Professional Documents
Culture Documents
In Partial Fullfilment
Submitted to:
Submitted by:
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ACKNOWLEDGEMENT
God is to be praised and thanked to the fullest extent for His favors during this
The proponents would also like to thank the institution, Jesus is Lord Colleges
Foundation, Inc., and the personnel, whose knowledge and expertise were
Mrs. Jinella Marie C. Cardenas, the feasibility study advisor, deserves special
thanks for her assistance. Without her encouragement, patience, and willingness to
see this research through, none of this would have been possible. She also
demonstrated her extensive knowledge of the feasibility study writing process, which
aided the proponents in carrying out the research in the most transparent manner
feasible.
The following individuals also contributed to the completion of this study: the
experts, Mrs. Amor Artiola, MAIP, RPm, and Mr. Edgardo Castro Jr., MBA,
MDiv; and Ms. Rica Mae Collao, CPA, one of the panel members.
The proponents would also like to express their gratitude to the respondents
who participated in answering the questionnaire in order for the proponents to collect
Finally, the proponents would like to show their heartfelt appreciation to their
family and friends for their unwavering moral, financial, and emotional support.
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TABLE OF CONTENTS
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3.9 Product Decision, Product Mix, Product Feature ......................................... 21
3.9.1 Product Decision ................................................................................... 21
3.9.2 Product Mix .......................................................................................... 21
3.9.3 Product Features ................................................................................... 22
3.10 Product Logo ............................................................................................... 23
3.11 Product Decision .......................................................................................... 24
3.12 Distribution Channels.................................................................................. 25
3.13 Marketing Communication Strategies ......................................................... 25
3.13.1 Promotional Objectives ....................................................................... 25
3.13.2 Promotional Tools/Specifications ....................................................... 26
3.13.3 Communication Channel..................................................................... 26
Chapter 4: Technical Study .............................................................................. 27
4.1 Technical Product Description ...................................................................... 27
4.2 Raw Material Requirements ......................................................................... 28
4.3 Manpower Requirements .............................................................................. 28
4.4 Manufacting Overhead .................................................................................. 30
4.5 Manufacturing Process .................................................................................. 30
4.6 Machine Tools and Equipment ..................................................................... 33
4.7 Store Location ............................................................................................... 34
4.8 Store Layout .................................................................................................. 34
4.9 Production Capacity ...................................................................................... 35
4.10 Productio Schedule ...................................................................................... 36
4.11 Waste Disposal ............................................................................................. 39
Chapter 5: Financial Study.............................................................................. 40
5.1 Financial Bases and Assumptions ................................................................. 40
5.2 Source of Finance .......................................................................................... 40
5.3 Unit Cost ........................................................................................................ 41
5.4 Projected Financial Statements..................................................................... 44
5.5 Returm of Investment ....................................................................................51
Chapter 6: Socio-Economic and Environmental Desirabirility .............52
6.1 Contribution to Employment ........................................................................ 52
6.2 Contribution to the Government................................................................... 52
6.3 Contribution to Local Suppliers .................................................................... 53
6.4 Contribution to Environment ....................................................................... 53
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References........................................................................................................... 54
Appendices........................................................................................................... 57
Curriculum Vitae ................................................................................................ 72
LIST OF TABLES
LIST OF FIGURES
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EXECUTIVE SUMMARY
The food industry's revenue has steadily increased throughout the years.
2012, the Philippines food service industry is valued around 360 billion pesos (7.2
billion US dollars), with an annual growth rate of 15% to 20% over the last decades. It
increased to 535.9 billion pesos in 2016 and had reached 637.3 billion pesos in 2020.
This year, 2021, the food industry's income is estimated to be about 656.5 billion pesos.
