Acknowledegement

I would like to acknowledge and give my warmest thanks to our Instructor Mr. Greg R.

Fernandez and our Program Head Mr. Eric Bumanglag who made this study possible. Their

guidance and advice carried us through all the stages of writing our study. We would also

like to thank the panelist and critics for letting our defense be an enjoyable moment, and for

your brilliant comments and suggestions, thanks to you all.

We would also like to give special thanks to our friends, love once and families as a whole

for their continuous support and understanding when undertaking our study. Your prayer

for us was what sustained us this far.

Finally, we would like to thank God, for letting us through all the difficulties. We have

experienced your guidance day by day. You are the one who let us finish our study. We will

keep on trusting you for our future.

EXECUTIVE SUMMARY

NAME OF THE BUSINESS: Bana Wax

NAME OF THE COMPANY: Glowipeel

OFFERED PRODUCT: Banana Floorwax

BUSINESS ADDRESS: Batac City

TYPE OF BUSINESS: Manufacturing Industry

MISSION:

To preserve the beauty of antique houses and buildings that are still present in this
generations and also to prolong the house of many people who have wooden and plain
flooring in their homes.

Design, manufacture and distribute a broad range of best-in-class flooring and installation
solutions for commercial and home improvement projects worldwide.

VISION:

To envision that the Bana Wax will be well known not only in the Philippines but also
worldwide.

CORE VALUES:

Six core values make up the product and business in what the corporation stand for.

BOLDNESS- Be passionate, creative and inspiring.

ACCOUNTABILITY- Contribute as a team member, take ownership of works and actions.

NOBLE-MINDED- Having personal qualities that people admire such as honesty, generosity,
and courage.
ADAPTABILITY- Ability to adjust to changes in the environment.

WHOLESOME- Having good health, behavior, and morals.

ACCOMPLISHMENT- A work of effort.

XENOPHILE- A respectable and genial to everyone.

GOAL AND OBJECTIVE:

1. Improve product or service quality.

2. Achieve higher on-time delivery.

3. Provide proper services to customers.

4. Have other distributors or reseller in other towns.

5. Provide good health benefits.

6. Succeed in Bana Wax business, to gain profit and maintain quality of services.

INSPIRATION OF THE BUSINESS

The incorporators may have been driven by a desire to find innovative ways to reduce waste
and promote sustainability. Banana peels are typically inexpensive and readily available,
making them an appealing choice for individuals or communities looking for affordable and
accessible alternatives.
PROBLEM THAT ARE TRYING TO SOLVE

WHO ARE THE FOUNDER

The business was founded by Hababes Solomon, Marielle Laforteza, Ionna Reyes, Thyrone
Ilar, Gwyn Quilala, Jeanelle Gorospe, Marvin Gamulao, and Allyza Ventura on June 2023.
They are all friends since they are first year college.

SECTION ONE: THE BUSINESS

A. Description of the business

Bana Wax is a manufacturing industry because this is a finished product that

are intended to be sold to customers upon completion. The business status is start-
up because this venture focuses on a single product that the founders want to bring
to market. This type of business doesn’t have a fully developed business model. This
business turns to others for more funding, including family, friends, and venture
capitalists. The business form is incorporation because the business legal entity is
created by individuals with the purpose of operating profit. The product of the
business is a floor wax made from banana peel. The customers will be those who do
not yet have standard ceramic tiles in their homes or schools. Because there are still
many old homes with wooden floors that require the strength of an anti-termite
treatment to protect the house.
The Incorporators will be successful for the reason that they reached the
consumers first. The Incorporators know how to work within a budget and how to
manage cash flow. They don’t marry their ideas and expectations; therefore, they
are malleable. They make sure that their product will be the best solution for their
customers' needs. They made a good product at a fair price for the people who
wanted or needed it. And their business is in a good location. Their experience with
 this type of business is that they typically have more freedom because they own the
business. It may be difficult for them at first, but they also overcome it because it’s a
business. They feel good about taking the leap into the unknown. They learn that
having a business is one of the major things that they should do and learn in life just
to be alive. Their business is really special because they make a unique floor wax
that is made up of banana peel and is also anti-termite. The business will be
successful because it is beneficial to the people who still don’t have a standard
ceramic tile in their house or in their school because there are still many antique
houses that have wooden flooring that needed the power of an anti-termite solution
to preserve the house.

