SQUASH JAM A MUST TRY CLASSIC JAM A VEGGIE JAM FOR A HEALTHY BODY Squash Jam BUSINESS PLAN JAIRA HANNAH B. PALAWAN MAY S. BANGCOYO Leon Garcia Beach Agdao Davao City 09430100093/09485180626 JANUARY 2017 Executive Summary To be an entrepreneur, one must be independent-minded, cool in the face of turmoil and not afraid to take risks when one thinks what he is doing is right, logical, and beneficial, and has a great change to succeed. We like to build this business, not because we earn money but to give happiness to our customers when they taste our healthy jam. Our project required us to work on “Natural Products”. Amongst new products, we chose “Jams” which was conceived as a new brand to be launched in the Philippines market .Philippines food processing industry. The target segment that company will contemplate will be upper middle and elite class. Target areas will be affluent sections of Philippines and adjoining areas.. COMPANY DESCRIPTION Squash JAM is a small business, but dreams to be a big one. It started in 2016 with a two teenagers who tried to innovate a new food product that aim to promote the Filipino food delicacy within and across the world. Given the opportunity to make a fresh start the group began by making 1 kg squash in a tiny room equipped with a kerosene stone and a pot. Through perseverance and teamwork prompted the aspiring two teenagers to become the first ever vegetable jam brand in the country. All products are hygienically prepared as we believe that from hygiene comes purity and from purity come the taste. From there onwards, the journey has been focusing primarily on real ingredients fresh vegetables. Trust, natural goodness, health, versatile, and sweet taste were the core of all works. Squashy Squash Jam is more than a bottle of jam. It’s equivalent to kids loving what they eat and growing up happily. The Squashy JAM Company keep mothers and kids happy and smiling. Success, as they say is sweet. VISION : Our vision is to promote healthy eating to all ages without making food bonding boring ones. To raise the awareness of every consumers about the importance of squash to human health. To use different advertising approaches to appeal to the peculiar mind of the consumers. To increase distributor profitability and productivity by introducing the squash jam as a new and exciting business opportunity. Mission: Our mission is to spread a healthy eating habit to all ages. To also encourage people with diseases such as; diabetes to be wise specially from picking the rights sweets an desserts to eat and even jam or spreads for any food. OBJECTIVES: 1.To encourage all young and adult to buy the product that adverse good effect and their physical health. 2.To raise the awareness of every consumers about the importance of squash to human health. 3.To use different advertising approaches to appeal to the sub conscious mind of the consumers. 4.To increase distributor profitability and productivity by introducing the squash jam as a new and exciting business opportunity PURPOSE: To let the people know and try our product “Squash Jam” To encourage all young and adult that adverse good effect on their physical body (health). Most importantly we promote a healthy living by starting on food choices. VALUES:: Promote natural product Unique and organic product New taste (bago sa panlasa ng mga tao) Healthy/good to all ages Innovation CORE COMPETENCIES A unique ability that a company acquires from its founders or develops and that cannot be easily imitated. Core competencies are what give a company one or more competitive advantages, in creating and delivering value to its customers in its chosen field. Also called core capabilities or distinctive competencies. See also core rigidities. *Social Responsibilities *Innovation *Strategic Customer Targeting LONG TERM PLAN: To expand/extend our product to the market. To study a new strategy on how we can improve our product and on how we can make the longevity of the product last. To increase distributor profitability and productivity. And after a year we planned to introduce the product to the foreign market. PRODUCT/SERVICE A good, idea, method, information, object or service created as a result of a process and serves a need or satisfies a want. A commercial enterprise that provides work performed in an expert manner by an individual or team for the benefit of its customers. Squash Jam is a great innovation product that can be distributed within Philippines area or foreign countries. Our products comes from natural squash and organic coconut milk. Our product will be package into sterilized container. Even the labelling of the product includes information concerning content along with the freshness dated to ensure the safety of the buyer or costumer. People buy this products not only because of its affordability but also for the benefits that they could get it and to raise awareness of every costumers about the importance of squash jam to human healt. To encourage all young and adult that adverse good effect on their physical body. It is also a rich source of source of vitamins A, vitamin C, calcium, and iron that add an overall appeal to the costumer. Squash Jam PACKAGING: 1. Group Name: Squash Jam 2. Category: Food Product 3. Tagline/ Slogan: “A Veggie Jam… For a Healthy Body.” 4. Segment: People wanting to have a sweet and healthy breakfast. 