Detailed Report on Launching a New Venture: Shine Travel Agency

This report provides a comprehensive analysis of launching a new travel agency venture, specifically focusing on Shine Travel Agency. It begins with an introduction to the concept of new ventures and the challenges involved. The report then delves into the identification of specific target markets, competitive analysis, and the importance of tangible and intangible resources. A credible proposal for launching the venture is presented, including a company description, market analysis, marketing strategy, and financial projections. The report also outlines the skills and capabilities required to successfully launch a new venture, such as project management, bookkeeping, leadership, and presenting. Furthermore, it explores different promotional activities and channels, developing an appropriate promotional activities plan. Finally, the report includes an itemized monthly cash budget for the pre-launching phase and discusses the legal form of the venture, concluding with a summary of the key findings and recommendations.

LAUNCHING
A NEW
VENTURE

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Identification of specific target markets and undertaking competitive analysis for new
venture.........................................................................................................................................1
P2 Tangible and intangible resources.........................................................................................2
TASK 2............................................................................................................................................3
P3 Credible proposal to launch new venture...............................................................................3
P4 Skills and capabilities required to launch new venture..........................................................5
TASK 3............................................................................................................................................6
P5 Different promotional activities and channels.......................................................................6
P6 Develop and appropriate promotional activities plan............................................................7
TASK 4............................................................................................................................................8
P7 Itemised monthly cash budget for pre-launching phase........................................................8
P8 Legal form of venture..........................................................................................................10
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
Launching of new ventures is an basic term which include to introduce fresh concern in
market at global level by tools or techniques of entrepreneurs. It will usually results in facing
new challenges which should be overcome by putting potential efforts so that organisation will
attain high rate of success. As per learning and training, the interaction with different teams or
group of executives facing similar situations of market and try to tackle with them (Baron and
Tang, 2011). Proper information gathering is necessary to prepare anything in better way for
gaining success. It is necessary to generate appropriate skills, capabilities and leadership
qualities to make sure the profit is not compromised at any cost. This report is based on shine
travelling agency which deals in travel and tourism and provide essential services and products
to people. They have an aim to serve their clients in appropriate manner and make client's
journey more comfortable as well as enjoyable. This assignment will described about
determining target markets for new venture through analysis of all intangible and tangible
resources. Various kind of promotional activities for making new business more popular in short
period of time which are necessary to conduct in this report.
TASK 1
P1 Identification of specific target markets and undertaking competitive analysis for new venture
Shine travelling agency is a firm who provide various kind of products or services to
make trips of people more comfortable. It is important for them to build new innovation and
creations to build a better image of the company. This firm has several aspects by which they
serving to desired clients to prepare their travelling better in case to render proper airlines
service, other convenience, staying facility and so on (Bijker and et. al., 2012). They are trying to
make all possible products or services more satisfactory at reasonable prices so that their desired
customers can easily afford. It will facilitate to attract new consumers and current clients towards
organisation.
There are various kind of factors which are setted by this firm and are given below:-
 Objectives:- This term can be described as the several goals and targets of the
organisation which are needed to be completed by putting different essential efforts. It is
important to render enjoyable qualities in trip time. These are necessary too render a

