Feasibility Study on Establishment of Shanghai Temptation in Santa Catalina St., Brgy. Holy Spirit, Quezon City
Keywords:feasibility study, establishment, Shanghai, temptation
Shanghai is a more popular version of lumpiang Shanghai. The researchers came up with this study because of the popularity of shanghai. The researchers thought of a way on how they will serve a more delicious Shanghai to those who love it. Hence, the researchers came up with shanghai with a variety of flavors. Shanghai Temptation will be located at 444 Santa Catalina, St. Barangay Holy Spirit, Quezon City, and will have a startup capital of ₱1,000,000. The research method used was descriptive. The researchers surveyed 100 respondents near the proposed location to determine the viability of the business and identify the factors and potential that can occur in developing the business idea. The survey included questions about the respondents’ socioeconomic characteristics, such as age, sex, educational level, and weekly budget. The researchers also utilized financial statement in identifying the feasibility of the business. The researchers defended the business on how it progresses in the market. The results showed the power and strength of the business to grow and compete with competitors. The researchers also determined the weaknesses that can be improved and overcome. According to the results of the survey, 40% of the respondents were aged 18–25 years old. The majority of the respondents were professionals who have their families. The respondents preferred to outsource catering services for their events because of their busy schedules. A total of 57% of the respondents were female. Although 55% of the respondents were single, 45% were married and have stable jobs. The business can generate enough revenue, and the return on investment (ROI) is expected in the early year of the business. If the business will be positioned and managed well, then the business will continue to grow per year successfully. The ROI of this proposed business is expected within 5 years, with a 10% increase in sales every year. Given that the business is not considered a necessity, the proponents are confident to invest in the promotion and price of the services. The main focus of the proponents was to ensure the business’s viability in the market by having a strong marketing campaign to increase the popularity of the product. The business schedule fits the business; it runs 9 hours daily. The food product is well-prepared following the schedule of the event. Overall, considering proper budgeting and forecasting, the financial stability of the business to operate is sustainable.