Pasay City West High School

Pasay City West High School
SENIOR HIGH SCHOOL DEPARTMENT
#2826 Taft Avenue, Pasay City, Metro Manila
09058821761
https://www.facebook.com/EverydaywearMNL
Entrepreneurship
HUMSS 12-1
Presented by
Aganan, Daniel V.
Torzar, Jenny Rose
Valerio, Ma. Franchesca
Subject Teacher: Mr. Anthony John Miles Garcia
Date submitted
October 7, 2019
1
EXECUTIVE SUMMARY
EVERYDAYWEAR.MNL is an eyewear retail store that is located at 2826 Taft
Avenue, Pasay City. We adhere to customer’s preference in accordance to their liking. The
shop will have its minimalistic display for an exquisite view on every collection on our
eyewear products. We offer high quality eyeglasses and sunglasses that are affordable and fit
on the customer’s character and style. Our products are for all gender types of all ages; we
aim to attract everyone that will influence their desire to buy our products. Our shop’s
products will bring the inner style within you.
In our shop we provide various designer eyewear that cost at reasonable price,
customer will have the freedom or privilege to choose their own liking style on products. We
want our customer to feel convenience that’s why we also offer eyewear products through
social media where they can view and select their preferred style and designs of our eyewear
collection.
As of now, EVERYDAYWEAR.MNL continuously promotes products not only
through online but also by using flyers and posters. We aim to use this kind of strategy to
gather and attract more customers and to communicate with customers by this there is a huge
possibility that sales may be increased. Our projected net income for the first year will be ₱1
248 512. The firm objective is to include growth, responses to environmental changes and to
keep in mind that everyone should learn how to protect and/or take care of their eyes. As a
new retail store being known, we are striving and focusing the perception of other people
towards the use and advantage of eyewear products for style and for our everyday living.
DESCRIPTION OF THE BUSINESS
2
EVERYDAYWEAR.MNL is a retail business eyewear to customers throughout
Manila. This business is part of eyewear industry that provides eyeglass and sunglasses to
people, especially young adult who are stylish. We provide high quality stylish eyewear for
customer who wants stylish frame for their prescribed lenses and for those who wish to
enhance their appearance with glasses but do not need prescribed lenses. Our products are
design affordably in our own variety of styles and colors of frames to compliment the
customer’s style and preference. Aside from the frames, we also offer different sunglasses for
protective eyewear to prevent bright sunlight from damaging the eyes.
Eyewear industry in the Philippines is continuing dominated by spectacles in 2019, or
more specifically spectacle frames. Eyewear is predicted to continue to record stable demand
over the forecast period, supported by the on-going trend for fashionable spectacles, but
driven by the stronger performance of sunglasses as an essential accessory.
DESCRIPTION OF THE PRODUCT/SERVICE
We offer designer wear sunglasses and frames for everyone on your own kind of
style. We provide different collection on of products of high quality on affordable price that
3
are not only equal to but also go beyond high price brands. Our non-prescribed lens are all
replaceable lenses and multi-coated equipped with anti-radiation, anti-fatigue and blue light
protection. Our sunglasses have several shapes available, including the popular aviator,
wayfarer, cat eye and wrap around styles included on different collections with 100% UV
protection but vary depending on lens. Our products are equipped with 1-year limited
warranty service. All products returned for exchange will be accepted as long as it is within
one month from the date of purchase and product is in good condition.
For online orders, a form will be filled out for better and organized sets of orders.
Orders purchased online will be shipped out one day after payment date. The specs or frames
which are non-prescribed lenses can be used for people who want to protect their eyes from
everyday radiation. The sunglasses are equipped with 100% UV protection with polarized
and anti-reflective lenses to reduce glare.
Every product purchased includes a protective storage case and a microfiber cloth for
cleaning. The quality of the materials used are strong and high quality. We give additional
discount for senior citizens; we provide rewards also to the customer for them to be able to
buy eyeglasses. We also have online shop so that people far from the vicinity can buy our
product. With the help of other institution our business can build and promote directly to the
customer. The goal of our business is to gain more profit, and to be the best eyewear
company among our competitors.
Advanced technology and modernized computers that will help customer to select,
find their preferred style, color, types and design of eyeglass and lenses. We’ve decided to
locate our business at Taft Avenue where foot traffic occurs and nearly to our specific target
market. It is a great opportunity for us to locate it because we know that many customers are
gained here.
4
Our products are high quality and affordable. The fixed price doesn’t vary depending
on the style, types and design of eyewear product. In purchasing our products, you can go
directly to our shop or by social media account, by this it can be a great start on introducing
our brand to different people.
MARKETING STRATEGIES
DEFINITION OF THE MARKET
Modern day changing lifestyles entails individuals to purchase sunglasses, lenses, and
frames according to the on-going trends. In eye wear industry we’re technologically
developing at a faster pace. From evolution of eyeglasses to soft contact lenses technology is
5
being developed in order to meet the unmet demands of consumers. In this\ journey of
development, the important objective of manufacturers is to search and develop the
technology or product that will satisfy the needs and wants of customers throughout their
lives. These technological advancements in eye care industry are driving the global eyewear
market.
We offer high quality and demand sunglasses, lenses and frames to every individual.
The specific target market of our eye wear products are the young adult; with all gender types
and different income classes with unique behaviour preferences in purchasing eye wear.
Because of different eye conditions and diseases people are experienced cause of gradually
develop as they age, such as increased light sensitivity and cataracts. Target markets are
focused towards young adults and the eyewear business provide different eyeglasses that are
customized and really suits for them. They can purchase this product even if they don’t
directly go to the shop, they can still buy eyeglasses at their convenience. In the developing
of nations, improving lifestyles, urbanization and availability of advanced eyewear products
are positively impacting the market growth. In order to uplift their social status, consumers
prefer to purchase high-end eyewear products. In addition, improving purchasing power of
consumers in the emerging markets has enabled them to but premium a product which is
further elevating the growth of the global eyewear market.
DETERMINATION OF THE MARKET SHARE
SALES
SUNNIES
70, 000
SPECS
6
METRO 80, 000

