NU12 # 4 by Anthony G. Parungao – Business Innovation
SPEntrep S10
Inside our subdivision, majority of the successful business enterprises are related to food (shawarma, siomai, goto/mami, tapsi, burger/hotdog kiosks, liempo, pancitan, etc). My sister-in-law started a home-based siomai/siopao wholesale business. Last month an opportunity to rent a space was offered and she grabbed the 15 square meter rentable space for Php 6k/month along one of the major roads and fronting a public school. Initially, she set up a counter with a streamer that displayed the siomai & siopao being sold and cold softdrinks to go along with the siomai or siopao.
After a week, she consulted me and solicited suggestions on how to attract more customers and increase sales. I suggested she sell lugaw with a variety of toppings (hard boiled egg, crushed chicharon, siomai, tokwa't baboy and turbo liempo) to make the simple lugaw more exciting and flavourful for the customers. Then the canton with varieties like the plain canton with vegetables and chicken stock, canton with hard boiled egg, dry pancit canton, rice toppings with siomai and barbeque was added in the menu. The menu can be unlimited in terms of combining the available ingredients. So far, customers enjoyed the variety of menu and price was very competitive compared to other eateries serving the same food.
The business started with relatively small capital and it now earns a daily revenue of Php1,700- Php2,500/day. Overhead cost is only Php 6k/ month on rental and a fixed Php 700/month for water and electric consumption. Not bad for a start-up business. <wow this should appear in your presentation tomorrow!>
Aside from the food joints, there are numerous internet shops within the vicinity that attracts customers majority are students from the public school and residents inside the subdivision. Every now and then my sister consults me on the next move or gimmick that we will launch. < you are the NU business ideas generator for her? Magaling>
Our next project is to expand our market from the loyal customers within the neighborhood and the walk-ins from the peak foot traffic that is generated every Mondays-Fridays. In one of my visits in the eatery, I took time and observed outside the store, in less than an hour, I noticed customers coming out of the internet shop and bought snack to fill their cravings.
This gave me the idea on how to expand market reach. We initially talked to the owner of the internet shop and offered that we put a food menu display inside the internet shop. When the customer places the order, they can call us and we can deliver. Internet shop is only a few steps away from our eatery. Food is delivered on foot and is still hot and fresh upon arrival.
After only a week of delivery service, the owner called us and suggested that we put-up a table right outside their internet store and display the food we can serve – free of rent.
This may not be a so unique business idea but somehow, we managed to see the opportunities surrounding the environment and also managed to innovate on simple Filipino meals that we always crave for anytime of the day.
By Anthony G. Parungao 4 Vg
SPEntrep S10
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