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Campers at Heart - Feasibility Study
Campers at Heart - Feasibility Study
FEASIBILITY STUDY
A Feasibility Study
Presented to the Faculty of the College of Business Administration
AMA Computer College, South Superhighway
Makati City
By
April 2022
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TABLE OF CONTENTS
MANAGEMENT FEASIBILITY.........................................................................................3
Introduction............................................................................................................................. 3
Legal Structure of the Business..............................................................................................3
Organization Chart..................................................................................................................3
Job Descriptions, Duties and Responsibilities.........................................................................4
Employee Benefits.................................................................................................................. 4
MARKET FEASIBILITY....................................................................................................5
Introduction............................................................................................................................. 5
Demand Analysis.................................................................................................................... 5
Supply Analysis....................................................................................................................... 5
Sales Forecast........................................................................................................................ 5
Marketing Strategy..................................................................................................................6
Marketing Plan........................................................................................................................ 6
TECHNICAL FEASIBILITY...............................................................................................8
Introduction............................................................................................................................. 8
Physical Location.................................................................................................................... 8
Floor Plan (Layout)..................................................................................................................8
Description of Products and Services......................................................................................8
Technology Requirements......................................................................................................9
Machines and Equipment........................................................................................................9
Production Process................................................................................................................. 9
Production Schedule............................................................................................................... 9
Inventory Schedule............................................................................................................... 10
Product Delivery.................................................................................................................... 10
Manpower Requirement........................................................................................................10
Project Timetable (Gantt Chart)............................................................................................10
FINANCIAL FEASIBILITY..............................................................................................12
Introduction........................................................................................................................... 12
Start-Up Costs...................................................................................................................... 12
Capital Requirement............................................................................................................. 14
Loan Repayment Schedule...................................................................................................14
Sales Forecast...................................................................................................................... 15
Cost of Sales......................................................................................................................... 15
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Operating Expense Forecast.................................................................................................15
Projected Income Statement.................................................................................................15
Statement of Financial Position.............................................................................................16
Cash Flow Statement............................................................................................................ 16
Financial Ratios.................................................................................................................... 16
Liquidity Ratios................................................................................................................. 16
Leverage Financial Ratios................................................................................................17
Efficiency Ratios............................................................................................................... 17
Profitability Ratios............................................................................................................. 18
SOCIO-ECONOMIC FEASIBILITY.................................................................................19
Introduction........................................................................................................................... 19
Contribution to the government.............................................................................................19
Contribution to the society.....................................................................................................19
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Chapter 1
Introduction
Pagudpud, a town situated 1 and a half hours north of Laoag City, the provincial capital
of Ilocos Norte, and about 10 hours by land from the Philippine capital Manila, is fast gaining
fame in the international travel circuit staking its claim amongst the pretenders to the throne of
having the best Philippine beach which unarguably is perennially held by Boracay in Aklan. But
Boracay it is not, although it comes pretty close when it comes to sand quality, the clarity of its
stunningly blue waters and the length and width of its beaches (other beaches in the Philippines
do have white sand, but not as fine nor the beach as long nor wide). But whilst Boracay caters
to the to the party scene and its extensive range of island activities, Pagudpud derives its charm
from exactly the opposite of that – even on a long weekend, the beaches of Maira-ira, Saud and
Pansian rarely get the hordes of tourists that Boracay, Panglao (Bohol), and Puerto Galera
(Oriental Mindoro) due to the town’s relative remoteness (although Easter Weekend is an
apparent exception as told by our Korong-korong driver where the road to Maira-ira can get
pretty clogged with traffic). (https://pagudpudiln.gov.ph/a
Camping describes a range of activities and approaches to outdoor
accommodation. Survivalist and wild campers typically set off with as little as possible to get by.
