INTRODUCTION
The
name of
the
business
is
SILOG.COM. Researchers come up with a small
business which
dishes
promotes the popular Filipino food tapsilog. Silog
became
part of our Philippine Cuisine because aside from
its affordable price, it
is also easy to prepare. It is also our reason
why we ventured into
The reason why we
selling tapsilog.
come up with Cubaos SILOG.COM as
the
of
name
our
business
because
combination
is
.com
means
of
silog
dishes or combosilog and the name of the place which is Cubao, to inform
our customer where the business is located at.
1
Some of our products include tapsilog, bangsilog, tocilog and etc.
SILOG.COM sets high quality standards with its product and service. As
investors or owners, we prioritize and believe that customer satisfaction
will be our prime goal.
SILOG.COMS VISION/MISSION
SILOG.COM envisions to provide satisfaction to its customers with
high quality, delectable and tasty silog dishes, and harmonious customer
service relations and be socially competent business enterprise equipped
with skillful, knowledgeable and respectful employees. SILOG.COM
combines product and service satisfaction to build and establish customer
loyalty.
SILOG.COM endeavors to provide customer with high quality silog
dishes and satisfaction to provide superior customer service and to gain
public acceptance.
OBJECTIVES
The researchers set objectives that would guide them in order to
achieve its vision and mission.
The following are the short range objectives of SILOG.COM: 1.) To
sell at least 750 silog dishes a day 2.) To recover the capital investment in
2
less than 2 years 3.) To provide 100% product satisfaction to the
customers 4.) To be able to increase the annual sales by 5% on the
second year of operation and 5.) To establish a name in the chosen
location as a business which serves tasty silog dishes in less than 2 years.
The following are the long range objectives of SILOG.COM: 1.) To
be able to have a 25% market share nationwide 2.) To have branches all
over the Philippines 3.) To expand the range of business as it continues
the operation and 4.) To improve the production and supply of a local
market.
FEASIBILITY CRITERIA
Market Aspect
SILOG.COM is located at Stall No. 20, Araneta Center Bus
Terminal, Cubao Supercentre, Times Square Ave., Brgy. Socorro, Cubao,
Quezon City (vacant as of July 21, 2013). Within the area, we have five
direct competitors namely 7 Eleven, Ministop, MIV Eatery, Kanan Na! and
Luto ni Pards and two indirect competitors namely Dunkin Donut and
Mister Donut.
Based on personal observation and demand and supply analysis,
the business will cater 750 estimated daily customers. Those are the
people who are interested in buying our products.
The company assumes that sales on the first year of operation will
be P8,640,000 increase by 10% in the following three years.
Also, the business will adopt different marketing strategies to
increase its sales and plan various promotional mix to attract and satisfy
customers. Promotional strategies include tarpaulin, promo card, loyalty
card and many more. The total cost for promotional expense is P23,850.
Technical Aspect
SILOG.COM offers different kind of silog dishes. Compared to
usual tapsihan, SILOG.COM will promote the so-called COMBOSILOG. It
contains two silog dishes plus sinangag and itlog. We ensure that prices of
our products are affordable.
Selling price of each product is computed by adding 50% mark-up
and 12% VAT to the preparation cost. Mark-up consists of 10% labor cost
and another 10% for utilities cost. The remaining 30% will be allotted for
the profit of the business.
The total cost for purchases of store equipment, store furniture and
fixtures, store supplies and store utensils is P128,471.75. The total cost
for raw materials or purchases expense is P4,822,376.45 and lastly
utilities expense is P15,772.94.
Management Aspect
The business is owned by seven investors. They decided to take
limited partnership as their type of business ownership. Each partner will
contribute P70,000 to come up with P490,000 as the capital of the
business.
The company spent P12,658.17 on its pre-operating activities
which will be needed to legalize the business. Pre-operating activities
includes securing of forms and licenses from different government
agencies.
There will be nine employees 3 cook, 3 assistant cook and 3
crews. They will receive monthly compensation amounting to P12,000,
P9,000 and P10,500 respectively. Each employee also receives 13 th
month pay. Employees uniform will be provided by the company
amounting to P18,000.
SILOG.COM will rent a stall amounting to P20,000 per month.
There will be two months advance and one month deposit. The companys
office is also located within the stall. The total cost for office furniture and
fixtures, office equipment and office supplies is P62,593.
Financial Aspect
The
total
projected
cost
of
the
company
amounted
to
P6,761,947.26 . The projected sales of the business will increase by 10%
every year.
LIMITATIONS OF THE PROJECT
The study is focused only on food service products primarily on the
silog dishes. The cover area of this will be at Araneta Center Bus Terminal,
Cubao Supercentre, Times Square Ave., Brgy. Socorro, Cubao, Quezon
City where 29 bus lines pass by. It is also within the vicinity of Shopwise
where our target customers will be the market goers. The researchers
chose the said location because of accessibility and convenience on
target market.
The primary objective of this study is to determine the feasibility of
the business in the market. The business is expected to start on the first
week on June 2014.
