Republic of the Philippines

Tarlac Agricultural University

Camiling, Tarlac

College of Business and Management

A Narrative Report in:

Business Plan Implementation I and II

Bombil's Food House

Malacampa, Camiling, Tarlac

Presented to the Faculty of the Entrepreneurship Department

College of Business and Management

In partial fulfillment of the requirements for the degree

Bachelor of Science in Entrepreneurship

CARMELA B. CASTILLO

HANNAH KATHLEEN M. JAVIER

RAMON D. NACINO II

Submitted to:

KIMBERLY M. PASCASIO

Adviser

June 2023
 ACKNOWLEDGEMENT

Finally, we must express our profound gratitude to our parents, Mr. Sosimo T. Castillo and Mrs. Bing Claire B.
Castillo the parents of Ms. Carmela B. Castillo, Mr. Henry Javier and Loida M. Javier the parents of Ms.
Hannah Kathleen M. Javier and to Mr. Ramon F. Nacino and Mercedita D. Nacino the parents of Mr. Ramon D.
Nacino II. And to Our family who are supported us emotionally and financially, words can hardly describe how
grateful we are, they’re our source of inspiration, support and guidance. They taught us to believe in ourselves,
we are truly thankful and honored to have them as our parents.

We would like to express our deepest appreciation to our adviser Ms. Kimberly M. Pascasio for her invaluable
patience and feedback, we cannot have undertaken this journey without her who generously provided
knowledge and expertise.

This endeavor would not have been possible without the customers and friends who always supported our
business, thank you so much for always patronizing our products.

And for us the owners, the entrepreneurs and the future successful business owners we acknowledge the
learning's, and the courage to always taking the risk. We finally did this and make this far happened we are
extremely grateful for ourselves as we strive this journey for believing in ourselves and fighting for our dreams.

And to Almighty God who has given us strength and encouragement throughout all the difficulties and
challenges moments, we are truly grateful for his unconditional endless love, mercy and grace.
Table of Contents

1. Business Portfolio

1.1 Name of the Business

1.2 Products/Services offered

1.3 Location of the Business

1.4 Business Permit No.

1.5 DTI Permit No.

1.6 TIN No.

1.7 Form of Business Organization

1.8 Name of Registered Owner

2. Background of the Business

2.1 Pre-operation Activities

2.2 Form of Business Organization

2.3 Nature of the Business

2.4 Target Market and Area of Operation

3. Innovation Management

3.1 Production/Merchandising or Service Aspect

3.2 Marketing AAspect(4P’s)

3.3 Financial Aspect

4. Financial Aspect (Discuss the details of your Financial Aspect)

4.1 Source of Capital

4.2 Allocation of Capital

4.3 Statement of Financial Operation (Income Statement)

4.4 Statement of Financial Position (Balance Sheet)

4.5 Statement of Cash Flow

4.6 Profitability Ratios

 Return on Sales

 Payback Period

5. Highlights

5.1 Breakthroughs/Success

5.2 Problems/Challenges Encountered and Solutions done

6. Learning

7. Appendices

Business Permits/License

DTI Registration

TIN

Book of accounts/ledgers

Photo Docs
 BUSINESS PORTFOLIO

Name of the Business: BOMBIL’S FOOD HOUSE

Products/Services offered: TAKOYAKI

Location of the Business: Malacampa, Camiling, Tarlac

Business Permit No. 2022-036903000-2546

DTI Permit No. 4160898

TIN No. 615-316699

Form of Business Organization: Single Proprietorship

Name of Registered Owner: Carmela B. Castillo

 BACKGROUND OF THE BUSINESS

2.1 Pre-operation Activities

October in 2022 the owners finally got the Permit and Licenses of the business and in the same month the
owners starts to buy the equipment's, utensils and Ingredients needed for operating the business and starting to
introduce the product to the target market by posting on social media platform, giving discounts and selling
door to door in TAU campus and near boarding houses, the owners keep the routine of selling strategy.

2.2 Form of Business Organization

This Business is Single Proprietorship, and there are three entrepreneurs investing for this business named Ms.
Castillo, Ms. Javier and Mr. Nacino each of them has responsibilities to run this business.

Ms. Castillo is the Marketing Manager who's responsible for developing and executing strategic marketing
plans, gathering information to identify new markets and customers she also managing the social media
platform that the business have.

Ms. Javier is responsible for the production of the product, her responsibilities are monitoring the consistency
of the products quality, ensuring all the ingredients and materials required for production.

And Mr. Nacino is a Financial Manager who is responsible for the financial reports, monitoring the cash flows
and managing expenses.

2.3 Nature of the Business

Bombil's Food House offered Takoyaki a Japanese dish, There are two varieties such as Ham and Cheese and
Crabstick and Cheese, The owners produce the products fresh and hot, and sell it to the customers.

