business plan (company: g3 business sense)

G3 Business Sense

Technological University of the Philippines – Taguig CampusKm. 14 East Service Road, South Super Highway, Western Bicutan, Taguig City

Electronics Engineering Department

In partial fulfilment of the course in

Entrepreneurship

Submitted to:

Engr. Rica Jane Y. Kosca

Submitted by:

John Erick L. Isoy

Sheila May C. Espenida

Carl Von Venice R. Llamas

Mary Jane L. Jamero

Renalyn L. Linatoc

Fernan David M. Isolero

January 2015

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G3 Business Sense

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Beaded

Jewelry

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eur now !!!

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G3 Business Sense

I. The Mission Statementa. Company and Concept

b. The Product Service

c. Vision, Mission, Goals

Mission:

To be the benchmark in creative designs of innovative key chain and I.D holder.

Vision:

To be an “entrepinoy” supplier delivering high quality state of the art products.

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G3 Business SenseII. The Bussiness Management Team

a. The Organization

G3 Bussiness Sense

Mr. John Erick Isoy Mr. Carl Von Venice

Executive Director Executive Director

Fernan David Isolero Renalyn Linatoc Sheila May Espenida Mary Jane Jamero

Assistant Director Assistant Director Assistant Director Assistant Director

Manufacturing Marketing Finance Info and Communications

Workers Sales Persons Assistants Workers

Angelie Catingan Vincent Saruda Shirleen De Ocampo Alyssa Jane Par

Gerome Dumbrige Donnalyn Oliver Angelo Reyes Mervin Acosta

b. The Management Team

The two Executive Directors are the head of G3 Partnership. They are the major stock holder in company.4 | P a g e

G3 Business SenseAssistant Director for Manufacturing is in charge with the manufacturing, production and packaging of the products.

Assistant Director for Marketing is in charge with the marketing procedures to be done, on what strategy will use to sell the products.

Assistant Director for Finance is in charge with the finance of the company. All the in and out money flow will be supervised.

Assistant Director for Information and Communications is in charge with the information dissemination inside and outside the company.

c. Management Compensation and Ownership

III. Production and Operational Plan

A. Operating CylceA.1 Supplier

*DIY Beads

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G3 Business Sense*Pot of Gems*Chains and Beads*Welmansson*Crystal’s for U

A.2 Manpower and Schedule*3 persons @ regular shift*8:00 am to 12:00 pm / 3 days per week*15 minutes break

A.3 Materials and Tools

A.4 Prize

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MATERIALS & TOOLS

G3 Business Sense

A.5 Pre-Production

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HOW MUCH?

PRE-PRODUCTION

TRAINING FOR PERSONNELASSESSMENT ON WHOM ARE ARTISTIC & CREATIVE & QUALIFIED FOR THE POSITION.

G3 Business Sense

A.6 Procedures of Making Key Chain

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PRE-PRODUCTION

Continuation ....

PROCEDURE

JUMP RINGSSNIPE-NOSE PLIERS

ROUND -NOSE PLIERS

FROSTED BEADS

G3 Business Sense

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PROCEDURE

EYE PIN

CUTTER

ROUND BEAD

PROCEDURE

CHAIN

LED RCVR

G3 Business SenseA. 7 Production Planning

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PRODUCTION PLANNING

PRODUCTION PLANNING

* MOQ – Minimum Order Quantity

G3 Business Sense

B. Geographical Location

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PRODUCTION PLANNING

* MOQ – Minimum Order Quantity

PLANT LOCATION & LAYOUT AMAIA SCAPES BGY BARANDAL CALAMBA CITY, LAGUNA

G3 Business Sense

C. Regulatory and Legal Issue

1. Verify and reserve the company name with the Securities and Exchange Commission (SEC) Agency: Securities and Exchange Commission

The name search can be done electronically via the SEC's online verification system, but applicants must pay for the reservation fee on site at the SEC. Once the reserved name was approved by the SEC, it costs PHP 40 for the first 30 days. The company name can be reserved for a maximum of 90 days for a fee of PHP 120, which is renewable upon expiration of the period.

