I.

Executive Summary

Sintas is a partnership organization since it is owned and operated by more than two
persons who bind themselves to contribute money, property, or industry to a common fund, with
the intention of dividing the profits among themselves. In this case, each partner is liable for any
debt incurred by the partnership. Sintas is composed of five Business Management students
who are currently enrolled at the Ateneo de Naga University namely: Kim Atienza, German
Celeres Jr, Kimberly Contreras, Julia Alexis Peralta and Pamela Joy Reazon.
The Company offers accessories that are unique in such way that it is made shoelace as
the main material and will also use beads, buttons and other stuff to enhance the designs of our
products. Sintas believes that shoelace has its innovative feature that would catch the consumers
interest. It offers stunning and excellent quality wholesale accessories that people can certainly
be proud of wearing. Sintas Bracelets, ID Cords, Necklace, Headband, Keychain, Bow,
Blouse and Hat will be the products to be released as the business strives hard to innovate more
ideas to be offered in the market. Sintas wants to aim a new trend in the field of fashion. Such
innovations will be based on the markets needs and wants on how they respond with it.
Sintas will also be open in using secondhand shoelaces for environment friendly
purposes. This is one of the reasons the company has chosen the Shoelaces as its raw material.
To be proficient enough to double the sale with the use of variety of sales strategy that Sintas
will implement and execute within a month.
As a responsible business, it focuses on giving benefits to its customers. The organization
will not only concentrate on its profitability but also on corporate social responsibility that would
impact on Bicolanos. It also envisions positioning its product as one of the most in-demand

1|Sintas

accessories people would like to buy. Sintas aims for the market within the business territory
would be able to recognize and be aware of what Sintas is offering to the market. As said, our
organization foresees to continue in creating and innovating varieties of accessories to offer to
customers. It hopes to corner a greater share of the market and be recognized and respected as
one of the unique products these days. Its objective is to make people recognize shoelaces not
just for shoe purposes but also in other things.
The production of the product will be done at the Entrepreneurial Building inside the
Ateneo De Naga University campus. Sintas will have a weekly operation and will produce
200 pieces per month or whenever demand is available. Sintas will continue to undertake
research and development initiatives to make competent innovations as feedback comes for the
Sintas Accessories. Sintas will also set a reasonable and affordable price for its targeted
market considering the highest possible quality they could get. The target markets of the
Sintas are mainly identified through psychographics. Market strategies will be applied in
selling the product in order to gain a competitive edge and maximize profit while satisfying
customers with the support of its strategic alliances.
Sintas wants to provide the best quality and unique accessories to its market thats why
we believe that this could be aimed through the right strategy of delivering and presenting the
product to the market. With this, Sintas could assure people that anywhere could they be,
theres a best quality Sintas product they could buy and afford.

II.

Vision and Mission

2|Sintas

This chapter provides information about the present situation of the product, its vision
and mission statements, the short and long term goals and its specific objectives.
a. Present Situation
Everyone has self-esteem needs in order to feel good about themselves. Nowadays,
people find ways to discover unique items in order to express their personalities through
fashion and their unique taste for crafts and designs. According to Maslows Hierarchy of
Needs, Esteem presents the typical human desire to be accepted and be valued by others and
thus whatever is popular in the market people tend to get in. As stated at entrepreneur.com,
Fashion accessories command 10% of the overall fashion market according to the
Accessories Council, an organization dedicated to raising awareness of and demand for
fashion accessories. What people wear often characterizes who they are and what they do
for a living. (BLS Fashion, 2012) Philippine Fashion Bloggers emphasize a lot on the
importance of accessorizing and now being emulated by its followers and also gives rise to
the demand for unique accessories.
According to the Accessories Census of 2011 made by the Accessories magazine in
collaboration of the NPD (National Purchase Diary) Group, Inc. women may have been
looking for a more intimate, personalized shopping experience and thus the business found
opportunity in bringing personalized accessories made out of shoelaces to the masses
transforming it into fashionable items people will be intrigued in buying. The unique concept
will help differentiate the product to other kinds of shopping goods.

A variety of colors,

shapes and designs will also be available to the market.

