Product/s: Malunggay Siomai

Benefit and Feature:

Benefit:

· Healthy

· Rich in vitamin B, C, D and E.

· High in Protein

Feature:

· Made of fish

· Appetizing

· Taste like traditional Siomai

Location: Taft Avenue, Manila Philippines

Target Market: 25-60 yrs old, Vegetarian people, SHS and College students, working
professionals, Muslim people

Name and Addresses of Business Owners/Entrepreneurs

Asahan, Mark Erron - 2369 Agua Marina st, San Andres Bukid, Manila

Bautista, Hazel - 349 A. Coral St. Tondo, Manila

Bongcaras, Jericho - 33 Balicanta St. San Roque 2, Bagong Pag-asa, Qc.

Cruz, Gabriel E. - Blk 9 Lot 6 Apricot St. Phase 2 Summer Pointe Country Homes, Daang Hari,
Imus, Cavite

Cubian, Carl Patrick - Gate 1 Sta. Theresa Barangay Sto. Niño Parañaque City

Cuevas, Stephanie - Blk 1 Lot 1 Saint Louie Village Talon Tres Las Pinas City, 1747

Ecija, Maria Angelica - 31 Sampaguita Street, East Bagong Barrio, Caloocan City

Lacanilao, Alexandra Liz B. - 31 Ironbark St. Woodestate Village 2, Molino 3 Bacoor City,
Cavite

Mendoza, Wayne Steven D. - 0012 Bagong Silang St Malhacan Meycauayan Bulacan

Robertson, Christene Joy C.– 062 Ph1 Parksite, Bayan-bayanan, San Vicente, San Pedro,
Laguna

Santiago, Aiesleigh - 511 General Hizon St. Bangkal, Makati City

Nature of Business

· Product base - Food

Form of Ownership

· Partnership

Size of Business

· Micro

Statement of Financing Needs in Table

(Explanation of how much capital you will have and why?)

 PRODUCTION COST

Quantity/Unit Particulars Unit Cost Total

Raw Materials
3kg Lady Fish 80.00 240.00
10 pcs Eggs 6.00 60.00
1 bun Malunggay 60.00 60.00
Pechay
10 bun 20.00 200.00
Tagalog
Equipment
1 pc Gas Stove 1500.00 1500.00
1 pc Steamer 300.00 300.00

Stall
1 pc Table 700.00 700.00

1 pc Tarpaulin 400.00 400.00

1 lot Art Materials 500.00 500.00

Total Cost: 3960.00

The ideal capital that our business needs is less than fifty-thousand pesos. Our main product is
Siomai and it doesn't require so much capital since the ingredients for Siomai are cheap. The
equipment and tools that we need in order to create our product are also not expensive. We can
utilize existing equipment in our homes like steamers and gas stoves, so we won't need to spend
money to purchase the same equipment only if there’s any. We might also spend on retail space
if there's no free space available for our business
II. Executive Summary
Show My Lunggay (Siomai Malunggay) is a new organic light meal, snack, and appetizer made
with specific malunggay and fish ingredients. Show My Lunggay (Siomai Malunggay) We will
begin producing our product on a small stall in front of the Technological University of the
Philippines, and we will be able to accept orders through the online. It will be managed and
owned by ten student entrepreneurs located in San Marcelino St. Ermita, Manila.
Our main goal is to focus on making Siomai, which we call Show My Lunggay (Siomai
Malunggay), and we will definitely add other varieties once we done expanded it and  when we
have already earned enough, at which point we will start to come up with a new strategy that can
be added to encourage people to buy our new product again. The advantage to us of doing
business is that we observe that the area where we will sell our product is highly trafficked and
will be convenient to anyone passing by San Marcelino St. and will be easily accessible to all
residents and students of the community, and our product is not only healthy because it can be
purchased by anyone due of the low-cost. Show My Lunggay (Siomai Malunggay) takes
pleasure in providing excellent customer service, and we will pay closer attention to each siomai
that we sell or provide to the customer who purchases our product in order to avoid unpleasant
incidents or complaints.
Our group has already created a brand name that will be remembered by anyone, and we want to
begin our journey in San Marcelino St., where we also serve delicious custom-made-to-order
siomai. Our strong work ethic and good reputation serve as a foundation for the success of our
product which is Show My Lunggay (Siomai Malunggay) and for the success of each of us
individually. The problem that our business will solve is breaking the socio-cultural barriers
because our main ingredients consist of certain vegetables with fish that are not usually used in
making Siomai. We understand that certain people of our community refrain from eating pork
due to religious beliefs.
Aside from that, our version of siomai is made of Malunggay which is well known for its
benefits aside from helping in eyesight improvement, this could also do wonders when it comes
to enhancing the skin’s appearance. Other vitamins that it contains include Vitamin B, C, D, and
E. It also strengthens the immune system, better calcium absorption, and improved motor skills.
Malnutrition and Micronutrient Deficiency are some of the problems that our business can solve.
As previously stated, Malunggay has lots of benefits and advantages. It contains different
vitamins that can strengthen the immune system of our customers. Our product also aims to help
our customers to afford access to a healthy product at a cheaper price.
Mission
To provide healthy food and innovative product at reasonable costs and promote excellence in
customer service.

