Republic State of the Philippines

Mindanao State University

Senior High School
Fatima, General Santos City

BUSINESS PLAN
for
Bac’nRoot

In Partial Fulfillment of the Requirements

in
Entrepreneurship Subject

Prepared by:
STEM 12 - Euler
Cañete, Samantha Charisse T.
Delos Reyes, Rochelle M.
Emperua, Justin Kyle L.
Omahoy, Kevin Brian N.
Balanag, Earl Adrian D.
Sabado, Clark Ivan B.
Pelias, Demy E.

December 2023
 CHAPTER II

COMPANY BACKGROUND

INTRODUCTION

Carrot chips, a popular and healthy snack, have gained popularity in recent years

as consumers are taking a greater interest in the ingredients in the products they

consume and are looking for a health boost beyond basic nutrition, making them

increasingly seek alternatives to traditional, less healthy snack options (Global Summit

Association, 2022). These chips are typically made by thinly sliced fresh carrots, which

are then processed through various cooking methods such as baking, dehydrating, or

air-frying. Moreover, carrot chips have evolved as a diverse and delectable snack option

as the market expands, often infused with various seasonings or flavors.

The entrepreneurs' business, mainly focusing on carrot chips, was established

with a commitment to providing a healthier snack alternative using vegan ingredients.

Recognizing the market problem, traditional snack foods like fried foods and potato

chips have long dominated the market, negatively affecting the health and well-being of

consumers, causing a variety of health issues, including obesity, heart disease, and

diabetes, prompting consumers to become more health-conscious and seek healthier

snack options that match their nutritional needs and wellness goals (Spritzler, 2019). In

response to this challenge, the entrepreneurs have introduced an innovative product:

bacon-inspired flavor carrot chips. This product is air-fried, achieving a crisp texture

without the need for excessive oil, which keeps the nutritional value of the carrots while

producing a tasty and crispy snack that caters to health-conscious consumers looking

for guilt-free indulgences. Thus, this product intends to provide a delightful and healthy
alternative to traditional snacks by including carrot nutritional benefits such as vitamin A,

fiber, antioxidants, and other phytochemicals (Rachel, 2021).

With this in mind, the entrepreneurs have opted for a bacon-inspired flavor of

carrot chips called Bac'nRoot as a convenient and healthier snack option. It aims to give

consumers the satisfaction they seek from a snack while being healthy due to its lower

salt and calorie content — all while delivering a crispy, smoky, and savory flavor.

BUSINESS DESCRIPTION

Bac'nRoot aspires to be one of the pioneers in the snack industry, producing

vegan bacon-inspired flavor carrot chips that are committed to combining healthiness

with savory pleasure. The business aims to redefine snacking by giving an affordable,

sustainable, and versatile product while also benefiting the agricultural industry by using

fresh carrots. The nature of the business is hybrid, integrating manufacturing innovation

with a strong customer service attitude, in which entrepreneurs actively participate in

product development while prioritizing customer satisfaction. This business runs as a

sole proprietorship, emphasizing simplicity and direct control while allowing for

independent decision-making and streamlined formation.

This entrepreneurial approach serves as a strategic framework for Bac'nRoot's

long-term goals, which are centered on health and inclusivity. Focused on health, the

company sells its carrot chips as a nutritional alternative to usual snacks, appealing to

consumers seeking both flavor and wellness. Furthermore, Bac'nRoot promotes

inclusivity by openly offering a plant-based, pork-free product that caters to vegetarians

and those with a variety of dietary requirements, hence expanding its consumer base.
 In summary, Bac’nRoot's mission extends beyond producing an enjoyable snack;

it aspires to redefine the snack landscape by embracing health consciousness and

inclusiveness. Bac'nRoot emerges as a unique business eager to have a lasting mark

on the snacking sector, with a business dedication to purpose and innovation.

MISSION AND VISION, OBJECTIVES

Mission: Bac’nRoot intends to transform snacking by making the healthiest and most

delicious carrot chips on the market, promoting healthier lifestyles and sustainability

through creative approaches to guilt-free, nutritious, and tasty snack foods, all while

providing quality service to our customers and respecting the environment.

