Go Fit with Donut: A feasibility study on camote donuts, a healthy twist

EXECUTIVE SUMMARY: Name of the Company Glazed Corner The business name is Glazed Corner. The researchers chose this name to describe a popular pastry, which is doughnuts, since this is the main product of the business. Doughnuts are made in different ways, which actually catches the eyes of customers because of how creatively they can be presented. Glazed donuts are one of those examples, a glaze is a coating applied on donuts by dipping, dripping, or using a brush, and glazes come in a variety of flavors ranging from plain or chocolate to maple and beyond the imagination. With this, the researchers set the word "Glazed" as part of the business name. On the other hand, the word "Corner" typically means a place. Also, the word corner is used as an idiom meaning "not far away" which can be easily spotted in a well- known area. This reached a consensus among the researchers to combine, and it was finally decided to make "Glazed Corner" the name of the company. Company Logo Each element of the logo plays a vital role in the eyes of the business proponents and was carefully planned in detail. The researchers illustrated the design of the business logo as cheerful and vibrant, which makes every customer interested in the product, like how a famous donut business caught their attention. On the one hand, the visual identity of the donut shop looks interesting in a vibrant way. Therefore, the Glazed Corner logo clearly says to order healthy but not boring doughnuts. Second, the fonts used can evoke a more casual, fun, or unique look and feel. The proponents want their customers to feel special about every piece of Glazed Corner's donut that they have. Third, the color palette of the Glazed Corner visual identity was focused on pink or fuchsia because the researchers firmly believed that bright and warm pinks, such as fuchsia or magenta, are vibrant, youthful, and encourage a sense of confidence. In this logo, the touch of pink communicates friendliness and a sense of delight to attract diverse kinds of people, especially children who are not familiar with healthy kinds of doughnuts. Lastly, the purple glazed fling in the center of the doughnut represents the camote or any different kind of vegetable to make doughnuts healthier. Location of the Enterprise Our study, Glazed Corner, presumes to be located in Binondo, Manila, as it is the most suitable place that will correspond to our strategic plan and objectives. Since, we are aiming to provide products that are perfect for all ages, the researchers have decided to sell the products of Glazed Corner specifically at 665 Sta. Elena Street in front of BDO Divisoria near 168 shopping mall because the area is known to be the main marketplace for all ages. It is a crowded place that has retail and wholesale shops where everyone seeks to find quality and inexpensive products. Since we are in the retail industry and a start-up small business, we will not have our own property:, instead, we are renting a location that is convenient and accessible to many opportunities. If the project established is proven to be feasible, Glazed Corner plans to broaden its venture to different areas around Metro Manila. Description of the Business Glazed Corner isa donut shop in which the dough for the donuts is made from camote (sweet potato). The business would provide varieties of camote donuts, such as donuts with assorted flavors of filling and glaze. Camote donuts are geared towards providing the target market with pastries that would bring satisfaction for customers of all ages, since they are a healthy and flavorful alternative to traditional donuts as sweet potatoes are packed with vitamins, minerals, and fiber. This is also the reason the business tagline is "Go Fit with Donuts". Besides being healthy, the business also seeks to make their products affordable, so the donuts can be bought by piece or a bundle. Glazed Corner also aims to support local products by using camote as their main product and support local farmers by directly buying from them. Long-run Objectives The study intends to determine the feasibility of putting a Glazed Corner stall in Divisoria with the goal of bringing to the market healthy donuts that would be open to all ages. Glazed Corner aims to promote healthy pastries, in which it seeks to expand its product line from donuts to more different pastries, and from camote to other healthy products such as vegetables and fruits that will support healthy and delicious pastries. It also wants to expand its location throughout Manila and the country, which, of course, would result in an achievable profit. Furthermore, Glazed Corner will try to discover new capabilities and the availability of healthy ingredients and chosen pastries in order to improve the business's product line. At the same time, the business also aims to continually support local products in the long run by directly buying from local farmers. Highlights of Major Assumptions Glazed Corner assumes that there is a spot in Divisoria to build the business where many potential customers would notice its location. The business also assumes that there are many customers of all ages who like pastries, specifically donuts. They also think that the traditional donuts are not suitable for everyone, especially for those who are not allowed to eat sweets (medical reasons) or do not want a too-sweet food. With this, the researchers made some twists to make the product suitable and can be eaten by everyone by using camote as the dough for the donuts. The researchers also believe that with a known location and healthy products, the business would impact the market and gain many customers, resulting in a profitable business that will also open doors to expand and improve the product line. Moreover, in establishing Glazed Corner, the source of finances will be the shared contributions of all business partners. Aside from this, the owners will apply for a bank loan, which will serve as another source of finance to operate the business. Lastly, it would take seven (7) months to build the Glazed Corner as the researchers focus on accomplishing all the necessary