Marketing Feasibility FINAL (2)

PAMANTASAN NG LUNGSOD NG MAYNILA

(University of the City of Manila)

Gen. Luna cor. Muralla St., Intramuros, Manila, Philippines GRADUATE SCHOOL OF MANAGEMENT

(College of Business Management – Graduate Programs)

Master of Business Administration (MBA) Marketing Principles an D!an"ics

GMB 60

Feasi#ilit! St$! %Ca&e$"Ar'"atic'

Written Report

Su!mitted !"# A#lan( )'anna Marie C* Aran+a( E"'n His',an( N'-el!n Lag$nin'( Le' Mark

Su!mitted to# Pr'&* Geraline Re!es

$anuar" %&, %0&' nd Feasibility Study : Cafeum Aromatico “Te Amo Coee” 2 Term 2016-201

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TA.LE OF CONTENTS I*

DESCRIPTION OF THE .USINESS///////////////*0,1

ompan" ame*************************** +ur Mission***************************** +ur ision*****************************. +ur alues***************************** +ur Location****************************. +ur Product*****************************. Mar-et Potential***************************. i/hli/ht of the Product************************.. Introduction*****************************.. ustomer eeds***************************.. II*

MAR2ETING ASPECT/////////////////////**34,56

Mar-etin/ +!ecti1e**************************. Product 2escription************************** Mar-et 2escription Mar-et Se/mentation************************* nd Feasibility Study : Cafeum Aromatico “Te Amo Coee” 2 Term 2016-201

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3ar/et Mar-et Profile************************.. 3ar/et Mar-et*************************** onsumer Purchase Beha1iour********************* Mar-et Strate/"************************.......... Mar-et 4is-s****************************. 4is- 4eduction**************************** Safet" et******************************. Mar-etin/ Mi5****************************.. Product****************************.. Price*****************************. ompetiti1e Pricin/ Strate/"*****************. Place*****************************.. Promotion************************.. Belo the line Ad1ertisin/********************* People*****************************. S7+3 Anal"sis****************************.. Proposed 2istri!ution hannel*********************.. nd Feasibility Study : Cafeum Aromatico “Te Amo Coee” 2 Term 2016-201

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III* I9*

ORGANI7ATIONAL FEASI.LITY STUDY////////////50,58 TECHNICAL ASPECT/////////////////////*5:,61

Product oncept************************..* Benefits of the Product*********************** Production and 89uipment Materials*****************. :urniture and :i5ture***********************. ost of Production Materials and 89uipment**************. Production flo chart***********************.. 2etailed production 2escription*******************. Product and ost*************************** ;ualit" Safet" Procedure********************.. Stall 2esi/n < Safet" procedure*******************. Mall :loor Plan (2ine in = orporate Perspecti1e***********.. +ffice Perspecti1e (orporate Perspecti1e***************.. 9* 9I*

SOCIO ECONOMIC ASPECT OF THE STUDY /////////*04,03 FINANCIAL/////////////////////////*05,01

:inancial +!ecti1es************************. :inancial Assumption************************ 9II*

ATTACHMENT////////////////////////84,14

Partnership A/reement***********************.. Articles of Incorporation and B">Las = on Stoc- orporation 9III* RECOMMENDATION /////////////////////

I*

DESCRIPTION O F .USINESS

Company Name

+ur c ompan",

, is deri1ed from to ords ?

Cafeum> hich means

coffee in Latin@ and ? Aromatio> hich means scent@ that reflects the totalit" of our product hich is !ased from a coffee !ean, ro!usta. afeumAromatico ill !e esta!lished as a sole proprietor for the first  "ears of its operation !ut ill e1entuall" !e e"ein/ to !oom into a partnership and e1entuall" a corporation. enceforth of this, the folloin/ are the proected ad1anta/es# •

Limited Lia!ilit"

nd Feasibility Study : Cafeum Aromatico “Te Amo Coee” 2 Term 2016-201

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• • •

+nership easil" transfera!le Perpetual 85istence 4aisin/ apital

Our Mission

+ur mission is to !e the leadin/ manufacturer and producer of ro!usta !ean product ho ill dominate the mar-et of 3a/a"ta". Also e ant# • • • • •

3o promote the a/riculture of domestic land, 3a/a"ta". 3o promote tourism in 3a/a"ta" 3o produce health" riched coffee !ean products 3o !ecome 1alua!le and una1erin/ 3o lea1e a mar- in our industr"

Our Vision

+ur ision is to !e ell esta!lished and a leadin/ product of 3a/a"ta" it" carr"in/ their local !rand product enou/h to entice a lar/er mar-et out of the it". Our Values

+ur 1alues help our !usiness to !e more direct and /o to one direction. • • • • •

Social and 8n1ironmental 4esponsi!ilit" 7ell>!ein/ Cpri/htness Leadership Mana/ement

Our Location


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ill !e strate/icall" located near our farm and our consumer. 7e ill stand our stall ithin A"ala Mall, Ground :loor near the entrance and e5it of (specif" the in/ of the mall) herein all transactions shall then !e processed. Our Product

is a uni9ue product that ill deli/ht our consumers in terms of ha1in/ coffee. 3his ill !e an inimita!le approach herein coffee product ill !e redirected from li9uid drinto solid cupca-e and soft panca-e !ut still has the same satisfaction for coffee lo1ers. Maintainin/ the seet and stron/ !oost of coffee ithout much of an effort is e1en more essential in ser1in/ the products. Market Potential

7ith the adapti1e mar-et that e ha1e no a da"s, coffee product consumption has increased from ust a coffee drin- instant coffee to one stop shop coffee and pastr" and others e1en has its dri1e thru ser1ice that pa1es its a" to a more consumer oriented product. And to this, e found such as an opportunit" not ust to sell coffee product !ut to introduce to the mar-et a locall" made product that is easil" !ein/ har1ested and nurtured in the orth 7in/ side of the countr". 3he coffee !ean ro!usta has !een one of the nurtured products in 3a/a"ta". And as one of the har1ested product, oner farmer anted to penetrate the coffee industr" as ell as ho there a/ricultural products did. And since demand for coffee product is 9uiet ascendin/, !ein/ a uni9ue locall" manufactured product has a !i/ potential to sell. Highlights of the Product nd Feasibility Study : Cafeum Aromatico “Te Amo Coee” 2 Term 2016-201

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offee !ean ro!usta, is usuall" !itter and stron/. It is sometimes descri!ed to ha1e a harsh, ood", !urnt taste to it. e1ertheless, ith its di1erse fla1ourful taste and aroma li-ened to chocolate, and e1en ru!!er. 3his t"pe of !ean is used in the production of instant coffee and is added to some espresso !lends to impro1e crema or add a little ?-ic-.@ 3his made it an ed/e o1er other international products and competitors carr"in/ /lo!all" acclaimed certifications. 3he main concept of the product is not onl" to enhance the !itter taste of the !ean !ut to also enhance the nutrition e can /et from it. 7e, the first to introduce such made it a pioneer in the industr" of manufacturin/ coffee , hilst other !rands prefer to offer coffee !ased products ith a lot of promotional re>creation of the !est -non coffee !rand. 7e opted to promote the domesticall" har1ested !ean of ro!usta to hich e can mar-et the hi/h end mar-et offerin/ a health efficient product. Introduction

offee remains the D/o>toD drin- of :ilipinos, a recent stud" !" Eantar 7orldpanel re1ealed. But !esides !ein/ the staple drin- in the countr", the stud" also found that :ilipinos shifted from !ein/ moderate to hea1" coffee drin-ers. :ilipinos are !u"in/ coffee products close to tice a ee- or a!out F& times a "ear spendin/ an a1era/e of Php%% per shoppin/ trip. ea1" coffee !u"ers, on the other hand, !u" close to thrice a ee- or &%6 times in a "ear and pendin/ an a1era/e of Php%F per shoppin/ trip. 3rac-in/ the shoppin/ !eha1i or of ,000 households across the countr" from $une %0& to $une %0&, Eantar 7orldpanel disco1ered that for e1er" Php&00 spent on !e1era/es, Php0 is allotted for coffee. 3his is an increase from last "earHs Php%F. nd Feasibility Study : Cafeum Aromatico “Te Amo Coee” 2 Term 2016-201

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Mar-ets that are dri1in/ the sales of coffee mi5es are Metro Manila, South Luon, and Mindanao. 3he stud" said that consumers from Metro Manila and Mindanao spend Php&J and Php&&0 more on the a1era/e, respecti1el". Accordin/ to Eantar 7orldpanel, coffee sales /re &0 percent in $une %0&, compared to its four percent in the same month last "ear. 2ata from the stud" shoed that the increase of purchases of coffee mi5es has !een consistent for the past to "ears and that J percent of :ilipino homes !u" coffee mi5es at least once a ee-.Bu"ers ere found to !e t"picall" Metro Manila> and ur!an>!ased and from homes ith a relati1el" older demo/raphic. D:ilipinosH lo1e for coffee is /roin/ stron/er !" the "ear. +ur data reflects their openness to em!race different formats of coffee products as ell. 7e anticipate this cate/or" /roth to continue in the comin/ "ears,D 2eocarea e5plained. 7ith this, e thou/ht of identif"in/ one /ood product that could culti1ate the mar-et of coffee drin-in/ people !ut ith a tist of promotin/ the nutritional additi1es a coffee !ean !" ser1in/ a /ood product hich 3a/a"ta" it" can !e proud of. afeum aromatic !ein/ one of a -ind coffee product pro1ider ensures the completeness of the product hich completes the satisfaction of ta-in/ in coffee !ased food !e1era/e. Also, ith its /ood !rand presentation that can ala"s !e remem!ered !" its consumers and essential to their demo/raphics. Assurance that &00K /reatness ill !e reached. Customer Needs


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7ith the undenia!le 1i/orous !eha1iour of the consumers e"ein/ for a coffee product, !e"ond satisfaction. A uni9ue !lended !itterl" seet coffee ill /ratif" the taste !uds of the consumers ha1in/ a ne product rather the usual of choice.


