New Venture: Market Analysis, Budget, Skills, & Legal Report

This report investigates the launch of a new venture centered around an office concept within the "Food in my own style" restaurant. It identifies the target market as startups and small offices, conducting a competitive analysis to highlight the venture's unique position. The report details the tangible and intangible resources required, including financial, human, and physical assets, as well as organizational routines and brand image. A launch proposal is presented, outlining problem definition, solution, deliverables, and approach. The report evaluates essential skills such as financial management, marketing, and communication, suggesting development methods. Promotional channels and activities are described and justified, followed by a 12-18 month cash budget. Finally, the report suggests a suitable legal form for the venture, justifying its choice.

Launching A New
Venture

Table of Contents
INTRODUCTION ..........................................................................................................................5
MAIN BODY...................................................................................................................................5
P1 Describe and investigate a new venture which identifies the target market and undertake
the competitive analysis..............................................................................................................5
M1 Apply different techniques and methods for competitive analysis in order to justify that in
which manner they can achieve competitive advantage ............................................................6
M2 Discuss weaknesses and strengths of the new venture and also determine the areas of risk
.....................................................................................................................................................6
D1 Create a detailed proposal which demonstrates the analysis at critical level and reflection
of competitive environment with support of contingency planning to minimise risk................7
P 2 Determine the particular intangible and tangible resources which would be required for
the launch of new venture ..........................................................................................................7
P3 Produce a proposal for launching a new venture ..................................................................8
P 4 Evaluate the capabilities and skills which are required to launch a new venture and in
which they have acquired or developed......................................................................................9
M3 Explore about different range of capabilities and skills which are required for the launch
and assess into critical manner that in which manner they have developed or acquired
applying appropriate methods.....................................................................................................9
D 2 Discuss the timescales and supporting costs which are required for developing or
acquiring the capabilities or skills of a launch team ................................................................10
P 5 Describe about different promotional channels and activities which will support the
launch and also justify the choice as well ................................................................................10
M4 Assess the proper promotional activity plan for both pre-launch and launch as well .......11
D3 Evaluate the different promotional activities into critical manner in order to support the
justification ...............................................................................................................................11
P7 Create a monthly cash budget for the 12-18months following the launch and pre-launch
phase of the venture .................................................................................................................11
M 5 Justify an itemised monthly cash budget which shows one-off costs, ongoing costs and
anticipated income post and pre-launch....................................................................................12

D4 Create a post and pre launch monthly itemised cash budget which is based on financial
resources which includes key budget categories and sub-categories with contingency
measures for anticipated outcomes ..........................................................................................12
P8 Suggest a proper legal form for the venture stating why it has been chosen ......................12
CONCLUSION .............................................................................................................................13
REFERENCES..............................................................................................................................14

INTRODUCTION
Venture basically refers to the activity or project which is exciting, new and difficult
because it basically involves the risk of failure. It is all about which has been recently created,
invented or built which is about the process of being built, created or invented. New ventures are
important for entrepreneurs because they basically act the wheel for the economic growth of a
country(Balocco and et.al., 2019). In the present report, a venture is taken into consideration.
Within this venture, funding is required for office concept within restaurant and this venture has
been done with the well reputed restaurant which is named as “Food in my own style”. The
present report will cover discussion about the new venture which identifies the specific target
market and also undertake the competitive analysis and also about particular tangible and
intangible resources which is required for the launch of a new venture. In addition to this, the
report will cover analysis about credible proposal to launch a new venture and also about the
capabilities and skills which is required to launch a new venture and also about different
promotional activities which will support the launch. Moreover, the report will cover discussion
about monthly cash budget for the pre-launch phase and also about legal form for the venture.
MAIN BODY
P1 Describe and investigate a new venture which identifies the target market and undertake the
competitive analysis
According to this new venture, it has been observed that the venture is with a well
reputed restaurant which is named as “Food in my own style”. This venture has been done who
are looking for the investment for office concept within the restaurant. The target market for this
venture are the offices who are at the initial stage or act as start up into the market of business.
Within this market, all those employees and owner of offices or start up have been targeted. As it
is a very new concept into the market and very few businesses have a thought about this
concept(Bandera and et.al., 2018). While introducing a new venture into market, it is very
important to conduct competitor analysis. Competitor analysis is a kind of strategy which
involves research about the major competitors in order to gain insight regarding the sales,
products and marketing tactics as well.

