Business plan

strEAT Rice Toppings

Ocana, Janiza Regine

Goles, Jevie S.

Noor, Mahid M.

Carbajos, Clark Jake

Espanio, Ryzza Christine P.

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INTRODUCTION

People are busy in the hustle and bustle of our lives. Apparently, they all have to handle

busy schedules. They become so much busy in our work that we take eating for guaranteed. It

becomes our secondary importance while our work is the most. They do not know that eating is

as essential to our work. All work devoid of good eating will lead to bad outcomes. It affects your

proficiency and work’s accuracy.

Food business is a leading business that helps the economic growth of a country. There

are different types of food business may it be restaurant, pastry shop, food carts, food chains

and the most recent is the food truck. A food truck business is a great way to expand existing

restaurant sales or break into the food industry. It is a business in which you have lesser

competitors unlike the others. A truck that is improvised wherein all the foods that are available

to be sold are all intact and it can go to where the customers are. It has pretty low overhead,

compared to a restaurant, and requires far less staff. In this business, the proponents will not

have a monthly payment for the rent unlike having a stall inside the campus that even if there

will be no class, you must still pay. Also, it can lessen the crime of stealing since you have no

things left outside your premise. Food truck business is like a moving food chain.

The proponents call the business “strEAT Rice Toppings”; it aims to provide nutritional food for

everyone. On average, we eat 3-5 times a day including snacks in between meals – with almost

one third of food being eaten outside of the home. The trend of “eating on the go” is being

predicted to grow. “strEAT Rice Toppings” aims to cater people who find eating their less

priority. With the idea of ready meals, people will find it convenient and not time consuming. It is
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far from the same with other food stalls, you can have your meal in just a minute and you are

ready to go.

PROJECT SUMMARY

Name of the Project:

The business is named “strEAT Rice Toppings”. “strEAT” is a portmanteau, a made-up

word created from a combination of the words street and eat. The inventors agreed with this

name because they wanted to have a name that would remind customers fast, convenient and

accessible.

Location of the Project:

“strEAT Rice Toppings” is believed to be convenient at the street near St. Michael’s

College since it is accessible. It is spacious enough for the truck to stand by and can

accommodate enough customers as well. Proponents have analysed it as the perfect location

for the business since it is where many people pass by.

Form of Ownership
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“strEAT Rice Toppings” is a partnership type of business. Proponents believe two brains

are better than one. Chances of having more ideas and strategies will follow after. There will be

a wider pool of knowledge and skills.

Descriptive Definition of the Project

“strEAT Rice Toppings” is a small business that will situate near St. Michael’s College. It

is a food truck which offers complete meals that will range from 40 pesos to 60 pesos only.

These meals are promised to be nutritious and healthy for customers appreciating the healthy-

living.

Vision

“strEAT Rice Toppings” will provide a unique and distinctive service that will attract growing

repeat customer base and to help people save money, eat and live better. Thus, allowing

customers the ability to prepare a variety of meal quickly, away from home.

Mission

To consistently provide our customers the delicious and remarkable meal in the most efficient

time with impeccable service by demonstrating warmth, efficiency and integrity at work and to

operate at a profitable rate in fair price.

Goals
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 To become revenue and service-oriented business.

 To be known as the number one of food truck by the end of fifth year.

 To become the best provider of widest variety of foods offered.

 To be the most preferred food truck trademark in the country.

Objectives

 To provide the highest quality product with personal customer service.

 To provide a nutritious satisfying meal in a very affordable price.

 To provide quick and reliable service for customers.

 To meet the demand and expectations of customers in terms of service and production.

PRODUCT OR SERVICE

“strEAT Rice Toppings” is a food truck which sells meals in a box. It is a complete meal

that you can buy directly at the truck and carry the meal with you. The meal includes rice, main

dish, dessert and a drink.

The restaurant will be serving a complete meal that would cost from 40 pesos to 60

pesos. A 40-peso meal includes rice and a main dish alone, 50 pesos for meals with drinks but
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no dessert and a cost of 60 pesos for a complete meal including drinks and a side dish. Main

dishes will be in different choices each operating day such as poultry, meat, seafood and

vegetables dishes with side dish included. The choices for main dishes is settled in a way that

customers could choose of what they want for that day but repetition of dishes in a week will be

avoided. Dishes will be ensured that it will be one of your favourite. Desserts will be fresh fruits

depending on what you prefer. The same as for the drinks, there will also be choices such as

water, juice, or soda.

