A Feasibility Study: LAMI-AH SHAWARMA PDF

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MINDANAO STATE UNIVERSITY – ILIGAN INSTITUTE OF TECHNOLOGY COLLEGE OF BUSINESS ADMINISTRATION AND ACCOUNTANCY DEPARTMENT OF ACCOUNTANCY Andres Bonifacio Avenue, Brgy. Tibanga, Iligan City A Feasibility Study LAMI-AH SHAWARMA In Partial Fulfillment of the Requirements of the Course ACCTG 143 Manageme...

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MINDANAO STATE UNIVERSITY – ILIGAN INSTITUTE OF TECHNOLOGY COLLEGE OF BUSINESS ADMINISTRATION AND ACCOUNTANCY DEPARTMENT OF ACCOUNTANCY Andres Bonifacio Avenue, Brgy. Tibanga, Iligan City

A Feasibility Study LAMI-AH SHAWARMA

In Partial Fulfillment of the Requirements of the Course ACCTG 143 Management Accounting, Part II

Submitted to:

Prof. Marvin M. Bersabal, CPA ACCTG 143 Professor

Submitted by: Mohammad Shahinne B. Bangcola Roel Kent C. Visitacion Reneil L. Paelden Joshua Jan D. Jumawid

Bachelor of Science in Accountancy December 2019

Republic of the Philippines Mindanao State University - Iligan Institute of Technology Iligan City 9200 Tel. (063) 221 – 4050 to 55 fax no. (063) 3516173 http: //msuiit.edu.ph e-mail: [email protected] COLLEGE OF BUSINESS ADMINISTRATION AND ACCOUNTANCY Department of Accountancy ___________________________________________________________________________

APPROVALSHEET A feasibility study entitled ‘’LAMI-AH SHAWARMA’’ submitted by Joshua Jan D. Jumawid, Roel Kent C. Visitacion, Reneil L. Paelden, Mohammad Shahinne B. Bangcola in partial fulfillment of the requirements of the course ACCTG 143 Management Accounting, Part II and for the degree of Bachelor of Science in Accountancy (BSA), is hereby endorsed.

MARVIN M. BERSABAL, CPA ACCTG 143 Professor The feasibility study entitled ‘’LAMI-AH Shawarma’’is hereby accepted as a partial fulfilment of the requirements of the course ACCTG 143 Management Accounting, Part II and for the degree of Bachelor of Science Accountancy.

JESSA MAE S. BANSE, CPA

__________________________

Chairperson, Department of Accountancy

Date

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ACKNOWLEDGMENT The researchers would like to express gratitude and appreciation to the following persons who gave their full support for the realization of this project, Prof. Marvin M. Bersabal, CPA, the researchers’ instructor-adviser for his kind advice and contribution, The researchers’ beloved parents for their undying love, understanding, and financial and emotional support, The respondents, for their willingness to participate in answering the survey questionnaire, The researchers’ family and friends, for their motivation and encouragement to make this project possible, And above all, the Almighty God, the source of everything in this world, for all the blessings that He has showered upon the group, for giving the researchers’ the strength to pursue this project and for the guidance in facing the trials all throughout this journey.

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DEDICATION We dedicate this feasibility study To our Almighty father For without Him we are nothing And this work would have never existed. To our god, Allah As he willed it, as he guided us on our journey

Moreover, to our ever-loving, understanding Supportive parents;

Henry and Aurorita Jumawid Renato and Elvira Paelden Roel and Analyn Visitacion Abdul and Aleli Bangcola

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PROJECT SUMMARY This project is named “LAMI-AH SHAWARMA”, the researchers’ take on the famous Turkish shawarma, comes in either wrapped in pita bread or served with a rice bowl topped with a nutritious amount of vegetables. This was developed in response to the following purposes: 1.) To provide affordable and quality product; 2.) To provide highly nutritious product; 3.) To meet the demand of the consuming public. The project will be situated in Mindanao State University – Iligan Institute of Technology since it would be accessible to the target markets, the students of the University. It would add to the culture of food within IIT. The product gives a new thrill and excitement to everyone by enjoying the deliciousness it will give. The proposed project strives to achieve customer’s satisfaction by introducing a new source of delicious food which is not commonly available to the school. The availability and prices of supplies and wide acceptability of the project especially the conscious individual induce us to come up with this project. It appeals to wide range of age groups because of its unique feature and nutritional value. The capital required for this is Php 35, 000.00. Each partner must contribute Php 8, 750.00 for the starting capital. This will be owned by the Lami-ah partnership. The product is not only beneficial to the partners but to the government as well through its business tax contribution. This proposed project is feasible because the demand and the purchasing power of our target market is high.

