Si Boss Joe Minimart Business Plan

Executive Summary

For many years, the retail and wholesale grocery business has

been existing, catering to the needs for basic commodities to

customers around the world.

With the advent of Covid-19, strict health protocols were

implemented. Hence, people avoid going to crowded areas and

inconveniently reduced their buying frequency.

Because of this, the owners found a compelling need to satisfy

the, with an offering. Hence, Si Boss Joe Minimart Wholesale and

Retail was established.

Si Boss Joe Minimart Wholesale and Retail is a grocery store that

will sell basic commodities such as rice, body and bath essentials,

poultry and meat products and beverages, strategically located along

the highway at Salay Bayambang, Pangasinan. In addition to the

physical store, a rolling or mobile store will also be operated to

further meet the growing demand of the customers. Cost Leadership

Strategy will be utilized to achieve the market positioning it

intends. That is, to be the best in offering quality goods and

services to its customers and collaborators at an affordable price. In

addition to the word-of-mouth strategy, social media presence and text

messages will be highly used to reach customers and making it an

online platform for order taking simultaneously.

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Business Profile

Location: #55 National Highway Salay Bayambang, Pangasinan

Hours of Operation: 8:00 AM- 5:00 PM, Monday- Saturday

Brief History

Si Boss Joe Minimart Wholesale and Retail is founded by siblings

Pamela and Alvin Ramo. Alvin, a sales agent himself, was known by his

nickname Joe. Hence, the name of the business.

While the number of COVID-19 cases is proliferating and people

are hesitant to go to crowded places, the owners decided to grab the

chance to bring the essential goods to the customers’ doorsteps by

putting up a rolling store, in addition to the physical store located

at Salay Bayambang, Pangasinan.

Logo

Figure 1 is the logo of Si Boss Joe Wholesale and Retail. The

logo shows a grocery store and a “garong”, which will be used as a

rolling store and to transport its commodities. It is against a red

and green striped background, which gives a zooming effect, giving

emphasis to these two important aspects of this business. The red

color symbolizes speed, while green reflects the freshness of the

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goods offered. Moreover, the effect symbolizes its main purpose, to

bring the commodities to customers at the comfort of their homes.

Figure 1. Logo

Vision

To be the leading wholesale distributor in Pangasinan, striving

to provide utmost quality of goods and services, making Si Boss Joe’s

Minimart the go-to-store for every needs of every Joes as well as for

its collaborators the most outstanding retailers in providing customer

satisfaction.

Mission

To achieve customer satisfaction by ensuring the safety and

quality of the commodities sold, as well as maintaining a positive

relationship with its collaborators.

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Objectives

 Provide a fast service by reducing 30% queue time per customer

and ensuring to meet the 30-minute target delivery time.

 Maintain cleanliness in store through daily cleaning and weekly

sanitizing.

 Increase monthly sales by 30% by achieving a target number of

walk-in customers and new wholesale accounts.

 To increase the inventory turnover ratio to 5% monthly

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Market Analysis

In this world where competition among businesses is tight, it

would be difficult for a start-up to at least penetrate the market

without understanding who the market is. Therefore, market analysis is

one of the most crucial part. This chapter tackles the size of the

market in both volume and value, as well as the customer segments and

competition. It shows the expertise and market attractiveness of the

business.

Target Market

Si Boss Joe Minimart Wholesale and Retail targets residents of

Bayambang, Pangasinan. According to the census, there are 118,205 people

in 2015. The number of households in Barangay Poblacion, Bani, Bical

Norte is 1461 households, with an annual growth rate of 1.86% from

2015 to 2020. These were the chosen places since these are the nearby

barangays of Poblacion, where the business will be located. Si Boss

Joe Minimart Wholesale aims to target at least 30%. With the

affordable commodities sold, there's a high chance of achieving the

said target. In addition, it will also offer wholesale products for

consignment.

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Poblacion

Bani

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Bical Norte

Total Number of Households in 2015

Poblacion 243
Bani 573
Bical Norte 645
Total 0

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Using the Slovin’s Formula, the sample population is computed as

follows:

n = N / (1+Ne2).

whereas:

n = no. of samples

N = total population

e = error margin / margin of error

n= 1461/(1+1461(.05^2))

=314

Demand Analysis

Demand analysis is essential to find out whether a substantial

demand exists for the product/service as well as some other vital

information such as the number and size of competitors. This can help

businesses to decide whether they could enter the market and advance

its business.

