London Churchill College

Student name :
Student ID :
Programm: BTEC HND in Business
Unit Number and Title: Unit 28, Launching a New Venture
Unit Level: Level 05
Table of Contents
Introduction.................................................................................................................................................3
LO1 Investigate the resources required to launch a new venture...............................................................4
P1 Examine the tangible and intangible resources required for the launch of a new venture................4
M1 Evaluate the availability and appropriateness of the tangible and intangible resources required to
launch a new venture..............................................................................................................................5
LO2 Explore the skills and capabilities required to support the launch of a new venture...........................7
P2 Discuss the different skills and capabilities required to launch a new venture..................................7
M2 Evaluate a range of skills and capabilities required for launching a new venture.............................8
D1 Critically evaluates the availability and appropriateness of resources, skills and capabilities to
support the successful launch of a new venture.....................................................................................9
LO3 Develop promotional activities to support the launch of a new venture...........................................10
P3 Devise a promotional activities plan for the launch of a new venture..............................................10
M3 Develops a wide range of promotional activities that address the marketing mix to support the
launch of a new venture........................................................................................................................10
D2 Create a promotional activities plan that includes a set of Aishwarya voice to evaluate success....11
LO4 Produce a budget for launching a small business or social enterprise venture..................................12
P4 Produce an itemised monthly cash budget for the pre-launch phase and the first 12–18 months
following launch....................................................................................................................................12
M4: Produce a detailed monthly cash budget, showing one-off costs, ongoing costs and anticipated
income post and pre-launch..................................................................................................................14
D3 Produce a comprehensive pre- and post-launch monthly itemised cash budget based on financial
resources and contingency measures for anticipated outcomes..........................................................14
Conclusion:................................................................................................................................................17
References:................................................................................................................................................18
Introduction
My new venture name is “London restaurant”. Although starting a new business seems simple,
there are actually many challenges. “London restaurant” in the UK want to increase their
customer base and increase their profits. However, our restaurant management faces stiff
competition from its competitors for its current products, so the business management chooses to
start a new business with some new products. As a successful entrepreneur and senior sales
manager in a restaurant, I created a business plan to start a new company called London
Restaurant New Branch. Mainly, it will provide customers with fresh fruit and vegetable juices
which are highly demanded in the market as their health awareness is increasing day by day.
New venture products will be marketed based on a business plan, which will detail the resources
needed to start the business. The development of new businesses plays an important role in job
creation and economic growth. A new venture or business venture is broadly defined as a
business that is in the early stages of growth and development. Often, the goal of marketing a
product or service is to create and develop a customer base. Compared to established companies,
new companies are more likely to fail because they often have limited resources and lack
"experience" with external buyers and suppliers. The phenomenon of "responsibility for
innovation" has inspired researchers from many disciplines, including economics, sociology,
psychology and management, to learn how to manage new businesses and improve their
performance. [Opening nightmare: launching a restaurant into a world stricken by .., 2023]
LO1 Investigate the resources required to launch a new venture.
P1 Examine the tangible and intangible resources required for the launch of a new
venture.
When you want create a new venture there must be need some tangible and intangible resource.
My new venture is Ananna consumers Provider Company. Below these resources.

 Tangible Resources:
Furniture and Equipment Assets: Technology, Machinery, office space, and any tangible
resources is very important for the business activities. Without equipment a anyone cannot create
new venture. So it’s very important for every new venture
Raw Materials: When a business go for production process then there must be need raw
material for production activities. Actually it’s most essential tangible resources. Raw materials
is very important for the productive base business company. [Just-in-Time Inventory (JIT)
Defined: A 2023 Guide | NetSuite, 2023]
Capital: Actually financial resources is the most relevance element for business. If there are not
existing financial resources then their all activities must be fall very first time without any step.
Capital is the soul of all types of business. So it’s another essential tangible resources of
business. Sufficient capital is a essential for primary investment, operational expenses, and
maintain various challenges. By the enough fund a new venture can buy raw materials. [Sole
Proprietorship: What It Is, Pros & Cons, and Differences From .., 2023]