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Marketing Aspect

II*

MAR2ETING ASPECT

Marketing Objectie

•

3o de1elop !rand aareness of our different coffee products produced from home/ron coffee !eans of 3a/a"ta" ith the lass A ?8lite@ tar/et mar-et

•

throu/h a stead", month to month increase of ne customer. 3o pro/ress an increasin/l" num!er of sales hile achie1in/ a status 9uo or

•

decrease in mar-etin/ e5penses. 3o penetrate 3a/a"ta" it" coffee lo1ers and achie1e K percent of mar-et share in the first "ear of operation.

Product !escription


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•

afeumAromatico ill offer its tar/et customers the !est tastin/ coffee cupca-es, panca-es and iced coffee !e1era/es in the area. +ur product ill !e -non not

•

onl" for its delicious taste !ut also for its smooth sensin/ coffee aroma. BA: oncept !elo

.ENEFITS

AD9ANTAGE

offee -non for All

natural

FEATURES

and Appealin/

its

pac-a/in/

anti>o5idant locall" nurtured in desi/n

content elps "ou to -eep

the 3a/a"ta" ;ualit" products at a

"our

mind

and

A1aila!le for ta-e out loer price

!od" alert offee lo1ers ha1e less ris- to ha1e heart disease < 3"pe % 2ia!etes Market !escription

•

afeumAromatico ill position its product to tar/et Students, "oun/ professionals, !usinessmen and retirees ho are see-in/ healthier and 9ualit" coffee products at an afforda!le price located In 3a/a"ta" it". 3he" !elon/ to the lass A mar-et a/es %0 to 6 ith income o1er PhpF0,000.00 = for Professionals

•

< Businessmen. As a ne entrant in the mar-et, e ill allocate !ud/et for ad1ertisin/ and sales strate/ies to introduce our products.

Market "egmentation nd Feasibility Study : Cafeum Aromatico “Te Amo Coee” 2 Term 2016-201

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GEOGRAPHIC SEGMENTATION

TAGAYTAY CITY

AG8# %0>6 "ears old :AMIL SI8# sin/le, sin/le parent, couples, couples ith si!lin/s G8284# female and male DEMOGRAPHIC SEGMENTATION

I+M8# Php F0,000.00 and a!o1e :AMIL LI:8 L8# "oun/, married 82CA3I+#

+LL8G8

C284G4A2, P4+:8SSI+AL < BCSI8SSM8 LASS A &st purchase# tr" to purchase product that are uni9uel" presented %nd purchase# ill result

to

satisfaction, continuit" of usa/e, .EHA9IORAL SEGMENTATION

!rand shift and !rand reco/nition P4+2C3 CSAG8# li/ht, medium and hea1" usa/e B4A2 L+AL3# none, medium < hi/h PSYCHOGRAPHIC


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LI:8S3L8# Simple and the" do not displa" their ealth < properties. 7hile !u"in/ the" e5pect special SEGMENTATION

ser1ices from seller P84S+ALI3# Price < ealth onscious, 7ise onsumers, and read" top accept ne ideas

Target Market Pr'&ile

#arget Market

afeumAromatico ill primaril" concentrate on lass A mar-et ?the 8lite@ 3he 8lite# People that are emplo"ed or self>emplo"ed ith income ran/in/ from Php F0,000.00 and a!o1e. 3he" usuall" li1e in lar/e homes in e5clusi1e nei/h!orhood. 3he" are found to e5hi!it a sense of social responsi!ilit". 3he" patronie fanc", e5pensi1e items !ut the" do not displa" their ealth < properties. 3his /roup is a 1er" /ood mar-et for uni9uel" desi/ned products. Consumer Purchase $ehaiour

DESCRIPTORS

7+38A48N

IDENTIFIERS

LASSA 3AS38 , SM8LL < 38O3C48

7A3 38 BCN

7848 38 BCN

8AL3 B88:I3S PAEAGIG MALLS S3+48S A:


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+738BCN

PAIAS482I3A42S

3he ta!le shos the purchase !eha1ior of lass A consumer Competitors

Star#$cks first

open in &J'& at SeatlleQs Pi-e Place Mar-et. +fferin/ offees,

teas, pastries, sandiches, salad, oatmeal, etc. ith no o1er %,000 stores o1er'0 countries.

Ba/ of Beans is specialied in /ourmet and all time fa1orite dishes, freshl" !a-ed !reads, home>made recipe pies, ell !lended drin-s and aromatic freshl" !reed coffee. 3he" also offer !rea-fast < !runch !uffets e1er" ee-end and holida"s.

offee Bean < 3ea Leaf is an American coffee chain founded in &J6. It is oned < operated !" International offee < 3ea LL ith o1er &,000 self oned< :ranchise stores in the Cnited States and %J other countries offerin/ offees, teas < pastries.

MAR2ET STRATEGY

afeumAromatico ill !e/in to penetrate its mar-et !" usin/ Personalied Mar-etin/ strate/". 7ith the inno1ati1e approach of the coffee !ean ro!usta that has !een pac-ed and ser1ed to deli/ht classes of 8lite circle. 3he oners shall also !e the primar" ser1ers and order nd Feasibility Study : Cafeum Aromatico “Te Amo Coee” 2 Term 2016-201

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ta-ers to ma-e our consumers feel the personalied ser1ice (care, concern) that the compan" has to offer. Aside to that, it ill achie1e to use underco1er mar-etin/ strate/" simultaneousl" !" silentl" promotin/ the a/riculture of 3a/a"ta", promotin/ the primar" product used hich is home /ron, nurtured and har1ested directl" from the locals of 3a/a"ta" proper. 3o this effect, !lue ocean approach ma" not !e considered !" the /i/antic competitors in the mar-et !ut as a start>up !usiness. 3hese to primaril" used strate/ies ill penetrate the tar/et mar-et in no such time. Market Risks

MarketRisks

Descripti'n

Assess"ent

C'ntr'l

85istence of ell> -non !rands in the mar-et mi/ht lead to Mar-et Acceptance

i/h 4isresistance

3aste tests

of

consumers to accept our product Increase

!rand

8mer/in/ Product imitation

i/h 4is-

and

ad1ertisin/

competition efforts :ortuitous

e1ents Insufficienc" of ra

and calamities

natural

Produce on ra Lo 4is-

material suppl"

materials


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Present

onsumers tend to

Inno1ate product

sitch !rands due to

o1ertime

consumer continuous

chan/e Medium 4is-

!u"in/ !eha1ior in

2o

consumer

Mar-etin/

research

preferences 4ise and :all of 8conomic rises

price

of

!asic i/h ris-

Cncontrolla!le

commodities Spoila/e 2ama/ed product

materials

of

3otal

ra and

Lo 4is-

pac-a/in/

;ualit"

Mana/ement In1est in machineries

%isk %eduction

3he mar-et ris-s in1ol1ed ith our product are as seen on the ta!le a!o1e. Since that e are ne entrant in the mar-et. 7e ould li-e to focus on the first ris-# Mar-et Acceptance. +ur competitor coffee shop !rands that are ell -non toda" e1en ithout ad1ertisin/. 3his can result to our tar/et consumers to refuse our !rand !ecause e ha1e not esta!lished credi!ilit" "et. 3o miti/ate ris-, e ill conduct taste test to the mar-et and as- if the test mar-et is illin/ to !u" our product ith same 9ualit" at a cheaper price.

"afety Net

As an entit" that starts to !e as a Sole Proprietor, it has to ha1e its safet" nets to ensure its continuit". 3hus, the folloin/ safet" nets shall !e used so as to protect the operations, emplo"ees and of course the customers. Safe/uardin/ cash in1estments on a per annum !asis. •


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:or the first "ear of operation, the total income after ta5 shall !e deducted ith FK in

•

hich it ma" !e su!di1ided per 9uarter ha1in/ at least %K per 9uarter as protection. Insurance It ma" me !e too costl" to ha1e a General Lia!ilit" Insurance as a sole. But since the compan" is tar/etin/ to e5pansion, as /ood insurance the !usiness must start from da" one of the operation.

Marketing Mi;

Product

+ur product is made from home /ron freshl" !reed coffee !eans of 3a/a"ta", !lended ith special in/redients to come up ith smooth sensin/ coffee aroma that ill surel" deli/ht "our senses. 7ith the principal product carrier such as afeum Panca-es, afeum upca-es and afeum $ell" :rappe that ill utterl" !e -non to set forth the standard of coffee lo1ers, ill definitel" satisf" the ants and needs of our consumers.

Price C'"petiti-e Pricing Strateg!

LetQs face it. Bein/ a local !rand needs to ha1e a /ood pricin/ especiall" as it onl" !e/ins to ma-e a name in the industr". 3hus, the pricin/ of the product ill then !e loer than those of


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the competitors herein it ill help reco/nie the product of 9ualit" ith a /ood and reasona!le pricin/.

PRODUCT

TARGETPRICING

Panca-e

Php'0.00

upca-e

Php60.00

offee $ell" :rappe

Php JF.00

Place

7e ill initiall" offer our product throu/h Serin A"ala Mall Stall as a distri!ution outlet in the first 6 months. After that duration, e ill start to mo1e to a !i//er outlet to add chairs, ta!le desi/n and create /ood am!iance to /i1e a 9ualit" coffee e5perience ith our customers.

Promotion .el'< t=e Line A-ertising >e#site


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In this di/ital a/e, Internet and Social media is 1er" poerful tool in ad1ertisin/. 7e ill set up a e!site so that e ma" ad1ertise our product in the internet. 7e ill also create and account to :ace!oo- < 3itter to promote our product as ell as the compan". In,st're Pr'$ct testing? &ree taste

In product testin/ e ill !e offerin/ free taste of our product in the stall and alon/ the al-a" of the Mall and from the point of entr" and e5it. Fl!ers an #r'c=$res

7e ill !e ma-in/ fl"ers and !rochures that ill contain important information re/ardin/ the product. 7e ill !e distri!utin/ these alon/ ith the product samplin/ for !rand aareness. Pr'"'ti'nal strateg!