target towards which employees will have to put their performance to achieve better
outcomes.
 Mission:- This term may defined as short period targets of firms which should be
completed in specific time like projects or contracts. The firm shave to work on its own
business area to facilitate proper habitat of working to complete missions. They have to
assure about products to be gain satisfaction of people.
 Keys to success:- They have to make strategies for excellence in completion of promises
and render response at correct time. It is significant to make policies and implement only
those which has fruitful and solid results for company (Burns, 2017).
Target market:- They have target of attaining high income and health conscious
individuals to work hard and active response to customers in vacations. This firm has targeted
basically on youth of the country and renders adventurous visiting to them. This firm is able to
serve enjoyable trips for them at reasonable prices so that it will help to attract more customers
and try to retain them as well.
Competitive analysis:- In current scenario of market, there are different kind of
competitors who has their own dissimilar strategies or policies to make their company more
popular amongst tourists. These companies have to put efforts in such manner so that they
become able to provide various kind of products or services during trips are more satisfactory for
them. By this, people stuck to particular travel agency as per their quality of performance
regarding the travelling services. Competitors are always ready to distract the clients of another
firm by launching several new or unique ideas but it is necessary for Shine travelling agency that
they have to observe regularly ion strategies of their competitive firms in market along with
changing trends.
P2 Tangible and intangible resources
There are different kind of resources which are necessary for carrying out all possible
activities and procedures of organisation to render an appropriate service to travelling customers
(Caselli and Negri, 2018). It includes several sources such as money, equipments, machinery,
raw material and so on. Such types of resources are also essential for Shine travelling agency for
carrying out certain important aspects more properly to provide better services to people to gain
their satisfaction. These can be divided into two parts which are given below:

Intangible resources:- This term may refers to all those sources which can be touched
and observed such as including intangible products like travel, insurance, repair, consulting, soft
wares, freight forwarding, education, accounting. Resources in this aspects can involve culture of
firm, relation between employees and connection with customers. It involves that products that
are intangible are shown in exactly different picture in front of people. The sales executive are
capable to research directly and usually on client's premises, trying to understand complicated
networks and interconnecting operations (Fernhaber and Li, 2013). It also includes buying
promises, significance of expressions etc. which are important to make a customer to purchase
the package of tourism repeatedly from same company due to their satisfaction. The examples of
intangibles resources are brand value, trademark, patent, copyrights etc.
Tangible Resources:- These resources are those one which can be touched and observed
or tested by people before using. This kind of product are generally developed by design
professionals. are generally performing under situations of benign isolation after receiving
direction from market intelligence experts, scientists and others. For example, if a person is
purchasing any particular product whose tangibility is as palpable as primeval rock. And that
client give permission after checking it and extensive negotiation to that costs which runs into
millions of dollars. Examples of tangible are funds, raw material, equipments, machinery etc.
The above mentioned aspects of intangible and tangible resources concluded that there is
need of both in an organisation such as Shine travelling agency to conduct all necessary tasks. It
is important to maintain various kind of sources in company so that they become able to carrying
out and run a travelling enterprise more successfully. They have to establish an effective as well
as efficient way of resources by which they can conduct every process to make satisfactory
products and services (Hmieleski, Cole and Baron,2012).
TASK 2
P3 Credible proposal to launch new venture
There are various kind of travelling agencies who are providing better services to
customers in which different aspects are included. These are airline tickets, making hotel and
resort reservations, creating itineraries for tour or cruise packages. The Shine travelling agency
has different packages as per various types of rendering knowledge about particular tourist
places or historical destinations. It is necessary to have information about travel agent

techniques, client service experience and learning factors of different parts of at global level. A
business proposal for Shine travelling agency is as follows:
Executive summary Shine travelling agency is a kind of venture as
small firm which is established to render
product and services of travelling and tourism
to customers.
Company description This firm is type of small company which is
included in travel and tourism venture. They
have analysed necessary gain essential
knowledge records of previous scenarios and
then establish an effective venture to achieve
more profits.
Market analysis In respect to enhance travel and tourism
business they are focussing on youngsters as
they are providing several tour packages of
many adventurous activities there. They have
to conduct SWOT and PESTLE to undertake
necessary factors.
Marketing strategy They have an aim of build different effective
strategies and policies to carrying out essential
promotional activities in correct manner to
establish significant procedures by which they
are bale to make better productivity as well as
profitability (Kariv, 2013).
Economical projections The new venture have to establish various
aspects related to funds and money which are
needed to allocate for different activities to
conduct them for generating more profitable
outcomes.
Benchmarks They have to follow that particular