 Intangible Resources:
Knowledge: understanding of the market situation is most and essential activities of trends of
market. To be focus on audience is essential and intangible.
Human Resources: skilled employees are play very significant role for every business
organization. Skilful employees contribute to the increase productivity.
Intellectual Property: When you create an innovative brand, then it’s can be leakage by
dishonest person. We know that intellectual property is very important for business. If you take
step by Trademark, patents, copyrights then it be secure unique ideas or products to provide a
competitive advantage. [How to protect your intellectual property | Legal zoom, 2023]
Brand goodwill: We know that an extraordinary and exceptional brands can create a big image
by its own performance. A good brand image creates trust and attention customers and impact
for long term. [Reputation and Its Risks, 2023]
Time utilise: its universal truth time is the most important thing in all over the world for ever.
Also Time is very important for any business or company. It’s is very vital to investment time a
new venture for development, testing and entry of market.
Management's dedication: The dedication of management body is most important for every
business success. The dedication of the management leadership team is intangible also vital
resources that makes and influences the new ventures adaptability.

 Strength and weaknesses: We know that about create a new venture is very challenging
task. Also creation a new venture is very risky matter. There are some strength of
tangible and intangible resources are -if the ventures can provide huge amount of capital
then they can collection raw materials and technology opportunities. And we see,
manpower is the big strength for new ventures and not enough financial funding is
weakness for ventures.
[The digitalisation of small and medium-sized enterprises in Italy .., 2023]
: To be collect enough money and take opportunity modern technology and skilful manpower. And to be
secure intellectual property properly.

So, balancing these resources is crucial for a successful venture to sustainability and
competitiveness in the market place.

M1 Evaluate the availability and appropriateness of the tangible and intangible resources
required to launch a new venture.

Let’s evaluate the tangible and intangible resources required to launch a new venture.
Tangible Resources:
1. Technology:
Availability: It is essential term to be evaluate to relevant technology for communication,
production, and others activities or operational needs.
Appropriateness: It must to be need to be ensure that the technology is modern and up -to-date
and adapted with industry standards and adaptation.
2. Physical Assets:
Availability: For new venture it is essential to be check if essential physical assets like
equipment, office space.
Appropriateness: It must to be ensure these resources are suitable for the new venture’s future
needs and immediate needs.
3. Financial Capital:
Availability: Finance is the most important things in every venture. To be ensure availability of
finance for ongoing operations and primary investment.
Appropriateness: To be evaluate it the amount of finance of the initial capital aligns with the
nature and scale of the venture.

Intangible Resources:
1. Knowledge and Expertise:
Availability: knowledge is the powerhouse of think tank policy makers. It’s to be determine if
access to specific expertise and knowledge of industry for new venture.
Appropriateness: So it should be appropriate. To be evaluate and ensure that the specific
knowledge is suitable for the new venture and it’s appropriate.
2. Networks and Relationships:
Availability: It is the other essential elements for business. To be assess the existing
professional relationships and networks.
Appropriateness: To be ensure that the relationships and professional networks is appropriate
and relevance for the new venture. It’s very important.

3. Intellectual Property or Assets:

Availability: It must be needs for new venture. To be check intellectual property if there are
any effective and unique intellectual assets existing like patents, trademark that provide surely a
competitive advantage.
Appropriateness: To be insure that the relevance and protection of the property to the new
venture’s market position.
4. Human Capital assets:
Availability: To be evaluate the experienced and skills of the teams members.
Appropriateness: To be ensure that the team skills and efficiency to execute the venture’s plans
very effectively.
5. Reputation and Branding:
Availability: To be evaluate the current brand equity and reputation very carefully.
Appropriateness: To be ensure and consider that the existing brand and reputation is relevance
and appropriate for the new venture. It’s very essential for venture.

So we see that these resources is very essential and effective for business. By thoroughly
evaluating both tangible and intangible resources in these dimensions, you can gauge the
readiness and suitability of resources for launching the new venture...
LO2 Explore the skills and capabilities required to support the launch of
a new venture.
P2 Discuss the different skills and capabilities required to launch a new venture.

Technical and managerial skills:

It’s very essential and effective term for new venture. The capacity to viably oversee accounts
and human assets is portion of human asset administration and can be utilized to attain short-
term and long-term objectives.

Modern Network Skills:

It’s is the others essential skills for new venture success. By organizing, you'll be able develop
solid associations that will assist you as your company develops.

