Conducted by BatStateU
, Started on 2017 -
Completed on 2017
Completed
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IEscape“Spa on the GO” is a small-scaled business according to Republic Act No. 6977, as amended by Republic Act No. 8289. This is owned by the proponents who contribute resources into the entity. It is a local business venture in Batangas City that will sustain the needs of Batangueñosfor a comprehensive body care. It is the first and only spa business in the province that is housed in a mobilebody massage. IEscape “Spa on the GO” brings all the services of traditional spa treatments right from massage any time and at any place. It enables people to get the health and satisfaction in the comfort of their own personal setting without thinking of traffic and modes of transportation. IEscape “Spa on the GO” will strategically cover and serve Batangas City, the capital of Batangas Province. The business will operate seven (7) days a week. The proponents foresee the viability of IEscape “Spa on the GO” into the market technically, economically and financially. The project considered all the necessary aspects such as market feasibility, technical feasibility, financial feasibility, socio-economic feasibility and organization and management feasibility. In the market feasibility, the proponents determined that there is an increasing demand for the next ten (10) years. And with the proponent’s survey in Batangas City, it is determined that 87.75 % of the citizens are willing to avail the mobile spa services. In the technical feasibility, IEscape “Spa on the GO” is a mobile spaservice that travels to various locations to perform services inside the vehicle which is similar to a mobile home. Mobile Spa brings the day spa experience to your bachelorette party, bridal party, corporate event, employee appreciation and wellness spa parties within the comfort of your own home, office or hotel. It offers services to every Batangueños client that needs relaxation, stress reliever and health purposes. The business offers services similar to those offered by a storefront such as Traditional Hilot, Ventusa massage, Swedish massage and other types of massage style services. The spa service vehicle is outfitted with power supply and amenities so it can look exactly like a traditional spa inside. This allows the vehicle to be a self-contained spa from which individuals can offer spa services. IEscape “Spa on the GO”is composed of two (2) massage bed and one (1) station for massage chair. The total investment cost will be Php2,707,837.19. The fixed cost is Php2,371,980.00. The total additional investment cost will be financed by the members of IEscape “Spa on the GO”and from Bank of the Philippines Island (BPI) loan. In the financial feasibility, the current is 5.55 to 15.38 which has an increasing value of ratio that shows that the business has the ability of meeting its short term liabilities. The debt ratio is 2.14 to .07 which It shows that it has a higher tendency to pay the current obligations. Net profit ratio is 31.77% to 50.85%. It has an increasing value which means that there is a high potential to gain profit. As the percentage of net income increases, the more effective the business is converting the revenue into profit.The payback period computed through the accumulated and simple method is 2 years which is a good indicator that the business can recover the cost of investment for a short period of time. With regards to the return of assets, it has the percentage of 17.59% to 14.31% it is decreasing which means that the business is not competitive against other rivals in this period. As the return on assets decreases, the business is earning less money because the assets are not fully utilized. But still it is in acceptable range.Net Present Value has the value of 4,332,772.57. The business is acceptable because it gives the positive value of net present value. This positive value also projects that the business will be profitable beyond the expected rate of return.. Lastly, Return of Equity has a percentage of 55.27% to 15.24%. Low percentage in the return on equity means that there is a high capital invested. It means that business is capital-concentrated with low return on equity as a limited competition. In socio-economic feasibility,IEscape “Spa on the GO” brings all the benefits of massage therapy right to the customers. Whether theyare at home or at the office, they can simply call IEscape “Spa on the GO” without even getting out of their chair, and before they know it they will be getting the stress relief they need, and their sore muscles and aching head will be a memory. Now you can get on with your daily responsibilities with energy, clarity, and be more productive than you thought possible.IEscape “Spa on the GO” provides an excellent service for its customers. It can help Batangas City through paying its Business Permits. The project also considered the revenue that the government could get from the business taxes. Three (3) registered massage therapist and One (1) driver will be employed in this project. It will increase the employment rate of the community thus improving their standard of living. Through detailed-study and with all the said criteria, it is foreseen that the project is feasible. This can be pursued and can meet their goal of gaining profit.