Feasibility Study on Establishment of Kteav Bar in Mindanao Avenue, Tandang Sora, Quezon City

Abstract

KTeaV Bar aims to provide entertainment by singing in karaoke with a nature theme. The owner wants the give the business a twist. Most people think that KTV bars are always selling liquor; hence, tea is served in KTeaV Bar instead of liquor. The target market is millennials, students, and workers. The business will be located in Mindanao Avenue, Tandang Sora, Quezon City. The business structure is classified as a general partnership where the capital, liabilities, assets, and skills are equally divided among partners. The method used in this study to gather information was a survey questionnaire guided by 4P’s (product, price, place, and promotion) with 50 participants, including students and employees, to check how acceptable is drinking tea while singing karaoke to the target market and financial statement to make an assumption, fair presentation, and reliable information in terms of the financial aspect. Results of the study showed that 78% of respondents were comfortable with the idea of drinking tea while singing in a karaoke. Through this business, people will enjoy reliving their stress, having a pastime, and making an unforgettable experience together with their loved ones at the same time. KTeaV Bar owner wants to convince people that tea can replace alcohol when celebrating any occasion. In terms of the financial statement, the business is profitable to the market, and the return on investment is 6.36% for the first year of operation and will continue the growth over the years. KTeaV Bar aims to help people to make relax for a stressful day and give quality time for the customers. To fully satisfy the customers, the researchers recommended upgrading the facilities, services, and products offered to continuously increase sales. The researchers strongly believe that the business should have another branch in another location to increase profit.