SUNNIES
EVERYDAY 90, 000

WEAR.MNL
The Market for Product X 240, 000 UNITS
Number of prospects in the target market 1, 200
Frequency of purchase per year (average) 24 times
Total number of purchases per year 36, 000
Average payment per purchase ₱ 500
Projected total industry sales per year ₱18, 000, 000
Percentage the firm can attain 10%
THE FIRM’S MARKET SHARE ₱ 1, 800, 000
POSITIONING STRATEGY
IT’S YOUR STYLE, IT’S YOUR CHOICE. We aim to attract every young adult and
young at heart of all gender types, with our product and services that will influence their
desire to buy being our products are affordable and fit on the market’s own character and
style.
The shop will have its minimalistic display for an aesthetic view on every collection
on our eyewear and sunglasses. We also allow our customers to fit their preferred styles on
their eyewear for them to decide which is better. What separates us from our competitors is
that we are different from any other company in terms of (1) Style: We have a unique style
7
that is unlike any other designer eyewear brands. Each frame has strong hinges that holds the
frames to arms of the glasses. The color of the frame varies depending on the collection. We
also offer single vision lenses to multi-coated lenses that have several polarized, scratch-
proof layers that are made up of at several layers to give each eyewear a unique style and
color. We offer several different styles that are vary depending on spring, summer, autumn
and winter collection. (2) Affordable: We have exceptional eyewear product that is no longer
just for the wealthy. The company strives to keep our eyewear products at least half of the
price that high brand eyewear are selling.(3) Charitable: In order to make a difference around
the country, for every pair of eyewear that are sold, 10% from the original price will be
donated to the Mother Earth Foundation Philippines. The customers are making a difference
while wearing stylish eyewear. The business wants the target market to feel comfortable on
their preferred style. A discount coupon of 20% will be given to the customer for every pair
on sunglasses and eyeglasses are bought. The business will be expressed and positioned as a
gender-friendly, environmental concerned and promotes self- expression through own style in
an affordable price with high quality.
PRICING STRATEGY
Our strategy is to keep it simple both in product and pricing by offering a reasonable
enough range of frames to appeal to customer and a one-size it’s all point. Our product also
gives discount on senior citizens. The fixed priced on our product may be the reason for a low
budget but high quality product.
The firm prices are established through mark-up pricing. Our business is a form of cost-
oriented pricing in which the firm sets prices by adding per-unit merchandise costs, operating
and designed profit, if our customer wants to come over again to change their frames etc.
Therefore, mark up pricing is also our pricing strategy where the price of our product and
8
services is calculated by adding together the cost of our product and a percentage of it as a
mark-up.
The profit objective of the firm is our business include the growth, responses to
environmental changes or societal responsibility that our business will grow and success in
the future to become more known in the industry it can also include the financial goals
because if our business will grow in size our objective may change from just earning profit to
increasing market size and making great sales of its units product, second demands of the
customers that they may adopt a strategy of product differentiation, where our business
competes by giving customers a unique or superior product.
DISTRIBUTION STRATEGY
Brokers Channel
Distributor/Seller
We will look for a trusted supplier which we can get a discount to it and
their materials are good and high quality.
Brokers
Since we already found a supplier of our good our priority is to sell it to our
customer who they will like it because of the design and the good quality of it.
9
Retailers/Users
And now our target customers are the young-adults, young at heart and all-
gender types since everyone wants to look fashionable.
PROMOTION STRATEGY
Our business will be promoted through advertising, sales promotion, and personal
sales.
ADVERTISING
We will use flyers to promote our own product. Signboards will also be posted on
places wherein foot traffic occur the most to attract nearby customers. As the great
technological advancement has raised our standard living and there is a huge growth on the
use of social media, we aim to use it, to gather and attract more customers and to
communicate with interested customers. With this strategy, there is a huge potential that sales
may increase.
SALES PROMOTION
We will attract people to buy the product by giving a discount coupon of 20% to the
customer for every pair of sunglasses and eyeglasses bought; and every pair of eyewear that
are sold, 10% from the original price will be donated to an organization.
10
PERSONAL SALES
A sales person will promote and sell the products or the physical store. A social media
personnel will be promoting and tracking online transactions. The employees will be
informed thoroughly about the description of the product, its warranty, the policies, on the
customers, and its promos.
ANALYSIS OF THE COMPETITION
Strengths and Weaknesses of Competitors
SWOT Analysis for Metrosunnies
STRENGTHS WEAKNESSES
 Location of Metrosunnies  Selling sunglasses in limited
eyewear is located in Manila that flexibility in pricing.
has own store that provides more  Metrosunnies is more on
their needs. repairing and buying glasses but
 The variety of style they offer to doesn’t equate on an optical
people such as the design of shop.
glasses and style appeals to  Having gaps on doing their job.
variety of ages.
 Willing to educate them on the
best type of UV Protection to
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offer free basic repair services.
 Metrosunnies promotes their
product by social media
influencers.
OPPORTUNITIES
 Increased presence in area with a