2.4 Target Market and Area of Operation

The target market of the business will be the TAU Students and Employees, resident of malacampa and near
barangay. The owners pick this place because near from the University many students will like our product
because they’re millennial they keep up with the trend and takoyaki is one of the trend these day. The area
operation was located at Malacampa, Camiling, Tarlac.

INNOVATION MANAGEMENT

3.1 Production/Merchandising or Service Aspect

Improving the product packaging from styro foam to paper meal box which is more secured for the product and
appealing to the customers.
3.2 Marketing Aspect

Product

Since there are only two types of sauce available for takoyaki, the business owners decided to add white sauce
as a third flavor to improve the dish’s flavor even further. And the owners find a perfect formula to make a
takoyaki flour much cheaper than the usual flour that the owners purchased in online store, and by these the
owners able to do a little bigger of takoyaki and make the looks more attractive.
Price

The owners decided to have a 50 pesos fix price for the 6pcs takoyaki to any flavors, the price is reasonable
because of the quality of the product, and give up to 20% discount base on the discussed marketing strategies of
the owners.

Place

The Bombil’s Food House is located at Malacampa, Camiling, Tarlac and the owners exports their product in
their town Ms. Javier is from Camiling, Tarlac and Ms. Castillo and Mr. Nacino are both from La Paz, Tarlac
they do made to order basis which means took an orders, produced and delivered the product.

Promotion

Promoting the products through door to door basis, and social media platform to advertise the product and also
giving discounts to attract the customers to purchase the product.
3.3 Financial Aspect

Some raw materials needed to produce the product in the first 2 months is expensive, that’s why the owners
need to think about alternative way to reduce the cost and at the same time produced a quality product so that
many customers will buy to increase the sales.

For example: The price of takoyaki flour in online store is 90-100 pesos for 1 kilogram, but the alternative that
owners found it cost 120-150 pesos for 2 kilograms. And the owners found a suppliers for the toppings and
flavors such as the Ham, Crabstick and Cheese much cheaper price than the usual price in the market.

FINANCIAL ASPECT

4.1 Source of Capital

SOURCE OF CAPITAL

CASTILLO, CAPITAL 3,980.00

JAVIER, CAPITAL 3,980.00
NACINO, CAPITAL 3,980.00
TOTAL 11,940
The business spent PHP 11,940 to start the business, the three owners investing PHP 3,980 each of them.

4.2 Allocation of Capital

Costs of Goods Sold

OCTOBER NOVEMBER DECEMBER JANUARY FEBRUARY MARCH APRIL
Beginning Inventory 3,201.00 785.00 385.00 570.00 530.00 363.00 730.00
Add: Purchases 3,958.00 1,387.00 1,618.00 1,514.00 1,827.00 2,474.00
Total Inventories 3,201.00 4,743.00 1,772.00 2,188.00 2,044.00 2,190.00 3,204.00
Less: Ending Inventory 785.00 385.00 570.00 530.00 363.00 730.00 290.00
COGS 2,416.00 4,358.00 1,202.00 1,658.00 1,681.00 1,460.00 2,914.00

Operating Expenses

Permits and Licenses 2,970.00 500 1,000

Medical Requirements 614.00
Advertising Expense 100.00
Transportation Expense 506.00 176 66 30 94 60 160
Utilities Expense 50.00 50 50 50 50 50 50
Utensils 329.00
LPG 970.00
LPG hose 200.00
Takoyaki Pan 3,000.00
Total Expenses 8,739 226 116 80 644 110 1,210

The owners include all the expenses such as the Beginning Inventory for the month of October 2022 it cost Php
3,201.00 for the ingredients and other stuffs to produced the product, and also the Operating Expenses for the
month of October 2022 it cost Php 8,739.00 for the Permits and Licenses, Equipment, Utensils, Utilities,
Advertising, Transportation and Other Expenses to starts the business.

And as you can see the highest cost of goods sold is the month of November, this month the owners haven’t
discover yet the alternative ingredients with a lower price.

Statement of Financial Operation (Income Statement)

STATEMENT OF OPERATIONS (INCOME STATEMENT)
OCTOBER NOVEMBER DECEMBER JANUARY FEBRUARY MARCH APRIL TOTAL
Net Sales 6,400.00 10,850.00 4,000.00 8,600.00 8,400.00 9,300.00 14,150.00 61,700.00
less: sales discount 150.00 200.00 820.00 1170
Total Sales 6,250.00 10,650.00 4,000.00 8,600.00 8,400.00 9,300.00 13,330.00 29500
Less: COGS 2,416.00 4,358.00 1,202.00 1,658.00 1,681.00 1,460.00 2,914.00 15689
Gross Profit 3,834.00 6,292.00 2,798.00 6,942.00 6,719.00 7,840.00 10,416.00 44,841.00
Less: Operating Expenses 8,739.00 226.00 116.00 80.00 644.00 110.00 1,210.00 11125
Net Profit/Net loss - 4,905.00 6,066.00 2,682.00 6,862.00 6,075.00 7,730.00 9,206.00 33,716.00