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G3 Business Sense

2. Deposit the paid-in minimum capital at the bank Agency: Bank

According to Section 13 of the Corporation Code, the paid-in minimum capital is 5000 pesos. Even though a certificate of deposit is not a requirement by the Securities and Exchange Commission (SEC) for company registration, this procedure must be completed in order to abide by the applicable law.

3. Notarize articles of incorporation and treasurer's affidavit at the notary Agency: Notary

According to Section 14 and 15 of the Corporation Code, articles of incorporation should be notarized before filing with the SEC.

4. Register the company with the SEC and receive pre-registered Taxpayer Identification Number (TIN) Agency: Securities and Exchange Commission

The company can register online through SEC i-Register, but entrepreneurs must pay at the SEC. The following documents are required for SEC registration:

a. Company name verification slip; b. Articles of incorporation (notarized) and by-laws; c. Treasurer's affidavit (notarized); d. Statement of assets and liabilities; e. Registration data sheet with particulars on directors, officers, stockholders, and so forth; f. Written undertaking to comply with SEC reporting requirements (notarized);g. Written undertaking to change corporate name (notarized).

The pre-registered Taxpayer Identification Number (TIN) is

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G3 Business Senseautomatically obtained from the SEC Head Office upon registration. However, the company must still register with the Bureau of Internal Revenue (BIR) in order to identify applicable tax types, pay an annual registration fee, obtain and stamp sales invoices, receipts and the books of accounts.

Cost: (PHP 2,066.14 filing fee equivalent to 1/5 of 1% of the authorized capital stock or the subscription price of the subscribed capital stock, whichever is higher but not less than PHP 1,000 + PHP 19.26 legal research fee (LRF) equivalent to 1% of filing fee but not less than PHP 10 + PHP 500 By-laws + PHP 150 for registration of stock and transfer book (STB) required for new corporations + PHP 320 STB + PHP 10 legal research fee for the By-laws)

After the taxpayer obtains the TIN, the company must pay the annual registration fee of PHP 500 at any duly accredited bank, using payment form BIR Form 0605).

All newly formed corporations subject to SEC registration are issued pre-generated TIN by SEC-Head Office, which is indicated on their SEC Certificate of Registration. The corporation only has to register its pre-generated TIN with the BIR and report all internal revenue taxes that it expects to be liable for.

The requirements for application for COR with the BIR are: a. Duly accomplished and filled-out BIR Form No. 1903 (Application for Registration for Corporations);b. Payment Form (BIR Form No. 0605); c. SEC Certification of Incorporation;d. Articles of Incorporation and By-laws;e. Contract of Lease (with BIR Form No. 2000 and supporting BIR Payment Form as proof of payment of documentary stamp tax on the lease agreement); f. Documentary Stamp Tax Return (BIR Form No. 2000) on the original issuance of shares and Payment Form (for the DST payment); andg. Mayor’s Permit/Business Permit Application (duly stamped received by the Business Licensing Division of the local government of Quezon City).

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G3 Business Sense5. Obtain barangay clearance

Agency: Barangay

To get the barangay clearance, the following documentary requirements should be submitted to the Barangay: Application form, SEC Certificate of Incorporation and approved articles of incorporation and bylaws, location plan/site map and the contract of lease over the corporation's office.

This clearance is obtained from the Barangay where the business is located. Barangay fees vary in each Barangay since they have the discretion to impose their own fees and charges as long as these fees are reasonable and within the limits set by the Local Government Code and city ordinances. In Taguig City, the fees range from PHP 300 to PHP 1000.The clearance is obtained in one day, provided that the barangay captain is in the office as the captain is the only official authorized to sign.