TECHNOLOGY

“strEAT Rice Toppings” is a type of food business in which it is moving. The store itself is

moving since it is with wheels; it is a truck. Inside the truck are the utensils and equipment use

for cooking the meals. The meal will be in the box in order for the customer to have an easy

buying. The box is recyclable because we aim to be an environmentally friendly store. The

customer can have a request for a delivery of its meal of free charge, as long as it will have a

notice a day before. The meal will be different everyday so that it will not be monotonous to

customers. There will be 3 choices of viands every day, as well as there will be a choices of

desserts.

As of now in Iligan City, there is only one moving store; the Mr. Beefy. The Mr. Beefy

offers only burgers, so it is totally different from “strEAT Rice Toppings”. It’s not that famous in

our city due to the location that it is a small city but it’s prospering. However, there are many

food carts in the city just like the food carts for tempura and tricycle store for juices. There’s a

big possibility that “strEAT Rice Toppings” will be a successful business since it will be the first

food truck in Iligan City that offers complete meal for the people.
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“strEAT Rice Toppings” will have a website in order for the customers to be updated for

the meal for the next day. It is also a way for us to know your reservations for the next day.

Also, the website will show the new meal that will be discovered.

INTENDED TARGET MARKET

Target marketing can be the key to a small business’s success. The business would not

be successful if it has no specific customers since every one of us knows that not all people will

buy the product. Having a target market can make a small business stronger and it can help the

business focus on its marketing activities.

The target market of strEAT Rice Toppings is that the truck will be near to an

establishment, specifically at SMC. The meals are available for all ages and it is health

conscious. It only offers viands that are healthy for the heart. The meals are affordable it costs

P60.00 only. It consists of rice, 1 viand, 1 dessert, and 1 beverage. It is more economical than

the food chains and canteens. There is no hassle anymore when you buy meals from strEAT

Rice Toppings since it is in the disposable paper bowl already and is located inside the campus.

COMPETITION

There are multiple businesses near SMC which offer the same kind of business like

strEAT Rice Toppings. These competitors somehow threaten the business since they have

been positioned over years and students are somehow already satisfied of what they offer.

From bakeshops to burger stalls and then carenderias to fast food, to satisfy the stomachs of

the market is the same as what the proponents is aiming for.

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Carenderias near the establishments are the foremost competitor of strEAT Rice

Toppings then next are fast food restaurants. Carenderias offer a wide variety of foods and are

afforded by students. Most students with allowances lower than 50 pesos would definitely go to

carenderia and have vegetable and rice. That would be enough for a one meal by then. Other

students who prefer air-conditioned area would go to places like fast foods. With the fast foods’

39ers or 49ers, cool and comfortable place plus delicious food and quick service, it is already

more than enough of what they are paying for. Customers would also take it as a safe place to

eat. These businesses target the same market with strEAT Rice Toppings, like students who

are readily and willing to purchase appetizing and sufficient foods.

A food truck like strEAT Rice Toppings has barriers to overcome such as customer’s

loyalty and advertising budget. It is easy to catch the attention of the market especially it is

something new to the usual. More likely, the trust and loyalty of the market is the leading

concern. Now that the market is used to be in the competitor’s side, there would be a long-

period adjustment for them to be able to absorb the capabilities of the business. Another barrier

on hand is the budget for advertising. strEAT Rice Toppings will be located inside the campus’s

premise but that does not mean there will be no more business advertising. It is intended for a

business to advertise their service as part of their marketing strategy for them to introduce their

unique offers and let the market be aware of what is going to happen. Thus, advertising budget

is needed.

The business has its unique features compared to other food businesses. Not like other

food stalls, strEAT Rice Toppings is just a few-minute drop by. There will be no long waiting of

when your food will be served to you. Add to that, proponents are promoting an eco-friendly

type of business. The meal box is recyclable and biodegradable. This way, the proponents

could help not only those starving busy people but conserving the environment as well.
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INDUSTRY

strEAT Rice Toppings falls under the food industry specifically a food truck which

prepares and serves food and drink to customers in return for money, paid before the meal.

Meals are generally take-out but can also be eaten on the premises or delivered.

Due to an apparent combination of economic and technological factors combined with

"street food" being "hip" or "chic" there has been a rise in food truck worldwide which now

reached Asia. In Asia, the cuisine offered by food truck requires simple skills and basic facilities.