organisation for making successful strategies
and policies to carrying our processes to run a
business efficiently.
The above mentioned is proposal for a new launching venture in which its considered that
to observe and analyse current scenario that particular industry. This will facilitate to make
several important events and procedures to carrying out business in successful manner for
creating appropriate outputs.
P4 Skills and capabilities required to launch new venture
There are various kind of skills and capabilities are required for launching a new venture
to manage a business in more effective as well as efficient manner. These abilities are important
to make better strategies and policies for carrying out necessary aspects of any organisation.
Different qualities are necessary to focus by Shine travelling agency are given below:
Project management:- This term can be described as that capability to efficiently
manage various projects (Klotz and et. al., 2014). It may involve to determine possible objectives
in order to generate outcomes by managing available resources in company. Projects are
generally bears difference size and as per that firms have to build different strategies to
conducting necessary procedures for completing it. In case of Shine travelling venture, they have
to create their attractive tourism packages at reasonable prices which are easily affordable by
desired customers. It is important to manage resources involving period of time, funds and
employees to make sure that they are able to complete their target of outcomes.
Book keeping and accountancy:- It is well known that every small and large
organisation has its separate account department. They have roles and responsibility to maintain
records of all debits and credits of company in accurate manner. This will facilitate to build
appropriate forecasting, predictions and able to completing end of year reports for revenue and
customs. It is essential to build potential of profits and loss projection and cash flow forecast the
requirement of capital to be implemented tin firm in accurate manner (Kuratko and Hornsby,
2017).
Leadership:- It term refers to a kind of skill which is essential to direct staff members in
correct way to attain better outcomes in company. It is important for human resource team to
conduct several events by which they can encourage and invigorate employees to perform their

best. This will facilitate to improve regular incomes which results in improving productivity as
well as profitability of the organisation.
Presenting:- This may refers as that criteria in which starting a new venture which is
almost certainly have to give presentation in impressive manner. It is quite difficult to address
public and present the product to convince them. It seems to be essential to build self confidence
and skills to provide an effective information about goods or services.
TASK 3
P5 Different promotional activities and channels
There are various kind of promotional activities which can be organised to promote the
product and services by company. As it is an essential aspect to conduct several advertising
activities by which an organisation become able to improve it profits and sales. The Shine
Travelling agency have to determine effective channels work best for business and performing
on them to improve in forward direction. Some of advertisement channels which may beneficial
for Shine travelling agency that are described below:
Display Advertising:- This kind of advertisement is involving specifically designed
graphical promotions and placing them after the content displayed on websites, e-mails and other
digital messaging applications (Morris, 2015). It may includes several examples such as videos,
audio, text animations and many other attractive or interactive content. In these promotions,
firms are generally assigned brand ambassadors like some celebrities which results as more
effective activity to increase sales. It is so because these celebrities has lot of fan following
which directly converts into customers of particular company by making them brand
ambassador. The display marketing is not only helpful to promote new products or offers but
increase online presence and reach of desired customers. It may drive leads and improve brand
awareness too.
E-mail Marketing:- It is described as those advertisements which are dropped by
companies on mails of people regarding their product and services. It seems to be an essential
method for attracting new clients along with retaining current ones. It is quite easy and not very
expensive as they have to maintain just a software and drop these mails by a particular system
from their specific office or manufacturing place. It helps to save expense of travelling,
conducting campaigns and more equipments to display it at different places. Sometimes these