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G3 Business Sense

6. Pay the annual community tax and obtain the community tax certificate (CTC) from the City Treasurer's Office (CTO) Agency: City Treasurer's Office

The company is assessed a basic and an additional community tax. The basic community tax rate depends on whether the company legal form is a corporation, partnership, or association (PHP 500 or lower). The additional community tax (not to exceed PHP 10,000.00) depends on the assessed value of real property the company owns in the Philippines at the rate of PHP 2.00 for every PHP 5,000.00 and on its gross receipts, including dividends or earnings, derived from business activities in the Philippines during the preceding year, at the rate of PHP 2.00 for every PHP 5,000.00

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G3 Business Sense

7. Obtain the business permit to operate from the BPLO Agency: Business Permits and Licensing Office

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G3 Business Sense

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G3 Business Sense

8. Pay the registration fee and documentary stamp taxes (DST) at the BIRAgency: Bureau of Internal Revenue

The rate of documentary stamp tax on original issuance of shares of stock shall be PHP 1.00 for every PHP 200.00 or fractional part thereof, of the par value, of such shares of stock.

The documentary stamp tax return shall be filed and the tax paid on or before the fifth (5th) day after the close of the month of approval of

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G3 Business SenseSEC registration.

Cost: (PHP 500 registration fee + PHP 5,165.345 DST on original issuance of shares of stock. DST on the lease contract is not included in the computation of the cost)

9. Obtain the authority to print receipts and invoices from the BIR Agency: Bureau of Internal Revenue

The authority to print receipts and invoices must be secured before printing the sales receipts and invoices. The BIR issued Revenue Regulations No. 18-2012 and it became effective on January 18, 2013. It adopted the online system for authority to print official receipts, sales invoices and other commercial invoices. In this regard, all unused or unissued receipts and invoices which were

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G3 Business Senseprinted prior to January 18, 2013 will be deemed valid only until June 30, 2013.

To obtain the authority to print receipts and invoices from the BIR, the company must submit the following documents to the Revenue District Office (RDO):

a. Duly completed application for authority to print receipts and invoices (BIR Form No. 1906); b. Job order;c. Final and clear sample of receipts and invoices (machine-printed);d. Application for registration (BIR Form No. 1903); ande. Proof of payment of annual registration fee (BIR Form No. 0605).

10. Register with the Social Security System (SSS) Agency: Social Security System

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G3 Business Sense

To register with the SSS, the company must submit the following documents:a. Employer registration form (Form R-1);b. Employment report (Form R-1A);c. List of employees, specifying their birth dates, positions, monthly salary and date of employment; andd. Articles of incorporation, by-laws and SEC registration.

Upon submission of the required documents, the SSS employer and employee numbers will be released. The employees may attend an SSS training seminar after registration. SSS prefers that all members go through such training so that each member is aware of their rights and obligations.

11. Register with the Philippine Health Insurance Company (PhilHealth) Agency: Philippine Health Insurance Corporation

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G3 Business Sense

To register with PhilHealth, the company must submit the following documents:a. Employer data record (Form ER1);b. Report of employee-members (Form ER2);c. SEC registration; d. BIR registration; ande. Copy of business permit.

Upon submission of the required documents, the company shall get the receiving copy of all the forms as proof of membership until PhilHealth releases the employer and employee numbers within three months.

12. Register with Home Development Mutual Fund (Pag-ibig) Agency: Home Development Mutual Fund

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G3 Business SenseTo register with the HDMF, the corporation must submit the following documents:a. Employer's Data Form (EDF [FPF040]);b. Specimen Signature Form (SSF[FPF170]);c. Copy of SEC Certificate of Incorporation;d. Copy of Approved Articles of Incorporation and By-laws; ande. Board Resolution or Secretary’s Certificate indicating the duly designated Authorized Representative.

Upon submission of the complete documents and payment of the first contribution to the fund, the Pag-IBIG will issue the HDMF number and the HDMF Certificate of Registration.

13. Department of Labor and Employment (DOLE) – for businesses with five workers or more, register your business with DOLE

IV. Marketing Plan

1. The Product Benefits and Message

A.1 What am I Selling ?

We are selling a mobile phone accessory, named G3, it has a censored that will function when somebody texted you. We come up to this product because we all know that the teen agers now a day is getting to conscious when it comes to their mobile phones. And this accessory will fulfill their wants.

