1.0. Introduction: Now-a-days business is the most profitable form of earnings. Opening a business is both exciting and risky. A person might face different obstacles while opening a new business. To open a business in a particular area there are different things to consider.
1.1. Origin of report: Project report is a practical part of academic studies. This is a reflection of academic knowledge throw practical work experience. Thus this project report aims to reflect the professional view of a real world work environment.
This report is assigned by our honorable faculty Mr. Md. Tarikul Islam, as a requirement of our business communication course, which is a core course to the completion of our undergraduate program. Because of his proper guidance we are able to complete this report in a very well manner and short time.
1.2. Purpose of the report: The main purpose of the report is to fulfill the mandatory requirement for the Business communication course. Other purposes are:
• To prepare an overview of introducing a new venture
• Analyze different aspects related to the venture
• Identify the opportunities for doing a business
• Develop ideas to build up a business

1.3. Scope of the report: We have conducted surveys within the people of that area. This is a huge opportunity for us. Because we have surveyed our original target customers. So, we got a clear idea about their choices and their purchase decisions. This report will help us to do the business in a very smooth and efficient manner.
1.4. Methodology of the report: We don’t have any secondary resources in our work. All the data have been collected and gathered by us. We categorized our work in some parts. Two of our group members set the survey questions. As we know that the area which we have chosen is very big and populated. So regarding the people of that area in mind we have successfully surveyed of 20 different kinds of stores and music shop and 150 people to fulfill our course requirement. By analyzing the need of the people of that area we found that 70% of the people want a store which includes branded ware, cosmetics, as well as music corner. 25% people were neutral in this case, and rest 5% people were not feeling any necessity for opening a new shop.
1.5. Limitations and Delimitations: As we know that, in the world nothing is called perfect. So in this case we do find some barriers which make the work apparently harder than we thought. Here are some limitations which we find regarding making our report:
• Time constraint
• Financial limitation
• Informational issues. In spite of having some limitations we have make some sincere efforts, such as surveying different people of different ages and with a very well designed questionnaire, which make the repot more informative. The outcome of the study can thus be regarded exploratory, and may not be treated as absolute for the whole country. In the latter case more comprehensive study is required.
1.6. Report Preview: After developing the idea of opening a new venture, we started working through surveys and collecting information about opening a new business from different places. Then we choose a location for our business and took decision about the type of business we will start. Then we thought about the management of the business and took necessary steps by preparing an estimated budget for our business including every type of expenses. Finally the business is ready to be started.

2.0. Introducing the New Venture: With the idea of opening the new venture, we had to consider different things such as the location and the structure of the business. Location and structure is the most important thing for any business. So, we gave these things more importance.
2.1. Collecting a Trade License: To do business, the most important thing is to make the business legal by the government, for this reason we need trade license. In our way to opening a new venture we have also managed to get a trade license. So, now the business is totally legal and we can do business in the way we want.
2.2. Location of the Business: For our new venture we choose our area Aftabnagar. It is a very crowded place and this place is also very well-known to everyone. Recently the area is developing so fast and well known universities are shifting their campus here. As a developing area well known brands haven’t open their outlets wet. The area is also very beautiful and contains several fields. For this reason sometimes people come here to visit the place. So, it is an opportunity for us to start business there and grab the market from the beginning. For this reason, the idea of opening a new venture in this area has been developed in our mind. Here in the figure, the red circle in the map of Dhaka city is the location of our business. Figure 2.1: Location of the business at Aftab Nagar

2.3. Type of our Venture: After doing our survey on different people of the area we found that, there are a large number of young people because of the new campus of East West University. After analyzing their choices we found that a large number of people want a shop of clothing, accessories, music and food court. This can be a very profitable business here, and this is the main reason behind our choice to select this business. Figure 2.2: Survey of customer choices for different shops
After the survey we have decided to open a store including clothing, music and accessories.
2.4. Selecting the Name of the Shop: As our target customers are young generation so we have selected a name which will attract them. The name of the store will be “Fashion House & Muzik Zone”. We have also designed a logo for the shop, which is very fashionable and suitable with our target customer group. Figure 2.3: The logo of our shop

