The document discusses starting a lugaw business. It notes that lugaw is a popular business model in other areas and presents studies showing the porridge business is thriving. It states the feasibility study is important to understand market acceptance and financial viability before starting. The proposed business will offer 5 porridge varieties, expanding on competitors only offering 2 varieties, to better meet customer needs and demands.
The document discusses starting a lugaw business. It notes that lugaw is a popular business model in other areas and presents studies showing the porridge business is thriving. It states the feasibility study is important to understand market acceptance and financial viability before starting. The proposed business will offer 5 porridge varieties, expanding on competitors only offering 2 varieties, to better meet customer needs and demands.
The document discusses starting a lugaw business. It notes that lugaw is a popular business model in other areas and presents studies showing the porridge business is thriving. It states the feasibility study is important to understand market acceptance and financial viability before starting. The proposed business will offer 5 porridge varieties, expanding on competitors only offering 2 varieties, to better meet customer needs and demands.
The document discusses starting a lugaw business. It notes that lugaw is a popular business model in other areas and presents studies showing the porridge business is thriving. It states the feasibility study is important to understand market acceptance and financial viability before starting. The proposed business will offer 5 porridge varieties, expanding on competitors only offering 2 varieties, to better meet customer needs and demands.
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INTRODUCTION
Lugawan business is an existing business model offered in different parts of the country. It was noticed that this type of business is non-existent in our locality. The idea is that Lugaw could be the easiest alternative for people to eat especially of they are in a hurry or to take a light meal. Neri (2020) presented a study that porridge is a thriving business as evidenced by the growing number of Lugaw in the city of Manila.
In every business, investors are keener on knowing its viability. Using a business feasibility study would mean a basis among businessmen to know the market and financial forecast of a certain business. Morales (2019) explored the essence of business viability as evidence-based specifically market acceptance and financial capacity. The importance of FS is that it is utilized to provide information on business viability to know the knowledge before the conduct of the business project (ISU, 2020)
The researchers identified lugaw as a good business endeavor as it was noted that there are only a few sellers of lugaw in the vicinity, hence to take advantage through innovating the product is considered. The Lugaw business will offer 5 different offerings as opposed to the existing competitors with only 2.
Gap – Inability to provide the products to the customer because of: price, availability,
Purpose -
You start by presenting either of the following:
1. Business model. What is your business? What do you think makes your business important in terms of. Value, product, necessity (or need by the people). You need to insert related studies (RRL). Example:
Lugawan business is an existing business model offered in different parts of the country. It was noticed that this type of business is non-existent in our locality. The idea is that Lugaw could be the easiest alternative for people to eat especially of they are in a hurry or to take a light meal. Neri (2020) presented a study that porridge is a thriving business as evidenced by the growing number of Lugaw in the city of Manila.
2. You offer why a feasibility study is important in starting a business.
In every business, investors are keener on knowing its viability. Using a business feasibility study would mean basis among businessmen to know the market and financial forecast of a certain business. Morales (2019) explored the essence of business viability as evidence-based specifically market acceptance and financial capacity.
