Fumo Attico: Detailed Report on Launching a New Venture in the UK

This report details the launch of Fumo Attico, a new business venture in the UK's food and beverage sector. It begins with an introduction highlighting the importance of market knowledge and entrepreneurial skills for new ventures. Task 1 focuses on identifying the target market (adults, families, and working-class individuals) and competitive analysis, including Porter's Five Forces. It also discusses the tangible (equipment, machinery, and training) and intangible capitals (trademarks and customer relations) essential for the startup. Task 2 provides a credible business plan proposal, including an executive summary, company description, market analysis (SWOT and PESTEL), and marketing strategies. Task 3 covers promotional activities and tools for both launch and pre-launch phases, and Task 4 presents a monthly cash budget and discusses the legal forms relevant for the business. The report concludes with a summary of the key findings and references used. The report emphasizes the importance of market research, capital management, and effective promotional strategies for the success of a new business venture.

Launching A New Venture

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 New business venture and identification of target market.....................................................1
P2 Few tangible and intangible capitals which may aid in doing start up..................................2
TASK 2............................................................................................................................................3
P3 Credible suggestion in order to start new business firm........................................................3
P4 Knowledge needed by entrepreneur while doing start up......................................................5
TASK 3............................................................................................................................................6
P5 Many promotional activities mass media channels that aid in promoting goods and services
.....................................................................................................................................................6
P6 Specific tools and techniques in order to select best promotional to while both launch and
pre-launch....................................................................................................................................7
TASK 4............................................................................................................................................9
P7 Monthly cash budget for launching new purpose with different time period........................9
P8 Specific legalised form and some suggestions in context to it............................................11
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
In modern world, it is must for every single person who is willing to launch a business fi
it is mandatory to get good knowledge about all the tools and technologies that are being used by
organisations who are already running their business at both domestic and at international level.
With the help of this, an individual can get high reputation in a short period of time (Davis,
2018). On the other hand accomplishing better achievement, business visionary set and also
grow new and imaginative thoughts for propelling another wander to accomplish positive results.
Alongside this, at the season of beginning another business people confront different issues and
issues towards showcase patterns, rivalry, development and culture. Every one of the variables
that are said above may negatively affect an association so it is critical that organization consider
these components so as to maintain their business in a successful way. With the assistance of
this, new firm effectively improve their gainfulness level at commercial centre. In this task we
need to choose Fumo Attico, is another business wander at UK. Exhibit report depends on
different assets which required at the season of propelling another business. Alongside this,
distinctive aptitudes and capacities are additionally break down in this report which may help in
accomplishing positive results. Furthermore of this, different mediums of advancement are
likewise talked about in this task which leads in making positive brand picture at commercial
centre. At the last, money spending plan is made by organization to examination their real
execution.
TASK 1
P1 New business venture and identification of target market
In UK showcase number of individuals begin their new pursuit with the motivation
behind achieving better development level. Essentially, half of the populace needs to maintain
their business for social affair bigger number of productivity (Gilliam and Mehta, 2018).
Alongside this, globalization is additionally a critical term which give number of chances to little
and new dare to create in new commercial centre for accomplishing higher development level. In
this unique situation, Fumo Attico begin their new business in sustenance and drink part in which
they serve assortment of nourishment administrations to their clients keeping in mind the end
goal to achieve their fulfilment. Alongside this, it is additionally critical for business association
to viably examination and also look at all the components that to a great extent affect its
operational exercises. With the assistance of this they effectively catch clients eye and in the
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meantime additionally accomplish bigger marker share. By breaking down all variables, firm
enhance their positive execution level with the motivation behind achieving upper hands.
As another business, Fumo Attico come in advertise with new and creative thoughts and
administrations in which they serve assortment of dishes to its clients for catching their eye and
enthusiasm also. With the assistance of this they make string client base inside their business
which may leads in expanding gainfulness level at commercial center (Davis, 2018). Alongside
this, there are some compelling components which assess by business to accomplish set
objectives and targets in fitting way (Stroe, Wincent and Parida, 2018). All these are as per the
following: Identifying particular target market: It is one of the essential component which utilized by
organization to decide the objective market with a specific end goal to create bigger benefits.
Fundamentally the primary of all the business association is to upgrade their marker share by
achieving better accomplishment at commercial center. In this unique situation, Fumo Attico
ought to distinguish the particular target advertise for delivering and assembling quality
merchandise promotion benefits according to clients request which may leads in
accomplishing better productivity level (Hsieh and Wu, 2018). In this unique circumstance,
the fundamental focus of chosen bistro on grown-ups, family and youngsters who are likes to
invest their energy in eatery and furthermore eats assortment of nourishment things (Gilliam
and Mehta, 2018). Alongside this, they additionally look at clients taste and inclinations to
welcome and also draw in vast number of clients towards the bistro and its administrations.
