Feasibility Study on Establishment of Lobat Food Haus in Paso De Blas, Valenzuela City
Keywords:dine out, feasibility study, LOBAT Food Haus
In contrast to the past, dining out is now indispensable. LOBAT Food Haus was conceptualized through the collaborative ideas of five researchers bearing a concept of a place to recharge in a highly urbanized area where most individuals are opting to dine out or purchase made-to-order food due to a fast-paced lifestyle. It offers a variety of authentic trademark Batangueño delicacies, such as lomi, and exemplifies an eco-friendly commitment through its Zero Plastic Advocacy. The business name correlates with LOW-BAT (short for low battery) and means running out of something. Consequently, a place to recharge has been conceptualized not only for customers’ stomachs but also for their phone’s battery because it offers free charging of cellphones. A descriptive research method was used to determine prospects’ insights regarding the researchers’ proposed business and other factors affiliated with it. Survey questionnaires were administered to 100 respondents residing within Paso de Blas, Valenzuela City. It entailed a demographic profile to find out the percentage distribution of respondents and questions about product, price, place, and promotion in line with the proposed business. Financial statements were also used to scrutinize the viability of the business in terms of its profitability. The foregoing analysis showed that a majority of respondents are acquainted with the flagship offering of LOBAT Food Haus, that is, lomi. Most of the respondents are also willing to spend any amount of money, which correlates with what the business has to offer. Discount coupons garnered a favorable response over other promotional tools, with 27% returns on invested capital in the first year of operation and gradually increases in each succeeding year despite the prevailing circumstances. The researchers presumed that the inception of LOBAT Food Haus can be attained or capable of being carried out by enacting the subsequent recommendations addressed by the researchers including, but not limited, to ascertaining that product being served will not be compromised, expansion of business through a franchisor-franchisee agreement, and minimizing operating expenses if necessary to avoid the disbursement of invested capital in an untimely manner. Consequently, a place to recharge is ready to fulfill countless tummies.