The purpose of this feasibility study is to test the viability of Oppa Chicken Wings,
an online food serving business based in Bocaue, Bulacan that serves classic Filipino
fried chicken wings combined with Korean-inspired flavors. The company is a limited
partnership with one general partner and four limited partners, each investing 2,000
The main target customers of the business are those who are fond of the Korean
culture and cuisine, having mentioned that the business offers Filipino-Korean Fusion
chicken based dishes. Oppa Chicken Wings has two products: the Oppa Chicken Wings
Rice Bowl, which comes with two chicken wings and a bowl of rice for 79 pesos, and
the Oppa Chicken Wings Platter, which includes six chicken wings for 129 pesos. The
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chicken wings come in three different flavors: classic buffalo, garlic parmesan cheese,
composed of two production days, was conducted. The data collected shows that the
business is able to earn 442 pesos from 13 Rice Bowls sold at 45 pesos unit cost and
2,964 pesos from 76 Platters sold at 90 pesos unit cost, with an income growth rate of
16.67% and 5.41%, respectively. Furthermore, based on this data, 2,883% of the
operation. This feasibility study also includes five-year projected financial statements
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CHAPTER 1
INTRODUCTION
Filipinos have an undeniable love for fried chicken. Fried chicken has become a
go-to "ulam" for most families because of its convenience since some do not have a
kitchen in their homes, and affordability with a pricing range of roughly 10-20 peso
per piece. From the streets to famous fast-food chains and high-end restaurants, fried
This love for fried chicken is said to have begun in 1929, when Ramon Lee, owner
of the legendary Ramon Lee's Panciteria in Santa Cruz, Manila, sold Chinese style fried
chicken to Filipinos. Another story is when Maximo Gimenez started Max's Fried
Chicken in the postwar Philippines in 1945 to sell American meals to soldiers away
from their homes. Finally is the crowd's favorite Chickenjoy by Jollibee, which was
founded in 1978.
One of the reasons why Filipinos can't get enough of chicken, according to CNN
Philippines' Avigail Olarte (2017), is our ability to raise a variety of chickens, including
Native, Broiler, and Layer hens. As a result, the chicken population rose from 162.81
million in 2011 to 178.27 million in 2020 (Statistica, 2021). This provided a chance for
1
As years pass, various distribution channels emerge as a result of events. Some
individuals now engage in selling their products online. Fried chickens are one of those
products sold with the use of the internet. In addition, entrepreneurs take the game to
the next level by experimenting with flavors of fried chicken such as, spicy, teriyaki,
barbeque, and garlic buttered, to mention a few. Selling fried chicken may be
As a result, it benefits the economy since consumer purchases help keep money in the
local economy.
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CHAPTER 2
MANAGEMENT STUDY
This chapter covers management aspects of the business. It explains the business'
discuss the type of ownership utilized by the business. The job description and
MISSION
“We exist to create a strong bond between Filipino and Korean culture, by
budget-friendly meal.”
VISION
“We picture a future where people are linked with one another, real laughter is
shared, and our delicious Filipino-Korean style chicken wings are enjoyed.”
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2.2 THE PROPONENTS/OWNERS
Owners:
All the owners are Fourth Year students of Jesus is Lord Colleges Foundation, Inc.
Christian Gonzales, and four limited partners: Rhey Puaso, Jade Salvador, Ria Tipon,
composed of two or more partners, which has two types, general and limited. A
general partner has unlimited liability for debt, while limited partners are only
limited up to the amount of their investment. The reason behind this is that the
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2.4 BUSINESS AND ORGANIZATIONAL STRUCTURE
Figure 2.1
Figure 2.1 shows that the organization is divided into two parts: General Partner
Christian Gonzales has been part of the marketing department at Jesus is Lord
Colleges Foundation, Inc. He also worked as the head of production at Sinners and
Saints, a clothing line. Having experienced these and as the general partner, Mr.
Jade Salvador graduated as Top 1 of his batch from all three Access Computer
immersion program at Sterling Paper Ent. Inc. and one of his responsibilities at the
company is to keep track of paper cup inventories and deliveries. Mr. Salvador also has
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accounting knowledge because he took accounting courses during his first year of
college.
Ria Tipon had an online business where she sells desserts, manages the
preparation, and is in charge of keeping dishes, workstations, and food storage areas
clean.
Arc Vicente has sold aquarium fish both in the Philippines and overseas. As a
result of needing to deal with both local and foreign clients, Mr. Vicente developed
Job Description:
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● Provide direction and comments to others in order to help them improve their
Job Specifications:
● Keen to details.
Job Description:
● Clients' payments are collected via accepting cash, cheque, or credit card
Job Specifications:
company demands.
