Feasibility Study on Establishment of Stop & Go Tea Milk Tea Shop in#3-B Quirino Hi-Way, Brgy. Tungko, CSJDM, Bulacan
Keywords:ad-hoc, cost of sales, establishment, feasibility study, general partnership, market, milk tea, revenue
This research focused on the proposed establishment of a food truck business named Stop & Go Tea, which will be located in#3-B Quirino Hi-Way, Brgy. Tungko, City of San Jose Del Monte, Bulacan. The proposed business will offer a unique taste of milk tea that is suitable for the budget. The researchers planned to build a strong and mid-competitive climate in the area. Stop & Go Tea aims to provide products and services with value for money. The researchers innovated the milk tea product from nature to a fancy one. Stop & Go Tea focuses on quality, affordability, and customer satisfaction. Stop & Go Tea adds a Filipino taste to the flavors, thereby making the product unique because it is blended with flavored ice and mixed fruits, demonstrating a difference from other milk teas in the market. Hence, the researchers decided to use the research tools such as questionnaires, interviews, and observations on the behavior of the market segments to ensure the feasibility and viability of the study. The questionnaires were provided to 100 respondents. The participants were collected based on specific criteria where a particular type of elements was implemented. The respondents attempted to create a diverse sample as possible to ensure that there is an equal number of sampling representations. Most of the questionnaires were already prepared for respondents’ convenience in answering “seldom.”Hence, the proponents asked ad-hoc questions. The researchers analyzed the results via thematic analysis. Due to the limited number of respondents, diverse design,and answer sets of the questions, as well as the qualitative research approach of the study, there was a balance of respondents between genders, while the ages ranged from 17 years old and above. The respondents were mostly students, employees, residents, and commuters. Based on the survey, the majority of the respondents know what a food truck is. The respondents studied the market viability of the proposed business. The only lapse that should be taken into consideration was brand awareness. The products and services are unique compared with the competitors. In a technical view, the market segments are well-studied. An increase of 10% revenue will be achieved annually, while the cost of sales will also be achieved at the same rate. There would be an increase of 2% per year on related expenses, but this can be controlled well by proper management. Overall, the establishment of Stop & Go Tea Milk Tea Shop will need to be pursued by its proponents.