Rgv's Camote Jam Delight 5m2s6a

RGV Company RGV’s Camote Jam Delight G North Avenue Tagbilaran City OWNERS: Abrau, Geny Lyn M. Ayeng, Vegalie G. Gesta, Maria Reina P. Raña, Rhina R. Santisas, Ginevie G.

Raw Materials & Finished Product

INTRODUCTORY PAGE RGV Company is a newly established partnership, located in G North Avenue Tagbilaran City. According to research food is the most feasible business venture, thus RGV Company aims to create an innovated food product with a capital contribution of ₱500.00 each. The product’s name will be called RGV’s Camote Delight.

RGV Company is equally owned and managed by these following partners: Geny Lyn M. Abrau Poblacion, San Miguel, Bohol Vegalie G. Ayeng Booy, Tagbilaran City, Bohol Maria Reina P. Gesta Buyog, Valencia, Bohol Rhina R. Raña Camambugan, Ubay, Bohol Ginevie G. Santisas Pangpang, Ubay, Bohol

EXECUTIVE SUMMARY RGV Company is a newly established partnership, located in G North Avenue Tagbilaran City. This partnership is equally owned and managed by five partners namely: Geny Lyn Abrau, Vegalie Ayeng, Maria Reina Gesta, Rhina Raña and Ginevie Santisas. The curiosity of the partners push them to indulge into a food manufacturing venture. The product’s name is RGV’s Camote Jam Delight, made from different varieties of sweet potato.

Sweet potato is known to be cheap but excellent source of carbohydrates, vitamin A, carotene, calcium, and phosphorus. It is also a fair source of thiamine and iron but poor source of riboflavin, niacin, and vitamin C. That is why it also promotes a product that is not only after taste but also of nutritive value. As s business, its goals are of quality, innovation and integrity. As a social relevance, it helps the community in a way that we can patronize locally produced “camote”.

The unit cost is ₱3.60, with the unit price of ₱5.50, which is a 52% mark-up based on cost. For the period of 2 months, the company estimates to realize a ₱2,188.80 gross profit. The return of investment is the capital contribution of the partners, which is ₱500 each a total of ₱2, 500, plus the net income, which is ₱2,188.80 , a total of ₱4,688.80 . Each partner has a return equal to ₱937.76.

The Objectives of RGV Company are the following: • To be able to enhance our skills as aspiring entrepreneurs. • To be able to sustain our business in a period of 2 months. • To be able to meet the needs of the community.

RGV Company Mission is as follows: • Quality: Our products have always been in the forefront of the health and nutrition wave. • Innovative: Innovative products, state of the art manufacturing, quality assurance and industry expertise are the bases for future successes. • Integrity: Our customers depend on the quality of our product. Our commitment to the highest standard is the foundation of our customer's trust in our Camote Jam Delight. Home-made Camote depends on extensive cooperation and mutual reliance between supplier and retailer. We stand behind our product, our service and our word.

INDUSTRY ANALYSIS A. Analysis of Competitors Most probably, we desire to sell our product as a dessert, in the restaurants near the vicinity of University of Bohol, based on that, our competitors will be the available dessert made by the owners of the restaurants, there might be pre-existing local food products, i.e. ube jam, squash jam, camote cue, etc.

B. Market Segmentation We aim that in our production, our product will be all sold out, we can do that by:

RGV Company

Fleet Mer Restaurant

Restaurant near UB

Restaurant near UB

Boarders

Students from UB, BISU, etc.

Students from UB, BISU, etc.

DESCRIPTION OF VENTURE A. Product RGV Company will offer a newly innovated product made from different varieties of sweet potato. RGV will produce a tasty, yummy and delectable camote jam that will satisfy its customers, perfectly made down to the smallest detail. Compare to others, RGV’s Camote Jam have various colors and toppings according to the variety of sweet potato we will be using.

Sweet potato locally known as “kamote or camote”, is a commonly planted in flat to slightly rolling open areas. The crop is also known to be cheap but excellent source of carbohydrates, vitamin A, carotene, calcium, and phosphorus. It is also a fair source of thiamine and iron but poor source of riboflavin, niacin, and vitamin C.

Raw Materials & Finished Product

B. Size of Business RGV Company is a micro business, since it’s total capital is only ₱2,500. Also, it has only five workers working in the production.

C. Background of Entrepreneurs RGV Company has come to existence through the utmost efforts of these young entrepreneurs: NAME

AGE

PERMANENT ADDRESS

Geny Lyn M. Abrau

18

Poblacion, San Miguel, Bohol

Vegalie G. Ayeng

19

Booy, Tagbilaran City, Bohol

Maria Reina P. Gesta

18

Buyog, Valencia, Bohol

Rhina R. Raña

18

Camambugan, Ubay, Bohol

Ginevie G. Santisas

19

Pangpang, Ubay, Bohol

They are all third year ancy students at the University of Bohol.

PRODUCTION PLAN A. Manufacturing Process This is how a Camote Jam Delight is made:  Ingredients: In order to produce a camote jam delight these basic ingredients are needed:  camote  condensed milk  margarine  butter  sugar

 Here are the procedures:  Boil the sweet potato until cooked.  Peel the skin then place on a separate bowl.  Mash the sweet potato.  Set the pan in low heat then melt the butter.  Add the mashed sweet potato, sugar and condensed milk. Mix well.  Spoon in paper cups and add toppings.  Chill for 30 minutes then serve.