Vision: Bac’nRoot envisions being the first local company to provide health-conscious

and sustainable carrot chips while redefining snacking as a symbol of wellness,

innovation, and responsible agriculture to contribute to a healthier planet.

Objectives: Bac’nRoot aims to establish a successful venture in the production and

marketing of bacon-inspired flavor carrot chips, specifically ensuring consistency and

tastiness of the product by sourcing fresh and quality ingredients, developing a strong

brand identity by emphasizing its unique qualities, reaching out to consumers that are

health-conscious and have diverse dietary preferences by implementing targeted

marketing campaigns (physical and online), prioritizing customer satisfaction by

providing efficient and personalized service, and differentiating the business from

competitors by highlighting unique selling propositions.

CORE VALUES

P - PROFESSIONALISM. Projecting high standards of behavior and attitude

R - RESPECT. Valuing and treating everyone with respect

I - INTEGRITY. Maintaining honesty and reflecting actions with principles

D - DEDICATION. Expressing commitment and a strong sense of responsibility

E - EXCELLENCE. Striving to achieve excellence and exceptional results in the market

industry

“Upholding Professionalism with Respect and Integrity, fueled with Dedication

in committing Excellence.”
 CHAPTER III

MARKET ANALYSIS

INDUSTRY

Carrot chips are a subset of the vegetable chips sector that operates in the

production of chips with fresh carrots as the main ingredient. This product is rooted in

the growing awareness of health and wellness, as they provide a satisfyingly crunchy

snack while preserving the nutritional benefits of carrots which are frequently sought

after by consumers who are in the pursuit of healthier snack options. Moreover,

according to Choudhury (2023), veggie chips have grown in popularity in recent years

since they are more flavorful and nutritious than fried chips. Plant-based foods and

healthy snack options are expected to gain popularity, accelerating market growth over

the projected period. Furthermore, the vegetable chips market is expected to reach

$12.5 billion in 2023 and $22.8 billion by 2033. The market is predicted to increase at a

Compound Annual Growth Rate (CAGR) of 6.2% over the forecast period.

Vegetable chips have recently gained popularity in the Philippines, where several

small businesses have begun this type of business. There are already a variety of

vegetable chips that are available in the market including mixed veggies, kale,

cauliflowers, mushrooms, okra, malunggay, kalabasa, etc. (Ausa, 2023). With the

current trend of increased interest in this industry, entrepreneurs are opting for new

possibilities such as carrot chips.

Moreover, Ausa (2023) mentioned the best-sellers of E-commerce sites. With the

growth of these e-commerce and social media platforms, entrepreneurs are now offered
a means by which to sell and retail their products as well as reach and extend their

audience. Shopee, Lazada, BeautyMnl, Better Snacks, and more sites were listed.

The vegetable chips industry in the Philippines is a dynamic sector that caters to

the preferences of health-conscious consumers. Within this thriving market, there is a

growing demand for innovative and flavorful alternatives. Thus, entrepreneurs have

chosen to enter this business, specifically opening a venture focused on carrot chips

due to their potential in the market.

To further specify this venture, a SWOT analysis of Bac'nRoot chips is listed

below:

Strengths: Weaknesses:
1. Low Startup Cost 1. Limited Target Audience
2. Unique Flavor Profile 2. Limited Flavor Options
3. Health Benefits 3. Availability and Quality of
4. Dietary Compatibility Ingredients
5. Versatility 4. Sensitivity to Dietary Restrictions

Opportunities: Threats:
1. Collaborations and Partnerships 1. Competition in Snack Market
2. Health and Wellness Trends 2. Negative Perceptions
3. Niche Market 3. Economic Factors
4. Online and Social Media Marketing 4. Brand Recognition
5. Targeting Convenience Stores and
Specialty Retailers
Table 1. SWOT Analysis

I. Strengths

1. Low Startup Cost. Starting carrot chip production requires minimal capital

compared to traditional snacks.

