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Business Name: MIGHTEA

Overview

MighTea is a shop that will offer a new milk tea experience to its customers, wherein, the milk tea is made with especial ingredients that every Filipino would want to try. Milk tea is patronized especially by Filipino teenagers but MighTea's product are for all ages.

Executive Summary

Way back 1980's bubble tea also known as part milk-tea was invented in Taichung, Taiwan. This tea is a Taiwanese tea-based drink (Willard, 2013).

According to Mceneaney (2019), Liu Han-Chieh noted that Japanese people enjoyed drinking cold coffee and so he tried out the idea with tea. His cold teas were so popular that his business expanded and he opened several new branches throughout the city. The bubbles or pearls arrived on the scene in 1988 when during a meeting Liu poured some tapioca balls into his iced teas." And it is said to be a blend of black tea, sugar, creamer and tapioca balls.

With this, the owner though of something refreshing for the people and it will be called MighTea. The MighTea organization is responsible for ensuring that business mission, vision and objectives will be met and with that it's composed of its owner-manager, boba-barista, cashier and service crew. It is also a sole proprietorship owned by Miss Jhona Bacayo, and will be located at Sto. Nino Extension, Tacloban City. The small shop's mission is to create a different teaware brand with a superb drinking experience that'll leave its customer satisfied and looking for more.

CHAPTER ONE

THE GENERAL COMPANY DESCRIPTION

I. Business Name

The name of the business will be MighTea. The reason for the selection of the name is because the business aims to become the leading and most successful supplier of milk tea, and with that, the words such as powerful and extraordinary in short "mighty" will be associated with the business.

The owner of the business is Miss Jhona Bacayo. She is a coffe lover turned into a milk tea lover and she want's other to experience how to be in love with a beneficial drink.

II. Business Location

The MighTea will be located at Sto. Nino Extension, Tacloban City. The reason for choosing the location of the business is because of the following:

1. The population of the area is reasonably high that will help boast the market of the product,

2. The area itself is an attraction to many people especially tourists,

3. There is a good infrastructure, such as, transport and buildings, and

4. The security around the area is also good, the workers and customers will fell secured and safe around the area.

III. Description of the Project/ Product

MighTea is a new proposed business in Tacloban City, it's a small milk tea shop that will offer different taste of milk tea --an iced drink made from tea and small tapioca balls, usually served sweetened and mixed with milk.

MighTea will provide the best quality ingredients for its customers and will make sure the that price would be low? a good quality product at low cost. MighTea will also make sure to accommodate and response to its customer's feedback and requests.

IV. Project Timetable and Status Table

1. MighTea Timetable All activities stated above will take place when the business plan and feasibility study for the business is done and successful.

Activities 1st Month 2nd Month 3rd Month 4th Month 1st & 2nd Week 3rd & 4th Week 1st & 2nd Week 3rd & 4th Week 1st & 2nd Week 3rd & 4th Week 1st & 2nd Week 3rd & 4th Week Buying Lot Building Shop Equipment and Supplies Permit and Liscences Employee Hiring Other Preparation Grand Opening Start of Normal operation

V. Nature of the Industry MighTea is a type of business-to-consumer (B2C), wherein, the business sells products or services directly to its consumer.

VI. Mission, Vision, Goals and Objective

a. Mission To create a different teaware brand with a superb drinking experience that'll leave its customer satisfied and looking for more.

b. Vision Our vision is to be the largest and most successful brand of teaware that'll offer tranquil and inimitable experience to its customers.

c. Goals To build an empire that everyone will love and adore and to show how creative a Filipino can be.

d. Objectives ?To serve a well-defined product that has a good quality with a low cost that will astonish every customer.

?To let them feel home with the help of the aesthetic and refreshing interior and atmosphere.

?To slay every competition and be on top.

CHAPTER TWO THE OPPORTUNITY/ INDUSTRY AND MARKET (MARKETING PLAN)

I. Services and Product

MighTea will offer the finest milk tea that will enable everyone to have a refreshing day. The underlying philosophy in picking ingredients is to choose lines that will carry unswerving competitive prices, good quality and customer's satisfaction.

MighTea milk tea will have various of flavors that the customers can pick from and it also varies in different sizes. The milk tea is available to customers through the Mightea shop only, but aside from this, MighTea offers a full-service delivery?bringing the milk tea of the customer's taste directly to their doorstep.

One of the important components of the business is services?for the owner, a high-quality product is nothing if the service is not as high quality as its product. With that, MighTea also offers the best service that will leave its customer astonish and in love not just with the shop nor the product but also with the management and marketing team. The following would be the services that MighTea will offer to its customers.

? Free Wi-Fi to its customers.

? Every group of five customers will have 5% off with the total amount of their bill.

? Every group of six to twelve will have 10% discount with their total bill.

? On the customer's 3rd purchase, they can receive a free milk tea on their 4th purchase.

? Make sure to release samples of the vastest and latest flavors or product, so that the customers will be updated on what's new.

? Refreshing and peaceful atmosphere that will suit to any kind of personality, and with that surely, the customers can have a good time staying in the MighTea.

? The theme of the shop and other promos will vary on the occasion or session.

II. Competitors

a. Direct Competitors

Z E N T E A

STRENGHT

WEAKNESS

OPPORTUNITY

THREAT

? Idiosyncratic signature style, packaging and logo that can easily grab the attention of all ages.

