EXECUTIVE SUMMARY

Siomai House is a startup business in Bacolod City that aims to provide

culinary satisfaction to the students through the fusion of science and innovation. A
market research on siomai both nationwide and locally has proven that siomai is a
thriving business due to its substantial consumption figures, diverse consumer
demographics, regional flavor preferences, and affordability.

The company plans to sell three varieties of siomai: pork, beef, and chicken,
and an accompanying gulaman drink. These products contain all of the
biomolecules that our body needs for nourishment.

Furthermore, different marketing strategies will be employed to effectively

promote the business both in print and virtually.

Finally, the financial analysis shows that the company will have positive cash
flow and profit throughout the duration of the bazaar, with an expected revenue of
Php 910.00, which will be given to the company’s beneficiaries.
COMPANY DESCRIPTION

Siomai House is a newly founded company that sells a beloved Asian street
food-siomai. It was founded by five student entrepreneurs on March 1, 2024 at
Bacolod City with the purpose of bringing science and satisfaction through food.

Figure 1. Company Logo

MARKET ANALYSIS

The siomai market in the Philippines is a thriving business, characterized by

substantial consumption figures, diverse consumer demographics, regional flavor
preferences, and affordability. Firstly, statistics reveal that the siomai market in the
countru has experienced steady growth, with an estimated annual consumption of
over 2 billion pieces (Philippine Statistics Authority, 2022). Secondly, the
demographic diversity solidifies siomai's status as a snack enjoyed by a broad
spectrum of the population. In a study conducted by Roberto et al. (2023) in major
urban areas, it indicated that siomai consumption spans various age groups, with
70% of respondents aged between 18 and 35 constituting the primary consumer
base. Thirdly, market analysis also reveals interesting regional variances in siomai
preferences. While traditional pork siomai remains universally popular, regions
show distinct inclinations towards specific flavors. For instance, coastal areas
exhibit a higher preference for shrimp-filled siomai, showcasing regional nuances
in taste preferences (Alejandro et al., 2024). Finally, siomai's affordability plays a
crucial role in its market dominance. With an average price ranging from PHP 10 to
PHP 25 per serving, siomai remains an accessible and economical choice for
individuals across different income brackets.
 Locally, an initial survey was conducted among students of Luis Hervias
National High School which revealed a strong preference for siomai, indicating a
promising market for our business. Out of 50 students surveyed, 85% expressed a
high level of enjoyment for siomai, highlighting its popularity among the target
demographic. The survey also uncovered key insights into preferred flavors, with
60% favoring classic pork siomai, 25% expressing interest in shrimp-filled siomai,
and 15% showing enthusiasm for innovative and fusion siomai options. The survey
results strongly support the idea that siomai holds significant appeal among
students, positioning Siomai House well to cater to this demand with a menu
tailored to their preferences.

PRODUCT DESCRIPTION

It is the goal of Siomai House to provide a complete and healthy food to its
buyers; thus, the siomai to be solve will be composed of all the four biomolecules
necessary for health, which are the following.

Carbohydrates. The siomai's soft and thin wonton wrapper, crafted from a
mixture of wheat flour and water, provides the carbohydrates. Wonton wrappers
contains 16 g of carbohydrate per 28.35 g serving (NutritionValue.Org, 2024).
Another source of carbohydrates is the gulaman drinks that accompanies the
siomai.

Protein. The heart of siomai lies in its protein-rich filling. Whether it's pork,
chicken, or shrimp, the savory mixture delivers a punch of protein, promoting
muscle development and providing a sense of fullness.

Lipid. To add spice and silkiness to the siomai, it will be garnished with chili
garlic sauce, which is composed of sauted garlic and oil.

Nucleic Acid. Nucleic acids are present in the cells of the ingredients used in
siomai, particularly in the vegetables such as carrot and onion. These microscopic
components contribute to the genetic makeup of living organisms, adding a subtle
layer to the nutritional richness of the siomai.
 Figure 2 shows a sample product and Table 1 shows the product pricing.
Figure 3 shows a sketch of the food stall.

Figure 2. Sample Product

Figure 3. Food Stall Sketch

MARKETING STRATEGIES

In order to properly market the product, the following strategies will be

employed.

Social Media Campaign. We will use Facebook and TikTok reels and
Messenger Notes to advertise our product. We will use vibrant images, short
videos, and catchy captions to entice students during their online breaks.