2. The Customers Marketing Share and Sales

A. 1 Product Features

QUALITY – our product is made from cheap materials but good in quality. We assure that all the materials we

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G3 Business Senseare using are not broken to have a good output product. It is one of the most important thing that a costumer and a seller looking for.

DESIGN – our product has no particular design. We can customize or they customize their own design if they want to. As long as, raw materials are provided.

A. 2 PriceWe are selling our product in low price. It can afford by anyone particularly students. It has a discount when you buy a lot of it.

PRICERETAIL 50 pesos / piece

WHOLE SALE 540 pesos/dozen

10 php(beads) + 3 php(battery) + 19 php(sensor) + 3 php(nylon) = 35 + 15 php(profit) = 50 php

In whole selling, we are are giving a 10% discount per dozen

OVERHEAD EXPENSES - P 500.00 OVERHEAD PERCENTAGE- 20%

DIRECT COST - P 1,000.00 MARGIN PERCENTAGE- 20%

MARKED PERCENTAGE - 25%

MARK-UP PRICING B

DC x (Mark % + O.A %) = Mark-up

P1,000.00 (0.25+0.20) = P 450.00

Mark-up + Total cost = Selling price

P 450.00 + P1, 500.00 = P 1,950.00

A.3 Place

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G3 Business SenseWe are planning to sell our product to the students inside our campus, TUP-TAGUIG. We know that it will become popular to our campus because it is a kind of mobile phone accessory that will satisfy a student’s wants.

A. 4 PromotionWe are selling a customize censored accessory. G3 CENCORED will be represented in the design you want. It can be a gift to anyone. Our product is not an ordinary mobile phone accessory, it has a censored that will function when somebody texted you.

3. Marketing Strategy and Tactics

4. Marketing Forecast (5Fs)

A.1 5F of Consumer Needs

FUNCTION OF PRODUCTThis accessory will fulfill their wants. Especially to the teenager. Its has a censor material inside the accessory, it will function when somebody texted you.

FINANCES Even if we are using a cheap and affordable materials, we

can assure you a good quality of our product and your money will be worth it because as an entrepreneur, money has a great value for everyone. We will not allow the costumers to have regrets on buying our product and to waste their money for a low quality product.

FREEDOM

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G3 Business SenseEveryone has a freedom to be an entrepreneur as long as

you have a capital, In selecting products, place, capital and etc..

FEELING As a seller we felt the happiness of being an entrepreneur.

Especially to the customer that highly appreciate and buys our product and also the smile on their face when they saw our products. We are willing to give our best for the product just to make sure that our customers are satisfied and they have no regrets for buying our product.

FUTURE

If we continue on providing this product for our target market, as our business goes by and grow. We could anticipate that we would be able to become successful and provide additional innovations for the need of the market. And we, ourselves would also be satisfied by being happy, providing high-quality products that would make us successful.

5. Marketing Budget

First quarter Second quarter Third quarter Forth quarter0

10

20

30

40

50

60

70

80

FORECASTED SALES

Column1

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G3 Business Sense This table represents our sales in first to fourth quarter yearly. It shows an increasing sales and we are hoping that it will goes by and grow in the coming days, weeks , months or even years.

A. 1 TO WHOM AM I SELLING?

We will sell our product to the students inside our campus or even to the faculty members. The type of business we chose is not hard to sell because it is a new product that will come up to our campus. But if we were giving a chance, we will sell it to an ordinary person outside.

A. 2 HOW DO WE SELL IT?

We were using a direct selling to sell our product. It will be easy for us to convince them to buy our product. We also use social media cite, like facebook for it to see by others.

A.3 WHAT ARE THE DESIRED RESULTS?

