Business Plan: Launching a New Healthy Food Shop Venture

This report details the launch of a new healthy food shop venture in Manchester, providing a comprehensive analysis of the business plan. The introduction defines the new venture and emphasizes the importance of market analysis. Task 1 explores the target market, competitive analysis, and required resources, distinguishing between tangible and intangible assets. It includes a credible proposal, a discussion of the venture's strengths, weaknesses, and risk assessment. Task 2 focuses on the skills and capabilities needed for the launch, along with methods for acquiring them. Task 3 examines promotional activities and channels, developing a plan for both launch and pre-launch phases, and evaluating their effectiveness. Task 4 presents a monthly cash budget for the pre-launch and initial operational periods, and suggests an appropriate legal form for the venture. The report concludes with a summary of findings and recommendations for the successful launch and operation of the healthy food shop.

Launching a New Venture

Contents
INTRODUCTION...........................................................................................................................4
TASK 1............................................................................................................................................4
P1 Explain new venture and identify specific target markets and undertake competitive
analysis...................................................................................................................................4
P2 Tangible and intangible resources which required by chosen company for launching new
venture....................................................................................................................................5
P3 Produce a credible proposal to launch a new venture.......................................................5
M2 Discuss the strengths and weaknesses of the new venture and determine areas of risk.. 7
D1 Develop a detailed proposal that demonstrates critical analysis and reflection of the
competitive environment with supporting contingency planning to minimise risk...............7
TASK 2............................................................................................................................................8
P4 Skills and capabilities required to launch a new venture and how they are acquired or
developed................................................................................................................................8
M3 Range of skills and capabilities required for the launch and a critical assessment of how
might they be acquired...........................................................................................................9
D2 Critically discuss supporting costs and timescales required for developing skills of a
launch team.............................................................................................................................9
TASK 3............................................................................................................................................9
P5 Explain different promotional activities and channels that will support the launch and
justify their choice..................................................................................................................9
P6 Develop an appropriate promotional activities plan for both launch and pre-launch.....10
M4 Evaluate an appropriate promotional activities plan for both launch and pre-launch.. .12
D3 Critically evaluate the different promotional activities to support justifications...........12
TASK 4..........................................................................................................................................13
P7 Produce an itemised monthly cash budget for pre-launch phase of the venture and first 12-
18 months preceding launch of venture................................................................................13
P8 Suggest an appropriate legal form for the venture stating why it has been chosen........17
CONCLUSION..............................................................................................................................19
REFERENCES..............................................................................................................................20

INTRODUCTION
Launching a new business is defined as a process which requires conducting of proper
market analysis in order to know whether the new business will sustain in market or not. Several
entrepreneurs small or big start from opening a new shop or restaurant in market. The present
business venture is healthy food shop. This shop is opened in Manchester and there is
requirement of grabbing customer attention in order to increase the market share. In the
following report, there is explanation about target market and competitive analysis of this new
business. There is information regarding both tangible and intangible resources which are used in
this venture and there is introduction about assessing of various skills and capabilities for new
business venture. there are various promotional activities for the new shop which are explained
in this file.
TASK 1
P1 Explain new venture and identify specific target markets and undertake competitive analysis
A new healthy shop in Manchester is the business idea for an entrepreneur. This will be an
effective business venture as there are various opportunities in the food industry nowadays.
Healthy shop will be providing fat free and less oily food and other items to people. As people
are more prone towards eating healthy diet and food, this shop is opened. There will be e a
soothing music provided in the premises of his shop which will help in relaxing the customers.
There are various factors which are associated with an effective market research and these are
explained below –
 Identify target market - this is known as various potential customers which are required in
order to increase sales and profit of this new healthy shop. The target market for this shop
is people who are more health conscious and need of balanced diet.
 Competitive analysis - it is known as the development of various strategies and plants
that are helpful for conducting a successful business in market. This healthy shop has to
analyse the market and evaluate what are the strategies used by competitors in order to
sustain in market for longer period. There is used for competition in the food and
restaurant industry, so this shop owner will have to to apply strong marketing strategies
to gain interest of customers.

