Professional Documents
Culture Documents
This business was planned a long time ago already. Physical store was built
in front of the OLFU last May 2022. Currently, since face-to-face classes started
again, the business earns a lot and it is now one of the most known stores in the
area.
Manager was hired by the owners with all their credentials presented in the
interview. Aside from that, owners are also focused in handling the business that is
why the business is not really in need of employees as of now.
Our product will be fried noodles on a cup with unlimited sauces of your
choice.
The Noodle A (Fried noodles in a cup with 3 pcs chicken vegie siomai)
The Noodle B (Fried Noodles in a cup with 3 pcs pork vegie siomai)
The Noodle C (Fried Noodles in a cup with 2 pcs shrimp vegie siomai)
The Noodle Supreme (Fried Noodle in a cup with 5 pcs siomai of choice)
Add ons
Fried egg
Nori
Note
Create your own flavor (mix and match your sauces)
Teriyaki
Peanut
Oyster
ToyoMansi
Barbeque (with chili oil and fried garlic)
The unique feature of our product is that we are the one who will create the
vegetable siomai, and this will be beneficial for the health of our customer since our
siomai is made up of vegetables. Our product will shine with its design, flavor and
most especially, its healthiness. From its physical features, it has appetizing
arrangements and different types that the target market can choose from. It’s either
the normal toppings or the fully loaded fried noodles. Customers can also mix and
match different flavors.
First of our advantage is the product itself. Fried noodle is one of the popular
food trends nowadays. In relation to that, we can say that we have the advantage of
being trendy and timely. Our business also differs from its services (comparing from
the other business within or near the area). It can be made by the customer
themselves and do their own recipe. We also think that our store can be different in
the interior and exterior design.
We offer the highest quality of products and as well as services. They will buy
from us because our products are high quality, unique, delicious, healthy and most
especially, affordable. We also offer the highest quality of customer service, not just
in terms of face-to-face contact but as well as in our social media accounts. They will
buy from us because they know that they’ll receive the highest satisfaction that they
could ever receive by purchasing our products and interacting with us. And if any
customer will desire, we also wanted them to experience doing our product with
them. That is why we’ve come up to an idea of having a self-service center where
they can do their own designs and such. Our members will surely assist and help
them in experiencing this.
It will definitely be a fair, hard and full of effort competition. Since we are in
the food industry specifically in the street food business, we believe that this would
be a hard competition and we expect them and our team to become really
competitive in terms of bringing our customers the highest quality of products with an
affordable price. We also think of it as a healthy one because I believe that these
competitions make the industry lively and motivate us to do better as always and
provide the customers with the best customer service and assistance that they
needed.
Competitors may harm the business or it can also bring success to it. Either
way, competitions should be fairly done by both parties. This will always be a part of
business world, thus, as a business owner, we should decide things that will let us
improve in many terms. Firstly, we've identified possible competitors with the
business we've built which is more probably to be on the food industry. Second, after
identifying competitors, we analyze information gathered to be used in the future,
specifically, their strength and weaknesses. Lastly, we determined the advantage we
have against them. With this process, we think that it will be much easier for us to
make way to the top.
Fast food Restaurants. In this kind of field, Jollibee, McDonalds and a lot of fast food
chain stores can be our indirect competitor. Given the area we've planned to build
our business, there are a lot of commercial stores that is now known by huge
population. These restaurants offers different product from us but can definitely get
some of our supposed customer if ever. So it is important also to be aware of the
consequences or problem that may arise when it comes to the competition.
The areas we are targeting to build our business with are the places nearby
schools and offices which as of now decided by the members to be of OLFU
students reach. Having our location as an advantage will make our product more
popular and known. We are also considering the areas with an aesthetic spot since it
can be an attractions to many customers, not just for a beautiful field of vision but
also for its relaxing and calming view to look at. And lastly but a risky one, the spot
we are aiming for is the spot with a business almost same with us. With this, we can
have a pie or half of the share of their supposedly profit and possibly gain customers
from them.
Customers with willingness to buy from our store can be our loyal customers.
Set of standards are mostly inflicted in some stores. With all the observations we
have done, there can’t be consumers that’ll be the less priority of the employees.
Moreover, situations of disrespectful services may lessen comers and fail the
business. That is why with all of the knowledge we’ve acquire, we will try our best to
accommodate customers simultaneously with same energy. Society’s class will not
be included in the run of the business. Assuring the smooth flow to our success,
advantages like having the 5 over ratings when it comes to the product and the
services will be done with the implementation of good conduct.
Marketing Plan
(Marketing should address the four P’s – Product, Price, Placement, and Promotion)
Our product will be fried noodles on a cup with unlimited sauces of the
customer's choice.
MENU
The Noodle A
(Fried noodles in a cup with 3 pcs chicken vegie siomai)
The Noodle B
(Fried Noodles in a cup with 3 pcs pork vegie siomai)
The Noodle C
(Fried Noodles in a cup with 2 pcs shrimp vegie siomai)
The Noodle Supreme
(Fried Noodle in a cup with 5 pcs siomai of choice)
Add ons:
Fried egg
Nori
Note: We will also offer some enjoyable activities that can surely peak everyone's
interest.
