Tiredals partnership: A feasibility study on tire sandals 6

Feasibility Study: (BSBA major in Business Economics) - Pamantasan ng Lungosd ng Maynila, 2023 56

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Executive Summary a. Brief Description of the Study Tiredals aims to create an innovative and valuable product and solve the environmental problem with sandals with tires as their outsole and wear-out tire interiors as their upper. The sandals will come in a variety of styles. Its sole will be composed of a thin, elastic foam known as EVA FOAM Sheet. EVA FOAM sheets are utilized in the soles of footwear because they are non-toxic, flexible, and will adhere to the worn-out tire outsole. The sandal will be at least a centimeter above the ground. Females will be able to purchase the sandals in sizes 5 to 9; half-sizes will not be included in the production. The sandal will first be offered in black, which is the standard color for tire interiors. The sandal will soon be available in various colors and styles but it will remain entirely constructed of worn-out tires and interiors. b. Market Analysis Tires are used extensively in the construction of these sandals. Social media users are the primary target of the business marketing efforts. Tiredals objective is to determine the business's target market, identify the competitors, create the marketing plans and strategies that the business will implement, offer the product to the intended market, and sustain the business's stability. To summarize, marketing analysis determines how the product will be offered in the marketplace. This aspect covers demand and supply as well as sales projections. This section will also discuss the product, pricing, place, promotion, marketing program, selling organization, storage facilities, and other marketing techniques regarding the product and the business in the marketplace. The market analysis will provide answers to the following questions in order to establish the Tiredals Partnership's capability in the field of marketing: 1. Who is Tiredals' target market? 2. Who are the competitors? 3. What marketing strategy will Tiredals implement? 4. How will the business and its products be introduced to the intended market? c. Technical Feasibility A footwear brand, Tiredals, combines the concepts of tires and sandals into a single product. Tires are the product's principal component, and the shoes sold under the brand name Tiredals are designed to cut down on the number of waste tires produced. On Governor's Drive, within the province of Cavite, the manufacturing facility and main office of Tiredals can be found just in front of the Terra Verde Residence. This location is within the municipality of Carmona. To learn more about Tiredals in terms of the product or service, production, production schedule, plant size, machinery and equipment, plant structure, raw materials and supplies, utilities, and waste disposal. In other words, it will describe how Tiredals operate or accomplish their functions. This section of feasibility study will discuss the technical aspect through answering the following questions to determine, develop, discuss, and justify the business's feasible geographic location, production schedule/activity of the business, and essential components needed in the production: 1. Where is the feasible location for putting up the business? 2. What is the appropriate size location of Tiredals? 3. What would be the suitable firm's layout? 4. What would be the effective and efficient flow of production? 5. What are the raw materials, equipment/machineries needed to produce a quality product? d. Management Feasibility The purpose of management feasibility is to identify the advantages and disadvantages of a potential or existing business initiative logically and objectively, the opportunities and risks posed by the environment, the resources needed to carry it out, and ultimately the likelihood of success. Its goal is to evaluate whether the project satisfies specific criteria. The most crucial factors are whether the project is feasible regarding technology and cost and whether it is likely to increase future earnings for the business. Thus, it will discuss the forms of business ownership, capitalization, organizational structure, manpower requirements, compensation, organizational policies, and legal requirements of Tiredals. The management aspect of the feasibility study will answer the following questions to determine and define the business implication of what responsibilities of the officers and key personnel, form the organizations, form of ownership, organizational chart, and project schedule: 1. What is the role of the investors in Tiredals? 2. What are the requirements for the employees and the specific responsibility? 3. What actions will be performed out before, during and after the operation period? 4. What is the time table of the business? e. Financial Feasibility Tiredals partnership intends to invest the founders' money as the company's capital. Tiredals partnership also includes the pre-operational expenses needed to properly launch the firm, such as equipment, raw materials, and packaging costs. Aside from the partners' investments, there are no other sources of capital. As the conclusion of all previously researched areas, this section of the study applies those words in a financial sense through operations and predictions. To sum it up, the financial feasibility report aims to describe Tiredals' financial aspects, mode of financing, project costs, income statement, statement of cash flows, financial position, and shareholder equity changes. The financial aspect of the feasibility study will answer the following questions to determine what will be the financial capacity of the Tiredals Partnership: 1. How much will be the capital contribution? 2. Will our capital be that much for us to start Tiredals partnership? 3. Do we need to take out loans from banks or other lending institutions? 4. How can we sustain the Tiredals partnership while meeting operating expenses in the coming year? f. Socio-Economic Impact Tiredals offers or provides eco-friendly sandals made from worn-out tires to achieve a sustainable economy and environment for a developing country. Thus, Tiredals aims to establish how the business influences the economy, including employment, income, and market share, and to determine how Tiredals impacts society, including the government, households, and communities, as well as the social repercussions. In conclusion, the socioeconomic feasibility study intends to detail Tiredals socioeconomic features, economic responsibilities, competitiveness, and social. The socioeconomic part of the feasibility study will address the following questions to assess, explain, and justify the commercial ramifications of the company's possible influence on the local community, society, and economy: 1. What benefits will be establishing this kind of business provide to the government and the country? 2. What is the community gain from Tiredals? 3. How will Tiredals contribute to the development of the economy?

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