Other campers might use specialised camping gear designed to provide comfort, including their
own power and heat sources as well as camping furniture. Camping may be combined
with hiking, as in backpacking, and is often enjoyed in conjunction with other outdoor activities
such as canoeing, climbing, fishing, and hunting. Fastpacking involves both running and
camping. It reflects a combination of intent and the nature of activities involved. A
children's summer camp with dining hall meals and bunkhouse accommodations may have
"camp" in its name but fails to reflect the spirit and form of "camping" as it is broadly understood.
Similarly, a homeless person's lifestyle may involve many common camping activities, such as
sleeping out and preparing meals over a fire, but fails to reflect the elective nature and pursuit of
spirit rejuvenation that are integral aspect of camping.
(https://en.wikipedia.org/wiki/Camping)bout-us/#)
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In this chapter, it discusses the name and address of project promoter, profile of the
business, products and services offered, short term and long term goals, target market and
economic and industrial policies support to the project.
NAME ADDRESS
DANTE A. CALVAN JR. BURAYOC, PAGUDPUD, ILOCOS NORTE
MANUEL FAILANO DAVILA PASUQUIN, ILOCOS NORTE
The Campers at Heart will established at the land acquired through inheritance of
one of the project promoter name Dante A. Calvan Jr. This campers at heart site had a
total area: 7,563 sqm, total market value: 233,310 and total assessed value: 93, 320.
The business proposed name is Campers at Heart. The formal structure of the
business is a partnership with Chief Executive Officer, Dante Calvan Jr. with General
Manager & Marketing Sales Officer Mr. Manuel Failano, Admin and HR Manager and
Accountant with Ms. Paulyne Guillen.
The project promoter had their initial investment in order for the business to start.
The project promoter target cost is 500,000.00. This already includes the initial supplies
and working capital needs for the business.
The location of the business is at Brgy. Burayoc, Pagudpud Ilocos Norte which is
in the heart of the ROC (River, Ocean and Creek). The Saud white beach and Balaoi is
crowded of tourist. Therefore, with a vast amount of tourist in the area the Campers at
Heart provide to the tourist a camping destination.
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CAMPER’S
HEART SITE
1. Services
Camping:
> family camping
> couple camping
2. Activities/ Events
>pitching of tent
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>bonfire
>Team building
> Fishing
> Picnic
> Boating
Short Term
Increase profit margin by 50% at the end of the month
To cater customers/ tourist within the barangay area
Establish customer satisfaction
Long Term
Improve the what they expect at the Camper’s at Heart
Increase profit margin by 80% at the end of the year
Expand and develop a new attractions of the Camper’s at Heart
Strength
We equally have a team of highly qualified professionals who will work with all
our clients to achieve their aims making use of our campground facility and lastly our
gate fee / membership package is one of the best that anybody living in Burayoc
PAGUDPUD can get; it is cheap and affordable.
Weakness
We critically looked into our Business model and we were able to identify two
major weakness. One is the fact that we are a new business and the second is the fact
that we may not have the financial resources required to match up, as well as family
entertainment and recreation facilities and even government own entertainment and
recreation facilities in Burayoc when it comes to acquiring latest recreational vehicles
and generating the needed hypes that can drive traffic towards our facility.
Target Market
The Camper’s at Heart target market are Gen Z: 10 -25 ages, Millenials: 26-41
ages , Gen X: 42-57 ages,Boomers II: 58-67 ages, Boomers I: 68-76 ages , and Post
War:77- 94 ages.
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The business is duly registered to the National Government and Local
Government that covers the economic and industrial policies to support the Camper’s at
Heart.
Chapter 2
MANAGEMENT FEASIBILITY
Introduction
This includes a study of the officers and key personnel, basic considerations in
forming the organizations, form of ownership, organizational chart and project schedule.
This is to determine the option effectiveness of the organizational set up and the
qualification of the individuals who make up the organization. This will also determine
the successful realization of the study.
Organization Chart
The business will generally hire individuals which are knowledge about the
business, good natured in the line of the industry. The combination of these attributes
makes up good and competitive employees.
