716 FAMILY KTV

Presented by :
Jan Mark Bacus & Jennielyn Allen

2024-2025

Part 1 :
The Introduction

DESCRIPTION OF BUSINESS
716 Family KTV will be

 located in Alabel, Sarangani

 It will be divided into 7 private rooms and an open space.
 Offer uncountable nights full of fun and joy where the enjoyment will be
waiting for the people and their families.
 Serve a variety of drinks and meals.
 People will sing till the morning comes.

FORM OF BUSINESS OWNERSHIP

The business will grow with two primary partners. Our complementary skills will
make this growth an executable task.
IDEAL CUSTOMER
Our ideal customers are those who believe that singing and drinking form a perfect
match in a family- oriented environment.
COMPANY ADVANTAGES
Customers can feel free to choose their songs in their private rooms, all in drinking
and eating.
They can also join the open space where they will find a perfect atmosphere waiting
for them.
716 Family KTV will be also the first in Alabel, Sarangani.

Part 2 :
The company
and management team
Mission Statement
Our mission statement
Our company aims:

 To maintain karaoke machines to avoid any technical problems.

 To organize private rooms to avoid organization problems.
 To serve fresh drinks from non-alcoholic to alcoholic drinks.
 To serve delicious food that meets the highest standards of quality.
 To be professional to provide our customers with impeccable service.
 To have every customer who comes through our doors leave impressed by the
karaoke bar and excited to come back again.
 To provide a fantastic environment to encourage workers to work harder.

Ethical issues
We will:

 Ensure that our food and drink meet the highest standards of quality and
freshness before and after they are prepared.
 Ensure a good match between quality and price.
 Ensure that our employees are well treated at all times.
 Ensure a good connection between customers and workers.

Social Responsibility
We aren’t only creating a bar we are creating a brand. We will also encourage young
bands all over Sarangani to perform on our stage in the open space.
Industry Description
The bar sector is in the services industry nowadays, there are many types of bars
fighting for the same potential customer base. Alcohol, bands, meals and lights are
all a necessity to make a successful business in the bars sector.
Additionally, known bars are all potential threats to our customer base.
The 716 Family KTV will accept the general rule of bars such as tasty drinks,
delicious meals, qualified bands and original decoration. But it will offer an
astonishing new concept in Sarangani to reach another level of entertainment.

SWOT
STRENGTHS
Foremost, we will hire a highly motivated staff with good experience in the KTV
industry. Additionally, the location of the business is in the heart of the city. Lastly,
we have private rooms which guarantee more fun between friends and families.

WEAKNESSES
  Parking facilities
 Maintaining image
 Limited business life
 Operating Costs

OPPORTUNITIES
 Alabel is in a central downtown for all groups of people who are looking for
amazing entertainment. The location of the business is in a strategic place.
 Furthermore, the opportunity exists to expand the business because of it’s
originality.

THREATS

 An economic issue affecting prices is another possible threat. Sometimes,

fights can affect the image of the bar too.

Anticipated challenges and Planned responses

Anticipated challenges
We have two major anticipated challenges:

 We must obtain sufficient funds to start the business

 We must gain a good position within the community

Planned responses

 As partners, and as ex- OFW we are planning to partially contribute the

projected funds needed to start our business and partially to take a loan from
OWWA.

The Management Team

Part 3 :
Marketing
Market Analysis
Market Research
The 716 Family KTV will have two markets.

 The first target market is the young community

 The second target market is the karaoke lover community.
 The office and municipality workers and their families from the city.

Competitors
None in the area.
Pricing
Our pricing strategy is fairly simple. We plan to rent private rooms per hour. In
addition, our menu will offer drinks and food with prices reflecting our quality
products.
Sales and Promotion
Place issues
Alabel is a perfect festive area to maintain a business like ours. It offers the type of
customer base we are looking for. We foresee no issues.
Advertising

 Social networks.
 An official site on the Internet.
 Creating events on Facebook and Instagram.

Promotions

 free drink to all our customers who will rent a room for karaoke night.
 When a group of customers rent a room for 2 hours will get a promotion of 10
minutes.
 Having promotions during summer to build attention. Because it’s known that
this period attracts visitors from the entire world.

Part 4 :
The Financials
Expected Revenues

 Daily revenue :
 Yearly revenues of approximately :

Cost of doing business

 Monthly : 4.5 million Php

 Yearly :

Startup Costs
4.5 million PhP

 Building Construction Cost:

 Operating Expenses:
 Non-Opertaiong Expenses:
Financing
The the partners will each put a total of 1.125 Million Php in the startup of this
business. The remaining 2.250 million Php is the amount that we are requesting for
loan/financing.
12 Months Income Statement
Balance Sheet