 2. Unique Flavor Profile. The product features the sweet and savory flavor

profile of bacon in carrot chips giving it a unique and distinctive taste that

is not commonly found.

3. Health Benefits. Carrot chips can be a healthier snack option because of

its main ingredient, the carrot. Carrots are known to be rich in vitamins,

minerals, and antioxidants. Cooking the carrots through the process of

air-frying results in bacon-flavored carrot chips with fewer calories than

conventional snack foods, contributing to the overall healthiness of the

chips.

4. Dietary Compatibility. The careful crafting of the bacon flavor without

non-pork ingredients makes the carrot chips suitable for diverse dietary

preferences, including individuals following halal dietary restrictions. This

broadens the product's appeal to a wider audience.

5. Versatility. Carrot chip snacks are suitable for various occasions, from

casual snacking to party appetizers. This versatility can contribute to a

broader consumer base and increased market potential.

II. Weaknesses

1. Limited Target Audience. The product may be limited to a smaller target

audience because of its negative perceived impression of other

consumers.
 2. Limited Flavor Options. The product is only limited to one flavor

(bacon-inspired flavor). Creating a new flavor takes time, considering the

unique manufacturing process of the business.

3. Availability of Ingredients. Some ingredients are limited in local markets,

especially ingredients during marination. These ingredients are only

available in a few stores since it is an imported product.

4. Sensitivity to Dietary Restrictions. The thought of a bacon-inspired flavor

product may cause problems for consumers with dietary restrictions.

Although the product's ingredients are vegan, the concept of the flavor

could hinder the product's acceptance in certain market segments.

III. Opportunities

1. Collaborations and Partnerships. Entrepreneurs can collaborate with

well-known culinary influencers, chefs, or other food brands to develop

unique recipes or flavor combinations for carrot chips. These kinds of

collaborations can create excitement, raise brand awareness, and inspire

creative marketing approaches.

2. Health and Wellness Trends. Entrepreneurs can capitalize on the

increasing need for healthy snack options by promoting their brands in line

with wellness and health trends. Bac'nRoot may interest health-conscious

customers by emphasizing its nutritional value and lack of certain

additives that are typically included in other snacks.

 3. Niche Market. Carrot chips attract new consumer segments by identifying

and focusing on niche markets with certain dietary preferences or lifestyle

choices, such as low-carb dieters, fitness lovers, or paleo dieters.

4. Online and Social Media Marketing. The business can leverage the use of

online platforms. Strong internet presence and increased brand

awareness can be achieved by interacting with customers through

interactive content, recipes, and promotions.

5. Targeting Convenience Stores and Specialty Retailers. Entrepreneurs'

access to a larger audience can be achieved by extending distribution

channels to convenience stores and specialized retailers. These

establishments could attract people looking for distinctive and premium

snack options.

IV. Threats

1. Competition in the Snack Market. Given that the snack industry is one of

the most competitive markets, Bac'nRoot may encounter challenges from

well-known companies with wide product lines. Competition for customers'

attention and shelf space might pose a significant threat.

2. Negative Perceptions. Despite highlighting the health benefits of carrot

chips, some consumers may perceive the bacon-inspired flavors to be

unhealthy. The negative perception of others related to nutritional content

and ingredient choices might affect Bac'nRoot’s acceptance into the

market.
 3. Economic Factors. Consumer purchasing behavior can be impacted by

economic downturns or shifts in spending patterns, which could result in a

decrease in the market for specialty snacks like Bac'nRoot.

4. Brand Recognition. Bac'nRoot might face challenges in developing

consumer confidence if it is not well-recognized or trusted in the market.

Overcoming this threat requires establishing and preserving a strong

brand image. Furthermore, if a niche product with unique flavors has not

yet become well-established in the market, some retailers could be

hesitant to sell or promote it. Shortage of shelf space can be a barrier to

accepting it in the market.