Organizational chart shows lines of authority among the various position within
an organization. This type of chart illustrates the relationships among departments and
of personnel within the departments. The senior position is placed at the top of the
chart. Other positions are placed on the chart in descending order of authority.
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Job Descriptions, Duties and Responsibilities
This person will be manages and directs the company toward its primary goals
and objectives. He/ she oversees employment decisions at the executive level of the
company. He/she leads a team of executives to consider major decisions including
acquisitions, mergers, joint ventures, or large-scale expansion.
General Manager
This person will be act as scaled-down CEOs. He/she overseeing the daily
operations of a business segment, department, or stand-alone retail location. He/ she
ensure strategic goals are met by setting operational policies, creating and maintaining
budgets, managing employees, and more.
HR Manager
This person will handle compliance with certain standards such as equal
employment opportunities. He/she also oversee employee relations and address
workplace issues such as disputes, sexual harassment claims, workplace health and
safety, and labor law negotiations.
Accountant
This person will be responsible for the preparation of Financial Statements and
Income Tax Returns, handling of invoices and accomplishing statistics.
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All the employees and also the CEO will be responsible for manual work in the
Campers at Heart.
Employee Benefits
The mandatory benefits are benefits that employers are required by law to
provide to their employees. Campers at Heart workers are to be treated with utmost
respect and priority being placed in their health and welfare. It must be compensation
package: monthly wage, SSS, PhilHealth and Pag-Ibig.
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Chapter 3
MARKET FEASIBILITY
Introduction
The market projection of this business is based on the surveys conducted and
other related information gathered from the company. Projection of sales for the five
years of operation is based on the different factors like the market acceptability, level of
satisfaction of the customers and promotional strategies. We also consider factors like
our competitors and the location awareness of the customers that may affect the market
share of the company.
Demand Analysis
Guide (remove texts in red fonts when done): Demand is the customer’s desire for a particular product, at
the given price, which he/she is ready to buy in one market at different prices during a given period of
time. Demand analysis is the process of understanding the customer demand for a product or service in a
target market. Companies use demand analysis techniques to determine if they can successfully enter a
market and generate expected profits to expand their business operations.
Supply Analysis
Guide (remove texts in red fonts when done): Supply implies the quantity (how much) of a product or
service which are offered by the manufacturer for sale at various prices to the customers, during a given
period of time. Supply Analysis is a research and analysis done to understand the supply trends and
responses to changing market and production variables. Supply Analysis takes into account the
production costs, raw material costs, technology, labour wages etc. The analysis helps the manufacturers
and companies to understand the impact of these variables on supply and eventually demand.
Sales Forecast
It is important to state that our sales forecast is based on the data gathered
during our feasibility studies and also some of the assumptions readily available on the
field. We expect to welcome a minimum of 12,000 customers i.e. 0ne thousand
customers per month within our first year of operations and then in subsequent year we
will grow by 25 percent or more.
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Units sold Sales per Year 1
Products/Services Price
per month Month Sales
Pitching of tents
bonfire
Team building
Fishing
Picnic shade
boating
TOTALS
Marketing Strategy
Marketing Plan
Guide (remove texts in red fonts when done): Once you have defined your marketing mix, the next step
is to detail the specific activities that you will undertake to achieve your marketing objectives. As you
create these activities, keep referring back to your marketing mix – it will help you to assess which
activities are worth the time and effort to implement.
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Chapter 4
TECHNICAL FEASIBILITY
Introduction
The technical aspect of a feasibility study helps you determine the efficacy of
your proposed project by examining the details of your intended process, including
materials and labor, logistics and technology related to producing, delivering and
tracking the products or services you intend to develop.
Physical Location
The Campers at Heart is located at the near of fishing port of Burayoc and found
at the ROC ( Cabacanan River, West China Sea and Lenned Creek).