According to the Income Statement in the month of October 2022 the owners experience -4905.00 net loss,
because in that month the owners starting their business and needs to buy the needs for the business, but in the
next months the business experiencing a net income for the month of November the owners collected PHP
6,066.00, for December has PHP 2,682.00 net income, for January has PHP 2,862.00, for February has PHP
6,075.00, for March has PHP 7,730.00 and the biggest net income is for the month of April has PHP 9,206.00
the biggest sales that the owners have and the total of net income for the month of October 2022 – April 2023 is
PHP 33,716.00

4.4 Statement of Financial Position (Balance Sheet)

STATEMENTOF FINANCIAL POSITION

OCTOBER NOVEMBER DECEMBER JANUARY FEBRUARY MARCH APRIL TOTAL
ASSET
Cash and Cash Equivalents 6,160.00 12,716.00 15,213.00 22,115.00 28,357.00 35,720.00 45,366.00 165647
Inventories 785.00 385.00 570.00 530.00 363.00 730.00 290.00 3653
Total Asset 7,035.00 13,101.00 15,783.00 22,645.00 28,720.00 36,450.00 45,656.00 169390

LIABILITIES
Total Liabilities - - - - -

Equity 11,940.00 7,035.00 13,101.00 15,783.00 22,645.00 28,720.00 36,450.00 135674

Net Income/Net Loss - 4,905.00 6,066.00 2,682.00 6,862.00 6,075.00 7,730.00 9,206.00 33716
Total Liabilities and Equity 7,035.00 13,101.00 15,783.00 22,645.00 28,720.00 36,450.00 45,656.00 169390

According to Statement Of Financial Position in the month of October 2022 The total assets is 7,035.00
Balance with Total Liabilities and Equity, in the Month of November the total assets is 13,101.00 as long as the
Total Liabilities and Equity, for the month of December the total assets and total liabilities and equity is
15,783.00, for the month of January the total assets and total liabilities and equity is 22,645.00, for the month of
February the total assets and total liabilities and equity is 28,720, for the month of march the total assets and
total liabilities and equity is 36,450.00 and for April 2023 the total assets and total liabilities and equity is
46,656.00 the total of total assets and total liabilities and equity for the month of October 2022 – April 2023 is
169,390.00.
4.5 Statement of Cash Flow

Cash Flow Statement

OCTOBER NOVEMBER DECEMBER JANUARY FEBRUARY MARCH APRIL TOTAL
Cash Beginning 11,940.00 7,035.00 13,101.00 15,783.00 22,645.00 28,720.00 36,450.00 135674
Add: Cash Receipts/Cash in
Sales 6,250.00 10,650.00 4,000.00 8,600.00 8,400.00 9,300.00 13,330.00 60530
Total 18,190.00 17,685.00 17,101.00 24,383.00 31,045.00 38,020.00 49,780.00 196204
Less: Cash Disbursements/Cash out
Expenses 8,739.00 226.00 116.00 80.00 644.00 110.00 1,210.00 11125
COGS 2,416.00 4,358.00 1,202.00 1,658.00 1,681.00 1,460.00 2,914.00 15689
11,155.00 4,584.00 1,318.00 1,738.00 2,325.00 1,570.00 4,124.00 26814
net income/loss
Total Cash Balance Ending 7,035.00 13,101.00 15,783.00 22,645.00 28,720.00 36,450.00 45,656.00 169390

According to Statement of Cash Flow the highest cash balance ending is from the month of April 2023 with the
total of 46,656.00 and the lowest cash balance ending is from the month of October 2023 with the total of
7,035.00 for month of November 2022 the cash balance ending is 13,101, for December 2022 is 15,783.00, for
January 2023 is 22,645, for the month of February 2023 is 28,720.00 for the month of March is 36,450.00 for
the total of 169,390.00.

4.6 Profitability Ratios

 Return on Sales

RETURN ON SALES

October November December January February March April

-0.76 0.55 0.67 0.85 0.72 0.83 0.65

In terms of Profitability Ratio, it shows the return on sales from October 2022 – April 2023. In October 2022
the return on sales is (-0.76) the lowest return on sale, for November 2022 got (0.55), for December 2022 got
(0.67), for January 2023 got (0.85) the highest return on sale, for February 2023 got (0.72), for March 2023 got
(0.83) and for April 2023 got (0.65).

 Payback Period
 Payback Period Initial Capital Annual Cash Flow

October 12000 -4905

November 6066
December 2682
January 2862
February 6075
March 7730
April 9206

After 5 months of operating the business, finally the capital that the owners investing has returned, the owners
gathered PHP 16,173.00 in the months of October – February and the owners investing PHP 11,980.00 only.

