A Feasibility Study on Filipino style baked sushi in Sampaloc, Manila

EXECUTIVE SUMMARY: Name of the Company The Baked Locale is a Manila-based company that was established in 2023. The company's owners are into Japanese cuisine and take immense pleasure in enhancing and adapting Japanese dishes into a Filipino style. The business itself "baked" and "locale", as this Japanese dish has been adapted and will be made in a Filipino-style baked sushi as the main product, contributed significantly to the business name "The Baked Locale". Company Logo The logo that the researchers designed consists of the company name "The Baked Locale", and an icon of baked sushi that represents the product the company is offering. The researchers used green, orange, and black as color palettes in view of the fact that it emphasized the color of the main ingredients used in baked sushi. Thus, this logo will be the identity of the company that will be embarked on the market. Location of the Enterprise The business will be situated at 1205 Delos Reyes St. corner Padre Noval St. Sampaloc, Manila. Due to its accessibility to the researchers, the proposed business location was chosen, along with the easy access on public vehicles that makes it simple to access the busy commercial streets of Manila. Further, the area offers a wide range of food options and is well-recognized for having a variety of distinctive eateries that attract customers, specifically, students. Description of the Business Many individuals now like baked sushi, which has become quite popular in society. With this, operating a business in the food industry, particularly baking sushi, is fascinating. The food industry's newest startup, The Baked Locale, was established in February 2023. It is managed by five investors who each possess a maximum amount of liability that can be imposed which is limited to the value of the shares. The Baked Locale provided high-quality, affordable Filipino-style baked sushi. The location of the business will be at 1205 Delos Reyes St. corner Padre Noval St. Sampaloc, Manila, which is well known for its selection of food stalls and reasonably priced fare. The Baked Locale seeks to offer baked sushi with a Filipino-style twist to build a fresh concept for this kind of food business that would attract customers easily for the particular flavors of Filipino cuisine. With a choice of toppings and wrappers, customers may enjoy baked sushi produced through the style of the Filipino cook. The Baked Locale is the response to an increasing demand for snack-type food to be consumed by consumers who want different variations of baked sushi. The Baked Locale's mission is to provide the best quality baked sushi in a Filipino style. The business upholds its commitment to offering consumers reasonably priced, high-quality baked sushi made in the Filipino manner in order to increase customer happiness. Whereas, The Baked Locale's vision is to surpass its own achievements by uniting under a single common dedication to exceptional quality in order to grow into a well-known Filipino-Japanese culinary company. The locally baked goods will advertise local products and build a successful business. Being trustworthy, adaptive, and passionate are principles that should drive the Baked Locale. Together with the financial contributions from the stockholders, the funding will enable The Baked Locale to launch and grow effectively. Through the innovation of its founders and the first financial commitment, the company will be able to provide its customers with an engaging, value-driven experience. With its cutting-edge setting, freshly cooked baked sushi, and unique range of casual Filipino log meals, The Baked Locale will encourage young individuals to invite their friends and families. Long-run Objectives The Baked Locale would like to give emphasis and aim to improve its business through long-term objectives. Whereas, these are the following objectives of the Baked Locale Company: 1. Promoting baked sushi Filipino-style dishes among local businesses and markets, to support Filipino products; 2. Expansion of the business through franchising wherein it aims to improve products and services and to make profitable that will sustain the operations; 3. To be well-known Filipino-style baked sushi among other competitors, recognizing the elegance and flavors of Filipino cuisines. Highlights of Major Assumptions Marketing Aspect The researchers' target market is the people living in the city of Manila, specifically in Sampaloc, Manila. The prices offered by this product will be based on the price range of different products used for this study and will be on par with those of its indirect competitors, which can help the researchers enter the market easily. The products will benefit from publicity by becoming more well-known due to the large number of residents in Sampaloc, which will expand the business market in the future. Technical Aspect In the technical feasibility assumption, the researchers provided the local goods, technology, and equipment needed to produce the products readily available. Financial Aspect The feasibility of the project's profitability is presented in peso terms as part of the research, which also includes the results of the marketing, technological, and managerial analyses. The financial element of the project must account for all receipts and expenses. Cash management, responsible financing and investment strategies, treasurership, and