APPLIED ECONOMICS 12

PARTS OF BUSINESS PLAN

Title Page:

Our business is a small local business that offers a unique and instagramable food
products. Its name was originally created from our names. NNK is the acronym for Nash, Nicole,
and Katrina. It's business quote “Noon, Ngayon, at Kailanman” means that we will serve you as
long as we can. We will give you what you deserve before the business even starts, today, and
tomorrow

Table of Contents:

Ⅰ. Executive Summary

As Filipinos, we have a fondness for eating any time of day. That is why we have aligned
ourselves with the food industry, specifically that of pancakes. Our product may appear to be
ordinary, as it is simply a pancake, but it is Japanese-inspired and has its own unique
characteristics. In addition to its delicious taste, we plan to add creamy sauce as toppings, as well
as other toppings like chocolate chips and cookies. Furthermore, we offer customers the option to
customize their Tacofflé with their own flavors and toppings.

Pancake business has become increasingly popular in recent years, however, it is often
the same product sold over and over again. With our pancakes, we will be able to capture the
appetites of most Filipinos, regardless of age or gender. We will also draw in those who are
constantly changing their taste preferences, as well as those who want to choose the toppings
themselves due to our personalized options. Because of our affordability, uniqueness, and
deliciousness, we are confident that our customers will be willing to purchase our product.

The addition of creamy sauce and other toppings to the top of pancakes is an excellent
way to satisfy the taste buds and hearts of Filipino consumers. We believe that being personally
involved in the food preparation process is more satisfying than eating the food prepared by
someone else.

Because our product is perfect for students and for everyone, it will be distributed in San
Ignacio, because the place we're building is directly opposite the school and near the highway.
We are offering a reasonably priced option for those who wants to have some snacks, in order to
satisfy our customers. To avoid disappointment, our aim is to ensure that the product tastes good.

Our target customer is students, youths, citizens of our barangay, and anyone who wants
to buy our product. If we venture out, we aim to reach a larger number of potential customers.

Ⅱ. Company Description:

A. Vision
To be a premier supplier of mouth-watering cuisine and top-notch customer service
through offering a responsive and adaptable service with presentation and consistency that
creates a lasting impact.
B. Mission
We are here to satisfy people's cravings and foster connections among individuals through
the taste of our appetizing meals.
C. Goals
• To be a leading provider of delicious meals in San Ignacio, San Pablo City.
• To provide outstanding customer service.
• To leave a lasting impression on the customer.
D. Objectives
• To make money and expand market share through winning new customers.
• Be well-known in San Pablo City in order to improve brand exposure and reputation.
• To satisfy customer's cravings

Ⅲ. Product

What is Tacofflé? Tacofflé is a Japanese-like pancake that uses ordinary ingredients to

make quick breads but with a twist that makes our product unique. We made it in the shape of a
taco to be different with unique toppings that are new and pleasing to the eyes of the people.

A. Ingredients:
2 egg yolks 1.00
1 tbsp evaporated milk 4.00
1/2 tsp vanilla essence 1.00
3 tbsp all purpose flour 2.00
1/2 tsp baking powder 1.00
3 egg whites
1/2 tsp white vinegar 1.00
1/8 cup white sugar 3.00
21g nestle cream 6.00
32g condensed milk 5.00

B. Product Packaging:
Packaging is one of the most important factors that a business should consider. Since our
business offers delicious meals, our packaging will be committed to the eco-friendly
concept. We will continue to prioritize environmental health and cleanliness through the use
of white packaging or sustainable packaging. Our products will be protected by a small box
(7*13*7) made of paper from recycled boxes or tree pulp. These boxes are strong, resilient,
and made with high-quality materials that can handle the weight of the product we're selling.
Furthermore, these boxes are easy to dispose of. We will also avoid using plastic bags as
much as possible and instead, we will be using paper bags if needed.

Kraft Open Taco Box

 Wooden Spoon
C. Health Benefits
Our products have the following health benefits: It increases energy. Pancakes are
high in carbs, which are the body's major source of energy. Pancakes as a snack or even in
the morning could provide you with the energy you need to get your day started. Pancakes
can be cooked with an extensive variety of ingredients, allowing you to include essential
nutrients. Pancakes can be a healthy source of protein by include ingredients such as eggs
and dairy or plant-based milk. Protein is required for muscle repair, development, and
proper physiological function. Pancakes also provide plenty of beneficial topping options,
such as nuts, which add fibre, vitamins, and minerals to our pancake. Pancakes have been
shown to improve mood.

Ⅳ. Sourcing

When it comes to obtaining raw materials and ingredients, we recognize the importance
of quality and dependability. We are committed to ensuring that each element used in our
products meets the highest standards. To that purpose, we will set precise assessments for all
possible suppliers, focusing on factors such as product quality, ethical sourcing procedures, and
environmental sustainability. We will purchase it from online retailers and the grocery store,
specifically, at Puregold Supermarket and Shopper’s Gateway. Furthermore, we will keep close
communication with our other possible suppliers in order to create strong and transparent
partnerships that foster mutual trust and collaboration. We hope that by implementing these
measures, we will be able to supply our customers with products that not only satisfy their
expectations, but also align with our core values of excellence and integrity.

Ⅴ. Organization and Management (Organizational Chart)

Ⅵ. Market Analysis

A. Target Market
Nothing of our competitors in Barangay San Ignacio offered this type of food
since it is unique. NNK, as a business, must obtain market share from a variety of
customers, particularly those looking for affordable meals in today's market.

