Feasibility Study on InScent Cologne in Commonwealth Avenue, Brgy. Batasan Hills, Quezon City, Metro Manila
Keywords:feasibility study, establishment, InScent Cologne
The researchers made products that can help people to prevent any kind of insect bite. This business wants to reduce the number of dengue incidents in this country. This business is a general partnership, and the starting capital is Php 3,250,000. The products give a long-lasting fragrance and are affordable but havea high-quality scent that a consumer will never forget. First, in search of a feasible strategy for descriptive research design, secondary data from books and the Internet were used. Second, the external and internal industries of the business were analyzed, and the financial statement was used to determine if the area is profitable. The business used a survey questionnaire to obtain the valid primary data of 50 respondents. SWOT analysis was used as the guide of this proposed business. The prospects of this business were employees, students, and shoppers along Commonwealth Avenue. Regarding the products of the business, out of 50 respondents, 45 people (90%) said that they will buy the cologne with insect repellent, while 5 respondents (10%) said they will not. In terms of promotion, out of 50 respondents, 90% said that they agree with the promotion of InScent Cologne, while 10% said they are not. Out of the 50 respondents, 40 people (80%) of the respondents said that they agree if the price starts at Php 51 with 50 ml, while 10 respondents (20%) said they do not agree. Out of 50 respondents, 45 people (90%) said that they feel secure with the location, while 5 respondents (10%) said do not feel secured. Therefore, InScent Cologne can have more customers because the location is convenient and safe for the customers. In terms of the financial aspect, the return of investment of the business will increase up to 10.39% in 2019, 4.59% in 2020, 0.64% in 2021, 6.41% in 2022, and 12.80% in 2023. The researchers recommended the business continuously improve what it offers and promos, provide seminars and training, maintain a good relationship, and treat every customer as a family to develop a long-term relationship.