5. Target people: Young and Old People 6. Target Place: Subdivision, School, Street, and Internet 7. Positioning: Makes Food Interesting 8. Logo: SQUASH JAM A MUST TRY CLASSIC JAM 9. Nutrition Facts NUTRITION FACTS Serving Size Amount Per Serving Calories Total Fat Cholesterol Sodium Potassium Total Carbohydrates Sugars Protein Vit. A 10 % Calcium 25 % 10.Expiration Date: 300 mL 7 20 0g 0 mg 4 mg 9 mg 5g 5g 0g Vit. C 1 % Iron 0% PRODUCT DESCRIPTION TO OFFER 1.Squash Jam Squash Jam is a semi-sweet concoction made of grind squash, sugar, coconut milk, evaporated milk, calamansi, cornstarch and water. This considered as a dessert in the Philippines. It is sealed in a sterilized container and close it tightly. This sweet delicacy is healthy and affordable. Cleary, a great distinction of the Squash Jam comes with a healthy value of squash to fulfil the needs of the costumer. This delicacy is not just for adults only but also for young children also. Squash jam, it is sensuous and silky. You will be tempted to slather this jam on a slice of fresh bread, better if a whole-wheat or brown bread. Though, you will be tempted to finish the jar with a spoon MARKET AND COMPETETION MAGKET SEGMENTATION A. Squash Jam Its objective is to design a marketing mix that precisely matches the expectations of customers in the targeted segment. Market segmentation is the partitioning of a market into small parts. By identifying different groups of people with fairly similar needs, a firm can try to satisfy customers better and more profitably when assembling a marketing mix to reach a particular market segment. This is a unique variation of Philippines squash jam. The distinctive smell, texture and taste of squash jam is significantly evident, wherein its individuality will make it stand out in the market potential. Thus the important will improve the market value of squash jam; maintain a good packaging and even the labelling of the product. The main change in beverage consumption for adult is important shows an evidence for the improvements in diet and healthy status. COMPETENCY ANALYSIS Unfortunately, many businesses are confused as to the steps that are needed when pursuing a new market or industry. Surprisingly, the steps aren’t that difficult. However, it does require both effort and time and the willingness to see your ideas to their successful conclusion. Below is the SWOT analysis of our squash jam product. Strong brand name Strength Healthy flavors Good product distribution and availability Weakness Food products have a limited shelf life Threats Health conscious people avoiding sweet. No Saturated Fat Good Points No Cholesterol Very Low in Sodium Bad Point Very High in Sugar CONCLUSION: We conducted a free taste sample to 14 HRS students and 5 teachers. Based from our conclusion: • 100 % of our respondents like the sweetness and taste of the squash jam. • 3 out 19 suggested to grind well the squash. • 2 out 19 advise to add some vanilla syrup to enhance the taste and smell of the product. • 95 % of our sample responded prefer the jam with bread. MARKET AND SELLING STRATEGY: As a young entrepreneurs, we organize an effective market strategies which is applicable for a small business to achieve the company’s goal in promoting the Filipino delicacy. Below shows the step-by-step procedures in order to meet our goal. Make a survey on where and how to distribute the product. Design attractive packaging, flyers, posters, and brochures. Ask family and friends to help market the business to begin forming relationship with potential customers. Set up a free blog or use the facebook to promote the product globally with written customer’s testimony. Offer free products such as free taste, discount, or gift item with the company logo to market the product. PRODUCT AND SERVICE Squash Jam is a Filipino homemade product that can be distribute in local and foreign countries. Also it provides the idea foundation for balance and valid diet. PRICE A value that will purchase a finite quantity, weight, or other measure of a good or service. As the consideration given in exchange for transfer of ownership, price forms the essential basis of commercial transactions. It may be fixed by a contract, left to be determined by an agreed upon formula at a future date, or discovered or negotiated during the course of dealings between the parties involved. The pricing scheme is based on standard industry practices. We have set our prices based on current market and they are all affordable that suites to needs of every young and adult customer. PROMOTION Our objectives of product promotion are to increase sales, attract customers, improve product recognition and enhance brand identity. Product promotion benefits businesses by generating consumer demand, and benefits consumers by providing needed information about product availability and uses. Because of intense competition, it is critical to plan an effective strategy before initiating a promotion campaign. As young entrepreneurship, we organized an effective market strategies which is applicable for a business to achieve the company’s goal promoting the Filipino delicacy. Below shows the step by step procedures in order to meet our goal. Ask family and friends to help market the business to begin forming relationship with potential customers. Design attractive packaging, flyers, posters, and brochures. Make a survey on where and how to distribute the product. Set up a free blog or use the facebook to promote the product globally with written customer’s testimony. PEOPLE As our target market for our product we segment it first in all ages but particularly on the adult that adverse good effect in their physical health. To satisfy our customer to make them feel like in heaven when they taste our awesome sweet squash jam. OPERATIONAL PLAN ; INGREDIENTS: 1 kilo Squash (peeled and seeded) 1 small Evaporated Milk ½ Brown Sugar 2 cups Coconut Milk ¼ tsp. Calamansi ¼ tsp. Cornstarch 300 Ml Water PROCEDURE: 1. Cut the squash into slices, peel and dice it. You will need 1 kilo of squash pulp. Put it in a pot and cook it over low heat with lemon juice and 300 mL of water for about 35 minutes, until it softens. Stir often to prevent it sticking on the bottom. Depending on the texture of the squash you might need more or less water, more or less cooking time. 2. If done, remove the water and start it pressing using a spoon in a container. 