The production and marketing of the product shall be at the Ateneo de Naga
University where facilities are available. The use of online marketing such as in Facebook
3|Sintas

shall also be infused to cover a wide range of markets. Selling and marketing online is a new
concept that is now open to the market. This new strategy reaches a lot of people all over the
Philippines and also the world that could make the product be easily known over the market.
The business has limited resources at the moment because the partners involved are still
students and cannot generate income of their own. It is not capable of looking for other
means of technology to aid it in the production of the products to make it constant. Since it is
a manufacturing type of business it will have a labor-intensive mode to produce the products.
The business may go through challenges such as limited capital and weak brand image for it
would still be building a good reputation in the society.
A lot of direct and indirect competitors take part at the same product line that the
business has such as businesses that offers balers, macram accessories and the likes. The
fast shifting trends shall also be a threat to the business but there are opportunities today that
it can venture on to make consumers be more attracted to the product. Theme oriented styles
shall be shown frequently to adapt with the latest trends in the market.
The owners also plan to partner with other strategic agencies to help the business with
its marketing opportunities to be recognized and be known to the market, agencies such as
the Department of Trade and Industry, Department of Science and Technology and the Metro
Naga Chamber of Commerce and Industry. These agencies can help the business with
developing the product seeking assistance with information of the latest trends in the market
and also the available bazaars and trade fairs the business can attend to.
b. Vision
Sintas envisions itself to be the most looked forward accessory business that shall
continue satisfying the needs and wants of its market. It will carry on its unique and high

4|Sintas

quality products and would be the top provider of trendy accessories all over the Bicol region
as well as over the country. In time the business foresees to innovate and create a variety of
products to be the trend setters the market would follow. It hopes to capture a greater market
share and to be known as one of the greatest accessory business available.
c. Mission
Sintas aims to differentiate its products from other shopping goods that addresses
the customers needs and wants by offering unique and high quality accessories with
reasonable prices and shall innovate its way by effectively offering new trends through
implementing environmentally friendly practices and share awareness of it to its consumers.
The business shall provide employment opportunities in order to have individuals
show their talents and skills in making accessories having impact to the lives of many.

d. Goals
Sintas is going to achieve the following:
Short-term Goals:
5|Sintas

1.
2.
3.
4.
5.

To innovate various products made of Sintas.

To be competent in having cheaper price against competitors.
To be in demand as an accessory industry in the market.
To maximize the profitability of the business by generating new and repeat sales.
To maintain and grow relationships with consumers.

Long-term Goals:
1. To expand the business around the country as well to the global community through
engaging to an online selling.
2. To sustain trust and loyalty from the consumers we encounter.
3. To improve the products that would satisfy our customers needs and wants.
e. Objectives
1. To maintain products highest quality for longer usage.
2. To exceed the expected sales revenue for approximately 20% increase annually.
3. To provide job opportunities to the community and to the skilled workers in making
accessories.

III.

Company Overview

This chapter provides information about the name, nature and location of the business, its
management team and alliances.
a. Legal Business Description
Sintas is a small business entity which offers accessories that are unique in such a way
that the main component of the products are shoelaces and has its innovative feature that would
catch the consumers interest. Sintas shall be registered at the Department of Trade and
Industry as a sole proprietorship business organization dedicated to fulfill its legal obligations. A
General Partnership shall be observed since partners will be contributing equal assets for the
initial capital of the business, having freely given consent in the development of the business
6|Sintas

proposed. Partners will have the same shares, rights and responsibilities in the operation of the
business. It is owned by five business management students enrolled in ENTM221 Business
Research namely: Kim Atienza, German Celeres, Kimberly Contreras, Julia Alexis Peralta and
Pamela Joy Reazon.

b. Management Team
General Manager:

German D. Celeres Jr.

3 BSBA Business Management
Ateneo de Naga University

Research and Development Manager:

Pamela Joy E. Reazon

3 BSBA Business Management
Ateneo de Naga University

Production and Operations Manager:

Julia Alexis C. Peralta

3 BSBA Business Management
Ateneo de Naga University

Financial Manager:

Kimberly A. Contreras
3 BSBA Business Management
Ateneo de Naga University

Marketing Manager:

Kim C. Atienza

7|Sintas

3 BSBA Business Management

Ateneo de Naga University

GENERAL
MANAGER

PRODUCTIONS
AND
OPERATIONS
MANAGER

MARKETING
MANAGER

FINANCIAL
MANAGER

RESEARCH &
DEVELOPMENT
MANAGER

Figure 1: Sintas Organizational Structure

The following are the qualifications and functions of each:

