach
effectively with customers at very initial stage (Morris, 2015).
TASK 4
P7 Monthly cash budget for the pre and after launch phase
Cash budget provides the information regarding regarding the amount which spend on
different activities while performing for the accomplishment of targets. It provides the data
regarding the inflow and out flow of cash in an organisation over the period of time. It provides
the opportunity to the management of restaurant is to effectively manage cash to effectively

perform daily functions in proper manner. It is necessary to Dream Delicious restaurant to
formulate the cash budget before the launch of restaurant and after first 12-18 months ( Read and
et. al., 2016).
Cash budget of Dream Delicious restaurant before launch
Year 2015 Jan Feb Mar April May
Food Sales amount 42,152 42,563 43,526 43,568 44,124
Beverage Sales 19,751 12,451 12,456 13,452 14,528
GROSS SALES (Total) 61,903 55,014 55,982 57,020 58,652
COGS
Food 14,525 14,046 14,364 14,377 14,561
Beverage 6,515 3,113 3,114 3,363 3,632
GRAND TOTAL 21,040 17,159 17,478 17,740 18,193
GP 40,863 37,855 38,504 39,280 40,459
General and
Administrative
Workers Salaries 15,476 13,754 13,996 14,255 14,663
Management Salaries 3,400 3,400 3,400 3,400 3,400
Employer
Taxes/Benefits (15%
Wages) 2,265 2,058 2,087 2,119 2,168
Employees
Compensation (6%
Wages) 1,133 1,029 1,044 1,059 1,084
Advertisement 800 800 800 800
800
Bookkeeping 150 150 150 150 150
Credit Card Charges 619 550 560 570 587

(1%)
Insurance 250 250 250 250 250
Legal and Professional
Fees 100 100 100 100 100
Misc. Other 250 250 250 250 250
Office Supplies 175 175 175 175 175
Rent 3,200 3,200 3,200 3,200 3,200
Repair and
Maintenance 300 300 300 300 300
Small Equipment 200 200 200 200 200
Telephone [phone]
Garbage 200 200 200 200 200
Utilities 1,200 1,200 1,200 1,200 1,200
Total Gen. and Admin.
(Fixed) 29,867 27,766 28,062 28,378 28,876
NET PROFIT OR LOSS 10,996 10,089 10,443 10,901 11,583
SBA Loan 3,582 3,582 3,582 3,582 3,582
Cash Flow After
Financing 7,414 6,507 6,861 7,319 8,001
Draw 4,000 4,000 4,000 4,000 4,000
Net Cash Flow 3,414 2,507 2,861 3,319 4,001
Accumulated Cash
Flow 5,921 8,782 12,101 16,102
Average Daily Sales /
22 days 2,814 2,501 2,545 2,592 2,666
Cash budget after first 12-18 months
June July Aug Sept Oct Nov Dec
YTD
2013

44,325 44,658 45,210 45,325 46,251 46,325 47,125 5,35,152
15,574 15,487 16,421 16,251 17,452 17,245 17,845 1,88,913
59,899 60,145 61,631 61,576 63,703 63,570 64,970 7,24,065
-
14,627 14,737 14,919 14,957 15,263 15,287 15,551 1,77,215
3,894 3,872 4,105 4,063 4,363 4,311 4,461 48,806
18,521 18,609 19,025 19,020 19,626 19,599 20,013 2,26,021
-
41,379 41,536 42,606 42,556 44,077 43,972 44,958 4,98,045
- - - - - - - -
14,975 15,036 15,408 15,394 15,926 15,893 16,243 1,81,016
3,400 3,400 3,400 3,400 3,400 3,400 3,400 40,800
2,205 2,212 2,257 2,255 2,319 2,315 2,357 26,618
1,102 1,106 1,128 1,128 1,160 1,158 1,179 13,309
800 800 800 800 800 800 800 9,600
150 150 150 150 150 150 150 1,800
599 601 616 616 637 636 650 7,241
250 250 250 250 250 250 250 3,000
100 100 100 100 100 100 100 1,200
250 250 250 250 250 250 250 3,000
175 175 175 175 175 175 175 2,100
3,200 3,200 3,200 3,200 3,200 3,200 3,200 38,400
300 300 300 300 300 300 300 3,600
200 200 200 200 200 200 200 2,400
150 150 150 150 150 150 150 1,800
200 200 200 200 200 200 200 2,400
1,200 1,200 1,200 1,200 1,200 1,200 1,200 14,400
29,256 29,331 29,784 29,768 30,416 30,376 30,803 3,52,684
-

12,122 12,205 12,822 12,788 13,661 13,596 14,155 1,45,361
3,582 3,582 3,582 3,582 3,582 3,582 3,582 42,984
8,540 8,623 9,240 9,206 10,079 10,014 10,573 1,02,377
4,000 4,000 4,000 4,000 4,000 4,000 4,000 48,000
4,540 4,623 5,240 5,206 6,079 6,014 6,573 54,377
20,643 25,266 30,505 35,712 41,791 47,804 54,377
2,723 2,734 2,801 2,799 2,896 2,890 2,953
P8 An appropriate legal form for the venture
There are many types of legal forms under which which organisation is established
through fulfilment of conditions. It is helpful to build organisation structure more strong as per
the conditions provided under different legal structures (Robb and Watson, 2012). As per such
legal structure entrepreneur has the option to start the business activities in three different forms
known as sole proprietorship, partnership and companies(Private and Public). The characteristics
which are prevailed under all the three types of business form are defined below:
Sole proprietorship: It is a type of business which is started by the single person and
considered as the sole owner of business. Owner of business have unlimited liability towards
their business and having full control over operations. Less amount of funds are required to start
such kind of business along with less regulatory requirements. The single owner is bear all the
losses solely.
Partnership firms: One of the effective way to start the business activities is in the form
of partnership. This will includes the starting of business by two or more person by having an
agreement to accomplish particular objectives and earn large number of profits. The liability of
all the members is limited up to the amount of capital which they takes with themselves in the
firm. The profit and losses which are earned by them are equally distributed between all of them
or with predetermined ratio (Simon and Shrader, 2012.).
Company: This will includes the formation of organisation in the form of private and
public as per 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.

In the present report, Dream Delicious 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 report that to successfully start the new venture
required large number of different sources such as funds, skilful employees etc. Also,
entrepreneur is required have skills and capabilities which helps to asses the market trends and
attain flexibility in their structure. Through successful use of resources Dream Delicious
restaurant is launched in UK market. The sources from the funds are raised includes bank loans,
own investment, friends and family etc. There are many types of legal forms of entrepreneurial
ventures which are known as sole proprietorship, partnership, private companies etc. The huge
role is played by the promotional activities in attraction of large number of customer as it helps
to spread the awareness about their offerings to the customers of their target market.

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Online
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