Professional Documents
Culture Documents
Reminisce Condotel
Business plan
Submitted by:
Christopher D. Madronal
Cherry Ann C. Afalla
12 - St. John the Apostle student
Submitted to:
Mr. Alvin Jay P. Alquesor
Entrepreneurship Adviser
A.Y. 2018-2019
TABLE OF CONTENTS
I. Title Page---------------------------------------------------------------------------------------------1
III. Introduction------------------------------------------------------------------------------------------3
10
VI. The Target Customers and the Main Value Proposition to the customer--------------------
12
VII. The Market, Market Justification based on the Industry Dynamics and the Macro
Environmental factors affecting the Opportunities and Threats in the Market, the size,
14
22
IX. The Enterprise Strategy and Enterprise Delivery Systems: Business Competitiveness----
24
28
32
XII. The Capital Structure and Financial offering: Returns and the Benefits to Investors,
34
XIII. Bibliography-----------------------------------------------------------------------------------------37
CHAPTER I
INTRODUCTION
ambiance, people can invest their money in units and let it earn. Upon purchasing a unit, it
includes free cleaning and maintenance anytime needed by the owner. The Reminisce Condotel
also offer up to 5 star rated rooms and units. The condotel advertise “home away from home”.
Diagram 1.1
Customers
Business profit
and Customer's
benefit
advertising were in customer can bargain on what set up they want and upon their decision and
the business administration’s decision it will result to win situation between the business and
customer. Customers are highly accommodated by the professionally trained staff in the lobby.
To make the business possible investors from any part of the world are open to invest and
we assure the security of their investment and the return will be high as much as possible as we
promise. The reminisce condotel is different from others because we value the bargaining power
of customers by simply asking them what they want and agreeing to it in a profitable way. We
assure the control of everything from the very start up to the long run of the business.
Vision
experience to all our customers in a way they feel secure and feel the vintage ambiance of
the Condotel.
Mission
our customers that we provide a quality unit and rooms in affordable price.
our investors that we strive to give back high return in their investments.
training.
The following objectives with its key result areas are in the diagram 1.2 below and this
will be achieved by the vision and mission of the business Reminisce Condotel.
The diagram 1.3 below show the key result areas and performance indicator and it will be
the assigned project and goal for the next 10 years of running the business.
The Reminisce Condotel offers a program were in unit owners can make their unit
profitable by agreeing to the terms and condition of the management that other customers can
rent the unit it as a hotel room in a short time, the cleaning and maintenance is free but it depends
on the square foot coverage of the free service. Unit owners can assure the security of their
belongings by putting individual secret security locker in every room that the management and
accommodating desk for the owners to bargain and new customers to bargain, present at the
lobby. Vintage collection will be the decorations in the lobby but the rooms can be so modern
that when you went inside the unit you will feel the futuristic technologies present and
and that depends upon the terms and conditions signed by the customer from the management of
the condotel.
A wide range of choices are present in every room but modification of the rooms such as
painting the walls has to pass the management’s regulation and justification. We assure the terms
and conditions clear to the customers before signing and again bargain in those terms and
conditions are allowed to gain win and win situation to both parties.
CHAPTER II
EXECUTIVE SUMMARY
The reminisce condotel is a condominium with hotel units and facilities. The business is
owned by the business partner Christopher Madronal who is a business entrepreneur and Cherry
Ann Afalla who is a medical doctor. It is the first establishment of the said business and it is built
The condotel has its vintage and antique ambiance to blend with its business brand. The
business is committed to its vision to give justice to what the customers invest on the business,
its mission to provide customers quality unit and rooms in affordable price, its objective to value
hospitability.
The target customers of the business are local and international investors, balikbayans,
locals who wants to own a unit in a prime location, parents with children studying near the
condotel. The condotel offers wide range of choices in its hotel the commercial, superior, deluxe
and presidential rooms. Also in its residential condominium there are commercial units, deluxe
and presidential units with dining area, receiving area, kitchen, comfort rooms. The business also
offers its customer the right to bargain and a home away from home establishment where
The business has made partnerships to big companies like Microsoft, Samsung, LG for
the software providers and Sm investments, Lucio Tan, Ayala and others to supply the hardware,
financing needs of the business to be established and for its long run operation. They will support
the business operation of offering up to 5-star rated hotel rooms and residential units.
For the advertising and promotions of the business it will be through the hotel brand
website, social networking, advertising gimmicks, commercials, radio broadcasting and the
business will be launching its own application for fast and convenient customer service of the
condotel.
