Detailed Business Plan: Launching a New Venture for Michael's Cafe

This report examines the launch of Michael's Cafe, a new venture in the UK market, focusing on market analysis, competitive strategies, and financial planning. The report begins with an introduction outlining the challenges of launching a new business and the importance of market research and competitive analysis. Task 1 delves into identifying the target market, conducting a competitive analysis using Porter's Five Forces, and evaluating tangible and intangible resources, culminating in a credible proposal for launching the cafe. Task 2 assesses the skills and capabilities needed for the launch, including leadership and communication, and evaluates how these can be developed. Task 3 explores promotional activities for both the launch and pre-launch phases, developing a promotional plan and critically evaluating different activities. Finally, Task 4 focuses on financial planning, including a monthly cash budget, and the applicable legal form for the venture. The report provides a comprehensive overview of the key elements required for successfully launching a new business venture.