Chibogaballs

“Banaquettes”
“Banaquettes are bite-sized croquettes filled with sweet filling, a banana-inspired twist.”

A Business Plan Presented to the

Integrated Basic Education Department
Senior High School Unit
San Beda University Manila

In Partial Fulfillment of the Requirements for the subject,

Entrepreneurship

Presented by:
*Minimo, Quin Jeanine M.*
Barba, Raphael Tobit E.
Minimo, Quin Jeanine M.
Nitura, Kuichi Dylan B.
Ramos, Uri Achilles V.
Sudario, Jannina Charmelle E.
Valenciano, Markus Andres Deo I.

Presented to:
Mr. Enrico A. Aranda, MBA, LPT
1st Semester | A.Y. 2024-2025
 MINI TASK 1: SWOT Analysis and PESTEL Analysis

A. SWOT Analysis

Strengths Weaknesses

S1: Use of Local Ingredients W1: Perishable ingredients and short shelf life

S2: Commitment to Sustainability and W2: Less experience entrepreneurs

Affordability
W3: Limited budget branding and promotion
S3: Innovative and Unique Product

Opportunities Threats

S1: Demand for Sustainable and Local products T1: Marketing against other food competitors

S2: Utilizing the media as a medium T2: Managing time and schedule

S3: Growing Interest in Unique Food Products T3: Consistency in making the product

STRENGTHS

Summary: The company’s strength is rooted in its use of local ingredients, commitment to
sustainability and affordability, and innovative product. By using saging na saba and other local
ingredients as an alternative for pricey ingredients, the company not only ensures quality snacks
but will also support Philippine farmers and promote sustainable agricultural practices. Its focus
on affordability helps address food insecurity while making nutritious food accessible.
Additionally, the company with its creative saging na saba croquettes, filled with unique flavors
like chocolate, cheese, and ube halaya, attracts consumers and enhances the brand.

S1: The company's dedication to using saging na saba and locally produced ingredients is
a significant asset that improves both product quality and brand identification. In making use of
ingredients from the Philippines, we help local farmers and promote sustainable agricultural
practices. Also, this not only promotes economic growth but also ensures the ingredients are
fresh and of good quality. Additionally, consumers will likely choose companies that create
brands that use local products because it decreases carbon footprints and improves food security.
Being focused on locally sourced products, the company will portray itself as a socially
responsible brand, appealing to people who value sustainability.

S2: The company's mission is to create affordable snacks that alleviate food insecurity, in
accordance with Sustainable Development Goal #2: Zero Hunger. This mission will be relevant
in the Philippines, since some Filipinos struggle with food access and affordability. As a result,
the company will ensure that people from all economic backgrounds may enjoy healthy snacks
without worrying about their budget by offering quality snacks at an affordable price. Thus, the
company will prioritize products that create affordability and promote the community's health
and well-being. Furthermore, the company's commitment to sustainability also includes the
usage of eco-friendly packaging, which appeals to environmentally aware customers.

S3: The company's innovative approach to snacking distinguishes it in a competitive

market. The company produced saging na saba croquettes in various flavors, such as chocolate,
cheese, and ube halaya, as a creative alternative for the traditional potato croquettes. This unique
product not only attracts curious consumers seeking new culinary experiences, but it also
establishes the brand as a food industry trendsetter. The familiar local product and different
flavors may pique the interest of both local and international markets, hence increasing brand
awareness and consumer loyalty. Furthermore, the snack's bite- size makes it ideal for consumers
looking for a quick, on-the-go snack.

WEAKNESSES:

Summary: Bananaquettes faces several significant challenges as a student founded business.

Firstly, our reliance on fresh “saging na saba” poses a risk due to its perishable nature, making it
essential to sell it after cooking to avoid waste. The unpredictability of consumer demand can
result in excess inventory, leading to financial losses and wasted resources. Additionally, our
limited entrepreneurial experience affects multiple facets of our operations, including the
development of effective business strategies, financial management, and marketing execution.
This inexperience may hinder our ability to budget effectively and understand market trends,
making it difficult to identify our target audience and promote our products successfully.
Furthermore, time management is a challenge, as balancing academic responsibilities with the
demands of running a business can create delays in product development and operational tasks.
With limited time to dedicate to our aspect of the business, we risk failing to meet production
deadlines

W1:Bananaquettes relies on fresh “saging na saba” as its primary ingredient, which

presents significant challenges due to its easy to spiol. This ingredient has a limited shelf life,
making it essential that our products be sold shortly after being cooked to avoid waste. The
unpredictability of consumer demand poses a risk if demand falls short of expectations, we may
end up with excess products that cannot be sold in time, resulting in financial losses and wasted
resources.