THREATS
lot of people buying in a greater
inventory.  The suppliers are not necessary
 Having online store that they can able to supply raw materials
give option on what they want to what we need at the prices we
choose in different designs. need.
 Customize sunglasses with logos  Competition sells similar prices
and images that don’t get in the and has loyal customers as well
way of the person’s vision. as relationship with business that
 Stand out and offer earlier regularly` buy from them.
cheapest or better than the
competition.
12
SWOT Analysis for Sunnies Specs
 Has greater liquidity in  Sunnies studios might have a
expanding really fast since it hard time venturing into other
does need that much capital industries if necessary.
investment in putting up new  It still has limited amount of
branches. resources.
 New Sunnies Specs Optical pair  Sunnies have limited human
is under warranty for a warranty resources capability which slows
for a certain amount of time after down the ability of the company
the date of purchase. to expand very fast.
 Offers discount packages.  Sunnies’ brand recognition is
 In just a small amount of time, still not very strong as compared
Sunnies has successfully made to other brands.
their brand known nationwide.
 Has now expanded to include
Men’s eyewear in their line-up.
OPPORTUNITIES THREATS
13
 Continued International
investments and emerging
markets in Asia.  The Accessories markets are
 Collaborations with celebrities or heavily dependent on trends of
other local designers are the season.
opportunity for Sunnies to  With product sourcing of almost,
penetrate the market even more. if not all, Sunnies studio items
 Utilize Social Media and digital are from China. It runs the risks
platforms. of having the same styles being
 Partnership with other brands of acquired and also sold by other
the same or common goods and brands.
services.  Growing number of online and
 Sunnies can capitalize on small-scale independent stores
locations that are sunny, such as may collectively eat up the
beach resorts and hotels these market share of Sunnies Studios.
will be very convenient for
travellers and tourist.
14
SWOT Analysis for EVERYDAYWEAR.MNL EYE WEAR
 Our business is located nearly  Our business has a little market
at hospital, health center and presence and reputation as the best
eye clinic. provider of eyewear products.
 Providing numerous styles and  Lack of experience of other
designs option for eyeglasses employees and staff in doing their
and frames. assigned job.
 Staffs with advanced skills and
knowledge.
 Promoting products through
advertisement, personal sales,
poster, brochures and etc.
 Has a charitable incentive.
OPPORTUNITIES THREATS
 Chance for brand extension and  In hard economic times, people
expansion. buy less designer products.
 Some stores don’t provide  Other shops or stores sell eye
training for their staffs and wear products cheaper than
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employees but as systems

EVERYDAYWEAR.MNL
become more complex, training
 Environmental effects would
is in greater demand.
favour larger competitions.
 Partnerships with other
 Growing rate of online and small
companies and brands of the
scale independent stores may eat-