They are plentiful, with large potential for income and often a very large sector for employment.

The appeal involved in sustaining a food truck lie not only in the low capital requirement, but

also in the flexibility of hours, with minimal constraints to locale.

With the change of society’s preferences due to the different influences such as

technology, people are already time conscious wherein every minute is important especially for

students and professionals, with this, meal on the go are now on trend for it caters the necessity

of the individuals to provide foods in an instant and can be brought anywhere at the same time

appeal to consumers in that they are often an inexpensive means of attaining quick meals.

BUSINESS MODEL

strEAT Rice Toppings is a food truck which means it is a truck which is transform and

customize to make it look like a food store. The truck has a dimension of 285" Length; 84”

Width; 118" Height with the following features pull up with open side where food can be served,

it has sinks, fryer, griddle, oven, top stove, exhaust hood, skylight roof vent with stainless steel

interior, cabinets, and shelving.

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Before starting and operating the business, it has papers to be process for legality. Since

this is a business, it must have a license and because it is earning it should be registered in the

Bureau of internal Revenue for the tax. Next, it must have a memorandum of agreement

between the Institute and business owner since the location is inside their campus. Then, a

permit from the Department of Health to ensure that it follows the food and safety standards.

Lastly, the owner must conduct training for the employees to guarantee the quality of work and

service they will surrender.

Operating hours of the food truck would be from Mondays to Fridays at 9 oçlock in the

morning up to 6:00 in the afternoon. The operation of the whole business is done inside the

truck since it has all the needed materials and facilities inside. To run the business, we need the

following personnel. First is Chef, to do all the cooking of the food from rice to main dishes.

Second, a cashier to take money matters and for accounting purposes. Next is a dishwasher, to

take the responsibility of washing tools used and cleaning the kitchen. Lastly, a service crew

who entertain the needs and orders of the consumers.

The business earns by selling complete meal for lunch and snacks in the afternoon. The

business is more on self-service type to reduce cost. The business would also like to practice

the 3R (reduce, recycle, reuse) to minimize waste and reduce cost.

MARKETING AND SALES STRATEGY

strEAT Rice Toppings is new and unique to the society which means it will easily

promote itself through the use of internet specifically social networks and through giving of

flyers. Since it is located in the heart of the campus it will be seen by all the students and can

attract lots of customers.

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Customers will receive freebies if they would be able to collect 10 boxes to the store.

This is one way of recycling processes. Since we cater more on students, the prices will be

lesser compared to those in fast foods. Every day, there will be different kinds of dishes which

are not that common in other cafeteria. Since our main objective here is to offer healthy foods,

the proponent makes sure that there will be vegetable or seafood every day to cater those

vegetarian or health conscious. Also, to give comfort for the teachers and staff the business

provides delivery wherein they must have a reservation in advance. For those students who

have lesser budget for a meal, the proponents offer different packages comes in different prices.

The products will be available on-site from Monday to Friday near SMC. The business is

in cash basis no credits are allowed. Customers are free to choose the dishes they want. For

the improvement of the business the proponents will put a suggestion box where customers can

put their comments about the service.

PRODUCTION/OPERATING REQUIREMENTS

The proponents have planned the production process for the store to operate. The raw

materials will be ordered from the supplier at the start of the week. Suppliers will then deliver the

raw materials with the exact number of purchases. Spoiled and damaged raw materials shall be

returned to the supplier and is subject for replacement.

Ingredients storage area will be at the truck since it has already built in equipment for

storage such as freezers and refrigerators. The truck has spaces provided for other materials

such as shelves and cabinets. Cleaning supplies and chemicals have a separate room as well.
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Raw materials are then available for cooking and serving. Foods will be placed in a dish

and displayed at the food counter where customers can freely see and choose. There will be a

service crew that will entertain each customer.

MANAGEMENT PERSONNEL

1.1 Owner

The owner entails acquiring financing or investing for the business. He should be a good

leader and can handle possible financial problems. He should have a background in any

business and in hiring and training employees.

1.2 Cashier Manager

Cashier managers have to keep track of how much money is in drawers at the beginning

and end of each workday. They monitor transactions, making sure everything adds up. They

handle duties such as customer complaints and supervise the staffs and the whole operation of

the business. They are also responsible in training new employees.

Qualification:

 College Level, 20-28 years old

 2 years experience in food business

 Polite and Understanding

 Great deal of integrity

 Good background in mathematics

 Detail oriented and responsible

 Good leadership qualities and trustworthiness

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 Computer Literate.