Project Management Skills:

This skills very effective for new venture to success for gain the goals. Venture administration
aptitudes are the capacity to successfully lead a extend and contribute to its usage. Each modern
firm can be seen as a goal-oriented venture that must be effectively overseen in terms of
unmistakable and intangible assets. [A Manager, 2023]
Financial experience:
It’s the common effective skills need for every new venture. When beginning a modern
commerce, it is exceptionally imperative to have great cash administration abilities, since
misappropriation or misappropriation of cash can lead to money related issues. Budgetary
aptitudes can be learned through different bookkeeping and back courses. In expansion, real-
world involvement can offer assistance create budgetary abilities.
Leadership Skills:

Most and effective skills for a successful venture. People's entrepreneurial abilities incorporate
advancement, knowledge, problem-solving aptitudes, fast decision-making, and the capacity to
require on unused challenges. All these entrepreneurial aptitudes are required to begin an unused
trade and effectively move forward. Setting up certain guidelines and strategies, planning your
working environment, and making web site are a few of the things you wish to do to start a trade.
In case you oversee your time, cash, and vitality successfully, you'll accomplish your objectives.

Planning Skills for Venture:

When you want to create a new venture you must be need a proper planning. Beginning a trade
requires overseeing a number of errands, counting setting up web site, planning your trade
format, and building up particular arrangements and methods
Proper Communication Skills:
Communication skills is the very effective and essential skills for any new venture success.
Without communication skill you cannot success for obtain final destination. It is essential to
conversation and arrange with providers, potential speculators, clients and workers. Building
solid connections at work will be simpler in the event that you've got effective written and verbal
communication abilities. The required impact ought to be reflected in each discussion you've got.

Problems Solution Skills:

To be need solution skilled personnel for new venture. No matter how much you arrange, your
company will confront challenges. This now and then requires the capacity to create shrewd
choices with coherence. Without it’s the venture can face various problems.

Sales Skills
Sales skills is one of the most essential skills for business. The capacity to offer your item or
benefit viably is exceptionally imperative. You'll be able increment deals by giving great client
benefit and utilizing showcasing methodologies.
Financial management Skills
Finance is very essential and crucial fir venture. So, financial skills is the most effective skills for
venture success. It is exceptionally imperative to have cash administration abilities. You would
like to be able to oversee benefit and misfortune and estimate your deals and cash stream. Salary
must moreover be sent to the Australian Tax collection Office. A Basic Guide to Exporting,
2023)
Appropriate Leadership Skills
Leadership skills is the other essential and relevant skills for venture. You would like to be able
to persuade your representatives in the event that you need to maximize their potential and
increment their efficiency. It can help to achieving business goals.

M2 Evaluate a range of skills and capabilities required for launching a new venture.
1. Market Research: To be need ability of analysis of market trends, customer’s needs,
competitors situation in the market place and informs decision ability.
2...Financial Acumen: To be needs ability of finance managing, risk and opportunities.
03. .Resilience: To be take step to setbacks and maintaining inspiration in face of various
challenges.
4...Problem Solving: Must be need ability of quickly identifying and solving issues arise during
the early phase.
5. Networking: To be need building and leveraging a very professional network system for
venture to support, advice and possible partnerships
6. Marketing and Sales: To be create an effective and implementing strategies for service and
product.
7. Tech Savvy: To be understanding the effective and relevant tools and technologies for enough
operations.
8 .Risk Management: Evaluating and mitigating potential risk maintained with the new
venture.
9. Negotiation Skills: It must to be need negotiation skills for deals with suppliers, partners and
various investors.
10. Time Management: Time management is very essential for any business or venture to
properly doing operational activities.

D1 Critically evaluates the availability and appropriateness of resources, skills and

capabilities to support the successful launch of a new venture.

When you want to create a new venture you face a little trade can be troublesome. You have got
to utilize a few items that you simply do not know however. You need to be very effective and
promotional activities for new venture. The great news is that as you advance, you'll pick up the
information and aptitudes you would like to recognize these assets more frequently and utilize
them effectively.
Five assets that ought to be prioritized by little commerce proprietors:
1. Financial assets
2. Physical resources
3. Intellectual resources.
4. Human resources
5. Advanced technology resources
An Experienced business people can increment their chances of victory by leveraging accessible
budgetary, physical, mental, human and computerized assets. It’s important for every business to
achievement of goals.
LO3 Develop promotional activities to support the launch of a new
venture.
P3 Devise a promotional activities plan for the launch of a new venture.

