GREATASTE SIOMAI BUSINESS PLAN

Prepared by :

Kim Cyrel Lim, Arianne Mae Formarejo, Alexandra Eila Aranton, Shantal Mea Viente, Aj Bulagao,
Emmanuel Cabrizos, Jayvee Hortilano, Riel Taman
 𝑻𝑯𝑬 𝑪𝑶𝑵𝑻𝑬𝑵𝑻𝑺 𝑶𝑭 𝑻𝑯𝑬
𝑩𝑼𝑺𝑰𝑵𝑬𝑺𝑺 𝑷𝑳𝑨𝑵

I. Introduction
a. The Business Concept and the Business Model
b. The Business Goals: Vision, Mission, Objectives, and Performance Targets
c. The Business Offering and Justification
II. Executive Summary
III. The Business Proponents : Organizers with their Capabilities and Contributions
IV. The Target Customers and the Main Value Proposition to the Customer
V. The Market, Market Justification based on the Industry Dynamics and the Macro Environmental
Factors Affecting the Opportunities and Threats in the Market, the Size, Potential and Realistic
Share of the Market
VI. The Product and Service Offerings
VII. The Enterprise Strategy and Enterprise Delivery System: Business Competitiveness
VIII. The Financial Forecasts and Expected Returns, Risks, and Contingencies
IX. Environmental and Regulatory Compliance
X. The Capital Structure and Financial Offering: Returns and Benefits to Investors, Financiers, and
Business Partners
 INTRODUCTION

The Filipino population has unquestionably embraced the siomai dish, which calls for ground pork
and was invented in China. Everywhere you go in the Philippines, you may see and eat this kind of
dumpling. In recent years, Filipinos have come to love siomai. In addition, because it has such a big
impact on the food industry, food innovation is unquestionably important to business. The ability to
adapt allows food businesses that are successful to continuously satisfy the demands and wishes of their
customers, which leads to growth.

Undoubtedly, steamed buns known as siomai are among the foods that are most popular and
bestselling. No matter their status or age, many individuals now enter the Siomai booths that are spread
throughout the world, even in other local locations. Since siomai is today one of the best-selling foods in
the food sector, many people view it as a successful commercial enterprise. This recipe is quite flexible. It
may be enjoyed alone as a snack or coupled with rice to make a full meal, so you can sell it whenever
you want. You probably already have some of the components necessary to prepare siomai in your
kitchen. They are readily available at markets and supermarket stores.

A. Business Concept and Business Model

The business is planning to locate in place at the school because of the mass number of customers.
Since siomai carts are all over, we frequently see them along busy streets, alleys, and transportation
hubs. Therefore, we came up with the idea to bring this tradition to our school; despite the uninteresting
dishes they sell in the canteen, we want to eliminate the undesirable old taste in the canteen and
captivate the hearts and tastes of all teachers and students in the School. To compete with other
businesses, not only will we sell cheap yet delicious Siomais but, we developed Steamed or Fried for
choices with a kick of sweetened homemade alamang to give the conventional product a totally different
but flavorful twist.
 B. Business Goals Mission, Vision & Objectives :

1. Mission and Vision: To provide amazing food that makes everyone enjoy eating. The results of our
labor will be shared by all as we expand in both number and quality. We will do this as a single
organization and family that welcomes and embraces all viewpoints.

2. Objectives: To test the business, we should concentrate on its objectives so that we would be able to
prevail the confidence and interest of our clients.

These are the desired goals of our business:

• To earn enough profit

• To satisfy the costumer’s taste and need

• To bring affordable food without losing its delicious taste.

C. The Business Offering and Justification

Greataste Siomai, our siomai has distinctive qualities that none of the competing items have, making it
unique among products with our sweetened homemade alamang with a twist. Greataste Siomai is a
snack for everyone, we tend to choose a one flavor siomai which is chicken, because we value our
customers who have a different cultural preferences that makes it also halal.
II. THE EXECUTIVE SUMMARY

People loves siomai, which is a well-liked cuisine item. The mission and vision of the company
served as the foundation for the passion and labor we put into it. Start a siomai business to meet the
need for this delectable and practical snack or dinner choice. The business’s short-term aim is to provide
the public with siomai made in the Filipino way at a fair price. While hopefully the long-term goal is to
satisfy customers’ appetites with our product’s better and distinctive style while also making an
impression on each and every consumer. Siomai businesses often differentiate themselves by offering a
variety of flavors and fillings.

