AGBIAG

KITCHENETTE
MEMBERS: • NOLIE VIDAL • GERALDINE DELACRUZ

• ANGELO BARROZO • VICKY SULIT • KYLLE SETTE LUCERO

• DENNIS BLAS • ANGERLIE MARIE • KYLLE CANTOR

ALFARO
• JOSHUA SALVADOR • PAULINE DOMINGO
• DANICA ARELLANO
• ERWIN CALIMAG
 RATIONALE OF BUSINESS

On the month of march we started the chili oil business. We decided to sell this product
because a lot of people like eating spicy foods. Producing product like this is not easy, but we are
all committed to sell this in the market.
The reason why we come up in this product is all because one of the relatives of our group
member is have a secret recipe in making chili oil. Chili oil garlic is made to spice up your taste
buds and make your snacks or meal more enjoyable. The product gives you a lot of good effects
and nutrients for your body. The main ingredients are chilies, garlic, vinegar and cooking oil. chili
garlic gives life to many dishes and also level up the flavor of bland foods to improve its taste.
 RATIONALE OF BUSINESS

A lot of individual enjoys their meal with a kick of spiciness and if you are one of them this is
perfect for you.
We name our product “JUST CHILL’N” comes from the word chilling means, spending time
relaxing and enjoying every bite of your food with our special chili oil garlic. The product doesn’t
just spice up your food, it will also make you smile better in every bite.
 PROBLEMS ENCOUNTERED

• Some of our group members decided to part ways for some internal issues. The group therefor
struggle to make an adjustments to the financially.
• High rental fees caused the business to stop from its natural operation, as a result, the group decided
to create a new products like chili oil, but it was very challenging to draw in new customers.
• The group had a difficult time in achieving the goal and objectives of the business due to lack of
communication and poor cooperation.
• The irregular member have a different class schedules that affects the man power to operate the
business.
 SOLUTIONS IMPLEMENTED

• The group construct new financial records and bank accounts as part of the plan to fix the record
keeping issues. For financial transparency the assigned member is meticulously record every
single transaction including bank deposits, operating expenses and income.
• The group implemented marketing strategies in order to market our products. We used to give
flyers and establishments and we distribute also around the campus. We post also in our online
platforms to promote widely as a part of our marketing strategies.
 SOLUTIONS IMPLEMENTED

• Ineffective communication can lead to many misunderstanding and disagreements among

members as a solution the management set a meeting twice a week to discuss the issues and on
how to business achieve its goal and objectives.
 FINANCIAL STATEMENT
CASH FLOW

Beginning capital 29,723

CASH INFLOW
Sales 27,392
TOTAL CASH INFLOW 57,115

CASH OUTFLOW
Operating expense 10,103
Purchase of Equipment 770
Other expenses 1,400
TOTAL CASH OUTFLOW 12,273

CASH ENDING 44,842

 FINANCIAL STATEMENT
INCOME STATEMENT

SALES

February 10,266

March 11,050

April 6,076

GROSS SALES: 27,392

Less: cost of good sold 10,103

NET SALES: 17,289

Less: Expenses

Utilities expense 1,400

TOTAL EXPENSE: 1,400

NET INCOME: 15,889

 FINANCIAL STATEMENT
BALANCE SHEET

ASSETS
Cash on hand 6,076
Cash on bank 37,766
Purchase equipment 770
Less: Accumulated Depreciation 1,600
TOTAL ASSETS: 46,212

LIABILITIES
Acounts payable 0
Long term liability 0
Total liability 0
Abiag kitchenette Equity 46,212
TOTAL LIABILITY AND EQUITY 46,212
 RECOMMENDATIONS

Upon reaching these conclusion, this implementation recommendations will help the future
implementers to enhance and smarten their implementing strategies to their businesses.
The implementers encourage to give more importance on assessing the market place including;
pricing, product competition, supplies and possible competitors. The financials of the business
plays a vital role in day to day operating activity, it can also consider as blood of business. In order
to keep on tract on the finances of the business the management should record all the financial
activity to monitor the financial stability of the business. Seek counselling and ask professionals to
provide better ideas and strategies on how to make the business productive and competitive in the
market.