W2:As a student-founded business, we face significant challenges due to our limited

entrepreneurial experience, which affects various aspects of our operations. Our inexperience can
lead to difficulties in developing effective business strategies, managing finances, and executing
marketing plans. For example, we may struggle with budgeting and planning for the future,
resulting in potential financial mismanagement. Additionally, understanding market trends and
consumer behaviour is essential for successful product positioning without experience, we may
find it hard to identify our target audience or promote our product effectively.

W3: As a student founded business, time management is a significant challenge for our
brand Balancing academic responsibilities with the demands of running a business can be
difficult, leading to potential delays in product development, and operational tasks. With limited
time available, we may struggle to dedicate time and attention to each aspect of the business,
which could hinder our ability to execute plans effectively. For instance, we might find it
challenging to meet production deadlines, maintain consistent customer engagement, or respond
to market changes promptly.

OPPORTUNITIES

Summary: As consumers pick eco-friendly and ethically sourced items, "Banaquettes" stands
could benefit a great deal from the present market trends that favor sustainable and local goods.
By highlighting the use of locally sourced ingredients and an approach to sustainability, it draws
customers who appreciate ethical food choices. Furthermore, strategic media partnerships are an
affordable way to increase brand awareness and expand your audience. Additionally, the
growing demand for unusual culinary experiences offers "Banaquettes" a chance to make
themselves known out in the food market by providing creative, one-of-a-kind snacks that blend
regional flavors with modern twists, appealing to customers ready to try something new and
different.

O1: Lately, consumers have been favoring more ecologically friendly and locally based
products. Customers are increasingly interested in what companies can provide by using
sustainable and local products. "Banaquettes" can profit by emphasizing the use of easily
accessible, locally sourced materials that can be brought anywhere. It also emphasizes the
commitment to implementing environmentally friendly packaging, such as "banana leaves," as
an alternative to conventional packaging materials. By emphasizing this, "Banaquettes" is able to
draw in eco-aware clients by using sustainable and local products.

O2: Collaborating with local media, bloggers, and influencers is an affordable way to
increase brand awareness. Using local media and collaborating with influencers is an affordable
way to increase brand awareness and reach of "Banaquettes". In addition to reaching a wider
audience, "banaquettes" are able to capitalize on the credibility and trust that the media outlets
established. Using the media as a platform enables the company to showcase what the product
has to offer in an interesting way and makes it easier to gather insightful feedback. A more
compelling brand presence can result from this two-way exchange of information, which can
help the company identify areas for product and marketing strategy development and
improvement.

O3: Growing Interest in Unique Food Products: Consumers' desire to try new foods and
look for distinctive food options that differ from usual selections increases the market's desire for
creative culinary experiences. "Banaquettes" capitalize on this trend by creatively combining
regional cuisines with a distinctive touch. By turning snacking into a wonderful culinary
adventure, it can also provide a unique taste experience that represents the authenticity and
narrative in food.
 THREATS:

Summary: In making a business it is given to encounter possible threats. As students we are still
learning to face these threats, thus it is a big challenge for us to go through these threats such as
Marketing against other food competitors, Weather Conditions, and Economic Conditions. There
are threats from starting a business that must be faced in order for us to gain knowledge in
making a business as students.

T1: In marketing our product, known food competitors are a threat for us. Since
marketing is a competition it is a challenge for us to ensure that our product is well marketed. In
marketing we must keep our standards high in order to attract more customers. Failure to market
our product will lead to customers buying the products of our competitors.

T2: Weather conditions are a threat to our business particularly when it is situated in an
extreme heat and heavy rain-prone country. For instance, extreme heat can affect the quality of
our ingredients; therefore, spoilage could be expected. Heavy rain may also affect the timely
delivery schedule, causing delivery delays and customer dissatisfaction. We are also likely to
face problems in the supply chain with the availability of our products since bad weather would
create restrictions on access and means for acquiring essential ingredients.

T3: Inflation can affect the stability and consistency of our product. Our ingredients'
prices might rise with the ever-changing economic conditions in the country. This situation
creates a challenge for our business mainly because it operates within students' limited budgets.
With ingredient costs rising, the challenge of running the business is even more difficult under
control and profitable.

B. PESTEL Analysis

Political Economic Social

- Government support - Sustainable - Health and Nutritional
for Local Agriculture Agriculture Awareness
- Compliance with - Waste reduction - Cultural Preference
regulations - Eco-friendly and Familiarity
- Addressing Food packaging - Community and Local
Insecurity Support
- Affordable and
accessible for
everyone
Technological Environmental Legal
- Efficient Production - Sustainable Packaging - Labelling Laws
Techniques - Food Waste - Food Safety
- Packaging Management Regulations
Innovations - Sustainable Sourcing - Environmental
- Online Marketing - Community Compliance
- E-commerce Engagement - Intellectual Property
Rights
 POLITICAL

Government Support for Local Agriculture

 The Philippine government actively has initiatives to increase agricultural output.
Through programs that offer training, and incentives, businesses that rely on local
sourcing are supported. By choosing to source "saging na saba" from local farmers.

