_____________________________________________________________________

BUKCET KA-SEA

A Feasibility Study

Christian Jade T. Perales

Shandey E. Mecaros
Jesra Mae E.. Lumales
Danica Jean C. Paller
Prenchie M. Dumon
Jana Jean S. Gumapac

Submitted in fulfillment of the requirements for Inquiry, Investigation, and Immersion

Ozamiz City National High School

Senior High School

City of Ozamiz

A.Y. 2022-2023

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_____________________________________________________________________

Chapter I

Introduction

Since ancient times, seafood has played a central role in the Philippine cuisine

and culture, firmly ingrained in the customs and culinary practices of its numerous

regional cultures. Filipino love seafood, and it is frequently served during festive

events, family gatherings, and regular meals in both coastal and interior districts. In

Filipino culinary, sea foods are main sources of nutrition.

The number of seafood restaurants present in Ozamiz City is only few.

Although other restaurants offer seafood dishes, only a handful of restaurants offer a

unique variety of seafood dishes. The study aims to determine if a brand-new seafood

restaurant is feasible in the city of Ozamiz.

Seafood is expected to become increasingly important in future food systems

and healthy diets. This transition will require the seafood sector to adapt business

practices to respond to environmental and social challenges while increasing

resilience (Fletcher, et al. 2021).

The seafood boil restaurant industry has witnessed remarkable growth in

recent years, reflecting the increasing demand of up to 300 percent (Google trends,

2021) for immersive dining experiences and the growing popularity of seafood as a

choice of cuisine. People from Philippines are growing curious about the dining

experience of seafood boils.

 The proprietors seek to study the market of Ozamiz city if there is a demand

for seafood boils. By determining the different factors, the proprietors can have a

concrete plan before establishing the business.

_____________________________________________________________________

CHAPPTER II

Market Study

A. Product Description

Bucket seafood has different types of sea foods that are delectable, high-

quality, and reasonably priced. It has crab, scallops, shrimp, oysters, lobster, etc. It

provides an ideal package of nutrients and health benefits as a source of high-quality

protein, vitamins, minerals, and essential amino acids. Serve as fresh boiled, and the

luxuriously deep flavor and smooth texture of our delicious cajun-style blend of

spices, tossed with one of our signature seasonings and served in a bag to preserve the

flavor, are the secrets to pure and delicious seafood.

More than full filling the cravings of seafood enthusiasts, sea foods also

provide a huge part in our lifestyle. Omega-3s, iron, B and D vitamins, and protein are

just a few of the essential components found in seafood that are necessary for health

and wellness at any age.

The opening of seafood restaurants could be the answer, or at the very least an

alleviation to Ozamiz's shortage of seafood eateries. Unlike the seafood served at

other restaurants, the seafood provided at Bucket Ka-Sea will be served in a bucket.

B. Demand

C. Supply
D. Demand and Supply Analysis

E. Price Study

The major goal of every business venture is to please its customers;

consequently, affordable pricing will be vital. The price of the product would be

determined by the cost of the ingredients used and the costs associated with the

manufacture of the seafood bucket. The researchers’ survey questionnaire was used to

determine the price of the seafood bucket. Each seafood bucket costs between 500 and

1000 pesos, as the majority of respondents are ready to pay this much for a seafood

bucket. Other products such as condiments and drinks will be sold separately with a

price range of; ₱20-₱150 for drinks, and ₱30-₱100 for condiments. Based on the

survey, the range of prices for the product will be affordable enough for the general

public.This is based on the study findings, but it will be adjusted based on the

country’s economic growth, the price of the minor and main ingredients in the seafood

bucket,transportation cost, and other factors that will impact the product’s pricing.

Any change in the price of the seafood bucket will be considered as a factor in

determining the consumers’ ability to acquire the product.

F. Factors Affecting the Market

The elements that can potentially interfere with and/or impair the operations at

Prima Aqua Refilling Station are of minimal concern. The following factors are

separated into those that can have an impact on a firm prior to and after it starts

operating.
 Here are the factors to consider prior to business operations:

1. Financial Resources

 Crustacean types of sea foods are pricey in the market and the

supply is limited. Before starting a firm, adequate financial

resources must be taken into account to support maintenance as the

business grows.

