_____________________________________________________________________
BUKCET KA-SEA
A Feasibility Study
Christian Jade T. Perales
Shandey E. Mecaros
Jesra Mae E.. Lumales
Danica Jean C. Paller
Prenchie M. Dumon
Jana Jean S. Gumapac
Submitted in fulfillment of the requirements for Inquiry, Investigation, and Immersion
Ozamiz City National High School
Senior High School
City of Ozamiz
A.Y. 2022-2023
_____________________________________________________________________
_____________________________________________________________________
Chapter I
Introduction
Since ancient times, seafood has played a central role in the Philippine cuisine
and culture, firmly ingrained in the customs and culinary practices of its numerous
regional cultures. Filipino love seafood, and it is frequently served during festive events,
family gatherings, and regular meals in both coastal and interior districts. In Filipino
culinary, sea foods are main sources of nutrition.
The number of seafood restaurants present in Ozamiz City is only few. Although
other restaurants offer seafood dishes, only a handful of restaurants offer a unique
variety of seafood dishes. The study aims to determine if a brand-new seafood
restaurant is feasible in the city of Ozamiz.
Seafood is expected to become increasingly important in future food systems
and healthy diets. This transition will require the seafood sector to adapt business
practices to respond to environmental and social challenges while increasing resilience
(Fletcher, et al. 2021).
The seafood boil restaurant industry has witnessed remarkable growth in recent
years, reflecting the increasing demand of up to 300 percent (Google trends, 2021) for
immersive dining experiences and the growing popularity of seafood as a choice of
cuisine. People from Philippines are growing curious about the dining experience of
seafood boils.
The proprietors seek to study the market of Ozamiz city if there is a demand for
seafood boils. By determining the different factors, the proprietors can have a concrete
plan before establishing the business.
_____________________________________________________________________
CHAPPTER II
Market Study
A. Product Description
Bucket seafood has different types of sea foods that are delectable, high-quality,
and reasonably priced. It has crab, scallops, shrimp, oysters, lobster, etc. It provides an
ideal package of nutrients and health benefits as a source of high-quality protein,
vitamins, minerals, and essential amino acids. Serve as fresh boiled, and the luxuriously
deep flavor and smooth texture of our delicious cajun-style blend of spices, tossed with
one of our signature seasonings and served in a bag to preserve the flavor, are the secrets
to pure and delicious seafood.
More than full filling the cravings of seafood enthusiasts, sea foods also provide
a huge part in our lifestyle. Omega-3s, iron, B and D vitamins, and protein are just a
few of the essential components found in seafood that are necessary for health and
wellness at any age.
The opening of seafood restaurants could be the answer, or at the very least an
alleviation to Ozamiz's shortage of seafood eateries. Unlike the seafood served at other
restaurants, the seafood provided at Bucket Ka-Sea will be served in a bucket.
B. Demand
C. Supply
D. Demand and Supply Analysis
E. Price Study
The major goal of every business venture is to please its customers;
consequently, affordable pricing will be vital. The price of the product would be
determined by the cost of the ingredients used and the costs associated with the
manufacture of the seafood bucket. The researchers’ survey questionnaire was used to
determine the price of the seafood bucket. Each seafood bucket costs between 500 and
1000 pesos, as the majority of respondents are ready to pay this much for a seafood
bucket. Other products such as condiments and drinks will be sold separately with a
price range of; ₱20-₱150 for drinks, and ₱30-₱100 for condiments. Based on the survey,
the range of prices for the product will be affordable enough for the general public.This
is based on the study findings, but it will be adjusted based on the country’s economic
growth, the price of the minor and main ingredients in the seafood bucket,transportation
cost, and other factors that will impact the product’s pricing. Any change in the price
of the seafood bucket will be considered as a factor in determining the consumers’
ability to acquire the product.
F. Factors Affecting the Market
The elements that can potentially interfere with and/or impair the operations at
Prima Aqua Refilling Station are of minimal concern. The following factors are
separated into those that can have an impact on a firm prior to and after it starts
operating.
Here are the factors to consider prior to business operations:
1. Financial Resources

Crustacean types of sea foods are pricey in the market and the supply
is limited. Before starting a firm, adequate financial resources must
be taken into account to support maintenance as the business grows.
2. Location