The
Campers at Heart as can visualize the floor plan (Layout) where we find the tent area,
bonefire, boat place, resto house and playground.
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Product or service
Pitching of Tents
Description
Waterproof Automatic Tent, Outdoor Camping Tent,
Two Doors Camping Waterproof, 2 Person Tent
Sunscreen Camping Hiking Tent Family Tent
(200*150*130CM)Easy Setup
Price Php 999.00
Php 2,530.00
Fishing
Php ₱501.00
Teambuilding/picnic/ bonfire
Only Entrance Fee
Php 20.00 per teenager and Php 30.00 per adult
The Campers at Heart what to expect it. To had camping: pitching of tent, fishing,
boating, picnic and bonfire when it cames night.
Technology Requirements
Guide (remove texts in red fonts when done): Every business needs at least some kind of technology to
operate. The technology component of your feasibility study should include discussions about telephone
answering systems, computer hardware and software, computer network and internet connection, multi-
function printer, and other office machines. Don't overlook items like cash registers and potentially the
ability to accept credit cards and process checks. You might need special devices to accommodate the
disabled, or teleconferencing equipment and facilities. Smartphones are almost a must for most
businesses, and you might need alarm or camera systems.
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Machines and Equipment
Guide (remove texts in red fonts when done): This refers to the machines and equipment necessary to
make the product or complete the service.
Production Process
Guide (remove texts in red fonts when done): This is a step-by-step description of how the product is
made or the service completed.
Production Materials
Guide (remove texts in red fonts when done): This refers to the major materials that you will use to make
a product or complete a service. There are two types of production materials, direct materials and indirect
materials. Direct materials refer to the materials that become part of, or are directly related to the product
you make or service you offer. Indirect materials refer to some materials that are usually used in small
amounts to make a product or complete a service.
Production Schedule
Guide (remove texts in red fonts when done): This gives in detail how the work is going to be spread out
in the next 12 months. This has to be made in order to ensure that the number of units to be sold or
services to be completed, based on the projected sales, are produced in time. Among others, the
schedule will show the status of production at any point during the production period; the specific periods
when production or service will start and when the product or service will be completed.
Inventory Schedule
Guide (remove texts in red fonts when done): Inventory refers to the stock of materials, supplies, and
spares required for making the product or completing the service. The inventory record will keep you
informed of the date of purchase, quantity purchased, cost, date released for production, quantity issued,
and remaining balances. Keeping track of these items will ensure that you do not only have the materials
you need to make the product or complete the service on short notice but also to prevent you from
keeping obsolete or expired materials in your stock.
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Start writing here…
Product Delivery
Guide (remove texts in red fonts when done): You can make the best product in the world, but if you don't
have a delivery strategy for getting it to your customers, you'll end up with a fully stocked warehouse and
no incoming revenue. Product delivery should be thoughtfully planned and executed and should fit into
your company's overall mission and marketing strategy.
Manpower Requirement
Guide (remove texts in red fonts when done): This comes in the form of direct labor and indirect labor.
Direct labor refers to the people who are actually involved in making the product or completing the
service. In the soap business, this will be the mixer. Indirect labor refers to the people who perform tasks
that do not have anything to do directly with making the product or completing the service. They are the
production helpers, quality control inspector, supervisor, etc.
Guide (remove texts in red fonts when done): This is a list of all the activities you are to do prior to
launching the business and the timeframe for accomplishing them. Preparing the Gantt Chart is a useful
exercise that allows you to have a view of the pre-operating activities and their cost implications. These
activities include writing of the business plan, negotiation for financing, construction or improvement of the
building, acquisition of machinery and equipment, recruitment (and training, as applicable) of personnel,
registration of the business etc..
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Chapter 5
FINANCIAL FEASIBILITY
Introduction
Guidelines (remove when done): A financial feasibility study projects how much start-up capital is
needed, sources of capital, returns on investment, and other financial considerations. It looks at how
much cash is required, where it will come from, and how it will be spent.