Compliance with regulations

 The Philippines has regulations on food safety and labeling. Following these rules
ensures the safety of our customers and helps prevent any legal problems. Staying
compliant also promotes trust with customers.

Addressing Food Insecurity

 A large part of the population struggles with food insecurity, prompting the government
to introduce policies that focus on improving access to affordable, nutritious food.
Companies that help address this issue by offering inexpensive, healthy snacks like
“saging na saba” can play a role in supporting these efforts.

ECONOMICAL

Sustainable agriculture
 Getting "saging na saba" from nearby farms helps promote sustainable farming. By
backing eco-friendly agricultural methods, lowering the carbon emissions connected to
transportation and contributing to preserving biodiversity.

Waste reduction
 The business can reduce waste by making use of the native banana during production or
exploring creative ways to repurpose any byproducts, helping to support a circular
economy and minimizing value.

Eco-friendly packaging
 The business will use eco-friendly and biodegradable materials for the packaging, aiming
to minimize waste and reduce environmental pollution. Supporting local efforts to fight
pollutions.

SOCIAL

Health and Nutritional Awareness

 With millions of Filipinos suffering from food insecurity, the requirement for affordable
but still nutritious foods is very high. This product intends to provide an economical,
balanced, and budget-friendly diet by supplying "saging na saba," a fiber-rich and
nutrition-promoting fruit.

Cultural Preference and Familiarity

  Filipinos are identified by their relationship with local cuisine, such as the "saging na
saba" (turon and banana cue), which is popular as a snack in the Philippines. This product
is a new and modern addition to the industry as it adapts an age-old ingredient. The
business makes a snack that appeals to local tastes, increasing its appeal.

Community and Local Support

 In this generation, the popular call to “Support Local” reflects the collective effort to
boost economic growth in the Philippines. This product embraces that goal by supporting
local agriculture, using locally sourced "saging na saba" as an alternative to potatoes.
This approach not only strengthens brand loyalty but also enhances the product's positive
social impact.

Affordable and accessible for Everyone

 A large portion of the population lives in poverty, and food insecurity remains a
significant issue. This product aims to help address Sustainable Development Goal 2,
which seeks to achieve "zero hunger," by being accessible and affordable for people of all
social statuses.

TECHNOLOGICAL

Efficient Production Techniques

 In our modern times, one can make use of creative innovations to produce top-quality
food. For instance, this business is going to use such tools to guarantee the quality of the
product while at the same time ensuring that it remains fresh and will be in demand as
expected but they will not lose the essential nutrients, flavor in it.

Packaging Innovations
 According to the International Union for Conservation of Nature, it is estimated that 20
million metric tons of plastic litter enter the environment each year. This company wants
to minimize the use of plastic by using packaging that is environmentally friendly,
besides this it will be made from banana leaves and therefore it will be common among
the Filipinos, the banana leaves packaging is in line with the current environmental
trends.

Online Marketing
 This generation’s children depend on advanced technology in advertisements. This
particular business will go to social media sites including Facebook, Instagram, among
others, to advertise the product. Also, through detailed posts, the firm’s objective is to
communicate its mission, vision, and advocacy and thereby enhance community
awareness and support for its objectives.

E-commerce
 Currently, a big percentage of the population buys food through online sites. This
business will employ these platforms to ensure that people access the product with ease
and convenience and make the purchases.
 ENVIRONMENTAL
Sustainable Packaging
 Utilizing recyclable and biodegradable materials for packaging can help reduce
environmental issues and pollution which supports a healthy environment.

Food Waste Management

 Utilizing overripe bananas can help reduce food waste by preventing good fruit from
being thrown away and turning it to a nutritious and tasty product.

Sustainable Sourcing
 Purchasing locally grown bananas can lower emissions and promote environmental
sustainability, this attracts consumers who are environmentally conscious with their
surroundings.

Community Engagement
 Promoting sustainability and environmental awareness through collaborating with local
communities can strengthen ties within the community.

LEGAL
Labeling Laws
 The ingredients used and their nutritional information should be stated on the package to
gain the consumer's trust and ensure food safety regulations.

Food Safety Regulations

 Follow the safety food regulations to protect consumers and the brand for safe
consumption.

Environmental Compliance
 Adhering to food waste management and emissions regulations to reduce environmental
issues.

Intellectual Property Rights

 Get trademarks and patents for your brand for unique and original recipes to keep ideas
from competitors.