Feasibility Study on Establishment of Castro One Gift Shop Gallery
Keywords:feasibility study, establishment, CASTRO One Gift Shop Gallery
CASTRO One Gift Shop Gallery is a new venture in the industry of customized watch straps. Most people nowadays are hooked on the latest gadgets. The proposed business is an innovative strategy for watch strips focusing on customer satisfaction, thereby providing the latest trendy design to satisfy the customer with elegant but affordable products and giving the best quality of our services that will satisfy the customers. The main importance of the business is not only to have high profit but valuing the customers and satisfying them with the products and services being offered. The researchers applied the survey method, and questionnaires were given to the sample population to determine the level of acceptability around the vicinity where the business was established. The researchers also applied the financial statement. The researchers used a survey questionnaire to know the perception and thoughts of the prospect respondents toward the business. Results of the survey showed a positive outcome for the business because most of the respondents showed interest regarding the products and services offered by CASTRO One Gift Shop Gallery in terms of product/service, price, place, and promotion. The financial statement showed that the return on investment will be achieved in the 5th year of operation. This business is not only for strap customization but will also offer other products such as fancy jewelry(e.g., stainless, rose gold, and silver). However, continuous innovation is still highly recommended because competing in this industry also has high risks. The researchers believe that developing pricing strategy and promotional tools to be adopted by low-middle income customers to have a wide range of market coverage.