The business will be challenge by the macro environment, micro environment, its own
weaknesses, and possible treats but the business will be responsible for its operation and the
business as one will be going through this challenges with ease because the business has
prepared sufficient financial needs, staffs, strategies to be on top of the game and back up plans
with its proper condition to accommodate its residents, that the business passed different
regulatory test safety and security and lastly that the business is capable of sustaining itself in the
long run. The business value its customer so much that the business will be positioning its brand
on hospitability and having priority on the customer’s bargaining power. All of this is to fulfill
the business promise and it is to provide the customers a home away from home.
CHAPTER III
The resource mobilizer and financial backers will be the investors and these
investors have their own capabilities, skills, and interests. They believe that giving them
the opportunity to become part of the business will be a success and it is true because
they have the money and know how to control how much and how many.
the owner who will be the financial backer in case of emergency. The success if the
business is once again from the investor and owner’s interest and dedication for the
business future.
The owner has made partnership to some large technology providers in the world
because the owner once again wants to provide its customer the best of the best
technology present. Some of the technology providers are Samsung and Lg plus
Microsoft for the software. Lastly on the security and safety are studied and placed
In addition to that, employees will be hired to monitor the security and safety of
all inside and near the condotel 24 hours in 7 days a week. Every identical part will have
For the top management and governance, the owner will hire and promote a
general manager with its assistant manager and deputy assistant manager for the purpose
of not having any trouble in managing the business. The financial director will be hired
with its accountant and cashier for the financing purposes. There will be a front office
manager that will facilitate the lobby and will be in charge in monitoring the assistant
front office manager, font desk agents and the valet parking. The human resource (HR)
manager will be responsible of taking care of the employee recruitment, arrange staff
one in charge will be assisted by HR assistant. There will also be food and beverage
director for the restaurant management. The sales manager is responsible on selling a
room or a unit and services to individuals and groups. Lastly, the logistics department is
responsible for tracking for daily supplies, purchasing appliances, and keeping security.
All of the business employees and staff are the operating and support team.
Seminars and workshops will be made and team building activities in order to build and
strengthen themselves on the challenges that may encounter in the progress of the
condotel. Although seminars and workshop will takes place the owner will still put effort
of checking the condition of the staff because the operating and support team are one of
CHAPTER IV
The Reminisce condotel is a place home away from home with its antique ambiance and
unique characteristics. Since the reminisce condotel branch will be built in the new city in Clark,
Pampanga, most of its target customers will be the people there. In addition to that a nearby
have a comfortable home to reside in every time they visit the new city (capital)
of the Philippines.
Local investors who would appreciate the big potential of the business.
Parents with kids studying in the new city who would like to provide their kids
People who want the advantage of home ownership at the new city and capital of
the Philippines.
People who wants to own a unit and let it earn for them.
Building features
Everything below is at its updated software provided by Microsoft and the technologies
The business doesn’t limit its target market all who wants to book in the hotel and to buy
residential units are accommodated as long as the rooms and units are still available to occupy.
The target customers are just to focus of the business to market itself to them and also this is to
show its relevance and need for it in the market. The Reminisce Condotel will provide temporary
living spaces for the buyers whenever they visit the new city, whether for business or pleasure
and an investment tool that earns for them when not in use.
CHAPTER V
A. The Market
different the market where product and service are being sold. The market of these industries
depend so much on the demography and its environment, if a place is some way near some
tourist attractions, schools especially universities, big businesses this industry easily blooms out
of nowhere but if these industry is not located any nearby gateways it could hardly sustain itself
The Reminisce Condotel is built in the New City, Clark, Pampanga and its most target
customer will be people around the city and those who want to invest a unit in a prime location.
The market is in need and a big demand for hotel and condominiums specially to those who are
looking for a prime location like near the school and near to some attractions. The market trend
in the past year until today is that owning a condominium unit is already a privilege to other
culture.
The reminisce condotel provides its target market a home away from home, it provides
them a complete package where short time stay or long time or even an invest of room is present
because we combine the function of hotel and condotel and its offering. On the other hand,
reminisce condotel is undeniably support its customers on their demand of hospitality and their
high standards and this condotel will surely penetrate its market.
B. Industry Dynamics
The reminisce condotel will be facing some of the best hotels and condominium
businesses in the country because of the big opportunity that open in the New City, Clark,
Pampanga. Some hotels and condominium will surely arise but being the combination of both
Small businesses that offer small time stay with super affordable price also will be threat
to us so we ensure that our business ambiance will be friendly and very accommodative to all
customers. Being a condotel is a benefit indeed, wider range of market, bigger number of
customers and bigger potential market also market share. The customer service of our condotel is
a game changer to the competition because we value the bargaining power of customers that it is
not just us who value them and we give them reason to value as also.
