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A Project Feasibility Study on Food Business
Transcript of A Project Feasibility Study on Food Business
"Filipino taste tacos"
Name is one of the most essential things to be prepared in starting a business. Ideally, the first thing that attracts the customer is the name of the business. To be able to penetrate in an industry it has to have an own identity that is unique, simple and easy to remember. The proponents decided to name their business NoyPita. NoyPi comes from the word, PINOY that determined FILIPINO and Pita which means, flat bread, which is our main ingredient in producing our product. Filipino food may not be as famous as of its Thai and Vietnamese neighbors, but with more than 7,107 islands and a colorful history, this archipelago has some delicious dishes of its own.
Logo of the business
NoyPita symbolizes food service that is fresh, premium, made-to-order Filipino dishes stuffed in pita bread, with its unique combination of healthy ingredients and flavorful dishes. Think of us as a reality checkpoint for healthier eating and active lifestyles. The blue color in the flag symbolizes the cleanliness and safe eating place, food serving and surroundings. The red heart is for the freshness of the ingredients we used in our products and its healthy benefits that it gives to our customer. The little Filipino boy is the service we provide to our customer that gives what they want and keeps them happy and satisfied at all time. The color red in the logo symbolizes Luck.Red, corresponding with fire, symbolizes good fortune and joy. Red is energizing. It excites the emotions and motivates us to take action. It is really fitted in our business to help our customers be motivated in their work as they visit our shop. The Yellow color symbolizes to the people in our business, yellow is a warm and happy color which creates a sense of cheerfulness and playfulness, it is optimistic, uplifting and illuminating, brightening people's spirits.
Location of the business
The proponents choose to build their business in 547 Shaw Boulevard Barangay Wack-Wack, Mandaluyong City. The chosen project site of NoyPita is suitable for our business because it is surrounded by different establishment like school (ACLC), Call Center, Banks, Condominium (Governor’s Place) it has and it is key to successful operations and overall growth of the business.
Specific Objectives of the Project
To determine the marketability of the products in our chosen location
To establish the sampling method to be used
To interpret the results of the survey
To price the product at a level that is acceptable to buyers and will yield a profit
To design appropriate price strategy for our products
To illustrate the production flow of our business.
To discuss the operational flow of the project.
To clearly illustrate and define the ingredients of the products.
To completely shows the scheduling and production cost.
To distinguish the visibility of our business in our location.
To show our strategies in marketing our products.
To determine the importance of having good vision, purpose and mission in our business.
To determine the characteristics and functions of our management.
To determine the number of employees that we need to operate our business as well as their qualifications.
To know the duties and responsibilities of the employees as well as the compensation needed for the operation of the business and also the company policies and regulations.
To determine the capital requirements of our business like cost of current and fixed assets, promotional expenses and long-range planning so that profitability is maintained.
To know and identify the capital required of our business with regards to changing market trends which can be faced easily through enough funds.
To be able to prove that the proposed business will provide benefits to people as well as to the government.
To be able to know if our business can give enough contributions to our country.
The Market Study General Objective
The purpose of this chapter is to provide quantitative information that will reflect the status of the market in the area of business. It aims to create a research on the demand of the product and supply that can achieve the target market. Mainly, market share of the business is given importance on this chapter because it will dictate if the business is feasible for the market. Secondly, its purpose is to promote a marketing program that will be useful in making the business successful. The information given in this chapter is significant for this feasibility study and the purpose of this study must be attained.
GENERAL MARKET DESCRIPTION/ TARGET MARKET
NoyPita is renting a 10 sq. m. commercial space
at #547 Shaw Boulevard Barangay WackWack, Mandaluyong City.
NoyPita is located at #547 Shaw Boulevard, Barangay WackWack, Mandaluyong City. It would occupy a commercial area of 10 m2
Our store would operate 12 hours a day. It would open from 10:00 in the morning and would close at 10:00 in the evening. The operation of the business would be 6 days a week from Monday to Saturday.
Based on data gathered for population growth ratein the chosen location performed well between 2009-2014, growing at an annual rate of 1.29%. NoyPita tends to be successful business someday through its competitive edge and through the success of this feasibility study.
The proposed business has only single store and it’s located at Shaw Boulevard, Mandaluyong City. It includes take-out area for order.
NoyPita guarantee the quality of our products in terms of best service. The equipment and materials will always be clean and in order so that it could not result in disaster afterwards. The products would be properly in order to have space
to move and easy to get the products. Taking the order of the products would be always on time. The proponents serve our customers with very affordable and high quality products.
NoyPita will sell “Filipino Taste Tacos” a newly-styled taco that filled with Filipino dishes like Adobo, Sisig, and Giniling with good quality, sold at an affordable price. The proponents sell this product that will surely meet the needs and demands of our target consumers. Our store is mainly established for the passers-by, students and the workers along Shaw Boulevard.
The 394 respondents will represent 26, 791, average population of Barangay Highway Hills and Barangay WackWack, Shaw Boulevard, Mandaluyong City as of the first quarter of the year 2013, based on the data gathered from Mandaluyong City Hall.
The Demand Situation
Determination of our demand is the priority of our market activity. Demand of our product will depend on the size of the target market, number of consumers with the purchasing power and buying habits.
Annual Demand= (Population) (Frequency of Agreement) (Market Acceptability)
To get the Annual Demand, just multiply the Population to the Frequency of Agreement then multiply it again to the Market Acceptability.
A= Yn –Yc Where: Yc= Demand in 2008
N-1 Yn= Demand in 2012
N= Number of years
The Supply Situation
Historical Data of Competitors
Historical values for the past five years
Projected Supply of Competitors
Projected values for next five years
Projected Supply for NoyPita
Demand Supply Situation
THE APPROPRIATE MARKETING PROGRAM OR STRATEGY