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CONTENTS APPROVALSHEET .................................................................................................................................. i ACKNOWLEDGMENT .......................................................................................................................... ii DEDICATION ..........................................................................................................................................iii PROJECT SUMMARY............................................................................................................................iv CHAPTER 1 .............................................................................................................................................. 1 INTRODUCTION ................................................................................................................................ 1 BACKGROUND OF THE STUDY ..................................................................................................... 1 PROJECT DESCRIPTION ................................................................................................................. 2 JUSTIFICATION OF THE STUDY ................................................................................................... 2 CHAPTER 2 .............................................................................................................................................. 3 INTRODUCTION ................................................................................................................................ 3 PROJECT DESCRIPTION ................................................................................................................. 4 DEMAND ANALYSIS ......................................................................................................................... 4 SUPPLY ANALYSIS ............................................................................................................................ 7 DEMAND AND SUPPLY ANALYSIS................................................................................................ 8 FACTORS AFFECTING THE MARKET ....................................................................................... 21 MARKETING PROGRAM ............................................................................................................... 22 CHAPTER 3 ............................................................................................................................................ 24 INTRODUCTION .............................................................................................................................. 24 PRODUCT DESCRIPTION .............................................................................................................. 24 EQUIPMENT AND FACILITIES .................................................................................................... 24 BUSINESS SITE AND STALL LOCATION ................................................................................... 24 MARINATING EQUIPMENT: ......................................................................................................... 25 PRODUCTION EQUIPMENT:......................................................................................................... 25 RAW MATERIALS AND SUPPLIES .............................................................................................. 25 PRODUCTION PROCESS ................................................................................................................ 26 WASTE DISPOSAL ........................................................................................................................... 27 LABOR COST .................................................................................................................................... 27 LABOR REQUIREMENTS............................................................................................................... 27 CHAPTER 4 ............................................................................................................................................ 28 INTRODUCTION .............................................................................................................................. 28 v

FUTURE DEMAND AND SUPPLY ANALYSIS ............................................................................ 29 FINANCIAL STATEMENT ASSUMPTIONS ................................................................................. 29 RAW MATERIALS COMPUTATIONS .......................................................................................... 30 PRODUCT COST ALLOCATION ................................................................................................... 32 PROJECTIONS .................................................................................................................................. 33 NOTES................................................................................................................................................. 35 ANALYSIS OF FINANCIAL STATEMENTS................................................................................. 38 FINANCIAL ANALYSIS SIGNIFICANCE ..................................................................................... 40 CHAPTER 5 ............................................................................................................................................ 41 CHAPTER 6 ............................................................................................................................................ 43 INTRODUCTION .............................................................................................................................. 43 FORMS OF ORGANIZATION......................................................................................................... 43 POSITION AND JOB DESCRIPTION ............................................................................................ 44 PERSONNEL POLICIES .................................................................................................................. 44 ORGANIZATIONAL CHART.......................................................................................................... 45 CHAPTER 7 ............................................................................................................................................ 46 INTRODUCTION .............................................................................................................................. 46 MARKET STUDY .............................................................................................................................. 46 TECHNICAL STUDY ........................................................................................................................ 47 FINANCIAL STUDY ......................................................................................................................... 47 SOCIO-ECONOMIC STUDY ........................................................................................................... 48 ORGANIZATION AND MANAGEMENT ...................................................................................... 48 PROJECT EXECUTION SYSTEM .................................................................................................. 48 MONITORING AND EVALUATING .............................................................................................. 49 ADMINISTRATIVE SUPPORT PLAN............................................................................................ 49 APPENDICES ......................................................................................................................................... 50 PRODUCT .......................................................................................................................................... 51 CURRICULUM .................................................................................................................................. 52 VITAE ................................................................................................................................................. 52 OF STUDENTS ................................................................................................................................... 52 SURVEY FORM ................................................................................................................................. 60

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CHAPTER 1 THE PROJECT INTRODUCTION The Philippines has always been a melting pot of cultures. Centuries of comingling and openness have allowed for foreign practices to seep into the national culture. Food is not free from this, with foreign dishes from Chinese and Malay cuisine like lumpia and bagoong being a staple in the Filipino diet. A recent addition is the Turkish Shawarma,made from marinated meat that has been slow roasted on a vertical spit for many hours – the meat can be anything from lamb, beef or chicken to goat, turkey or a combination of any of these. Once cooked, the meat is carved off in thin, wide strips and stuffed inside a flatbread along with a variety of vegetables, such as lettuce, cucumber, tomatoes, onion, pickles and parsley.It was already famous in the Middle East and made internationally famous in the busy streets of Berlin. This was brought home to the Philippines in the 1980s by returning Overseas Filipino Workers from the Middle East and Germany. This has fueled the rise of homegrown Shawarma franchises, like Turks and Leylam bringing a Filipino touch and providing a range of choices to the Filipino consumer. Based on the survey, there is a desire from IIT students to enjoy this dish in both rice and wrap form. Therefore, the researchers plan to introduce Shawarma to the university market. The stall named “Lami-ah Shawarma” will bring to the students a delicious blend of beef or chicken coupled with a variety of veggies to fill their hungry stomachs and sizzle their taste buds.