With reference to this new venture, there are only few competitors or there are chances
that there are no competitors into the market. For standing out competitively into the market it is
very important to always have unique features regarding the design of office concept within
restaurant and also introduces the different ways of working into professional manner. In this
manner, the venture can give tough competition into market and act as competitive advantage
within this world of business.
M1 Apply different techniques and methods for competitive analysis in order to justify that in
which manner they can achieve competitive advantage
There are different techniques and methods for competitive analysis for justifying about
achievement of competitive advantage. For purpose of competitive analysis, there are different
frameworks which can be applied and it includes SWOT analysis, Porter's five forces, growth
share matrix, strategic group analysis and perceptual mapping as well. The techniques which can
be used for competitive analysis for achieving competitive advantage into the market basically
includes BCG Portfolio planning, industry analysis, issue analysis, product life cycle, driving
force analysis(Björklund and et.al., 2020). By applying these frameworks, techniques and
methods they can work into effective manner in order to achieve competitive advantage into
positive manner. So these are the techniques and methods which can be used by this new venture
so that they can stand themselves competitively into market.
M2 Discuss weaknesses and strengths of the new venture and also determine the areas of risk
There are certain strengths, weaknesses and risk as well which are defined into the
following manner:
Strengths: The main strength of this new venture is that it is totally a new concept into this
world of business(Chen and et.al., 2017). As it is a new venture into market so people also take
interest into this context for their further development and growth and also there are chances that
through references new contacts can be developed for future growth of this venture.
Weaknesses: The main weakness of this venture is that it is very time taking process in order to
properly execute the concept of office within the restaurant.
Areas of risk: The main risk is that as it is a new concept into the market then it is very
challenging for that office for maintaining a regular and a particular number of customers into
the market of business.

D1 Create a detailed proposal which demonstrates the analysis at critical level and reflection of
competitive environment with support of contingency planning to minimise risk
For minimising the risk, there are certain steps which can be taken within the proposal in
order to a competitive environment. Within this venture, it is very important to recruit
competitive people in order to reward the competitiveness(Chen and Zhou., 2017). It is very
important to consider those people who aren't good for the business and don't give permission to
any employee who do not perform into considerate manner for longer period of time. It is very
necessary to avoid the walk- through s and it is necessary to demand a lot by the main person
within the venture and also need to have proper discussion about it.
P 2 Determine the particular intangible and tangible resources which would be required for the
launch of new venture
There are certain intangible and tangible resources which could be used in order to launch
a proper new venture which is defined into the following manner:
Tangible resources: The resources which are tangible that are required at the time of launch of
new venture are broadly categorised into five broad categories. It basically include financial
resources, human resources, physical resources etc. Financial resources basically include funding
and human resources basically include employees. Physical resources are those which are
equipments and premises as well.
Intangible resources: The resources which are intangible that are required at the time of
launch of new venture basically includes the routines which needs to be followed by every
member of an organisation. There are certain kind of experiences of employees and cross
functionality of the organisation act as helpful parameter in order to achieve overall objective
into successful manner(Choi and Markham., 2019). There are different kinds of research and
development collaborations and alliances which are helpful in order to achieve targets of this
new venture into successful manner. The brand image and logo of this venture is very important
into context of launch of this new venture.

