Feasibility Study on Establishment of Restore and Design Furniture in Regalado Ave., North Fairview, Quezon City
Keywords:feasibility study, establishment, Restore and Design furniture
Furniture is a signifier of taste and an indicator of social and physical mobility. However, with enormous demand, many customers want a cost-effective store that would help them save money while making their home space interior relatively exquisite. This paper sought to fill in the gap of the unsatisfactory customer services by offering services such as item repair, upholstery, customization, and trade-in, as well as products that are stylish modern but functional home furniture. Restore and Design Furniture aims to assess every customer’s needs and provide excellent customer service to meet the ends of every buyer. To comprehend the viability of the study, the researchers used a descriptive method and utilized a questionnaire according to product, place, price, and promotion to determine the elastic perception of 100 respondents coming from 3 different subgroups residing within the vicinity of Regalado Highway, Quezon City. The proponents also conducted an extensive financial analysis of a five-year best-case scenario to determine the profitability of the business. Based on the gathered data, in terms of products and services offering, the researchers found that a majority of the respondents are willing to avail the products and services offered by Restore and Design Furniture by acknowledging the idea of repair and upholstery for their damaged furniture and even agreed about a trade-in. Regarding technical viability, the data showed a high tendency of success in putting up a business in Regalado Ave. Highway, North Fairview, Quezon City. Regarding the best-case scenario of the return on investment, the proposed business is expected to earn approximately 1.17%, 22.55%, 24.31%, 26.61%, and 27.42% of its capital in the first, second, third, fourth, and fifth year of operation, respectively. The proposed business has predominant viability in terms of the target market, management, technical aspect, and financial aspect. However, the researchers suggested that Restore and Design Furniture should continue prioritizing the quality of products and services by making durable and functional articles. The development of engaging promotional activities for the business’ ceaseless sales opportunities should be the top priority. Lastly, the continuation of the financial success of the entity will be achieved through justified allocation to create a stable and solvent organization in the long run.