1)Social Media Teasers: To be create excitement by sharing teasers on various social media
platforms in the early time of the launching. Actually it is very effective way to promotion. To be
attach various influential caption for the new venture.
2. Countdown Campaign: To be implement or create a countdown campaign on website and
various social media. To be reveal every day a new aspect of the new venture, and to be building
influencing approach for audience.
3. Launch Event: To be host a physical or virtual event for launch, depending on the
characteristics of the new venture very details. It’s very influencing activities of new venture to
gain popularity for venture.
4. Exclusive Pre-launch Offers: It’s the others very effective way to gain market or popularity
of new venture to be make an exclusive pre – launch offers with special discounts or free offers.
Actually it would be very effective for new venture.
5. Collaborations and Partnerships: To be create collaborative activities with others familiar
company’s so that new venture can obtain popularity. This can assist to gain huge amount of
audience and expand the new venture promotion very rapidly. [Partnership marketing — what it
is, why it, 2023]
6. Email Marketing Campaign: This is the other effective techniques to build an email address
list of target audience and to be send promotional messages for influence to the new venture for
gain new audience. It’s would be very effective campaign for new venture.

M3 Develops a wide range of promotional activities that address the marketing mix to
support the launch of a new venture.
Relationship with Audience: It is the most effective promotional activities to be create
relationship with audience. We'll contract almost fifteen individuals with incredible
communication and interpersonal skills because open relations can be a really cheap special
instrument. These representatives will go on field trips to construct trusting connections with
potential clients.
Proper and Effective Advertisement: Some time recently beginning our modern work. We are
going run promotions for our items in territorial distributions, daily papers, and ochre and most
imperatively on social media and other prevalent websites. The advancement will proceed indeed
in case the unused work begins

Personal Selling promotion: It is the other most effective activities to be create personal selling
promotion. Individual offering through deals drive portrays the coordinate deal of products or
administrations to clients.
Sales Promotion: As the request for our items will be very moo within the to begin with days of
our modern company, we'll run a deals campaign advertising rebates and free tests to extend
deals.
It’s the effective and essential activities to sales promotion Deals advancement could be a brief
way to extend a company's deals utilizing different methodologies such as bringing down costs
or advertising more items at the same cost.

D2 Create a promotional activities plan that includes a set of Aishwarya voice to evaluate
success.
LO4 Produce a budget for launching a small business or social enterprise
venture.
P4 Produce an itemised monthly cash budget for the pre-launch phase and the first 12–18
months following launch.
Pre -Launch Period

1) Market Research and Development : (month 1-3)

Market research cost €3500
Product development expenses €7500
Legal and registration fees €2700 €13700

2) Pre-launch marketing : ( month 4-6)

Website development €5500
Marketing materials €7000
Social media advertising €3000 €15500

3)Operational Setup : ( month 7-9)

Office space or equipment €12000
Initial inventory of supplies €7500
Software and technology setup €2700 €22200

4)Contingency ( month 10-12 )

Buffer for expected expenses €2200
Emergency funds for initial challenges €2300 €4500
Total €55900

Post -Launch Period

1)Fixed Monthly Expenses :

Rent or mortgage €55000
Utility €2200
Insurance €1500 €58700
2)Operational costs :
Employee salaries €2200
Raw materials or inventory €40000
Marketing and advertising €4000 €46200

3)Administrative costs:
Accounting and bookkeeping €5500
Software subscriptions €2200
Office supplies €1500 €9200

4)Debt payment :
Loan payment €2300 €2300

5) Variable Expanses :
Additional staff hiring €1500
Increase marketing budget €1500
Scaling production cost €3000 €6000
Total (€55900+€122400) = €178300
6)Revenue Projection: (month 13-18)
Profit margin
Sales forecasts month 13: (€200000 -178300) = €21700 = 10.85%
Month 14: (€ 210000 -178300) = €31700= 15.09%
Month 15: (€205000 -178300) = €26700 = 13.02%
Month 16: (€220000 -178300) = €41700 = 18.95%
Month 17: (€ 210000 -178300) = €31700=15.09%
Month 18: (€ 212000 -178300) = €33700 =15.90%
M4: Produce a detailed monthly cash budget, showing one-off costs, ongoing costs and
anticipated income post and pre-launch.
In arrange to create a arrange, you must to begin with decide its shape and work. Hence, a
extraordinary budget ought to be arranged for this arrange. All costs for the arrange are said.
Settled costs, current costs, revenue, expenses, etc. So here could be a point by point month to
month cash budget
Seles 150000
less
Fixed cost 20,000
Current cost 55,000
others expense 10,000
85,000
Total Profit 65,000

D3 Produce a comprehensive pre- and post-launch monthly itemised cash budget based
on financial resources and contingency measures for anticipated outcomes.
Here the pre -and post -post launch monthly itemised cash budget based on available fund.

