MeatBites: Exploring wings-inspired flavors for meatballs at Ugbo Street, Manila

Executive Summary a. Business Description MeatBites is a new business that makes tasty, unique meatballs inspired by the famous flavored wings. They love to experiment with flavors and aim to redefine traditional food by creating exciting meatball dishes. They use top-notch ingredients and techniques to ensure great taste every time. Their goal is to provide the best products and service, creating a delightful dining experience. Plus, they care about the environment and work to be sustainable, Their passion for food and flavor is at the heart of everything they do, from recipes to customer service b. Market Analysis MeatBites aims to maintain innovation and distinctiveness through continuous flavor development, build brand presence through effective marketing, prioritize operational efficiency, and enhance customer satisfaction. As MeatBites grows, it will explore expansion opportunities and engage with the community. Ultimately, MeatBites strives for excellence and sustainable growth. c. Marketing Feasibility The study will employ diverse marketing strategies to create awareness and reach its target audience. Utilizing social media platforms, to actively engage with potential customers and showcase products offered. Furthermore, build customer loyalty by implementing a loyalty card program. d. Technical Feasibility The wings-inspired flavored meatballs will appeal to a diverse range of customers, as it offers a variety of flavors to cater to individual taste preferences. Furthermore, the meatballs can be cooked and served quickly, allowing the business to serve many customers efficiently. e. Management Feasibility The business implemented a management system to help the staff work efficiently and effectively. This includes management structure, duties and responsibilities of the staff, salary structure, and internal control system to mitigate risks. f. Financial Feasibility The business assumes that its raw materials inventory, prepaid rent, prepaid insurance, and accounts payable will be equal to 10% of the annual usage. Profits and losses will be distributed equally, and 25% of profits will be retained for any possible expenditure. Salaries will increase by 5% yearly, and selling prices will increase by 10% yearly. g. Socio-Economic Feasibility The business will make a significant contribution to the government, society, and economy. It will create job opportunities, stimulate the local economy, and inspire other entrepreneurs in the community.

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