Vision
To be known as the leading provider of exceptional products and to be recognizable by product
quality standards; and to be consistent in promoting excellence, novelty, and future development.
Objectives

 Team Development

The future of our business depends heavily on our individual and collaborative performance. To
keep up with the competition, we will focus on learning new skills that we can employ in our
business. To accomplish that, we will participate in a leadership summit and attend seminars or
training that can help us on implementing the knowledge that we may possibly learn.

 Best product

We are committed to providing excellent products for our customers, this requires utmost effort
in developing the product they deserve. To do that, we will only invest in high-quality raw
materials and quality machinery. We will also implement Quality Management System that will
allow us to meet customer requirements and regulatory standards as well as prevent errors, and
continuously improve our product offering. Lastly, we will perform product testing, which
allows us to see how our product performs in the real world, ensuring that our product
(Malunggay Siomai) reflects the quality, usability, and efficiency we desire.

 Customer Acquisition

Our goal as a startup is to find our first customer, we plan to do content marketing and publish
advertisements through social media platforms. We will also perform market segmentation to
help us define our target audience in a more detailed way.

 Revenue Growth

Our business aims to expand if there’s a chance that it can prosper inside the competitive market.
We intend to grow our annual revenue in the next three years to 1,500,000 million pesos through
new customer acquisitions, adding new branches, franchising opportunities, creating new
products, hiring more employees, and potential partnerships.
Purpose of Business Plan

This business plan is intended to outline the start-up of the business known as Show My
Lunggay (Siomai Malunggay). The business plan has a two-fold mission. The first is to gain
profit and the other purpose is to define who, what, where, when, and how our business will
operate. This is important to define so that our business will obtain a clear-cut plan and
operations map.

Market Description
This business will be temporarily administered in Metro Manila specifically in front of
Technological University of the Philippines, which is located in Ermita, Manila, and has the
following address: HXPM+RW7, Ayala Blvd., corner San Marcelino St., Ermita Manila 1000.
We all know as a business owner or planning to start a business that the most important thing or
crucial factor is the location to be able to start immediately in the business that we want to fulfill
and be successful. We chose the temporary location in front of the TUP school as one of our
good starts once we have produced our product because it is frequently passed by a large number
of people.
This will be a significant benefit to us since, first and foremost, we have a large number of
potential customers such as students, teachers, laborers, professional workers, passers-by, senior
citizens, health-conscious individuals, muslim people and many more specially to those looking
for a low-cost food.
The population of the Technological University of the Philippines - Manila is highly educated,
overworked, and extremely stressed. Many of these people treasure any free time they have to go
out and get food away from campus or just simply pass by.
The majority of them prefer less expensive foods than those found inside the mall. It is also very
convenient for them because they do not have to queue or wait for a long time before they can
eat. Some of them are also in a hurry, so food service would be extremely beneficial to them in
terms of time management. Also, the majority of our target market so frugal, and the food we
provide is very affordable. As a result, having this type of business pick up and drop off their
food is a huge draw.
Show My Lunggay aims to serve the customers a newer and a more organic variant of the said
famous streetfood. According to an article posted by Salazar (2007), Philippines is one one of the
countries who consumes meat quickly, and they have predicted that there are 30% annual growth
rate on consuming pork, chicken, and beef from 2011 to 2012.
In line with this, the Philippines is also one of the countries that has a low vegetable consumption
as of 2021. Dim sum, or known as Siomai, is a street food mainly made of meat, oftentimes
putting shredded carrots and onions to taste. However, we aim to sell a healthier alternative of
this famous street food by putting fish instead of the traditional pork meat, and adding
malunggay to it, because many essential nutrients (Fahey, 2005; Hsu et al., 2006; Kasolo et al.,
2010). And we aim to sell our product to our target market in order to provide a healthier, yet
tasty alternative than the usual siomai they buy.