The proposed business is committed to promote a business that tends to care for the nutrition and
health of our customers specially those who are maintaining their balance diet. In comparison to other
siomai varieties, chicken siomai often has lower cholesterol levels. A diet high in cholesterol can raise the
chance of developing heart disease, so choosing a lower-cholesterol food like chicken siomai may be
good for your heart. Our product is mostly made of chicken flesh and a combination of carrots with a
distinctively Filipino touch. The siomai can be used for frying as well. Chicken siomai is renowned for its
savory and umami characteristics, which are frequently accentuated with ingredients like garlic, onions,
soy sauce, and sesame oil.

Chicken siomai is a delicious culinary experience because to the marriage of flavorful ingredients and
well-seasoned ground chicken. Protein, which is necessary for many body processes, is abundant in
chicken. Protein is necessary for the development and maintenance of muscles as well as the synthesis
of hormones and enzymes. While there are benefits to eating chicken siomai, it’s still vital to keep your
diet balanced overall and eat a variety of meals to suit your nutritional demands. Individual dietary
choices and needs should also constantly be taken into consideration. Siomai can be a relatively
healthier food choice compared to some other fried or greasy snacks. Steaming the siomai instead of
frying it reduces the amount of added fats and oils, making it a more favorable option for individuals
concerned about their health and dietary requirements.
 Ill. BUSINESS PROPONENTS

The eight people in the groups who may be regarded as student entrepreneurs are the advocates. They
can be classified into groups according to their talents, capacities, and interests, and everyone of them
has something to offer. Because each member should be passionate about what they do, the proponents
contend that splitting them off and giving them the work they desire can increase the company’s
success.

Investors who are prepared to invest in the business act as resource mobilizers and funders. The eight
supporters of the business contribute to its capital and can act as financiers and resource mobilizers for
us. The company welcomes investments from other investors in an effort to grow the company.

Group leaders and deputy leaders can handle governance and top management because it’s all about
management. Members are led by these leaders so that they will be followed. Having a leader does not
preclude the other members from contributing, though. Everyone’s suggestions and approvals are
crucial to the company’s teamwork. The group can develop a variety of concepts and ideas in this section
to help the company.

The final group is the operating and support team, which consists of all participants. The individuals who
create the main product, chicken siomai, might be added as additional team members to the operation.
Some people may work to manage a company and a branch office. Although some members work as
advertisements for the business, you must obviously pick those who are good at making a pitch. Others
will market the goods or handle cash as if they were a store cashier.
lV. The Target Customers and the Main Value Proposition

Siomai is often considered an affordable and tasty snack or meal option. In school settings, where
students typically have limited budgets, siomai provides a satisfying and filling choice at a reasonable
price. Siomai is easy to eat on the go, making it a convenient option for busy students between classes or
during break times. It doesn’t require utensils or a dedicated eating area, making it a popular grab-and-
go food.

Students and teachers often look for quick and convenient food options, especially during lunch breaks
or in-between classes. Siomai is a popular choice because it is affordable, portable, and can be eaten on
the go. It provides a satisfying and flavorful snack or meal option that can be enjoyed without requiring
much time or effort. Furthermore, siomai is generally liked by a wide range of people due to its tasty
flavors and versatility. It can be served with soy sauce, chili garlic sauce, or other condiments, allowing
individuals to customize their siomai according to their preferences. This flexibility appeals to students
and teachers who may have different taste preferences or dietary restrictions.

Overall, the convenience, affordability, and delicious taste make siomai a popular choice among students
and teachers as a quick and satisfying snack or meal choice .

Value proposition : Everywhere you go, Siomai will always be on the go!, Your siomai is ready, let’s eat
and be happy!

Siomai's excellent flavor, ease of use, affordability, adaptability, cultural experience, and potential health
advantages make it a great value proposition overall. All of these elements work to make it a desirable
alternative for consumers looking for a tasty and convenient eating option.
V. Market Demand and Supply, Industry Dynamics, and Macro Environmental Factors

 In a small siomai business in a school, there may be several competing enterprises, other siomai
vendors, cafeteria or canteen, stalls and could be an online food delivery platforms. Depending
on the specific strategies each competitive firm chooses to employ, comparative advantages and
disadvantages will change. Each company needs to assess its target market, available resources,
and competitive environment in order to choose the best approach for standing out from the
crowd and gaining a competitive advantage.

 Suppliers in the siomai industry typically include companies or individuals involved in the
production and distribution of ingredients and packaging materials required for making siomai.
In the siomai industry, potential suppliers may include: Meat and Seafood Suppliers, Vegetable
Suppliers, Wrapper and Packaging Suppliers, Sauce and Seasoning Suppliers. The capabilities and
bargaining power of these suppliers can vary based on several factors, their scale and capacity,
quality and reliability, supplier diversity and market competition.