become irritating then they have to balance the time of displaying that to reduce irritating factor
and enhance attractiveness.
Social Media Marketing:- It may includes various social networks such as Facebook,
MySpace and Linkedln, blogs, micro blogging websites like Twitter, forums, wikis or open
encyclopedias, content communities like Flickr and Youtube or Podcasts. These are all involved
in preparing of networks by allowing users to connect with one another. These are all social
media tools which are effectively utilised by new ventures to motivate people for providing
feedbacks so that firms can improve their product or services in desired manner to gain client
satisfaction. This mode is significant way to promote brand or company and establish a healthy
and efficient connection with customers.
Affiliate marketing:- This can be described as performance based marketing which
basically involves the owner of company and websites or affiliates. They have to an important
role in case of goods or services in exchange for percentage of profits. It contains three modes
such as Pay Per Click, Pay Per Scale or Pay Per Lead in which firms can choose any one of
them. According to this, company need to pay only then when an agreed action occurs (Read and
et. al., 2016).
The above mentioned methods of marketing channels are very beneficial to companies
for promoting their product and services. By this they become able establish business more
effectively along with attaining better growth of organisation.
P6 Develop and appropriate promotional activities plan
Promotional activities should be conducted by Shine Travelling agency to promote
product and services which results in attaining better profits of company. It is important for
organisation to prepare a plan of marketing for new venture. These procedures are extremely
beneficial in increasing sales and profits of the company. Several steps must be followed by
Shine Travelling Agency to make launch and pre-launch which are given below:-
Pre-launch promotion:- This step is important in which the forms have to prepare plan
of pre launching page or websites before introducing fresh venture. There are various tools and
channels by which organisation are bale to promote their new business in appropriate manner. At
the very beginning of establishing anew venture it is requited that firms have to provide
information to people about launching. It is necessary to organise several procedures to like
make people aware through websites, emails, blogging and articles.

Launch promotion:- It includes that success of beginning any new business is a very big
challenge for launcher. Then it seems to be important because its approach is to marketing so
that they are required to make certain potential strategies or policies as per marketing budget of
company. This can be done through observing and analysing different aspects which are essential
for organisation in order to establish it more successfully.
The above mentioned factors such as launching and pre-launching should be organised by
making proper plan through effective strategies and policies. The new ventures have to make
awareness amongst people so that company should be setted at particular place successfully
without having any huge failure in carrying out different activities to gain desirable outcomes.
These are become able to gain growth at beginning by looking forward for organisation.
TASK 4
P7 Itemised monthly cash budget for pre-launching phase
The itemised cash budget of whole plan which should be prepared in appropriate manner
so that firm gain support to carrying out launching and pre-launching activities in that particular
phase. A described cash budget that is given below:
Year 2013 Jan Feb Mar April May
Food Sales 42152 42563 43526 43568 44124
Beverage Sales 19751 12451 12456 13452 14528
GROSS SALES 61903 55014 55982 57020 58652
Cost of Sales
Beverage 6515 3113 3114 3363 3632
Food 14525 14046 14364 14377 14561
TOTAL COST OF SALES 21040 17159 17478 17740 18193
GROSS PROFIT 40863 37855 38504 39280 40459
General and Administrative
Repair and Maintenance 300 300 300 300 300
Credit Card Charges (1%) 619 550 560 570 587

Employee Salaries 15476 13754 13996 14255 14663
Office Supplies 175 175 175 175 175
Management Salaries 3400 3400 3400 3400 3400
Utilities 1200 1200 1200 1200 1200
Workers Compensation (6%
Wages) 1133 1029 1044 1059 1084
Advertising 800 800 800 800 800
Bookkeeping 150 150 150 150 150
Insurance 250 250 250 250 250
Legal and Professional Fees 100 100 100 100 100
Employer Taxes/Benefits (15%
Wages) 2265 2058 2087 2119 2168
Misc. Other 250 250 250 250 250
Rent 3200 3200 3200 3200 3200
Garbage 200 200 200 200 200
Small Equipment 200 200 200 200 200
Telephone [phone]
Total Gen. and Admin. (Fixed) 29867 27766 28062 28378 28876
NET PROFIT OR LOSS 10996 10089 10443 10901 11583
SBA Loan 3582 3582 3582 3582 3582
Cash Flow After Financing 7414 6507 6861 7319 8001
Draw 4000 4000 4000 4000 4000
Net Cash Flow 3414 2507 2861 3319 4001
Accumulated Cash Flow 5921 8782 12101 16102
Average Daily Sales / 22 days 2814 2501 2545 2592 2666
June July Aug Sept Oct Nov Dec YTD 2013
44325 44658 45210 45325 46251 46325 47125 535152

