Gubatana, Stephen Paul D., Ledesma, Rob Stifencyril M., Mahinay, Andrea M., Moring, Rhea Nice P., Nones, Jefferson L., Sanchez, Erica Jane S., Toralba, Precious Grace O. 4 0
Going Bananas: A feasibility study on banana cultivation 6
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Gubatana, Stephen Paul D., Ledesma, Rob Stifencyril M., Mahinay, Andrea M., Moring, Rhea Nice P., Nones, Jefferson L., Sanchez, Erica Jane S., Toralba, Precious Grace O.
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Feasibility Study: (BSBA major in Business Economics) - Pamantasan ng Lungsod ng Maynila, 2024
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PROJECT STUDY: A. Highlights of the Project This study focuses on Going Banana Farm, located in Tres Cruces, Tanza City, Cavite. It examines the feasibility of cultivating Saba bananas, providing details about the farm's name, logo, location, business type, and the study's objectives. Name of the Firm The name Going Bananas was chosen to reflect the company's focus on Saba banana farming and its mission to support local communities. The playful and energetic name symbolizes the firm's commitment to providing high-quality bananas while encouraging local farmers to engage in sustainable agricultural practices. The name Going Bananas embodies the company's dynamic spirit, emphasizing both the production of a staple crop and the empowerment of local farmers by providing them with steady livelihoods through the cultivation of Saba bananas. The Going Bananas logo is designed to be fun, inviting, and deeply connected to the brand's mission of promoting local Saba banana production. Each element of the logo carries symbolic meaning -- the two bananas are animated with expressive, friendly faces, representing the approachable and community-focused nature of the business. Their quirky, cartoonish appearance adds a playful vibe, making the brand memorable and approachable, especially in promoting Saba bananas to a wider audience. The brown circle surrounding the design symbolises the earth and the soil, connecting the brand to its agricultural foundation. The green and yellow color scheme is vibrant and natural, representing freshness, growth, and the high-quality produce the firm aims to cultivate. Overall, the logo was crafted to convey a sense of fun, community, and sustainability while staying true to the firm's core mission of promoting high-quality Saba banana production. The lively banana characters invite engagement, while the natural elements reflect the company's agricultural focus and commitment to the local community. Nature of the Business Going Bananas is dedicated to the cultivation and production of high-quality Saba bananas, contributing to the local economy while promoting sustainable farming practices. The farm aims to support local farmers by providing them with employment opportunities and helping them improve their agricultural skills. Going Bananas focuses on producing fresh, nutritious bananas for local and regional markets, ensuring a consistent supply while emphasizing environmental sustainability. Beyond its business operations, the company strives to enhance the local agricultural landscape and strengthen community resilience through responsible and innovative farming practices. B. Brief Discussion of the Project The Going Bananas study focuses on addressing the supply challenges of high-quality Saba bananas in Tanza, Cavite. Despite the increasing demand in local markets, the province struggles with low supply levels, prompting resellers to source bananas from other provinces such as Cagayan Valley, Davao Region, and Quezon Province, Bicol, and Cebu. This situation not only affects market dynamics but also limits opportunities for local farmers. The study aims to enhance the availability of Saba bananas within the community by establishing a sustainable supply chain that directly benefits local farmers. By empowering these farmers, the initiative seeks to improve their livelihoods and foster economic growth within Tanza. This approach not only supports local agriculture but also strengthens community ties by ensuring that residents have access to fresh, locally sourced produce, ultimately promoting food security and economic resilience in the area. C. Project Summary i. Marketing Aspect In the marketing aspect, the researchers outlined the market analysis, competitiveness of the market, market consideration, marketing program, market description and the competitors for the feasibility study. They also discussed the marketing strategies that will support business profitability. Along with demand and supply analysis, sales projections are provided to help determine the business trajectory. The marketing aspect of the study focuses on packaging, promotional strategies, sales methods, and distribution. The business utilizes cost-effective packaging to ensure product protection during transportation. It employs promotional tactics such as offering free shipping within the local area to attract customers. The sales model is based on direct business-to-business transactions, with flexible payment terms tailored to retailers. Distribution is carried out through local markets and vendors, ensuring wide reach and availability. To maintain product quality, efficient transportation and proper storage facilities are utilized, ensuring the bananas remain fresh for sale. ii. Technical Aspect The technical aspect of the study is composed of the market's size, scope, definition, development, plant size, farm location, and layout. It also discussed the firm to run most effectively in doing the production process, specifically the land preparation setup, followed by planting, maintenance, and harvesting. The production process stems from the insights shared by Mr. Tom Andrew Climacosa, a farmer of Saba in Tanza, Cavite. His contributions from a detailed interview provide a foundational understanding of the farm's meticulous approach. iii. Management Aspect The management aspect of the study is composed of capitalization, organizational structure, workforce requirements, pay, organizational policies, and other regulatory requirements Furthermore, it focuses on the illustration of ownership, where the Going Bananas, Legal status is in the form of a partnership. Furthermore, all partners have business positions, and they have agreed to contribute equally. The farm operates as an agricultural business within a component city based on the Cities and Municipalities Competitiveness Index, 2024 of the Department of Trade and Industry (DTI), the initially anticipated minimum wage, in line with Wage Order No. IVA-21 was set at P465. However, being registered as a Barangay Micro Business Enterprise (BMBE), Going Banana is exempt from adhering to and instead abides by the wage advisory issued by the Regional Tripartite 73 Wages and Productivity Board (RTWPB), which establishes a P425.00 minimum wage under Section 8 of R.A. No. 9187 with a consistent upholds of a 10% annual wage increase. iv. Financial Aspect The financial section of the paper analyzes the projected outcomes of implementing the project, aiming to achieve the forecasted sales of saba banana within the target market and location. Income will be derived solely from the product's net earnings. Moreover, financial assumptions, income statements, and capitalization details are included to promote transparency and account for economic changes or unforeseen events that may impact project operations. The financial aspect of the study outlines the Initial investment, sources of capital, projected expenses, and financial performance over a five-year period. The initial capital of P700,000 will be provided by the owner through personal savings. The projected operational costs include legal permits, utilities, equipment, and salaries, with a total investment of P4,505,663.08. The income statement forecasts steady revenue growth, with net profits reaching P2,422,341.23 in 2024, increasing each year. The financial analysis shows a payback period of approximately 9 months, and a return on investment (ROI) ranging from 3.46% to 4.45% over the first five years. The projected balance sheet highlights assets and equity growth, with cash flow steadily increasing. Potential financial risks include market fluctuations, unexpected expenses, and environmental challenges, which the business plans to mitigate through diversified crop strategies and operational adjustments. v. Socio-Economic Aspect The socio-economic aspect of the study is composed of several key elements highlighted in the Going Bananas. It focuses on support for local farmers by providing high-quality Saba bananas and stable income, which reduces economic hardships and enhances productivity. The project also aims for competitive pricing to keep bananas affordable for consumers while ensuring profitability for farmers. Moreover, it also highlights the empowering of local producers through improved farming techniques and reduced post- harvest losses which fosters community pride. Finally, the initiative is committed to environmentally sustainable practices, minimizing negative impacts and ensuring long-term agricultural viability for future generations.