Barbosa, Mark Joseph G., Guzman, Samuel Jeremy C., Sequerra, Francis Maui E., Syster, Domingo III D., Toribio, Caselyn E.
Feasibility study CIneGrill: Establishing a Korean BBQ Restaurant with in-house streaming service in Vito Cruz, Malate, Manila
- Feasibility Study: BSBA major in Marketing Management) - Pamantasan ng Lungsod ng Maynila, 2024
Executive Summary The executive summary of the feasibility study provides a concise introduction, summarizing the report's purpose, content, key findings, and recommendations for reader's easier comprehension without the need to delve into the full study. I. Name of the Company "CineGrill" perfectly encapsulates the essence of our innovative Korean BBQ restaurant. The name combines 'Cine,' a nod to the cinematic experience, with 'Grill' highlighting the heart of our culinary offering which is cooking with direct heat source. At CineGrill, we offer a unique dining experience where customers can savor delicious Korean BBQ dishes while enjoying movies or series. The fusion of delectable cuisine and cinematic entertainment makes CineGrill a standout destination for foodies and film enthusiasts alike. also, this name, we aim to convey our commitment to delivering not just great food but also a memorable and immersive dining experience. II. Company Logo The logo of CineGrill is a carefully crafted representation of the unique dining experience it offers. At first glance, you'll notice a playful and eye-catching image of a pig wearing 3D glasses. This cute design holds significant symbolism. The pig, an iconic image in the world of Korean barbecue, signifies the delicious food and top-notch service that CineGrill provides. Its donning of 3D glasses adds a creative twist, hinting at the fusion of two fantastic experiences under one roof. Unlimited Korean BBQ is at the core of CineGrill's offering, allowing customers to savor premium meats and side dishes. However, what makes this dining experience truly unique is the incorporation of in-house streaming services. The pig wearing 3D glasses cleverly indicates that while enjoying mouthwatering Korean BBQ, customers can also watch their favorite movies or series using different streaming platforms like Netflix, Viu, and Disney+. The choice of colors in the logo is also significant. Black, white, and red orange have been thoughtfully selected to complement and highlight each other. Black and white offer a classic and timeless touch, while the red orange adds vibrancy and energy. This color combination creates a balanced and visually appealing logo that stands out and is easily recognizable. The text in the logo is designed to be highly visible and easy to understand, ensuring that people can quickly read and identify the CineGrill Samgyeopsal brand. This logo effectively encapsulates the essence of the restaurant's concept - a place where delectable Korean BBQ and streaming entertainment come together for an unforgettable dining experience. III. Location of the Enterprise The location of the business will be at 2nd Floor, D' Students Place Center, Vito Cruz, Taft Avenue, Manila. The researchers chose this location because of its proximity to the establishments like schools and workplaces, which indicates that there is a strong demand for this kind of business. In order to accommodate a great number of customers, the proponents will maximize the space of store location by having 9 rooms: 1 room good for 12 pax, 5 rooms good for 6 pax, and 3 rooms good for 2 pax. Also, it is a strategic location because it is accessible to individuals since the building is located near the roadside, which helps to reduce transportation costs of the consumers. Moreover, the transaction for delivery of the products for the business' goods would smooth because of its location. IV. Description of Business CineGrill, with its innovative Samgyeopsal dining and Streaming Services Fusion, capitalizes on the current surge in Samgyeopsal's popularity within the Philippines. CineGrill offers a distinct fusion of premium meat selections and an extensive movie library. Strategically responding to the evolving consumer preferences in Vito Cruz, Manila, CineGrill integrates streaming services into the dining experience, creating a unique and memorable fusion. By providing patrons with a diverse film library that complements their meal, the restaurant transforms an ordinary dinner into an immersive and captivating event, aligning perfectly with the increasing demand for experiential dining. The incorporation of streaming services into the dining experience not only enhances the profitability potential of the establishment but also enriches the overall customer experience. As customers enjoy their chosen movies, they are more likely to extend their stay, leading to increased sales of food and beverages and creating a stronger bond between the restaurant and its clientele. In essence, CineGrill represents a pioneering culinary evolution, recognizing the powerful synergy between food and entertainment and positioning itself at the forefront of this exciting trend in the restaurant industry. CineGrill is introducing a special birthday promotion. Birthday celebrants can enjoy a