Chef Royale: A feasibility study of meal creation kit business located at Fort Bonifacio, Taguig City 6

Feasibility Study: (BSBA major in Marketing Management) - Pamantasan ng Lungsod ng Maynila, 2023 56

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Executive Summary: a. Business Description The proposed business is a ready-to-cook delivery service, It is a food service that provides customers comfort and convenience by delivering pre-portioned ingredients at their doorsteps. The firm aims to provide every household with the opportunity to eat delicious, home-cooked meals with no hassle and without the need to shop in physical stores. Truly, making meals has never been this time-saving and enjoyable with just a click. The proposed business namely Chef Royale since the firm also offers Chef-Tailored Meal Creation Kits and Recipes that have a guaranteed premium quality and taste, the business partnered chefs provided their best recipes to be used and prepared by the Chef Royale for the customers while simultaneously promoting the taste of Filipino home. Chef Royale's tagline, Reigning freshness at your doorsteps. illustrates the company's convenience with the excellent service and fresh recipes offered by Chef Royale. b. Market Analysis The size of the market in Taguig and Makati city is 462,802 opportunities, requiring 387,241 home-cooked meals per annum on average, valued up to Php 63.8 Million in share. Much of the local population is the target market for the business; thus, the numbers are predicted to increase. A key driver of the growth of the Meal Kit market revenue among millennials, generation X, and the mature market is their increasing demand for home-cooked meals, as well as their increasing disposable income and inability to prepare full meals, all of which will encourage market expansion. Chef Royale serves the busy professionals, parents, and the health-conscious market both male and female, from the age of 20 to 50 years old that belong to the upper middle and rich class residing in Taguig or Makati City who do not have the time to buy, prepare, and portion ingredients for cooking. They either end up eating out which is unhealthy and expensive or eat poor quality food like fast food and frozen food. Everyone wants to eat healthy, but it is too time consuming and not convenient. As the market for these increases, so does the competition. Based on proximity and similitude of the products or service offering, Kook It Manila and Online Palengke are the direct competitors, and Smart Meals, Daily's Diet and Yummy Diet Ph are the indirect competitors. c. Marketing Feasibility The proposed business's location is at Chino Roces Ext., Fort Bonifacio, Taguig City because Chef Royale aims to penetrate the market with upper middle class to upper class. Moreover, Taguig City is known as the second-most significant business district in Metro Manila, a popular tourist destination, dining, shopping, and entertainment hub. Along with its highly urbanized neighboring cities such as Makati, it will be the most appropriate area to place the business. As a meal creation business, Chef Royale has a wide variety of products offered for the whole week to give more choices and freedom for customers to customize, and plan their meals of the day. There is a total of 26 dishes that will be categorized into breakfast, lunch, dinner, and low carbohydrates options. Customers may create and avail their meals through a pre-order system. Meal variety will be served in 2-3 pax amounting to Php 299.00 and 4-6 pax for Php 389.00. The unique selling proposition of the business is Chef-tailored recipes with the taste and experience of a Filipino home. Chef Royale will focus on delivering fresh from the farm ingredients to deliver door to door for the client's convenience of picking out the right and healthy meals to enjoy with their loved ones. The perfect portion of every ingredient of your meal creation kit will bring out the inner chef in you. To communicate the brand and market the product to the people, the business will social media and digital advertising using Facebook, TikTok and YouTube social platforms. Also, print ad and freebies, voucher system will also be given out for the target market to benefit from. The researchers believe that the business will expand and grow from utilizing the following marketing activities. d. Technical Feasibility Meal kit creation is a food delivery service that will provide a large selection of meals that are divided into breakfast, lunch, and dinner. Customers can order one meal or make meal plans for the week on the company's website based on their preferences. Each week, two meals will be featured, each with ten different dishes. The company will also launch a maximum of 4 different Dish of the Week variants. Customers can take advantage of the benefits provided by the company, including pre-ordering and scheduling meals across menus, no transactional limit, and full access to the website. Additionally, they can ask for more, less, or remove some ingredients. The business hours are Monday through Saturday, 8 am to 5 pm. The delivery hours are from Monday through Saturday from 9 am to 12 pm for lunch or dinner and from 2 pm to 4 pm for low carb or breakfast. The deadline for collection of orders is 36 hours before the delivery date. Order cancellations are only accepted up to 24 hours before the scheduled delivery. The business uses a food processor, gas stove, kitchen utensils, and other sturdy machinery to simplify and ease kitchen tasks. Fresh fruits, vegetables, meats, and seafood will be available daily from a local supplier. The supplies will be watched over as well in order to replenish them and provide enough. Electricity, water, and internet will all be acquired and paid for as necessary. The meal kits will be delivered to the customers by hired riders. e. Management Feasibility This section explains the job and responsibilities, authority structure, and personnel requirements. The core element of management is that each action or choice should advance achieving a clearly defined goal. Chef Royal uses a general partnership form of business organization. Chef Royale will be established as a general partnership with ten (10) individuals. All partners are personally liable for all business debts and share responsibility. Each general partner is responsible for the company's assets and liabilities. The organizational structure comprises the Financial Manager, Marketing Manager, Operations Manager, Administration Manager, Marketing staff, Sales, Customer service, Auditor and Kitchen staff, Packager, and Delivery rider. The pre-operating activities were performed from November 2022 to the last day of April 2023. The operation of the business will commence in May 2023. It has complied with the legal requirement set by the governing body. It is also qualified to form a company that provides Chef Royale the accreditation given by the Department of Trade and Industry (DTI) and Bureau of Internal Revenue (BIR) and by the business permits issued by the Local Government Unit of Taguig City. f. Financial Feasibility The agreement of each general partnership partner's share and dividend, as well as other matters relating to Chef Royal's financial capabilities, were all addressed by the financial feasibility. It is assumed that the members of the partnership that will provide the starting capital and the one that will be managing the business are all qualified professionals and not just students. The total capital needed for the business to run is approximately Php. 4,000,000. The ten partners will allocate Php 400,000 each for their share, in return they will share among themselves 75% of the income of the business, it is also agreed by the partnership to not get the allotment in the periods that the net income is negative (net loss). The demand in the target area as well as the supply that the business can provide is the basis of the sales of the business when making the projected financial statements of the business. Further information about the feasibility in the financial aspect of the business will be on section 6 of the paper. g. Socio-Economic Feasibility This aspect focuses on Chef Royale's socio-economic contributions to the government, the economy, and the society. The tax is what the proposed project will pay back to the government. Since taxes are the government's primary source of income, every firm is responsible for paying them promptly. As it will benefit the nation's communities and farmers, the proposed project also boosts the economy.

Additionally, offering employment may open new career opportunities. The suggested project encourages healthy lifestyles, which society needs. It will provide its customers with natural and fresh meats, veggies, and fruits. Lastly, Chef Royale will emphasize Filipino cuisines to maintain and promote them among other nationalities and in the hearts of Filipinos.

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