We want to give our best for our customers and give the best product that they want to give their satisfaction. We are aiming for a higher income in the future and to make our business larger and larger.A.4 HOW WILL IT COST

SAMPLE MARKETING BUDGET WORKSHEET

Items 1ST QUARTER 2ND QUARTER 3RD QUARTERTOTAL

EXPENSES FOR 2014

BROCHURES P50.00 P100.00 P100.00 1200.00POSTERS P100.00 P180.00 P180.00 2500.00

BROADSHEET 50.00 1500.00PROMOTIONAL

ITEMSP100.00 3000.00

TOTAL COST P150.00 P330.00 P380 10550.00

SAMPLE SALES FORECAST WORKSHEET

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G3 Business Sense

ITEMS Price of

item(s)/

Pcs.

Items to be sold:1st

Quarter

Total sales for 1st

Quarter

Items to be sold:2nd

Quarter

Total sales for 2nd

Quarter

Items to be sold:3rd

Quarter

Total sales for 3nd

Quarter

Total sales for

2014

Cookies P10.00 40 P400.00

50 P500.00

80 P800.00

P1700

Total sales

V. Financial Statement

G3 Business Sense

Financial Statement

For the 1st Quarter 2014

1. Source of Stocks2. INCOME SALES

Sales 50 Php * 450 (pcs.) 22,500 PhpCost of Goods Sold 30 Php * 450 (pcs.) 13,500 PhpGross Profit 3,000 PhpOperating Expenses:

A. Salaries Expense B. Supplies Expense

1. Bond Papers

300 Php * 4 Employees300 Php

3,600 Php300 Php

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G3 Business Sense2. Photo Paper3. Thumb tacks/Paper

Pins4. Glue Sticks

C. Utilities Expense 1. Variety of Beads2. Battery3. Nylon/ Crochets

Thread4. LED/ Sensor5. Long Nose Pliers6. Cutting Pliers7. Printer

D. Insurance Expense E. Depreciation- Equipments F. Miscellaneous Expense

Total Operating Expense:

300 Php * 3 Months10 Php/2 piece * 8 pairs45 Php * 1 roll28 Php/20 pcs. * 8 (packs)75 Php * 4 (pcs.)75 Php * 2 (pcs.)5,000 Php (1 piece)300 Php60 Php 100 Php

900 Php2400 Php 90 Php673 Php300 Php150 Php5,000 Php300 Php60 Php100 Php

13,873 Php

Net Income 8,627 Php

3. BALANCE SHEET STATEMENT

Assets:A. Cash B. Accounts Receivable C. Inventory

1. Beads2. Threads3. LED4. Battery5. SuppliesTotal:

D. Stall Total Assets:

5,000 Php800 Php

4,363 Php1,000 Php11,436 Php

Liabilities:A. Accounts Payable B. Notes Payable

1,000 Php500 Php

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G3 Business SenseC. Accrued Taxes/ Permits D. Unearned Revenue

Total Liabilities:

600 Php500 Php2,600 Php

Stockholder’s Equity:A. Common Stock B. Retailed Earnings

Total Equity:

22,500 Php500 Php8,836Php

4. CASH FLOW STATEMENT

Beginning Cash Balance 5,000 PhpCash Inflow

A. Cash Collections B. Credit Collections C. Investment Income

Total Cash Inflow:

22,500 Php500 Php500 Php23,500 Php

Cash OutflowA. Expenses

1. Transportation Expense2. Advertisements Expense3. Miscellaneous Expense

B. Equipment Purchase Total Cash Outflow:

900 Php600 Php400 Php4,363 Php6,263 Php

Ending Cash Balance -1,263 Php

G3 Business Sense

Financial Statement

For the 2nd Quarter 2014


Sales 50 Php * 450 (pcs.) 22,500 PhpCost of Goods Sold 30 Php * 450 (pcs.) 13,500 PhpGross Profit 3,000 PhpOperating Expenses:

G. Salaries Expense H. Supplies Expense

5. Bond Papers


3,600 Php300 Php

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G3 Business Sense6. Photo Paper7. Thumb tacks/Paper