For an even deeper analysis, the entrepreneurs listed below Porter’s Five

Forces Analysis:

I. Threat of New Entrants

A. The unique combination of bacon-inspired flavor and carrot chips

can create a barrier to entry, as replicating the specific taste may be

challenging for new entrants.

B. Established brands in the snack industry enjoy a level of trust and

recognition. Building a new brand around bacon-inspired flavor

carrot chips requires substantial marketing efforts to compete

effectively.
 C. Existing brands may have well-established distribution networks,

making it difficult for new entrants to secure shelf space and reach

consumers.

II. Bargaining Power of Suppliers

A. Carrot suppliers may have low bargaining power as carrots are

widely available and sourced from various regions. However,

suppliers of bacon flavoring might have more power due to the

specific and potentially unique nature of the flavor.

B. Suppliers of bacon flavoring might have a moderate level of power

if there are limited substitutes for achieving the desired taste, giving

them some negotiation leverage.

C. Maintaining quality standards for both carrots and bacon flavoring is

crucial. Strict quality control measures can reduce the power of

individual suppliers.

III. Bargaining Power of Buyers

A. In the snack industry, buyers often have a wide range of choices.

The unique nature of bacon-inspired flavor carrot chips might

initially attract certain consumers, but the broader snack market

provides alternatives.

B. Consumers may be price-sensitive, impacting the company's ability

to set premium prices for the unconventional product.

C. The strength of brand loyalty in the snack industry can influence

buyer power. If consumers develop a strong preference for

 bacon-inspired flavor carrot chips, it could enhance the company's

position.

IV. Threat of Substitutes

A. Other healthy snack options, such as vegetable chips or traditional

carrot snacks, pose a threat if consumers prioritize health over the

unique bacon-inspired flavor.

B. Traditional snacks like potato chips or pretzels may serve as

substitutes for those not interested in experimenting with

unconventional flavor combinations.

C. Shifts in consumer preferences towards different flavors or types of

snacks could impact the demand for bacon-inspired flavor carrot

chips.

V. Competitive Rivalry

A. The level of competition depends on the saturation of the snack

market. If it is highly saturated, standing out with a unique product

becomes challenging.

B. Ongoing innovation in the snack industry, with new flavors and

combinations, increases competitive rivalry. Continuous product

improvement is essential.

C. The effectiveness of marketing strategies and branding efforts can

significantly influence competitive rivalry by attracting and retaining

customers.
CUSTOMER SEGMENTS

The intended customers for bacon-inspired flavored carrot chips are those who

enjoy the savory taste of bacon but prefer a healthier alternative. For those who care

about health, the company will highlight the goodness of carrot chips, offering a tasty

snack that is also better for the customers. With the different customer segments being

identified, the brand plans to create messages and promotions that connect with each

segment.

1. Demographic Profile

The primary method for customer segmentation is based on observable

demographics, such as gender, age, family status, occupation, education,

income, religion, race, and ethnicity. Bacon-inspired flavor carrot chips are made

to accommodate a wide range of consumers, regardless of their age or lifestyle.

These tasty snacks are meant to appeal to both students and people practicing a

healthy vegan or vegetarian lifestyle, and there's no preference based on gender.

They are priced to be affordable for the middle class, making them accessible to

a broad range of customers with different educational backgrounds, nationalities,

and job attainments.

2. Psychographics

Psychographic segmentation categorizes the customers based on

attitudes, values, lifestyles, and interests. The customers consist of individuals

who have a strong inclination toward healthier snack options. They prioritize

nutritional content, delectable flavors, and the capability to fulfill both their food
 cravings and dietary requirements. These customers actively partake in activities

that contribute to a healthy lifestyle and take pleasure in foods that not only offer

the necessary nutrition but also satisfy their taste preferences. They value both

the savory taste and healthful advantages associated with nutritious snacks.

Their leisure activities may involve activities such as jogging, reading healthy diet

books, and socializing with individuals who share similar health-oriented goals

(Leisure, 2022). These customers are particularly inclined to choose food items

that are both beneficial to their health and enjoyable in taste.

