Republic of the Philippines

Tarlac Agricultural University

Malacampa, 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 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 Aspect(4P’s)

3.3 Financial Aspect

4. 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
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 start to buy the equipment's, utensils and ingredients needed for operating the business, starting to
introduce the product to the target market by posting on social media platform, giving discounts and selling
door to door in Tarlac Agricultural University (TAU) campus and near boarding houses.

2.2 Form of Business Organization

This Business was Single Proprietorship, and there were three entrepreneurs invested for this business named
Ms. Castillo, Ms. Javier and Mr. Nacino each of them had responsibilities to run this business.

Ms. Castillo was the Marketing Manager who was responsible for developed and executed strategic marketing
plans, gathered information to identify new markets and customers she also managed the social media platform
that the business had

Ms. Javier was responsible for the production of the product, her responsibilities were monitored the
consistency of the products quality, ensured all the ingredients and materials required for production.

And Mr. Nacino was Financial Manager who were responsible for the financial reports, monitored the cash
flows and managed expenses.

2.3 Nature of the Business

Bombil's Food House offered Takoyaki a Japanese dish, there were two varieties such as Ham and Cheese and
Crab stick and Cheese, the owners produced the products fresh and hot, and sold it to the customers.

2.4 Target Market and Area of Operation

The target market of the business would be the TAU students and employees, resident of Malacampa and near
Barangay. The owners picked this place because near from the University many students would like our
product because they were 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

Improved the product packaging from styro foam to paper meal box which was more secured for the product
and appealing to the customers.

3.2 Marketing Aspect

Product

Since there were 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. The owners found 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 50 pesos fix price for the 6pcs takoyaki to any flavors, the price was 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 was from Camiling, Tarlac and Ms. Castillo and Mr. Nacino were both from La Paz,
Tarlac they do made to order basis which means took an orders, produced and delivered the product.
Promotion

Promoted the products through door-to-door basis, and social media platform to advertised the product and
given 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 was 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 90-150 pesos for 1 kilogram, but the alternative that
owners found it cost 130-160 pesos for 2 kilograms. And the owners found a suppliers for the toppings and
flavors such as the Ham, Crab stick and Cheese much cheaper price than the usual price in the market.
FINANCIAL ASPECT

4.1 Source of Capital

Name of the Owners Amount invested

Carmela Castillo 3,980.00
Hannah Kathleen Javier 3,980.00
Ramon Nacino 3,980.00
Total 11,940.00
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

ITEM AMOUNT
Beginning Inventory 3,201.00
Equipment 4,170.00
Utensils 329.00
Transportation 506
Permits and Licenses 3,584.00
Advertising 100.00
Utilities 50
TOTAL 11,940.00

The owners included 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 with the total of Php 11,940.00

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
Schedule of Operating Expenses:

Permits and Licenses 3,584.00 500 1,000

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

Statement of Financial Operation (Income Statement)

STATEMENT OF OPERATIONS (INCOME STATEMENT)

OCTOBER NOVEMBER DECEMBER JANUARY FEBRUARY MARCH APRIL
Net Sales 6,400.00 10,850.00 4,000.00 8,600.00 8,400.00 9,300.00 14,150.00
less: sales discount 150.00 200.00 820.00
Total Sales 6,250.00 10,650.00 4,000.00 8,600.00 8,400.00 9,300.00 13,330.00
Less: COGS 2,416.00 4,358.00 1,202.00 1,658.00 1,681.00 1,460.00 2,914.00
Gross Profit 3,834.00 6,292.00 2,798.00 6,942.00 6,719.00 7,840.00 10,416.00
Less: Operating Expenses 8,739.00 226.00 116.00 80.00 644.00 110.00 1,210.00
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

According to the Income Statement in the month of October 2022 the owners experience -4905.00 net loss,
because in that month the owners started their business and need 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
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
Inventories 785.00 385.00 570.00 530.00 363.00 730.00 290.00
Total Asset 7,035.00 13,101.00 15,783.00 22,645.00 28,720.00 36,450.00 45,656.00

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

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
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

According to Statement Of Financial Position in the month of October 2022 The total assets was 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
45,656.00.

4.5 Statement of Cash Flow

Cash Flow Statement

OCTOBER NOVEMBER DECEMBER JANUARY FEBRUARY MARCH APRIL
Cash Beginning 11,940.00 7,035.00 13,101.00 15,783.00 22,645.00 28,720.00 36,450.00
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
Total 18,190.00 17,685.00 17,101.00 24,383.00 31,045.00 38,020.00 49,780.00
Less: Cash Disbursements/Cash out
Expenses 8,739.00 226.00 116.00 80.00 644.00 110.00 1,210.00
COGS 2,416.00 4,358.00 1,202.00 1,658.00 1,681.00 1,460.00 2,914.00
11,155.00 4,584.00 1,318.00 1,738.00 2,325.00 1,570.00 4,124.00
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

According to Statement of Cash Flow the highest cash balance ended was from the month of April 2023 with
the total of 46,656.00 and the lowest cash balance ended was from the month of October 2023 with the total of
7,035.00 for month of November 2022 the cash balance ended was13,101, for December 2022 was 15,783.00,
for January 2023 was 22,645, for the month of February 2023 was 28,720.00 for the month of March was
36,450.00.
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 was (-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)

HIGHLIGHTS

5.1 Breakthroughs/Success

BIR VIRTUAL BRIEFING FOR NEW REGISTRANTS

Ms. Carmela B. Castillo one of the owners attended the BIR seminar, as a beginner in the business industry in
September 2022 she attended 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 attended 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.

SATISFIED 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

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

 The owners had face difficulty in finding a customer at first because of the location, but rather than
giving up, the owners have 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 wait 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 had a benefit for the owners because it reduces 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 was there were a lot of times that so many left cooked takoyaki that the owners need to
sell, the solutions that comes the owner’s 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 was difficult and calls for commitment and above all, persistence. Even organized
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 was also enjoyment and excitement because finally start
to managed a business, there were challenges along the way, but thanks to team work the owners would able to
address it quickly and complete everything that needs to be completed and I believed that everything was in
order.

- Ramon Nacino

This business implementation given me not only a profit or an income, but a self improvement, new
friends, family, learnings 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 were not fighting for it, so
that in this journey all the rejections from the people who were asking to buy our product and say no, net loss,
down days, no orders, group misunderstanding and tiring days was 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 was 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 was not easy 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 for 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 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