1.3 Bookkeeper

Bookkeeper is the person assigned to handle various aspects of business’ finances. He

is responsible for submitting financial statements of the business which includes income

statement, balance sheet, and cash flows. He is the point person when it comes to filling out tax

forms for the business. He must gather receipts and information about the company’s financial

activities. He is sometimes responsible for paying the employees at the business.

Qualification:

 Degree in business or accounting.

 Knowledgeable in computer accounting software.

 Well-developed communication skills.

 Discreet and trustworthy.

 Have at least two (2) years of experience in the field and pass an examination.

1.4 Chef

Chef administers and closely monitors the food being prepared. Apart from preparing the

food, they also take keen interest in preparing the menu; they also do the task of ordering the

supplies and maintaining a record of the production. The job also involves deciding the costs of

the various food items and beverages.

Qualification:

 Graduate in any food course- 2 years course

 Preferably male, with 2 years’ experience working as a cook, 22-35 years old
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 Creative

 Sensitive palate

 Hardworking, honest and trustworthy

 Physically Fit with no vices

1.5 Dishwasher

Dishwasher’s main responsibility is to provide a clean and organize kitchen area and

cooking equipment. Dishwashers are also required to take out the trash, sweep floor and mop.

They should make sure no food scraps are left on the cabinets, sinks, tables or dish-washing

equipment. All food areas should be wiped down and sanitized.

Qualification:

 Preferably male- 20-28 years old

 High school graduate with 2 years’ experience in food business

 Physically fit

 Hardworking and can handle pressure

1.6 Service crew

Responsible for providing courteous and efficient food and beverage services to the

customers

Qualification:

 High school graduate with 2 years’ experience in food business, 18-28 years old

 Good communication skills

 Pleasing personality
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 Hardworking and can handle pressure

INTELLECTUAL PROPERTY

Intellectual Property is important in business and it helps the entrepreneur to be secured

in his business. It is under the Article 27 of Human Rights Declaration, which provides for the

right to benefit from the protection of moral and material interests resulting from authorship of

scientific, literary or artistic productions. Chow Box on Wheels is under the Industrial Intellectual

Property, which is the Trademark.

Trademark is a distinctive sign that identifies certain goods or services produced or

provided by an individual or a company. The system helps consumers to identify and purchase

a product or service based on whether it’s specific characteristics and quality. It also hinders the

efforts of unfair competitors, such as counterfeiters, to use similar distinctive signs to market

inferior or different products or services. The trademark of strEAT Rice Toppings is a

combination of drawings and letters. The logo literally describes the project name. There is a

meal bowl at the center wherein it has wheels on to make it look like a truck. A spoon is also

placed at the bowl to represent the thought of a packed lunch. The words “strEAT”, “Rice” and

“Toppings” are on the upper and lower part, respectively.

1. Registering the business.

strEAT Rice Toppings will be located near SMC. For the city requirements, all

businesses must be registered to Bureau of Internal Revenue for the proponents’ proper

identification for tax purposes. Other documents that would be involved are the DTI Certificate

of Registration Business Name and Mayor’s Business Permit.

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2. Design and Layout

The business can be solely-owned. Proponents should consider the food premises

requirements to comply with the food safety standard. The design of food premise must be

efficient. Storage for dry-goods and food containers needed. Fruit and vegetables should be

refrigerated. Area for garbage, wastes, cleaning materials and chemicals are also required and

should be away from food area. For the equipments, sanitizing equipments must be present.

The minimum requirement is a single bowl sink. Machines used for sanitising could be used.

Food contact surfaces must be able to be easily cleaned and made of materials that will not

contaminate food.

3. Training

Everyone involved in food handling and preparation must be appropriately trained or

supervised. It is essential that new employees are given food hygiene training as they start

providing service. The owner must have undergone training as well before the employees.

An efficient and equitable intellectual property system can help all countries to realize

intellectual property’s potential as a catalyst for economic development and social and cultural

well-being.

