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Transcript of CHOWKING
Franchising a business is most preferred by businessmen and entrepreneurs than starting a new one from the scratch. With the utmost idea, this business plan depicts how the partners intend to grow and planned for the franchise of Chowking.
Chowking, as a fast food chain be determined to serve a wide range of people. Competition is an ingredient and cannot be avoided in every business endeavor and this result to a number of direct and indirect competitors of Chowking. The products and services that are being offered are priced on the basis of those competitors which suit the target markets and that they can choose for alternatives. Customers and clients will be able to reach Chowking by phone, directly to the chain and email.
Production and Operations Plan
Chowking branch at Robinsons extension building will come out with its sole lay outs and design. The business will enhance its food preparation safety and sanitation. Since it is a franchise, the construction of buildings will be adapted from what other Chowking branches looked like.
Chowking is owned by partners. The business will hire employees with matching skills to fill the jobs. A job description and job specification are designed in order that employees will know their duties and responsibilities. The employees hired by the business will be compensated accordingly.
Organization and Management Plan
The social benefits of the business are giving jobs to people and training its employees. Social benefits can also be derived from the taxes Chowking pays the government. These taxes the Chowking pays the government will contribute in the improvement of the country in general. The impact of the project to the community includes job creation, improvement of the quality of life, contributes to a more equitable distribution of income, popularity and self-sufficiency.
food industry has flourished
very well in the Philippines, and the
Ilocos region is no exception.
Description of the Business
Reasons in Going into the Business
San Nicolas is a municipality with a booming economy; its doors are opening for more business opportunities.
Lot of people who come from other places come to put up business in this town.
Since Chowking will be situated in a business friendly zone, it will be profitable and sustainable.
Chowking will have a secluded part to cater business meetings with utmost privacy and convenience.
This store will be the first franchise in San Nicolas, and third in the province.
To become the most preferred restaurant in the Ilocos province patronized by all people from all walks of life.
To provide quality food that surpasses customer expectation and render quality dining experience through prompt, friendly and professional customer service.
• Organizing an experienced and effective staff in different roles inside the restaurant.
• To provide a means of livelihood for the townspeople.
• To establish chowking as a business-friendly and family-oriented restaurant.
• To achieve optimum customer satisfaction and establish reputation in the food business.
• Cash flow is self-sufficient in the first 10 months.
• Return on investment is compensated the soonest possible time.
• Benefit the government through taxes.
GOALS and OBJECTIVES
1. Corporate businesses that needs to hold meeting/planning
4. Businessman working in extended hours
Supply Analysis / Competition Analysis
Jollibee Laoag & Bacarra road
Food stalls along SN main road
City Cup Café
Other Food chains in Laoag, San Nicolas, Batac, etc.
Competitions and Buying Patterns
• Location is a big factor for the success of the business venture.
• Chowking is following a SRP identified by its company. However the product offers are reasonably priced so they are affordable to consumers.
• Chowking ensures customers satisfaction with the food that it serves.
• When you have established the reputation of your store, people will patronize you.
• Promote your store. The best promotion that people will consider will always be discounts and freebies.
The following table and chart shows the sales revenue for each month and projected sales for the next years. The sales revenue will increase in coming years due to the increased publicity of this establish facility in the Ilocos Norte particularly in San Nicolas, Robinsons Mall. The business revenues are seasonal with highest revenue during peak seasons and holidays. The reduced revenue can be experienced during lean months and summer. The sales price also includes all excise taxes charged on food and beverages.
Product / Service Description
At Chowking Robinsons the following products are offered:
As a franchisee, Chowking will shoulder the provision of the machines and equipment needed in the operation of the store.
Machines / Equipment Needed
Presumptions of facilities includes;
COMFORT ROOM EQUIPMENTS
FURNITURE AND FIXTURES
Chowking will rent a 300 square meter space at the ground floor of Robinson Extension. Chowking will hold a leasing agreement with Robinsons Ilocos regarding the rent of a particular space visible and accessible to customers stepping foot on the said mall.
Buildings and Facilities Needed
As a franchisee, Chowking will depend on the supply that will be given by the company.