P2 Tangible and intangible resources which required by chosen company for launching new
venture
Resources are the most important factor which are required in managing a successful
business venture. There are basically two types of resources that are tangible and intangible
resources. In context of this healthy shop, tangible resources are our customers and clients of the
new shop. Intangible resources are those which do not have any physical presence and these
include having a trademark or copyright or patent right. The resources are required by the heathy
shop to do good business in effective manner within market. A good business venture is one
which is using the resources properly. There is managing of proper work within the new healthy
shop and customers will be provided with standard and quality food items. These resources in
reference to the new healthy shop are explained below-
 Intangible resources are the asset or resources that do not have any physical presence or
form. The healthy shop must be having any trademark, patent right, franchise rights,
copyrights in order to conduct business in market. Resources in this shop include
providing good and pleasant surroundings to people, providing standard food, live music
 Tangible resources are the assets which are present in physical manner. This consists of
having a good infrastructure, machinery, land, furniture. In reference to the healthy shop,
a good ambience and architecture of shop is required for attracting the customers.
M1 apply methods and techniques for competitive advantage and achieving competitive
advantage
The method which can be used by healthy shop is to provide attractive offers to customers. This
shop is able to manage the competitive advantage within market by offering the food items with
diet coke and other juices. In this way, customers will be attracted towards buying the product of
this shop. This is the best way for attracting customers.
P3 Produce a credible proposal to launch a new venture
When an individual’s decided to initiate a new venture then it has to perform appropriate
market analysis and evaluation as it assists them into determining its target customers and
marketplace, thereafter plan its product or services effectually ( Burns2017). In case firm
perform research then it results will be pessimistic as well as they can attain several opportunities
for grabbing the attention of consumers and investors. So, this is crucial for new healthy shop to

perform market analysis and evaluation before entering into market as it helps them to attain
objectives. Respective firm design proposal to launch its new venture that is discussed below:
Executive Summary New healthy shop is going to launch in Manchester that provides
fat free and less oily food and other items to people. the topics
which is covered into respective report is target market
evaluation, competitive analysis and resources selected for
healthy shop. Also, capabilities and skills, promotional activities
and budget of respective company. All these help them to attract
more number of customers.
Company Description New Healthy Shop is a new firm that is going to launch in
Manchester. It provides fat free and less oily food and other
items to public. It is plan to establish as now a days people are
more prone towards eating healthy diet and food, this shop is
opened. Also, a soothing music provided in the premises of his
shop which will help in relaxing the customers.
Market Analysis New healthy Shop performs market analysis by which it can
determine their potential consumers and marketplace.
Thereafter, develop strategies as per that that assists them to
increase its profit. The respective venture performs SWOT and
PESTEL analysis effectually. The main principle for performing
market analysis is to get knowledge about market, clients and
strategies consequently that help them to grab the attention of
various consumers effectively.
Marketing Strategy New Healthy Shop frames its whole business plan by
performing marketing strategy. So that it can bale to understand
its whole aspects from customer identification to performing
marketing and business. Through developing marketing strategy
respective firm can become capable to build effectual plans to
attract clients, perform promotion and advertisements.
Financial Status Determining financial position of firm is essential for

introducing a new business into country. New Healthy Shop
perform financial analysis of its business before introducing in
Manchester for this it assess several aspects like financial
viability and position. New healthy Shop needs about £100,000
funds.
M2 Discuss the strengths and weaknesses of the new venture and determine areas of risk.
As new venture is launching into a market of Manchester so it has some strengths as well
as weaknesses which are discussed below:
Strengths: As new venture named as New Health shop which comes under food industry
so it is its main strength as it provides them various opportunities to develop its business.
Moreover, in its business they facilitates fat free and less oily food and other items to people so,
this attract more number of individuals who are generally conscious about their health and
generally prefer healthy diet. This enhances their sales as well as maximise the profitability. In
addition to this, this will be also helpful in sustaining for longer period into marketplace of
Manchester.
Weaknesses: The main weakness of a new venture is it’s have various number of
competitors as more entrepreneurs are very much focused towards the food sector while
launching any business. Moreover, they are to invest more funds as they have to buy some
tangible an intangible resources. In addition to this, also they have to invest into research and
development in more effective and efficient way. As it is a small newly open venture so it cannot
able to do more investment.
Therefore, some of the risk that is determined is competitive environment, substantial
strategy risk and other. In addition this, there are various more risk like market risk as the trends
are changing competitively. Also, more number of competitors are there into food industry
market which will be threat for a New healthy Shop.
D1 Develop a detailed proposal that demonstrates critical analysis and reflection of the
competitive environment with supporting contingency planning to minimise risk.
Competitive environment is considered as the dynamic external system where a business
competes as well as operates. So, in Manchester there are various opportunities into food