2. Location

 The location of Bucket ka-sea must be well thought of. To establish

an edge among other competitors, It must be accessible to the

target market.

3. Price

 First impressions are crucial in the business set up. Setting a price

that is appropriate for the target market and competitive with the

rival enterprises will be crucial in developing Bucket Ka-Sea's

reputation in the marketplace.

G. Marketing strategies

The target market of Bucket ka-sea will play a crucial part in the marketing

aspect of the business. The opinions seafood enthusiasts and seafood lovers will help

in establishing the business's reputation. The promotion of the business will be easier

since the building will be located near a famous destination here in Ozamiz City

which is the Prospera Park. Once satisfied with the location of the business, customers

can spread the word to other consumers. The marketing strategy primarily takes

advantage of its unique products to connect to potential customers.

H. SWOT Analysis

Strength

Location: The business is located near a famous destination here in Ozamiz City

and this will be advantageous to the business.

Service Quality: the quality of service will play a big role in alluring more

customers. Good quality service means a good quality experience for the customers.

Weaknesses

Market opinion: Since the enterprise is new to the market, customers might

not welcome the business kindly.

Opportunities

Uniqueness: no other businesses like Bucket ka-sea is present in Ozamiz City.

There are a few numbers of seafood restaurants but their foods and services are

different from Bucket ka-sea because the business mainly cooks crustacean types of

seafoods.

Threats

Uncertainty of supplies: supplies of crustacean seafoods is greatly dependent

on the available supply in the market.

Allergies: Due to the high number of people allergic to seafoods, expected

custom might be few

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CHAPTER II

Technical Study

A. Application Process

In opening the enterprise Bucket ka-sea, there are requirements in registering

the business to make it officially legal and functional. These must be complied before

the business operation starts.The following are the requirements for sole proprietors:

1. Certificate of Registration of Business Name- this can be obtained from the

Department of Trade and Industry (DTI).

2. Mayor’s Business Permit- After getting the Certificate of Registration from

DTI, the application of the business permit will be done in local municipal office.

Some requisites needed to be complied before getting the permit are the following:

3. BIR Form 0605- after filing the papers, the document must be paid. Once

done, the receipts are then printed in the printing press.

B) Service Line/Product/s Offered

The business will fall under the "food and drink" category, which is under the

hospitality industry, which is also within the broader service industry. Bucket Ka-Sea

will offer sea foods such as crabs, lobster, shrimps, oysters, clams, etc. For these are

the main components of a seafood boil. The business will offer sea foods that is

cooked by boiling with spices and corn.

 The food is cooked until the meat inside them are tender and juicy. Boiling is a

healthy way of cooking food. For people with illnesses like diarrhea, infection, and

fever, boiled food is a fantastic option. By supplying water and vital nutrients, they

aid in the treatment of infection.For people with illnesses like diarrhea, infection, and

fever, boiled food is a fantastic option. By supplying water and vital nutrients, they

aid in the treatment of infection (Dawson, 2021).Protein, which is essential for

developing and sustaining muscle, is abundant in crab. Omega-3 fatty acids, vitamin

B12, and selenium are all abundant in crab. These nutrients are essential for

enhancing overall health and preventing a number of chronic diseases (WebMD

Editorial Contributors,, 2023).

C) Production Process

Production

1. Preparation of the boil seasoning

In a bowl, combine:

⅓ cups smoked paprika ¾ cups old bay seasoning

3 tablespoons ground cayenne 2 tablespoons mustard powder

3½ tablespoons salt 2 tablespoons sugar

3 tablespoons ground black pepper 1 tablespoons coriander seeds

2. Preparation of the Cajun Butter

In a pan, melt 1 pound of unsalted butter then put;

12 cloves of minced garlic 3 tablespoons of boils seasoning

 1 tablespoon smoked paprika.

Stir until combined.

3) Boiling

Fill ¾ of a large pot with water then bring it to a boil. When it boils, put;

2 diced onions 2 garlic heads

1 tablespoons handashi Boil seasoning

Hot sauce (optional) Seafood of choice

Boil them for 12 minutes then add in 12 pieces of corns sliced in half

then let it sit for 3 minutes.

4. Preparation for Serving

Strain the food and put it Into a plastic bag. Add in the Cajun butter and 2

cups of the broth. Shake the ingredients until the Cajun butter is evenly

spread.