So these are the intangible and tangible resources which are required at the time of this new
venture and these resources act as key drivers in order to achieve the long term smooth
functioning of this new venture.
P3 Produce a proposal for launching a new venture
Proposal can be prepared for launching a new venture is defined into the following
manner:
 Define the problem: The major problem is that an entrepreneur is looking for the
investor for its new concept of office within the restaurant and investor is looking for the
venture in order to enhance themselves for their further growth and development.
 Present the solution: The solution this problem is the new venture which help both the
parties in order to resolve their problems into positive manner.
 Define the deliverables and success criteria: Within this venture, it has been completed
through looking at scope, objective and need of the venture. The deliverables are mainly
defined by the work breakdown structure(Frederiksen and Brem., 2017). The success
criteria of this venture depends on this factor that they have developed a proper brand
image into market and gain profits and revenue on a larger scale as well and also give
tough competition into market.
 State the approach: The main approach of this new venture is that to bring a new
concept into the way of working and environment within the business so that employees
can enjoy the feel of restaurant so that they can come up with new ideas along with
excitement.
 Tie it all together: It is important to consider all the parameters of proposal into positive
manner with result oriented actions(Fu and et.al., 2018).
 Edit the proposal: Within this step, it is necessary to avoid unnecessary steps for this
launch of new venture and can also reduces unnecessary cost from the financial aspect.
P 4 Evaluate the capabilities and skills which are required to launch a new venture and in which
they have acquired or developed
There are certain skills and capabilities which are required in order launch a new venture
which is defined into following manner:

For launching a new venture, it is very important to have financial management skill and
marketing, sales skills are also required into positive manner. Within the venture, it is very
important to have communication and negotiation skills so that exact information can be
conveyed within the team members(Kuester and et.al., 2018). It is very important to have
leadership quality so that venture can be directed into right direction along with their team
members. While launching a new venture, it is very important to have problem-solving skill in
order to face challenges into positive manner. There is also requirement of networking so that
references and contacts can help in terms of further growth and development of this new venture.
These skills can be developed through starting a small business with lower risk or no risk
as well and this can be initiated at the college or school level. From the college life to realistic
professional life there is enough time to develop these skills into positive manner. For learning
these skills into effective manner, it is very important to stick to the challenges within this small
business so that it will give the experience of how to tackle these challenges and alongside they
have to think about the management of their own finances so that they can learn about financial
management into realistic life. In this manner, the skills can be developed or acquired into
positive manner.
M3 Explore about different range of capabilities and skills which are required for the launch and
assess into critical manner that in which manner they have developed or acquired applying
appropriate methods
There are different kinds of skills and capabilities which are required for the launch of
new venture which basically include financial management, communication skills, problem-
solving and negotiation skills as well(Leitch and Volery., 2017). It has been observed that every
kind of business and new venture has their own significance and its not necessary that every skill
is required in all kinds of businesses. These skills have been developed through starting a new
business but its not guarantee that these skills can be applied into every kind of realistic situation
of the business. So its a very challenging task to develop or acquire skills of business into
positive manner.
D 2 Discuss the timescales and supporting costs which are required for developing or acquiring
the capabilities or skills of a launch team
For learning these skills and capabilities into effective manner there is requirement of
time period in which they can be learnt into effective manner. In the general manner, the

timescale which is required for developing these skills is around six to twelve moths into perfect
manner(Morris and et.al., 2018). The supporting cost which are required in order to learn these
skills ranges in between fifteen to twenty five dollars. This is the general cost which are
necessarily required in order to learn these capabilities into effective manner.
P 5 Describe about different promotional channels and activities which will support the launch
and also justify the choice as well
There are different kinds of promotional channels and activities that will support the
launch which are defined into the following manner:
Online venture launch can be promote through different channels such as search engine
optimisation, content marketing, social media marketing, email marketing, influencer marketing,
word of mouth marketing, online and offline advertising. For promoting the new venture into
effective manner, it is required that to run informative webinars which spread information about
the new venture into result oriented manner(Passaro and et.al., 2020). Networking events can
also be conducted and social media contest can also be organised for promoting the new venture
into result oriented manner. For promoting the venture, business cards can be distributed among
different events to different people so that people have an awareness about this new venture on
the large scale.
According to the joint venture of office concept with Food in my own style, they can
choose social media marketing as their only choice in order to promote their new venture into
effective manner. Social media marketing is very beneficial as it help the marketers to be more
informed about their target audience, dislikes, likes and interests so that they can create better
marketing strategy in order to attract such kind of customers. So this is the best choice in order
to promote this new venture into result oriented manner.
M4 Assess the proper promotional activity plan for both pre-launch and launch as well
For an appropriate promotional activity plan, it is very necessary that to follow certain
steps into result oriented manner. First of all this new venture has to use informative webinars
into positive manner so that they can proper action towards it. Under this plan, first of all they
have to evaluate marketing communication opportunities and they can communicate through
social media platforms such as Facebook, Instagram and You tube as well(Pellikka and Ali-