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● In order to run a successful store, speed and efficiency are necessary.
Job Description:
● To simplify cooking and dinner presentation, the kitchen staff arrives early to
● The kitchen crew is in charge of keeping all parts of the kitchen, including food
Job Specifications:
Job Description:
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● Come up with promotional strategies to attract customers.
Job Specifications:
● Familiarity with social media platforms that will be utilized by the business in
Job Description:
Job Specifications:
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2.6 COMPENSATION
Table 2.1
Salary
The minimum wage for non-agricultural enterprises with less than 10 workers is
₱413 per day, according to the new Wage Order RB III-22 of the Department of Labor
and Employment's (DOLE). This applies to minimum wage earners in the provinces of
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Every week, there will be two production days: Wednesday and Sunday.
Therefore, as shown in Table 1, each worker earns ₱1,600 every month, which is
equivalent to 8 production days. The annual salary for each worker is ₱19,200.
The owners are the primary source of manpower. It is done because they are well-
versed in the overall operation of the business. As a result, training costs will be
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CHAPTER 3
MARKET STUDY
information on the product, target market, and the pricing decision. An analysis of the
supply and demand is also included, as well as the forces that influence them. This also
channels.
Oppa Chicken Wings are made from fresh chicken wings that have been coated
with flour and powdered spices to give them the delicious taste of fried chicken wings,
then deep fried to ensure a crunchy texture. One serving of Oppa Chicken Wings Rice
Bowl comes with two chicken wings and a bowl of rice, while a serving of Oppa Chicken
Wings Platter consists of six chicken wings. Our goal is to provide the market with
The chicken wings will be available in three different flavors: Garlic Parmesan
Cheese, Buffalo, and Honey Garlic. The specifications for each flavor of chicken wings
are as follows:
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Classic Buffalo
The buffalo wing sauce is one of the most popular sauces for chicken wings. Our
very special Buffalo wing sauce is simply spicy sauce combined with melted butter. It's
impossible to say "no" to such concoction. When our spicy sauce isn't hot enough, a
sprinkle of ground red pepper or cayenne red pepper will be added. Customers will
have the freedom to choose from different levels of spiciness from pepper mild,
Medium, Hot, and Extra Hot. The first burst of heat comes from the spicy sauce, while
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For a traditional coating, we throw our chicken wings in a mixture of melted
butter, garlic, and grated Parmesan cheese. By soaking and marinating the chicken
wings itself in the garlic and melted butter and then putting some coating in it, you can
have the taste of one of our most flavorful chicken wings. Drizzle them with melted
butter and sprinkle them with minced fresh garlic and a coating of grated parmesan
cheese once they’re cooked through and the coating is indeed very crispy.
Honey Garlic
We are definitely talking about our crispy outsides and soft insides of roasted
chicken wings coated in a sweet and salty honey garlic glaze. Our very tasty baked
honey garlic chicken wings are covered in a sticky honey garlic sauce after being baked
till crispy. It's simple to change the recipe to make the wings milder or to give them a
Oppa Chicken Wings offers a variety of flavors that aims to satisfy the cravings of
different people. One of the best benefits that consumers can get from Oppa Chicken
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Wings is the delicious chicken wings served at an affordable price. Our rice bowl is
available for 79 pesos, and the platter for 129 pesos. Another benefit one can get from
the product is the cheap delivery fee which will only cost the customer an additional
P15 per order, while they get to enjoy Oppa Chicken Wings at the comfort of their
homes.
The main target market of Oppa Chicken Wings are the young adults who are
residing in the Municipality of Bocaue in the province of Bulacan, both male and
female and are avid fans of Korean Cuisine, Korean pop (K-pop) and Korean dramas
(K-dramas) since the product and the business itself is inspired by Korean Cuisine.
People who like to eat flavored chicken wings and fried chicken, whether student,
chicken, which has led to the popularity of fried chicken wings, especially with the
consumed around 1.66 million metric tons of chicken meat as of January 2021.
(Statistica, 2021).
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Figure 3.1
As Figure 3.1 shows, 96.8 percent, or 447 out of 462 Bocaue, Bulacan residents,
are willing to try our product. This suggests that Oppa Chicken Wings have a market.