General Manager
Job Summary
The General Manager is in charge of the over-all work process of the business. S/he
exudes multi-tasking capabilities in order to assess, organize and implement the strategies
needed. S/he must be good at critical thinking to plan and apply effective decisions for the
business.
Job Specification

8|Sintas

1. S/he must be at least 28 to 40 years old.

2. S/he must be a graduate of any 4 year business course preferably Bachelor of Science in
Business Administration Major in Management.
3. S/he should have previous work experience related to the business.
4. S/he must Posses values such as leadership, flexibility, integrity and creativity.
5. S/he must have good communication, decision making and managerial skills.
Job Description
1.
2.
3.
4.
5.

S/he must be overall in charge in the business.

S/he must oversee daily activities of the business.
S/he must evaluate performances of each subordinate.
S/he must represent the business for external affairs.
S/he must implement the companys policies and procedures with the support of his

subordinates as to implementing it as well.

6. S/he must be responsible for planning, organizing, leading and controlling functions.

Production and Operations Manager:

Job Summary
The Production and Operations Manager is in charge of over-all facilities used in the
manufacturing of the product. S/he must be familiarized in the production process including
managing employees to meet the desired number of products in one operation ensuring high
quality products produced.
Job Specification
1. S/he must be at least 25 to 40 years old.
2. S/he must be a graduate of any 4 year business course preferably Bachelor of Science in
Business Administration Major in Management.
3. S/he must have previous work experience.
4. S/he must be time conscious to effectively meet the target demand.
5. S/he has to be open and can perform under pressure at right cost and at right level of
quality.

9|Sintas

6. S/he must have leadership skills, strong organizational and planning abilities, and
analytical in problem solving to implement effective strategies for every production.
Job Description:
1.
2.
3.
4.
5.

S/he must plan, control, and implement production processes for efficient operation.
S/he must supervise production staff and workers.
S/he ensures that goods and services are produced efficiently at right schedule.
S/he must record production capacity and keeps an inventory of the raw materials.
S/he must check the finished products and its packaging.

Marketing Manager
Job Summary
The marketing manager must be creative in nature. S/he must formulate strategies that
may bring about new ideas to provide a unique branding over competitors. S/he must be aware of
the different trends in the market including strategies from competitors and combat them to
create a more attractive strategy for the customers. The marketing manager should have good
interpersonal skills and can easily relate to the people.
Job Specification
1. S/he must be at least 25 to 40 years old.
2. S/he must be a graduate of any 4 year business Course preferably Bachelor of Science
in Business Administration Major in Marketing Management.
3. S/he must have good interpersonal skills and is able to effectively communicate to
potential buyers or customers.
Job Description
1. S/he must formulate marketing strategies to attract potential buyers.
2. S/he must determine demand for products and services offered by a firm and its
3.
4.
5.
6.

competitors.
S/he must monitor trends that indicate the need for new products and services.
S/he must be familiar and up to date with the latest trends in the society.
S/he must establish marketing strategies to meet organization objectives.
S/he must develop pricing strategies to maximize firm's profits or market share.
10 | S i n t a s

7. S/he must analyze marketing trends, tracks competitors activities in providing product
enhancement.
Financial Manager
Job Summary
The Financial manager is responsible for the financial system of the business. S/he must
be analytical and critical in managing financial statements. S/he must be able to properly
interpret results and provide communication to help the business come up with effective and
efficient use of its resources.
Job Specification
1. S/he must be at least 25 to 40 years old.
2. S/he must be a graduate of Bachelor of Science in Accountancy.
3. S/he must be knowledgeable in accounting especially preparation of financial statements.
4. S/he must know how to analyze and communicate effectively the financial statements.
Job Description
1. S/he must ensure that the working capital is properly allocated.
2. S/he must report weekly income during meetings and prepares monthly financial
statements.
3. S/he must prepare liquidation reports.
4. S/he must provide financial advice and support to clients and colleagues to enable them
to make sound business decisions.
5. S/he must organize the organizations financial reports; oversee investments and funds for
future studies.
6. S/he must be responsible for the efficient use of financial resources in the production and
sales of the product

Research and Development Manager

Job Summary
The Research and Development Manager creates and develops products in accordance
with market demands. S/he researches and develops new or improved product lines. S/he must
also handle designing and commissioning new ideas based from his/her research.
Job Specification
11 | S i n t a s

1.
2.
3.
4.
5.