? Low price

? Full-service delivery.

? Welldisciplined

? Undifferen tiated product that looks similar to other brands.

? Expensive ? Early closing time.

? High number of customers will be curious and check out what's new with the look, taste and flavors.

? New investors and sponsors. ? Known for a long period of time.

? A huge teaware brand that has lot of branches all over the world.and trained workers.

? Promos and best service quality.

I N F I N I T E A

? Logo and packaging

? Low-price

? Full-service delivery

? Good interior

? Undifferen tiated product that looks similar to other brands.

? Expensive

? Early closing time.

? High number of customers will be curious and check out what's new with the look, taste and flavors. ? New investors and sponsors.

? Known for a long period of time.

Table 2.

SWOT Analysis: Direct Competitors

Advantages: ? The shops interior and atmosphere will make everyone relaxed and at peace.

? Best and well-organized management and marketing team.

? Advertising products will be easier because there's a lot of people around the area, and it will lessen advertisement expense.

? Lower cost but the product's quality is still the best.

b. Indirect Competitors

Mango Magic

STRENGHT WEAKNESS OPPORTUNITY THREAT ? Full-service delivery. ? Welldisciplined and trained workers. ? Affordable Price ? Undifferen tiated product that looks similar to other products and brand. ? Expensive ? High number of customers will be curious and check out what's new for its new look, taste and flavors. ? Known for a long period of time. Table 3. SWOT Analysis: Indirect Competitor Advantage: ? Latest trend for all ages especially for the students.

III. Demand and Supply Analysis

* Target Market

Tacloban City is known as a 1st class highly urbanized city in the Philippines, and also the gateway to Eastern Visayas. Lot of people come and visit the place every single day and the population there reaches 242,089 (2015 census), and as of now (2019), MighTea's daily target market will 0.005% (121 people) of Tacloban's total population.

*Supply

There are two direct competitors of MighTea which produce lot of supply everyday but considering the number of populations in Tacloban City plus the visitors it is way too low. MighTea must prepare some strategy to gain more customers and if that case will happen this will be the estimated supply for the next five (5) years.

*Year Estimated Supply 2019 (Current) 35,332 2020 36,215 2021 37,099 2021 37,982 2023 38,865 Table 4. MighTea Annual Estimated Supply Demand Tacloban City have an undeniable huge population and in connection to that the total potential demand for the product would be expected the way it will be illustrated. The illustration will show the estimated potential demand for 5 years. Year Estimated Demand 2019 (Current) 34,449 2020 35,774 2021 37,099 2021 38,424 2023 39,749 Table 5. MighTea Annual Estimated Demand Year Estimated Demand Estimated Supply Gap Unsatisfied 2019 (Current) 34,449 35,332 (883) (2.56) 2020 35,774 36,215 (441) (1.23) 2021 37,099 37,099 0 - 2021 38,424 37,982 442 1.15 2023 39,749 38,865 884 2.22

Table 5. Demand-Supply AnalysisIII.

*Strategy

To have a strong build up MighTea will use the marketing mix which is the 4P's: Product, price, place and promotion. Every business must have this to secure the growth of the business.

*Product

? Least Cost- MighTea will produce products at the least possible cost, and will pass it to the consumer with low priced affordable products. But, before purchasing a low-cost ingredient, it will be analyzed and evaluated first, of course, good quality must be present with those ingredients. ? Branding- the business will create a new brand that will be known with its trade name, generic category, logo, and tagline. With this, brand equity will be observed. Price

? Market Penetration- the price will be set lower that planned, everyone will give a try with the product because of this low price but overtime, when the customers fell in love with the product MighTea can increase its price without losing a costumer.

? Free Pricing- as a new business, MighTea can use the free pricing. Costumer's will think that it is a promotion but it's eventually one the pricing strategy of the business. Place

? Distribution Channel- it can be either on-trade and offtrade for a reason that the product will be directly available at MighTea Shop its either they'll consume it there or take it out. In addition to that, MighTea provide a full-service delivery. Promotion MighTea will offer the best promotions that everyone will enjoy. The following will be the list of promotions:

? Price packs

? Coupons

? Contests and Games Though, these promotions will only be available at limited time and will also vary with the season.

Please help me for Chapter T

II. Form of Business Organization Mightea is sole proprietorship business, owned by Jhona Bacayo, wherein, she has all control with the business. She invested P3, 000,000.00 as a start-up capital. ORGANIZATIONAL STRUCTURE Owner-manager Boba-Barista Cashier Service Crew Service CrewCHAPTER THREE TEAM, MANAGEMENT AND ORGANIZATION (MANAGEMENT PLAN) I. Employee's Qualification Employee No. Qualification Specification Boba- . Must be a NCII Food Responsible for barista and Beverage creating and passer . preparing the milk 18 years old and tea. about. Can work under pressure. Cashier 2 . Must be high school Responsible for graduate. tracking the . Must have at least operation's sales and expenses. 6-month work experience. Pleasing personality. . 20 years old and above. Can work under pressure. Service 4 Responsible for Crew . Must have at least taking the 6-month work customers order and experience . serving it. . Pleasing personality. . 18 years old and above. * Can work under pressure