5. Serving

Place the food from the plastic in a metal bucket. The customers can have

the option to dump the bucket of sea foods into their table, or just take

from the bucket one by one.

D. Project Location

Bucket Ka-Sea will be located at Barangay Aguada, Ozamiz City. Specifically,

behind the PLDT main office, near the Ozamiz City Hall.

The location was chosen primarily because of its strategic economic

advantage. Since the enterprise will be built beside a national highway, travelers and

tourists can easily identify the establishment. This location is also accessible to the

public since this location is at the heart of the city.

E. Building and Facilities

Bucket a-Sea will have lot area of 2,000 square meters. 1,024 square feet of

this lot will be utilized for parking space since the standard are for one slot of parking

space is 8x16 feet and the establishment will have 8 parking slots. The building itself

will have a total area of 500 meters square.

 Inside the building, 1/5 of the building will be utilized for the kitchen and

utilities. The counter area will divide the dining area and kitchen area. A hand

washing station will be placed in between the bathrooms for men and women.

A separate room for management will be built connected to the kitchen area.

This room will be used as the office for the manager. This space will also store

important documents of the business and as well as a telephone to pick up calls from

external parties.

F. Utilities

The utilities under the Bucket Ka-Sea will be the electricity bill, telephone bill,

and LPG gas. The LPG will be the primary utility of the business since it involves a

lot of cooking. In instances when LPG gas is unavailable, electric stoves will serve as

back up. A power generator will also be purchased incases of power outage.

The telephone will be a crucial asset to the business since it helps management

connect to external parties like suppliers and investors. The official telephone number

of the business will be posted to the official social media pages and posters.

H. Production Schedule

Since the target market of the business is the general public, it will be open

from 9 am up to 8 pm. The business will operate even in holidays except for

Christmas and new year.

I. Production Cost

Table3.1: Monthly Cost of production

Ingredients Quantity Unit Cost per Kilo Total

Smoked Paprika 5 kg 455 2275

Old Bay Seasoning 5 kg 270 1350

Ground Cayenne 3 kg 440 1320

Salt 10 kg 50 500

Mustard Powder 5 kg 260 1300

Sugar 5 kg 100 500

Ground Black Pepper 10 kg 125 1250

Coriander Seeds 8 kg 640 5120

Handashi 6 kg 500 3000

Unsalted Butter 30 kg 180 5400

Garlic 20 kg 260 5200

Onions 20 kg 720 14400

Corn 20 kg 60 1200

Shrimp 50 kg 600 30000

Crab 50 kg 840 42000

Scallop 50 kg 213 10650

Oyster 50 kg 160 8000

Total cost 133465

Table 3.2: Utilities

 Utility Duration Cost

Electricity 1 month 9,000

Water 1 month 2,500

LPG gas 1 month 3,500

Telephone 1 month 1,500

Total 16500

Table 3.3: Equipment

Equipment Quantity Price per unit Total cost

Stove burner 5 1,300 6,500

Metal pots 7 150 1,050

Freezer 2 6,000 12,000

Fridge 1 9,000 9,000

Kitchen Utensils 50 60 3,000

Total 31,550

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CHAPTER IV
 Financial Study

A. Assumptions

1. The business operation will start on January, 2024 and will use the calendar year.

2. Each partner will contribute a total of P400,000 that will make the total

capitalization of P 3,600,000 .

3. The business will allow each partner to withdraw cash up to P100,000 every year.

4. The business will build its own building that costs around 3,000,000.

5. office supplies will increase by 1% annually

6. Fixed Assets are depreciated using straight line method with a scrap value

of 10% based on cost and have a useful life of 10 years.

7. Sales will increase by 10% annually

8. advertising expense will decrease by 40% after the first year of operations.

9. permits and licenses will increase by 2% annually

10. Overhead shall consists of the following accounts: Light and water estimated to be

P50,000 per month and to increase by 10% every year. Telephone and internet

amounts to P2,000 per month and assumed to increase by 5% every year. Repairs and

maintenance is assumed to be 2% of the fixed asset cost for the first 3 years and, 5%

for the next 3 years.

11. Employees will have a starting salary of 350.

12. An increase of 5% per year in the salaries and wages of all employees.
13. The business will have 15 employees in the first year of operation.

