Feasibility Study on Establishment of R3 Milktea in Batoda Terminal, Batasan Hills, Quezon City
Milk tea is a beverage that originated in Taiwan in the early 1980s in a small tea stand. When adding flavor, the tea and flavoring need to be shaken for a good all-around taste. This action forms bubbles, which became known as “bubble tea.” Today’s milk tea brings a unique flavor to the consumer. Many milk tea shops offer different flavors from one another. Hence, the proponents conceptualized R3MILKTEA, which is a business that aims to offer a flavorful milk tea while building a sustainable environment. Regular milk tea offers are being served with plastic cups. The proposed business aims to offer collapsible cups that are easy to use and handy. The researchers studied the newest trend for two generations to offer a unique service that fulfills the needs and wants of the target market and promotes drinking healthy beverages. The research method design utilized in this study was quantitative analysis. The participants of the study were 100 respondents in the area of 1126 Batasan Hills, Batoda Terminal, Quezon City. They were surveyed on August 6, 2019 to determine the accessibility of the place and the product in the area. The results showed that R3MILKTEA is feasible in the market because the daily routine of most of the people within the area includes transportation through terminals. In terms of management viability, the owners know about how to run the entire business. In terms of technical viability, R3MILKTEA will use social media as a tool to promote and advertise the business. The researchers recommended improve the business’s marketing viability; R3MILKTEA should continue to reach the demand and expectation of the customers to know the importance of the local brand of coffee beans of our local farmers. In terms of management viability, the management should continue to operate and handle the business until it succeeds and become a well-known business in the market of local branded raw material on R3MILKTEA business in the Philippines. In terms of technical viability, R3MILKTEA may acquire more customers by using social media and other sources of promotional strategies to gain more customers in the future. In terms of financial viability, R3MILKTEA should offer products at an affordable price.