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Group 2 (Cabiling, Linchoco, Madrigal, Ocampo)

Tasty Tater

I. Executive Summary

The snack industry has been a great trend in the Philippine market.
In terms of consumption among Filipinos, it has evolved from
consuming goods to consuming services. The demands for these
various goods are continually increasing.

The Tasty Tater stands a chance in competing with its competitors.


Knowing that food kiosks are widely patronized by people for snack
products, Tasty Tater provides a snack product with a familiar
ingredient which is potato. Many people are fond of potato snacks
like potato chips, fries and the like. The product of Tasty Tater
provides a new fun way of enjoying potato snacks with its new
variances in potato as snacks.

Tasty Tater then found a gap in potato snack products in which


introducing new innovative potato snack products will fill in the gap
on potato snack products by offering exciting new variances of
potato snacks in the market.

Enzo Salta, the owner, will provide PHP 200,000 in investment that
will cover the bulk of the start-up expenses.. The fund will be
sufficient to cover the companys expenses throughout the first year
of operations, which is the most critical from the cash-flow
standpoint.
II. Marketing Plan
Market: The target market of Tasty Tater are kids, students,
employees, and people on the go.

Products: Tasty tater aims to offer a new and exciting way to serve
potato snacks. Potato products are widely used and sold as snacks
which are almost of the same variant in serving. Tasty tater will serve
potato snacks in a new way with 3 potato snack variants. Tater bites,
tater cubes and waffle spud which are new and fun ways to have
potato as snacks which are delicious, innovative, fun and exciting new
ways to have potato snacks.

Tater Cubes
Mashed potato cubes mixed with chunks of ham, bacon and
chicken with cheese filling on the center. It will be coated with
bread crumbs. The tater cubes has 3 different kinds of dip which
is cheese, barbeque, and sour cream.

Tater Bites
The Tater Bites is similar to a sandwich burger which has ground
chicken as its patty, lettuce, cucumber, and instead of regular
buns fresh potatoes will be used. The dressing which will be
spread on the inside also has 3 variances which are cheese,
barbeque, and sour cream.

Competitors (SM Center Muntinlupa): Potato Corner

Competitors in the industry: Potato Corner, Eat my GF, NY Fries and


Potato
Madness

Pricing: We will use Competitive Pricing for our products wherein we


will set a price for our products that is near or equivalent to the prices
set by our competitors.

Aside from competitive pricing, we will also consider cost-plus pricing.


We will make detailed computations of the costs for each product, and
set prices by adding a certain mark-up on costs incurred.

Advertising and Promotion:


As a marketing tool, having a good storefront is critical for any startup.
For new businesses, SM helps them to promote their products by
allowing them to post tarpaulin and give flyers near the entrance.

The proprietor will also use social media accounts to market the
products. Promoting the business through social media is a good way
to reach our potential customers.

III. Operating Plan

Location: The preferred location for the business is SM Center


Muntinlupa.

Operating hours: Mall hours

Production Process (Tater Cubes)


Tater Cubes is prepared daily to ensure the quality and freshness of the
product. The production process of Tater Cubes is as follows: a)
washing of potatoes; b) peeling of potatoes; c) boiling of the peeled
potatoes. While the potatoes are being boiled, the next step will be; d)
preparing of the fillings, like bacon and cheese, by cutting the bacon
into bits; e) mixing and cooking of other fillings-ham and chicken. After
preparing the fillings, the next process is; f) mashing of the potatoes;
g) weighing and combining of the fillings into the mashed potatoes; h)
forming of the mashed potatoes into cubes then coating it with the
flour, egg and breadcrumbs. After this process, the Tater Cubes is now
ready to be deep fried.

Production Process (Tater Bites)


Tater Bites is prepared daily to ensure the quality and freshness of the
product. The production process of Tater Bites is as follows: a) washing
of potatoes; b) peeling of potatoes; c) Grating of potatoes; d) Putting
flour and egg into the grated potatoes e) Molding and cooking of hash
brown bun; e) cooking of patty; f) preparation of lettuce, cucumber and
sauce; g) Assembly of Tater Bites. After this process the Tater Bites is
now ready to be served.

Production Schedule and Labor Requirements


The proprietor will produce the products daily to ensure the quality and
freshness of the product to identify the daily sales. The mashed
potatoes spoil easily, thats why the partners decided to perform it
daily. The proprietor decided to produce a total of 3 kilos (105 cubes)
for Tater Cubes and (40 hash brown buns) for the Tater Bites. And this
will be adjusted depending on the consumers demand in a certain
time. Also The partners decides to add a new dip flavor over time.

IV. Timeline

First year of operations


Tasty Tater becomes extremely successful and has requests from other
communities for Tasty Tater operations to be opened there. This opens the
door for franchising opportunity.

Second year of operations


The proprietor forecasts opening three new locations in the second year of
operations.

Third year of operations

By the third year, the growth and community support for the Tasty Tater
will have made the news in more than just the metropolitan area. It can
be assumed that competitors, such as Potato Fries or NY Fries, will have
seen the press and realized the value proposition in the Tasty Taters
business plan. This will make Tasty Tater an attractive target for buyout.
The company could be purchased by a much larger competitive concern
by the end of the third year.
V. Financial Projection

Required Start-Up Funds

Amount Totals
Fixed Assets
PHP
Food Cart 80,000

Equipment 15,000 95,000

Operating Capital

Security Deposit 7,000

Inventory 10,000

Legal and Accounting Fees 3,000

Rent Deposits 20,000

Utility Deposits 10,000

Supplies 4,000

Advertising and Promotions 5,000

Licenses 5,000

Other Initial Start-Up Costs 3,000

Working Capital (Cash On Hand) 5,000

Total Operating Capital 72,000


Total Required PHP
Funds 167,000

Income Statement

299,25
Sales (monthly) 0.00
181,608.
Cost of Sales 00
117,642.
Gross Profit 00
Operating
Expenses
20,000
Rent Expense .00
Advertising and 2,000.0
Promotions 0
4,000.0
Supplies 0
20,000.
Salary Expense 00
10,000. 56,000.0
Utility Expenses 00 0
Earnings before 61,642.
taxes 00
VI. Balanced Scorecard

Financial Perspective
Objectives Performance Target Initiative
Measure
Increase Production Level 22% increase/ Stabilize
Production year Production Cost
Increase sales Income 30% increase in Managers
Statement and 2nd yr develop
Sales Forecast forecasts

Customer Perspective
Objectives Performance Target Initiative
Measure
Develop Survey 90% Satisfaction Create an
Customer Customers Rate account in
Relationship Zomato and let
customers rate
the product and
give feedback.
Develop Product Competitor Provide two new Research client
Options product product options needs and
information and match investigate
competitor competitor
offering offerings

Business Process Perspective


Objectives Performance Target Initiative
Measure
Lower cost Production Reduce cost by Identify
structure costing reports 10% production
delays and waste
Develop new Investment Level Less than P5,000 Increase
product in R&D per quarter resources to R
&D
Learning & Growth Perspective
Objectives Performance Target Initiative
Measure
Develop Client 10% increase Customer
customer service Satisfaction Service Training
staff
Production Benchmark 10% Cost Partner with
Efficiency and percentage reduction production and
Cost reduction from determine
Management existing levels benchmark
Training levels