+n the da" of the product launchin/, the product ith its Cni9ue Sellin/ Proposition ith utterl" seet and !itter taste of home /ron coffee !ean of 3a/a"ta" ill !e the most sou/ht after coffee product of course !" the class elite circle. 3AGLI8#

afeumAromatico 3eAmo offee

3his CSP ill !e used a principal positionin/ of the !rand and the product hich ill start in 3a/a"ta". PEOPLE

+ur tar/et mar-et is lass A ?the 8lite@. S>OT ANALYSIS


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STRENGTHS

Products # 8ach product contains health" Benefit

>EA2NESSES

Less popularit" and reputation compared to others

Price ompetiti1eness

o 85perience# As start up, less e5perience in +peratin/ a !usiness Pac-a/in/# Cni9uel" desi/ned and la!eled !o5 andmu/stosuitemoderntaste Location# Enon Mall >Serin A"ala Mall OPPORTUNITIES

han/in/ ustomer taste

THREATS

ompetition# Lots of Popular coffee shop Star!uc-, !a/ of !eans < 3he offee !ean

 ealthconsciousustomers Mall Space rentin/ increases

STRENGHTS Pr'$ct % Eac= pr'$ct c'ntain =ealt=! #ene&its

+ur products are made of home/ron hi/h /rade !eans of ro!usta har1ested from the it" of 3a/a"ta". 4o!usta has lo acidit", hi/h !itterness and more antio5idants than Ara!ica coffee. 4o!usta also has loer su/ar content o1er Ara!ica. 3his ill /i1e our customer coffee deli/ht in a healthier a".

Price C'"petiti-eness

3he reasona!le price of the product is considered as stren/th e1en thou/h its price is 1er" close to its competitor, it is still of /reater orth !ecause the product offer !etter health !enefits to consumers. Packaging nd Feasibility Study : Cafeum Aromatico “Te Amo Coee” 2 Term 2016-201

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+ur products are ill !e presented ith our e"e>catchin/ desi/ned and la!elled !o5es for cupca-es < panca-es. Iced coffee ill !e presented ith uni9uel" !ul! li-e /lass for dine < dome cups for ta-eout. L'cati'n

+ur location ill !e on Serin A"ala Mall in +li1are 3a/a"ta". 3he location cate/oried as stren/th and considered strate/ic !ecause the place is hi/hl" commercialied and close to different esta!lishments li-e hospital and colle/es. >EA2NESSES P'p$larit! an Rep$tati'n

As a ne entrant, afeum Aromatico is less popular and e are ust startin/ to !uild reputation ith our customer. 7e consider this as a ea-ness !ecause our potential customers are not "et aare of our products and its health !enefits. Adaptation of our product comes hen aareness and product trial as conducted.

E;perience

7e are ust startin/ our !usiness and e are still needs a lot of impro1ement to ma-e. 81en thou/h e ha1e less e5perience ith our competitors, e ill are still confident that our compan" ill !e in the ed/e of success thru hard or-, dedication, continuous inno1ation and stri1e to pro1ide /reat coffee e5perience for our customer. OPPORTUNITIES nd Feasibility Study : Cafeum Aromatico “Te Amo Coee” 2 Term 2016-201

!a"e 21

C=anging C$st'"er Taste

onsumers are ne1er satisfiedR the" are ala"s cra1in/ for somethin/ ne. And this characteristic of the consumers is an opportunit" for the compan" despite the e5istence of !rands that offer the same t"pe of product !ecause there is still possi!ilit" that the consumers of other !rands ould still tr" and sitch to afeum Aromatico.

Healt= c'nsci'$s c'ns$"ers

3his is considered as an opportunit" !ecause the more health conscious the consumers are the more the" see- for healthier products. afeum Aromatico product is no dou!t to !e more healthier a" to eno" coffee, there is /reater opportunit" that the consumers ill tr" the product.

THREATS

C'"petit'r

Star!uc-s, !a/ of Beans and 3he coffee !ean alread" ha1e lar/er part of the mar-et share and since e are ust startin/ to compete ith them is 1er" ris-".

Rent increases

afeum aromatico ill put its !usiness in Serin A"ala Mall thatQs h" e consider this as a threat. Increase in 4ent e5penses ill surel" cut our income.

PROPOSED DISTRI.UTION CHANNEL nd Feasibility Study : Cafeum Aromatico “Te Amo Coee” 2 Term 2016-201

!a"e 22

CAF*+) FA()

A(,)ATC ,

C,.S+)* (S


!a"e 2#

Organi+ati'nal Feasi#ilit! St$

Organi+ati'nal Feasi#ilit! St$!

7e anted afeum Aromatico to !e ell esta!lished and !e the leadin/ !rand that sells 3a/a"ta" /ron coffee fla1oured products. As a ne entrant, the mana/ement focuses on the strate/ies in !rand aareness thru 1arious !elo the line promotions that ill lead our mar-et to product acceptance and adaptation. As a starter, e aimed to pinch at least K nd Feasibility Study : Cafeum Aromatico “Te Amo Coee” 2 Term 2016-201

!a"e 2$

mar-et share from our e5istin/ competitors in the first "ear of operation. 7ith our strate/" in line ith our 1ision, afeum Aromatico ill !e usin/ Personalied Mar-etin/ Strate/" penetrate the elite mar-et. 7e anted to /i1e our customer the !est coffee e5perience in their li1es. 7e anted this e5perience !e catered not onl" in 3a/a"ta" !ut also alon/ its cit" nei/h!ours. arr"in/ the local coffeeproduct ith pride, this ill surel" promote tourism in 3a/a"ta". 3his ill also i/nite our coffee farmer to !rin/ !ac- health" trade of coffee product in the land. 7ith these approached, e could pro!a!l" sa" that our !usiness e5istence ith not onl" uplift the life of the local farmer !ut also creatin/ an inno1ati1e a" to address the e1er chan/in/ customer ants and needs. 7ith our lo cost !elo the line promotional strate/ies and personalied mar-etin/ approached, there is hi/her possi!ilit" ill afeum Aromatico ill continue to e5ist despite of the competition of the mar-et.


!a"e 2%

Tec=nical Aspect

TECHNICAL ASPECT A* Pr'$ct C'ncept

In choosin/ the ri/ht product for our feasi!ilit" stud", e ere thin-in/ of hat -ind of !usiness do e ant to put up, is it a product or a ser1ice -ind of !usiness. 7e all decided to nd Feasibility Study : Cafeum Aromatico “Te Amo Coee” 2 Term 2016-201

!a"e 26

de1elop a product for our feasi!ilit" stud". 7e ha1e conceptualied to !uild our on !usiness hich ill !e called as ?afeumAromatico@ hich ill sell products ith coffee as main in/redients since it is suita!le for the cold eather and itQs hi/h suppl" in 3a/a"ta". afeumAromatico ill !e caterin/ the  main products at it launchin/ in the mar-et hich includes cafeum cupca-e, cafeum panca-e and cafeum ell" frappe. offee is easil" /ron especiall" in hi/h lands and the !enefits of it such as it can !oost ener/" le1els, !urn fats, ma" loer the ris- of ha1in/ dia!etes, ha1in/ an AlheimerQs disease and dementia moti1ated the /roup to inno1ate a product that are suita!le for all health conscious customers particularl" the elites in 3a/a"ta". 2ia!etes is top 6 that causes death of :ilipinos also forces the /roup to de1elop a product that are ithin reach and ithout sacrificin/ the taste of home. .* .ene&its '& t= e Pr'$ct

offee is -non as antio5idants that can cure some illnesses and can !e an effecti1e mood enhancer.

C* Pr'$cti'n E@$ip"ent an "aterials


!a"e 2

O-en an F'' Mi;er

:or !a-in/ the cupca-e and e1enl" mi5in/ the in/redients.

Meas$ring Utensils

Accurate measurements ill !e made ith the aid of measurin/ spoons and cups.

Cart

3hese carts ill !e used for mo1in/ ra materials and in1entor" stoc-. nd Feasibility Study : Cafeum Aromatico “Te Amo Coee” 2 Term 2016-201

!a"e 2&

Packaging

A customie pac-a/in/ for

panca-es

and

cupca-es ill !e use hich ill !e !ou/ht from suppliers. 7e ill also ma-e use of !o5es in deli1eries. Stainless .'
3his ill !e used to aid the mi5in/ process.


!a"e 2'

C'&&ee

.re
an

.lener

3his ill !e used for proper

e5tractin/

of

coffee taste from the coffee !ean and mi5in/ it ell 1ia the !lender for the frappe

F$rnit$re an Fi;t$res

Fa;

:or communication purposes, one is nd Feasibility Study : Cafeum Aromatico “Te Amo Coee” 2 Term 2016-201

!a"e #0

enou/h to ta-e all necessar" calls.

C'"p$ters

:or

communicatin/

ith

suppliers and distri!utors of the products.

3hree

computers

are

sufficient, to des-top and one laptop for presentation purposes.

O&&ice ta#le

3he four officials ill ha1e their on office ta!le and one lon/ ta!le specificall" for appointments.

O&&ice c=airs

As compliment of office ta!le four e5ecuti1e chairs ill purchased.


!a"e #1

Deli-er 9an

7e ill !e ac9uirin/ a deli1er 1an for deli1eries.

Dining Ta#le

3his ill !e used in the emplo"ee common room for dinin/ purposes.

Printer

3his ill !e used for printin/ order forms and purchasin/ orders and other office purposes.


!a"e #2

>all Cl'ck

7all cloc-s ill !e put on different areas in the facilit".

M'n' #l'ck C=airs

3hese chairs ill !e used for /eneral purposes.

Gar#age .ins

Gar!a/e !ins ill !e situated in specific areas of the facilit" to maintain cleanliness.


!a"e ##

L'ckers

3here ill !e a loc-er pro1ided for each emplo"ee.

Meeting Ta#le

3his ta!le ill !e situated in the main office for meetin/ purposes.

O&&ice S$ppliers

Pens, paper, clips, staplers, folders, etc, ill !e used in the operation.


!a"e #$

Filing Ca#inets

7e ill purchase filin/ ca!inets to or/anie files.

Recepti'n Ta#le

3his ill !e situated in the reception area.

>aste Dispenser

3his ill !e situated at the !ac- of the facilit" so as to maintain cleanliness and mana/e aste.


!a"e #%

St'cking S=el-es

3hese shel1es ill !e situated in !oth the 4a Materials Stoc- room and In1entor" stora/e.

Steel Ta#le

3his is for all the production areas.

Steel Ta#le
3hese ill !e situated at e1er" production area for hand sanitation purposes.