Survey Result

The researcher floated 314 questionnaires to gather the necessary

data needed using the Slovin's Formula with .05 margin of error. The

survey took place in different areas in Bayambang, preferably in

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Poblacion, Bani, Bical Norte where most customers will come from.

Online Google Forms were also utilized.

Historical Demand

Number of Households in 2015-2020 with an annual growth rate of

1.86%.

  2015 2016 2017 2018 2019 2020 2021

Poblacion 243 248 252 257 262 266 271
Bani 573 584 595 606 617 628 640
Bical
645
Norte 657 657 669 670 682 695
Total 1461 1488 1504 1532 1548 1577 1606

Since there is no concrete data regarding the demand for mini

groceries in Bayambang, the demand is computed by getting the

total number of households in Poblacion, Bani and Bical Norte

which is 1461 households for the year 2015, multiplied by the

market acceptability which is obtained by the percentage of

respondents who are willing to buy commodities in mini grocery

stores (70%).

Table 6: Historical Demand

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Annual
Total Market
Year Historical
Population Acceptability
Demand

2015 1461 70% 1023

2016 1488 70% 1042
2017 1504 70% 1053
2018 1532 70% 1072
2019 1548 70% 1084
2020 1577 70% 1104
2021 1606 70% 1124

Projected Demand

Formula: Average Annual Increase for the period of 2015 – 2020

= 2021 Demand – 2015 Demand

Number of Years – 1

= 1124– 1023
7 – 1

= 16 potential families

Table 7: Actual Projected Values for Demand

The Projected Average Increase in Demand is 1,250 potential

customers

Year Projected Demand

2021 1124
2022 1140
2023 1156

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2024 1172
2025 1188
2026 1204

The table shows the projected demand for the year 2022 to

2026. Year 2021 is included in the projection for the continuity

of presentation.

Historical Supply

Past supply is identified by getting the estimated number of

customers of the probable competitors plus the annual increase in

population which is 1.86%

Table 8. Historical Supply

Number of households that buy groceries from competitors

Frequency Percentage
Norma Store 72 23%
Bayambang Grocery 83 26.5%
Public market 128 41%
7 Eleven 25 8%
Others 5 1.5%
Total 314 100%

Historical Supply

Competitor 2015 2016 2017 2018 2019 2020 2021

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Norma Store 72 73 75 76 78 79 80
Bayambang Grocery 83 85 86 88 89 91 93
Public market 128 130 133 135 138 140 143
7 Eleven 25 25 26 26 27 27 28
Others 5 5 5 5 5 5 6
Total 314 319 325 331 337 343 350

Projected Supply

Formula: Average Annual Increase for the period of 2012 – 2018

= 2021 Supply – 2015 Supply

Number of Years – 1

= 350 – 314
7 – 1

= 6 potential households

The Projected Average Increase in Supply is 113 potential

customers.

Table 9: Projected Supply

Competitor 2021 2022 2023 2024 2025 2026

Norma Store 80 86 92 98 104 110
Bayambang
93 99 105 111 117 123
Grocery
Public market 143 149 155 161 167 173
7 Eleven 28 34 40 46 52 58
Others 6 12 18 24 30 36
Total 350 380 410 440 470 500

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The table shows the projected supply for the year 2022 to
2026. Year 2021 is included in the projection for the continuity
of presentation

Table 10: Demand and Supply Gap

Demand-
Yea Deman Suppl Percent
Supply Market Share
r d y Unsatisfied
Gap

Quantity
(d) = Target
(c)=(a)
  (a) (b) [(c)/(a)]x10 (No. of Percentag
-(b)
0 households e
)

202
1124 350 774 68% 232 30%
1
202
1140 380 760 66% 228 30%
2
202
1156 410 746 64% 224 30%
3

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202
1172 440 732 62% 220 30%
4
202
1188 470 718 60% 215 30%
5
202
1204 500 704 58% 211 30%
6

Market Positioning

Market positioning influences customers’ perception regarding

the brand. Boss Joe Minimart Wholesale and Retail wants to be

identified by the target market as an establishment that provides

quality products with a low price. Figure 5 shows the perceptual

map of the marketing positioning of Boss Joe Minimart Wholesale and

Retail

High Quality

Low Price High Price

Low Quality

Figure 2. Market Positioning

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Marketing Plan

In this section, different strategies will be considered

using the 4 P’s which is the Product, Price, Place and Promotion

Product and Services

Si Boss Joe Minimart Wholesale and Retail offers a wide array of

basic commodities such as produce, dairy, snacks and hygiene products

in its physical store. In addition, Si Boss Joe Minimart Wholesale and

Retail will offer affordable online ordering and delivery

services as well as a rolling store to meet the demands of

residents in Bayambang.

