Feasibility Study on Establishment of Grandeur Service in Novaliches Proper, Quezon City
Keywords:expenses, financial plan, grandeur, housekeeping, income, service
This research proposed a business named Grandeur Service. The business is planned to be located atBuenamar Street, Barangay Novaliches Proper, Novaliches Quezon City. The business offers provide thorough overall cleaning. The researchers came up with this business idea because workers and families nowadays are busy working and doing other agendas. The target customers are housewives, husbands, parents, grandparents, and daughters/sons who are too busy to do household chores. However, similar to any other business, the researchers have competitors. Direct and indirect competitors have a huge impact on the business. For this feasibility study, the proponents used a survey questionnaire to gather information from 100 respondents. The researchers also used secondary sources, such as the Internet and books, to gain more ideas and concepts regarding the study. Initially, the authors considered focused group discussion, market observations, and ocular visits to the business sites. Based on the survey, 95% of the respondents are familiar with cleaning services, and the majority accepts housekeeping service Housekeeping services are needed when cleaning condominiums and houses. A total of97% of the respondents agreed with the business location, and 3%of the respondents disagreed. Generally, 81%of the respondents preferred on-call housekeepers because of their convenience, while 19% of the respondents preferred stay-in maid because they need someone to accompany them and provide overall housekeeping services. The researchers came up with the following financial projections. The financial plan consisted of an income statement, projected financial position, cash flow return on investment, and a statement of changes in equity. The financial plan consisted of five-year income and expenses. Grandeur Service’s capital is P1,000,000. It is forecasted to increase the service revenue by 10%annually for its continuous operation. There would be a 10%increase annually in the cost of sales. The net income of Grandeur Service is increasing yearly because of its operation. All related expenses will increase by 2% annually.