14. 40% of the net income will be the retained earnings for the year and 60% is

distributed as dividends among the partners.

15. Production cost will increase by 5% annually

B. Projected Cost

ITEMS AMOUNT

Ingredients 133,465

Utilities Expense 16,500

Equipment 31,550

Advertising Expense 12,500

Permits and Licenses 3,200

Miscellaneous Expense 10,00

Repairs and Maintenance 7,000

Salaries Expense 1,080,000

SSS Contributions 2,700

C. The Schedules
Schedule 1: Sales

(Assumptions: No. of buckets sold/day increases by 10% annually)

2024 2025 2026

No. of buckets sold 33 36 40

No. of days/year 365 365 365

Average price 1,000 1,000 1,000

SALES 12,045,000 13,140,000 14,600,000

Schedule 2: Production Cost

(Assumption: Production cost will increase by 5% annually)

Ingredients 2024 2025 2026

Smoked Paprika 28665 30098.25

27300
Old Bay Seasoning 16200 17010 17860.5

Ground Cayenne 15840 16632 17463.6

Salt 6000 6300 6615

Mustard Powder 15600 16380 17199

Sugar 6000 6300 6615

Ground Black Pepper 15000 15750 16537.5

Coriander Seeds 61440 64512 67737.6

Handashi 36000 37800 39690

Unsalted Butter 64800 68040 71442

Garlic 62400 65520 68796

Onions 172800 181440 190512

 Corn 14400 15120 15876

Shrimp 360000 378000 396900

Crab 504000 529200 555660

Scallop 127800 134190 140899.5

Oyster 96000 100800 105840

TOTAL 1681659 1765742

1601580

Schedule 3: Office Supplies Expense

(Assumption: Office supplies increase by 1% annually)

ITEMS QTY COST 2024 2025 2026

Bondpaper 2 205 410 414.1 418.241

Ballpen 30 8 240 242.4 244.824

Logbook 1 69 69 69.69 70.3869

Stapler 1 50 50 50.5 51.005

TOTAL 867.59 876.2659

859

Schedule 4: Permits and Licenses

(Assumption: increase by 2% annually)

 2024 2025 2026

DTI 510 520.2

500

Mayors permit 2000 2040 2080.8

BIR 500 510 520.2

Sanitary Permit 300 306 312.12

TOTAL 3366 3433.32

3300

Schedule 5: Utilities Expense

(Assumption: increase by 2% annually)

AMT
2024 2025 2026
MONTHLY

Electricity 9,000 108,000 110,160 112,363.2

Water 2,500 30,000 30,600 31,212

LPG Gas 3,500 42,000 42,840 43,696.8

Telephone 1,500 18,000 18,360 18,727.2

TOTAL 16,500 198,000 201,960 205,999.2

Schedule 6: Equipment
(Assumption: equipments are depreciated using straight line method with a scrap

value of 10% based on cost and have a useful life of 10 years)

QTY COST 2024 2025 2026

Stove
5 1,300 6,500 5382.65
Burner 5915

Metal Pots 7 150 1,050 955.5 869.505

Freezer 2 6,000 12,000 10920 9937.2

Fridge 1 9,000 9,000 8190 7452.9

Kitchen
50 60 3,000 2730 2484.3
utensils

Chairs 40 250 10,000 9100 8281

Tables 10 400 4,000 3640 3,280

Air
2 15,000 30,000 27300 24,600
Condition

Generator 1 20,000 20,000 18200 16,400

TOTAL 28,711 26,127

31,550
Schedule 7: Repairs and Maintenance

(Assumption: increase by 2% annually)

2024 2025 2026

Repairs and
7,000 7140 7,282.8
Maintenance

TOTAL 7,000 7140 7,282.8

Schedule 8: SSS Contribution

(Assumption: increase by 2% annually)

2024 2025 2026

SSS Contribution 2,700 2,754 2.809.08

TOTAL 2,700 2,754 2.809.08

Schedule 9: Salaries Expense

(Assumption: Salaries increase by 5% annually)

2024 2025 2026

Salaries Expense 1,620,000 1,701,000 1,786,000

TOTAL 1,620,000 1,701,000 1,786,000

Schedule 10: Advertising Expense

(Assumption: advertising expense will decrease by 40% after the first year of

operations.)