According to the Philippine Statistics Authority (2020), Bulacan was the top
liveweight. This was followed by Pampanga with 164.48 thousand metric tons,
liveweight, and Nueva Ecija with 112.08 thousand metric tons, liveweight. Completing
Oriental, Quezon, Cebu, Rizal and Bukidnon. The combined output of these top ten
producing provinces accounted for 56.3 percent of the country’s total chicken
since our product's main raw material is chicken wings, our business will less likely be
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short in supply. Relatively, Bernard Francisco Chicken Farm, located in Marilao,
Bulacan, is our main supplier, while Saint Martin Poultry Supply, located in Bocaue,
Bulacan, is our backup source in the event of a supply shortage with our primary
supplier.
The availability of chickens that are being produced and raised in the Philippines
offers a huge opportunity for Oppa Chicken Wings to meet the demand of our target
market.
Supply and demand are dependent on certain elements that may affect
production. The following are the forces that may influence the demand and supply:
the 2015 census that those aged 15 to 64 or the economically active population
and actual or potential labor force members, account for 65.56 percent (78,458)
P265,215,501.14 annual regular revenue of Bocaue for the fiscal year of 2016.
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3.7.2 ECONOMIC ENVIRONMENT
At the present time, people prioritize their daily budget on dishes that
provide them with enough food for breakfast, lunch, and dinner because of the
neglected by our target market because people save as much budget as they can.
the typhoon belt in the Pacific and is visited by an average of 20 Typhoons every
year and most barangays in Bocaue are often flooded when there's a storm or
heavy rain. There is a chance flood can cause our delivery service to be late or even
fail to be delivered.
more manpower. This may cause production delays if there are additional
that there will be an increase in numbers of vaccinated residents and it can result
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in easing of community quarantine. In addition, the fear of people from the virus
will moderately decrease and there will be a chance of receiving more orders.
are all facing right now because the customer’s buying power also has the
tendency to decline. Their main choice is to cook a dish for the whole family while
Savory, delicious, appealing chicken you would never forget, none other than
The research will be held in a 6 months span, from November 2021- April 2022.
mentioned above.
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○ 1st 20 customers that can present our signatured leaflet and brochure
in the day of opening of our business are granted to have 20% discount
● (10th week) Posting promotional materials such as lucky sharer reward of our
social media accounts in social media platforms to get free meals during the
● (12th week) Purchasing of raw materials and preparation for the first week of
previous weeks.
3 months of operation
● (1st week) Opening Promo, first 20 orders get 20% discount for their total
● (4th week) Delivery promo: we are going to offer free delivery services for
minimum orders of 2 for the customer that can present receipts of all the 3
● (8th week) Free collectible mug promo. Collect 10 receipts from Oppa Chicken
● (12th week) Celebration of 3rd month of operation. Purchase 2 orders and get
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All of the mentioned activities to boost the sale and introduction of the business
should be followed strictly to the set due date during the implementation period.
Filipinos admire the Korean culture, Korean cuisine, Korean pop (K-Pop), and
Korean Drama ( K-Drama), and that became an open opportunity for the
have the ability to raise and grow a wide range of chicken varieties resulting in
with 200g of rice as a complete meal and sold it in the online market. The product
comes with 3 delicious flavors which are, Classic Buffalo, Honey Garlic, and Garlic
parmesan Cheese
Price: Oppa Chicken Wings set the selling price of the product to P79.
The business considers the pricing of its competitors in the market which helps
in deciding the price that fits to its product that makes it competitive in the
market.
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Place: The manufacturing headquarters of Oppa chicken wings is
but due to pandemic, Oppa Chicken wings will penetrate the online market to
introduce and market their product in a wide range of customers. The business
sees that social media platforms present many opportunities that could help the
much opportunity that helps a business grow faster and reach more customers
promoting the business while satisfying the cravings of its prospect customers.
Another promotional strategy that the business uses is the Promo and Freebies
strategy to attract and gain the attention of the masses to try their product.
The business offers a variety of flavors that people can choose from, from
salty, to spicy and so many to choose from. The business also offers promos such
as buy 2 to get discounts, freebies such as collectible mugs , discounts and delivery
promo such as coupons, receipt exchange and so many more for their customers
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3.10 PRODUCT LOGO
Business Name
inspiration for the business name Oppa Chicken Wings. The Korean Word Oppa (오빠)
is used to address an older male friend, even if he is not your older brother by blood.
