Veggielicious Business Model

Veggielicious sells veggie siomai. Veggie siomai is using direct selling strategy, we have Stall in
Bayanan also we are using social media platform to advertise our product. The Veggie Siomai is like
what other business have, they have many expenses in a long run that may cost so much money
because it’s a business. But in a long run veggie siomai can also have profit. By advertising we can
attract many buyers to buy our product that lead us to have profit. Profit is the main reason to know if
the business is stable. So if we attract many customers we can have it and make our business big
and also successful.

Marketing and Sales Strategy

Veggielicious is in a line of Strategic Marketing Partnerships, because we are just starting so our
business is still small but it can be more complex. We can do collaborate to other business that might
like our product. And just like that our business have a low pricing strategy, we sell our products for
only ₱ 4.00. We sell our product to lower price because we want to show to our customers that they
can eat healthy snack with that kind of price and it have a good quality. Also our business is a direct-
to-customer, it’s our distribution strategy we are still in the beginning to make it big. We want to see
the flow of our business from small to become a big business. We do direct-to-customer because we
have stall that is located in Bayanan. Veggielicious also have page on social media, we are posting it
there so other people who are not around Bayanan but want to buy to us. We have options for them.
We can also deliver it to them we are using a payment methods like a famous payment methods
nowadays. Our business is using Cash on Delivery method and also we have discount payment
terms, we will give them a discount if they will order more than 50 pcs. The discount is the free
delivery, there will be no charge for the delivery if they meet the discount payment terms our business
have. Our business has a market budget, as a small business owner, we have goals and expenses in
our business. We have monthly expenses from the product that we need to make every day and also
the staff’s salary and many more expenses. As an owner I need to know how to handle the money
correctly, so I can distribute the expenses properly and also the profit that our business have.
Regulations/Environmental Issues
Veggielicious, has a staff. The staff of Veggielicious will not going to take the liberty of the staff that
may cause a lot of problems. We have capital for many expenses since we are starting our business.
And also as a business we will take care all the expenses that we will meet. We will give them a
contract, to the contract all the staff rights is written in the contract. In Environmental, we will surely
follow the policy and the law. We will do recycling and also we will going to make sure that we are not
affecting our environment. We will also have a campaign every year for the environment and also for
the staff. Because it will also benefit our business.

Critical Risk Factors

 Veggielicious, is a business that contain risk, all the risk we have right now from economic to
many kind of risk.
 As a business when the economic risk strike. There are a lot of unemployment case around.
As a business we might do that or we might help them to be employed again.
 And when you have staff or you hire a people, there is the compliance risk entering, because
as an employee they have a rights to know their exact time of working hours and also the
 salary we will get and how much the business will pay them if they do overtime. And if the
employee didn’t get the right salary that he is expecting then there’s something wrong, or what
we call corruption, because the owner is corrupting the money of the employee that they work
hard for.
 As a business even if you’re small or big there will be always a security and fraud risk, even
though you’re the most careful person there are a lot of people who are love to do such a
crime to business. That’s why we need security form human security to digital security to give
or spread awareness to all business. And also all the business had its own secret formula. But
there are kind of people who secretly taking that formula to do their own so your business
privacy will turn into ashes. There are more risk that we need to learn when we want to have a
business. And the only thing you need to know is having a business is always taking a risk.
 Financial Risk is one of the risk that business must have. Financial risk enter when there is
something go wrong in the business you have. You might lose something because of many
problems that is happening in your business.
 As a business we have Reputational risk, when you do something that will never erase in
many people mind. When you stain the reputation of the business that you are in, that
company will experience the Reputation risk. You will be suspended or worst fired.
 Many business lost in the market because of unexpected happenings in it. The unexpected
happenings is there will be a hacking on your personal files that might help other people to get
your own designs or what is your next launching product. If this things happen the Operational
risk will enter your business. That’s why we need to be careful on our computers also.
Because they might be hack by someone else
 Competitive risk is the chance that competitive forces will prevent you from achieving a goal. It
is often associated with the risk of declining business revenue or margins due to the actions of
a competitor. The potential for losses due to competitive pressures.