Feasibility Study on Establishment of Taku Veggie at Tungko, San Jose Del Monte, Bulacan City
Keywords:feasibility study, establishment, TAKU veggie
Convenience is essential for people nowadays due to the fast-paced lifestyle. Most people prefer to eat outside, consume on-the-go snacks, and are always looking for new flavors to satisfy their needs and wants. Taku Veggie will be strategically located at Brgy. Tungkong Mangga, San Jose del Monte, Bulacan, with a startup capital of ₱500,000.00. The research method used was descriptive analysis. The research determined the viability of the business and identified the factors and potential problems that can occur in developing the new business concept. The proposed business strengths included offering unique flavors, affordable prices, strategic location, and high demand in the market. The weaknesses of the proposed business included being a new entrant in the market, unexpected inflation, many competitors, and considerable products offered in the market. Opportunities include customer’s curiosity about new flavors, looking for another alternative raw material, product innovation, and expansion. The threats in this business include competitor’s established product offering, lack of supply of raw materials, and the business depending on customer preference and loyalty. High market viability was assessed using a financial statement to determine the return of investment (RO) of the business. The result of this study identified the market viability of the business idea in terms of product, price place, and promotion. This type of business is already existing in the market. The affordability of the product offerings, accessibility of business location, and the promotions used were considered by target markets. The ROI of the business is expected to be within one and half yearswitha10% increase in sales every year. This type of business is relevant and provides convenience to target markets. The researchers recommended that the business owner should take time in searching for a strategic location before establishing a business in a certain area. The business owner should also have good camaraderie with the employees to maintain good working environment. In terms of the technical aspect, the researchers recommended focusing on promoting products by using social media for the business to be recognized. In terms of the financial aspect, there must be enough amount of capital to start a business.