Competition
When most people hear the word siomai, they don't think twice because it's a common
occurrence in our culture. However, no other product on the market compares to what we've
envisaged or will produce. Our product is very unique than the other siomai business owners.
Many people are familiar with regular siomai, but our product stands out since it is both
nutritional and inexpensive. Show My Lunggay is a siomai created with horseradish or moringa,
lady fish, and Molo Wrapper that we named.
This product can only be obtained at a low cost, and we may match our competitors' prices, but
the only distinction is that our product is cheaper than our competitors, because we expect that
many people are looking for cheap or affordable food and this is one of the products we
considered because we know that everybody can afford it.
Our competitors will be first and foremost the vendors or popularly known as “Siomai Rice”,
which has captured the attention of many people and can also be found in front of the school, and
our other competitor located in Metro Manila is Siomai King, Master Siomai, Siomai House, and
many more, we know it will not be easy to us because we will have a lot of brand competitors
when it comes to siomai as well as a large number of competing business owners .
Show My Lunggay is a healthy product because of the Moringa of it and it breaks the socio-
cultural barrier because of the one ingredient the "ladyfish". It will supply our target market with
a nutritious, healthy, and economical siomai that everyone will certainly like. Our product is
suitable and adaptable for anybody, regardless of what religion you are. Students, teachers,
professional workers, laborers, Muslims, and others are among our target market.
We will offer our distinctive healthy siomai to them by providing quality service and product
satisfaction in every bite. Specifically, the market will be consistent in terms of their ability to
pay and means of going out or taking a break. However, individuals become tired and change
their lifestyles because others become more concerned of their bodies, such as counting calories
and maintaining good health, and this is how we have evolved a siomai to healthy and nutritious
food.

Nowadays, many individuals expect high-quality and quick services because we all value our
time and don't want to waste it by waiting too long that’s why we want to ensure that the
customers’ needs and wants are satisfied. Our product isn't simply about food or how much
money we earn, because the most essential thing to us is to help others because “WE VALUED
YOUR TIME AND WE CARE ABOUT YOUR HEALTH.” Our product is very flexible to
anyone, and we can offer a delivery service if you want to stay or relax at your home we believe
this has given us a competitive advantage over other businesses similar to ours.
We as an entrepreneur student, to establish a business, we recognize that we are not the only
ones capable of creating product innovation, especially in this day and age where everyone is
gambling to have a decent life and a business. However, the only person that succeeds is the one
who never gets tired or gives up because they are motivated and determined to overcome any
obstacles or problems. Our product is a new innovation since no one has yet made or created a
business like this sort of siomai that we call “Malunggay Siomai.” If our product or business is
successful, we will be able or possible to produce numerous varieties.
Planning and starting a business are not easy for everyone since you never know when you're
taking a risk whether if your investment will pay off or if you'll make profit, so there's no
guarantee in anything. Only when you are willing and confident in yourself, no matter what
happens, does everything become certain. Because every entrepreneur fails at first, but they do
not hesitate to give up on what they want to achieve, all we need is belief, perseverance,
determination, and courage. Because we are all competing to achieve our goals for our families
and ourselves, and when we succeed, we become the root of new product innovation and because
of that we can help our economy, society, and communities.

Snapshot Of Growth Potential

The following graph outlines the pro forma financial projections for Show My Lunggay
(Siomai Malunggay):

Chart Title
2,500,000 70.00%

68.00%
2,000,000

66.00%
1,500,000
64.00%
1,000,000
62.00%

500,000
60.00%

0 58.00%
2023 2024 2025

Sales Gross Margin (%)

This chart shows that the highest sales were recorded in 2025 with over 2,000,000 pesos
and the gross margin slightly grows by over 4% from 2023 to 2025.
Overview of Funding Requirements
 Show My Lunggay (Siomai Malunggay) is seeking less than fifty-thousand pesos
capital to open our start-up food stall business. The funding will be dedicated to the cooking
ingredients, equipment, and stall. The breakout of the funding is below:

RAW MATERIALS (DAILY EXPENSES)

Particulars Quantity/Unit Unit Cost Total
Salt 1 sachet 10.00 10.00
Spring Onion 1 bundle 10.00 10.00
Soy Sauce 385 ml (2pcs.) 30.00 60.00
Malunggay 1 bun 20.00 20.00
Carrots 1/2 kilo 80.00 80.00
Onion 5pcs. 5.00 25.00
Liquid Seasoning 250ml 100.00 100.00
Ground Pepper 10pcs sachet 10.00 10.00
Chili 1/4 kilo 100.00 100.00
Fried Garlic 250 grams 50.00 50.00
Calamansi 1/2 kilo 50.00 50.00
Molo Wrapper 15 packs (50pcs/pack) 30.00 450.00
Eggs 7pcs 8.00 56.00
Lady Fish 3kg 80.00 240.00
Oil 1 bottle 30.00 30.00
  1291.00