Raw Materials and Supplies
Chowking takes responsibility in waste management very extremely, in complete provision and compliance to the Ecological Solid Waste Management Act as adopted by the municipality of San Nicolas. Chowking has totally eliminated the use of Styrofoam packaging and will use washable malwares for dine-in services, and paper packaging for take-out purchases. The 3R’s- Reduce, reuse and Recycle will be observed in the store. The company has joined the national campaign raising awareness of the disadvantages of waste mismanagement.
The Manager of Chowking leads all efforts in achieving the duty of delighting customers. He does this chiefly by handling the restaurant’s day-to-day management so that the restaurant attains and reliably upholds great levels of business performance of the restaurant, as well as maintaining high standards of food, service, and health and safety.
Management can indicate the tone for the entire restaurant. It’s an advantage of having the right leader to be direct a great team. Long-term business success depends, above all, on the quality of the team providing the leadership, direction, and vision.
Type of Business Ownership
Chowking San Nicolas was franchised by a group of three individuals who operates for the common goal of making profit. These individuals contribute labor and capital to get the business started and each partner has total and unlimited personal liability of the debts incurred by the partnership. The following are the partners who franchised the said business:
1. Mia Mei G. Hernandez
2. Janine Pearl Gacula
3. Jhonalyn Mae Labis
Manpower Needed – Job Description and Specification
1. GENERAL MANAGER
2. ASSISTANT MANAGER
4. HEAD CHEF
5. ASSISTANT CHEF
9. SECURITY GUARD
The financial plan depends on important assumptions, thus the following:
• We assume a slow-growth economy, without major recession.
• We assume that there are no unforeseen changes in technology to make equipment immediately obsolete.
• We assume access to equity capital and financing sufficient to maintain our financial plan as shown in the tables.
• We assume that tourism continues to foster in the province that will make our sales forecast possible.
• We assume that minimum wage will not abruptly increase which is a major concern of the business due to the number of the employees hired by the business.
Initial Working Capital Requirements
In their website, Chowking explains that it costs only 9-12 million to get a franchise of their store and the entire job is left to them- form the construction of the restaurant to the training of workers up to the provision of all facilities and raw materials for food production.
Alternative Sources of Financing
The financing and the funding of the business comes from the joint contributions of the partners. With the right business idea, the partners planned to put up Chowking and throw in their land, labor, capital and entrepreneurship skills for the establishment of the business. This is the easiest way to finance the said business considering that the business itself is offering a wide range of products and services.
Economic Objectives of the Project
Chowking will not only be established for profitability, but it also comes with the following economic objectives:
• To provide employment for college graduate who are seeking employment, and to students who wants to work part time to finance their studies.
• To validate the town’s identity as a municipality geared towards modernization.
• To serve as a training ground for business or work beginners who want to experience different roles such as managerial, or supervisory.
• To participate in the municipalities various activities by being co-sponsors of organized events.
Social Benefits of the Project
Socially, the municipality of San Nicolas will be benefited in the establishment of a Chowking store in the area. The town also houses the Chinese Consulate in the Philippines. Having Chowking at hand will create somewhat a feeling of belongingness to the Chinese people who come and do business and enjoy life here in the province of Ilocos Norte. There will be an exchanging and embracing of each other’s culture through the Chowking restaurant.
Impacts of the Project to the Community
Chowking will be housed in the Robinson’s Mall, the costumers can rest from their shopping spree with the comfort and class offered by Chowking.
People will have more chances of employment as Chowking will open doors for them through the selection and hiring of working personnel’s.
During Sundays or holidays where restaurants are crowded, Chowking will be added to the list along with other restaurants so people will have more and better options on where to spend their food bonding.
The partners have different assumptions on the business. The total project cost is 9,540,652.00. The initial working capital requirement is 9,540,652.00. The financing and the funding of the business comes from the joint contributions of the partners. The business will incur a loss in the 1st and 2nd year of operations since the initial capital is high. But on the 3rd year of the operation of the business, the return on investment had been acquired and profitability started to take place.