Start-Up Costs
Guidelines (remove when done): Startup costs are the expenses incurred during the process of creating
a new business. Pre-opening startup costs include a business plan, research expenses, borrowing costs,
and expenses for technology. Post-opening startup costs include advertising, promotion, and employee
expenses.
Business Plan - A business plan forces consideration of the different startup costs.
Research Expenses - Careful research of the industry and consumer makeup must be conducted
before starting a business. Some business owners choose to hire market research firms to aid
them in the assessment process, thus, the expense of hiring these experts must be included in
the business plan.
Borrowing Costs - Starting up any kind of business requires an infusion of capital. For small
business owners, the most likely source of financing is debt in the form of a small business loan.
Like any other loan, business loans are accompanied by interest payments. These payments
must be planned for when starting a business, as the cost of default is very high.
Insurance, License, and Permit Fees - Many businesses are expected to submit to health
inspections and authorizations to obtain certain business licenses and permits. Some businesses
might require basic licenses while others need industry-specific permits. Carrying insurance to
cover your employees, customers, business assets, and yourself can help protect your personal
assets from any liabilities that may arise.
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Machines and Equipment - Proper office machines and equipment help businesses run like well-
oiled machines. Although each business may have specific equipment determined by industry,
there are universal technologies for all office spaces. Each item works together to ensure duties
can be performed in-house, which can save time and money. Examples are computers, printers,
copiers, faax machine, telephone systems
Furniture and Fixtures Expenses - Furniture and fixtures are larger items of movable equipment
that are used to furnish an office. Examples are bookcases, chairs, desks, filing cabinets, and
tables.
Advertising and Promotion - A new company or startup business is unlikely to succeed without
promoting itself. Promoting a business entails much more than placing ads in a local newspaper.
It also includes marketing—everything a company does to attract clients to the business.
Pre-Employment Expenses - planning to hire employees must plan for wages, salaries, and
benefits. Failure to compensate employees adequately can end in low morale, mutiny, and bad
publicity, all of which can be disastrous to a company. Pre-employment expenses include
medical, training, and other related expenses.
Particular Amount
FOUNDING EXPENSES
Legal fees
Business permits, licenses and insurance fees
CAPITAL EXPENDITURES
Machines and Equipment
Furniture and Fixtures
Technological Expenses
PRE-OPERATING EXPENSES
Business/Market Research
Advance Rent
Advertising and Promotion
Pre-Employment Expenses
Other Pre-Operating Expenses
Total Start-Up Costs
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Capital Requirement
Guidelines (remove when done): The capital requirement is the sum of funds that your company needs
to achieve its goals. Plainly speaking: How much money do you need until your business is up and
running? You can calculate the capital requirements by adding founding expenses, investments and
start-up costs together. By subtracting your equity capital from the capital requirements, you calculate
how much external capital you are going to need.
Particular Amount
Total Start-Up Costs
Total Capital Requirement
Less: Owner’s Capital Contribution
Total Amount to be Financed
Guidelines (remove when done): When you take out a loan, you are required to pay it back to the lender
within a specified period of time. The repayment includes both the principal amount along with the
interest over a predefined number of monthly installments.
Simply put, the act of repaying the loan through a series of scheduled payments generally referred to as
EMIs that includes both the principal amount outstanding and the interest component is known as the
Repayment Schedule. It is also called an Amortization Table.
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Sales Forecast
Guidelines (remove when done): Sales forecasting is the process of estimating future sales. Accurate
sales forecasts enable companies to make informed business decisions and predict short-term and long-
term performance. Companies can base their forecasts on past sales data, industry-wide comparisons,
and economic trends. Newly founded companies have to base their forecasts on less-verified
information, such as market research and competitive intelligence to forecast their future business.
Cost of Sales
Guidelines (remove when done): Cost of sales (also known as "cost of goods sold") refers to the cost
required to manufacture or purchase a product that is then sold to a customer.