3. Behavior

Behavioral segmentation classifies consumers based on their interactions

with a company, studying traits like their knowledge, attitude, usage, preferences,

and responses to products, services, promotions, or brands. Customers are

triggered to choose bacon-inspired flavored carrot chips due to behavioral factors

such as health consciousness, snack cravings, taste preferences, and lifestyle

choices. These individuals actively seek snacks that offer nutritional benefits and

contribute to their overall well-being, finding appeal in the low-calorie and

nutrient-rich profile of these chips. The unique blend of flavors, combining the

smokiness of bacon with the natural sweetness of carrots, caters to those who

value both taste and nutrition. Additionally, individuals with busy lifestyles

appreciate the on-the-go convenience of bacon-inspired flavor carrot chips,

meeting their need for quick and nutritious snacks. Recognizing and targeting

these behavioral segments enables businesses to tailor marketing strategies and

 product positioning to resonate with specific customer needs and drive sales and

satisfaction.

4. Scope

Bac'nRoot's customer base spans diverse locations, with a primary focus

on Mindanao State University - General Santos City. The business also has the

potential to attract customers in specific regions and cities within the country

through online platforms. Bac'nRoot's goal is to connect with customers who

appreciate nutritional food and seek a healthy snack alternative to satiate their

cravings. In essence, Bac'nRoot's target audience comprises individuals who

prioritize a balanced blend of flavor and nutritional value in their snacks, aspiring

to adopt a healthy lifestyle by choosing nutritious options. These customers place

value on the nutritional benefits offered by bacon-flavored carrot chips,

positioning them as the ideal audience for Bac'nRoot.

COMPETITORS

In the context of the ongoing trend toward vegetable chips, the emergence of

new competitors not only expands the market but also intensifies the competition for

both established and burgeoning companies. Currently, all known vegetable chip

companies have the same style of manufacturing process and offer the same set of

traditional flavors on the market. However, Bac'nRoot stands out for its new premium

flavor and unique approach to vegetable chips, which usually relied on flavored

powdered additives to taste.

1. Direct Competitors

a. Berde Eats Carrot Chips (Plain Carrot Chips). Carrot chips are produced

exclusively from carrots, vegetable oil, salt, and yeast powder which is

then vacuum-cooked until crispy.

b. La Corazon Carrot Chips with Dill (Carrots Chips and Dill). Carrot chips

are prepared from a mixture of carrots, dill flour, and water which are then

cooked and packaged.

c. Riskteen Carrot Chips (Flavored Carrot Chips). Fried carrot chips

seasoned with classic flavors like barbeque, cheese, and sour cream.

2. Indirect Competitors

a. Kangkong Chips by Josh Mojica (Kangkong Chips). Kangkong leaves are

coated in flour and starch before being deep-fried and seasoned. While

utilizing an entirely different main ingredient, the Kangkong chips remain a

competitor as they target the same market as Bac’nRoot.

b. BahagHari (Taro Chips). Fresh taro roots that are thinly sliced and fried

before being seasoned by powdered additives. BahagHari offers both

traditional and premium flavors like truffle which makes them stand out in

the market.

c. Mom’s Haus of Mushroom (Mushroom Chips). Thinly sliced mushrooms

are processed and fried before being seasoned. These chips are available

in classic flavors like onion, chili, and salted eggs. Asian-inspired flavors

like kimchi and takoyaki-flavored chips are also made available by the

business.
 Business Berde Eats Carrot Riskteen Carrot Bac'nRoot
Chips Chips

Product/services Plain Carrot Chips Flavored Carrot Bacon Flavored

Chips Carrot Chips

Target audience Consumers who Consumers who Consumers who

generally watch generally watch generally watch
what they eat. what they eat. what they eat.

Price structure ₱140.00 per 80g ₱70.00 per 55g ₱75.00 per 100g

Marketing Social Media Uses mainstream Social Media

strategies platform as its main social media platform as its main
advertising platforms advertising
platform. specifically, the platform. Create an
Collaborated with TikTok app, and online page and
small to advertises it there. advertise it there.
medium-sized Potentially
enterprises here in collaborate with
the Philippines. small to
medium-sized
enterprises as well
as mainstream
public markets here
in the Philippines.