B. PRODUCT

The products that the Incorporators will be selling is a Bana Wax, this is made
out of Banana Peel as an alternative ingredient for making floor wax. Since the
community has an abundance of banana plantations and many people sell bananas,
making floor wax out of banana peel will not be expensive, especially considering
that people are not using the banana peel productively. Instead, many people
discard the banana peel after eating the fruit. Furthermore, the owners created this
product to assist the community in producing an alternative floor wax because it is
important for people whose homes and classrooms have wooden floors to make the
floors shine, especially since our country is currently experiencing or facing inflation.
Banana peel has many benefits. One of these is an alternative resource in making
floor wax. Banana peel contains oil that help to protect and shine the floor. It
contains good fiber, which makes the wax shiner and smoother. The oils also repel
dirt and dust, making it easier to keep the floor clean. It offers a good quality not just
like the other common floor wax can offer. Moreover, the Bana Wax is much way
cheaper and has a nicer fragrance than any other wax.

ADVANTAGE:
 Banana peel have a natural fragrance that can provide a pleasant scent
when used in a floor wax. This can help freshen up the room. It is also
typically considered waste and are readily available at low or no cost.
Utilizing them to make floor wax could potentially offer a cost-effective
solution compared to purchasing commercial waxes. The ingredients of
banana peels may offer a non-toxic alternative, making the floor wax safer
for use in homes with children or pets. Using banana peels, which are
organic waste, as a raw material could be a way to reduce waste and
promote sustainability.

The common positioning strategies they use to attain this includes the
product quality, wherein this positioning strategy focuses on promoting a high-
quality product to stand out from the others in the market. Also, with the customer
needs, to demonstrate how a product can benefit the customers, the owners
research the needs of people. That makes it easier to convince the audience about
the product that suits their needs. The product will begin innovating in order to
maintain or increase market share by changing or developing the product to meet
new demographics. By also entering new market segments, redefining target
markets, and adjusting or improving the product's features, quality, pricing, and
differentiation from similar products. Using commercial floor wax can be harmful to
both the environment and people because it contains chemicals that are harmful
when inhaled or absorbed by the human body. That is why the owners produce an
organic floor wax as an alternative to commercial ones, because organic floor wax is
less harmful if inhaled. Bana Wax contains nutrients and substances that can be
used to make products such as floor wax. Bana Wax is not harmful and, more
importantly it is less expensive and cost efficient compared to another floor wax.
 The use of banana peeling as an alternative floor wax is eco-friendly. The
discovery of banana peeling as an alternative floor wax aids in the prevention of
pollution and the reduction of waste. The Bana Wax has numerous benefits for
people. The Bana Wax will also teach them how to make their own floor wax instead
of purchasing commercial floor wax. It will help students and parents save money,
especially in schools wherein many classrooms don't have tiles. All of this makes our
product unique compared to other floor waxes.
The Incorporators believe that customers will buy from them because they
assured that their product will be the best solution for their needs. Bana wax can
improve the appearance of people who have wooden flooring in their homes. The
product also has a low price in which many people will buy from them and they
assure to them that they can afford it. As we all know people love a good deal, they
love spending less and that is why a price reduction does in fact it led to more sales.
With lower prices than the competitors, the business will be able to attract a larger
majority of customers. The owners’ goal is to establish a clear brand identity,
connect with the appropriate partners to promote the product, and to provide
samples or trials to key target markets.

C. Market Analysis

The business’ intended customers is in urban and rural place that owns an
antique house and buildings like school or establishment that were built with
wooden and plain floorings. An individual who has interest in wooden floorings
rather than ceramic tiles. This business offers the customer a product with a better
quality and affordable price.