The reminisce condotel will ensure its place on top of every competitor by maintaining its
5-star rating in every areas and providing customer the best and worth it experience to all its
customer.
C. Macroenvironment Analysis
society where customers won’t be a problem where and how they will stay because investing to
condominiums and going to a hotel in a place they normally go is very much less hustle and very
much an investment. Macro environment is everywhere in affect both people/ customers and the
business.
a) Politicolegal
legislation is constantly changing and every continent adopts different laws. Business
legislation is enforced to protect consumers, companies and the interests of society. In the
part of our Team Members we provide them sufficient seminars and workshops such as
leadership trainings, workshop for customer service and the like for them to be certified
and work sufficient. The reminisce condotels prepares and ensure the quality and
integrity of the building that it passed all necessary requirements to operate the business.
b) Economic
The Philippines inflation rate has made a big impact to the Filipinos which made
the decrease of customers to invest for a residential condominium and reduce the local
tourist of staying longer in the place because of high cost of products. Thus this changes
with the Politicolegal environment result for the reminisce condotel to enhance and
recognizes the bargaining of customers for them to ask what they want, terms and
conditions plus the price and can be agreed upon by the management.
c) Sociocultural
economy. Philippines are known in having hospitable citizens, where it welcomes its
tourist like no other countries. Reminisce condotel provides global hospitality; their
services are provided accordingly with their customer’s needs. The condotel contributes
revenues to the government that serves the community in need. The culture that is already
just memories to other are being preserve in the condotel with its own small museum
with antiques displays in the condotel such as the lobby and hallways, thus adding more
d) Technological
adapts with these technologies and utilizing it inside the condotel such as advance cctv
cameras, biometric lock, finger print locks, solar panels and the like provided by the
condotel technology provider LG company and Samsung and Microsoft for the software.
Adding to this is the reminisce condotel launching its own application where it
offers browsing for the room availability and reservation of course only with loyal
customers. Also the condotel offers loyalty programme where you can earn points and
receive rewards such as free parking, discounts, free meals and the like.
e) Natural
to the issue of global warming. The reminisce condotel are facing tight regulations to
reduce carbon footprints at the same way increasing the operational cost of the condotel.
All business in the market present in the whole world has its stable line of operation
where opportunities opens and it is now for the business to grab and make use of it. The
reminisce condotel feels this too and here are some of its opportunities where it will be the
OPPORTUNITIES:
The condotel will provide the people who visits the new city, a shelter for some
time or a home to stay. Plus, in the new city, residential houses are not welcomed if not a
very expensive lot and the condotel will be a game changer available for everybody.
Being a condotel
Being a condotel scopes a wider range of market, bigger number of customers and
surely by being condotel it is an eye magnet to investors and to those willing to invest.
Customers has high expectations with condotel and this greatly benefits the condotel to
There are more booking and travelling options meaning more and more tourist
going inside and out different places and hotels will be a good business.
them. Sometimes this causes their downfall, most business do prepare for these threats even
future threats such as renovations. The reminisce condotel’s present threats are the following:
THREATS:
This small lodging places are providing customers super affordable motels for
short time stay and is a big treat to reminisce condotel because they take small time
implementation of inflation rate, it greatly affects the customers, business and staffs where
the business has to come up with this immediately by implementing new strategy to address
this change.
The nearby businesses who offers hospitality services getting a part to the market and
The target market of the reminisce condotel are both the hotel and condominium
customers. The target market for the hotel are the balikbayans who wants to find a room to reside
while visiting the new city, the local investors and international investors who foresee the
potential of the business. The target market for the condominium units are families who wants to
have a secure investment, customers who seeks advantage for home ownership in a prime
location which is the New city in Clark, Pampanga and those customers who wants to own a unit
The market size of the Reminisce Condotel is larger than the market size of the hotel and
condominium industries because of course of the capacity and the big offers of our condotel.
For the hotel, the number of customers (per family) expected to be market is 2500 and their
= 182,500,000
convention rooms and the like. One part of the package offers a program were in unit owners can
make their unit profitable by agreeing to the terms and condition of the management that other
customers can rent the unit it as a hotel room in a short time, the cleaning and maintenance is
free but it depends on the square area coverage of the free service. Unit owners can assure the
security of their belongings by putting individual secret security locker in every room that the
The right for the customer to bargain is highly observe, by having a separate
accommodating desk for the owners for inquiries and new customers to query, present at the
lobby. The reminisce condotel offers a home away from home service to its customers. A
restaurant with wide range of menu is also offered to both residential and hotel customers even
All rooms are not the same and that depends upon the terms and conditions signed by the
customer from the management of the condotel. A wide range of choices are present in every
room like in hotel rooms we have many choices like of single commercial room, 2-3 bedrooms a
presidential suite all with bathroom and a table. On the other hand, the residential condominium
will also be having the choices like single bedroom commercial unit, 2-3 bedrooms a presidential
unit with dinning are, receiving area, kitchen and toilet and bathrooms but modification of the
rooms such as painting the walls has to pass the management’s regulation and justification. We
assure the terms and conditions are clear to the customers before signing and again bargain in
those terms and conditions are allowed to gain win and win situation to both parties.