!a"e #6

E;=a$st Fans

3hese ill !e placed in all production Areas. Air,c'niti'ning Units

3hese ill !e installed in all areas of the facilit".

.$n! Cl'ck

7e ill !e ma-in/ use of !und" clocto monitor the emplo"ees attendance and time.

Sa&et! Materials an Gears Fire E;ting$is=er

:or safet" purposes all section is o!li/ed to ha1e fire e5tin/uisher.

Hairnet

All or-ers must ha1e hairnet to maintain the sanitation. nd Feasibility Study : Cafeum Aromatico “Te Amo Coee” 2 Term 2016-201

!a"e #

Meicine 2it

:or e1er" section of e9uipment has a first aid -it in case of emer/enc".

Apr'n

% Aprons ill !e pro1ided for or-ers e5pect the securit" and dri1ers

Disp'sa#le Gl'-es

2isposa!le Glo1es ill !e used !" e1er" production emplo"ee.

D* C'st '& Pr'$cti'n Materials an E@$ip"ents C'st '& Pr'$cti'n Materials  E@$ip"ent

Cnit

2escriptions

AmountinPeso

&

+1en

0

%

:oodmi5er

0

&

P+S Machine Softare to icludecrdeti card s1

3otalAmount

&,000.0

&,000.0 0

,FFF.0 &,000.0

J,''6.

00

&,000.0


!a"e #&

0

0 &,6'.

%,'.

%

Mi5in/Bols



&0

&

8lectric Panca-e Griddle >stall use

0

%

upca-e3ins

00

%

4u!!er Spatula

00

%

:lat7his-



%

7ooden spoon

'

%

Metal Spatula

&%

%

hiefHs -nife (set of )

00

00

%

7ire oo-in/ 4oc-

0

%J. 0F

6

7ooden toothpic-s

00

%

Pot holder < +1en Mitt

00



7ire7hist

%%

%

Measurin/ Ctensils (set &0 pcs)

00

6

Small pourin/ u/ ith /raduated measurements +4

00



Panca-e !atter dispenser (a small cup or u/ ill suffice)

0

%,&0.0

%,&0. 00

60.

'%0. 00

06.

6&%. 00

&,%.6

%,FJ. %F

'&.

&,0. F

&J0.

F0. %

J.

&,&&F.

%.

'F. &0.

00 6.

'0. 00

F&.

&,%. FF

J6.

'J%. 00

&%.

'. 00

FJ.

F. 00


!a"e #'

JFF. %

Panca-e turner (Slice)

00



Palette -nife to lift the ed/es (pcsset)

00



oo-in/ !rush

00



Paper toels holder

00



Panca-e Molds (rectan/le)

00

%

Blender

0

%

offee Breer

0

%

Pitcher Stainless

0

&

Ice Bo5 stora/ecooler

0

%

Measurin/ spooncups

''

&

7hippercream dispenser

0

%

Plastic -itchen stora/e !o5

'J

&,J'6. 00

0.

&,F00. 00

%.

&,0&%. 00

%.

%,%0F. 00

&%.

00. 00

&,0J'.0

%,&J. 00

&,%J.0

%,J0. 00

FF.

J'6. 06

&,%6.0

&,%6. 00

6J.

'J. 

&,%'0.0

&,%'0. 00

J6F.

&,J'. F ₱

','0J.% Sa&et! Materials

0. %

Apron

00

%

airnet

00

₱

&,%00.00 %0.

F0. 00


!a"e $0

%. &00 2isposa!le Glo1es

0

6

00

%0. 00

'0. Medicine Eit

,00. 00 ₱

6,0.00 F$rnit$re  Fi;t$re

,000.0 &

Stall (2ispla")

0

%

Mono !loc- hairs

00

6

Gar!a/e !ins

00

₱

,000.00 00.

600. 00

'J.

'. 00 ₱

,000.00

E* Pr'$cti'n Fl'< C=art

(a7 )aterials Cu8cae9 !ancae9 elly Fra88e3

/ei"in" 5measurin" of in"redients (a7 materials3

)i4in" of in"redients /ei"in" bain" of in"redients3 nd Feasibility Study : Cafeum Aromatico “Te Amo Coee” 2 Term 2016-201

!a"e $1

!aca"in"

Detaile Pr'$cti'n Descripti'n

Colletion!Preparation of Ra" Materials

All the in/redients ill !e purchased in the mar-et aside from the coffee hich ill !e ta-en from the farm. Weighing #Measuring of the ingredients

3he compan" ill ensure a strict ei/hin/ of the in/redients to /uarantee the ideal taste of the product. Mi$ing!Ba%ing of all &ngredients

After ei/hin/ the necessar" in/redient s, e ill mi5 all the in/redients to form the final product. Pa%aging

Pac-a/in/ ould !e the final ste p of the production. 3he compan" ill use en1ironment friendl" pac-a/in/ for the con1enience of the consumers. 'istriution

+ur product ill !e first mar-eted here A"ala Mall, 3a/a"ta".


!a"e $2


!a"e $#

F* Pr'$ct C 's t Ca&e$" Pancake B8 ser-ings , 5 pcs per ser-e

8//

pcs 

Mil-

pint&

Self>raisin/ flour

l!&

Su/ar

o 6

Ba-in/ poder

₱ &F.00

%%.00 %.00 %.00

tsp 

offee(oncentrated)

.00

t!p

&&.00 ₱

Eii fruit

&06.00

₱

.% slice

!lue!err" "u/urt

&'.6'

6.%

 > t!s

F.

Pac-a/in/ !o5

%.0

ost per Ser1in/s

₱

Ca&e$" C$pcake B3 ser-ings

cups % sifted flour &.cups!ronsu/ar t!sp & !a-in/ poder

cups %

₱ J.0

&.cups

.00

t!sp &

.00

nd

Feasibility Study : Cafeum Aromatico “Te Amo Coee” 2 Term 2016-201

!a"e $$

6*:0

pinch & salt of

pinch &

&.00

%lar/ee//s,li/htl"!eaten

%lar/e,li/htl"!eaten

&F.00

softened !utter

&%0 /rams

'.0

coffee(concentratedpoder)

&0t!sp

mil-

&.00

t!s >&0

%.00 &.00

₱

₱

&'.0

&ing (* servings)

confectionar"su/ar

%.cups

tartar poder

tsp&

cocoa poder

t!s &

ater

t!s

%'.00 &.00 6.00

&

> ₱

Linin/ cup Pac-a/in/ Bo5

.00

pc&

%.00

pc&

.60

ost per Ser1in/s

₱

Ca&e$" )ell! Frappe

offee !eans

.0

& pac- > %00 /rams

₱

nd


!a"e

%$%00.00

5:*64

ondensedmil-

%cans

acaopoder%00 > /

%00/rams

Gelatin Mr > Gulaman

pac&

&0.00

3u!eice

&pac-

onfectionar"spra"

00/rams

hoco sprin-ler hoco s"rup

FF.00 &.00

.00 %&.00

pac&

%J.00

pac&

&0.0 ₱

F&.0

₱

upithdomeleadpc

.00

Stra&>pac-&00P

0.&

ost per Ser1in/s

₱

Pr'$cti'n c'st per ser-ings

afeum Panca-e (6 ser1in/s > % pcs per ser1e)

₱

.'

Cafeum Cupa%e (+ servings)

₱

%'.0

Cafeum ,elly -rappe

₱

.J

nd


!a"e $6

0.'F

66*1

G* $alit!  Sa&e t! Pr'c e$re

afeumAromatico ill ma-e sure that all ra materials are fresh and had /one a 9ualit" chec-. afeumAromatico has an official supplier of its ra materials and these suppliers meet the standards of product 9ualit". Apron and hairnet is a re9uirement to all emplo"ees to maintain the cleanliness and 9ualit" of the product. afeumAromatico ill pro1ide a fire e5tin/ui sher in the commis sar" in case of fire and a medici ne -it

in case of

minor accidents. afeumAromatico ill ensure the safet" and securit" in the or-place of the emplo"ees. Accident prone e9uipment such as utensils and other electrical de1ices ill !e properl" chec-ed shall !e placed in a secure place to maintain the safet" of the emplo"ees and the commissar". H* Stall Design  Plan

nd


!a"e $&

nd


!a"e $'

I* 9 icinit ! Map

nd


!a"e %0

nd


!a"e %1

S'ci', Ec'n'"ic Aspect

S'ci',ec'n'"ic Aspect '& t=e St$!

nd


!a"e %2

3he feasi!ilit" stud" ill !e conducted due to 3a/a"ta" farmlands are no !ein/ sold !ecause of the incapacit" of the farmers to /enerate ne income strate/". offee is the main product for the /roup that ill !enefit the local coffee farmers of 3a/a"ta" and pro!a!l" ill moti1ate them to to tilt more their land ith more coffee trees. B" doin/ this feasi!ilit" stud", ne income strate/" ill !e /enerated such as doin/ coffee muffin, coffee panca-es, and iced coffee either ith oran/e ello and hone" cocoa. 3he Local Go1ernment of 3a/a"ta" ill !enefit from this stud" since it ill reduce the unemplo"ment rate of the localit" !" a minimal 1alue in the short>run alone. 3he communit" ill continue to send their children to school ithout sellin/ their ancestral lands and not lea1in/ their children to see- emplo"ment in the loland of a1ite. 3he 2epartment of A/riculture ill also !enefit from this stud" since the coffee industr" in the countr" is no d"in/ and hopefull" the" can introduce these inno1ati1e coffee products to :ilipino farmers. &nironmental 'easibility "tudy

Since 3a/a"ta" !elon/s to the upland localit" of a1ite, coffee plantation ill !oost more clean and fresh air to the cit". It ill also help to minimie the consumption of the communit" to artificials"nthetic fertiliers !" the ne or/anic fertilisers contain coffee>!ean s-ins andor /roundnut s-ins.

nd


!a"e %#

Financial Aspect nd


!a"e %$

FINANCIAL O.)ECTI9ES

+ur :inancial o!ecti1es are as follos    

Achie1e 4+I ithin to to three "ears Achie1e Maintain a stead" profit in the "rs time Maintain K sa1in/s from profit each 9uarter as a safet" net Monitor profit and losses 9uarterl"