Student Ambassadors. We will recruit enthusiastic student ambassadors,

within our company, to spread the word about our siomai during class breaks.
These ambassadors can engage with their peers, share their siomai experiences,
and even offer special promotions or discounts to boost interest.

Print Campaigns. We will design a visually appealing poster (Figure 4) and

brochure showcasing our siomai offerings. We will post that throughout the school
frequented by students.

Figure 4. Advertisement Poster

 Live Acoustic Performance. We will arrange for occasional live acoustic
performances during peak break hours. Live music can draw attention and create a
pleasant environment, enhancing the overall siomai experience for students.

Limited-Time Offers. We will create a sense of urgency by introducing

limited-time offers or exclusive discounts for siomai purchases during specific
class break hours.

Combo Deals and Student Packages. We will introduce combo deals or

student packages that offer a variety of siomai options at attractive prices. Bundling
items or creating meal packages can appeal to students looking for value for their
money.

Online Ordering System. We will implement an online ordering system that

allows students to pre-order siomai through Messenger for quick and convenient
pick-up during their breaks. This ensures efficiency and minimizes wait times,
catering to students with tight schedules.

Feedback and Improvement. We will actively seek feedback from students

and use it to improve our siomai offerings.

MANAGEMENT TEAMS

The company will have an Event Coordinator, who will oversee the entire
planning and the team’s performance during the bazaar. The entire team will then
be divided into four main management teams: Marketing, Sales, Operations, and
Accounting (Figure 5). Under marketing are the following: Visual Merchandizer,
Customer Engagement Specialist, Promotions Coordinator, and Collaboration
Liaison. Under Sales are the following: Sales Manager and Record Keeper. Under
Operations are the following roles: Logistics Coordinator, Feedback and
Improvement Analyst, Sustainability Ambassador, and Community Engagement
Officer. Lastly, under accounting is the Payment and Transaction Manager.
 Event
Coordinator

Marketing Sales Operations Accounting

Payment and
Visual Logistics
Sales Manager Transaction
Merchandiser Coordinator
Manager

Customer Feedback and

Engagement Record Keeper Improvement
Specialist Analyst

Promotions Sustainability
Coordinator Ambassador

Community
Collaboration
Engagement
Liaison
Officer

Figure 5. Management Teams

FINANCIAL PLAN

Startup Expenses. The startup expenses will cover the construction of the
food stall, printing of promotional materials, and the purchase of ingredients for the
business. Table 1 shows the projected expenses for the business.

Table 1. Siomai House Projected Expenses

Description Cost per Unit Quantity Price

Printing of Poster 20.00/poster 3 posters 60.00
Printing of Flyers 5.00/page 10 pages 50.00
Pork 200/kilo ½ kilo 100.00
Beef 200/kilo ½ kilo 100.00
Chicken 200/kilo ½ kilo 100.00
Wonton Wrapper 50/sachet 1 sachet 50.00
Carrots 100/kilo ½ kilo 50.00
Calamansi 30.00/kilo 1 kilo 30.00
Chili Garlic Oil 110.00/jar 1 jar 110.00
Gulaman Powder 50.00/sachet 2 sachets 100.00
 Gelatin 40.00/sachet 2 sachets 80.00
Water 25.00/jar 2 jars 50.00
Siomai Plates 75.00/bundle 1 bundle 75.00
Toothpick 25.00/container 1 container 25.00
Cups 110.00/bundle 1 bundle 110.00
Total Expenses 1090.00

Pricing Strategy. We are planning on selling four varieties of siomai and a

gulaman drink. The pricing is shown in Table 1.

Table 1. Product Pricing

Product Pieces Price

Pork Siomai 3 pcs Php 25.00
Beef Siomai 3 pcs Php 25.00
Chicken Siomai 3 pcs Php 25.00
Gulaman 1 cup Php 10.00

Projected Revenues. Assuming the ingredients above can create 180 pieces
of siomai (60 pork, 60 beef, and 60 chicken) and 50 cups of gulaman, the following
revenue can be projected.

Table 1. Projected Revenue

Pork Siomai Php 500.00

Beef Siomai Php 500.00
Chicken Siomai Php 500.00
Gulaman Php 500.00
Gross Income Php 2000.00
Expenses (Php 1090.00)
Profit Php 910.00