Bana Wax
D. Marketing Plan

The incorporator decided to use can container with catchy design on it as the
packaging of the product. The product will be a floor wax made from banana peel. It
can offer a locally produced alternative to imported industrial waxes and is a more
environmentally friendly option. It has a good fiber, which makes the wax smoother
and more shiner. It provides the same quality as the other common floor waxes can.
Moreover, compared to the former, it is less expensive and has a nicer fragrance.
Mothers who reside in cement and wood-framed homes will be the target market.
One of the product’s target markets may also include commercial customers like
schools or universities that do not yet have tiles. Social media will be use to connect
with the target market for them to purchase the product. Because the product is still
relatively new, the incorporator may reach the target market using social media sites
like Facebook by a combination of text, graphics, and videos. Distributing flyers and
brochures for them to be familiar with the product banawax. The incorporator will
inspire the customer by outlining the advantages of the product. The excellent fiber
in this banawax, for example, makes the floor more even and shiny. Additionally, the
incorporator will persuade them that this product is highly recommended due to its
great quality and affordable pricing that meets the target market’s budget.

(1.) Product Strategies

The incorporator decided that the packaging should articulate what makes their
brand different. They choose the right design and color scheme to evoke.
Furthermore, they include that their packaging should shows attention to detail, it
more likely a unique brand identity and stand apart from the competition. So, the
incorporator decided to use can container with catchy design on it as the packaging
of the product. The incorporators will sell multiple product lines under the various
brand name, often differentiating by price, quality, or targeted demographic. The
incorporator may also expand offerings by adding to existing product lines because
consumers are more likely to buy products from brands with which they are already
familiar. The incorporator will introduce another alternative floor wax using the
mango peel. Mango peelings are material that are usually discarded by consumers
not knowing that these materials contain high concentration of pectin. Pectin is an
effective stabilizer for floor wax. The banawax will absorb the damage caused by
sharp materials, pets, foot marks and other factors that can continuously damage
the floor. It will increase the lifespan of the floor materials by weeks and it can also
protect the quality of the materials used on the floor.

(2.) Pricing Strategies

The incorporators decided to use the meet competitor price where in this strategy is
a price setting that is based on your competitors’ prices. The advantage of using this
strategy is by making the prices the same as the competitors or even cheaper,
consumers will be less inclined to move from the brand or choose the other
competitors products/services over yours, thus enabling you to maintain your
market share. To build a successful business, you need to stand out from the
competition. That requires some knowledge of who the competitors are (product,
pricing and place), gather the weakness and strength of the competitor and what
they bring to the market so it can help to make the products, services and marketing
stand out. It will enable to set the prices competitively and help to respond to rival
marketing campaigns with own initiatives. The incorporators decided that if the
customer can pay the product as they order and it's better but if no, the plan B
would be 1-week installment. Installment loans are another type of credit that
includes a fixed payment schedule for a specified duration. None but in a free
market, competition is the norm, not the exception, and that competition will affect
how they price. When competitors lower prices or new competition enters at a
lower price, it is perhaps only natural to beat them at their own game but the cost of
price concessions may be higher than the cost of losing a customer or two. But
instead of focusing on competitor’s prices, assess what else they are doing as a
business and see if the group can offer something better. Get to know the customers
and find out what is important to them besides price.

GRAMS PRICE
90 ₱25
180 ₱50
450 ₱150
900 ₱300

The incorporator decided to have anniversary promo wherein if the customer

buy 2 products, they can get one for free.

(3.) Promotional Strategies

  Social Media and Online Advertising: Leverage social media
platforms and online advertising to reach a broader audience.
Create engaging posts, videos, or advertisements that showcase
the benefits of the product. Consider targeted advertising to reach
environmentally conscious consumers or DIY enthusiasts who may
be interested in natural cleaning solutions.
 Flyers
 Advertisement
 Demonstration and Samples: Conduct live demonstrations or offer
samples of the banana peel floor wax to potential customers.
Showcasing its effectiveness, ease of use, and pleasant fragrance
can help build trust and encourage trial. This could be done
through in-store demonstrations, community events, or by
distributing sample-sized products.
 Partnerships and Collaborations: Collaborate with relevant
organizations or influencers in the sustainable living, natural
products, or eco-friendly sectors. Partnering with green cleaning
companies, environmental advocacy groups, or influencers who
align with your brand values can expand your reach and
credibility.
 Packaging and Branding: Develop attractive and eco-friendly
packaging for the floor wax, highlighting its natural ingredients
and sustainability aspects. Use clear labeling and branding that
communicates the product's key features, such as "banana peel-
based" or "organic floor wax."
E. Location