industry which will somehow risk for new firm as they have to tackle with various large
competitors who are already operate their for a longer period. As new Heathy Shop is going to
launch into Manchester market so they have to face various risk for minimising those risk they
are to develop a contingency plan. For instance, they have to perform the market research as well
as analysis in more effective and efficient way. As it helps them to get knowledge about the
marketplace in which they are operating and also the people interest related to healthy food.
TASK 2
P4 Skills and capabilities required to launch a new venture and how they are acquired or
developed
In order to launch a new venture, there are many skills as well as capabilities that are
required. One of the skills that is required is knowledge of sales as well as latest trends in the
market like digital marketing and other tools (Géraudel, Gast and Gundolf, 2017). This is
because digital marketing has become an important component for companies as it helps in
creating awareness about the venture among customers. It is also important to have effective
accounting and budgeting skills because if the owner of the business will not have effective
knowledge about managing money, the business will not be able to run smoothly (How to Start a
Business: 6 Skills Every Entrepreneur Needs to Know, 2020). It is extremely important to build
credibility in a start-up venture because it is the judgement that customers make about if the
company is trust worthy when it talks about its products. It is also important because companies
that can be trusted by their customers are likely to build a sustainable relationship with their
customers. The owner of a start up business can also implement the concept of Bootstrapping,
which means making use of sources of skills and resources that involve low cost in order to carry
out business operations effectively.
Lean start up can be defined as a methodology for developing businesses as well as
products that are primarily aimed towards shortening the overall product development cycle
within a company. It is a useful methodology because it can help a new venture in launching the
products that are actually required by the customers, in a quick and cheap manner as compared to
the traditional methods. Apart from this, the lean start-up method also makes new ventures less
risky and thus, more successful. There are five principles of lean start up that include

entrepreneurship is management, validated learning, innovation accounting etc. These skills can
be acquired through various ways, wherein networks play an important role (Kuratko and
Hornsby, 2017). Networks are extremely helpful for a new start up venture. This is because they
can act as a source of social capital and can act as an access to knowledge, resources as well as
opportunities. Therefore, it is also important to consider both formal as well as informal
networks. Formal networks comprise of different centralized and decentralized channels.
Personal networks also play an important role when a person decides to launch a new venture.
This is because they can help in promoting the venture and creating awareness about the same
among people. This will lead to a greater number of customers visiting the respective venture,
i.e., Healthy Gains.
M3 Range of skills and capabilities required for the launch and a critical assessment of how
might they be acquired
There are various skills and capabilities that are required for the launch of a new start up.
These skills can include effective accounting and budgeting skills because it is important to keep
a track of the expenses as well as budget within the business. Also, building a credibility in a
start-up business can also be helpful during the launch. The owner of the start-up business should
be able to identify and address the different risks that are associated with setting up the business.
These skills can be developed through experience and related qualifications.
D2 Critically discuss supporting costs and timescales required for developing skills of a launch
team
In order to acquire the skills, there can be varied timescales for the launch of a team in a
start up business. Supporting costs can be defined as the costs that are not directly associated
with the finished products of the company. These can include the rent of the start-up space,
insurance related to production of products, supplies and depreciation of equipment. These
supporting costs as well as timescales associated with the same will help in effectively launching
a team in the respective business, Healthy Gains.