23 P a g e |The Reminisce Condotel
Per Room Pricing
A rate is given per room without taking into account the number of people being
accommodated in that room. The same rate is applied whether one person or two people stay in
the room. Then, the difference for breakfast is applied per person.
below:
Food rate: Php 250.00 / per person Single / Double Room Only: Php 5,000.00
Difference for Third Person: Php 1,500.00 Triple Room Only: Php 6,500.00
Note: With this pricing model, you should not ignore the fact that there are many price
variations: 4 room types (Commercial, Superior, Deluxe, Presidential) 2 rate types (Room Only,
For the residential condominium units, it is sold by rent to out and it can be semi-annual,
monthly, and annual payment. The ordinary condomium unit with single bedroom commercial
unit, 2-3 bedroom superior, deluxe and presidential units with dining area, receiving area,
kitchen and toilet and bathrooms. The price of the commercial unit ranges from Php 30,000 – 50,
000, the upper unit ranges from Php 80,000 to 300,000. All the customers who wants to inquire
are accommodated in the customer service area where they can bargain about the price,
modifications, design and the like to come up with an acceptable agreement and the signing of
contract.
A. Enterprise Strategy
The reminisce condotel wants to establish itself in the local market and will start in
the new city, Clark, Pampanga. The business will be focusing on its hospitality, making the
business the reflection of the Filipinos at the same time sustaining business financial need
and building its good image and reputation as a head start for the business to reach its future
Since the business will be a part of the new city therefore it will be focusing its
strategies major to the international tourists and locals who will be visiting Clark, Pampanga.
One of its strategy will be the business having a website and it will provide the visual treat
for the visitors, in just a matter of clicks you can make a book on your chosen hotel rooms
and you will be informed about anything on the hotel with those clicks. Secondly the
power which will be having a separate customer service section in the lobby. Thirdly, all of
the things used to construct the building, design the building, software and technologies are
high end qualities provided by big names and companies such as LG, Samsung, Microsoft
and Tox Hardware. Lastly, resource mobilizer is not just the investors who will provide the
financial need but also the owner who will be the financial backer in case of emergency. The
success if the business is once again from the investor and owner’s interest and dedication for
number of valued customer throughout its operation. The resource mobilizer, financial
backers are
sufficient, the technology providers and applicators are responsive and has already
made partnership with them, the governance and top management has already been set from
President up to the Service Crews, and the last operating and support team are overdosed
with seminars and workshop to maximize and perform a 5-star service for the hotel and
condominium operations.
The diagram 1.4 entail that the Reminisce Condotel’s input in the enterprise delivery
system are the cause and the origin of the concept of building a hotel enterprise, residential
condominium in the New City, Clark, Pampanga and the prime location opportunity which is a
big pro for the business. The business proponents and the people behind the business are the
Resource Mobilizer and Financial Backers, Technology Providers and Applicators, Governance
and Top Management, Operating and Support Team. The success of the business venture to
operate result to high-end made Reminisce Condotel offering up to 5-star rated hotel rooms,
planned to have an initial image to the market. The marketing mix will serve the business
stepping stone towards the common goal. Also the marketing mix will be one cause of the
desired outcomes most are the fulfillment of the business goal like local expansion, customer
satisfaction and loyalty, with its early return of investments and the like. Lastly the business
enterprise delivery system shows the business competitiveness and its stand out strategies to be
on top of the game, plus the business promotes the country’s hospitability.