This will help in accomplishing better achievement in new commercial center. Alongside
this, Fumo Attico likewise target working class individuals in which they give their quality
nourishment administrations at reasonable value which may leads in achieving better
outcomes.
 Competitive analysis: Fundamental component which utilized by number of organizations
before propelling another wander. In this they should investigation all the market patterns
and another components so as to decide their positive and negative effect on business tasks
(Stroe, Wincent and Parida, 2018). Likewise of this, number of contenders are exist in
advertise who work and offer their same items and products at reasonable cost. In this
Starbucks is one of them which is greatest and well-known brand in UK. As they serve
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quality administrations to clients. In this for set up their positive image picture Fumo Attico
need to examination rivalry at showcase ribbon to improve their USP in fitting way.
For further competitive analysis, entrepreneurs of Fumo Attico have also used Porter’s
five force analysis as given below:-
Threats of New Entrants- As Fumo Attico launches its business in beverage sector,
therefore, there will be a high chances of new entrants. Because launching business in this sector
is much easy as compared to others due to less investment.
Bargaining Power of Suppliers- In context to Fumo Attico, it will offer a variety of
drinks and some fast food items. So, bargaining power of suppliers is not much high because
there are many suppliers available who are ready to supply such commodities on low cost.
Bargaining Power of Buyers- As people generally like to spent their quality time in such
bars and restaurants where they get good ambience and services on low cost. Therefore, there is a
high bargaining power of buyers that assist respective enterprise to offer its services on
reasonable and attractive discounts.
Threats of Substitutes- When people gets many options to satisfy their needs on
reasonable price then it will create threat of substitutes for organisations. Within food and
beverage sector, there is a high risk of substitutes like aerated drinks, coffee, fruit juice and more.
Therefore, there is a large threat of substitutes also.
Rivalry Among Existing Competitors- Due to intense competition with existing
competitors, there is a high chance of exit option for Fumo Attico. In this regard, it needs to
implement innovative strategies in order to get a competitive edge.
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P2 Few tangible and intangible capitals which may aid in doing start up
Top notch Fumo attico is new pursuit in UK advertise in which they offer quality
administrations to its clients according to their taste and inclinations. Alongside this they better
and additionally quality highlights inside their product offering keeping in mind the end goal to
fabricate best espresso to its clients (Venkatesh, 2018). For this they organization import
espresso beans frame another nations to make taste espresso which leads in catching clients
consideration towards the administrations. It specifically contribute in upgrading the productivity
level at commercial center. In this unique situation, there are two sorts of assets, for example,
unmistakable and impalpable which utilized by organization to keep up their maintainability at
commercial center and in the meantime likewise snatch number of chances to extend their
business exercises in best way. The two assets are as per the following:
Tangible resources: One of the imperative and viable physical assets which utilized by
business association to accomplish gainfulness level. It incorporates machine, land, building and
another advantages which may contribute in general accomplishment of the comp[any at
commercial center. In this specific situation, Fumo Attico utilize quality machines and types of
gear inside their assembling procedure so as to create quality administrations to its clients in best
way. Then again, organization likewise give better heading to their laborers like preparing and
advancement programs which may leads in improving their execution and efficiency too. With
the assistance of this representatives play out their best and achieve positive outcomes. Other
tangible resources include counter area equipment (ice machine, counter top, sink etc. with Euro
25k), serving area equipment (glasses, flatware, plates- Euro 3k), Office equipment (PC,
fax/printer, phone, furniture, file cabinets – Euro 36k)
Intangible resources: This component additionally consider as a critical assets which
utilized by the organization to make their positive image picture at commercial center. The
principle case of elusive assets are trademarks, clients relations and numerous more which is
basic for organization to improve their profitability level at commercial center. Fundamentally
this kind of assets are not in physical in nature but rather it exceedingly contribute in building up
solid brand picture (Kwon, Ryu and Park, 2018). In setting of bistro, they should center around
offering quality items and administrations to its clients which may leads in achieving positive
results by achieving set targets.
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Subsequently, the two terms are utilized by business association to set up their positive
image picture at commercial center, by these they effortlessly achieve long haul and here and
now objectives and goals in best way.