Price

To make it affordable, Si Boss Joe Minimart Wholesale and

Retail will offer its products following the suggested retail price,

while also offering in wholesale price for other small businesses to

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resell. For resellers and consignments, products will be sold at

wholesale price, with free delivery within Bayambang and a minimum of

70 pesos outside Bayambang

Online retail purchases are also available for a minimum of 2,000

pesos worth of single-receipt purchase, with free delivery within

Bayambang and a minimum of 70 pesos delivery charge outside Bayambang.

Place

Boss Joe Minimart Wholesale and Retail will be strategically

located at Poblacion, Bayambang, Pangasinan. It will be along the

highway where jeepney lines are accessible. The floor area is

5mx3m. The place is legally owned by the minimart’s owner.

Figure 3. Vicinity Map

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Figure 4. Front View

Produce/Dairy

Be
ver
LAUNDRY ESSENTIALS SOLUTIONSCLEANING

BATH AND BODY ESSENTIALS

BREAD/ CHIPS/ SNACKS

ag
COFFEE/ MILK/ CANDIES

es

Wi
CAS ne
s/
HIE cig
R ar
FROZEN GOODS ett
ENTRANCE es

Figure 5. Floor Plan

To reach out to more customers in these trying times, a

rolling store using a “garong” will be travelling across

neighborhoods and sell the products at a reasonable price.

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Promotion

Part of Si Boss Joe Minimart Wholesale and Retail’s strategy is

to create its own social media accounts on Facebook and Instagram. In

addition to promotional discounts posted on social media, it will also

be utilized in its online operations, particularly order and delivery

system

Strategy and Implementation

Sales Strategy

Si Boss Joe Minimart Wholesale and Retail’s strategy will be

implementing a Cost Leadership Strategy, wherein it will offer its

products at a very affordable price. This will be effective since the

products sold are not new in the market anymore. Hence, the doubt of

buying quality products is removed. In addition, Filipinos, especially

residents in Bayambang would love to buy basic commodities at a cheap

price while enjoying the comfort and safety of their homes. With such,

the owner will seek suppliers that can provide the store enough supply

for bulk orders. By ordering from direct suppliers, Boss Joe Minimart

Wholesale and Retail can purchase items in discounted price, which can

further support the said Cost Leadership Strategy.

Sales Forecast

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SALES FORECAST

*The projected average increase in demands is 2,859 potential customers.

*Php 150 aveerage amount of money used every month in a grocery for every customer.
*Php 1,800 used money in a year for every customer.
*Php 1,200 direct cost in a year for every customer.

No. of Customer Average Amount 2021 2022 2023 2024 2025

in a year in a year
30,422 ₱ 1,800.00 ₱ 54,759,600.00
33,281 ₱ 1,800.00 ₱ 59,905,800.00
36,140 ₱ 1,800.00 ₱ 65,052,000.00
38,999 ₱ 1,800.00 ₱ 70,198,200.00
41,858 ₱ 1,800.00 ₱ 75,344,400.00
Total Sales Forecast ₱ 54,759,600.00 ₱ 59,905,800.00 ₱ 65,052,000.00 ₱ 70,198,200.00 ₱ 75,344,400.00

DIRECT COST FORECAST

No. of Customer Average Amount 2021 2022 2023 2024 2025

in a year in a year
30,422 ₱ 1,200.00 ₱ 36,506,400.00
33,281 ₱ 1,200.00 ₱ 39,937,200.00
36,140 ₱ 1,200.00 ₱ 43,368,000.00
38,999 ₱ 1,200.00 ₱ 46,798,800.00
41,858 ₱ 1,200.00 ₱ 50,229,600.00
Total Direct Cost of Sales ₱ 36,506,400.00 ₱ 39,937,200.00 ₱ 43,368,000.00 ₱ 46,798,800.00 ₱ 50,229,600.00

Marketing Objectives

Customer Satisfaction

It is the main goal of Boss Joe Minimart Wholesale and

Retail to provide quality and affordable basic goods to

every Filipino with utmost convenience. To do this,

different payment methods shall be offered to our customers

who ought to have online transactions. Payment channels such

as Gcash and bank transfers shall be accepted. By ensuring

that the products are of good quality, constantly observing

strict health protocols and providing fast service, it is

very likely to achieve customer satisfaction.