The size of the business will be estimated around 800 square meters. The Location
must have an adequate parking are for employees and customers. All standard
orders are processed every Monday to Friday from 8:00 am to5:00 pm upon the
confirmation of payment we guarantee our customers that all banana peel products
are high quality. The Incorporators are looking for a Location that open for leased In
 terms of leased the owner are willing to pay a right amount for a good location .If
renovation is needed the person responsible for it is depends on the agreement of
the lessor and the lessee. The owner haven choose an exact location for their
business I chose the location will be around the Brgy. 16 quiling Sur Ablan is a good
place to establish house and building in the area who still emirates wooden floorings
for anesthetic and there are still house that does not have standard tiles.
Material needs of banana peel

McDonalds

MMMH

The company decided to buy their own land for stability and a long-term investment for the
company. Unlike leasing or renting, owning land ensures that this company has permanent
physical asset that can appreciate in value over time.
 F. COMPETITION

S W O T
* Strong * High selling * Grow * New
Starwax
brand prices customer competitor
image * Lack of loyalty/ * Tariff taxes
*Great experimentation retention * Increase
marketing for * Available regulatory
*Great improvement nationwide compliances
advertising * No
improvement
for product
design
Liwanag
* Succes in * Low budget * Online * Tough
entering for sales to competiton
market advertisements reach a * Price market
* Well * Marketing broader pressure
known * Limited market * Reduced
locally numbers of * Shift from production
* Lower distribution local to
price than global
Pledgei most market
competitor
* High * Lack pf * Expanded * Strong
quality competitive social media competition
product strength presence * Rising cost
* * Slow customer * Expanded * Increased
Nationally growth distribution taxes
recognized * Low budget options
brand for
* Local advertisements
current
users

The glowipeel company can gain competitive edge by providing, affordable price. Once
discovered the competitive price range, entrepreneurs can strategise their own products’
prices while taking affordability into account. The idea is to increase the sale-ability of what
glowipeel company selling and also, Competition Can Be Abusive It’s really necessary to
adapt to what competitors are practicing in your niche. Inability can become opportunity,
which is a big challenge to glowipeel company may face. But sometimes, this competition
can be very dangerous. The close & stronger competitors may push you to shut down your
business. The slashing price range certainly attracts customers. By following this practice, it
can force you to wrap up your business spontaneously.
- Starwax ( ACS corporation) is well known nationwide for the reason it had strong
brand image,also it had great advertising to hit the annual revenue of approximately
24 billion dollars and a net profit of 1.93 billion dollars.
- Liwanag floorwax had an advantage to other competitor by lowering the product
pricing and also it succeed in entering in market since it is well known locally.
- Pledge (SC Johnson) reported With a Net income of 10 billion dollars for 1 year as of
March 2021. This is how customers trust this product owing the fact that they offer a
very high product quality since it is nationally recognized.
 EXECUTIVE-LEVEL POSITIONS

POSITION JOB SALARY

1. Chief Executive Officer Governs the strategic Php 65,000/month

direction of an
organization by making
top-level managerial
decisions.

2. Chief Financial Officer Oversees all the Php 56,946/month

financial dealings of a
company and reports
to the CEO as well as
the chairman of the
board.

3. Chief Information Officer Oversees all the Php 25,217/month

computer–related
information technology
for a company and
reports directly to the
CEO.

4. Chief Marketing Officer Oversees all decision- Php 42,380/month

making for the
marketing
department.

5. Chief Operations Officer Oversees all business Php 28,714/month

operations at a
 company as a senior
manager.

TOTAL: 218,257

OPERATIONAL-LEVEL POSITIONS

POSITION JOB SALARY

1. Human Resources Managers ensure every employee Php 40,501/month

Manager receives adequate training and
onboarding and has an avenue to
raise concerns about their
workplace.