Create your own flavor (mix and match your sauces)
Teriyaki
Peanut
Oyster
ToyoMansi
Barbeque
(with chili oil and fried garlic)
2. My pricing strategy is (For example: premium, every day, low price, frequent sales):
The Project Noodles Team will use direct distribution since our product can
be sensitive for it is a food that can be spoiled if contaminated. The Project Noodles
Team will deliver products or goods directly to the customers. This means that the
company will do all of the advertising and marketing itself, and sell them directly
coming from the physical store. When it comes to a direct distribution strategy, there
are lots of benefits. One of these benefits is that the company has the opportunity to
interact directly with the customer, receive first-hand feedback and reviews, and
collaborate with them to further improve the customer experience. Another
advantage is that the company can concentrate on product quality. Being a first-
hand direct distributor will mean overseeing every aspect of our products' quality.
The company has the opportunity to be involved in all aspects of product quality
assurance, including manufacturing, production, inspection, design, packaging, and
delivery to nearby areas.
Digital channels are one of the best ways to do advertising. Social media is
very relevant and the most effective way to advertise our product to our target
customers. We came up to an idea to add one more strategy also to attract more
customers. Print or brochures/flyers where customer can read the product/services
itself and the benefits the can get form it. The Project Noodles Team came to the
conclusion that sometimes the ideal strategy for reaching the target audience is not
to speak directly to the customers but rather to saturate the channels that serves as
a source of information to them
We can have and analyze data from the given survey easily through digital
survey wherein customers can easily rate their experience by just clicking on the
provided digital appliance on the counter. This digital survey is very popular to a lot
of groceries and convenience stores like 7/11 and Mini stop. Furthermore, we can
also use the normal and old way of gathering feedbacks from the customer wherein
we will give them a piece of paper stating the services we do and the customers will
be filling up the survey by writing down or rating their whole experience while they’re
in the store.
Operating Plan
The location of our business is located near Our Lady of Fatima University
Pampanga Campus. This university is one of the most known universities in
Pampanga which accommodates a lot of students from high school to college. Our
team decided to choose this location because based from what we observed, this
area is very much perfect and fitted for business purposes, specifically for the
business we are planning to build.
This is a good location for my business because the place is peaceful, cozy
and near the target customers. The area is peaceful considering that the location is
near villages and it has a cozy vibe since it has tall trees surrounding the area. Aside
from that, the area is also passable by university students, different vehicles and
even people who stay near the villages. This makes the location perfect because
again, we are near our target customers who surely want a cozy and peaceful vibe
while eating served noodles from us.
As for the initial equipment needed for commencing the business, the team
will be having chairs, tables, electric fans or aircon, water dispenser, fryer, other
cooking equipment and more. We will also be needing lights with designs that fits
with the place and as well as the usual needs such as chopsticks, cups and more.
This is one of the essentials since we are aiming for a place that is cozy and at the
same time, a comfortable place for the students to go to. Cooking equipment is a
must like spatula, steamer and frying pan in creating our vegetable noodles.
6. If I need to hire new employees, I will need to hire for these new positions:
Giving the benefit that the employees deserve can build enough connection
between them and the owner. As we believe it is one of the most important
categories to keep the business well, just like the statement saying “employees are
one of the reasons on why a business can be successful. So first, we will be
providing day offs. This benefit may be usual for us but to further elaborate this, day
offs are really necessary to make sure that our employees will also have time to rest
and bond with their families and loved ones to keep them energized on work days.
Second, we will provide benefits such as SSS, Philhealth and Pag-ibig to make sure
that their future is also secured, with this, not only that we can help them in the
present time but also for them to somehow ensure their future. And of course, we will
also provide 13th month pay and bonuses by the end of the month or year as our
way of thanking them for their hard works. Lastly, we will also provide incentives for
them especially to those employees who really worked hard with their jobs all
throughout the year.
My suppliers and vendors are from public market that offers clean and good
quality raw materials. This is also to make sure that the prices of our products are
affordable enough for our consumers. Of course, as buyers, we will also make sure
a hundred of times the cleanliness of their raw materials before choosing our main
suppliers. Sooner, we will also conduct further research on where can we find more
suppliers that can offer and accommodate large number of orders. Also, we will
consider secure and smooth transactions from the suppliers like having stocks when
needed and can be trusted when it comes to deliveries.
10. Changes I am considering for the business (if purchasing an existing business):
Consideration that we have in mind is to make changes in terms of the product that
we sell depending on the sales of our business for the whole two months. If the
proposed product didn't make any progress for the whole months, then we will make
such changes in products that we sell or we can add up to the menu. Maybe, our team
will opt to purchase an existing business like franchising Mang Inasal, Jollibee or
McDonalds also known as fast food restaurants. Second, we’re also considering
changes with the sauces that we will be offering depending on the feedbacks of our
future customers who will taste test our noodles. And lastly, our team will also consider
online orders and deliveries in the future to make sure that we will be able to connect
with more customers and audiences around the area. So definitively, our business can
operate in accordance with the performance, ratings and results of all the proposed
product and services.