Filipinos fell in love with Korean culture, when K-dramas first arrived in the
Philippines in the early 2000s. In fact, according to a TNS Global research on "Filipino
Perception of Korea and the Koreans," Korean culture is one of the top three cultures
that Filipinos are captivated by, alongside American and Japanese cultures.
Furthermore, the Korea Foundation discovered in a 2018 study of 113 countries that
the Philippines has the highest rate of hallyu fan growth (GMA Network, 2020).
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Design
Oppa Chicken Wings uses a chicken illustration mascot logo. This is a type of logo
attributes is used (Pop, 2020). Famous fast-food chains such as KFC and Jollibee have
Color
Red is the primary color used in the Oppa Chicken Wings logo. It is due to the
popular belief that red encourages people's appetites as it is stimulating, exciting, and
associated with activity (Harrington, 2015). We also used Red as the primary color of
our logo as it is the best color that can easily attract the attention of the masses just
like how McDonalds, Jollibee Food Corp. use the psychological effects of the color in
The Business uses Cost Plus Pricing as one of its pricing strategies in deciding the
selling price of the product. Adding up all the cost in producing each unit of product
and adding the mark up price will determine the selling price of Oppa Chicken Wings.
To further view the detailed Breakdown of Cost per unit, please see Chapter 5
Competitive Pricing. Competitive pricing is the pricing strategy where one entity
will set the product price in line with the price range of the competition. We consider
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the price of our competitors in the market to be able to come up at a price wherein we
can deliver a budget friendly meal and be competitive at the same time.
Oppa Chicken Wings’ distribution channel is Online Selling. The product will be
Instagram and others. Orders are taken from inquiries in these social media sites, and
The following are the objectives of Oppa Chicken Wings in expanding their
market reach, expanding their digital presence and to build Brand awareness.
First is to expand and aggressively use social media platforms to market and
promote the product. It is one of the easiest and fastest ways to reach a larger
market wherein it is free and 1 click away to reach a whole potential market. Since
most of the people that are using social media frequently during this pandemic
are teenagers to young adults, social media marketing and promotion is one of the
best ways to reach this group of people and make them aware of the business and
product.
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The second objective is to build brand awareness of the product and the
business. By maximizing the social media presence of the business, it can make
the audiences aware and knowledgeable about the product wherein it can create
curiosity and the urge to try the product, another way to build brand awareness is
the business in a wider audiences through the use of their platforms with a lot of
We will be taking advantage of the free use of social media such as facebook,
instagram, tiktok to advertise and market our product. The following social media
are the most used social media platforms these days. That's why using them will
be so helpful in offering our product to the customers. Using those platforms will
also be easier for the business and the customers to have an interaction with each
interact with prospective customers through direct messages online like emails,
chat messages, text messages and even through phone calls. Through the use of
the following social media platforms earlier, we can have an instant and easy
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CHAPTER 4
TECHNICAL STUDY
This chapter discusses the overall production process of the business. It also
covers the labor requirements, manufacturing overhead, and the machineries and
equipment used to transform raw materials into finished goods. To better demonstrate
the procedure, the location and layout of the operating site are displayed. The
manufacturing capacity and timetable are also presented using tables. Finally, the
Oppa Chicken Wings are made with fresh 45-day old medium sized chicken wings.
Each wing undergoes three stages: preparation, cooking, and packing. Cleaning and
washing are part of the preparation phase to ensure that no unplucked feathers or dirt
remain. Following the first step in the preparation, marinating and storing the chicken
wings will be the next step to add flavor and tenderize the tough meat. The second
stage is the cooking process. This includes the batter and breading of the chicken
wings to insulate the food underneath and protect it from direct heat exposure. To
ensure the crunchiness, the chicken wings will undergo deep frying and straining of
excess oil. Then the flavors will be added. As mentioned in the previous chapter, the
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chicken wings come in three (3) flavors: Garlic Parmesan Cheese, Classic Buffalo, and
Honey Garlic. Finally, the chicken wings are packed in a paper container.