2024 2025 2026

Advertising 12,500 6,250 6,250

TOTAL 12,500 6,250 6,250

Schedule 11: Miscellaneous Expense

(Assumption: Increase by 5% annually)

2024 2025 2026

Misc. Exp 10,000 10,500 11,025

TOTAL 10,000 10,500 11,025

D. Sources of Financing

Capital Amount

Owner’s Capital 3,600,00

Total capital 3,600,000

E. Preparation of Financial Statements

 Bucket Ka-Sea
Income Statement
For the Year Ended
Schedul
2024 2025 2026
e

12,045,00 13,140,00
Sales 1 14,600,000
0 0

Less: COGS 2 1601580 1681659 1765742

10,443,42 11,458,34
Gross Profit 12,834,258
0 1
Less: Operating expense
Supplies 3 859 867.59 876.2659
Permits and Licenses 4 3300 3366 3433.32
Utilities expense 5 198,000 201,960 205,999.20
Depreciation 6 2,839 2,839 2,839
Repairs and
7 7,000 7140 7,282.80
Maintenance
SSS Contribution 8 2,700 2,754 2.809.08
Salaries Expense 9 1,620,000 1,701,000 1,786,000
Advertising Expense 10 12,500 6,250 6,250
Miscellaneous Expense 11 10,000 10,500 11,025
Net Income 8,586,222 9,521,664 12,618,293.5341

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 CHAPTER V

Socio-Economic Study

A. Business Purpose

According to Hosomi, et. al (2012), In recent years, in developed countries

and around the world, lifestyle-related diseases have become a serious problem.

Numerous epidemiological studies and clinical trials have demonstrated that diet is

one of the major factors that influence susceptibility to lifestyle-related diseases,

especially the middle-senile state. Studies examining dietary habits have revealed the

health benefits of seafood consumption.

Functional elements found in seafood are absent in species from the land.

These components include n-3 polyunsaturated fatty acids, which help to prevent

thrombotic and arteriosclerotic illness. Examples of these fatty acids include

eicosapentaenoic acid and docosahexaenoic acid. Additionally, seafood is a great

source of many nutrients, including fiber, vitamins, minerals, and amino acids.

B. Business Contribution

Government

Bucket Seafood could potentially create jobs and generate tax revenue for

local and national governments. Additionally, if the company sources its seafood

sustainably and adheres to environmental regulations, it could contribute to the

government's efforts to protect marine ecosystems.

Economy

Bucket Seafood could provide consumers with a new source of high-quality

seafood, potentially boosting local economies and supporting small businesses. The

company could also contribute to the broader seafood industry, which is a significant

contributor to global trade and commerce.Additionally, the bucket seafood business

can create jobs and provide opportunities for career growth, which can have a positive

impact on the economy as a whole.

Consumers

Nowadays, here in Ozamiz, bucket seafood is not common since it is pricey

and also because customers want a new taste and want a bucket of seafood that can be

bought at an affordable price. The bucket seafood Can provide products and services

that meet the needs and wants of consumers, helping to improve their quality of life.
_____________________________________________________________________

CHAPTER VI

Organization and Management Study

A. Business Organization Type

Seafood Bucket takes the business organization type of sole proprietorship.It i

s totally owned by Mr. Jade Perales, making him in direct charge of the business oper

ations. He has an unlimited responsibility of the business and is also the one leading t

he development and implementation of the overall organization’s strategy.

Mr. Perales receives all the profits generated by the business. There is no legal

distinction between him, and the business and all the assets and liabilities of the busin

ess are his.

 B. Organizational Chart

Although the organization type of the business places all the responsibility on t

he owner, employing workers will allow for a more efficient operation as they carry o

ut the responsibilities of their individual positions.

OWNER
Mr. Jade Perales

COOK C. CASHIER Jo DISHWASHER b WAITER/WAITRESS

Employee D Employee esc Employee ri Employee

ption

C.1 Owner

 responsible for the day-to-day operations of their business.

 oversee for fixing prices and signing business deals

 in charge for providing direction for the business

 Responsible for providing direction for the business

 Makes the decision for the business

C.2 Cook
  Oversees the entire coking process

 Check the quality and freshness of ingredients

 Ensuring that the kitchen area, equipment, and utensils are cleaned.