2. My attorney is:
The attorney hired to hold cases and other matters is no other than the famous Atty.
Kalix Fuentavilla who graduated at UP Diliman with flying colors. He is a close friend of
one of the owner and he is assigned to make sure that all of the documents needed for
opening our business is legal and legitimate. Aside from Atty. Fuentavilla, attorneys
specializing other matter will also be considered with this. Stated below are some type of
lawyers and what legal matters they can possibly handle.
Employment lawyers — this is for handling cases for issues relating the workplace. It
is for both the employees and employers, to settle things about contracts, terminations
and such.
3. My accountant is:
Our accountant is also one of the owners of this business, Ms. April Tolentino who
graduated at one of the known schools in Pampanga— Holy Angel University that is
located in Angeles City. She works as a part time accountant in our business while she
is also an accountant to other known local firm here in Pampanga. It is a big help for us
to have her in the company because we can assure that finances are in good hands and
being taken care of.
4. Other professionals that I will use are (accountant, banker, insurance agent, engineer,
consultant, etc.):
Other positions opened that we think are the best to be occupied are professions like
chefs, engineers, architect, interior designer, bankers and as well as auditors to make
sure that our business will be perfect and everything will be put in order including the
structure of the place, the designs and even the foods that we will serve in the
customers. Professionals or not will be well appreciated as long as they're doing the job
accordingly.
SWOT Analysis
The variety of the noodle market is one of its advantages. Noodles serve as a
mainstay for eaters of all races, ages, and socioeconomic levels which are popular in
students. The noodle meal is also adaptable to a variety of tastes, from homemade
sauces to homemade veggie siomai. For particular diets, noodle dishes can also
incorporate a broad variety of meats, veggies, and sauces. Because of the simple
preparation, distinctive flavor, and low price, noodles are a favorite among many
consumers. Consumers have higher expectations for the nutritional quality, texture,
taste, and flavor of noodle products as a result of the growth of the global economy and
rising health and nutrition consciousness. While this is going on, the company needs
noodles that are reliable and consistent in the processing.
Decreasing interest can affect product income and demand forecasting leading to
higher rate of missed opportunities compare to its competitors. Lack of accurate
forecasting of product demand causes more missed chances than its rivals. Days
inventory is higher than competitors' days inventory, which can force the company to
raise more money to invest in the channel. Business will struggle to maintain higher
inventory both internally and externally. This may have an effect on the company's long-
term growth.
Any brand has the potential to improve in certain areas in order to grow its customer
base. Opportunities for this product include geographic expansion, product
enhancements, improved communication, etc. In this business, as per the area where
the business was built, it is a great opportunity to lack direct competitors. Given this
advantage, customers will flock more in the store knowing its price that student can call
budget-friendly. Consumer’s interest can also lead us to some greater opportunities not
only in the short run but for long term assets. In this kind of business, businesses in lined
with food manufacturing can also be good investments if ever.
Any firm may face risks in the form of elements that could harm its operations.
Threats can come from a variety of sources, including increased rival activity, shifting
governmental priorities, alternative goods or services, etc. The Project Noodles can
experience the following; price instability, fierce competition, and rising operating costs,
as well as competition from a very crowded market space with convenience stores and
restaurants nearby.
Financials
The collateral I can use for financing includes the properties that we currently
have. In terms of this idea, as much as possible, having collaterals that are much
acceptable by banks is our foreseen thing to give at sake. Another collateral that we
have in mind are golds. Although golds are good investments, we thought that we
can use this as collateral just in case there are emergencies or extra financing
needed for our business/company. As a business owner, it is important to be genius
on the way you risk things, so in all that we got, we'll lessen the possibility that
situations like carrying huge amounts that falls under credit or borrowing money from
the bank will occur.
In putting up a business, you should always put in mind that not every day is
a good day. There will always be a problem that can affect the business badly and
one of these is the lacking when it comes to the income or funds to pay for
expenses. If ever this happened, being short on money for the project, one option
that we have listed in the plan is pulling money from our own savings. Since each
one of us has our own savings, we can use this money to fill gaps or solve the
problem relating short on funds. This is to avoid borrowing from other people, banks
or companies that can increase liabilities which is not a good sign in a business. But
if the money isn't really enough, we can also get extra money from our emergency
funds or from loans.
4. My bank is, or the banks I would like to work with are:
The banks that we would like to work with are regular banks such as BPI for
our savings account. BPI is one of the trusted and known banks these days. It is
one of those overrated banks when it comes to their services, which is why we've
chosen this bank to avoid being robbed and losing money. Also it will help us to have
records on how the money is being spent and have its details about money in and
out. Aside from that, it will be beneficial for us to be related with insurance
companies. It is to ensure and secure the future of the company and employees as
well. Lastly is the investment banks, to add up extra money or investments in our
bank more specifically, our company and earn extra profit for future purposes.
Though we think that it can really be hard to negotiate with this type of bank,
considering its nature, we would still include this for the company's growth. These
banks would help our businesses in terms of liquidity and as well as for extra funds
for future purposes.
MEMBERS:
Sean Rykiel R. Baterna
Frankie Quiliza
Josephine C. Pamintuan