The following are the raw materials needed to make Oppa Chicken Wings:
● ¼ kilo of Flour
● ⅛ pack of Cornstarch
● Marinating Condiments
● Bowl
● Flavoring Ingredients
● Stickers
One person is in charge of purchasing the raw materials. This will include both physical
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Preparation
The preparation stage will be assigned to one person. Cleaning and washing will be
part of this process. After making sure that no residue remains on the chicken wings,
both individuals will have to marinate the chicken, then refrigerate it.
Production
The production process will be overseen by two people: one from the production
stage and one from the preparation stage. This is done to keep the chicken from being
include battering and breading the chicken wings, then deep frying, straining, adding
Delivery
The delivery will be handled by one person. The distribution of orders to the
All the promotional and marketing activities, communication with the customers,
management of the social media pages, and taking of orders are handled by two
individuals. This is to ensure the responsiveness of the business with every inquiry and
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4.4 MANUFACTURING OVERHEAD
The following are the indirect costs incurred to complete the production process:
Gas
Since the majority of the production process focuses on cooking, gas will be
required.
Water
Part of ensuring the hygiene of the chicken wings, other ingredients, and
machinery and equipment is cleaning and washing, which will require water.
Other processes, such as batter preparation, will also necessitate the usage of
water.
Electricity
To maintain their quality and freshness, the chicken wings will need to
be refrigerated.
The first step of the process is to ensure that all of the necessary ingredients are
ready and that their measurements, such as weight and portion size, are correct.
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Cleaning and Washing
After preparing all of the ingredients, the next step is to clean and wash them
along with the machinery and equipment to be used. This is done to ensure that the
Marinating
Once the chicken wings and other raw materials, as well as the machine and
guarantee that the tastes are absorbed by the chicken wings should be done using
Storing
The marinated chicken wings are then refrigerated to maintain their freshness
and quality.
Before frying the marinated chicken wings, they must first be dipped in a beaten
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Deep Frying
The chicken wings will be pre-fried after they have been cleaned, marinated, and
breaded. Then, a second frying is required to ensure that the heat is distributed
evenly on the chicken wings and that they have a crispy texture.
The chicken wings will be strained to remove any extra oil. That way Oppa
Adding of Flavors
Once the extra oil has been removed, it is time to spice things up by adding flavors
on the chicken wings. Oppa Chicken Wings are offered in three flavors: Garlic
Packaging
The final step in the manufacturing process is packaging. Oppa Chicken Wings
Rice Bowls are served in a biodegradable paper bowl, which is both cost-efficient and
environment friendly. On the other hand, the Oppa Chicken Wings Platters come in a
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4.6 MACHINE TOOLS AND EQUIPMENT
The following are the required machine tools and equipment from the preparation to
● Saute Pan/Cauldron
● Tongs
● Spatula
● Measuring Spoons
● Bowl
● Gas Stove
● Refrigerator
● Plate
● Strainer
● Tray
● Knives
● Cutting Board
● Scissor
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4.7 STORE LOCATION
The chicken wings are prepared and produced at 2406 Villa Veronica Subdivision,
Lolomboy, Bocaue, Bulacan. This is also where the products are picked up, then
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4.9 PRODUCTION CAPACITY
Table 4.1
CONVERSION TABLE
Kilo to Pieces
1 kilo 16 pieces
Kilos to Servings
Table 4.1 shows that, in a week, 10 kilos of chicken wings will be purchased,
prepared and fried. For every kilogram, there are around 16 pieces of chicken wings.
Hence, there are 160 pieces of chicken wings produced every week.
In terms of serving, the number of chicken wings produced will be divided by 40%
for Oppa Chicken Wings Rice Bowl and another 60% for Oppa Chicken Wings Platter.
35
Therefore, there are 32 servings of Oppa Chicken Wings Rice Bowls, and 16 servings
The production schedule is divided into two production days every week:
Wednesday and Sunday. This provides the proponents time to purchase and prepare
the raw materials. Below are the standard production schedule weekly, monthly and
yearly.