TASK 2
P3 Credible suggestion in order to start new business firm
For achieving positive results, appropriate proposition is more critical for business
association to deliver and in addition offer quality products and ventures to its clients (Mudambi
and Zahra, 2018). Alongside this organization need to give better data to its clients towards their
administrations which are serving in Fumo Attico. With the assistance of this, firm get number of
chances to welcome bigger clients and in the meantime likewise improve their piece of the
overall industry. In this unique circumstance, Fumo Attico get ready and additionally make a
proposition in which firm settled their image picture and achieve set objectives and goals in
suitable time allotment. This can be comprehended by following focuses:
Executive summary Top notch Treat Cafe works at little and neighborhood level and offer
different sustenance things yet they are spent significant time in chilly
espresso with frozen yogurts in various flavors. Other than this, they are
putting forth cakes, cakes, treats and so on., as complimentary.
Company
Description
Firm is new in showcase region and is situated in Elizabeth Street, 64th
Avenue, London. the compound is spread in around 2500 square feet. the
territory was reserved by the association one year back. Presently proprietor
of Fumo Attico are considering growing their business in different zones as
well. This will help them in expanding their deals and accordingly
improvement in benefit can be seen.
Market Analysis Before propelling their business in a specific market, delectable Treat is
thinking about every one of the elements that can hamper or help them
expanding their business in a proper way. For this, organization is directing
SWOT and PESTEL investigation and it will help them in knowing the idea
of market in a legitimate way.
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Marketing strategy With the adjustment in time, numerous market systems have advanced.
Hence, Fumo Attico id utilizing all these methodologies with the goal that
they can reach to greatest number of individuals (Khan and et. al., 2015).
Separated frame this, they are streamlining different mediums like web, web-
based social networking, promotion and so forth.,
P4 Knowledge needed by entrepreneur while doing start up
Enough aptitudes and information are more imperative for individuals for propelling
another wander in new market (Fenwick, Skultetyova and Vermeulen, 2018). Since without
these nobody can ready to maintain their business in smooth way. Alongside this, individuals
who are begin their new business having appropriate information towards the executing and also
figuring systems which may leads in accomplishing positive results in best way. With the
assistance of this bistro effortlessly upgrade their deals and benefit too in commercial center. In
this unique situation, there are some proper components which required for maintaining another
business are as per the following:
· Marketing and clients administrations: For influencing prominent to mark, it is
imperative for chief of the organization to having this sort of abilities in which they effortlessly
gather and in addition accumulate pertinent data about clients taste and inclinations. In this
unique situation, Fumo Attico serve their quality administrations to its clients by viably
actualizing better showcasing approaches which leads in improving general development of the
organization at commercial center. This will help in making clients base in best way.
· Time administration: It is one of the critical for supervisor to oversee time and whole
business exercises in compelling way. By having this sort of aptitude make fitting arrangement
which leads in achieving set objectives and destinations. What's more of this, it is critical for
director to execute all the business exercises according to suitable time premise and furthermore
give quality administrations in commercial center (Mudambi and Zahra, 2018). This will help
in achieving better outcomes which contribute in upgrading gainfulness level.
· Management of back: Enough money related reserve is more essential for business
association to play out their exercises and creating quality administrations for its clients. In this
way, it is essential for business association to assess necessity of the fund at the season of setting
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up new pursuit in commercial center. What's more of this, organization likewise actualize
budgetary procedures for planning spending which may leads in deciding the general execution
of the organization. This will likewise help in deciding the real prerequisite of the store.
· Better correspondence: Effective connection is more essential for business and its
specialists to successfully convey quality administrations to its client according to their
necessities. With the assistance of this representatives effectively speak with its objective clients
and give them data about organization administrations. Alongside this, by utilizing powerful
correspondence clients likewise get pulled in and impacts to expend organization administrations
which specifically contribute in expanding productivity level (Fenwick, Skultetyova and
Vermeulen, 2018) .
Project administration: It is a critical office which give clients taste and inclinations. In
which director take criticism and review in which organization effortlessly comprehend the
clients sees. Alongside this, they likewise decide every one of the methodologies which required
by venture to deal with every one of the exercises in best way.
Subsequently, all these are more vital variables which ought to be consider in their business
association to improve the productivity level at commercial center. This will contribute in
improving brand picture and piece of the pie also.
