PROJECT BACKGROUND AND HISTORY
The proponents thought of a coffee business since Filipinos are known to be coffee – lovers. To satisfy consumer cravings, they came up with other blends of coffee, these blends will surely fulfill the cravings of the buyers. 1.1 Project Proponents
The proponents are composed of three (3) students from the College of Business taking up Hotel and Restaurant Management. The proponents have undergone series of brainstorming in order to come up this kind of business.
Table 1: Proponents
NAME| ADDRESS| NATIONALITY| OWNERSHIP|
Paringit, Jerick U.| 78 Peras St. Bagong Barrio Caloocan City| Filipino| 33 1/3%| Lacabra, Elisha Grace V.| 43 Ero Bernardino Seminary St. Bagbag Novaliches| Filipino| 33 1/3%| Viloria, Vanessa DC.| 7 Pangako St. Bagong Barrio Caloocan City| Filipino| 33 /3%|
1.2 Proposed Name of the Project
The proponents named the business “Kofilicious” a combination of the words Coffee and delicious. It is a place where you can satisfy your coffee cravings at affordable prices. Kofilicious aims to serve blended coffees that are suited to the tastes of the customers.
1.3 Type of Business Organization
The proponents agreed to form a General Partnership with all three (3) partners. All of them will manage and participate in the business operation; each partner is subjected to contribute their share to come up with the required capital for the initial operation of the business.
All of the proponents would be general partners with 33 1/3% shares each in capital requirement. 1.4 Location of the business
The Kofilicious will be located at the Walter Mart, North EDSA at the ground floor area. It is close to the LRT station, in front of Jackman. 1.5 History of the business
Initially, the proponents would like to start a Pizza Shop, a Restaurant or a Bar. However there is a difficulty in finding demand and supply of the main product. As time goes, the proponents have noticed that Filipinos are coffee lovers. So proponents were inspired by the idea of having a coffee shop.
About the location, one of the proponent suggested to put up a business inside SM City San Lazaro at Felix Huertas St. Lacson Ave. Santa Cruz, Manila, but when they visited the said mall, the proponents found out that there are many direct and indirect competitors, so they searched for another location and found Walter Mart in North EDSA, Quezon City. It is a commercial place where it can achieve profitability through mall goers, students, employees.
The most crucial factors that influenced the proponents in choosing what type of business project to establish and manage are (1) the need to obtain the necessary capital needed in establishing the business, (2) the marketability of the chosen project to ensure profit, and (3) the percentage and time needed to have return of investment in order to maintain and sustain the business project.
Since the proponents are all students, capital is a limitation. The scale with which the business project will operate depends largely on the amount of money the proponents are able to commit to business.
Nowadays, marketability of the product depends on the demand for the product. The project proponents chose food as their product because the marketability of beverages never decreases. As long as people drink, beverages will always be a top commodity. A survey conducted by the proponents showed that coffee is one of the most in-demand beverages. A little twist and little experiment, and the team came up with Kofilicious, coffee blended with other ingredients topped with whipped cream and wafer or wafer stick.
MANAGEMENT AND PERSONNEL
The Kofilicous has a Stall Manager, Accountant, and two Store Personnel. Each personnel will work for eight hours a day, from Monday to Sunday. The term of payment will be given 15th and 30th of the month. The proponents...