FINANCIAL ASSUMPTIONS BSOLE PROPRIETORSHIP

nd


!a"e %%

FINANCIAL O.)ECTI9ES

+ur :inancial o!ecti1es are as follos#    

Achie1e 4+I ithin to to three "ears Achie1e Maintain a stead" profit in the "rs time Maintain K sa1in/s from profit each 9uarter as a safet" net Monitor profit and losses 9uarterl"

P r' $ c t s

Ye3 ar

afeumupca-e

',J00

afeumPanca-e afeum$ell":rappe

,F00 ',%00

FINANCIAL ASSUMPTIONS BSOLE PROPRIETORSHIP

nd


!a"e %6

&. 3he !usiness name is afeum A romatico solel" oned !" $oann a Marie A!lan ith an in1esti n/ total of Php00,0 00.00 orth of capital. %. Product sellin/ price is as follos # Cafeum Cupcake ( Php)*+** each sering Cafeum Pancake ( Php,*+** per serings -. pcs+ Pancake/ Cafeum 0elly 'rappe ( Php12+** per sering P r' $ c t s

Ye3 ar

afeumupca-e

',J00

afeumPanca-e afeum$ell":rappe

,F00 ',%00

3his sellin/ price

remainsconstantfrom"ear

one (&) to four () and increase of &0K on the sellin/ price on the  th "ear. . Sales 1olume for "ear one (&) as stated !elo# Sales 1olume ill increases !" K in the second "ear, 0K on the  rd "ear, K on  th "ear and %K on the  th "ear. . Product cost ill increase !" &0 K on the  th "ear. . Permit and licenses increase !" %K a "ear. 6. 3otal supplies ill increase !" %0K a "ear, o f hich, %0K ill !e on hand each "ear . '. Supplies e5penses increases !" %K in the % nd < rd "ear, K in th "ear < 'K in the th "ear. F. 4ental e5penses remain constant for the ne5t  "ears. J. 2eli1er" e5penses ill decrease !" K per "ear. &0. Ctilities e5penses ill increase !" K in % nd "ear, on K < K on the  th <  th "ear. 0K of hich is considered 1aria!le and 60K fi5ed. &&. Salar" contri!utions for 2ecem!er ill !e remitted on the folloin/ month. &%. Mar-etin/ e5penses ill increase !" %0K in the %nd "ear and rd "ear, &0K in  th "ear and &0K on the  th "ear. &. 89uipment e5penses ill increase !" &0K per "ear.

nd


!a"e %

&. Income ta5 rate star tin/ %0&' is 0K. &. 4e/ulator" contri!utions for 2ecem!er ill !e remitted on the folloin/ month. &6. 3otal production cost per ser1in/s is assumed to increase !" %K in th "ear. &'. 4a materials purchases are estimated to !e &0&K of the total ra materials needed for production per "ear. &F. :inished Goods 8ndin/ in1entor" is !ud/eted at appro5imatel" K of each "earHs e5pected sales. &J. ;uarterl" Income 3a5 is paid, e5cept for the last 9uarter hich ill !e paid in the folloin/ "ear. &. 2epreciation method used is the strai/ht>line method and the estimated life of e9uipment is "ears. &F. 8A3 &%K and is paid e1er" month e5cept for 2ecem!er A3 hich ill !e paid the folloin/ "ear. All purchases and sales are A3 inclusi1e. &J. A3 pa"a!le ill !e assumed to increase !" &0K per "ear. %0. A safet" net of FK per annum as secured to income after ta5 < deposited to the !an-. FINANCIAL ASSUMPTIONS BPARTNERSHIP

&. 3he !usiness is a form of  partn ers under the same name of afeum Aromatico namel" #  $oanna Marie A!lan  8duardo Arana $r.  o1el"n L. iso>an 8ach partner a/rees to contri!ute an amount of Php00, 000.00 to e9ual on the initial in1estment of $oanna Marie A!lan hich is Php00, 000.00 %. Sellin/ price of the three () pr oducts remains constant for the ne5t fi1e () "ears of op erations.

nd


!a"e %&

Cafeum Cupcake ( Php))+** each sering Cafeum Pancake ( Php,,+** per serings -. pcs+ Pancake/ Cafeum 0elly 'rappe ( Php3*,+2* per sering

. Sales 1olume on the si5 (6) "ear s increase !" %0K folloin/ the pre1ious "ear. Increase !" K on the ' th to &0th "ear of its operations. . Product cost remains constant for the ne5t fi1e () " ears of operation under partnership. . Permit and licenses increase !" &K a "ear. 6. 3otal supplies ill increase !" %0K a "ear, of hic h, %0K ill !e on hand each "ear . Supplies e5penses increases !" &0K each "ear '. 4ental e5penses remain constant for the ne5t  "ears. F. 2eli1er" e5penses ill increase !" K per "ear. J. Ctilities e5penses ill increase !" K in ' nd "ear, and K on the "ear after , 0K of hich is conside red 1aria!le and 60K &0. fi5ed. Salar" contri!utions for 2ecem!er ill !e remitted on the folloin/ month, ith an increase of &0K per "ear. &&. Mar-etin/ e5penses ill increase !" %K for the 6th "ear and decrease !" K each "ear folloin/ the operations. &%. 89uipment e5penses ill increase !" &0K per "ear. &. Income ta5 rate star tin/ %0%% is 0K. &. 4e/ulator" contri!utions for 2ecem!er ill !e remitted on the folloin/ month. &. 3otal production cost per ser1in/s is assumed to remain constant. &6. 4a materials purchases are estimated to !e &0&K of the total ra materials needed for production per "ear. &'. :inish Good in1entor" =endin/ in1entor" is &K of the proected sales 1olume. &F. ;uarterl" Income 3a5 is paid, e5cept for the last 9uarter hich ill !e paid in the folloin/ "ear. 3here ill !e a K increase each "ear. &J. 2epreciation method used is the strai/ht>line method and the estimated life of e9uipment is "ears. %0. 8A3 &%K and is paid e1er" month e5cept for 2ecem!er A3 hich ill !e paid the folloin/ "ear. All purchases and sales are A3 inclusi1e. %&. A3 pa"a!le ill !e assumed to increase !" &0K per "ear. %%. Partners a/ree to ha1e an e9ual sharin/ on the profit (refer to the Partnership A/reement).

nd


!a"e %'

FINANCIAL ASSUMPTIONS BCORPORATION

&. 3he !usiness is a corporation it h  incorporators in1estin/ a total of P,000,000 ort h of capital. %. Sellin/ price remain constan t per "ear. Sales in 1olume il l increase !" &0K per "ear. :or the firs t "ear, it is assumed that onl" F0K of normal capacit" ill !e sold at a sellin/ price of the product. . Ctilities e5pense ill increase !" &0K per "ear . 0K of hich is considered 1aria!le and 60K fi5ed. . 3otal production cost per !o5 is assumed to increase !" K a "ear. . 3otal supplies ill increase !" %0K a "ear, o f hich, %0K ill !e on hand each "ear . 6. Supplies e5pense ill increase !" &0K a "ear. '. :inished Goods 8ndin/ in1entor" is !ud/eted at appro5imatel" K of each "ear Hs e5pected sales. F. Salaries ill increase !" K a "ear. J. Salar" contri!utions for 2ecem!er ill !e remitted on the folloin/ month. &0. Permit and licenses increase !" %K a "ear. &&. Income ta5 rate star tin/ %00J is 0K. &%. 4a materials purchases is estimated to !e &0&K of the total ra materials needed for production per "ear.

nd


!a"e 60

&. ;uarterl" Income 3a5 is paid, e5cept for the last 9uarter hich ill !e paid in the folloin/ "ear. 73> compensation pa"a!le is assumed to !e FK of the 2ecem!er salaries. 3his ill increase !" K per "ear. &. Mar-etin/ e5penses ill !e the same for the first to "ears and ill decrease !" &K for the succeedin/ "ears. &. 2epreciation method used is the strai/ht>line method &6. 4epairs and maintenance e5pense is assumed to !e P&0,000 on the first "ear and it ill increase !" &0K on %0&& and %0&%, and &K for %0& and for %0&. &'. 4ent e5pense is fi5ed at PF0,000 a month for the ne5t  "ears. &F. 8A3 is paid e1er" month e5cept for 2ecem!er A3 hich ill !e paid the folloin/ "ear. All purchases and sales are A3 e5clusi1e. &J. A3 pa"a!le ill !e assumed to increase !" &0K per "ear. %0. 2eli1er" e5pense is assumed to increase !" &0K per "ear. %0. 2i1idends per share ill !e distri!uted as follos# %0%'=0

%00=P0

%0%F=P%0

%0&=P

%0%J = P%

nd


!a"e 61

nd


!a"e 62

Attac="ents

nd


!a"e 6#

CAFEUM AROMATICO PARTNERSHIP AGREEMENT

Ms. $oanna Marie A!lan and Mr. 8dmond Arana and Ms. o1el"n iso>an

nd


!a"e 6$

8ffecti1e a )an$ar! 43( 5455

nd


!a"e 6%

P4%#N&%"HIP

45%&&M&N#

#HI" P4%#N&%"HIP 45%&&M&N# effetive as of the

stday of ,anuary.

/*//0 $&&N7 Cafeum4romatico. inorporated under the la"s of %epublic of the Philippines0

(hereinafter 1Ms+ 0oanna Marie 4blan2) 3- 456 -&R74 PAR4. 8 and 8

Mr 8dmond Aranaan,hereinafter +: 38 S8+2 PA43.

>HEREAS Ms. $oanna

Marie A!lan, Mr. 8dmond Arana and Ms. o1el"n L. iso>an

entered into the Partnership (as defined herein) effecti1e as of $anuar" 0&, %0%% on the terms and conditions hereinafter set forthR AND >HEREAS

from and fol loin/ Ca&$e" Ar'"atic', the Partnership ac9uired

certain assets re9uired !" it to carr" on its !usinessR

:easi!ilit" Stud" %nd 3erm %0&6>%0&' # afeum Aromatico ? 3e Amo offee@ 66

NO> THEREFORE THIS AGREEMENT >ITNESSETH

that in consideration of

the premises and the mutual co1enants, a/reements and conditions herein contained, it is here!" co1enanted, a/reed and declared !" and amon/ the Partners (as defined herein) as follos#

ARTICLE 3  INTRODUCTION

3*3

De&initi'ns*

In this A/reement (as defined herein), unless there is somethin/ in the su!ect matter or conte5t inconsistent thereith, the folloin/ terms shall ha1e the respecti1e meanin/s ascri!ed !elo# (a)

?Acc'$ntant@ means such firm of accountant as the Partner Ms. o1el"n L. iso>an ma" from time to time !e the accountant of the Partnership (as defined herein)R

(!)

