Feasibility Study on Establishment of Japanese Oishi Ramen House in Dumalay St., Novaliches, Quezon City
Keywords:feasibility study, establishment, Japanese food, ramen
Japanese food is one of the most popular cuisines in the world due to its beautiful presentation and the use of fresh, high-quality seasonal ingredients. Japan’s cuisine is delicious and loved by people worldwide. Japanese Oishi Ramen House offers authentic Japanese foods, especially ramen, with high quality and at affordable prices located at Dumalay St., Novaliches, Quezon City with a starting capital of Php 4 million. The concept of the business was created based on one of the people’s lines of interest in Japanese cuisines, and both partners agreed after a thorough discussion. The research method used was descriptive. The researchers surveyed50 respondents residing along Dumalay St., Novaliches, Quezon City. The research determined the SWOT of the business and its viability and identified the factors and potential problems that can occur in developing the business idea. The researchers also effectively analyzed and evaluated the financial performance through the financial statement. The researchers concluded that the products and services offered by Japanese Oishi Ramen House can compete with existing restaurants in Novaliches, Quezon City. Researchers surveyed 50 respondents in the location, and 70% of the respondents were excited to taste the version of Japanese Oishi Ramen. The price acceptance of the products was 80%. The place acceptance that Japanese Oishi Ramen House will stand out in the location despite having many competitors was 75%. The best promotional activities that can be used by Japanese Oishi Ramen House to promote was through social media (60%). The researchers recommended the management of Japanese Oishi Ramen House to continuously innovate their product/services because the business cannot only encounter Filipinos in the restaurant but also Japanese citizens who are more knowledgeable about the foods offered by Japanese Oishi Ramen House. The researchers recommend that the management team should use the creativity, resources, and full range of marketing practices to promote and support healthy meals for customers and develop a strategic plan to operate the business efficiently.