S/he must be at least 25-40 years old.

S/he must be a graduate of 4 year business course.
S/he must be familiarized with the skills and abilities needed by the business.
S/he must experience working in a flexible, employee empowering work environment.
S/he must be patient in conducting research and is knowledgeable in developing new

ideas.
6. S/he must have a good managerial and employee empowerment skills.
Job Description
1. S/he must be good designing and developing new products and processes in accordance
with market demands.
2. S/he must prepare and submit periodical reports to the management according to the
research and development progress.
3. S/he must assist in updating the business brochures and catalogues.
4. S/he must coordinate with concerned departments to update the product range with the
developed specifications.
5. S/he must perform complete review, verification, validation for new products to ensure
conformity to requirement and fitness for use.
c. Strategic Alliances
The business shall make its effort to find prospective agencies that can help them in their
registration, promotions, product distribution and facility development processes.

Department of Trade and Industry (DTI)

The Department will provide the business the necessary protection and development of
the product offered in connection with its label and packaging. It enables businesses to be
exposed into the market by giving information about current trade fairs and bazaars encouraging
involvement within and outside the City of Naga.

Department of Science and Technology (DOST)

12 | S i n t a s

The Department provides scientific and technological efforts ensuring the utilization of
programs and projects to support national development. The department shall help the business
by its promotion materials assistance program and through its DOST Expositions and Fairs.

Metro Naga Chamber of Commerce and Industry

The business organization will provide latest news about the available trade fairs and
bazaars happening around Metro Naga in support of the local commercial and industrial sectors
in Bicol. It shall be the voice of the business in the business community for socio-economic
development of Metro Naga and the Bicol Region.

Naga City Peoples Mall

The mall will provide the business with the necessary materials needed to produce the
products like the shoelaces which are the main item used in the business. It is where the business
can find affordable resources that would aid in the cost effectiveness of the product being
offered.

Fashion Jewelry Beads and Components

This will be the establishment that will be the companys supplier on its embellishments
(beads, studs, buttons, chains etc.) for the accessories and crafts.

13 | S i n t a s

IV.

Product Strategy

This chapter provides information about the product to be offered its research and
development and its production and delivery process.

a. Current Product
The business shall be called Sintas a Filipino word for shoelaces also called
shoestrings or bootlaces that are usually used to secure shoes, boots and other footwear. But the
group came up and thought of its other use in making it as the main material in our accessories.
Traditional shoelaces were made of cotton, leather, hemp, jute or other materials used in the
manufacturing of rope and now days there are various synthetic fibers that is often incorporated
in modern shoelaces that can be used to create uncommon products.

14 | S i n t a s

Sintas mainly offers solitary and personalized accessories such as Bracelets,

Headbands and ID Cords generally made out of different colored shoelaces with unique
embellishments attached to it.Sintas envisions itself to be the most in demand and top provider
of accessories better than the others. The group shall take consideration the consumers needs and
wants in coming up with more innovative types of accessories to be offered in the market. The
product shall also be open for personalized designs coming from the consumers since they can
choose from a wide variety of add-on designs such as beads, charms, studs and spikes. Sintas
wants to establish variety by coming up with themed collections offered to the market such as
Christmas, Halloween, Summer Holidays and so.
Shoelaces as the main material in making accessories for a business is unique in itself to
provide people a product which they are willingly to buy that would make them different among
the other accessory users. Shoelaces are perceived as an ordinary thing used by individuals in
everyday living but the business wants to innovate and re-introduce its function by creating
something other than the ordinary. They are quite sturdy when used but can be a trend to the
masses since people are attracted to unique accessories. They come in all different shapes, sizes,
colors and designs to give each unique consumer a way of expressing themselves through
Sintas.

b. Research and Development

The business shall conduct surveys including personal interview and questionnaires to
have feedback for the enhancement of the product and the consumers preference.
Sintas group have also researched over the internet, with the use of the site called
YouTube, on how to make different accessories such as ID Cords, Bracelets and Headbands as