Table 4.2
Weekly Basis
1st
16 8 24
Production
2nd
16 8 24
Production
Total
32 16 48
Servings
36
For each production day, 16 servings of Oppa Chicken Wings Rice Bowls and 8
servings of Oppa Chicken Wings Platters are produced. In total 48 products are served
Table 4.3
Monthly Basis
Total Products
Total
37
Table 4.4
Yearly Basis
Total Products
Total
Table 4.3 and 4.4 shows that the standard production for each month is 128 rice
bowls and 64 platters, making up 1,536 servings of rice bowl and 768 servings of platter
in a year, or 2,304 total products served. For 5 years, the business is expected to have
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4.11 WASTE DISPOSAL
Cooking oil is the largest source of waste in the business. To reduce it, 1.5 liters of
oil will be used for every production day. This will suffice for deep frying the chicken.
The oil is absorbed by the chicken breading over time. As a result, towards the end of
39
CHAPTER 5
FINANCIAL STUDY
profitability and viability. This covers the financial aspect of the business including the
A one-week soft-opening was held to test the profitability of the business. This
allows the researchers to collect data based on actual production. All the data,
The main source of capital is from the personal investments of 2,000 pesos from
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5.3 Unit Cost
Table 5.1
Unit Cost
Direct Materials
Flavored Chicken 387,941.1
Packaging 21,072.0
Rice 41,004.9
Total Direct Materials 450,018.0
Factory Overhead
Utilities 38,400.0
Depreciation 7,559.0
Total Factory Overhead 45,959.0
Direct Labor 158,512.0
Total Production Cost 654,489.0
Unit Cost
Rice Bowl 45
Platter 90
41
Table 5.2
42
Rice Bowl Unit Cost
Formula: x + y = Rice Bowl Unit Cost
where:
x = 30
y = Rice Bowl Unit Cost (Rice)
y = Cost of Rice/Rice Bowl Annual Production Capacity
y = 41,004.9/2,797
y = 14.66 ≈ 15
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5.4 Projected Financial Statements
Table 5.3
44
Table 5.4
45
Table 5.5
46
Table 5.6
47
Table 5.7
48
49
50
5.5 Return of Investment
Table 5.8
Return of Investments
received in the first year of its operation with the net income of 288,359 pesos and at
51
CHAPTER 6
This chapter talks about the benefits of the business on the socio-economic and
environmental level. It covers the significance of Oppa Chicken Wings to four aspects:
Since workers are not required to have a high level of education, Oppa Chicken
Wings will be able to provide a large number of job opportunities as the company
grows.It is both beneficial for the individual, as it will give a way of making money and
having greater buying power, and economy as it will help to circulate money in the
economy.
contribute to the government in the form of taxes. The tax payment would benefit the
locals as it may be used for the development of the country, such as construction of
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6.3 CONTRIBUTION TO LOCAL SUPPLIERS
In line with its mission, one of the goals of the business is to promote local
suppliers by patronizing them. As a result, Oppa Chicken Wings will acquire raw
materials from local markets. This is advantageous for the business as it will be cost-
efficient, and to the supplier since our purchases help them increase their sales.
The company supports the environment by needing raw materials such as flour
and cornstarch, since farmers will continue to cultivate their crops. As a result, fields
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REFERENCES:
https://www.adrc.asia/nationinformation.php?NationCode=608&Lang=en
https://www.betterteam.com/cashier-job-description
• Department of Labor and Employment. (2020, January 3). Region III (Central
https://nwpc.dole.gov.ph/regionandwages/region-iii-central-
luzon/?fbclid=IwAR0QVq2Vv4xuwBrvkupC4lW_X54_J3nxnPjIRb-
PQYwx9hbCy-BP9pp-c0A
https://www.glassdoor.com/Job-Descriptions/Cashier.htm
• Harrington, R. (2015, October 1). Here's why all fast-food signs are red.