?Agree"ent@, ?t=is Agree"ent@, ?=eret'@, ?=erein@, ?=ere#!@, ?=ere$ner@ and similar e5pressions refer to this A/reement and not to an" particular Article, Section or other portion hereof, and include an" and e1er" instrument supplemental or ancillar" to or in implement hereofR

(c)

?.$siness@ means an" !usiness or !usinesses carried on !" the Partnership as ma" !e deemed !" the Partners to !e in the !est interest of the Partnership and an" other /eneral !usiness acti1ities related or incidental theretoR

(d)

?E&&ecti-e Date@ means $anuar" 0&, %0%%R

(e)

?Calenar Year@ means $anuar" 0& to 2ecem!er &R

:easi!ilit" Stud" %nd 3erm %0&6>%0&' # afeum Aromatico ? 3e Amo offee@ 6

(f)

?Partner@ means an" one of Ms. $oanna Marie A!lan, or Mr. 8dmond Arana< Ms. o1el"n iso>an or an" other partner admit ted pursuant to the pro1isions of this A/reement, ?Partners@ means all of them, and the ? Partners=ip@ means the partnership esta!lished !" this A/reementR and

(/)

?Pers'n@ means an" indi1idual, firm, corporation, partnership, oint 1enture, trustee or trust, /o1ernment or a/enc" thereof, unincorporated association, or other entit" and pronouns ha1e a similarl" e5tended meanin/.

3*5

N$"#er a n G ener*

7ords importin/ the sin/ular include the plural and vie versa and ords importin/ /ender include all /enders. 3*

G'-erning Legislati'n*

85cept as e5pressl" stipulated in this A/reement to the contrar", the ri/hts and o!li/ations of the Partners and the administration and termination of the Partnership shall !e /o1erned !" the Partnership At (+ntario)(the ?Act@) or an" successor le/islation or other statute hich ma" !e passed to ta-e the place of the Act or to amend same. ARTICLE 5  FORMATION OF PARTNERSHIP

5*3

Esta#lis="ent*

Su!ect to the terms and conditions hereof, the parties hereto a/ree to carr" on the Business in partnership.

:easi!ilit" Stud" %nd 3erm %0&6>%0&' # afeum Aromatico ? 3e Amo offee@ 6&

5*5

Ter"*

Su!ect to the pro1isions of this A/reement, the Partnership shall commence as of the 8ffecti1e 2ate and shall continue for a term endin/ on the earlier of# (a)

the date on hich the Partnership is 1oluntaril" dissol1ed !" unanimous a/reement of the PartnersR or

(!) 5*

the date on hich the Partnership is dissol1ed !" operation of la.

Na"e*

3he name of the Partnership shall !e ? Ca&e$" Ar'"atic'@ andor such other name or names as the Partners ma" from time to time a/ree upon in ritin/ and no part" shall carr" on !usiness under such name e5cept as a Partner of the Partnership. 5*6

Place '& .$siness*

3he place of !usiness of the Partnership shall !e at such place or places as the Partners shall from time to time hereafter determine. 5*0

Ne< Partners*

o person shall !e admitted as a Partner e5cept ith the unanimous consent in ritin/ of the Partners. ARTICLE   FINANCIAL MATTERS

*3

Capital C'ntri#$ti'ns an Financing Re@$ire"ents*

3he initial capital of the Partnership shall !e# :easi!ilit" Stud" %nd 3erm %0&6>%0&' # afeum Aromatico ? 3e Amo offee@ 6'

(a)

:or Mr. 8dmond Arana P 00,000.00, Ms. o1el"n L iso>an P00,000.00 and the amount of P 00,00 0.00 !ein/ the capi tal contri!ution made !" Ms. $oanna Marie A!lan to the Partnership on 2ecem!er 0&, %0%&R and 3he initial capital so contri!uted !" each of the Partners is credited to the capital

account (? Capital Acc'$nt@) of each Partner. 3he folloin/ pro1isions of this Section .& shall appl" in respect of the capital contri!utions of the Partners# (!)

the capital funds of the Partnership shall !elon/ to the Partners in the proportion contri!uted !" each PartnerR

(c)

an" further contri!ution of ca pital re9uired !" the Partnership ma" !e contri!uted to the Partnership !" an" one or !oth of the Partners ithout limitation as to the amount of such further capital contri!ution and an" such additional capital contri!ution shall !e treated in the same manner as the initial capital contri!utions a!o1e set outR and

(d)

no Partner shall !e entitled to interest on the amount of its capital contri!ution to the Partnership.

*5

Pr'&its an L'sses*

In each alendar ear all items of income and /ain, and e5pense and loss of the Partnership shall !e determined !" the Accountants of the Partnership at the end of each alendar ear.

:easi!ilit" Stud" %nd 3erm %0&6>%0&' # afeum Aromatico ? 3e Amo offee@ 0

*

Net Pr'&its an L'sses*

Cntil otherise unanimousl" a/reed !" the Partners, and su!ect to the pro1isions of this A/reement, the net profits, if an", of the Partnership as determined at the end of each such alendar ear shall !e allocated amon/ the Partners in proportion to the respecti1e apital Account of each of the Partners as calculated at the end of each such alendar ear. All e5penses incurred in the course of the Business and all losses, if an", arisin/ therefrom shall !e !orne out of the earnin/s of the Business, or in the case of a deficienc", the losses shall !e allocated amon/st the Partners pro rata to their respecti1e indi1idual apital Accounts at the end of each such alendar ear. *6

Dra
8ach of the Partners ma" dra out of the Partnership, from time to time, on account of its share of the net profits for the current "ear, a sum not e5ceedin/ their respecti1e apital Accounts. An" sums dran out !" an" Partner in e5cess of its share of the net profits for an" such "ear shall !e repaid in full to the Partnership unless otherise unanimousl" a/reed !" the Partners. *0

Financial State"ents*

Proper accounts shall !e -ept of all transactions of the Business and at the end of each :iscal ear or as soon thereafter as possi!le, a statement shall !e prepared shoin/ the income and e5penses of the Business for the past "ear and hat !elon/s and is due to each of the Partners as its share of the profits.


*8

.'rr'
either Partner shall, ithout the pre1ious consent in ritin/ of the other, si/n or encum!er its share or interest in the Partnership, !orro mone" on !ehalf of the Business or, hire an" emplo"ee or su!contractor. *:

Pa!"ent '& O#ligati'ns*

8ach of the Partners shall punctuall" pa" and dischar/e its separate de!ts, lia!ilities, o!li/ations, duties and a/reements hether at present or future and -eep indemnified the Partnership propert" and the other Partner from all actions, proceedin/s, costs, claims and demands of e1er" nature. *

Ine"ni&icati'n*

If at an" time either of the Partners is re9uired to pa" or !ecome lia!le for more than its proportion of the Partnership de!ts as pro1ided for in this A/reement, that Partner shall ha1e as a/ainst the other Partner a ri/ht of reco1er" of the appropriate proportion of the pa"ment or indemnification a/ainst such lia!ilit", and the Partner shall ha1e, on !ecomin/ lia!le for such de!t, the first lien or char/e on the capital and all other interest or interests of the offendin/ Partner in the Partnership !usiness. ARTICLE 6  MANAGEMENT

6*3

Manage"ent*

:inal authorit", mana/ement and control of the !usiness and affairs of the Partnership shall !e 1ested in the Partners. :easi!ilit" Stud" %nd 3erm %0&6>%0&' # afeum Aromatico ? 3e Amo offee@ 2

6*5

Acti'n '& t=e Partners*

3he poers of the Partners ma" !e e5ercised !" resolution passed at a meetin/ of the Partners or !" resolution consented to !" the si/natures of the Partners. 6*

Delegati'n ' & A$t='rit!*

3he Partners ma" at an" time and from time to time !" resolution passed at a meetin/ of the Partners dele/ate an" poer or authorit" relatin/ to the mana/ement of the !usiness and affairs of the Partnership to an" Partner and the e5ercise of an" such authorit" or authorit" !" such Partner shall !e 1alid and !indin/ upon all Partners until such poer or authorit" has !een rescinded !" resolution. 6*6

Place '& Meeting*

Meetin/s of the Partners shall !e held at the principal office of the Partnership, or, at such other place as the Partners ma", !" unanimous a/reement, determine. 6*0

Calling '& Meetings*

Meetin/s of the Partners shall !e held from time to time at such time and on such da" ithout notice as an" Partner ma" determine. 6*8

P'
8ach Partner /rants to the other Partner for such time as he remains a Partner to this A/reement, an irre1oca!le poer of attorne" for the purposes of filin/ an" notices or re/istrations as ma" !e re9uired !" la in connection ith the e5istence or carr"in/ on of the !usiness of the Partnership. :easi!ilit" Stud" %nd 3erm %0&6>%0&' # afeum Aromatico ? 3e Amo offee@ #

6*:

Calenar Year*

Cntil chan/ed ith the unanimous appro1al of the Partners, the alendar ear shall !e the alendar "ear of the Partnership. 6*

.anking Arrange"ents*

3he Partners a/ree that the Partnership shall enter into !an-in/ arran/ements ith Banco 2e +ro Cni!an- (B2+) !an- as the Partners shall a/ree on. All che9ues, drafts and other instrumen ts and documents on !ehalf of the Partnership ma" !e si/ned !" an" one of the Partners alone, unless otherise a/reed !eteen the parties. All Partnership mone" shall, hen recei1ed from time to time, !e paid and deposited ith the !an-ers of the Partnership to the credit of the Partnership account. 6*1

.''ks an Rec'rs*

omplete and accurate !oo-s of account shall !e -ept at the principal place of !usiness of the Partnership and shall sho the condition of the !usiness and finances of the Partnership, and each Partner shall ha1e access to, and ma" inspect and cop", an" part thereof. 6*34

Partners=ip Pr'pert!*

Cnless otherise unanimousl" a/reed !" the Partners or unless re/istered in the name of a trustee, all Partnership propert" shall !e re/istered in the name of the Partnership in proportion to the apital Account of each Partner.

