BUSINESS PLAN

Creating and Starting a New Business Venture

[Name of Degree]

Table of contents

Table of contents1

Introduction2

Discussion2

Product and Service5

Market Research5

Market Analysis6

Pestle Analysis6

Overview of market8

Target Market9

Competition9

Venture Marketing Strategy10

Marketing strategies10

Promotion11

Co-op promotions12

Coupon flyers12

Mail13

Location13

Product14

Price14

Finance14

Start up costs14

Cash flow projections15

Conclusion16

Reflective statement16

Role of entrepreneurs in the economy17

References20

Creating and Starting a New Business Venture

Introduction

The purpose of this paper is to create a new business venture according to my personal capabilities and choice. For this paper the business venture than I plan on starting is a restaurant, which would be run by my mother, while I would focus on the finances related to the business, the purpose for choosing this venture is because I wish to give back something to my mother, who always dreamt of owning a restaurant.

Discussion

Currently enrolled as a student at the University of Wolverhampton Business School, studying Business Management has been a great opportunity for me to realize and materialize my dream of pursuing accounting and finance, however my ultimate and biggest dream is to give back something to my mother, hence the restaurant that will be in her honour, a small place where she should have the liberty of doing as she pleases. I am a highlight motivated and hardworking person with determinations and a desire to learn and expand my knowledge. I've have always been exceptional with numbers and figures. Early on in life I developed a very deep personality by choosing to think regarding matters and trying to understand how to make things work. I guess this is the main reason why I have made it so far in life, because I always analyse everything and make sure the steps I plan on taking are the right ones.

Based on my personal SWOT analysis I have understood my personal strengths a lot easier, I have immense numeracy and quantitative skills, data analysis and extrapolations, I always adapt myself with changes and have been able to cope with difficult working environments. I also like to reflect on my inner self and try to devise solutions to matters without losing my composure and this helps me be a good leader and have also made me a compassionate person who considers the matters of others and I am also a very good listener and problem solver. My main weaknesses are the inability to make quick decisions, like I have already mentioned I like to carefully analyse and assess every aspect at hand and before I can make any decision I need to have sound information in order to be sure that the choices that I am making are the effective ones, based on my nature I also tend my find myself in situations where I refrain from taking too many risks which is a great weakness since entering the business world a person needs to make countless decisions and take risks in order to stand out, this is the main reason why I have placed my mother in charge of my business venture since she has had prior working experience and has the potential to take difficult decisions in times ...