15 | S i n t a s

our main product. Watching different videos over YouTube gave us the idea on how to produce
and be more creative in making shoelace accessories.
The business owners shall also attend available workshops and seminars for the
development of managerial and strategic skills. It shall engage in trainings to discover ways on
how to improve its product appearance through its packaging, finding interesting designs,
evaluating market needs and wants and also updates of the latest trends with our direct and
indirect competitors.
The business would be flexible enough in responding to the changes that would occur in
the society. It is upon the volume of demand itself or with the new trends that can be seen in the
society that our business could be inspired of creating new designs. Sintas would be giving
attention and importance on time management to effectively do the job in providing people the
highest quality accessory they could get. This is subjected on the companys quick response to
the need for improvement and as well as in creating the product in as fast yet best quality it could
get.
Sintas will always develop exciting features and designs throughout its existence. The
group will be dedicated in serving the people by providing them the hippest and coolest
accessories they could wear in best form. Research for further improvements shall always be a
priority since to meet what the market demands is also to know how it will change in future time.

16 | S i n t a s

Figure 2:

Company Logo

17 | S i n t a s

Figure 3: Sample Bracelets

Figure 4: Sample Necklace

Figure 5: Sample Keychain

18 | S i n t a s

Figure 6: Sample Necklace/Headband

Figure 7: Sample Hat

Figure 8: Sample Bow

19 | S i n t a s

Figure 9: Sample Blouse

Figure 10: Sample ID Cord

Figure 11: Label and Packaging

c. Production and Delivery
20 | S i n t a s

Since the nature of the business is manufacturing, the production site will be at the
Entrepreneurial building of Ateneo de Naga University. The operations manager will ensure that
the production will meet its expected output for a given period of time.
In a view of the fact that, the Sintas Company produces different kinds of accessories
which will be in demand later on as the business grows following its trend aim, the shoelaces
will be made and processed into different kinds of accessories. Different variations/sizes and
colors of shoelaces will be glued/tied properly in a way that the accessory will last longer.
Different colors will be given for gender verification. Labeling will be ensured for every product
with the Company logo for its identity. The basic production processes for each are as follows:
Bracelets:
1 Prepare all the needed raw materials and equipment.
2 Make a knot in between the shoelace
3

Use the wax cord and make 4 square knots. Insert 1 bead on each end of the wax cord and
repeat.

Leave at least 3inches before you reach the other end

Tie the two ends of the wax cord together add a drop of glue to secure the knot. Cut the
ends after.

Join the 2 ends of the shoelace and make a square knot using the wax cord to form a
sliding knot

Put the label.

ID Cord:
1. Prepare all the needed raw materials and equipment.

21 | S i n t a s

2. Cut the shoelace (from the aglet)2 inches.

3. Insert both ends into the ID lock.
4. Stitch/sew or glue it to secure it.
5. Insert the part that has been cut awhile ago into the other side of the ID lock.
6. Before Stitching/sewing it to secure it, insert the hook for the ID.
7. Make it secured and glued up.
8. Put the label.
Keychain:
1.
2.
3.
4.

Prepare all the needed raw materials and equipment.

Hold both shoelaces together with ends even and fold them in half.
Place the loop at the half way point in the shoelaces over the bottom of the key ring.
Grasp the ends of the shoelaces and bring them around the back of the key ring. Push the

ends through the loop of the shoelaces. Pull the ends tight to attach it to the key ring.
5. Tape the key ring to a work surface to secure it.
6. Separate it with two centre laces going straight down from the key ring and a left
shoelace extending out toward the left & a right shoelace extending out toward the right.
7. Slide the first pony bead onto the two centre laces.
8. Tie a square knot under the pony bead with the two outer laces (right lace over the left
lace for the first half of the knot and then the left lace over the right lace for the second
half of the knot).
9. Add another pony bead onto the two centre laces.
10. Repeat Steps 7 and 8 until the key chain is 3 or 4 inches long.
11. End the key chain with a bead.
12. Take all four laces and tie them in a tight overhand knot to finish the key chain.
13. Put the label.

22 | S i n t a s

Hat:
1.
2.
3.
4.
5.
6.
7.
8.

Prepare all the needed raw materials and equipment.

Cut 2 pcs. of shoelaces with a length no longer than 2-3 inches.
Glue the tips together.
Then Glue the 2 pcs. of shoelaces together to make a bow figure.
Cut a 2 inch. shoelace then glue it at the center of the bow.
Then wrap the shoelace around the bottom part of the hat.
Glue it to secure it. Then glue the ribbon you made earlier.
Put the label.