:easi!ilit" Stud" %nd 3erm %0&6>%0&' # afeum Aromatico ? 3e Amo offee@ $

ARTICLE 0  DETERMINATION OF PARTNERSHIP

0*3

General*

85cept as e5pressl" permitted in this Article , or as otherise unanimousl" a/reed to in ritin/ !" the Partners, no Partner ma" sell, assi/n, con1e", transfer, mort/a/e, char/e or otherise encum!er all or an" part of its share or interest in the Partnership. 0*5

Diss'l$ti'n*

3he Partnership shall !e dissol1ed at an" time !" unanimous resolution of the Partners passed at a meetin/ of the Partners called for that purpose. 3he Partnership ma" also !e terminated !" unanimous a/reement in ritin/ si/ned !" all of the Partners. 0*

Deter"inati'n*

In the e1ent of the dissolution of the Partnership, the Partnership shall terminate and a proper accountin/ shall !e made of the capital and income accounts of each Partner and the profit or losses of the Partnership to the date of dissolution !" the Accountants. 3he assets of the Partnership shall !e li9uidated and the proceeds of such li9uidation shall then !e distri!uted as follos, unless the Partners otherise unanimousl" a/ree# (a)

firstl", to rep a" all cos ts, de!ts, e5p enses, lia !ilities and o!l i/ations of the PartnershipR

(!)

secondl", to pa" to each Partner its share of the capitalR and

:easi!ilit" Stud" %nd 3erm %0&6>%0&' # afeum Aromatico ? 3e Amo offee@ %

(c)

thirdl", to di1ide the surplus, if an", !eteen the Pa rtners in the proportions in hich the" are entitled to share in profits.

In the e1ent that such li9uidation proceeds shall not !e sufficient to satisf" the lia!ilities of the Partnership, each of the Partners shall contri!ute its pro rata share, as determined in accordance ith their indi1idual apital Accounts of the Partnership, of such further funds as shall !e necessar" to satisf" in full, the lia!ilities of the Partnership. 0*6

Agree"ents
In the e1ent that an" Partner (in this Section . called the ?

Trans&er'r@),

pursuant to the terms and conditions hereof, purports to transfer all, !ut not less than all, of its interest or share in the Partnership to an" Person (such Person in this Section . called the ? Trans&eree@), then no such transfer shall !e made or shall !e effecti1e until the 3ransferee enters into an a/reement ith the other Partner hereto here!" the 3ransferee a/rees to assume and !e !ound !" all of the o!li/ations of the 3ransferor and to !e su!ect to all of the terms and conditions of this A/reement. 0*0

Restraining Orer*

In the e1ent that an" Partner shall at an" time purport to transfer, char/e or mort/a/e its interest or share or an" part thereof in the Partnership in 1iolation of the pro1isions of this A/reement, then the other Partner shall, in addition to an" ri/hts and remedies hich ma" !e a1aila!le to such Partner, at la or in e9uit", !e entitled to a decree or order restrainin/ or enoinin/ such transfer, char/e or mort/a/e.


ARTICLE 8  GENERAL

8*3

Heaings*

3he headin/s of an" Article, Section or part thereof are inserted for purposes of con1enience onl" and shall not form part hereof and shall not !e considered in the interpretation hereof. 8*5

N'tices*

An" notice, demand, re9uest, consent, a/reement or appro1al hich ma" or is re9uired to !e /i1en pursuant to this A/reement shall !e in ritin/ and shall !e sufficientl" /i1en or made if ser1ed personall" upon the part" or a representati1e or officer of the part" for hom it is intended, or mailed !" certified or re/istered mail, posta/e prepaid, or tele5ed, tele/raphed, or telecopied, addressed at such address to such officers as a part" ma" from time to time ad1ise to the other parties !" notice in ritin/. 3he date of receipt of an" such notice, demand, re9uest , consent, a/reement or appro1al if ser1ed personall" shall !e deemed to !e the date of deli1er" thereof, or if mailed as aforesaid, the second !usiness da" folloin/ the date of mailin/, or if deli1ered 1ia tele5, tele/raph, or telecopier, the !usiness da" folloin/ transmission. 8*

G'-erning La<*

3he 1alidit" and interpretation of this A/reement shall !e /o1erned e5clusi1el" !" the las of the 4epu!lic of the Philippines as applica!le therein.

:easi!ilit" Stud" %nd 3erm %0&6>%0&' # afeum Aromatico ? 3e Amo offee@ 

8*6

Se-era#ilit!*

3he in1alidit" or unenforcea!ilit" of an" particular pro1ision of this A/reement shall not affect an" other pro1ision hereof, !ut this A/reement shall !e construed and enforced as if such in1alid or unenforcea!le pro1ision as omitted. 8*0

E&&ecti-e Date*

otithstandin/ the actual date of e5ecution hereof, this A/reement shall !e effecti1e as of and from the 8ffecti1e 2ate. 8*8

Entire A gree"ent*

3his A/reement em!odies the entire and final a/reement of the Partners ith re/ard to the Partnership and no representations, arranties, a/reements, understandin/s, 1er!al or otherise, e5ist !eteen the Partners e5cept as herein e5pressl" set out. 8*:

A"en"ents*

o amendment, alteration, chan/e, 9ualification or modification of this A/reement shall !e 1alid unless it is in ritin/ and si/ned !" each Partner hereto and an" such amendment, alteration, chan/e, 9ualification or modification shall !e adhered to and ha1e the same effect as if the" had !een ori/inall" em!odied in and formed a part of this A/reement. 8*

Ti"e*

3ime is of the essence of this A/reement and of e1er" part hereof.

:easi!ilit" Stud" %nd 3erm %0&6>%0&' # afeum Aromatico ? 3e Amo offee@ &

8*1

F$rt=er Ass$rances*

3he Partners hereto, and each of them, co1enant and a/ree that each of them shall and ill, upon reasona!le re9uest of the other Partners, ma-e, do, e5ecute or cause to !e made, done or e5ecuted all such further and other laful acts, deeds, thin/s, de1ices and assurances hatsoe1er for the !etter or more perfect and a!solute performance of the terms and conditions of this A/reement. 8*34

En$re"ent*

3his A/reement and the pro1isions hereof shall enure to the !enefit of and shall !e !indin/ upon the parties hereto and their respecti1e successors and permitted assi/ns. 8*33

C'$nterparts*

3his A/reement ma" !e e5ecuted in counterparts, each of hich shall !e deemed to !e an ori/inal and all of hich ta-en to/ether shall constitute one and the same a/reement.

THE REMAINDER OF THIS PAGE HAS INTENTIONALLY .EEN LEFT .LAN2

:easi!ilit" Stud" %nd 3erm %0&6>%0&' # afeum Aromatico ? 3e Amo offee@ '

IN >ITNESS >HEREOF

the parties hereto ha1e dul" e5ecuted this

A/reement this da" of , to !e effecti1e as of the 8ffecti1e 2ate in accordance ith Section 6. of this A/reement.



Per# ame# 3itle# Per# ame# 3itle#



Per# ame# Per#

3itle# ame# 3itle#

A43IL8S +: I+4P+4A3I+ A2 B>LA7S = + S3+E +4P+4A3I+

Articles of Incorporation

+f :easi!ilit" Stud" %nd 3erm %0&6>%0&' # afeum Aromatico ? 3e Amo offee@ &0

CAFEUM AROMATICO

(ame of the orporation)

E+7 ALL M8 B 38S8 P48S83S#

3he undersi/ned incorporators, all of le/al a/e and maorit" of hom are residents of the Philippines, ha1e this da" 1oluntaril" a/reed to form a non>stoc- corporation under the las of the 4epu!lic of the PhilippinesR

A2 78 848B843I:# :easi!ilit" Stud" %nd 3erm %0&6>%0&' # afeum Aromatico ? 3e Amo offee@ &1

:I4S3# 3hat the name of said corporation shall !e afeumAromaticoR

S8+2# 3hat the purposes for hich such corporation are incorporated#

P4IMA4 PC4P+S8

3o en/a/e in a !usiness in pastries usin/ coffee as the main ra material for the products such as coffee drin- ith coffee ell", coffee cupca-e, coffee panca-e and other product inno1ation in the future either domestic or forei/nR

S8+2A4 PC4P+S8

3o promote the local coffee !ean of 3a/a"ta" to in1estors in order to /enerate emplo"ment for a1iteos.

Proided that the corporation shall not solicit8 accept or take inestments9placements from the public neither shall it issue inestment contracts+

:easi!ilit" Stud" %nd 3erm %0&6>%0&' # afeum Aromatico ? 3e Amo offee@ &2

3I42# 3hat the principal office of the corporation is located in 3a/a"ta" it", PhilippinesR

:+C43# 3hat the term for hich said corporation is to e5ist is 0 "ears from and after the date of issuance of the certificate of incorporationR

:I:3# 3hat the names, nationalities and residences of the incorporators are as follos#

AM8

A3I+ALI3

A!lan,$oanna

:ilipino

Manila,Philippines

Arana,8dmond

:ilipino

Manila,Philippines

iso>an,o1el"n

:ilipino

Manila,Philippines

La/undino,LeoMar-

:ilipino

Manila,Philippines

:easi!ilit" Stud" %nd 3erm %0&6>%0&' # afeum Aromatico ? 3e Amo offee@ &#

48SI288

SIO3# 3hat the num!er of trustees of the corporation shall !e four ()R and the names, nationalities and residences of the first trustees of the corporation are as follos#

AM8

A3I+ALI3

48SI288

A!lan,$oanna

:ilipino

Manila,Philippines

Arana,8dmond

:ilipino

Manila,Philippines

iso>an,o1el"n

:ilipino

Manila,Philippines

La/undino,LeoMar-

:ilipino

Manila,Philippines

S883# 3hat the total contri!ution of the corporations is PP00, 000.00

8IG3# 3hat iso>an, o1el"n has !een elected !" the mem!e rs as 3reasurer of the corporation to act as such until his successor is dul" elected and 9ualified in accordance ith the !">las, and that as such 3reasurer, he has !een authoried to recei1e for and in the name and for the !enefit of the corporation, all contri!utions or donations paid or /i1en !" the mem!ers.