red-2015-9
https://www.ifexphilippines.com/en/General-Info/Philippine-Food-
Industry?fbclid=IwAR0jIWT2X1c3_6fmKnWhqWv1mDYHFRO8a8WacAyKA
BaI_B20n8-CN1-_-3E
• Kim J. (2007, September 1). Why Does Hallyu Matter? The Significance of the
https://journals.sagepub.com/doi/abs/10.7227/CST.2.2.6?journalCode=csta
54
• Lee, A., Tupas, V. (2020, October 22). Here's how Filipinos have grown to love
https://www.gmanetwork.com/news/lifestyle/food/760977/explaining-the-
filipinos-k-foodies-phenomenon/story/
from
https://psa.gov.ph/sites/default/files/3_SR%20Chicken%20Annual%20Situa
tion%20Report_signed.pdf
• Masigan, A.J. (2019, June 16). Numbers Don't Lie. Retrieved from
https://www.bworldonline.com/trends-in-the-food-
industry/?fbclid=IwAR2vk4d_y7Yc-CPIM9jwdhOJbXy-NV0pu-
Up5X8F3eV04ChZxtGha8Ei9oY
• Medrano, F. (2019, July 17). Curious About the Delicious World of Filipino
https://scoutmagazine.ca/2019/07/17/curious-about-the-delicious-world-of-
filipino-fried-chicken-heres-a-great-place-to-start/
flu-Philippines.html
https://www.philatlas.com/luzon/r03/bulacan/bocaue.html
• Pop, A.M. (2020, December 3). 7 Types of Logos to Inspire Your Next Design.
your-next-design/
55
• Statistica. (2021, October 6). Total domestic volume of chicken meat
from https://www.statista.com/statistics/1170387/philippines-domestic-
consumption-of-chicken-meat/
https://www.statista.com/statistics/661211/philippines-chicken-production/
https://www.investopedia.com/terms/l/limitedpartnership.asp
• Winarno, F.G. (2017, March 21). Street food in Asia: An industry that is much
https://th.boell.org/en/2017/03/21/street-food-asia-industry-much-better-
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• ZenRooms. (2021, October 6). 25 Romantic Korean Words That Will Come in
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56
APPENDICES
Appendix B: Formulas
Appendix C: Questionnaire
● Hallyu - is also known as the "korean wave," and is used in relation to numerous
Appendix B: Formulas
● Return of Investment
57
● Rice Bowl Unit Cost
where:
x = 30 pesos
where:
The variable “x” represents the cost of two chicken wings in a serving.
Appendix C: Questionnaire
Respondent’s Profile
● Name (Optional)
58
● Sex
- Female
- Male
● Age
- 61 and above
● Civil Status
- Single
- Married
- Widow
- Widower
● Occupation
- Student
- Employee
59
- Business Owner
- Other: _______
Product/Quality
- Yes
- No
- Yes
- No
- Classic Buffalo
- Honey Garlic
- Garlic Parmesan
- Barbeque
- Sweet Chili
- Other: __________
60
● What are your considerations in buying fried chicken wings?
- Packaging
- Taste
- Quality
- Flavors
- Price
- Other: ____________
- Taste of flavor
- Health benefits
- Other: ___________
● Are you willing to try our Oppa Chicken Wings Rice Bowl?
- Yes
- No
Location:
● Address (Barangay)
- Antipona
61
- Bagumbayan
- Bambang
- Batia
- Biñang 1st
- Biñang 2nd
- Bolacan
- Bundukan
- Bunlo
- Caingin
- Duhat
- Igulot
- Lolomboy
- Poblacion
- Sulucan
- Taal
- Tambobong
- Turo
- Wakas
62
- Tabo
- SamG To Go
- On the Wings
- Yumgyeopsal
- Other: __________
- Yes
- No
Price/Purchasing Power:
● Monthly Income/Allowance
- P5,001 - P9,999
- P10,000 - P29,999
- Once a week
- Twice a week
- Twice a month
63
- Once every 3 months
- Other: ___________
week?
- 1 kilogram
- 2 kilograms
- 3 kilograms
- 4 kilograms
● How much are you willing to pay for a flavored fried chicken wing? (1 order is
- P50 - P60
- P65 - P75
- P80 - P90
- P95 - P100
64
Delivery System:
● How much are you willing to pay for the delivery fee?
- P10 - P15
- P16 - P20
- P21 - P25
- 10 minutes
- 20 minutes
- 30 minutes
- E-wallet
- Cash on Delivery
65
Appendix D: Validation Forms of Questionnaire
66
67
68
● Validated by Mrs. Amor Artiola, MAIP, RPm
69
70
71
CURRICULUM VITAE
72
73
74
75
76