15574 15487 16421 16251 17452 17245 17845 188913
59899 60145 61631 61576 63703 63570 64970 724065
-
14627 14737 14919 14957 15263 15287 15551 177215
3894 3872 4105 4063 4363 4311 4461 48806
18521 18609 19025 19020 19626 19599 20013 226021
-
41379 41536 42606 42556 44077 43972 44958 498045
- - - - - - - -
14975 15036 15408 15394 15926 15893 16243 181016
100 100 100 100 100 100 100 1200
2205 2212 2257 2255 2319 2315 2357 26618
1102 1106 1128 1128 1160 1158 1179 13309
150 150 150 150 150 150 150 1800
150 150 150 150 150 150 150 1800
599 601 616 616 637 636 650 7241
250 250 250 250 250 250 250 3000
800 800 800 800 800 800 800 9600
250 250 250 250 250 250 250 3000
175 175 175 175 175 175 175 2100
3200 3200 3200 3200 3200 3200 3200 38400
300 300 300 300 300 300 300 3600
200 200 200 200 200 200 200 2400
3400 3400 3400 3400 3400 3400 3400 40800
200 200 200 200 200 200 200 2400
1200 1200 1200 1200 1200 1200 1200 14400
29256 29331 29784 29768 30416 30376 30803 352684
-

12122 12205 12822 12788 13661 13596 14155 145361
4000 4000 4000 4000 4000 4000 4000 48000
8540 8623 9240 9206 10079 10014 10573 102377
4540 4623 5240 5206 6079 6014 6573 54377
3582 3582 3582 3582 3582 3582 3582 42984
20643 25266 30505 35712 41791 47804 54377
2723 2734 2801 2799 2896 2890 2953
P8 Legal form of venture
For building an enterprise which is actually new in market scenario that is necessary to
make strategies and policies very carefully. There are various kind of legal rules for establishing
a particular new company and all fresh ventures have to follow several laws. In case of United
Kingdom, their government has prepared some of mandatory rules or regulations which are
important to be followed by firms which tends to set themselves (Robb and Watson, 2012). The
Venture of Shine Travelling agency have to focus on several categories for multiple variations
that are described below:
Types of legal forms
Sole proprietorship:- This can be refers to that person who is single owner of their firms
which may small or medium size enterprises. This will includes certain business activities and
operation in efficient manner. That individual have only right to make decisions about strategies
for carrying out business properly.
Partnerships firms:- This kind of organisations are owned and run by two or more
members in each and every aspects to attain accurate outcomes. In this sharing of profits and
losses is takes place between legal partners. It seems to be kind of drawbacks in case of profits
because it is distributed between amongst them. But it is beneficial in respect of losses due to
that fact, no one face burden of whole loss of firm.
Public sector:- This can be defined as the various kind of government organisations
which are carrying out and run by legal authorities. Such companies are made by legal people of
the nation which h provides employment to citizens and work for welfare of public. They have to
pay taxes who are performing their roles in government companies and that is utilised in
providing favour to people of country (Simon and Shrader, 2012).

The above factors are relevant to several legal forms of organisations along with legal
rules and laws of government to be followed by new ventures while establishing in market area.
CONCLUSION
The above mentioned report had there are various kind of new ventures which are
establishing in market having their different kind of businesses. This can be done through
determine target markets and undertaking competitive analysis and identify tangible or intangible
resources. They have to prepare a credible proposal to launch a new venture by building essential
skills and abilities in themselves. Such ventures have to conduct various type of promotional
activities to provide information as well as to promote product in front of people.
REFERENCES
Books and Journals
Baron, R. A. and Tang, J., 2011. The role of entrepreneurs in firm-level innovation: Joint effects
of positive affect, creativity, and environmental dynamism. Journal of Business
Venturing. 26(1). pp.49-60.
Bijker, W. E. and et. al., 2012. The social construction of technological systems: New directions
in the sociology and history of technology. MIT press.
Burns, P., 2017. New venture creation: a framework for entrepreneurial start-ups. Palgrave.