Customer Acquisition

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It is but essential to reach our targets and part of it

is to gain them through leads generation, effective personal

selling and building customer loyalty. Integrated Marketing

Communication tools must be utilized such as social media

promotions and word of mouth, partnered with banners and

signboards placed within the store proximity.

Market Development

Since the business is in the retail and wholesale

industry, the business' long-term goal is to reach every Joe

across the Philippines. As it reaches its full potential, an

online grocery application could be developed, while

partnering with numerous riders nationwide.

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Management Plan

Personnel Plan

Personnel FY 2021 Fy 2022 FY 2023 FY 2024 FY2025

Plan

Co-owner 109,200 109,200 109,200 109,200 109,200

@350/day

Cashier 109,200 109,200 109,200 109,200 109,200

/Co-owner

@350/day

Agent 1 78,000 + 78,000 + 78,000 + 78,000 + 78,000 +

@250/day 1%Commission 1%Commission 1%Commission 1%Commission 1%Commission and

and P100/ and P100/ and P100/ and P100/ P100/ account

account account account account

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Agent 2 78,000 + 78,000 + 78,000 + 78,000 + 78,000 +

@250/day 1%Commission 1%Commission 1%Commission 1%Commission 1%Commission and

and P100/ and P100/ and P100/ and P100/ P100/ account

account account account account

Start-up Summary

Organization Cost
Description Cost Total Cost
DTI Registration ₱ 215.00
Business/Mayor's Permit ₱ 7,170.00
Community Tax Certificate ₱ 50.00
Barangay Business Clearance ₱ 100.00
Bureau of Fire ₱ 226.00
Sanity Permit ₱ 100.00
Mayor's Permit ₱ 6,695.00
Bureau of Internal Revenue ₱ 619.00
Payment Form 0605 ₱ 500.00
DST Form 2000 ₱ 19.00
Books of Accounts ₱ 100.00

Start-Up Expenses
 
Licenses and Permits ₱ 8,000.00

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Promotional Materials ₱ 500.00

Display Case, Shelves and Baskets ₱ 3,000.00
Electric Repairs ₱ 2,000.00
2 Second Hand Garong (20,000 each) ₱ 40,000.00
Office Supplies ₱ 2,000.00
Cashier Machine ₱ 13,000.00
TOTAL START-UP EXPENSE ₱ 68,500.00

Start-up Assets Needed

  Cash Requirement 0
  Start-up Inventory 300000
  Other Short term Assets 0
  Total Short Term Assets 300000
     
  Long-term Assets 0
  Total Assets 300000
 
Total Start-up Requirements:   368500
Left to Finance:   350000
 
Start-up Funding Plan
  Investment  
  Investor 1 0
  Owner's Investment 0
  Total Investment 0
 
  Short term Liabilities  
  Unpaid Expense 0
  Short term Loans 0
  Long-term Liabilities 300000
  Total Liabilities 300000
 
  Loss at Start-up 0
  Total Capital 0
  Total Capital and Liabilities 300000
  Checkline 0

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Financial Plan

Projected Statement of Financial Performance

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Boss Joe Minimart Wholesale and Retail

Projected Statement of Financial Performance
December 31, 2021 to December 31, 2025