steps and documents that are needed, such as registration, promotion, and such. Summary of Findings Management Summary The business developed a management program in which it helped the employees work at a fast pace since there are divisions in tasks and sections organized depending on the customer's order. The workers are being trained to maximize their competency and capability, and there are also policies and rules that were implemented to build a productive and efficient business. The mission of the business is to offer delicious and healthy pastries, giving everyone an instant satisfied feeling. Whereas the vision is to establish its reputation as a leading local healthy alternative donut shop, and the core values only focus on the priorities and beliefs of the company. This aspect also covers the stages of registering a business, wherein all the processes are necessary to accomplish for the business to operate. Some steps are to secure the business name, register with the Bureau of Internal Revenue (BIR), and many more that were elaborated in the chapter. The business organizational structure illustrates the few levels of management depending on its departments while the profile of the business owners (partnership) indicates some personal information about the five (5) owners. Further, this chapter also includes the job specifications and qualifications, it enumerates each job position and job requirements that are needed to operate the business. It also mentioned the different expertise that a business needs and the compensation and benefits of employees; it disclosed the rights that each employee must have, such as holiday pay, 13th-month pay, and so on. The internal control indicates the different ways of monitoring and controlling activities. Moreover, this chapter consists of the offenses and penalties that will be impOsed on those who break the rules, and lastly, the business considered implementing a "Status and Timetables of the Project', which shows the timeline of establishing the business from creating a feasibility study up to the start of operation. Marketing Summary Glazed Corner will focus on selling camote donuts plain, filled, (four flavors), and glazed (four flavors). For its packaging, paper bags are used for donuts bought per piece, while box packaging is used for those customers who seek to buy six (6) donuts that can be served online and onsite at the business. The Market Differentiation of Glazed Corner is its product, camote donuts, which are healthier and an alternative to most donuts that are overly sweet. When it comes to the market environment of the business, it considers four main factors: demographic, technological, economic, and natural. While the market segmentation was considered, demographic and psychographic factors were also considered. For the market target, Glazed Corner chose residents of the NCR (National Capital Region) that are visitors and/or workers in Divisoria since this is the location of the business. For market positioning, the close competitors are Dunkin' Donuts, J.CO Donuts & Coffee, Krispy Kreme, Happy Haus, and Mister Donut. 4Ps (Product, Place, Price, and Promotion) were used as the marketing strategy of the business and lastly, SWOT analysis was also considered to identify the internal and external factors of the business. Technical Summary The technical aspect concludes the products of the business, which are camote donuts with eight varieties, four fillings (bavarian, ube, yema, and cheese), and four glazes (chocolate, coffee, cinnamon, and sugar glaze). The process of the camote dough, fillings, and glazes was also described until it reaches its packaging. The business considered two selling processes, one for its physical store and the other for online delivery applications/websites. The Inventory Flow Chart can also be viewed in this aspect, in which it shows that it is being handled by three departments: Financial Department, Kitchen Department, and Commercial & Marketing Department. Glazed Corner was also able to determine its suppliers and costs in Machineries and Equipment, Office and Store Supplies, Furniture and Fixtures, Menu costing, and Utilities which helped determine the business product pricing from its profit margin which is 30%, and economic pricing, which is 12 pesos. The business also took into account creating a site location analysis, which looked at three factors: nearness to the target market, raw materials accessibility, and availability of basic utilities. This concludes the business's quest to finally determine its floor layout and perspective of the physical store, along with the idea of the employee identification card and uniforms, and the operating schedule of Glazed Corner, which is 10:00 a.m. to 7:00 p.m. from Monday to Sunday. Financial Summary Glazed Corner was able to identify sources of financing to build the business, which are personal assets and savings as the major sources of business capital. The business contributed sufficient funds to finance and establish the proposed business. Moreover, the company is expected to gain 95% in the first year and 8%, 5%, 9%, and 5% in the subsequent years. These data imply that Glazed Corner can be viable in the market over the following five years. Despite the discrepancies, the business is profitable after the projected year. Socio-economic Summary This study determines the socio-economic aspects of its benefits and where the company specifically has an impact. Glazed Corner, offering a donut product that is made out of camote (sweet potato), influences society through its cultural context, providing support to the local farmers and encouraging individuals to be healthy. This also brings contributions to the economy, pertaining to employment opportunities and demand for raw materials. Considering these contributions, they assist in bringing additional income to the government for reasons such as taxes. Glazed Corner's operation will exist with the help of its internal factors, and the company also aims to present an advantageous outcome in establishing its business through its operation that could help with attaining success.

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