A Feasibility Study on the Establishment of United Venue in Barangay Gulod, Quirino Highway, Novaliches, Quezon City

Abstract

Occasion and Events are part of human life that cannot be circumvented since it touches all the attributes of people social existence. It is a human nature that nurtures emotions. Due to the increasing trend, people instinctively driven to honor the significant moment in their life and this change the way Filipino celebrate a certain events. For this reason, United Venue is a business that provides venue and party equipment that is rented for the purpose of hosting event. A business that aims to take part in the process of creating irreplaceable memories for the client.The research method used is qualitative analysis. The research determines the viability of the business and identifies the factors and potential problems that could occur in developing the business idea. By the used of mix method, the proponents conducted an interview and survey on 100 respondents composed of students, professional and residents along Novaliches Quezon City. It also utilize financial statement in identifying the feasibility of the business. The result of this study identifies the viability of the business proving to see a great market deal in the events venue and party rental. The number of individual and company hosting an event has been growing rapidly like a wildfire thus making a great push to the venue and party rental equipment to boom. Based on financial aspect, United Venue is indeed acceptable and profitable to the market despite the fact that the entry bar for starting the business is on high side. The business can generate enough revenue and investment isbeing returned on the early year of the business. If well positioned and manage, the business will continue to grow year over year successfully. Since the business is not considered as necessity, the researchers recommend to invest in promotion and prices of the services, level up the facilities and upgrade the rental equipment. As the capital used has been returned (ROI), expansion and branching out should be considered to provide a service to the market not only in the chosen location but also in other possible market available.