Vehmas., 2016). After that define about the objectives so that this venture can work into right
direction into positive manner. In the further step, within this plan they have to focus on the
promotional mix and after that develop the promotional message which can be “Promote the
restaurant with business activities”. After that set the promotional budget which is around thirty
five dollars. In the last step, it is important to determine the campaign effectiveness which can be
analysed through customer responses. This is the promotional activity plan which can be used
for pre-launch and launch as well.
D3 Evaluate the different promotional activities into critical manner in order to support the
justification
There are different kinds of promotional activities which can be used by this new venture.
These promotional activities basically include informative webinars, Networking events, social
media contest and business cards etc. For the proper justification, it is very important to use these
promotional activities for the successful venture. It has been observed that these activities can be
supportive up to a certain extent but its not necessary that all these promotional activities can be
fit into this new venture. This is due to reason that every venture has their own significance and
role as well in order to work into effective manner.
P7 Create a monthly cash budget for the 12-18months following the launch and pre-launch phase
of the venture
For the launch of new venture, it is necessary that to have a proper monthly cash budget
so that proper actions can be taken according to the requirement of situation(Spagnoli and et.al.,
2015). The primary purpose of cash budget is that to provide business with the status of their
own cash position so that they can easily determine their shortages of cash or whether there is
any excess of cash. In context to new venture, the budget of cash basically entails about their all
outgoings and in goings for a particular period of time whether it is monthly, weekly, annually or
quarterly.
Cash Budget
Jan Feb Mar Apr May Jun Jul
Cash inflows
Sales - Values 88789.1004 88789.1 88789.1 106546.9 106546.9 106546.9 11720
Sales - credit 88789.1 88789.1 88789.1 106546.9 106546.9 10654
Total Recipts 0 88789.1 88789.1 88789.1 106546.9 106546.9 10654
Cash

outflows
Franchaise
Fees 0 0 0 0 0 0
Investment
Cost 5000 5000 5000 5000 5000 5000 50
Ingredients
(VC) 169587.1818 169587.2 169587.2 203504.6 203504.6 203504.6 22385
Salaries 31200 31200 31200 31200 31200 31200 312
Rent 14400 14400 14400 14400 14400 14400 144
Total
Payments 220187.1818 220187.2 220187.2 254104.6 254104.6 254104.6 27445
Net Cash
Flow -220187.1818 -131398 -131398 -165316 -147558 -147558 -1679
Opening
Cash 0 -220187 -351585 -482983 -648299 -795857 -9434
Closing Cash -220187.1818 -351585 -482983 -648299 -795857 -943414 11113
Aug Sep Oct Nov Dec Total
117201.6 117201.6 82041.13 82041.13 82041.13
117201.6 117201.6 117201.6 82041.13 82041.13
117201.6 117201.6 117201.6 82041.13 82041.13 1101695
0 0 0 0 0
5000 5000 5000 5000 5000
223855.1 223855.1 156698.6 156698.6 156698.6
31200 31200 31200 31200 31200
14400 14400 14400 14400 14400
274455.1 274455.1 207298.6 207298.6 207298.6 2868136
-157253 -157253 -90096.9 -125257 -125257
-
1766441
-
1111322
-
1268576
-
1425829
-
1515926
-
1641184 -
-
1268576
-
1425829
-
1515926
-
1641184
-
1766441