The location of Bucket ka-sea must be well thought of. To establish
an edge among other competitors, It must be accessible to the target
market.
3. Price

First impressions are crucial in the business set up. Setting a price
that is appropriate for the target market and competitive with the
rival enterprises will be crucial in developing Bucket Ka-Sea's
reputation in the marketplace.
G. Marketing strategies
The target market of Bucket ka-sea will play a crucial part in the marketing
aspect of the business. The opinions seafood enthusiasts and seafood lovers will help
in establishing the business's reputation. The promotion of the business will be easier
since the building will be located near a famous destination here in Ozamiz City which
is the Prospera Park. Once satisfied with the location of the business, customers can
spread the word to other consumers. The marketing strategy primarily takes advantage
of its unique products to connect to potential customers.
H. SWOT Analysis
Strength
Location: The business is located near a famous destination here in Ozamiz City
and this will be advantageous to the business.
Service Quality: the quality of service will play a big role in alluring more
customers. Good quality service means a good quality experience for the customers.
Weaknesses
Market opinion: Since the enterprise is new to the market, customers might not
welcome the business kindly.
Opportunities
Uniqueness: no other businesses like Bucket ka-sea is present in Ozamiz City.
There are a few numbers of seafood restaurants but their foods and services are different
from Bucket ka-sea because the business mainly cooks crustacean types of seafoods.
Threats
Uncertainty of supplies: supplies of crustacean seafoods is greatly dependent on
the available supply in the market.
Allergies: Due to the high number of people allergic to seafoods, expected
custom might be few
_____________________________________________________________________
CHAPTER II
Technical Study
A. Application Process
In opening the enterprise Bucket ka-sea, there are requirements in registering
the business to make it officially legal and functional. These must be complied before
the business operation starts.The following are the requirements for sole proprietors:
1. Certificate of Registration of Business Name- this can be obtained from the
Department of Trade and Industry (DTI).
2. Mayor’s Business Permit- After getting the Certificate of Registration from
DTI, the application of the business permit will be done in local municipal office. Some
requisites needed to be complied before getting the permit are the following:
3. BIR Form 0605- after filing the papers, the document must be paid. Once
done, the receipts are then printed in the printing press.
B) Service Line/Product/s Offered
The business will fall under the "food and drink" category, which is under the
hospitality industry, which is also within the broader service industry. Bucket Ka-Sea
will offer sea foods such as crabs, lobster, shrimps, oysters, clams, etc. For these are the
main components of a seafood boil. The business will offer sea foods that is cooked by
boiling with spices and corn.
The food is cooked until the meat inside them are tender and juicy. Boiling is a
healthy way of cooking food. For people with illnesses like diarrhea, infection, and
fever, boiled food is a fantastic option. By supplying water and vital nutrients, they aid
in the treatment of infection.For people with illnesses like diarrhea, infection, and fever,
boiled food is a fantastic option. By supplying water and vital nutrients, they aid in the
treatment of infection (Dawson, 2021).Protein, which is essential for developing and
sustaining muscle, is abundant in crab. Omega-3 fatty acids, vitamin B12, and selenium
are all abundant in crab. These nutrients are essential for enhancing overall health and
preventing a number of chronic diseases (WebMD Editorial Contributors,, 2023).
C) Production Process
Production
1. Preparation of the boil seasoning
In a bowl, combine:
⅓ cups smoked paprika
¾ cups old bay seasoning
3 tablespoons ground cayenne
2 tablespoons mustard powder
3½ tablespoons salt
2 tablespoons sugar
