Feasibility Study of Food Quest (Other (Not Listed) Sample)

-38100-90487500 A B M : F O O D E Z Feasibility Study Executive Summary The market demand has never been greater for food that is healthy, economically priced, and great tasting. The primary goal of the business is to give the consumer with a nutritious, high-quality food at a reasonable price. Hence, they may turn to our business which is Foodez as a means of satiating their hunger. In addition, the business offers refreshments to quench people's thirst. Foodez is a new micro business that is located in Purok 10 Malipayon in Candaguit, Sibonga, Cebu. The menu will include a variety of meals, snacks and liquid refreshments that are freshly made using locally sourced foods and drinks. It will be family-friendly, trendy that will attract the residents of the community. As the items will be varied according to schedule, the products supplied in this business are competitive and diversified in character. The target market of our business are the local people of barangay Candaguit, basketball players as well as the passerby since our food stall is located near the national road. The students of Grade 12- ABM BENZ, notably the group allocated to Barangay Candaguit, are the principal shareholders in this firm. These students will be in charge of all aspects of the firm, including product development, marketing, and sales. Their main goal is to recoup their initial investment and increase profits while being cost-effective. They can also obtain skills with this simulation company that they can apply to their own firms in the near future. TABLE OF CONTENTS Executive Summary 2 1.Introduction 4 2.Product or Service 6 3.Market Environment 7 4.Competition and Industry 8 5.Business Model 9 6.Marketing and Sales Strategy 10 7.Production Requirement 11 8. Management and Personnel Requirements 13 9.Intellectual Property 14 10.Regulations Issues and Critical Risk Factors 15 FINANCIAL PROJECTIONS 16 FINDINGS, RECOMENDATIONS AND CONCLUSION 17 1.INTRODUCTION Proposed Name of the Business Among the proposed name given by the members, the selected name for the business is ABM: FOODEZ. The following names are the proposed name pf the business: * SNACKTAYM * FOODQUEST * SNACKZILLA * ISNACK Address of the Business The business is located at Purok 10 Malipayon of Baranggay Candaguit. Name of the Owners: * Cariquitan, Hanna Marie A. * Cudira, Darwin C. * Guardiario, Kyla D. * Casanes, Melanie * Cervantes, Ken Bryan F. * Boltron, Jhijie * Dakay, Zinnia Sheer * Bulak, Robert Louise * Jimenez, Angel Grace Description of the Business ABM: FOODEZ offers lunch meal, snacks and liquid refreshments for the people in Candaguit. A family-friendly, trendy that will attract the residents of the said community. The major purpose is to provide high quality nutritious food consumers at an affordable price. Location of the Business The stall is located beside GrandFreeMart nearby Candaguit Baranggay Hall. Our target market is the local inhabitants of Barangay Candaguit basketball players as well as passers-by, since our food stall is located near the national road. Funding Requirements and Source of the Funds The start-up fund requirement is only for the necessary fees and materials. The owners' equal personal portion of the business's funds are gathered as a source of funds to be used as capital for the business. 2. PRODUCT OR SERVICE This is an ideal time for this type of business, and it will get off to a good start. Because there are so many sellers in the market, it tends to be competitive. As a result, the possibility of picking good materials at a reasonable price, as well as product variation, improves dramatically. Opportunity: In the community, the owners observed that there are only few who sell meals during lunch time, and during afternoon we also observed lots of folks that go outside to play basketball for fun. So, we see it as a great market opportunity to sell lunch meals as well as snacks and liquid refreshments. Product Overview: ABM: FOODEZ offers variety of nutritious and high-quality foods and drinks for the people in Barangay Candaguit at an affordable price. * Key Participants: This business is managed by the owners, primarily students from Sibonga National High School's 12-ABM BENZ, notably the Barangay Candaguit Group. A prominent provider is the Prince Hypermart and local public market. If things needed are not available at Prince Hypermart and local public market will be sourced and purchased at Gaisano Carcar and other nearby community markets. Pricing: The prices of the items will be determined by the cost of each material utilized. Furthermore, the owners will guarantee that the things sold are both inexpensive and a good quality. 3. Market Environment The current pandemic issue resulted a rapid shift in the economy, the business industry's typical profits have decreased. At such times, people also prefer to spend less or cease their spending to save money. Therefore, people look for goods and services at lower prices. So, we in a group come up to introduce new products with lower prices or sell our products at discounted prices so we can still make sales when there is an economic slowdown. Food business is a type of business that is easy to operate that's why there are lots of competitors in this kind of field. However, through our learning in marketing, it helps us as a marketer to learn about the business strategies and plans of our competitors. Having this knowledge helps us to understand the policy of our competitors and plan our business strategies accordingly. Through this learning we give the consumer with a healthy, good food at a affordable price. So, they may turn to our business which is Foodez as a means of satiating their hunger. In addition, the business offers refreshments to quench their thirst. STRENGTHS WEAKNESSES OPPORTUNITIES THREATS Affordability Limited to local distribution Innovative Consumers are price conscious New and Refreshing Limited Finances High Exposure Location Competitors could leverage brands strength Good Location Less Competitors Rising cost of raw ingredients Skilled Team High quality of raw materials 4.Competition and Industry Even though we got less competitors on this chosen food business, yet these few numbers of competitors are still considered as a threat to our business. The owners come up to make one-of-a-kind, affordable products that will compete with what the market presently has to offer. This will be accomplished by and purchasing from local marketplaces rather than obtaining materials from other markets that is highly costly. As business' target market includes passers-by and basketball players, the stall will be set up near the national road that will offer food and drinks that will be served limited to a local barangay scale, and growth to other locations is not in the purview of this venture. The students of Sibonga National High School's 12-ABM BENZ, specifically the Barangay Candaguit Group, will be the principal proprietors and employees in charge of this firm. Employee positions will not be static because each member will swap tasks dependent on scheduling. In this Student-Involved Business will operate on a small Barangay scale and will be available only to residents of Barangay Candaguit. 5. Business Model The table below shows the business model of the concept business. ABM: FOODEZ Key Partners Key Activities Key Resources Value Proposition Relationships Students of Sibonga NHS Planning Cooking tools and equipment Personal Teachers Marketing Raw Ingredients Acquaintance Candaguit Barangay Officials Producing of products Contributors Schoolmate Residents of barangay Candaguit Selling Recording of transaction Channels Customer Segment Cost Structure Revenue Streams House to house selling Viewers Decorations House to house sale Stall Sales People across the household Raw Ingredients Stall Sales Passerby Equipment Basketball players Paper Bag Butane and oil 6. Marketing and Sales Strategy Marketing in ever-changing role that underpins every organization we know today. Small business frequently struggles with limited finances and resources that limits their brand exposure. But, with so many advertising choices available nowadays, there can be no holding back for our business stand out from the competition in market as we stay on top of the trends and properly spend our money in providing foods and refreshment on our barangay residents. The marketing strategy in selling our products in our business will be done through traditional advertising, word to mouth and social media. Our mini stall that will be located near national road will decorated with eye-catching designs including our own business name and tagline. The food packaging will be environmental and cost friendly as we will try to lessen plastic bags in containing foods. In this business, the method of sales will be based on the agreed-upon products and pricing for each products offered. The start-up fund requirement is only for the...