 Efficiently resolving problems with customers’ orders.

 Maintaining the quality and standard of the food.

C.3 Cashier

 Receives payment and handles money for the time-being

 Accept cash and return the correct change.

 Keeps all important records of the business

 Provides pricing information to customers

C.4 Waiter

 Greet customers and hand out menus.

 Prepare the bill for tables when requested.

 Promptly attends to customers in a friendly and professional manner

 Ensures that customers order is properly taken and delivered

 Ensures that un-occupied tables are always set and ready for customers
C.5 Dishwasher

 Ensuring the availability of clean dishes by washing dishes, pots, pans, and fla

tware, and resetting dining areas.

 Cleaning machines and appliances used in the kitchen.

 Sweeping and mopping floors.

 Reporting kitchen accidents or violations of food safety codes and procedures.

D. Job Qualifications

Seafood Bucket Restaurant also ought to provide job and work experience to i

ndividuals who were not able to pursue college or finish their studies. This intention is

effective alongside the qualifications of the applicants to be hired

D.1 Cook

 Senior High school diploma, or TESDA certificate or GED.

 Sound knowledge of cooking methods and techniques.

 Proven experience working as a Cook.

 The ability to follow recipes.

 The ability to work in a team.

 20-35 years old

D.2 Cashier

 Senior High school diploma or equivalent qualification.

 Excellent communication and interpersonal skills.

 Good mathematical skills.

  18-35 years old

D.3 Waiter

 Senior High school diploma

 Endurance to walk and stand for long hours.

 Ability to remain calm and professional with difficult customers.

 Excellent interpersonal skills.

 Coordination to carry plates or trays without dropping anything.

 18-35 years old

D.4 Dishwasher

 High school diploma

 Minimal work experience.

 Willingness to comply with all food safety procedures.

 Ability to understand and follow directions

 18-35 years old

E. Salary

Employees will be paid P365.00 per day, in accordance with the city's minimu

m wage. Their pay will be increased by 2% every year. The company will vigorously

enforce the 'No Work, No Pay' policy.

Table 6.1: Employees’ Salary

Employees Daily Wage Monthly Salary Annual Salary

Cashier P 365.00 P8,030.00 P96,360.00

COOK

P 365.00 P8,030.00 P96,360.00

WAITER/WAITRESS P 365.00 P8,030.00 P96,360.00

DISHWASHER P 365.00 P8,030.00 P96,360.00

TOTAL 1,460 32,120 38,5440

F. Hiring and Recruitment

Bucket ka Sea will follow the standard recruiting and recruitment procedure, t

aking into account all applicants' credentials.

The following procedures will be implemented:

1. Publicize the recruiting news through ads along with the promotion of the b

usiness.
 2. Accept application forms and other essential credentials.

3. Verify, evaluate, and choose qualified candidates.

4. Applicants that are chosen will be interviewed. This will be the final stage o

f picking the most qualified candidates.

5. Hire

If a valid cause arises, the previously mentioned recruiting procedure is subject to alte

rations and revisions. Additionally, the following staff will be hired:

A. 1 Cashier

B. 2 COOK

C. 1 DISHWASHER

D. 5 WAITER/WAITRESS

G. Project Schedule

The firm is expected to be operational six months following the start of the Fe

asibility Study - construction of the facility is now complete.

Table 6.2: Project Schedule

Activity 1 2 3 4 5 6

Conduct of Feasibility
Study

Preparation of License
and Permit
Release of
Advertisement for
Business
Promotion/Hiring
Process
Operation and
Organization
Arrangement and
 Preparation

Start of business

PEAR ASSESSMENT

CHRISTIAN JADE T. PERALES - 99/100 (Contributed to the majority of the

paper)

SHANDEY E. MECAROS - 96/100 (Contributed to the completion of the paper)

JESRA MAE E. LUMALES - 96/100 (Contributed to the completion of the Paper

and also conducted the survey)

DANICA JEAN C. PALLER - 80/100 (Conducted the survey)

JANA JEAN S GUMAPAC - 96/100 (Contributed to the completion of the study and

also printed the hard copy)

PRENCHIE M. DUMON - 96/100 (Contributed to the completion of the study)

JORALYN JAPOS - Did not contribute to the completion of the study