 The siomai industry typically uses multiple channels of distribution to reach its customers. Food
Stalls and Kiosk, siomai vendors often operate food stalls or kiosks in various locations. These
physical outlets provide direct access to customers and allow for face-to-face interaction,
enabling them to sample the products and make immediate purchases. Online Platforms this
channel with the rise of e-commerce and food delivery services, many siomai businesses have
embraced online platforms. They set up their own websites, partner with food delivery
aggregators, or utilize online marketplaces to showcase their products and enable customers to
place orders for delivery or pickup. This channel offers convenience and accessibility.
Effectiveness of these channels may vary depending on several factors such as target market,
location, competition, and marketing efforts.
SPEET - SOCIAL, POLITICAL, ECONOMIC, ECOLOGICAL AND TECHNOLOGICAL- MARKET affected by the
macro environment.

SOCIAL

ENVIRONMENT

ECONOMIC
POLITICAL
ENVIRONMENT ENVIRONMENT
Macro
Environmental
Factors

ECOLOGICAL TECHNOLOGICAL
ENVIRONMENT ENVIRONMENT
 Siomai, being a popular food item in many Asian countries, operates within a Social environment
that is influenced by various macro environmental factors. Siomai, being a popular food item in
many Asian countries, operates within a social environment that is influenced by various macro
environmental factors. Economic Factors, Demographic Factors, Cultural and Social Factors,
Technological Factors, Environmental Factors, Legal and Regulatory Factors

 The macro environment can indeed have an impact on the Political environment and
subsequently affect the market for siomai or any other product. Here are a few ways in which
the macro environment can influence the political environment and impact the siomai market:
Government regulations, Trade policies, Economic stability, Political stability, Consumer
sentiment.

 Siomai, a popular food item in many Asian countries, can be affected by various macroeconomic
factors in its Economic environment such as Inflation, exchange rates, disposable income,
consumer confidence, government regulations, demographic factors, competitive landscape.

 The market for Siomai or any other product in the Ecological environment might be impacted by
the macro environment. The external elements that have a larger-scale impact on markets and
sectors are referred to as the macro environment. The following are some significant variables
that may have an impact on Siomai’s ecological environment market: Economic Factors,
Regulatory Environment, Social Trends and Consumer Preferences, Technological Advancements,
Competitive Landscape.

 The Technological environment of the siomai market refers to the influence of technology on the
production, distribution, and consumption of siomai products. The macro environment, on the
other hand, consists of external factors that can impact the overall business environment which
includes the Economic Factors, Socio-Cultural Factors, Political and Legal Factors, Environmental
Factors, Technological Factors. In summary, the macro environment can affect the technological
environment of the siomai market through economic conditions, socio-cultural shifts, political
and legal factors, environmental concerns, and advancements in technology.
VI. THE PRODUCT AND SERVICE OFFERINGS

PRODUCT DESCRIPTION

You won't regret making an investment with us since our business, The Greataste Siomai, plans to
provide a special and mouthwatering product. The fact is, we want you to understand how and why we
can claim that our product is both distinctive and tasty. That is the handcrafted product we are selling,
designed with siomai supporters in mind. Everyone can eat and enjoy our "The Greataste Siomai" since
we just provide one flavor, which is chicken and is halal. Our siomai currently includes the following 2
ways of cooked siomai:

 Steamed chicken siomai

 Fried chicken siomai

Our services include customer support and improved Search Engine Optimization for better online
transactions.

Evolution Strategy

We'll build a corporate website with interesting multimedia information about our goods in
order to grow our business. Our business will first focus on the region around Dapitan City. We may
expand our product line, create additional locations, or engage in customer acquisition to expand our
business offerings. We will run advertising in publications targeted at the sectors we want to reach as
the business grows.

We have more:

 As the business grows, we'll run ads in publications that serve the needs of the
industries we're targeting.
 Increasing customer awareness of our goods through direct marketing in a current
industry.
 The firm will launch in Dapitan City with business owners, employees, and
consumers as its major target markets before progressively expanding to other
areas after it has attracted a solid client base.
  The company is open for retail outlets to expand brand-awareness and
sustainability.
Pricing Justification

We created our meals with love for our clients to enjoy without having to worry about the cost
since we recognized their needs as siomai lovers in our business. Our product has a very rich flavor while
being reasonably priced.

The Greataste Siomai company will offer the following prices for its product:

 Steamed chicken siomai 4 pieces for P20

 Fried chicken siomai 4 pieces for P20

Vll. Enterprise Strategy and Enterprise Delivery System

Enterprise Strategy

Greataste Siomai enterprise strategy in school can be structured by considering various aspects of the
business.