EQUIPMENT (MONTHLY EXPENSES)

Particulars Quantity/Unit Unit Cost Total
Toothpick 8 pack 15.00 120.00
Siomai Paper Plate 900pcs. (2php/pc) 100.00 1800.00
Gas Tank 1 tank 1000.00 1000.00
  2920.00

EQUIPMENT EXPENSES
Particulars Quantity/Unit Unit Cost Total
Lights 1pc. 200.00 200.00
Logo Tarpaulin 1pc. 300.00 300.00
Art Materials/Decorations 1 lot 500.00 500.00
Food Stall 1pc. 3500.00 3500.00
Tables 1pc. 500.00 500.00
Chairs 2pcs. 250.00 500.00
Tongs 1 set 50.00 50.00
Condiments Container 3pcs. 20.00 60.00
Liquid Condiments Bottle 4pcs 40.00 160.00
Steamer 1pc 300.00 300.00
Gas Stove 1pc 1500.00 1500.00
  7570.00

CHAPTER 3
 A. ENVIRONMENT AND INDUSTRY ANALYSIS

Political/Legal Factors:
Political and Legal factors greatly impact Show My Lunggay because the health and safety-
related policies are mainly regulated by the FDA, and it affects the food industry the most. Show
My Lunggay must take care of cleanliness and hygiene while carrying out cooking, packing, and
delivering operations to abide by the guidelines related to health and safety. Furthermore,
government laws can change over time, and many different markets around the world have
different sets of regulations that are either flexible or strict. As the Philippines is transitioning to
a new administration, the political climate is also expected to change, especially with the past
and recent issues the government faced. This would set newer policies to be implemented or to
be renewed. In line with this, taxation also affects the purchase and quality and it also influences
the industry. It differs from country to country. For instance, one timely factor that might impact
our business is the Proposal of the Department of Finance (DOF) to the presumptive President to
remove the VAT exemption, thus affecting the price of the materials and ingredients the business
needs once it’s passed as a law.
Show My Lunggay must plan their finances well and keep this factor in mind. Show my
Lunggay must stay in line with all those policies and changes to ensure the safety and nutrition
of ordinary people and be flexible so that they can adapt to all those changes and plan business
strategies accordingly. Show my Lunggay must also follow the rules and regulations imposed by
the LGU of the chosen business location (Manila). The business must comply with the necessary
permits that are needed to operate smoothly under these policies imposed by the Local
Government to ensure compliance with these rules and regulations.

Economic Factors:
Labor - Department of Labor and Employment (DOLE) sets new minimum wage rates in select
regions in the Philippines like the National Capital Region (NCR) and Western Visayas will take
effect in early June, said Labor Secretary Silvestre Bello III. In Metro Manila, the minimum
wage rate will be effective on June 4, while the new wage rate will take effect on June 5 in
Western Visayas. The daily minimum wage in the NCR is set to increase by 33 pesos (US$0.63).
This brings the new basic pay rate for the non-agriculture sector to 570 pesos (US$10.88) for the
non-agriculture sector and 533 pesos (US$10.17) for the agriculture sector.
Inflation - Inflation is expected to settle above the target range of 2-4% in 2022 and could
average near the upper band of the target in 2023. The BSP expects 2022 inflation to settle above
the target reaching an average of 4.6%, higher than the previous estimate of 3.7%. Similarly, the
2023 inflation is projected to be higher at 3.9% than the previous estimate of 3.3%. Several
factors could push inflation higher in 2022 and 2023. Higher expected inflation is primarily due
to elevated prices of global non-oil commodities such as food and agricultural products and
metals, continued shortage in domestic pork supply, higher fish prices, and possible jeepney fare
hikes due to higher oil prices (upside risks). Meanwhile, slower global economic recovery as
well as possible repositioning of quarantine measures due to domestic resurgence of COVID-19
cases may weaken demand and could slow down inflation (downside risks).
Tax rates - Individual taxpayers earning less than P3 million are considered small businesses
under the TRAIN (Tax Reform Acceleration and Inclusion) law, and they can use the optional
8% tax rate instead of both income and percentage taxes. Small businesses, on the other hand,
are defined as corporations with a net taxable income of less than P5 million and are subject to a
20% corporate income tax under the CREATE bill. Individual taxpayers who earn and declare
more than P8 million in compensation and/or net taxable income are subject to a 35 percent tax
under the TRAIN law.
Law and policies - Starting a new business is a challenging pursuit. All of the legal implications
that come with starting a business contribute to the complexity. You want to make sure you've
covered all your legal bases as a business owner to avoid fines, lawsuits, or, in the worst-case
scenario, jail time. Small businesses, fortunately, have access to a wealth of legal resources, both
online and through hired legal counsel.

