A Feasibility Study on the Establishment of Love Express in Holiday Island Bagong Silang, Caloocan City

Abstract

This research is focused on the proposed establishment of Love Express in Holiday Island, Phase 3, Bagong Silang, Caloocan City. This business will provide delivery of letters with a sing and dance performance of the courier. Love Express aims to provide a memorable experience of delivery to the sender and also to re-accept the old way of sending letter with a gift. This way the prospect will value the effort of the letter sender. The researchers utilized a quantitative survey to 100 respondents within and outside the proposed location. Respondents were students, young professionals and teachers who were selected randomly. In the survey form, the researchers created 8 questions that focused on the acceptability of the proposed business’ 4P’s –product, price, promotion and place. The researchers distributed the survey forms personally and they were given enough time to answer them. The results were afterwards tallied, evaluated and interpreted. The results revealed that in terms of the proposed product offering,72% of the respondents chose the bear and flowers for gift. In terms of service, 72% of the respondents agreed that the best way to express the feelings is through delivery letter for them to feel that they are special. In terms of pricing, 44% of the respondents chose the price 1000-1500 that they can afford in surprising their loved ones. In terms of visiting the proposed place where the business will be located, 63% responded that they always visit Holiday Island. In terms of promotions, 61% of the respondents chose discounts. The projection on the 5-year financial statements also revealed Return on Invesment (ROI) after 5 years. The proposed Love Express has a potential in competing in the market because of the uniqueness of the service offered and the product packages. All the information collected by the researchers is in favor of establishing the said business; therefore, Love Express should be pursued and established.