HIGHLIGHTS

5.1 Breakthroughs/Success

BIR VIRTUAL BRIEFING FOR NEW REGISTRANTS

Ms. Carmela B. Castillo one of the owners attending the BIR seminar, as a beginner in the business industry in
September 2022 she attend a seminar to have an idea on what the better to do for the business in order to ensure
the tax compliance and to be allowed to start the business operations.

DEPARTMENT OF TRADE AND INDUSTRY SEMINAR

This seminar the three owners attending DTI seminar in different topics, Ms. Carmela and Ms. Hannah
Kathleen attended for Product and Development Seminar which she can learned on how to improve the quality
of the product, the design of packaging and development of the product to ensure that the customers meet the
satisfaction. And Mr. Nacino attended for Vlogging and Blogging as he learned how to film the product for
promotion how to make the customers attract to the photos of the product and the attractive words to introduce
the product to the public and patronize it.

LOYAL CUSTOMERS
When the owners planned to start this business, undoubtedly thought about how to make it trendy and one of
millennial’s favorite Japanese foods while also keep the point reasonable so they could afford it, and the owners
did it found the right customer which are the LS students at TAU they had a huge percentage of this business
successes.

BIGGEST ORDERS

The another success for the owners was when the forestry students appreciate and patronizing our product, they
reach out to the owners and surprisingly ordered 32 orders of takoyaki and in just 2 hours we have 1,600 pesos
sales that happened in the month of November 2022.

And in Month of April the biggest order we gathered is 48 orders in just one day, the owners taking the risk to
sell it and successfully make it happen.

5.2 Problems/Challenges Encountered and Solutions done

In the beginning of the business, the owners didn’t expect that they need a quiet huge money for organizing
paperwork's, permit and licenses and the things needed for running and starting the business, so the owners
need to push through it, hard work is the only key that the owners keep in their mind the solutions that they’ve
done is to sell their products every day as much as they can.

The owners had face difficulty in finding a customers at first because of the location, but rather than giving up,
the owners has other plan, such as door to door/ room to room and this difficulty made the owners more
diligent.

Bonito Flakes and Takoyaki Flour Mixture are the raw materials to make a takoyaki and these are available in
online store, the owners waits 3-5 days to arrive these ingredients and without it the owners wouldn’t able to
sell and produced products.

The thing that the owners think was to make an alternative way by searching and experimenting, at the same
time the owners can get the needs immediately in the near market, this is the white sauce instead of bonito
flakes, white sauce is made of evaporated milk, cheese and some spices and mixtures of all purpose flour, corn
starch, baking powder, onion and garlic flour instead of Takoyaki flour in online store. This problem has a
benefits for the owners because it reduce the cost of raw materials and increase the net sales of the business
because the price of alternative ingredients that the owners found is quite lower than the usual ingredients from
online store.

Another one is there are a lot of times that so many left cooked takoyaki that the owners need to sell, the
solutions that comes the the owners minds is to lend it to the people we know, we do house to house or travel it
camiling – la paz to sell there because 2 of the 3 owners are from la paz and make the price a 20% lower than
the usual price.

6. Learning

Running a business is difficult and calls for commitment and above all, persistence. Even organizing paper
works to launch the business is challenging especially for students who find it challenging to find it right away
to withdraw money, despite this however, there is also enjoyment and excitement because finally start to
managed a business, there were challenges along the way, but thanks to team work the owners will able to
address it quickly and complete everything that needes to be completed and I believed that everything is in
order.

- Ramon Nacino

This business implementation gives me not only a profit or an income, but a self improvement, new friends,
family, learning's and realizations. I, future successful business woman I am always taking the risk and I sees
even the invisible things because I believed that you can’t win the battle if you are not fighting for it, so that in
this journey all the rejections from the people who we’re asking to buy our product and say no, net loss, down
days, no orders, group misunderstanding and tiring days is just the way for me to be a better one to face the next
chapter of my journey, because I know to myself if I quit and not facing all those battles I will never get what I
am aiming for. Running a business while studying is hard for me but it’s the reason why I am a hardworking
and more a goal digger today and I am sure that I am always doing what I am passionate and love about,
because running a business is not just you are doing it but also loving what you are doing with commitment and
full of motivation.

- Carmela Castillo
The Entrepreneurs have experience that it is not easy to to run a business, you have to take risks and give all
your effort to make the business successful. Even though there were many challenges that came, this did not
become obstacle to us to stop, it became an inspiration. We also realized that you must also have faith in your
team members in each other to make the work easier. Despite all the challenges that we encountered, we
overcame all of that and we still to managed all of that even though its was difficult.

- Hannah Kathleen Javier

7. Appendices

Business Permits/License
DTI Registration

TIN NO.
Book of accounts/ledgers
Photo Docs