Social/Environmental Factors:
Show My Lunggay must always account for sociocultural influences in its remote/macro-
environment. The social trends and changes and their effects on consumers and employees are
considered in this part of the PESTEL/PESTLE analysis. The main sociocultural external factors
affecting Show My Lunggay are as follows:
Increasing consumer diversity
Higher health consciousness
The increasing population diversity presents the opportunity for Show My Lunggay to innovate
its products to attract consumers of various backgrounds. Higher health consciousness threatens
demand for Show My Lunggay products, which are sometimes criticized as unhealthy. However,
the Show My Lunggay can improve the healthfulness of its products. And when it comes to
environmental factors that greatly impact Show My Lunggay, the reason is that extreme weather
conditions and natural disasters can take a toll on any business in the affected area. It also affects
the availability of the main ingredient which is the Lady Fish because this is available only in
other markets. The location business is in a community that has a high population so there is high
competition, so which affects the individual’s choices. This part of the PESTEL/PESTLE
analysis points to Show My Lunggay opportunities to improve despite the threats linked to
sociocultural external factors.

Technological Factors:
Technology become the vital in recent years, particularly since the outbreak of the pandemic in
our nation and many other countries affected by it. Technology has served as a bridge to
continue the business that we have begun. With the speed of time, technology will evolve just as
rapidly now as it will in the next several years or generations, because technology has made such
an impact on our lives, it has become increasingly crucial to the majority of people, particularly
business owners.
Technological factors greatly impact Show My Lunggay because, with the advent of the new age
in technology, companies have completely integrated themselves with all the recent changes that
have taken place. Customer service and convenience are also major factors affecting sales. The
social media explosion has allowed for increasingly interactive communication and it also has
already changed the way brands served and engaged consumers. To be able to keep up with what
people are used to, Show My Lunggay has to stay ahead of all the developments that may take
place with keeping in view how people use technology for their benefit and how can Show My
Lunggay reach them through social media and to keep on increasing the brand engagement.

B. SWOT ANALYSIS

Strengths:
 Location: Show My Lunggay first location is in a community that has a large population.
It is an advantage of our business to raise brand awareness.
 Production: We have a large workforce. Since our group has 11 members, the task
distribution will be optimized.
 Show My Lunggay product has a low-cost production.
 Uniqueness: Show My Lunggay product is innovative and unique.
 Competition: The product is cheaper than our competitors.

Weaknesses
 Fresh to The Business Market - We all know the struggle when you're new to a business
market, we will be needing a lot of effort to establish our business reputation and brand to
be known by our target customers.
 Lack of Capital and Experiences - Startup capital is the number one problem of every
business. We're not sure if our capital is good enough to fulfill all the expenses needed by
our business and our experiences as an owner especially, since we're first-timer.
 Lack of Machinery and Equipment - Nowadays machinery and equipment are really
important to every business. It will make the business more efficient and productive. It
will make things easy for the business to work on precisely. And that's what I think is one
of our weaknesses since we know that machinery and equipment are too expensive for us
to purchase.
 Inadequate Supply Chain - As a First-time Business owner one of our major weaknesses
in our supply chain. We are still clueless about the suppliers of our raw materials and
we're still figuring it out.
Opportunities
 The new taste and flavor of the Siomai will give the customers something new to crave
for.
 Chance to expand the business at wide variety and can franchise affordably by small
business entrepreneurs
 Always on the market trend and every Filipino are fond in eating street foods.
 Complementary to sell beverages to combine with the ShowMylunggay.

Threats:
 A possible shortage of some ingredients- ingredient like ladyfish is sometimes in demand
and hard to find. This might cause inconsistency in daily operations.
 Many barriers to entry as a startup business- factors like government regulations, other
businesses' brands, and the existence of a strong network, are among the challenges for a
new entrant.
 Unforeseen events like heavy rainfall can lead to transportation disruption and loss of
crops and livestock may affect the business.
 Strong competitive environment- Many competitors are already selling the same product
and they have already built a strong relationship with loyal customers.