Feasibility Study on Establishment of Your Road Crave in Hilltop Putol na Daan, Lagro,Quezon City
Keywords:feasibility study, churros general partnership, establishment, market
This research focused on establishing a proposed business named“Your Road Crave” in Hilltop Putol na Daan, Lagro, Quezon City. The researchers created a new taste of churros by innovating the product and creating a unique flavor and dipping sauces to enable the business to create an outstanding product, strong brand, and build a customer network. The researchers also used other data from the Internet, books, and other references to help them gain additional ideas in doing the research and improving the product. The participants were carefully targeted and selected through stratified sampling techniques. The results were analyzed manually. The researchers observed the viability and accessibility of the location. Conceptualization initially commenced during the brainstorming phase and focus group discussions. According to respondents, the business location of Your Road Crave is very accessible to prospective clients.A total of 60% of the respondents were male, and 40% of the respondents were female. They are willing to spend P50–P150 pesos for their snack. The majority of the respondents want to try Oreo and red velvet churros. The researchers studied the market viability of the proposed business. The only lapse that was considered was brand awareness. The product or service is unique compared with the competitors. From a technical view, the market segments are well-studied. Given that the proposed business will be a general partnership, the owners will capitalize P1,000,000. At present, many business lines are existing, especially in the food industry. Therefore, innovating new products may be hard. Thus, the researchers studied the market or industry trends. The researchers believed that innovation will not only improve the chances of the business to survive but also help it to thrive and increase profit. Based on the study, the product that the researchers introduced is new to the market and has a possibility of surviving in the market. After in-depth research on the significant aspects such as powers involved in preparing the product, marketing, financial, management, and socioeconomic factors of this study, the researchers highly recommended that “Your Road Crave” shall be pursued and established.