controllership are all required. Organization and Management Aspect Management of the built environment must be entirely consistent with the concepts of ethics. The study aids in selecting the organizational structure of a business, setting up employees, and developing internal procedures. The company will maintain and establish a solid management team that will be accountable for the establishment of effective business policies that will direct the company toward the achievement of its goals and objectives. Summary of Findings Management Aspect The Baked Locale is the business name established by five proprietors under a private corporation, offering new variations of baked sushi namely Baked Chicken Inasal, Baked I-Bangus, and Baked Sisig Tofu. As part of the management aspect, The Baked Locale is committed to achieving its mission and vision, conceptualizing as the first local business to provide elevated baked sushi with the taste of Filipino dishes. Moreover, The Baked Locale provides and agrees to the set of rules, policies, and regulations that the members of the organization must adhere to, specifically, Republic Act 10611 also known as the Food Safety Act of 2013. As part of the selection process, The Baked Locale also provides qualifications for each position that the applicant is aiming for. In addition to that, the organization pledged to perform its duties and responsibilities in molding the character of the employee or members by giving proper training and seminars. With that, this management aspect of The Baked Locale, contributes to the objectives of the business as well as to its performance in the long run, being an effective and efficient organization handling the business itself. Marketing Aspect The potential target market of this venture is the residents, students, and employees residing and/or studying in the vicinity of Sampaloc, Manila. Targeting the population aged 18-30 years old, and considering the survey result, The Baked Locale has an advantage in entering the baked sushi market. Furthermore, The Baked Locale products will challenge other businesses offering baked sushi such as Tokidoki Baked Sushi, and Rarjap Sushi Bake by conducting an effective market strategy, brand advertising, and sales promotion, targeting potential customers in the market. Statistically, the projected GAP from the two competitors to overall supply is computed as one million unsatisfied demands. This means that baked sushi, an original taste of Japanese cuisine, garnered huge value among Filipino customers. With that, introducing Filipino-style baked sushi under the business name of The Baked Locale can contribute to the demand market for baked sushi with a new taste. Consequently. the demand and supply analysis had a significant role in producing quality and generating potential business growth by taking into account the opportunities and strengths of the business. Having said that, the market aspect of the paper determines the objectives set by the proponents of the business. Financial Aspect Establishing and starting a business requires an adequate amount of money or capital. The Baked Locale, handled by five proprietors under a private corporation, Ms. Soriano invested 30% of 5,000,000.00, followed by Ms. Hucamis, 25% of 5,000,000.00, Mr. Dayang, 20% of 5,000,000.00, Ms. Canlas, 15% of 5,000,000.00, and Ms. Dac-dac, 15% of 5,000,000.00. As computed in the Initial Project Cost, the total pre-operating activities of The Baked Locale is 1,001,138.80 pesos of which the remaining cash balance will be 3,998,861.20 pesos. The Baked Local looks forward to its operation and reaching its objectives specifically, expanding its operation through franchising benefiting the business by providing quality products and making it profitable in the long run. Technical Aspect Producing Filipino-style baked sushi needs raw materials and equipment. The basic materials in producing quality Filipino baked sushi are chicken, milkfish (bangus), tofu, rice, mayonnaise, lettuce, nori, and condiments to taste. The Baked Locale offers three variations of baked sushi at the same time it serves in three sizes which it has correspondent prices. For instance, the baked chicken inasal solo size costs 110 pesos; buddy, 170 pesos; and the family size for 305 pesos. Moreover, for baked i-bangus solo, it costs 115 pesos; buddy, 160 pesos; and family size, 330 pesos. While in baked sisig tofu solo size, the price is 125 pesos followed by the buddy size for 180 pesos, and for the family size, 280 pesos. On the other hand, the equipment listed in this aspect is the following: refrigerator, griller, electric stove, and rice cooker. The above-mentioned materials and equipment are among other things that are necessary for the business. Meanwhile, the operation of the business is from Monday to Saturday, starting at 10:00 AM, and ending at 7 in the evening, which requires employees to follow the measures in sanitation and safety as stated in the Management Aspect as well. The Baked Locale also has a partnership with Food Panda to deliver the products to the customers. Socio-economic Aspect The contribution of The Baked Local has an impact on different aspects of society, government, and in the economy. Employment opportunities, contribution to government projects through paying an exact amount of tax, and supporting local dishes are among other important notes that The Baked Local is devoted to taking part in the job market.

Filipiniana