Guidelines (remove when done): Operating expenses are incurred in the regular operations of business
and include rent, equipment, marketing, payroll, insurance, and funds allocated for research and
development. Operating expenses are necessary and mandatory for most businesses.
Guidelines (remove when done): An income statement, also known as a profit and loss statement,
shows your revenues, expenses and profit for a particular period. If you are developing these projections
prior to starting your business, this is where you will want to do the bulk of your forecasting.
1. Sales – This is the money you will earn from whatever goods or services you provide.
2. Cost of Sales – This represents the direct costs related to the manufacturing or purchasing of
goods which has been sold.
3. Gross Income – computed as Sales less Cost of Sales
4. Operating Expenses – Be sure to account for all of the expenses you will encounter, including
general and administrative costs such as accounting and legal fees, advertising, bank charges,
insurance, office rent, telecommunications, etc.
5. Net Income – computed as Gross income less Operating Expenses.
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Statement of Financial Position
Guidelines (remove when done): Statement of Financial Position or commonly known as the Balance
Sheet will present a picture of your business’ net worth at a particular time. It is a summary of all your
business’ financial data in three categories: assets, liabilities and equity.
Guidelines (remove when done): A cash flow projection will demonstrate to a loan officer or investor
that you are a good credit risk and can pay back a loan if it’s granted. The three sections of a cash flow
projection are:
Cash revenues – This is an overview of your estimated sales for a given time period. Be sure
that you only account for cash sales you will collect and not credit.
Cash disbursements – Look through your ledger and list all of the cash expenditures that
you expect to pay that month.
Reconciliation of cash revenues to cash disbursements – This one is pretty easy: you just
take the amount of cash disbursements and subtract it from your total cash revenue. If you
have a balance from the previous month, you’ll want to carry this amount over and add it to
your cash revenue total.
Financial Ratios
Liquidity Ratios
Liquidity ratios are financial ratios that measure a company’s ability to repay both short- and long-term
obligations. Common liquidity ratios include the following:
The current ratio measures a company’s ability to pay off short-term liabilities with current assets:
The acid-test ratio measures a company’s ability to pay off short-term liabilities with quick assets:
The cash ratio measures a company’s ability to pay off short-term liabilities with cash and cash
equivalents:
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Cash ratio = Cash and Cash equivalents / Current Liabilities
The operating cash flow ratio is a measure of the number of times a company can pay off current
liabilities with the cash generated in a given period:
Leverage ratios measure the amount of capital that comes from debt. In other words, leverage financial
ratios are used to evaluate a company’s debt levels. Common leverage ratios include the following:
The debt ratio measures the relative amount of a company’s assets that are provided from debt:
The debt to equity ratio calculates the weight of total debt and financial liabilities against shareholders’
equity:
The interest coverage ratio shows how easily a company can pay its interest expenses:
The debt service coverage ratio reveals how easily a company can pay its debt obligations:
Efficiency Ratios
Efficiency ratios, also known as activity financial ratios, are used to measure how well a company is
utilizing its assets and resources. Common efficiency ratios include:
The asset turnover ratio measures a company’s ability to generate sales from assets:
The inventory turnover ratio measures how many times a company’s inventory is sold and replaced
over a given period:
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The accounts receivable turnover ratio measures how many times a company can turn receivables into
cash over a given period:
The days sales in inventory ratio measures the average number of days that a company holds on to
inventory before selling it to customers:
Profitability Ratios
Profitability ratios measure a company’s ability to generate income relative to revenue, balance sheet
assets, operating costs, and equity. Common profitability financial ratios include the following:
The gross margin ratio compares the gross profit of a company to its net sales to show how much profit
a company makes after paying its cost of goods sold:
The operating margin ratio compares the operating income of a company to its net sales to determine
operating efficiency:
The return on assets ratio measures how efficiently a company is using its assets to generate profit:
The return on equity ratio measures how efficiently a company is using its equity to generate profit:
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Chapter 6
SOCIO-ECONOMIC FEASIBILITY
Introduction
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Contribution to the society
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APPENDIX A
Legal Requirements to Establish a Business
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APPENDIX B
Permits and Licenses
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APPENDIX C
Articles of Partnership/Corporation
Articles of Partnership
Of
CAMPERS AT HEART
That, we the undersigned, all of legal age and residents of the Republic of the Philippines
have agreed to amend a limited partnership under the terms and conditions herein after set forth
and subject to the provisions of existing laws of the Republic of the Philippines.