Everybody, especially young people who are always looking for delicious and
aesthetically pleasing snacks, can now try our very own pancakes without worrying
for their budgets or cash. Its common market, which is always looking for new and
aesthetic food online, specifically pancakes, may now enjoy our products, which are
prepared from unique toppings that are truly delicious and reasonable in terms of
price and quality.
B. Competitors
The food industry is undoubtedly a huge and wide field where every entrepreneur
strives for profitable returns. NNK Pancakes, located in Barangay San Ignacio, San
Pablo City, is competing with a growing number of food businesses. Each
establishment prides itself on the uniqueness of its products, with a diverse selection
of foods, especially snacks. In this context, the NNK pancake business separate itself
by producing a wide range of truly distinctive pancakes that stand out in the business
world.
C. Price of Product
We make every effort to ensure that our products are always of excellent quality. Our
commitment for providing quality products at a reasonable price is unwavering. As of
now, our product's price will be 55 pesos and we come up to this price using the cost plus
pricing. While prices can vary due to factors beyond our control, we constantly prioritize
providing our consumers with affordability and dependability. We are constantly looking
for methods to improve the cost of our products so that everyone has access to them
without losing value.

Ⅶ. Marketing and Sales Strategies

A. Sales approach
To market our products, increase public advertency and increase sales, we will use
the following sales approaches and techniques:
1. Develop a facebook page and website to promote the products and achieve
comprehensive market coverage. All deliveries, online orders, and inquiries are
handled through private messages on our Facebook page account.
2. Take a picture and create a video about the product and post it in social networking
platforms such as Instagram, Twitter, and other sites that allow customers to look at
 our products.

3. NNK uses a premium sales approach that provides coupons and discounts that our
loyal customers can use to purchase products.
4. Additionally, the company is also offering free additional toppings when you
purchase up to 3 or more Tacofflés.
5. In the future, we plan to consider collaborating with businesses in the same
industry.

B. SWOT analysis
The strategic approach and decision-making processes of our business are
designed to be guided by a careful SWOT evaluation of the internal as well as
external settings. To increase the business's market share and sales of products, it is
critical for the business to take advantage of its strengths by fully utilizing every
potential opportunity that occurs.

Strengths:
• Unique
• Affordable / Budget friendly
• Easy to make

Opportunities:
• More possible customers because of higher population and its location
• Social media presence through advertising
• Customer Loyalty

Weaknesses:
• Taste buds
• Lack of staffs
• High expenses
Threats:
• Rising cost of ingredients
• Low sales due to bad weather
• Possible competitors

Table 1 Strategies to address Weaknesses

WEAKNESSES STRATEGIES

Changing customer taste and preference We will attempt to offer different kinds of
toppings that will attract the customers of all
ages, not only teens and adults. We will ensure
 that they are not dissatisfied and we will
continue exploring the preferences of
individuals until we find the perfect taste that
they will not hate.

Lack of staffs Recruit additional individuals or plan a training

program to train people who will be suitable
for the position at hand.

High expenses Reduce your energy use. Simple efforts such as

turning off lights when not in use or
implementing solar can make a significant
difference in your energy expenses. Reduce
excessive spending on things like travel and
entertainment. Also, take advantage of
technology. There are many affordable or even
free web tools available that can help us
manage our business more efficiently. Use
them to save time and money, such as instead
of paying fliers or posters, we may advertise
our products using social media. Finally, by
collaborating with other businesses in our field,
we can reduce marketing and sales
expenditures. This can be accomplished by
collaboration of products or services or joining
cooperative marketing initiatives.

Table 2 Strategies to address Threats

THREATS STRATEGIES

Rising cost of Ingredients Look for affordable substitute product that also
offers good-quality.

Low sales due to bad weather Provide online service and free delivery around
the area we are in so that they can continue to
order our products without going outside.

Possible Competitors Use unique techniques. Include some cute,

instagramable, or artistic stuffs in the shop that
everyone, especially young people, will enjoy.
 Encourage them through promotion, for
example, buy 1 take 1, birthday promotion, and
some more.

Ⅷ. Costing

A. Method of Pricing
NNK PANCAKE BUSINESS would utilize a specific methodology for
determining the pricing of its products. This particular approach is known as the cost-plus
pricing strategy, a widely adopted method within the realm of start-up enterprises.

NNK PANCAKE

Variable Cost

Direct Materials 6.12

Direct Ingredients 21.75

Direct Labor 15.00

Total Variable Cost 42.87

Fixed Cost 2.00

Total Cost 44.87

Profit Margin@20% 8.974

Unit Cost 53.844

Selling Price 55.00

Direct Material Cost per Tacofflé

Wooden Spoon 1.40

Kraft Open Taco Box 4.72

Total Direct Material 6.12

Direct Labor Direct Rate Cost per Tacofflé

Workers 150.00 15.00

Total 150.00 15.00

Utilities Fixed per Tacofflé

Electricity 0.50

Gas 1.00

Water 0.50

Total 2.00

Direct Ingredients Cost per Tacofflé

2 Egg 1.17

1 Tbsp Evaporated Milk 3.76

½ Tsp Vanilla Essence 0.77

3 Tbsp All Purpose Flour 1.40

½ Tsp Baking Powder 1.05

½ Tsp White Vinegar 0.17

⅛ Cup White Sugar 3.10

21g Nestle Cream 5.58

32g Condensed Milk 4,75

Total 21.75