3. In a clean pan cook the coconut milk until it turn into a coconut oil. 4. Then add the brown sugar until it caramelize. 5. Place the cooked squash and mixed it. 6. Simmer the jam about 10 minutes to thicken it. 7. Spoon the jam into sterilized container and close them tightly. 8. Place in refrigerator to set. PREPARATION TIME COMPUTATION 1. Cost of Materials COOKING TIME TOTAL TIME QUANTITY INGREDIENTS PRICE 1 kilo Squash Php 35.00 1 small Evaporated Milk Php 15.00 ½ Brown Sugar Php 25.00 2 cups Coconut Milk Php 40.00 ¼ tsp. Calamansi Php 2.00 ¼ tsp. Cornstarch Php 3.00 TOTAL: Php 120.00 2. Operational Expenses a. Gas/ Fuel - Php 20.00 b. Transportation - Php 16.00 c. Packaging Materials Labeling – Container – Php 4.00 Decoration – Php 2.00 Php 2.00 Php 8.00 TOTAL: Php 44.00 3. Expected Gross Sale Direct Labor – 10% (Php 164.00 x 0.20 = Php 16.40) Desired Gross Profit – 30% (Php 164.00 x 0.30 = Php 49.20) Contingency – 10% (Php 164.00 x 0.10 = Php 16.40) Cost of Ingredients – Php 120.00 Operational Expenses – Php 44.00 COMPUTATION: DL + DGP + C + CI + OE = Php 16.40 + 49.20 + 16.40 + 120.00 + 44.00 = SERVING: Php 246.00 Php 246.00/ 7 servings = Php 35.14 (estimated amount Php 35.00) 4. Expected Sale Price Php 35.00 per jam OPERATIONAL PLAN As we push through on the idea of trying to put up a new and unique kind of product to the market. Me and May finally came up with such a product to finally introduce to the market and after all the pressures, stressful and sleepless nights we united on this one of a kind idea. And now as we face the true challenge; it is to make the market know our/the product and like our product. We expanded our mind sets to make our cant’s into can specially on the areas like: production/manufacturing, equipment, and general or day to day operations. General/ Day to Day Operations 1. Pre Operating Activities Preparing the kitchen place where we make the product Prepare all the ingredients in making the squash jam Check the stocks or the ingredients and even the equipments use on making the product in every shift. Count revenue in every shift as well Do the finishing product. Registering the business Acquiring the business permit 2. Allocation Working Hours In working our product The Squash Jam we only operate/ make on working day bases from; Mondays to Fridays; or by bulk orders with the allocated time of 8:00 am to 5:00 pm. Wherein me and May are the ones who prepare the ingredients and materials to us and at the same time to process or make the product and to find possible costumers/buyers. Physical Plant In distributing or selling our products we decided to conduct a free taste first and where to put up the free tasting area and at the same time as we give free taste to the public we also introduce our product and to sell it to our potential buyers. Jaira is planning to put the free tasting area on a public market like: Agdao Public Market where its also near in our working place or Bankerohan Public Market as well where there is more possible buyers. However if putting/conducting of free taste fails we will proceed to our original plan: To distribute the product by house to house wherein we introduce our products first to the nearly neighbors and at the same time we can conduct our free tasting. We both agreed to conduct it on Jaira’s place located at Sta. Cruz Leon Garcia Beach Agdao Davao City. Though doing this may take a lot of courage knocking door to door to introduce the product and may encounter a lot of rejections along the way we made sure that we open our minds to these possible thing and are ready to take risks. Sta. Cruz Brgy. Leon Garcia Beach Agdao Davao City STORAGE Where we Squash Jam is processed and made MANAGEMENT/ ORGANIZATION The Squash Jam is owned and personally made by May and Jaira who shared and reunited they’re brainstorming ideas to create a such unique product to introduce to the market. Though both sides are newbie’s on the business we are capable of handling and is ready to face any potential risks on our product. Although we are still conducting a further study on how we can pro long the longevity of our Squash Jam. At this moment we wanted to be more hands on in improving our product so by the next year we could hire two to three employees to help us with our business and publish our product to the local market, these are just one of our plans after a year. And by God’s grace we could step up and share position where we manage only the productions and on how we can still improve our product and business. Wherein, Jaira Hannah Palawan will be the manager and the treasurer. She will be handling the labour, ordering inventory, dealing with suppliers, and able to run the business smoothly. May Bangcoyo will be working as the supervisor and the cook. Wherein she would assist the staffs in making the product and me specially in all math related, she will also be the managing the productions and conducting audits. We assigned our self based on our educational attainment and skills in handling such positions Our main purpose on making this one of a kind product is to promote a healthy life style and be smart at choosing the right food to eat without skipping sweets and our product Squash Jam is one of the best alternatives for those sweets.
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