same goods and service.
up the market share of
 Creates high profit for the both
EVERYDAYWEAR.MNL
company/business.
16
OPERATIONS & MANAGEMENT
Organizational Structure
SALES & MARKETING MANAGER
CUSTOMER’S SERVICE EXECUTIVE
CASHIER CASHIER
Sales/Marketing Manager
Requirements
 A graduate of a Bachelor’s Degree in Marketing or Business Administration
 Has a working experience
 Proficiency with computers and MS Office
 Willing to work under time pressure.
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Roles/Responsibilities
 Identifies, prioritizes and reaches out business opportunities
 Responsible for supervising promotions, customer’s needs and communication with
clients.
 Develops, execute and evaluate new plans.
Customer’s Service Executive
Requirements
 Must be a graduate of any college degree
 Has good communication skills
 Has a pleasing personality
 Proficient with computers and MS Office
Roles and Responsibilities
 Ensures that all contacts with clients (e-mails, walk-ins, SMS/phone) provide the
client with a personalized customer service experience of the highest level.
 Consistently stays abreast of any new information on the business products,
promotional campaigns, to ensure accurate & helpful information is supplied to
customers when making inquiries.
 Receives visitors/clients
 Receives parcels/discounts
 Handles inquiries via e-mail, phone, and walk-ins
18
Cashier/s
Requirements
 Must be at college level or SHS graduate
 Has at least a year of working experience
 Proficiency with computers, MS Office and POS System
 Good communication skills
 Has a pleasing personality
 Willing to work during holidays
Roles/Responsibilities
 Receives payment by cash, credit cards, vouchers
 Issues receipts, refunds, credits or change due to customers
 Serves as an auditor for the business
19
OPERATING EXPENSES
If the business will be established, here are the following expenses:
Rent ₱8,000
Advertising and Sales Promotion ₱1 500
Brochures
Posters
Tarpaulins
Supplies ₱160 000
Sunglasses (400 pcs)
Frames (400 pcs)
Utilities ₱3 999
Electricity
Telephone and Internet Services
Payroll ₱31 200
Sales and Marketing Manager ₱300/a day
Customer’s Service Executive ₱300/a day
20
Cashier 1; Cashier 2 ₱300/a day
Insurance ₱1 000
CAPITAL REQUIREMENTS
Computers ₱15 000
Furniture ₱15 000
Mirrors ₱ 3 000
Uniform for Employees ₱5 000
Others
Advertising ₱1 500
Total ₱69 500
COST OF GOODS SOLD
Beginning Inventory ₱160 000 (800 PCS)
Add: Purchases ₱480 000 (2400 pcs/yr)
21
Goods available for sale ₱640 000 (3 200)
Less: Ending inventory ₱80 000 (400 pcs)
Cost of Goods Sold ₱560 000
FINANCIAL DATA
EVERYDAYWEAR.MNL
Comprehensive Income Statement
22
For the year 2020
Gross Sales ₱1 800 000
Less: Sales Returns ₱10 000
Net Sales ₱1 790
000
Cost of Goods Sold
Beginning Inventory ₱160 000
Add: Purchases ₱480 000
Goods available for Sale ₱640 000
Less: Ending Inventory ₱80 000
Cost of Goods Sold ₱560 000
Gross Profit ₱1 230 000
General and Administrative Expenses
Rent ₱96 000
Wages ₱374 000
Advertising and Sales ₱1 500
Utilities ₱47 988
Insurance ₱12 000
Total General and Administrative Expenses ₱531 488
23
Total Expenses ₱531 488
Net Income ₱1 248 512
SUPPORTING DOCUMENTS
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Pasay City West High School