Strengths Offers same-day Offers a wide The flavor is

delivery in selected variety of both consistent for it is
retail shops. classical and marinated into the
traditional flavors to carrots and not
vegetable chips. topped or sprinkled
by flavored
powdered
additives.

Weaknesses It is just a plain Flavor might not be There is a lack of

vegetable chip. accustomed to flavor variety and
There is a lack of everyone. preferences of
flavor variety. Inconsistency of flavor may vary.
flavors for it solely
relies on the
flavored powdered
additives.
Table 2. Competitors
 In the table, Bac’nRoot is compared to its three indirect competitors, namely

Berde Eats Carrot Chip and Riskteen Carrot Chips. Among them, Bac’nRoot offers a

new taste in the market of vegetable chips far off from the classical and traditional

flavors available today. For only 70 pesos the consumers can enjoy 100g of Bac’nRoot’s

chips, making it very affordable to its target market. Social media is its primary platform

for advertising, a cost-efficient way of connecting and reaching out to potential

consumers. Moreover, the consistency of full packed flavor is assured due to the

manufacturing approach of Bac’nRoot, which infuses the flavor by marinating it rather

than sprinkling or topping it with flavored powdered additives. Despite that, the lack of

variety in flavors it offers and the unfamiliarity of flavors may affect preferences.

Essentially, Bac’nRoot offers an affordable option for healthier snacks on the

market. Social media as its primary platform for marketing strategy. Offers a new

approach to manufacturing vegetable chips, ensuring the consistency of flavors in every

chip. While it may be limited in the variety of flavors it offers, it can still leverage its

market position through the introduction of a new flavor to the market.

MARKET RESEARCH

Market research is a process of obtaining, analyzing, and interpreting data to

determine the viability of a new product or service (Twin, 2023). It also collects vital

information from a company such as the target audience, market, and competition

which can aid in creating and designing better marketing strategies (Sharma, 2023). In

essence, market research is done before the launching of a product or service to

determine its feasibility, identify potential new markets and marketing trends, and test
the demand of a product (Sharma, 2023). Technically, this process can be done through

surveys, interviews, customer observations, and focus groups (Fleetwood, 2023).

VALUE PROPOSITION

Bac’nRoot Carrot Chips are unique for several reasons. The following are some

of the features that this product can offer that can impact its value.

Bacon-inspired flavor. The carrot chips imitate the smoky and savory flavor of

bacon through the use of a homemade marinating blend that the entrepreneurs made.

This original flavor blend gives it a competitive edge over brands that rely on generic

flavors like barbeque, cheese, etc.

Health-conscious Ingredients. The product utilizes local, fresh carrots in its

recipe while minimizing the amount of sodium contained in the product. The cooking

process employed also allows the product to contain a lower fat content compared to

other deep-fried varieties of chips.

Cost-efficient. The product’s main ingredients are naturally low priced in the

market and because the product is air-fried, there is no need for the entrepreneurs to

purchase large volumes of oil to deep fry in.

Versatile Snack. The carrot chips are versatile in that they can be eaten on any

occasion whether it be as a lightweight snack or as a side dish. The carrot chips can

also be used as a gift for people to give to their friends and family during the holiday

season. It is for this reason that the product appeals to everyone regardless of their age.
 Innovative Snacking Experience. The product allows those with cultural and

dietary restrictions to indulge in the flavor of bacon to some extent without actually

compromising on their beliefs. It also gives consumers that chance to try a new flavor

profile that they have never tasted before.

Appeal to all Age Groups. Bac’nRoot is made for all age groups. It can be

bought and consumed by anyone regardless of their age. This is partly because of its

flavoring, the sweet and savory taste of the carrot chips fits perfectly with the Filipino

palate for sweet and salty food.

Culinary Craftsmanship. The product showcases the culinary craftsmanship

required to produce an innovative flavoring for vegetable chips.

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