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THESIS ABSTRACT Title Author Degree Year Location : A FEASIBILITY STUDY ON THE ESTABLISHMENT OF A LAUNDRY SERVICE CENTER : BELLECA, VIRGINIA ET. AL. B. : MASTER OF BUSINESS ADMINISTRATION : 2003 : ATENEO DE NAGA UNIVERSITY

This report contains the results of a study on the feasibility of establishing a laundry shop service in Villa Corazon Subdivision, Naga City. The proponents of the project include the Ministry of Agriculture and Food (MAF) Camarines Sur Employees cooperative and the principal investigators of this study. This study was undertaken in recognition of the need for laundry services of working and non-working housewives in Villa Corazon Subdivision, Naga City. This need is perceived in the light of some indicators favoring the demand for laundry services in the area, viz.: the increasing scarcity of household helpers; the changing attitudes of maids toward differentiated household chores; and the decreasing number of non-working wives. At the present there are only two (2) laundry shops operating in Naga City. Located within the city's central business district, these shops specialize in various laundry and pressing services, namely: dry cleaning, wash and dry services, express dry, iron/steam press, 1-day rush, 2-day rush and combinations of the above services. It was found that both shops operate at a combined weight capacity of 142,771 kg. Per year which is insufficient to meet needs of households and establishments within the city. In Villa Corazon alone, the target market has a present laundry service requirement of 251,952 kilograms of linen a year. This market captures about 206 households, which, at the time of the study, had no full-time or part-time household helper. Specifically, the research project aimed to: (1) study and assess the laundry service market in the area and identify underlying opportunities and prospects; (2) evaluate technical feasibility of the laundry service shop in terms of the available technology in the area; (3) formulate the market, technical, financial, and management strategies that will successfully launch the project as a profitable venture; and (4) assess the impact of the study in terms of its social contribution to the society and community. The study employed both primary and secondary data generation schemes. Primary data were taken from actual survey of households in Villa Corazon Subdivision, Naga City and personal interviews with the owners/managers of the two existing laundry shops in the city and the local laundry equipment/accessories suppliers. The Naga City Planning Office and the National Statistics Office provided secondary data. Technically, the project is feasible as its features are reasonably defined and found workable, adequate and acceptable. Input resources such as power and water are available in sufficient quantities. There is assurance that the proposed facility's output will satisfy the demand for laundry services in Villa Corazon on a continuing basis. The plant capacity is estimated at 138,883 kilograms of linen per year, which are only 55.12% of the total demand estimated for laundry services in the area.

The financial projections such as income statement, cash flow statement, funds flow and balance sheets all gave viable financial results indicting favorable profit margins in the short and long run. Measures of project worth like Benefit-Cost-Ratio (BCR), Net Present Value (NPV), and Internal Rate of Return (IRR), using a discount factor of 18%, also showed feasible results. The sensitivity analysis performed for the study showed that, even at five extreme conditions where the revenues and costs were made to vary, except for a sales reduction of 65% and a simultaneous increase in operating cost by 50%, estimates indicated that the project could still afford to absorb extreme shocks. The organization and management study revealed that the project could be efficiently managed and operated with only ten (10) personnel. The project has many direct and indirect benefits. The direct benefits would include employment generation, additional income for the proponents and boosting investment in the area. Likewise, the project has many indirect benefits such as the quality time that housewives could devote to their children and spouses which could lead to the development of good values which are crucial in strengthening the moral fiber of the society while increasing productivity levels of Villa Corazon households. The plant and outlet shall be established in Villa Corazon Subdivision, barangay Del Rosario, Naga City. This is about five kilometers away from the city proper and approximately 15-minute drive from the city market. This subdivision is strategically located at the Naga-Pili growth zone and is the place or residence of most government and private employees. The surrounding area is home to four (4) large subdivisions, which Monte Cielo, Jardin de Naga, Villa Grande Homes, and Banco Filipino (BF) Homes. The project's potential worth is Ps 174,238.46 and it has the potential to grow in the future given the earnings it is expected to generate from its operation. The project also aims in the long term to operate profitably for the next five years. Given favorable conditions, the future of its operation to the nearby subdivisions may be considered as viable option. The project shall be financed through a cooperative's equity in addition to a mortgage loan from the Land Bank of the Philippines, the Cooperative Development Authority, or from the Rural Bank of Canaman. The loan component shall bear an interest rate of 18% per annum payable within three equal yearly installments. The three lending institutions were considered because supporting cooperatives is part of their programs. The name of the enterprise shall be 'SURE Laundry Shop." SURE was chosen to convey the desirable characteristics of its services - which of being true, dependable, reliable and secured.

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