TASK 3
P5 Many promotional activities mass media channels that aid in promoting goods and services
Advancement is a critical action for each business association to advance their items and
administrations in commercial center. With the assistance of this another wander effectively
upgrade their general deal by offering quality administrations to its clients. Essentially,
advancement movement impact clients to purchase organization items and administrations in
successful way which specifically contribute in upgrading productivity level at commercial
center (Davis, 2018). In setting of Fumo Attico, they utilize new and creative limited time
exercises, for example, notice and numerous more to elevate their administrations to welcome
bigger clients towards the organization. What's more of this, Fumo Attico utilize web-based
social networking, web and their own online journals to illuminate their clients towards the
administrations. Alongside this, there are some another limited time exercises which utilized by
organization to catch bigger piece of the overall industry. Such special channels helps firms to
achieve extensive gathering of clients in a specific day and age and impact them to buy
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hierarchical contributions; it comes about upgrade of offers incomes and benefit of firms. It is
likewise at risk for enhancing brand picture of the organization at commercial center. Underneath
characterized a few special channels which are being utilized by Fumo Attico, for example,
Coordinate showcasing – There is ought to be executed direct correspondence with
clients with no contribution of go betweens is known as immediate advertising. Fundamentally,
it is utilized to convey association's messages to clients to whom it will delivered; it is at risk for
getting gigantic development for firms for long haul period. The principle strategy for coordinate
promoting is web that will add to make compelling connection with customers (Gilliam and
Mehta, 2018).
Attention – Most of corporate affiliations utilizes differing mediums keeping in mind the
end goal to oversee solid and positive relations with client. In spite of the fact that, there are a
few strategies through which firms get data about firms and its contributions too; it empowers to
raise mark picture of the organization in target advertise and create more steadfast clients for it.
Publicizing – It is known as a type of paid interchanges with a specific end goal to
advance items and administrations of the organization. Building up a promotion depends on
mission, cash, estimation, media and message. Numerous organizations utilize promotion experts
keeping in mind the end goal to help them to bless TV includes, ads should be possible through
daily paper, magazines, radio and so on.
Web based showcasing – It lets organizations to run specifically with clients. Web based
promoting should be possible through messages, web, official sites, web-based social networking
locales. There are different web-based social networking channels, i.e. Facebook, Twitter,
Instagram permits to take after clients and perceive their necessities and needs in the most ideal
way. It likewise oversee issues by rapidly reacting towards reactions or negative discernments
and in addition builds powerlessness for business mark (Stroe, Wincent and Parida, 2018) .
P6 Specific tools and techniques in order to select best promotional to while both launch and pre-
launch
Promotion activities are considered as the most important function of an organisation,
through which it marketing its products and services in vast area of marketplace. Therefore, to
reach targeted customers, every company adopt best techniques of marketing like promotional
campaigning, social media and advertising, direct marketing and more. These type of techniques
are mostly depended on amount of investment a company have for promoting its business in
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competitive area. In context with Fumo Attico, as in initial stage it operates at small level,
therefore, its managers need to adopt effective strategies within limited budget, at the time of
launch and pre-launch. It includes following main promotional techniques:
Visual identity and website creation with e-commerce capabilities: Using this
technique, Fumo Attico can create its visual identity on online platform by developing own
website. Here, it can provide entire information about quality of services, range of products,
discounts and innovative price strategies etc. to targeted audience. It can also allow customers to
online purchase by secure online payment methods and virtual shopping cart etc.
Social media and online promotions: This technique provides a large platform where
Fumo Attico can interact with customers and develop connection with them. It includes blogs,
Twitter, Podcasts, Facebook Pages etc.
TASK 4
P7 Monthly cash budget for launching new purpose with different time period
Setting up a financial plan is one of the critical action for business association to
executing every one of the exercises in fitting route for achieving positive results. Alongside this,
financial plan consider as a monetary reports which consider general cost, resources, liabilities et
centre (Mudambi and Zahra, 2018). All these are utilized by the organization at the season of
setting up their new pursuit in commercial center. Furthermore of this, financial plan characterize
real costs and salaries of the organization inside a particular time span. With the assistance of
this director of the organization effortlessly take future choice in best way. In this unique
situation, money proclamation of Fumo Attico are as per the following:
In this consider a proper cash budget for launch and pre-launch of new business venture
so Fumo Attico can prepare such budget including various aspects such as:
Pre launch cash budget
Pre launch
cash budget
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Cash Flow
budget
Particulars Jan Feb Mar Apr May June
Cash inflows
Marketing
Research
80000 20000 30000 20000 60000 40000
Resources:
Premises
Building
Equipment
Tools
Technology
Cost of HR
10000
0
80000 40000 110000 80000 80000
Total inflows 18000
0
100000 700000 130000 140000 120000
Cash
outflows
Specific
Products and
services:
Cost of rent
offices
Supply chain
2000 25000 15000 20000 12000 15000
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