B. Production Schedule Steps

Time

Boiling

1 hour

Peeling

15 minutes

Mashing

15 minutes

Mixing

30 minutes

Molding

30 minutes

Chilling

30 minutes

TOTAL

3 hours

C. Manpower Requirement Name of Partner Geny Lyn Abrau Vegalie Ayeng Ginevie Santisas Maria Reina Gesta Rhina Raña Geny Lyn Abrau Vegalie Ayeng Ginevie Santisas Maria Reina Gesta Rhina Raña

Duties

No. 3

2

Preparing & boiling the camote Peeling the camote Mashing and mixing

3

2

Molding

D. Place of Production RGV Company manufactures their product at Booy, Tagbilaran City, Bohol, the residence of one of the partners – Ms. Vegalie Ayeng. E. Names of Suppliers of Raw Materials  Plaza Marcela  Cogon Public Market

MARKETING PLAN A. Pricing The company's sales forecast is ₱3,168 in the first month and ₱3,168 in the second month with a total cost of goods sold of ₱2,073.60 every month. This results in a gross profit of ₱1,094.40 every month and a gross margin percentage of 52% every month.

NOTE 1: Raw Materials:  Camote (1 kilo) - ₱30.00  Condensed Milk (195g) 14.40  White Sugar (125 grams) 5.94  Butter ( 2 packs) 13.60  Margarine (50 g) 7.82  Paper molder 2.28  Cheese 5.00  Indirect materials 7.36 TOTAL COST ₱86.40 Number of Units Produced ÷ 24 UNIT COST ₱ 3.60 Mark Up 52% Unit price - ₱ 5.50

By week- 6kls TOTAL COST (per kilo) Number of kilos per week Total Cost per week

Number of Units (per kilo) Number of kilos per week Total Units produced

₱86.40 x 6 ₱518.40

x

24 6 144

By month- 24kls TOTAL COST (per kilo) ₱86.40 Number of kilos per month x 24 Total Cost per month ₱2,073.60 Number of Units (per kilo) 24 Number of kilos per month x 24 Total Units produced 576 Unit price ₱ 5.50 SALES ₱3,168

B. Distribution Target Market: Restaurants near the vicinity of University of Bohol FleetMer Boarding House Students and Teachers

C. Promotion Free tasting for the 1st week of operation Word-mouth advertising Social media, i.e. facebook

ORGANIZATIONAL PLAN A. Form of Ownership RGV Company is a partnership business composed of partners that are both capitalist and industrial. All partners have equal control and the decision of majority rules. They have unlimited liability. The profit or loss will be divided equally between the partners.

B.

Roles and Responsibilities of of the Organization The company is equally owned and managed by all the partners. They are expected to carry out certain roles, duties and responsibilities. These include the following:

• Loyalty and Good Faith Each partner must act in good faith toward the other partners and must not take any advantage over the other partners by misrepresentation or concealment.

• Obedience Partners must observe any limitations adopted by a majority of the partners with regard to the ordinary details of the partnership business. • Reasonable Care A partner must use reasonable care in transacting the partnership’s business and is liable for any loss resulting from a failure to act with reasonable care. • Information A partner has the duty to inform the partnership of all matters relevant to the partnership.

• Management Each partner has the right to take an equal part in transacting the business of the partnership. It is irrelevant that one partner contributed more than another financially or that one contributed only services when the partnership was formed. • Inspection of Books All partners are equally entitled to inspect the books of the partnership.

ASSESSMENT OF RISK A. Evaluate weakness of business Perishable Umay-Factor Competitors Pre-existing local food products, i.e. ube jam, squash jam, camote cue

B. Contingency Plan If raw materials, especially camote, won’t be available in the suppliers we mentioned, we will resort to buying the said material at other markets. In the production, we’re using stove in cooking our product, and if there will be instances that the stove will run out of gas/fuel, we will consider using firewood. Since we will deliver our product to certain restaurants, and if it’s close without our knowledge and/or they will refuse to buy, we will be selling it personally to individual customers.

FINANCIAL PLAN The partners of RGV Company will contribute ₱500 each, a sum ₱2,500, that will be the source for financing the business. Their will be no additional investment from the partners, nor borrowed funds from creditors.

Income Statement

Note : Assets All materials and equipment used in the production are borrowed and fully depreciated such as pan, ladle, stove, etc. All sales will be in Cash, thus there is no expected s Receivables. Inventory is zero, for we assume that all products will be sold. Liabilities The company will not incur any liability because the capital contributed is enough for the production.

NOTE 1: Raw Materials:  Camote (1 kilo) - ₱30.00  Condensed Milk (195g) 14.40  White Sugar (125 grams) 5.94  Butter ( 2 packs) 13.60  Margarine (50 g) 7.82  Paper molder 2.28  Cheese 5.00  Indirect materials 7.36 TOTAL COST ₱86.40 Number of Units Produced ÷ 24 UNIT COST ₱ 3.60 Mark Up 52% Unit price - ₱ 5.50

The Return of Investment is the capital contribution of the partners, which is ₱500 each a total of ₱2, 500, plus the net income, which is ₱2,188.80 , a total of ₱4,688.80 . Each partner has a return equal to ₱937.76.