2. Information Technology Ensures that all employees have Php 42,936/month

Manager the technology they need to get
their job done

3. Marketing Manager Building sustainable relationships Php 36,101/month

and partnerships with other key
players such as vendors and
advertising agencies.

4. Product Manager Oversee the development and Php 39,963/month

improvement of products within
businesses, whether that
encompasses goods, services, or
both.

5. Sales Manager Ensure sales representatives Php 31,300/month

meet their quotas, improve
their sales pitches, and operate
as ideal company ambassadors.

TOTAL: 190,801

MANAGEMENT-LEVEL POSITIONS

POSITION JOB SALARY

1. Administrative Assistance Organize and plan the Php 16, 942/month

schedules of managerial or
executive-level staff.

2. Bookkeeper Responsible for recording and Php 23,314/month

maintaining a business’
financial transactions, such as
 purchases, expenses, sales
revenue, invoices, and
payments.

3. Sales Representative Responsible for Php 20,070/month

communicating the benefits of
a company's products in order
to drive sales.

TOTAL: 60, 326

PURCHASE RAW MATERIAL

ITEMS QUANTITY PER AMOUNT

PRODUCTION

Blender 3 15,000

Cheese Cloth 10 packs 500

Glooves 10 packs 400

Alcohols 10 1,000

Stirrimg Utensil 5 3,500

Saucepan or double 5 6,000

boiler
Can 50 bundles 12,500
Protective Gear 10pcs 1,000
Total amount: 41,900

IMPORTANT NEEDS
Needs Quantity Price Amount Total Cost

Banana 20 bundle per 60 per kilo 1,200 14,400

month

OFFICE SUPPLIES
 ITEM QUANTITY PRICE TOTAL COST OVER ALL COST
(3 YEARS)
(1 Year)

Printer w/ Scanner 3 5,000 15,000 45,000

Bond Paper 5 boxes 200 1,000 3,000

Ink 3 set 600 18,000 54,000

ball pen 1 boxes 115 115 345

retractable

Log books 2 80 160 480

TOTAL: 28,270 447,480

EQUIPMENT

ITEM QUANTITY PRICE AMOUNT

Laptop 3 30,000 90,000

Desktop 5 20,000 100,000

Total 190,000

PACKAGING

ITEM QUANTITY PRICE MONTHLY ANNUAL COST

Can 10 bundle 250 per 2,500 30, 000

bundle

TOTAL: 30, 000

PROMOTIONAL COST

COST NO. OF MONTH ANNUAL COST

Flyers 6,900 6 months 41,400

Advertisement 20,000 3 months 60,000

Social Media 600 1 year 7,200

 TOTAL: 108,600

OFFICE FURNITURES AND FIXTURES

ITEM QUANTITY PRICE TOTAL COST Depreciation

Chair 20 800 16,000 800

Table 5 5,000 15,000 5,000

Air con 3 12,000 36,000 12,000

Exhaust Fan 5 500 2,500 500

TOTAL: 69,500 18,300

STATEMENT OF COST OF GOOD’S SOLD

2023 2024 2025

Inventory Beginning

Add:

Purchase Raw Materials 41,900 41,900 41,500

Packaging 30,000 30,000 30,000

TOTAL: 71,900 71,900 71,900

PROJECT DEMAND AND SALES FOR 2023-2025

DEMAND 2023 2024 2025

Bana wax 12,000 16,500 18,150

Total: 12,000 16,500 18,150

Sale

Bana wax 960,000 1,008,000 1,058,400

Total 972,000 1,024,500 1,602,150

PROJECT COST FOR THE YEAR 2023-2025

 2023 2024 2025

288,840 317,724 349,496.4

LAND

COST

Land 100,000

FINANCIAL ANALYSIS

PROJECT INCOME STATEMENT

FOR THE YEAR ENDED JUNE 2023-JUNE 2025

2023 2024 2025

Sales 972,000 1,024,500 1,602,150

Less Cost of Goods 71,900 71,900 71,900

Sold

Gross Income 1,043,900 1,096,400

Less: Operating Expense

Land - 100,000 -
Priority ingredients 14,400 14,400 14,400
Salaries Expense 469,384 469,384 469,384

