A. Background of the study
We chose scented candles as our business product because this kind of product is very appealing to the masses. Products and Services are very important because they provide satisfaction to every consumer. We were all thinking and suggest of almost the same products, and we thought that a lot of group already came up with those kind of product. And so we thought, why not try candle making and give our own twist to it. We already have had some experiences when it comes to making crafts like clay molding and designing wick an help us in making our product.
Our main objective in conduct the feasibility study is to know the strengths and weaknesses of our business, so that we will know whether it will prosper or not. And also we are conducting this study to know if people would buy our product.
The following are our objectives:
* To be able to satisfy our buyers
* To be able to create unique products
* To be able to provide quality products
* First we will establish our business inside our city where consumers go. * We will advertise our product in many ways, like using the internet, printing flyers ad others. * For the first month, we would produce limited stocks only. We will also try to hire few workers only. * If the business is successful for the first 4 months, we would try to ship and sell it to other places. We will also increase the number of employees. * After one year we will establish new branches for our business. Then we will also try to sell abroad. We will also try to supply to different establishments that would use our product.
We would conduct our survey through asking first our friends, relatives, etc. Then would try to go to the market and ask people on what they think about our product. We could also conduct surveys through the internet. D. Definition of Terms
Candle molder- container used to give the wax its shape
Wick-the middle part of the candle, the cord where the candle is being lit
Oil essence- gives the candle its’ scent
Gourmet- related to food. Our products usually have a food-like scent
II. MARKET STUDY
A. Market Environment
The target costumers of the company are other establishments and the general public. The product will be more affordable to the public because it is only made of recycled candle wax and the oils. The buying capacity of the target customers are within the minimum salary of middle-class people onwards. Our product is made of recycled candle wax. This makes it friendlier towards the environment for the production of the candle does not entail the use of harsh chemicals. Also, our product is scented with oils thus when it is lighted, it will emit a good aromatic smell. The oils of the candle smell of fruits and possibly, other foods in the future. One more perk of our business is that the candle can be customized. The company shall throw an opening party to introduce the product to establishments that cater to selling different products to consumers. Afterwards, advertisements will be seen on the newspaper about the product. Also, a door to door salesperson shall be employed to increase the number of people who knows about the product. The target area would be the whole Philippines. The company will start small but will open branches all over the Philippines. The first branch will be opened in the city of San Fernando. The branches will be opened not only in private properties but also in malls like SM and Robinsons. To reach the distributors, a truck shall deliver it from the factory. Then from the distributors shall the product reach the buyers. The product can also be delivered to a personal house if the costumer has ordered personalized candles for an occasion.
B. Supply and Demand Analysis
The main sources of supply to produce the scented recycled candle product are old wasted candles...