TASK 3
P5 Explain different promotional activities and channels that will support the launch and justify
their choice
Marketing mix is a model that is basically used in order to consider the different elements
that are a part of the overall process of promoting a brand as well as its products in the market
(Liu and Wang, 2018). It is important because it helps in understanding what can the products of
a company offer to its customers. The marketing mix for Healthy Gains is described below –
Product – The respective start up venture offers ready to eat healthy snacks to its
customers. The sacks are cholesterol free and not fried, rather baked.
Price - The company offers all its products at very affordable and pocket friendly rates.
This has helped it in attracting people who are health and weight conscious. Pricing strategy is
extremely important for a new venture because it can help it in attracting a greater number of
potential customers.
Place – The products are available at various retail stores and are also sold through the
company’s official website wherein offers and discounts are offered.
Promotion – Healthy Gains uses different promotional techniques like social media and
word of mouth. It also promotes the products through pamphlets and various promotional offers.
Respective company uses various promotional techniques that are cost effective and help
it in attracting a greater number of customers (McGee and Peterson, 2019). The techniques
include blogs, various social media platforms like Twitter, Instagram etc. Healthy Gains also
uses video clips, image captions as well as virtual tours. These techniques will help in increasing
awareness about the same as well as will also be helpful during the launch. The owner of the
venture has also decided to develop an online website that will contain all the necessary
information about it as well as the different offers and discounts that are offered by it. The
website will contain various e-commerce capabilities like a virtual shopping cart and an option of
online payment that is safe and secure. These promotional activities are chosen for the launch of
the new venture because they will not only help in generating awareness but also create
excitement among the customers to try its products. This way, they will be more engaged with
the brand and start communicating with it by posting their reviews in the comments section.
Video clips will act as an engaging component and generate interest among them (Mullins,

2017). This can also contribute to an increase in the overall sales as well as profitability of the
venture in the future.
P6 Develop an appropriate promotional activities plan for both launch and pre-launch
Promotion is crucial part of organisation and it is very important for Health gains company
to consider effective and efficient promotional activities. Through these activities respective
company will be able to provide information regarding products and offering of company to
market area and potential customers (Kuratko and Hornsby, 2017). Promotional activities
consider of different types of practise which is well organized by company to create awareness in
market area regarding company offerings. Health gains organisation needs to consider both pre
launch and launch promotional activities so that large number of customers is attracted towards
organisation and increase is sales of business. Health gains organisation is promoting its products
and services as health and tasty products. This company is positioning its offering as high quality
and healthy food which is right for body fitness and enhancing health. Pre launch promotion and
lauch promotion is mention below -
Pre launch promotion – This can be describe as promotional activities which is developed
for promoting product or service which company is offering soon in market area. there are
different types of pre launch promotional practices which will be conducted by Health gains
organisation and increase excitement in market area regarding offering of company. Building buzz with social media – This is cost effective promotional method that is
consider by Health gains organisation to inform customer about offering of products and
services. By creating buzz on social media through attractive and creative image and
videos will helps in influencing customer towards products and services of respective
company.
 Influential bloggers – This promotional techniques refer as writing creative and unique
content regarding products or services of Health gains company along with different
benefits that could be gain by organisation (von Briel, Davidsson and Recker, 2018).
Influential blogs of different digital media platform will help in informing customer about
company offerings.
Launch promotion – This type of promotion practice refer as information customer as well
as attracting them to purchase products or services that is offered by company. It is important for

Health gains company to create effective launch promotional practices so that large number of
customers are influenced towards respective organisation. Discount offer on website – While launching products or services Health gains
organisation should offer different discount on its official website (Ojala, Evers and
Rialp, 2018). Through this promotional activities traffic on website will increase as well
as customer will be able to gain information regarding different product or services of
new venture.
 Secure online payment – Online payment is very effective promotional tools as this will
support customer in easy and safe payment methods. This promotional method will
attract customer as well as develop trust from customers.
The pros and cons of trademark registration
Trademark registration have different pros for business such as it will support in reaching to
new market area as well as building reputation of company. This is also consider as the effective
mitigation tool for business. It cons includes that it compromise with the quality of offerings.
M4 Evaluate an appropriate promotional activities plan for both launch and pre-launch.
Promotional activities plan consider of different activities and action plan that will
support in conducting both pre launch as well as launch promotional activities in more
significant and effective manner. Appropriate promotional activities plan is mention below –
 Set objective – It is important for respective company to develop objective according to
which each and every function of marketing needs to be performed. The objective of this
promotional activities is to increase awareness about new products and services of
respective company Develop promotional message – Promotional message for pre launch and launch
promotional activities of respective company is Health gains company products offer
high quality and tasty products which is beneficial for health of consumers.
 Analyse budgets – It is important to determine the actual budget plan in order to
determine the actual cost that will be required by business for performing organisational
task.
 Marketing campaign – This includes set of activities or tool which is consider by
respective company for performing marketing or promotional operations.