Office Supplies 19,350 19,350 19,350

Promotional 108,600 108,600 108,600

Expense

Depreciation 18,300 18,300 18,300

Expense

Total Operation 811,050 811,050 811,050

Expense

Income: Before Tax 251,630 4,102,746 4,598,973.6

Less: Income Tax 80,521.6 1,312,878.72 1,471,671.55

(32%)
 Net Income 171108.4 2,789,867.28 3,127,302.05

MATERIAL NEEDS OF BANANA PEEL

 Blender- The Blender was used to blend the banana peel.

 Cheese Cloth- Used to filter the banana peel extract to get the pure
concentration.
 Gloves-The gloves were used to protect the hands of the workers during the
experiment and to avoid contaminations in some procedures and for some safety
precautionary measures.
 Alcohols - mainly used in the production of detergents and surfactants.
 Saucepan or Double Boiler: A saucepan or double boiler is needed to heat and
melt the ingredients together. This helps ensure that the components blend
properly and achieve the desired consistency.
 Stirring Utensil: You'll need a stirring utensil, such as a wooden spoon or spatula,
to mix the ingredients as they heat up. This facilitates even distribution and
prevents sticking or burning.
 Blender or Food Processor (optional): If you want to create a smoother texture or
break down the banana peels more thoroughly, you may choose to use a blender
or food processor. This equipment can help in grinding or pureeing the banana
peels before adding them to the saucepan.
 Containers: Suitable containers are necessary for storing the finished floor wax.
Choose containers with airtight lids to maintain the quality and prevent
contamination.
 Labels: It's a good practice to label the containers with the name of the product,
the date of production, and any relevant instructions or warnings.
 Protective Gear (optional): Depending on the specific ingredients and their
handling, you may consider using protective gear such as gloves or an apron to
ensure personal safety during the manufacturing process
H. Personnel
The personnel need more equipment and facilities for production to
accommodate bigger sales. They must possess necessary skills such as being a fast
decision-maker, having the ability to comply with the production quota, being
resilient and flexible, and most importantly, knowing how to think and work under
pressure. In addition to that, the business will provide necessary seminars and
training to increase their skills. The workers will receive specialized training in
production and various other areas of the business. And provide seminars on safety
measures during the course of their work.
All the people they need are available. The business will set a contract to
have a fixed number of personnel and work quotas so that the productivity of the
business will remain stable and consistent. To compensate for some situations
where personnel might request leave, such as sick leave, paternal or maternal leave,
etc. The business will set alternate schedules for workers and provide standby or
part-time personnel in order for the business to remain consistent. With their
benefits, the business provides a monthly food and transportation allowance, SSS
insurance, health insurance, accident insurance, posthumous insurance, retirement
benefits for 5–20+ years of service, and most importantly, a good-paying monthly
salary.

I. Application and Effect of loan or Investment

The owner’s minimum investment needed is pesos capital and minimum of
3,000 bank deposit for reserve with the total of 8,000 pesos. The investment or loan
will be used to start the business. It will be needed to recruit personnel and purchase
the necessary equipment, facilities, and other resources needed for production.
The owners said that the loan makes the business more profitable for the
reason that it gives them immediate cash because even if their business is earning
profits, the money may not be easily accessible as cash, which can be problematic if
they need a quick cash fix. The owners don’t want to miss out on business growth
opportunities because they can’t fund them. And also, the owners don’t have to give
up control of their business to an outside investor, as they would if they got funding
from a venture capitalist or angel investor. However, the investment will provide
financial support as the loan is to the business for a much larger production of
products so that the business can grow easily and consistently. The loan will be
repaid in two years at the minimum. So that the business can balance the profit and
pay the loan in full. But if the owners already have money and more income from
their business than their debt, they can now give what they take and repay the loan
before the given date.
The owners are willing to give up 20 percent of the business to an investor
who can help them deliver their product on a much larger scale and provide facilities
for a much larger production so that the business can maximize the profit that it can
gain, to the satisfaction of the investor.