A. FINANCIAL FORECAST
Owner’s Equity
Initial Investment 170,250,000
Capital 200,000,000
Net Income 576,500,000
Total Equity: Php 946,750,000.00
Income
Sales 1,000,000,000
Less: Cost of goods sold (condo units) 300,000,000
Gross Profit: 700,000,000
Expense
Payroll expense 2,500,000
Utility expense 3,500,000
Repairs and Maintenance expense 1,250,000
Advertising expense 3,000,000
Insurance expense 10,000,000
Taxes and Licenses expense 5,000,000
Depreciation expense 101,500,000
Miscellaneous expense 250,000
Total Expense: 124,000,000
Net Income: Php 576,500,000.00
The business wants to fulfill the business’ vision, mission and achieve its objectives with
no other agendas and this needs 100% responsibility is upon the business management. With this
reason the business also admits the risk that the business may face and made some of the risk
contingency to handle the risks. These contingencies don’t reduce the probability of the possible
Risk Contingencies
Natural foundation, big and thick shatter proof windows, thick walls that can ensure
Calamities the life of the residents and people inside the building. Moreover the
residents in emergencies, plus the business allot financial need with this
Budget reminisce condotels has its financial back-ups and mobilizer to ensure the
seminars and the like to make it up with the staffs and giving them no
Staffs Issues reason not to work well. The condotel also hires back up staffs in case of
business has its own back-ups such in the power shortages, the business has
a number of generators and solar energies generated from the solar panels
and this will sustain the business power for months. The water shortage also
is well viewed and the business has its own water well just for the water
business functions and equipment issues are a big problem in the business.
The reminisce condotel sees and prepares back-ups with this like in having
Equipment
computer breakdowns, virus attacks and the like the business stores back-up
Issues
copies of the stats and information both with hard and soft copies to ensure
this the business hires an expert in software to ensure the data are safe.
Also, the business allots sufficient back-up financing need in this risk.
Owners Illness The reminisce condotel is owned by two owners and the death of
or Death one partner will result for the other one to take charge in the business.
CHAPTER IX
rooms/units to its valued customers. The business prepares with environmental and regulatory
compliance in as early as the first day of conceptualization of the business. The business hires a
consultants and a business lawyer to plan and prepare for the environment analysis, strategies
that will make the business eco-friendly business that will surely be benefited by the country,
also with regulatory compliance it will be monitored just in a way the business will adjust its
offering to the market tome the business still profitable and making sure that the service provided
is one of a kind.
particularly as legislation is constantly changing and every continent adopts different laws.
Business legislation is enforced to protect consumers, companies and the interests of society. In
the part of our Team Members we provide them sufficient seminars and workshops such as
leadership trainings, workshop for customer service and the like for them to be certified and
work sufficient. The reminisce condotels prepares and ensure the quality and integrity of the
On the other hand, for the environmental adjustments made by the business to make it
eco-friendly, Big establishments such as hotels, industries and some corporations are
contributing a considerable amount towards carbons emissions with negative implications to the
issue of global warming. The reminisce condotel are facing tight regulations to reduce carbon
footprints at the same way increasing the operational cost of the condotel. Thus, this result for
the Reminisce condotel to invest for solar energy to decrease both carbon emissions and
Lastly, the reminisce condotel ensure that the business is making a good relationship and
good image with the government and making the residents safety first as providing them a
residential permitted facilities and structures. Thus, the business will be making sure of sufficient
update of the deadlines of its contracts in regulatory compliance and the business will be
monitored and check more to ensure its eco-friendly status high and rated 5-star.
CHAPTER X
A. CAPITAL STRUCTURE
from the shareholders and some only came from the investors, the business partners, and
financers. The equity capital is followed by the business as the capital structure.
The assets on top is where the invested and capital money will go. This structure is
beneficial for the company because majority of the financed used is the business operation came
from the shareholders, the owners but the cost can be very high. In the business world the higher
Below are the liabilities and the owner’s equity that will balance and finance the assets:
Our investors are being well accompanied by the condotel business by the formula below,
which have been agreed upon by the investors for them to benefit from their investment:
For example, the investment of Mr. Tom McKey is Php 5,000,000 and the money were
used to supply the financial need of the business and his investment made helped the business to
operate and this result for the annual revenue of 124,000,000 less 5,000,000 for his investment
and result is multiplied by 2% for their benefit and this is one way of the business to give thanks
for their trust. Moreover, after this first year of getting their benefit from their investment they
can now withdraw the 50% of their investment if they want, if not the second year will reduce
the benefit to 1.5% up to the 5 year they will be paid 100% and the recon tract of their
formality and ethics. The business ensures that the investors are aware of the terms and
conditions of the business upon their investment and also the terms that are suggested by the
investors are processed and let every investor of the business to know and talk about it.
And of course to our financers we do also give them shares annually as their reward for
supporting the business operations. Also, the money used to finance the business will be returned
semi-annually depending on the agreed term of both the business and the financers such as bank
loans. Lastly the business partners will be ensured that the business is making effort of making
them accommodated by fulfilling the contract and paying them sufficiently and giving them
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Marketing by So Torres
Entrepreneurship by Eduardo A. Morato Jr.