ENVIRONMENTAL ISSUES

strEAT Rice Toppings would probably have many environmental issues. Issues could be

political and social. For political, the issue might be the question on its waste disposal. However,

the proprietor will have a permit from department of health in order to be free from this issue.
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The answer to the issue is that the food truck will have an own tank for the waste and a different

tank for safe water. The proprietor will also have garbage cans that separate the non-

biodegradable from biodegradable. Boxes are made of paper and are recycled by collecting it

from customers and are returned to the manufacturer to produce new boxes. Another issue

from political will be tax issues of the business. The business might have a big payment of tax

due to its type but if the proprietor will not register the business in Bureau of Internal Revenue it

will have lesser tax. Also, there might be an issue in the locale of the food truck inside the

campus. Their maybe people that might get embarrass since the food truck can occupy bigger

area than the ordinary car that will park.

For social issue it could be the culture. Since we have Muslim brothers and sisters, the

issue of not eating pork will affect the production of pork dishes. Also, people also have different

taste preference such as sweet, spicy and sour. Some consumers also patronize those

carenderias where they used to eat and put their loyalty to them. At the same time, some

students might think that the food is not that safe since the water in the truck is not flowing,

unlike in carenderias.

CRITICAL RISK FACTORS

SWOT ANALYSIS

STRENGTHS WEAKNESSES
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 The business is located in a place  No enough space to accommodate all

which is closer to the target market. costumers for dine-in service.

 Wide variety of choices of dishes not  No strong brand name.

like other food business.  Limited water and power supply.

 Easy and quick service.

 Service crew are highly trained.

 Appetite-satisfier in a very affordable

price.

OPPORTUNITIES THREATS

 The business is a food truck and can  Stalls, restaurants and carenderias are

be travelled to other market location. situated and have rendered service for

 It is the only food truck in the city. More years.

opportunities will follow after.  There is large number of competitors

 Patrons are expected to increase near the business.

because it is ensured safe because of  The nature of the business is easy to

its complete facilities. be copied. High competition is possible

afterwards.

Risk factors can be mitigated into one that can be acceptable and be dealt with. Developing an

effective strategy is one way to lessen these risk factors. It involves identifying the nature of

risks, assessing and evaluating the effectiveness of the solution which is then will be easy for

the team to conduct.

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START UP SCHEDULE

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16

Conducting Market Research

Conducting Industry Research

Writing Marketing Plan

Securing Funding

Creating Inventory List

Scouting Location

Getting Permits

Hire Employees

Placing Stocks

Every business must have a start up schedule in order for it to start. Start up plan or

schedule is a list of everything that must happen to get up the business. It also serves as a

blueprint for getting up the business and running. strEAT Rice Toppings must start with

conducting a market research in order to evaluate if the business must go or not. It will take 1

month for the proponents to conduct the research including the formulation of questions. It will

be followed by conducting the industry research. It includes measuring the business if it will

have many competitors with the same type of it and it will take 1 month in researching it. After
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the results of these 2 researches, writing the marketing plan will be followed. It will take 2

months in formulating the marketing plan since there are many aspects to be considered. You

will consider the market environment of your product or service, the operating requirements, the

marketing sales and strategy, the management and personnel requirement and the SWOT

analysis. After 2 months of making the marketing plan, it will be followed by from where and

whom you can secure the funding to run the business. It may be from a financial institution or

from investors. For securing the funding, it will take 2 months. It will take too long since there

are still many papers to process in order for it to be approved. After having the funding, creating

an inventory list will be the next. It includes on how much you will spend on the things that the

business will need. In the case of strEAT Rice Toppings, there are many things to be

considered, like the personalized truck, the kitchen and the equipments in the kitchen, utensils

to be used as well as the box that will be used. It may take 5 months on creating inventory list

since there will be a hard time looking if where the proponent can buy the truck and where they

can personalize it. As well as canvassing the desired equipments that will fit the truck. It will

then be followed by scouting and securing the location of the business. Since the Chow Box on

Wheels will be located at MSU-IIT, it might take 1 month to process the papers needed to be

approved. After 1 month, it will then be followed by getting permits for the requirement in the city

and country. This includes the requirement of tax from BIR, the licensing permit, DOH permits

and other permits. It will take 1 month to accomplish these permits. If the proponent can

accomplish these, he can now hire employees. In hiring employees, it will take 2 months since

the proponent will make an advertisement that they are in need of workers, and after making an

advertisement, there are still screening in order to see who fits the qualifications. Then, placing

the stocks in the shelves and placing orders with vendors is the next. It will take 1 month to

prepare all of these and it includes already training the employees. And after 16 months, the

strEAT Rice Toppings will have its grand opening.

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Managing these tasks to completion is the key to successful startup of the business.

FINANCIAL PROJECTION