SENIOR HIGH SCHOOL DEPARTMENT

#2826 Taft Avenue, Pasay City, Metro Manila

Torzar, Jenny Rose

Valerio, Ma. Franchesca

Subject Teacher: Mr. Anthony John Miles Garcia

EVERYDAYWEAR.MNL is an eyewear retail store that is located at 2826 Taft

products will bring the inner style within you.

As of now, EVERYDAYWEAR.MNL continuously promotes products not only

DESCRIPTION OF THE BUSINESS

EVERYDAYWEAR.MNL is a retail business eyewear to customers throughout

protective eyewear to prevent bright sunlight from damaging the eyes.

Eyewear industry in the Philippines is continuing dominated by spectacles in 2019, or

driven by the stronger performance of sunglasses as an essential accessory.

DESCRIPTION OF THE PRODUCT/SERVICE

and anti-reflective lenses to reduce glare.

company among our competitors.

our brand to different people.

DEFINITION OF THE MARKET

development, the important objective of manufacturers is to search and develop the

of nations, improving lifestyles, urbanization and availability of advanced eyewear products

prefer to purchase high-end eyewear products. In addition, improving purchasing power of

further elevating the growth of the global eyewear market.

DETERMINATION OF THE MARKET SHARE

METRO 80, 000

EVERYDAY 90, 000

The Market for Product X 240, 000 UNITS

Number of prospects in the target market 1, 200

Frequency of purchase per year (average) 24 times

Total number of purchases per year 36, 000

Average payment per purchase ₱ 500

Projected total industry sales per year ₱18, 000, 000

Percentage the firm can attain 10%

THE FIRM’S MARKET SHARE ₱ 1, 800, 000

an affordable price with high quality.

budget but high quality product.

competes by giving customers a unique or superior product.

their materials are good and high quality.

gender types since everyone wants to look fashionable.

customers, and its promos.

ANALYSIS OF THE COMPETITION

Strengths and Weaknesses of Competitors

SWOT Analysis for Metrosunnies

 Location of Metrosunnies  Selling sunglasses in limited

eyewear is located in Manila that flexibility in pricing.

has own store that provides more  Metrosunnies is more on

their needs. repairing and buying glasses but

 The variety of style they offer to doesn’t equate on an optical

people such as the design of shop.

glasses and style appeals to  Having gaps on doing their job.

 Willing to educate them on the

best type of UV Protection to

offer free basic repair services.

 Metrosunnies promotes their

product by social media

 Increased presence in area with a

inventory.  The suppliers are not necessary

give option on what they want to what we need at the prices we

choose in different designs. need.