3 tablespoons ground black pepper
1 tablespoons coriander seeds
2. Preparation of the Cajun Butter
In a pan, melt 1 pound of unsalted butter then put;
12 cloves of minced garlic
1 tablespoon smoked paprika.
3 tablespoons of boils seasoning
Stir until combined.
3) Boiling
Fill ¾ of a large pot with water then bring it to a boil. When it boils, put;
2 diced onions
2 garlic heads
1 tablespoons handashi
Boil seasoning
Hot sauce (optional)
Seafood of choice
Boil them for 12 minutes then add in 12 pieces of corns sliced in half
then let it sit for 3 minutes.
4. Preparation for Serving
Strain the food and put it Into a plastic bag. Add in the Cajun butter and 2
cups of the broth. Shake the ingredients until the Cajun butter is evenly
spread.
5. Serving
Place the food from the plastic in a metal bucket. The customers can have
the option to dump the bucket of sea foods into their table, or just take from
the bucket one by one.
D. Project Location
Bucket Ka-Sea will be located at Barangay Aguada, Ozamiz City. Specifically,
behind the PLDT main office, near the Ozamiz City Hall.
The location was chosen primarily because of its strategic economic advantage.
Since the enterprise will be built beside a national highway, travelers and tourists can
easily identify the establishment. This location is also accessible to the public since this
location is at the heart of the city.
E. Building and Facilities
Bucket a-Sea will have lot area of 2,000 square meters. 1,024 square feet of this
lot will be utilized for parking space since the standard are for one slot of parking space
is 8x16 feet and the establishment will have 8 parking slots. The building itself will
have a total area of 500 meters square.
Inside the building, 1/5 of the building will be utilized for the kitchen and
utilities. The counter area will divide the dining area and kitchen area. A hand washing
station will be placed in between the bathrooms for men and women.
A separate room for management will be built connected to the kitchen area.
This room will be used as the office for the manager. This space will also store important
documents of the business and as well as a telephone to pick up calls from external
parties.
F. Utilities
The utilities under the Bucket Ka-Sea will be the electricity bill, telephone bill,
and LPG gas. The LPG will be the primary utility of the business since it involves a lot
of cooking. In instances when LPG gas is unavailable, electric stoves will serve as back
up. A power generator will also be purchased incases of power outage.
The telephone will be a crucial asset to the business since it helps management
connect to external parties like suppliers and investors. The official telephone number
of the business will be posted to the official social media pages and posters.
H. Production Schedule
Since the target market of the business is the general public, it will be open
from 9 am up to 8 pm. The business will operate even in holidays except for Christmas
and new year.
I. Production Cost
Table3.1: Monthly Cost of production
Ingredients
Quantity
Unit Cost per Kilo
Total
Smoked Paprika
5 kg
455
2275
Old Bay Seasoning
5 kg
270
1350
Ground Cayenne
3 kg
440
1320
Salt
10 kg
50
500
Mustard Powder
5 kg
260
1300
Sugar
5 kg
100
500
Ground Black Pepper
10 kg
125
1250
Coriander Seeds
8 kg
640
5120
Handashi
6 kg
500
3000
Unsalted Butter
30 kg
180
5400
Garlic
20 kg
260
5200
Onions
20 kg
720
14400
Corn
20 kg
60
1200
Shrimp
50 kg
600
30000
Crab
50 kg
840
42000
Scallop
50 kg
213
10650
Oyster
50 kg
160
8000
Total cost
Table 3.2: Utilities
Utility
Duration
Cost
Electricity
1 month
9,000
133465
Water
1 month
2,500
LPG gas
1 month
3,500
Telephone
1 month
1,500
Total 16500
Table 3.3: Equipment
Equipment
Quantity
Price per unit
Total cost
Stove burner
5
1,300
6,500
Metal pots
7
150
1,050
Freezer
2
6,000
12,000
Fridge
1
9,000
9,000
Kitchen Utensils
50
60
3,000
Total
31,550
_____________________________________________________________________
CHAPTER IV
Financial Study
A. Assumptions
1. The business operation will start on January, 2024 and will use the calendar year.
2. Each partner will contribute a total of P400,000 that will make the total capitalization