Bow:
1.
2.
3.
4.
5.
6.
7.

Prepare all the needed raw materials and equipment.

Cut 2 pcs. of shoelaces with a length no longer than 3-4 inches.
Glue the tips together.
Then Glue the 2 pcs. of shoelaces together to make a bow figure.
Cut a 2 inch. Shoelace then glue it at the center of the bow.
Glue the finished bow into the hair pin.
Put the label.

Blouse:
1.
2.
3.
4.

Prepare all the needed raw materials and equipment.

Insert the shoelace into the chain.
Glue the shoelace into the chain the chain for security.
Start sewing it into the rim of the shirt until everythings intact to the shirt. (For the

second chain the spacing should be a bit lower)

5. Put the label.
Necklace:
1.
2.
3.
4.
5.
6.

Prepare all the needed raw materials and equipment.

Insert beads into the eye pins and close.
Join together the eye pins.
Place jump rings on each end
Attach the shoelace to the jump ring
Cut the shoelace at the middle

7. Join the 2 ends of the shoelace and make a square knot using the wax cord to form a
sliding knot.
23 | S i n t a s

8. Put the label.

Headbands/Necklace:
For the beaded one:
1.
2.
3.
4.
5.
6.
7.

Prepare all the needed raw materials and equipment.

Color the wooden beads into different color.
Allow the paint to dry.
Insert the beads into the lace.
Glue it to secure it.
Sew a 3 inch garter to bond the two ends
Put the label.

For the braided one:

1.
2.
3.
4.
5.
6.
7.

Prepare all the needed raw materials and equipment.

Leave 2 inches from the tip then tie the 3 shoelaces to secure it.
Then start braiding it.
When there are only 2 inches left tie a knot to secure it.
Start sewing the braids in the middle for security.
Sew a 3 inch garter to bond the two ends
Put the label.

24 | S i n t a s

Prepare the raw materials and Equipment

1 minute

Make a knot in
between the
shoelace

2 seconds

Use the wax cord, make

4 square knots. Insert 1
bead on each end of the
wax cord, repeat.

8 minutes

Leave at least 3inches before you

reach the other end

2 seconds

ends of the wax cord together add a drop of glue to secure the knot. Cut the ends after.

10 seconds

nds of the shoelace and make a square knot using the wax cord to form a sliding knot

1 minute

Put the label.

15 seconds

Figure 12: Bracelet Making Process

25 | S i n t a s

Prepare the raw materials and Equipment

Cut the shoelace;

2 inches.

1 minute

30 seconds

Insert both
ends into the
ID lock.

1 minute

Stitch/sew or glue it to secure it.

3 minutes
Insert the part that has
been cut awhile ago into
the other side of the ID
lock.

1 minute

Before stitching it to
secure it, insert the
hook for the ID.

3 minutes

Make it secured and glued up.

1 minute

Put the label.

15 seconds

Figure 13: ID Cord Making Process

26 | S i n t a s

Prepare the raw materials and Equipment

1 minute

Hold both shoelaces together with ends; fold them in half.

3 seconds

Place the loop at the half way point over the bottom.

5 seconds

Grasp the ends of

the shoelaces; Push
the ends through the
loop; Pull the ends
tight.

Tape the key ring to secure it

Tie a square
knot with the
two outer
laces and
repeat steps.

10 seconds

5 seconds

2 minutes and 20 seconds

End the key chain

with a wire.

Take all four

laces and tie
them.

15 seconds
8 seconds
15 seconds

Put the label

Figure 14: Keychain Making Process

27 | S i n t a s

Prepare the raw materials and Equipment

1 minute
Cut 2 pcs. of shoelaces with a length no longer than 3-4 inches.

40 seconds

Glue the tips

together.

10 seconds

Then Glue the 2

pcs. of shoelaces
together to make
a bow figure.

5 seconds

Cut 2 inches of shoelace then glue it at the center of the bow.

20 seconds

Then wrap the shoelace

around the bottom part of
the hat.

Glue it to secure it

Glue the
ribbon you
made earlier.

Put the label.

1 minute

25 seconds

3 seconds

15 seconds
Figure 15: Hat Making Process
28 | S i n t a s

Prepare the raw materials and Equipment

1 minute
Cut 2 pcs. of shoelaces with a length no longer than 3-4 inches.