 Conduct in-depth market research to determine the demand for siomai among the faculty and
students at our school. Determine prospective rivals, price fads, and client preferences. Obtain
information by doing surveys, interviews, or online research.
 Find the business’s unique selling proposition (USP), which distinguishes us from rivals, for our
siomai business. A specific recipe, distinctive flavors, reasonable prices, or extra services like
delivery or catering for school activities could all be contributing factors.
 Develop a menu that appeals to the target demographic by including a variety of siomai flavors
and complimentary side dishes. To appeal to a wider client base, take into account dietary
constraints, such as providing vegetarian or gluten-free products.
  Establish reasonable rates based on the cost of the components, the amount of time required
for preparation, the overhead costs, and the desired profit margin. As long as you still have room
for profit, we make sure our pricing are fair and affordable for students.
 To foster loyalty and good word-of-mouth, concentrate on offering outstanding customer
service. Our employees were meant to be approachable, alert, and customer-focused. Consider
consumer suggestions as we work to further improve our offerings.
 Financial management: To make sure that our siomai business is financially sustainable, we keep
track of our costs, receipts, and profits. Maintaining accurate records, keeping an eye on our
cash flow, and frequently assess our business profitability.

Any business' success depends on its ability to adapt and improve continuously. To preserve a
competitive edge, we regularly evaluate our approach, make any required improvements, and keep up
with market trends and customer preferences.

Delivery System

Depending on the school's resources, rules, and laws, the specifics and logistics of the siomai enterprise
delivery system may change. To satisfy our school's particular needs, it is essential to modify and
customize the system. The key to our future is concentrating on certain target markets. Our message
needs to be developed, shared, and improved upon.
Vlll. Financial Forecasts : Expected Returns, Risks, and Contingencies

Greataste Siomai

Monthly Income Statement

Gross Sales P 2,946. 00

Less : Cost of Goods Sold 474

Gross Profit 2,472

Less Operating Expenses 82

Operating Profit 800

Net Profit P 2,146. 00

When it comes to financial forecasts for a siomai business, several factors need to be considered,
including expected returns, risks, and contingencies. Financial forecasts are based on assumptions
and estimates, and actual results may vary.
XI. Environmental and Regulatory Compliance

GREATASTE SIOMAI

BALANCE SHEET

ASSETS LIABILITIES

Current Assets Current Liabilities

Cash P 2,428. 00 Accounts Payable 0

Accounts Receivable 0 Income Taxes Payable 0

INVENTORY P 474. 00 Wages Payable 0

Short Term Debt 0

FIXED ASSETS LONG TERM LIABILITIES

Table Furniture P 1,800.00 LONG TERM DEBT 0

Gas Tank P 1,300.00 Stockholder's Equity

Kitchenware P 950 .00 Capital P 800. 00

Retained Earnings* P 2,146. 00

TOTAL ASSETS P 6,952.00 TOTAL LIABILITIES AND EQUITY P 2,946.00

This is the overview of a company’s financial situation at a certain point in time. It displays the business’s
assets, liabilities, and owner equity. In the balance sheet it shows that the business doesn’t have any
current liabilities and long term liabilities, since the small siomai business is just a temporary project or
task.

X. THE CAPITAL STRUCTURE AND FINANCIAL OFFERING: RETURNS AND BENEFITS TO INVESTORS,
FINANCIERS AND BUSINESS PARTNERS

Benefits to Investors

· Investment diversification across securities and by issuer.

· Outsourcing of credit analysis to a professional cash management team
· Competitive money market returns.

Benefits to Business Partners

· Two heads (or more) are better than one.

· Business is easy to establish and start-up costs are low.
· More capital is available for the business.
· Partners’ business affairs are private.
· There is limited external regulation.
· If conditions change, it is simple to alter the legal framework.

Brainstorming

When it comes to creative brainstorming, two heads are really preferable than one. According to web
developer and business owner Bruce Marler, this is especially true for startups. Marler asserts that
having a second set of eyes to review your ideas and expand upon them is helpful in all areas, including
marketing, product price, and growth strategies. Having a business partner gives you an honest source of
feedback and a virtual sounding board for ideas. The sharing of ideas and opinions enables business
owners to improve upon previously successful concepts or supplant flawed ones.
Benefits to Financiers

1. Business Expansion. With additional capital infusion from financiers, siomai businesses can
explore opportunities for expansion.
2. Expertise and Experience. Many financiers have extensive experience in the business world and
possess valuable industry expertise.
3. Network and Connections. Financiers often have a broad network of contacts in various
industries and sectors.
4. Risk Sharing. When financiers invest in our siomai business, they share the financial risks
associated with the venture.
5. Business Credibility. Associating with reputable financiers can enhance the credibility and
reputation of our siomai business.
6. Capital Invesment. One of the primary benefits of financiers is their ability to provide capital
invesmet.
7. Financial Management. Financiers often require regular financial reporting and monitoring of
business performance.