of P 3,600,000 .
3. The business will allow each partner to withdraw cash up to P100,000 every year.
4. The business will build its own building that costs around 3,000,000.
5. office supplies will increase by 1% annually
6. Fixed Assets are depreciated using straight line method with a scrap value of
10% based on cost and have a useful life of 10 years.
7. Sales will increase by 10% annually
8. advertising expense will decrease by 40% after the first year of operations.
9. permits and licenses will increase by 2% annually
10. Overhead shall consists of the following accounts: Light and water estimated to be
P50,000 per month and to increase by 10% every year. Telephone and internet amounts
to P2,000 per month and assumed to increase by 5% every year. Repairs and
maintenance is assumed to be 2% of the fixed asset cost for the first 3 years and, 5%
for the next 3 years.
11. Employees will have a starting salary of 350.
12. An increase of 5% per year in the salaries and wages of all employees.
13. The business will have 15 employees in the first year of operation.
14. 40% of the net income will be the retained earnings for the year and 60% is
distributed as dividends among the partners.
15. Production cost will increase by 5% annually
B. Projected Cost
ITEMS
AMOUNT
Ingredients
133,465
Utilities Expense
16,500
Equipment
31,550
Advertising Expense
12,500
Permits and Licenses
3,200
Miscellaneous Expense
10,00
Repairs and Maintenance
7,000
Salaries Expense
1,080,000
SSS Contributions
2,700
C. The Schedules
Schedule 1: Sales
(Assumptions: No. of buckets sold/day increases by 10% annually)
2024
2025
2026
No. of buckets sold
33
36
40
No. of days/year
365
365
365
Average price
1,000
1,000
1,000
SALES
12,045,000
13,140,000
14,600,000
Schedule 2: Production Cost
(Assumption: Production cost will increase by 5% annually)
Ingredients
2024
2025
2026
27300
28665
30098.25
Old Bay Seasoning
16200
17010
17860.5
Ground Cayenne
15840
16632
17463.6
Salt
6000
6300
6615
Mustard Powder
15600
16380
17199
Sugar
6000
6300
6615
Ground Black Pepper
15000
15750
16537.5
Coriander Seeds
61440
64512
67737.6
Handashi
36000
37800
39690
Unsalted Butter
64800
68040
71442
Garlic
62400
65520
68796
Onions
172800
181440
190512
Smoked Paprika
Corn
14400
15120
15876
Shrimp
360000
378000
396900
Crab
504000
529200
555660
Scallop
127800
134190
140899.5
Oyster
96000
100800
105840
1601580
1681659
1765742
TOTAL
Schedule 3: Office Supplies Expense
(Assumption: Office supplies increase by 1% annually)
ITEMS
QTY
COST
2024
2025
2026
Bondpaper
2
205
410
414.1
418.241
Ballpen
30
8
240
242.4
244.824
Logbook
1
69
69
69.69
70.3869
Stapler
1
50
50
50.5
51.005
859
867.59
876.2659
TOTAL
Schedule 4: Permits and Licenses
(Assumption: increase by 2% annually)
2024
2025
2026
500
510
520.2
2000
2040
2080.8
500
510
520.2
300
306
312.12
3300
3366
3433.32
DTI
Mayors permit
BIR
Sanitary Permit
TOTAL
Schedule 5: Utilities Expense
(Assumption: increase by 2% annually)
AMT
2024
2025
2026
MONTHLY
Electricity
9,000
108,000
110,160
112,363.2
Water
2,500
30,000
30,600
31,212
LPG Gas
3,500
42,000
42,840
43,696.8
Telephone
1,500
18,000
18,360
18,727.2
TOTAL
16,500
198,000
201,960
205,999.2
Schedule 6: Equipment
(Assumption: equipments are depreciated using straight line method with a scrap
value of 10% based on cost and have a useful life of 10 years)
QTY
COST
2024
2025
2026
5
1,300
6,500
5915
5382.65
955.5
869.505
10920
9937.2
8190
7452.9
2730
2484.3
9100
8281
3640
3,280
27300
24,600
20,000
18200
16,400
31,550
28,711
26,127
Stove
Burner
Metal Pots
7
150
1,050
Freezer
2
6,000
12,000
Fridge
1
9,000
9,000
50
60
3,000
Chairs
40
250
10,000
Tables
10
400
4,000
2
15,000
30,000
1
20,000
Kitchen
utensils
Air
Condition
Generator
TOTAL
Schedule 7: Repairs and Maintenance
(Assumption: increase by 2% annually)
2024
2025
2026
7,000
7140
7,282.8
7,000
7140
7,282.8
2024
2025
2026
SSS Contribution
2,700
2,754
2.809.08
TOTAL
2,700
2,754
2.809.08
Repairs and
Maintenance
TOTAL
Schedule 8: SSS Contribution
(Assumption: increase by 2% annually)
Schedule 9: Salaries Expense
(Assumption: Salaries increase by 5% annually)
2024
2025
2026
Salaries Expense
1,620,000
1,701,000
1,786,000
TOTAL
1,620,000
1,701,000
1,786,000