Note 2021 2022 2023 2024 2025

Sales ₱ 54,759,600.00 ₱ 59,905,800.00 ₱ 65,052,000.00 ₱ 70,198,200.00 ₱ 75,344,400.00
Direct Cost of Sale ₱ 36,506,400.00 ₱ 39,937,200.00 ₱ 43,368,000.00 ₱ 46,798,800.00 ₱ 50,229,600.00
Gross Profit ₱ 18,253,200.00 ₱ 19,968,600.00 ₱ 21,684,000.00 ₱ 23,399,400.00 ₱ 25,114,800.00
Less: Operating Expense 1 ₱ 68,500.00 ₱ 18,024.00 ₱ 77,536.00 ₱ 32,554.00 ₱ 47,081.00
Net Income before Tax ₱ 18,184,700.00 ₱ 19,950,576.00 ₱ 21,606,464.00 ₱ 23,366,846.00 ₱ 25,067,719.00
Provision to Tax ₱ 6,064,645.00 ₱ 668,270.16 ₱ 7,262,262.40 ₱ 7,878,396.10 ₱ 8,473,701.65
Net Income after Tax ₱ 12,120,055.00 ₱ 19,282,305.84 ₱ 14,344,201.60 ₱ 15,488,449.90 ₱ 16,594,017.35

Note 1
Operating Expense 2021 2022 2023 2024 2025
License and Permits 8000 12024 18036 27054 40581
Promotional Materials 500 500 500 500 500
Display Case, Shelves and Baskets 3000 3000 3000 3000 3000
Electric Repairs 2000 500 1500 1000 1000
2 Second Hand Garong (20,000 each) 40000 40000
Office Supplies 2000 2000 1500 1000 2000
Cashier Machine 13000 13000
TOTAL OPERATING EXPENSE 68500 18024 77536 32554 47081

Projected Statement of Changes in Owner’s Equity

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BOSS JOE MINIMART WHOLESALE AND RETAIL

Projected Statement of Changes in Owner's Equity
December 31, 2021 to December 31, 2025

Capital 2021 2022 2023 2024 2025

Initial Investment Capital, Beginning ₱ 350,000.00 ₱ 12,420,055.00 ₱ 31,602,361.00 ₱ 45,846,563.00 ₱ 61,235,013.00
Add: Net Income ₱ 12,120,055.00 ₱ 19,282,305.84 ₱ 14,344,201.60 ₱ 15,488,449.90 ₱ 16,594,017.35
Total ₱ 12,470,055.00 ₱ 31,702,360.84 ₱ 45,946,562.60 ₱ 61,335,012.90 ₱ 77,829,030.35
Less: Withdrawal ₱ 100,000.00 ₱ 100,000.00 ₱ 100,000.00 ₱ 100,000.00 ₱ 100,000.00
Capital, End ₱ 12,370,055.00 ₱ 31,602,360.84 ₱ 45,846,562.60 ₱ 61,235,012.90 ₱ 77,729,030.35

Projected Statement of Cash Flow

BOSS JOE MINIMART WHOLESALE AND RETAIL

Projected Statement of Cash Flow
December 31, 2021 to December 31, 2025

Cash 2021 2022 2023 2024 2025

Cash on Hand, Beginning ₱ 350,000.00 ₱ 18,775,500.00 ₱ 32,573,474.07 ₱ 53,423,014.84 ₱ 69,438,945.14
Add: Net Income ₱ 18,184,700.00 ₱ 19,950,576.00 ₱ 21,606,464.00 ₱ 23,366,846.00 ₱ 25,067,719.00
Total Cash ₱ 18,534,700.00 ₱ 38,726,076.00 ₱ 54,179,938.07 ₱ 76,789,860.84 ₱ 94,506,664.14
Less: Office Supplies ₱ 2,000.00
Office Equipment ₱ 56,000.00
Security Deposit ₱ 50,000.00
Salaries Payable ₱ - ₱ 374,400.00 ₱ 374,400.00 ₱ 374,400.00 ₱ 374,400.00
Premium Contribution Payable ₱ - ₱ 13,200.00 ₱ 14,043.07 ₱ 14,190.00 ₱ 14,336.81
Payment for Withholding Tax Payable ₱ -
Payment for Income Tax Payable ₱ - ₱ 6,064,645.00 ₱ 668,270.16 ₱ 7,262,262.40 ₱ 7,878,396.10
Withdrawal ₱ 100,000.00 ₱ 100,000.00 ₱ 100,000.00 ₱ 100,000.00 ₱ 100,000.00
Total Cash Outlay ₱ 208,000.00 ₱ 6,552,245.00 ₱ 1,156,713.23 ₱ 7,750,852.40 ₱ 8,367,132.91
Net Cash ₱ 18,326,700.00 ₱ 32,173,831.00 ₱ 53,023,224.84 ₱ 69,039,008.44 ₱ 86,139,531.23
Add: Depreciation Expense- Equipment ₱ 11,200.00 ₱ 11,200.00 ₱ 11,200.00 ₱ 11,200.00 ₱ 11,200.00
Salaries Payable ₱ 374,400.00 ₱ 374,400.00 ₱ 374,400.00 ₱ 374,400.00 ₱ 374,400.00
Premium Contribution Payable ₱ 13,200.00 ₱ 14,043.07 ₱ 14,190.00 ₱ 14,336.81 ₱ 14,597.71
Payment for Withholding Tax Payable ₱ -
Cash on Hand, Ending ₱ 18,725,500.00 ₱ 32,573,474.07 ₱ 53,423,014.84 ₱ 69,438,945.25 ₱ 86,539,728.94

