Feasibility Study on Establishment of Siomai De' Calle in Paso De Blas, Valenzuela City
Keywords:feasibility study, establishment, Siomai de' Calle
Siomai is a popular snack for modern street-smart Filipinos and one of the favorite snacks of the people because of the affordable price. Many siomai businesses produce foods of good quality. Several franchise food carts sell siomai on the street, food court malls, and transport hubs. However, siomai businesses have challenges such as many competitors and imitation of products that confuse the people to purchase. Hence, Siomai de' Calle’s owner creates something new and creative taste with cheaper and affordable price to the market; this will surely bring a new, healthy, and creative taste of Siomai at an affordable price without losing its delicious taste. The proposed business applied the descriptive method as a research instrument and interviewed 100 respondents composed of commuters, students, and employees along VGC Paso de Blas, Valenzuela City, which are the target market of the business. The researchers used SWOT analysis to identify its internal strengths and weaknesses, as well as its external opportunities and threats. The researchers applied financial statements to the level of profitability. The result on investment (ROI) that was calculated in the first year of operation was 38.30%. For the second and fifth years of operation, the ROI was calculated by dividing the net income by the average investment of the business before establishing a business. Siomai de' Calle is highly recommended to have a research in the area around it, not only the business market itself but including to a probable number of customers in an area. The owner should also pay attention to promoting the business regularly with a unique style of advertisements online and in the area around it and having a saving account on starting up a business, thereby resulting in easy and stable financial management.