Schedule 10: Advertising Expense
(Assumption: advertising expense will decrease by 40% after the first year of
operations.)
2024
2025
2026
Advertising
12,500
6,250
6,250
TOTAL
12,500
6,250
6,250
2024
2025
2026
Misc. Exp
10,000
10,500
11,025
TOTAL
10,000
10,500
11,025
Schedule 11: Miscellaneous Expense
(Assumption: Increase by 5% annually)
D. Sources of Financing
Capital
Amount
Owner’s Capital
3,600,00
Total capital
3,600,000
E. Preparation of Financial Statements
Bucket Ka-Sea
Income Statement
For the Year Ended
Schedule
Sales
1
Less: COGS
2
Gross Profit
2024
2025
12,045,000 13,140,000
1601580
1681659
10,443,420 11,458,341
2026
14,600,000
1765742
12,834,258
Less: Operating expense
Supplies
3
859
867.59
876.2659
Permits and Licenses
4
3300
3366
3433.32
Utilities expense
5
198,000
201,960
205,999.20
Depreciation
6
2,839
2,839
2,839
Repairs and
Maintenance
7
7,000
7140
7,282.80
SSS Contribution
8
2,700
2,754
2.809.08
Salaries Expense
9
1,701,000
1,786,000
Advertising Expense
10
1,620,000
12,500
6,250
6,250
Miscellaneous Expense
11
10,000
10,500
11,025
8,586,222
9,521,664
12,618,293.5341
Net Income
_____________________________________________________________________
CHAPTER V
Socio-Economic Study
A. Business Purpose
According to Hosomi, et. al (2012), In recent years, in developed countries and
around the world, lifestyle-related diseases have become a serious problem. Numerous
epidemiological studies and clinical trials have demonstrated that diet is one of the
major factors that influence susceptibility to lifestyle-related diseases, especially the
middle-senile state. Studies examining dietary habits have revealed the health benefits
of seafood consumption.
Functional elements found in seafood are absent in species from the land. These
components include n-3 polyunsaturated fatty acids, which help to prevent thrombotic
and arteriosclerotic illness. Examples of these fatty acids include eicosapentaenoic acid
and docosahexaenoic acid. Additionally, seafood is a great source of many nutrients,
including fiber, vitamins, minerals, and amino acids.
B. Business Contribution
Government
Bucket Seafood could potentially create jobs and generate tax revenue for local
and national governments. Additionally, if the company sources its seafood sustainably
and adheres to environmental regulations, it could contribute to the government's efforts
to protect marine ecosystems.
Economy
Bucket Seafood could provide consumers with a new source of high-quality
seafood, potentially boosting local economies and supporting small businesses. The
company could also contribute to the broader seafood industry, which is a significant
contributor to global trade and commerce.Additionally, the bucket seafood business can
create jobs and provide opportunities for career growth, which can have a positive
impact on the economy as a whole.
Consumers
Nowadays, here in Ozamiz, bucket seafood is not common since it is pricey and
also because customers want a new taste and want a bucket of seafood that can be
bought at an affordable price. The bucket seafood Can provide products and services
that meet the needs and wants of consumers, helping to improve their quality of life.
_____________________________________________________________________
CHAPTER VI
Organization and Management Study
A. Business Organization Type
Seafood Bucket takes the business organization type of sole proprietorship.It is
totally owned by Mr. Jade Perales, making him in direct charge of the business
operations. He has an unlimited responsibility of the business and is also the one
leading the development and implementation of the overall organization’s strategy.
Mr. Perales receives all the profits generated by the business. There is no legal
distinction between him, and the business and all the assets and liabilities of the
business are his.
B. Organizational Chart
Although the organization type of the business places all the responsibility on
the owner, employing workers will allow for a more efficient operation as they carry
out the responsibilities of their individual positions.
OWNER
Mr. Jade Perales
COOK
CASHIER
DISHWASHER
Employee
Employee
Employee
C. Job Description
C.1 Owner