40 seconds

10 seconds

Glue the tips together.

10 seconds

Then Glue the 2 pcs. of shoelaces together to make a bow figure.

Cut 2 inches of shoelace then glue it at the center of the bow.

5 seconds

20 seconds

Then wrap the shoelace around the bottom part of the hat.

1 minute

Glue it to secure it

Glue the ribbon you made earlier

25 seconds

3 seconds

15 seconds

Put the label.

Figure 16: Bow Making Process

Prepare the raw materials and Equipment

29 | S i n t a s

1 minute

Insert the
shoelace into
the chain.

1 minute

Glue the shoelace into the

chain the chain for security.

Start sewing it into

the rim of the shirt
until everythings
intact to the shirt.

45 seconds

1 minute and 30 seconds

Put the label.

15 seconds

Figure 17: Blouse Making Process

Prepare the raw materials and Equipment

1 minute
30 | S i n t a s

Color the wooden beads into different color.

1 minute and 30 seconds

Allow the paint to dry.

Insert beads into the

lace

Glue it to secure it.

Sew a 3 inch
garter to
bond the two
ends

Put the label.

2 minutes

1 minute and 15 seconds

3 seconds

2 minutes

15 seconds

Figure 18: Headband/Necklace Making Process - For the Beaded One

Prepare the raw materials and Equipment

1 minute
31 | S i n t a s

eave 2 inches from the tip then tie the 3 shoelaces to secure it.
30 seconds

Then start braiding it.

1 minute

When there are only 2 inches

left tie a knot to secure it.

1 minute

Start sewing the braids in the

middle for security.

2 minutes

Sew a 3 inch garter

to bond the two ends

Put the label.

2 minutes

15 seconds

Figure 19: Headband/Necklace Making Process - For the Braided One

Prepare the raw materials and Equipment
1 minute
32 | S i n t a s

Insert beads into the eye pins and close.

Color the wooden beads into different color.

6 minutes

5 minutes

Join together the eye pins.

Place jump
rings on each
end

5 seconds

Attach the
shoelace to
the jump ring

10 seconds

Cut the
shoelace at
the middle.

2 seconds

Join the 2 ends of the

shoelace and make a square
knot using the wax cord to
form a sliding knot

1 minute

Put the label.

15 seconds

Figure 20: Necklace Making Process

Activities

Nov

Dec

Jan

Feb

Mar Ap
r

May June July Au

g

Sep

33 | S i n t a s

Oct

1.Brainstorming
2. Making of
Business Plan
3. Outsourcing
of supplies
4. Seeking for
support from
business
organizations
5. Market testing
6. Business plan
corrective actions
and revisions
7 . Introducing the
Product
8. Registration of
business
9. Start of the
operations
10. Re-assessment
and product
diversification

Table 1: Gantt Chart of Sintas

Table 1 explains the time table of the group in conducting their activities throughout a
whole year.

34 | S i n t a s

Sintas will conduct brainstorming activities in the month of November on how the
product would be competitive enough in the market as well as on what kind of accessory shall be
offered. The group shall also start making the business plan as scheduled on the months of
November until March to have its guide in implementing future plans to achieve the goals and
objectives. Outsourcing of suppliers, seeking support from business organizations and market
testing shall all be implemented in the months of December to January since the holiday shall be
perfect for the group to market the product for further studies on how the production, marketing
and selling strategies should be applied. Business plan corrective actions and revisions shall also
be observed in the months of January til April before introducing the product to the market in the
month of April. The registration will happen in the month of June as the new semester has to
start. Start of operations will happen from the month the product shall be introduced until the
month of October in the year of 2013. The group shall re-asses the product and shall exercise
diversification in the month of August to further study on how the product went out after it has
been introduced to the market.

V.

Market Analysis

35 | S i n t a s

This chapter provides information about the product, the target market, customer profile,
competition, demand and supply analysis and the risks involved in the business.

a. Market Definition
Sintas foresees to provide a vast crowd in the future. It will look forward to gratify
potential markets and increase market access to broaden market segment in the local trade. The
business wants to focus on three types of markets which are: online market which are the
individuals who uses internet, outside market which is considered Naga City and the Province of
Camarines Sur and the inside market which is mainly composed by the population of Ateneo de
Naga University. This is for the reason that this markets will provide the business an opportunity
in marketing and promotion of the products. This will be a marketing message to attract
customers, the students and employees of the academe as well. The owners recognized this
market which is inside the university because it is readily available for the business and they are
the actual market where the stall of the business is located.

b. Customer Profile
Sintas will be persistent to make a name and be recognized by the market. The owners
are assured to offer quality accessories in to an extensive market by the use of product
innovations, development and differentiation.