ARTICLE II. That the principal office of the Partnership shall be located at Burayoc,
Pagudpud, ILOCOS NORTE.
ARTICLE III . That the names, citizenship and residence of the partners of the said
partnership are as follows.
ARTICLE IV. That the term for which said partnership is to exist is thirty-five
(35) years from the original recording of the said partnership by the Securities and Exchange
Commission.
ARTICLE V. That the purposes for which said partnership is formed are as follows:
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To conduct business related to camping and Adventures;
ARTICLE VI. That the capital of this partnership shall be seven hundred fifty thousand
pesos, Philippine Currency contributed in cash by the partners as follows:
That no transfer which will reduce the ownership of Filipino citizens to less than the
recquired percentage of capital shall be recorded in the proper books of the partnership;
ARTICLE VII. That the profits and losses shall be divided pro-rata among the partners;
ARTICLE VIII. That should there be any additional contribution made by a limited partner, such must
be agreed upon by all the partners in writing and duly recorded at least two (2) days after signing of same
agreement. Such contribution shall amend Article VI of the Articles of Partnership and in no case shall such
amendment be done less than one (1) year after the original recording of said partnership by the Securities and
Exchange Commission.
ARTICLES IX. That the contribution of each limited partner may be returned to him/ her three
(3) years after the original recording of said partnership by the Securities and Exchange Commission.
ARTICLE X. That the limited partner may be given the right to substitute an assignee as
contributor in his place, provided that he has duly notified his partners in writing, stating the
reasons therefor, five (5) days before effectivity if said substitution. Provided further that such
limited partner has already settled his obligation to the partnership prior to the notification of
substitution.
ARTICLE XI. That a partner may admit an additional limited partner, provided that the
other partners have been duly notified in writing five(5) days before effectivity of admission and
duly concurred by all the partners in writing.
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ARTICLE XII. That the remaining general partner or partners shall have the right to
continue the business in case of death, retirement, civil interdiction, insanity or insolvency of a
general partner.
ARTICLE XIII. That the firm shall be under the management of Manuel Failano, as a
General Manager and as such she shall be in charge of the management of the affairs of the
partnership.
ARTICLE XIV. That the partners willingly undertake to change the name of the
partnership immediately upon receipt of notice/ directive from the Securities and Exchange
Commission that another partnership, corporation, or person has been declare misleading,
deceptive, confusingly similar to a registered name or contrary to public morals, good customs or
public policy.
IN WITNESS WHEREOF, we have hereunto set our hands this 10 th day of October
2019 at Burayoc Pagudpud, Ilocos Norte
Paulyne Guillen
ACKNOWLEDGEMENT
BEFORE ME, a Notary Public, for and in Pagudpud IlocosNorte, Philippines, this 10th day of October 2019,
personally came and personally appeared the following persons with their Community Tax Certificates as
follows:
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Known to be the same persons who executed the FOREGOINGARTICLES OF PARTNERSHIP,
and they acknowledged to me that the same is their voluntary act and deed.
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APPENDIX D
Complete Products and Services
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APPENDIX E
Machines & Equipment
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APPENDIX F
Furniture & Fixtures
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APPENDIX G
AEQ Analysis Table
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APPENDIX H
Other Relevant Documents
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APPENDIX I
Curriculum Vitae
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