BACKGROUND OF THE STUDY The Mindanao State University – Iligan Institute of Technology has always looked into improving the quality of life of the student body and the workforce. This has come in a variety of ways like improving campus infrastructure and rationalizing student policies. The school has also taken into account cultural and religious nuances of its constituents by ensuring Halal for Muslim students and allowing spiritual functions for different religious groups. Constituent welfare is also the driving force behind the expansion of stalls across campus, establishing stores all across the colleges and spread wide for greater access. This is the catalyst behind the proponents’ idea of introducing a fresh take to snacks and meals in MSU-IIT.

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“Lami-ah Shawarma”is a combination of the bisaya word “Lami-a”, indicating good taste and “Shawarma” the food style that drives value to our product. Its main ingredient can either be beef or chicken, garnished with a good amount of fresh vegetables such as tomato and cucumber. It can be eaten wrapped with a well heated pita or combined with rice as a typical meal. Both modes are designed to be on the go and easy to eat and enable the student to quench their hunger. The driving force behind this business idea is to provide a cheap and convenient food staple for student and teachers alike, one that can be consumed on the go as well as give a healthy source of protein. PROJECT DESCRIPTION The business is to be named “Lami-ah Shawarma”. It symbolizes our goal to give our customers a tasty shawarma dish to fulfil and satisfy their food needs. The business would operate as a partnership of 5 individuals with a total contributing capital of Php 35000. It will be placed in an area with constant expected foot traffic and easy enough to access for a vast majority of customers. JUSTIFICATION OF THE STUDY Lami-ah Shawarma is a fresh taste to the static food market of MSU-IIT. Designed to improve the options available for the student body in school that is equally tasty and healthy. Its main ingredients are all acceptable to the multitude of cultures that the school caters. All ingredients can also be scaled to ensure profitability and reduce costs. The model also accommodates stalls that fit into spaces provided by school in all possible locations across campus. It is also adaptable to constant innovation and change which may arise overtime. The researchers seek not only to create a business, but to introduce a product that is not only profitable but impacts the cultural psyche of the campus, creating new student traditions and improving the quality of life of students overall.

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CHAPTER 2 MARKET STUDY INTRODUCTION Shawarma is a recognized world-wide delicacy originating from the Middle East. Its unique serving allows for flexible catering towards one’s tastes. And combined with a modernized culture of provided options, we proposed this study as a unique food item named “Lami-ah Shawarma”. Marketing as a discipline involves all the actions a company undertakes to draw in customers and maintain relationships with them. At its most basic, marketing seeks to match a company's products and services to customers who want access to those products. The matching of product to customer ultimately ensures profitability.The marketing concept not only aims to match the company’s capabilities with the customers wants, but also exists to capture the latter’s expectation – that is, satisfaction. This matching process takes place in what is called the marketing environment. Businesses do not undertake marketing activities alone. As external factors may directly or indirectly affect the business itself. Such examples are threat from competitors, direct or indirect, and changes in political, economic, social and technological environment. All these factors have been considered as business tries to match its capabilities with the needs and wants of its target customers. The business site and location will be at the IDS Canteen. The project target market are the students of the MSU-IIT Campus, which includes those from the many colleges and the IDS students. We considered the prices of other establishments. Our business will be in a form of partnership whereby each of the 4 partners agreed to contribute five thousand pesos (P8,750.00) or with a total contributing capital of thirty thousand pesos (P35,000.00) to start the business. With the consideration of the trend in student population, researchers come into the assumption of projecting an increase in future demand for the next three years.

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PROJECT DESCRIPTION The business is named “Lami-ah Shawarma”, and its main product is shawarma. Lami is a bisayan word which means tasty, putting emphasis on the taste of our shawarma product. Shawarma is a dish in Middle Eastern cuisine consisting of meat cut into thin slices, stacked in a cone-like shape, and roasted on a slowly turning vertical rotisserie or spit. Originally made of lamb or mutton, today's shawarma may also be chicken, turkey, beef, or veal. Shawarma is an Arabic rendering of Turkish çevirme [tʃeviɾˈme] 'turning', referring to the turning rotisserie. Rotisserie,...