complimentary treat by bringing three paying adults and providing a valid ID to verify their special day. This promotion not only encourages birthday celebrations at CineGrill but also fosters word-of-mouth marketing, enriching customer experiences and cultivating lasting loyalty. CineGrill ensures customer convenience with the option to book appointments online or in person. Rooms come in various sizes for 2, 4-6, or 12 individuals, each with a 2-hour and 30-minute time limit, with extra charges for exceeding both time and leftover items. The menu and movie list are available for planning, and multiple payment options, including cash, e-money (Cash and Maya), credit cards, and bank transfers, are accepted. Monthly staff assessments, food quality, and movie selection evaluations help maintain high standards and customer satisfaction. Cinegrill will operate for 12 hours from 12 noon to 12 midnight. V. Long Run Objectives CineGrill is a Korean BBQ restaurant that offers in-house streaming services. Long-run objectives are crucial since it provides a strategic direction and a roadmap for achieving sustainability, growth, and competitive advantage for the company in the market. • Build a Strong Brand Identity - Building a strong brand identity is important for CineGrill because it helps distinguish the business from competitors, fosters customer loyalty, and creates a consistent and memorable experience, which are key factors in attracting and retaining customers in a competitive market. • Cultivate Partnerships with Local Korean Food Suppliers - Cultivating partnerships with local Korean food suppliers is one of the objectives of CineGrill to ensures a consistent and high-quality supply of ingredients, which is crucial for delivering an authentic and delicious Korean BBQ experience • Create a Unique and Inviting Ambiance - CineGrill aims to create a unique and inviting ambiance because it enhances customer satisfaction and differentiates the business in a competitive market, ultimately driving customer loyalty and success. • Expand Locally - CineGrill aims to expand locally specifically in Metro Manila to cater those customers who love Unlimited Korean BBQ with In-House Streaming Services. VI. Highlights of Major Assumption • The Customer's payment will be well compensated. • CineGrill's well-defined target market primarily encompasses students, with a focus on Millennials and Gen Z in the Vito Cruz, Malate area of Manila. The restaurant's strategic location near educational institutions, active social media engagement, and commitment to experiential dining position it to effectively cater to the evolving preferences and expectations of its desired audience, making CineGrill a promising venture in the dynamic culinary landscape of Manila. • The main goal of CineGrill is to provide a unique and captivating dining and streaming experience that caters to the preferences of millennials, Gen Z, students in the Vito Cruz, Malate area of Manila. • People enjoy eating while watching because it enhances their dining experience, and CineGrill leverages this by seamlessly integrating dining and streaming to provide a captivating, all-in-one entertainment and samgyeopsal journey for its customers. • The customer demand for unique and well differentiated dining and streaming experience ensures the sustained success of CineGrill over the long term. VII. Summary of Findings • Based on the survey conducted to 382 respondents, the researchers found out that the majority of the respondents are female (59.9%) ages 18-25 years old (72.3%). Most of them have a household income of Php 63,701 - Php 109,200 (33.5% which determines that most of the respondents are middle class. • Regarding the respondent's dining frequency at Samyeopsal places, 39.8% ate twice a year, 28% ate quarterly, 28% ate annually, and 4.2% dined monthly. • 136 respondents (35.6%) watch movies and series for 5-7 hours for entertainment purposes • Majority of the respondents (83.2%) are willing to spend at least Php 500 to 600 pesos when eating samgyeopsal and (42.4%) said that they are willing to pay at least PhP 500 to PhP 600 for samgyeopsal with in-house streaming service. • Most of the respondents are very likely to visit a restaurant that combines Korean BBQ and in-house moves (63.9%). • The majority of the respondents 67.3% prioritize quality food, followed by 20.2% who prefer ambiance, 7.1% who emphasize customer service, and 5.5% who look for cleanliness. • The majority of respondents (78.5%) are attracted to the unique dining experience that CineGrill will offer. • Out of 382 respondents, 96.9% are willing to purchase CineGrill's dining experience with entertainment services, while only 3.1% answered no. • The study reveals that customers are very likely to be satisfied with the Quality of Food (resulting mean 3.75). The Customer Service of the business affects the respondents since they are very likely to be satisfied if their concerns and orders are being addressed by the employees (resulting mean 3.78). Ambience likely affects customers when eating in an establishment (resulting mean 2.99). The Cleanliness of the area likely affects the customer in dining (3.12).