Monthly cash Budget (Pre-launch):

1. Research and Development:

Costs of product development €3500
Testing and prototyping costs €1500 €5000
2. Marketing:
Advertising (pre-launch) €4000
Expenses of market research €5000 €9000
3. Operations:
Rent for workspace €1500
Salaries and benefits of employees €7500
Technology and software expenses €2200 €11200
4. Legal and compliance:
Legal fees €1700
Licenses and permits €500 €2200
5. Contingency:
Unexpected expenses €1200
Unforeseen challenges €700 €1900
Total €29300

Monthly Cash Budget (Post -launch )

1. Advertising and Marketing:

Social media campaigns €1100
Advertising costs (ongoing) €500 €1600
2. Operations:
Continued employee salaries and benefits €7500
Equipment and maintenance costs €4000 €11500
3. Sales and Distribution:
Distribution costs €2500
Commissions for sales team €700 €3200
Total €16300
Total pre and post launch cash budget =( €29300+16300)=€45600

My Backup plans for Expected Results:

Analysis of Scenario
KPIs= Key performance indicators
Proper advertising
Proper planning
 Proper strategy
Proper security system
Proper production system
Monitoring cash flow
Customer’s feedback.
These indicators are very effective and influential for new venture.
Conclusion:
In this report described about my new venture “London restaurant”. Although starting a new
business seems simple, there are actually many challenges. “London restaurant” in the UK want
to increase their customer base and increase their profits. However, our restaurant management
faces stiff competition from its competitors for its current products, so the business management
chooses to start a new business with some new products. As a successful entrepreneur and senior
sales manager in a restaurant, I created a business plan to start a new company called London
Restaurant New Branch. Mainly, it will provide customers with fresh fruit and vegetable juices
which are highly demanded in the market as their health awareness is increasing day by day.
New venture products will be marketed based on a business plan, which will detail the resources
needed to start the business. The development of new businesses plays an important role in job
creation and economic growth. A new venture or business venture is broadly defined as a
business that is in the early stages of growth and development. Often, the goal of marketing a
product or service is to create and develop a customer base. Compared to established companies,
new companies are more likely to fail because they often have limited resources and lack
"experience" with external buyers and suppliers. The phenomenon of "responsibility for
innovation" has inspired researchers from many disciplines, including economics, sociology,
psychology and management, to learn how to manage new businesses and improve their
performance. There all promotional activities must be need and very effective.
References:
Bandon, 2023. Opening nightmare: launching a restaurant into a world stricken by . [online]
Available at: <https://www.theguardian.com/food/2022/feb/15/launching-restaurant-covid-
brexit-polpo-russell-norman-brutto> [Accessed 29 November 2023].
Adnan, 2023. Just-in-Time Inventory (JIT) Defined: A 2023 Guide | NetSuite. [online] Available
at: <https://www.netsuite.com/portal/resource/articles/inventory-management/just-in-time-
inventory.shtml> [Accessed 29 November 2023].
Rift, 2023. Sole Proprietorship: What It Is, Pros & Cons, and Differences From. [online]
Available at: <https://www.investopedia.com/terms/s/soleproprietorship.asp> [Accessed 29
November 2023].
Sadik., 2023. How to protect your intellectual property | Legalzoom. [online] Available at:
<https://www.legalzoom.com/articles/how-to-protect-your-intellectual-property> [Accessed 29
November 2023].
Sibli, 2023. Reputation and Its Risks. [online] Available at: <https://hbr.org/2007/02/reputation-
and-its-risks> [Accessed 29 November 2023].
Sidud., 2023. The digitalisation of small and medium-sized enterprises in Italy . [online]
Available at:
<https://www.eib.org/attachments/thematic/digitalisation_of_smes_in_italy_summary_en.pdf>
[Accessed 29 November 2023].
Annan., 2023. A Manager. [online] Available at: <https://online.hbs.edu/blog/post/strategy-
implementation-for-managers> [Accessed 29 November 2023].
Jania., 2023. A Basic Guide to Exporting. [online] Available at:
<https://legacy.trade.gov/guide_to_exporting.pdf> [Accessed 29 November 2023].
Bahu, 2023. Partnership marketing — what it is, why it. [online] Available at:
<https://business.adobe.com/blog/basics/partnership-marketing-guide> [Accessed 29 November
2023].