Report on Launching Fumo Attico: A New Business Venture in the UK

This report provides a comprehensive analysis of launching Fumo Attico, a new business venture in the UK. It begins with an introduction outlining the importance of understanding business tools and strategies for success. The report then delves into the identification of the target market, emphasizing the importance of competitive analysis and understanding the business's position in the market. It explores both tangible and intangible capitals that aid in a startup, highlighting the significance of quality machinery and employee training. The report then presents credible suggestions for starting the new business, including an executive summary, company description, market analysis, and marketing strategy. Furthermore, it discusses the knowledge required by entrepreneurs, such as marketing, time management, and financial management. The report also covers promotional activities, including mass media channels and specific tools for effective promotion. Finally, it includes a monthly cash budget and discusses the appropriate legal forms for the business. The conclusion summarizes the key findings and recommendations for the successful launch of Fumo Attico.

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.
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.
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 is a one of the important task for an organisation which help to
increase profits and market position as compare to competitors in same industry. Through this,
firm are able to attract large number of customers toward company product and services that
enhance customer's satisfaction. There are various method of promotion which are used by
enterprises are advancement like newspapers, magazine, television, billboard, hoarding etc.
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Some other mode of publicity is charity function, sponsorship, organise public event and many
more (Hsieh and Wu, 2018). Management of an organisation select most appropriate method of
promotion according to their needs and wants. It is a manager responsibilities to conduct
research which helps to gather information related to customer's needs, preferences, wants,
attitude, motivation factors, spending capacities, income level and many more. They are
considering all element which help to analysis marketing environment in order to attain higher
position as compare to other at market place.
Product analysis: Management of an organisation has develop strategies and plan in
order to produce high quality product and services which help to enhance customer's satisfaction.
Before launching new commodities in industry is a important to analysis their demand and trends
or accordingly produce good which provide competitive advantage in industry. They make
attractive offers for buyers and implementing them at small scale, after this watch all growth as
well as outcome of strategies to know whether it has hill the target consumers or not. If yes then,
they are executing offer all large level as soon as possible but if not then they start working again
to develop another new plan to attracting large number of customers (Venkatesh, 2018).
Market analysis: It is a management responsibilities to analysis market trends and
current scenario which helps to make future planning. It is a one of the most crucial factors
because through this Fumo Attico has able to know their target location and analysis that this has
suitable for launching new good as well as venture in order to gain high customers attraction.
Through this, organisation has get information related to competitor’s strategies and plan.
Investigation of financial resources: Administration of the company has analysis their
financial capabilities in order to operate whole business activities in an effective ways. Thus
increase productivity as well as quality of product. Through this, firm are able to attracting large
number of customers because high quality goods can improve client’s satisfaction.
Apart from this, several element that an also affect the business are explain as follows:
Positioning: It is a one of the most important activities which run by organisation in
order to build strong positive brand image in customer's mind in long period of time. Fumo
Attico is used latest technology and innovative or tasty food to attract large number of customers
toward firm product and service.
Brand development: Fumo Attico develop brand image at customer's mind in order to
increase its value as well as equality as compare to their competitors at market place. Through
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this, firm gain competitive advantage at market place thus provide high profits in an effective
ways (Kwon, Ryu and Park, 2018).
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:
Year 2018 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 2,265 2,058 2,087 2,119 2,168
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Taxes/Benefits (15%
Wages)
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
(1%) 619 550 560 570 587
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
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