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Projected Statement of Financial Position

BOSS JOE MINIMART WHOLESALE AND RETAIL

Projected Statement of Financial Position
December 31, 2021 to December 31, 2025

Assets 2021 2022 2023 2024 2025

Current Assets
Cash ₱ 18,725,500.00 ₱ 32,573,474.07 ₱ 53,423,014.84 ₱ 69,438,945.25 ₱ 86,539,728.94
Offi ce Supplies ₱ 2,000.00 ₱ 2,000.00 ₱ 2,000.00 ₱ 2,000.00 ₱ 2,000.00
Total Current Assets ₱ 18,727,500.00 ₱ 32,575,474.07 ₱ 53,425,014.84 ₱ 69,440,945.25 ₱ 86,541,728.94
Non-Current Assets
Equipment, Net ₱ 44,800.00 ₱ 33,600.00 ₱ 22,400.00 ₱ 11,200.00 ₱ -
Security Deposit ₱ 50,000.00 ₱ 50,000.00 ₱ 50,000.00 ₱ 50,000.00 ₱ 50,000.00
Total Non-Current Assets ₱ 94,800.00 ₱ 83,600.00 ₱ 72,400.00 ₱ 61,200.00 ₱ 50,000.00
Total Assets ₱ 18,822,300.00 ₱ 32,659,074.07 ₱ 53,497,414.84 ₱ 69,502,145.25 ₱ 86,591,728.94

Liabilities
Current Liabilities
Salaries Payable ₱ 374,400.00 ₱ 374,400.00 ₱ 374,400.00 ₱ 374,400.00 ₱ 374,400.00
Premium Contribution Payable ₱ 13,200.00 ₱ 14,043.07 ₱ 14,189.84 ₱ 14,336.56 ₱ 14,596.94
Withholding Tax Payable- Compensation
Income Tax Payable ₱ 6,064,645.00 ₱ 668,270.16 ₱ 7,262,262.40 ₱ 7,878,396.10 ₱ 8,473,701.65
Total Liabilities ₱ 6,452,245.00 ₱ 1,056,713.23 ₱ 7,650,852.24 ₱ 8,267,132.66 ₱ 8,862,698.59

Owner's Equity
Joe's Capital ₱ 12,370,055.00 ₱ 31,602,360.84 ₱ 45,846,562.60 ₱ 61,235,012.90 ₱ 77,729,030.35
Total Owner's Equity ₱ 12,370,055.00 ₱ 31,602,360.84 ₱ 45,846,562.60 ₱ 61,235,012.90 ₱ 77,729,030.35

Total Liabilities and Owner's Equity ₱ 18,822,300.00 ₱ 32,659,074.07 ₱ 53,497,414.84 ₱ 69,502,145.56 ₱ 86,591,728.94

Depreciation Schedule

DEPRECIATION SCHEDULE
Accumulated Accumulated Accumulated Accumulated Accumulated
Acquisition Depreciable
Depreciation Depreciation Depreciation Depreciation Depreciation
Cost Life
year 1 year 2 year 3 year 4 year 5
Display Case, Shelves and Basket 3000 5 6000 1200 1800 2400 3000
Second Hand Garong 40000 5 8000 1600 24000 32000 40000
Offi ce Supplies 2000 5 400 800 1200 1600 2000
Cashier Machine 13000 5 2600 5200 7800 10400 13000

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