2.5. Structure of our Shop: Structure and the size of any shop is a very important tool for attracting customers. So, after deciding the name we need a proper structure for our shop. The shop should be well decorated and lucrative. Keeping this in our mind we have developed a structure for our shop. Figure 2.4: Structure of the shop

3.0. Selection of Products and Budget Management: It is very important for any shop to select the products for sell. Here we need to select products which are both attractive and affordable to our target customers. For this reason first we need to know the income level of the people of area. But gathering information about the income is a very tough work because, no one want to say their true income. So, we have taken different approach to collect this information. We have included some expensive and inexpensive price products in our questionnaire to know their buying behavior. Figure 3.1: Customers perception of product price/branded products
3.1. Product Types: Analyzing the target customers choices we have developed the list of products which we want to include in our shop. As we deal with fashionable items so we will keep branded products in our shop. Based on the target consumers demand and affordability we have to select the items. In the table below we have included some products which we want to keep in our shop.

 Accessories: o Perfumes o Cosmetics o Hair colors o Bracelets o Customized rings o Fashionable Items

 Portable Items: o Bags o Shoes o Watches o Wallets o Belts
 Clothing: o Formal Dresses o T-shirts and trousers o Fade jeans & Denims o Short Shirts o 3 pieces o Skirts
 Music: o Different genres of Hindi, English and Bangla music o Free web browsing facilities o Free listening of any kind of music
These are some common items we want to keep in our shop. Most of them are based on the choice of our targeted customers which we have analyzed from the survey.

3.2. Shop Management: To continue a business swiftly management is very necessary. So, we also need to keep this in mind. The shop has to be well decorated and always neat & clean. We need to hire employees to manage the shop well and handle the pressure of customers. We also need to manage the electricity and water facility in the shop. These all things incur costs. In the diagram below we can see the cost associated with the management and maintenance. Figure 3.2: Cost of management and maintenance
3.3. Allocation of Budget: We want to start our business with a capital of Tk. 3,000,000. And we need to allocate this money in a way so that, we can capitalize on our strategy. The allocation of our budget is shown in the table below.

Table 3.1: The allocation of the budget
Item Amount Percentage
Advance for the shop 450,000 Tk. 15%
Merchandise purchase 1,200,000 Tk. 40%
Advertisement 900,000 Tk. 30%
Decoration of the shop 300,000 Tk. 10%
Others 150,000 Tk. 5%
Total 3,000,000 Tk. 100%

3.4. Advertisement: There are different approaches of advertisements in the world. Because our business is a small business in an area so we will focus on specific customer groups. And the advertisement methods we will use are:
• Leaflets
• Billboards
• Banners
• Posters
The allocation of the advertisement budget between these items is given in the figure below: Figure 3.3: The allocation of advertising budget
4.0. Report Ending:
4.1. Report Summary: The report is all about opening a new venture in a particular area and the area of our choice is Aftab Nagar. Developing structure of the area has influenced us to do business there. We have also decided the type and name of the venture. Then we discussed about the structure of our shop.
Here the budgeting and the management of the new venture have been discussed briefly. We also discussed about the different methods of advertising we are supposed to use. The whole report is based on these topics, and we have worked through the report in proper way.
4.2. Conclusion: Business is the most profitable source of income. But doing business is a very easy task. Especially, opening a business is a very hard task and to introduce a new business people have to struggle a lot. I need a lot of hard work and valuable time and also significant amount of money which should be invested properly. Before introduce any kind of business there must a clear goal and a vision. After that a good plan is needed to go further to achieve the goal. If everything goes according to the plan then the business will be a very successful and profitable business in the future.
4.3. Recommendations: Though the business is our own, still we have something to recommend.
 Everything should be done according to the plan
 Maintaining the cost within the budget
 Survey should be analyze properly
 Advertisement budget and process should be monitored closely.