Pins8. Glue Sticks

I. Utilities Expense 8. Variety of Beads9. Battery10. Nylon/ Crochets


J. Insurance Expense K. Depreciation- Equipments L. Miscellaneous Expense




13,873 Php



Assets:E. Cash F. Accounts Receivable G. Inventory


H. Stall Total Assets:

5,000 Php800 Php

4,363 Php1,000 Php11,436 Php

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G3 Business SenseLiabilities:

E. Accounts Payable F. Notes Payable G. Accrued Taxes/ Permits H. Unearned Revenue

Total Liabilities:

1,000 Php500 Php600 Php500 Php2,600 Php

Stockholder’s Equity:C. Common Stock D. Retailed Earnings

Total Equity:

22,500 Php500 Php8,836Php



D. Cash Collections E. Credit Collections F. Investment Income

Total Cash Inflow:

22,500 Php500 Php500 Php23,500 Php

Cash OutflowC. Expenses


D. Equipment Purchase Total Cash Outflow:



G3 Business Sense

Financial Statement

For the 3rd Quarter 2014


Sales 50 Php * 450 (pcs.) 22,500 PhpCost of Goods Sold 30 Php * 450 (pcs.) 13,500 Php

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G3 Business SenseGross Profit 3,000 PhpOperating Expenses:

M. Salaries Expense N. Supplies Expense

9. Bond Papers10. Photo Paper11. Thumb tacks/Paper

Pins12. Glue Sticks

O. Utilities Expense 15. Variety of Beads16. Battery17. Nylon/ Crochets


P. Insurance Expense Q. Depreciation- Equipments R. Miscellaneous Expense




3,600 Php300 Php


13,873 Php



Assets:I. Cash J. Accounts Receivable K. Inventory

1. Beads2. Threads3. LED4. Battery

5,000 Php800 Php

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G3 Business Sense5. SuppliesTotal:

L. Stall Total Assets:

4,363 Php1,000 Php11,436 Php

Liabilities:I. Accounts Payable J. Notes Payable K. Accrued Taxes/ Permits L. Unearned Revenue

Total Liabilities:


Stockholder’s Equity:E. Common Stock F. Retailed Earnings

Total Equity:

22,500 Php500 Php8,836Php



G. Cash Collections H. Credit Collections I. Investment Income

Total Cash Inflow:

22,500 Php500 Php500 Php23,500 Php

Cash OutflowE. Expenses


F. Equipment Purchase Total Cash Outflow:



G3 Business Sense

Financial Statement

For the 4th Quarter 2014


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G3 Business SenseSales 50 Php * 450 (pcs.) 22,500 PhpCost of Goods Sold 30 Php * 450 (pcs.) 13,500 PhpGross Profit 3,000 PhpOperating Expenses:

S. Salaries Expense T. Supplies Expense

13. Bond Papers14. Photo Paper15. Thumb tacks/Paper

Pins16. Glue Sticks

U. Utilities Expense 22. Variety of Beads23. Battery24. Nylon/ Crochets


V. Insurance Expense W. Depreciation- Equipments X. Miscellaneous Expense




3,600 Php300 Php


13,873 Php



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G3 Business SenseAssets:

M. Cash N. Accounts Receivable O. Inventory


P. Stall Total Assets:

5,000 Php800 Php

4,363 Php1,000 Php11,436 Php

Liabilities:M. Accounts Payable N. Notes Payable O. Accrued Taxes/ Permits P. Unearned Revenue

Total Liabilities:


Stockholder’s Equity:G. Common Stock H. Retailed Earnings

Total Equity:

22,500 Php500 Php8,836Php



J. Cash Collections K. Credit Collections L. Investment Income

Total Cash Inflow:

22,500 Php500 Php500 Php23,500 Php

Cash OutflowG. Expenses


H. Equipment Purchase Total Cash Outflow:



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G3 Business Sense

VI. Summary and Conclusion

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Summary:

This project would only cost a little but can be sold-out at an affordable price to students from Php45-50.00.Students creativity & entrepreneurship skills could be immediately deployed.This would prove that hidden talents & skills could be unleashed to earn a living as a future “Entrepinoy”.

G3 Business Sense

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business plan (company: g3 business sense)

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