M 5 Justify an itemised monthly cash budget which shows one-off costs, ongoing costs and
anticipated income post and pre-launch
According to the cash budget, it has been observed that opening cash at the initial stage of joint
venture is around 220187 and at the end of year it is around 1641184. Through this venture, the
cash flow has been increased and positive growth has been observed from this kind of venture
and company has achieved higher level of growth into positive context. The closing cash has also
increased from 220187 to 1766441due to which this venture has achieved success into the
financial aspect.
D4 Create a post and prelaunch monthly itemised cash budget which is based on financial
resources which includes key budget categories and sub-categories with contingency
measures for anticipated outcomes
Cash Budget
Jan Feb Mar Apr May Jun Jul
Cash inflows
Sales - Values 88789.1004 88789.1 88789.1 106546.9 106546.9 106546.9 11720
Sales - credit 88789.1 88789.1 88789.1 106546.9 106546.9 10654
Total Recipts 0 88789.1 88789.1 88789.1 106546.9 106546.9 10654
Cash
outflows
Franchaise
Fees 0 0 0 0 0 0
Investment
Cost 5000 5000 5000 5000 5000 5000 50
Ingredients
(VC) 169587.1818 169587.2 169587.2 203504.6 203504.6 203504.6 22385
Salaries 31200 31200 31200 31200 31200 31200 312
Rent 14400 14400 14400 14400 14400 14400 144
Total
Payments 220187.1818 220187.2 220187.2 254104.6 254104.6 254104.6 27445
Net Cash
Flow -220187.1818 -131398 -131398 -165316 -147558 -147558 -1679
Opening
Cash 0 -220187 -351585 -482983 -648299 -795857 -9434
Closing Cash -220187.1818 -351585 -482983 -648299 -795857 -943414 11113

Aug Sep Oct Nov Dec Total
117201.6 117201.6 82041.13 82041.13 82041.13
117201.6 117201.6 117201.6 82041.13 82041.13
117201.6 117201.6 117201.6 82041.13 82041.13 1101695
0 0 0 0 0
5000 5000 5000 5000 5000
223855.1 223855.1 156698.6 156698.6 156698.6
31200 31200 31200 31200 31200
14400 14400 14400 14400 14400
274455.1 274455.1 207298.6 207298.6 207298.6 2868136
-157253 -157253 -90096.9 -125257 -125257
-
1766441
-
1111322
-
1268576
-
1425829
-
1515926
-
1641184 -
-
1268576
-
1425829
-
1515926
-
1641184
-
1766441
P8 Suggest a proper legal form for the venture stating why it has been chosen
There is a proper legal form for the venture which has been chosen due to following
reason which is defined into the following manner:There are different kinds of business
organisation which includes sole proprietorship, partnership, corporation and joint venture.
Sole proprietorship: Sole proprietorship refers to the proprietorship which is a kind of
enterprise owned and run by an individual where there is no legal distinction between the
business entity and the owner as well.
Partnership: Another business form is partnership which is a kind of formal agreement or
arrangement through two or more parties in order to operate and manage the share of its profits
and business as well.
Corporation: A corporation is another kind of business form which is owned by its shareholders
who elects the board of directors in order to oversee the activities of an organisation. It is the
corporation which is liable for the finances and actions of the business.
Joint venture: There is also one form of business which is the joint venture that is basically the
combination of two or more parties which basically seeks the development of a single project or
enterprise for profit which basically shares the risks that is related with its development.

It has been observed that according to the requirement of the situation, joint venture
option has been chosen in order to fulfil the needs into positive manner (Tucker and et.al., 2017).
According to the scenario or requirement of situation, an entrepreneur is looking for the investor
for their product whereas investors are looking for the ventures so they have decided for the
option of going for joint venture. That's why the entrepreneur has decided to launch their new
concept of office within restaurant with a well reputed restaurant which is named as “Food in my
own style” through support of Joint Venture option.
CONCLUSION
The above stated report concludes that joint ventures are very important into this world of
business. It has been concluded that the new venture has to properly determine the target market
and should follow proper competitive analysis into result oriented manner. It has been
determined that there are intangible and tangible resources which are required for this launch of
new venture. It has been observed that it is very significant that for the launch of a new venture
there is requirement of new proposal so that accordingly actions can be taken for it. Within a new
venture for launching it into successful manner there is requirement of skills and capabilities as
well which needs to be developed into result oriented manner. There are different promotional
activities and channels which can be used for promoting the new venture into result oriented
manner. There is requirement of promotional activity plan which help into the context of pre and
post launch of this new venture. For the pre-launch purpose, there is requirement of cash budget
and also for the certain moths after having the proper launch. A business has to adopt a proper
legal form for the venture so that the requirements can be fulfilled into result oriented manner.

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