I3# 3hat no part of its income is distri!uta!le as di1idends to its mem!ers, trustees or officers su!ect to the pro1isions of the orporation ode of the Philippines on dissolution. Pro1ided, 3hat an" profit o!tained !" the association as an incident to its operation shall, :easi!ilit" Stud" %nd 3erm %0&6>%0&' # afeum Aromatico ? 3e Amo offee@ &$

hene1er necessar" or proper shall !e used for the furtherance of the purposes enumerated in Article II, su!ect to the pro1ision of 3itle OI of the orporation ode of the Philippines.

383# 3hat the incorporators and trustees underta-e to chan/e the name of the corporation as herein pro1ided, or as amended thereafter, imm ediatel" upon receipt of notice or directi1e from the Securities and 85chan/e ommission that another corporation, partnership or person has ac9uired a prior ri/ht to the use of that name or that the name has !een declared as misleadin/, decepti1e, confusin/l" similar to a re/istered name or contrar" to pu!lic morals, /ood custom or pu!lic polic".

I 7I38SS 7848+:, e ha1e hereunto si/ned these Articles of Incorporation, this &Jth da" of $anuar" %0&', in the it"Municipalit" of 3a/a"ta", Pro1ince of a1ite, 4epu!lic of the Philippines.

A!lan,$oanna

Arana,8dmond

3I>6>''>&%

3I>F>6>'FJ

iso>an,o1el"n

La/undino,LeoMar-

3I>%>6'F>6'

3I>'>'6>&

:easi!ilit" Stud" %nd 3erm %0&6>%0&' # afeum Aromatico ? 3e Amo offee@ &%

AE+7L82G8M83

48PCBLI +: 38 PILIPPI8S T I3+:3AGA3A

T S.S.

B8:+48 M8, a otar" Pu!lic, for and in 3a/a"ta", Philippines, this &J th da" of $anuar" &J, %0&', personall" appeared the folloin/ persons#

:easi!ilit" Stud" %nd 3erm %0&6>%0&' # afeum Aromatico ? 3e Amo offee@ &6

A!lan,$oanna

Arana,8dmond

3I>6>''>&%

3I>F>6>'FJ

iso>an,o1el"n

La/undino,LeoMar-

3I>%>6'F>6'

3I>'>'6>&

-non to me and to me -non to !e the same persons ho e5ecuted the fore/oin/ Articles of Incorporation constitutin/ of four () pa/es, includin/ this pa/e here the ac-noled/ement is ritten, and the" ac-noled/ed to me that the same is their free act and 1oluntar" deed.

7I38SS M A2 A2 S8AL on the da" first a!o1e>ritten.

+3A4 PCBLI

Att". Marcos 2e La 4osa $uan

:easi!ilit" Stud" %nd 3erm %0&6>%0&' # afeum Aromatico ? 3e Amo offee@ &

2oc. o. &% Pa/e o. '6 Boo- o. % Series of %0&

B =LA7S

+:

CAFEUM AROMATICO

(ame of the orporation)

I. 38 3IM8, PLA8 A2 MA84 +: ALLIG A2 +2C3IG 48GCLA4 +4 SP8IAL M883IGS +: 38 34CS388S. :easi!ilit" Stud" %nd 3erm %0&6>%0&' # afeum Aromatico ? 3e Amo offee@ &&

a) 4e/ular meetin/s of the !oard of truste es of the corporation shall !e held mont hl", unless the !">las pro1ide otherise. !) Special meetin/s of the !oard of trustees ma" !e held at an" time upon the call of the president or as pro1ided in the !">las c) Meetin/s of trustees ma" !e held an"here in or outside of the Philippines, unless the !">las pro1ide otherise. otice of re/ular or special meetin/s statin/ the date, time and place of the meetin/ must !e sent to e1er" trustee or trustee at least one (&) da" prior to the scheduled meetin/, unless otherise pro1ided !" the !">las. A trustee ma" ai1e this re9uirement, either e5pressl" or impliedl".

II. 38 3IM8 A2 MA 84 +: ALLIG A2 +2C3IG 48GCLA4 +4 SP8IAL M883IGS +: 38 M8MB84S.

a) 4e/ular or annual meetin/s of mem!ers shall !e held annuall" on :e!ruar" &%. !) 7ritten notice of re/ular meetin/s shall !e sent to all mem!ers of record at least to (%) ee-s prior to the meetin/, unless a different period is re9uired !" the !">las. c) Special meetin/s of mem!ers sha ll !e held at an" time deemed nece ssar" or as pro1ided in the !">las. d) 7ritten notice of special meetin/s shall !e sent to all mem!ers at least one ee- prior to the meetin/, unless a different period is re9uired !" the !">las. e) Mem!ersQ me etin/s, hether re/ular or special, shall !e held in the cit" or municipalit" here the principal office of the corporation is located, and if practica!le

:easi!ilit" Stud" %nd 3erm %0&6>%0&' # afeum Aromatico ? 3e Amo offee@ &'

in the principal office of the corporation. Metro Manila shall, for the purpose of this pro1ision, !e considered cit" or municipalit". III. 38 48;CI482 ;C+4CM I M883IGS +: M8MB8 4S

a) 3he re9uired 9uorum in meetin/s of mem!ers shall consist of the mem!ers representin/ a maorit" of the entire mem!ership. I. 38 :+4M :+4 P4+OI8S +: M8MB84S A2 38 MA84 +: +3IG 38M a) Mem!ers ma" 1o te in perso n or !" pro5" in all meetin/s of mem!er s. Pro5ies shall !e in ritin/, si/ned !" the mem!er and filed !efore the scheduled meetin/ ith the corporate secretar". Cnless otherise pro1ided in the pro5", it shall !e 1alid onl" for the meetin/ for hich it is intended. o pro5" shall !e 1alid and effecti1e for a period lon/er than fi1e () "ears at an" one time.

. 38 ;CALI:IA3I+S, 2C3I8S, 384M A2 +MP8SA3I+ +: 34CS388S

a) o person con1icted !" final ud/ment of an offense punisha!le !" imprisonment for a period e5ceedin/ si5 (6) "ears, or a 1iolation of this ode, committed ithin fi1e () "ears prior to the date of his election shall 9ualif" as a trustee. o person shall !e elected as trustee unless he is a mem!er of the corporation. A maorit" of the trustees !e residents of theofPhilippines. !) must 3he corporate poers the corporation shall !e e5ercised, all !usiness conducted and all propert" of the corporation !e controlled and held !" the !oard of trustees to :easi!ilit" Stud" %nd 3erm %0&6>%0&' # afeum Aromatico ? 3e Amo offee@ '0

!e elected from amon/ the mem!ers, ho shall hold office for one (&) "ear and until their successors are elected and 9ualified. c) 3he trustees shall not recei1e an" compensation, as such trustees, e5cept for reasona!le per diems. An" compensation ma" !e /ranted to trustees !" the 1ote of the mem!ers representin/ at least a maorit" of the mem!ership at a re/ular or special mem!ersQ meetin/, In no case shall the total "earl" compensation of trustees, as such trustees, e5ceed ten (&0K) percent of the net income !efore income ta5 of the corporation durin/ the precedin/ "ear. I. 38 MA84 +: 8L83I+ +4 APP+I3M83, ;CALI:IA3I+ A2 38 384M +: +::I8 +: ALL +::I84S +384 3A 34CS388S a) Immediatel" after their election, the trustees of a corporation must formall" or/anie !" the election of a P48SI283, ho shall !e a trustee, a 348ASC484 ho ma" or ma" not !e a trustee, a S8483A4 ho shall !e a resident and citien of the Philippines, and such other officers as ma" !e pro1ided in the !">las. 3o (%) or more positions ma" !e held concurrentl" !" the same officer, hoe1er no one shall act as P48SI283 and S8483A4 or as P48SI283 and 348ASC484 at the same time. 3he officers of the corporation shall hold office for one (&) "ear and until the successors are elected and 9ualified. 3he officers of the corporation shall perform functions as re9uired !" e5istin/ las, rules and re/ulations. II.

:ISAL8A4

a) 3he fiscal "ear of the corporation shall !e/in on the first da" of $anuar" and end on the last da" of 2ecem!er of each "ear.

III. S8AL :easi!ilit" Stud" %nd 3erm %0&6>%0&' # afeum Aromatico ? 3e Amo offee@ '1

a) 3he corporate seal shall !e determined !" the Board of 3rustees.

IO. MIS8LLA8+CS P4+ISI+S

a) Matters not co1ered !" the pro1isions of these !">las shall !e /o1erned !" the pro1isions of the orporation ode of the Philippines.

I 7I38SS 7848+:, e, the undersi/ned incorporators andor mem!ers present at said meetin/ and 1otin/ thereat in fa1or of the adoption of said !">las, ha1e hereunto su!scri!ed our names this &Jth da" of $anuar" %0&' at 3a/a"ta", Philippines.

A!lan,$oanna

Arana,8dmond

3I>6>''>&%

3I>F>6>'FJ

iso>an,o1el"n

La/undino,LeoMar-

:easi!ilit" Stud" %nd 3erm %0&6>%0&' # afeum Aromatico ? 3e Amo offee@ '2

3I>%>6'F>6'

3I>'>'6>&

:easi!ilit" Stud" %nd 3erm %0&6>%0&' # afeum Aromatico ? 3e Amo offee@ '#

Rec'""enati'n

Rec'""enati'n

7e therefore conclude that ha1in/ this feasi!ilit" stud" ill definitel" promote not ust a home /ron product of 3a/a"ta" !ut definitel" ill push the a/riculture of the it". Bindin/ it to entice more eco>tourism friendl" /uests to identif" hat has !een the Dtop of the mindD or Dneest trendD. It ill ma-e not ust its competitor thin- tice !ut ma-es this feasi!ilit" stud" doa!le to the mar-et and ofcourse ith the economic profile of 3a/a"ta" it".

:easi!ilit" Stud" %nd 3erm %0&6>%0&' # afeum Aromatico ? 3e Amo offee@ '$

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