responsible for the day-to-day operations of their business.

oversee for fixing prices and signing business deals

in charge for providing direction for the business

Responsible for providing direction for the business

Makes the decision for the business
C.2 Cook

Oversees the entire coking process
WAITER/WAIT
RESS
Employee

Check the quality and freshness of ingredients

Ensuring that the kitchen area, equipment, and utensils are cleaned.

Efficiently resolving problems with customers’ orders.

Maintaining the quality and standard of the food.
C.3 Cashier

Receives payment and handles money for the time-being

Accept cash and return the correct change.

Keeps all important records of the business

Provides pricing information to customers
C.4 Waiter

Greet customers and hand out menus.

Prepare the bill for tables when requested.

Promptly attends to customers in a friendly and professional manner

Ensures that customers order is properly taken and delivered

Ensures that un-occupied tables are always set and ready for customers
C.5 Dishwasher

Ensuring the availability of clean dishes by washing dishes, pots, pans, and
flatware, and resetting dining areas.

Cleaning machines and appliances used in the kitchen.

Sweeping and mopping floors.

Reporting kitchen accidents or violations of food safety codes and procedures.
D. Job Qualifications
Seafood Bucket Restaurant also ought to provide job and work experience to
individuals who were not able to pursue college or finish their studies. This intention is
effective alongside the qualifications of the applicants to be hired
D.1 Cook

Senior High school diploma, or TESDA certificate or GED.

Sound knowledge of cooking methods and techniques.

Proven experience working as a Cook.

The ability to follow recipes.

The ability to work in a team.

20-35 years old
D.2 Cashier

Senior High school diploma or equivalent qualification.

Excellent communication and interpersonal skills.

Good mathematical skills.

18-35 years old
D.3 Waiter

Senior High school diploma

Endurance to walk and stand for long hours.

Ability to remain calm and professional with difficult customers.

Excellent interpersonal skills.

Coordination to carry plates or trays without dropping anything.

18-35 years old
D.4 Dishwasher

High school diploma

Minimal work experience.

Willingness to comply with all food safety procedures.

Ability to understand and follow directions

18-35 years old
E. Salary
Employees will be paid P365.00 per day, in accordance with the city's minimum
wage. Their pay will be increased by 2% every year. The company will vigorously
enforce the 'No Work, No Pay' policy.
Table 6.1: Employees’ Salary
Employees
Daily Wage
Monthly Salary
Annual Salary
Cashier
P 365.00
P8,030.00
P96,360.00
P 365.00
P8,030.00
P96,360.00
P8,030.00
P96,360.00
COOK
WAITER/WAITRESS
P 365.00
DISHWASHER
P 365.00
TOTAL
1,460
P8,030.00
32,120
P96,360.00
38,5440
F. Hiring and Recruitment
Bucket ka Sea will follow the standard recruiting and recruitment procedure,
taking into account all applicants' credentials.
The following procedures will be implemented:
1. Publicize the recruiting news through ads along with the promotion of the
business.
2. Accept application forms and other essential credentials.
3. Verify, evaluate, and choose qualified candidates.
4. Applicants that are chosen will be interviewed. This will be the final stage
of picking the most qualified candidates.
5. Hire
If a valid cause arises, the previously mentioned recruiting procedure is subject to
alterations and revisions. Additionally, the following staff will be hired:
A. 1 Cashier
B. 2 COOK
C. 1 DISHWASHER
D. 5 WAITER/WAITRESS
G. Project Schedule
The firm is expected to be operational six months following the start of the
Feasibility Study - construction of the facility is now complete.
Table 6.2: Project Schedule
1
Activity
Conduct of Feasibility
Study
Preparation of License
and Permit
Release of
Advertisement for
Business
Promotion/Hiring
Process
Operation and
Organization
Arrangement and
Preparation
Start of business
2
3
4
5
6
PEAR ASSESSMENT
CHRISTIAN JADE T. PERALES - 99/100 (Contributed to the majority of the paper)
SHANDEY E. MECAROS - 96/100 (Contributed to the completion of the paper)
JESRA MAE E. LUMALES - 96/100 (Contributed to the completion of the Paper
and also conducted the survey)
DANICA JEAN C. PALLER - 80/100 (Conducted the survey)
JANA JEAN S GUMAPAC - 96/100 (Contributed to the completion of the study and
also printed the hard copy)
PRENCHIE M. DUMON - 96/100 (Contributed to the completion of the study)
JORALYN JAPOS - Did not contribute to the completion of the study