The customers of the business will be segmented as to:

36 | S i n t a s

1. Psychographics
Sintas targets those people, who has a need for self-expression, has an aesthetic
appreciation for beauty, are young at heart, loves accessorizing and are environmentalists.

2. Demographics

Gender
Products offered will be for both male and female customers.

Income
The products of the business are very affordable and can be purchased by any

individual who earn enough monthly salary and has thecapability of purchasing the
product. Considering the online market, we can cater to a lot of prospective buyers
having this kind of expected income. The university is also one place we can have
prospective buyers since it includes individuals having middle to upper income earners or
at least has the capacity to purchase the product considering their allowances and income.

Age
The business identified that it could cover different ages from children to elders.

But for the mean time, the owners are determined to focus more on the actual market of
the university which is primarily constituted by both young adults and elders.
c. Competition
Sintas offers unique features but the owners will take into consideration competitors
who are offering the same products or any related products.

37 | S i n t a s

In Naga City, the local community, the business has noticed the increasing number of
online shops. As a commercial and legal (pending) business, the owners of Sintas are
confident of the edge of the business over them not only because Sintas can be up for an
online shop as well but also because of the products affordability. Moreover, the marketing
manager will engage in information dissemination about the products in order for them to be
aware. Another type of competitors the business shall observe are the local Establishments
offering accessories such as in Department Stores and Specialty Gift shops within the Metro.
Sintas would definitely be experiencing the pressure and competition in the market when its
already introduced.
A direct competitor of the business would be BayCrafts since they offer accessories
which are both ready-made and also personalized upon the interests of its buyers. The business
also has Fleur-de-lis Enterprise and Trendy Options as its direct competitors since the businesses
stated also provide the market with customized accessories and are also main sources of tools in
crafting. Another threat would be those indirect competitors such as establishments who offer
ballers, other types of cords, watches and other types of accessories.
As a new accessory business Sintas would be competitive in various ways in order for
it to achieve its desired goals and objectives in no time.

d. Demand and Supply

The accessory industries have always been important complements to the apparel
industry. Nowadays the demand for accessories is growing every single day. To gain a better
38 | S i n t a s

understanding of the demand for accessories it is the purpose of this research to estimate
expenditure equations for accessories and to profile the consumer characteristics of the
purchasers and non-purchasers of these items. Considering how the market will embrace our
product, the business is confident enough that there will be a great demand on accessories that
the business is going to offer. Since we have noticed that the market today is very much
interested in trying out unique and inventive product, we can say that our product is one of those
state-of-the-arts products that consumers wanted to try because of its distinctive styles that
matched with colorful shoelaces. The availability of the raw materials is sufficient enough in
case of a change in the demand and supply of the product.

The buyers determine the demand while the sellers determine the supply. Factors such as
their preferences (consumers taste for unique accessories depend on the occasion), expectations
(future income/prices will affect the demand today), technology (if there is a use of modern
technology) etc. Accessories demand and supply will tell how or how much to change in the
production process and what to do in such situation.

The business will conduct a survey in the area of the target market both inside and
outside the school premises. The following are the survey questions:

Table 2: Household Population by Age, Sex and City, 2007

Age Group and
City(Naga City)

Both Gender

Male

Female

39 | S i n t a s

12-14
15-19
20-24
25-29
30-34
35-39

18,069
18,357
14,926
12,754
10,664
9,796

9,721
9,126
8,726
6,266
5,187
4,783

9,158
8,943
9,621
6,488
5,477
5,013

Source: http://www.naga.gov.ph/cityprofile/demog.html

SLOVINS FORMULA
n = N / [1 + N(e)2]
N = Total population
n = Sample Respondents
e = Margin of error
Solution:
n = 126,476 / [1 126,476(.052)]
n = 398.7389262 (400)

With this, our sample size is 400.

40 | S i n t a s

Figure 21: Do you allot budget for accessories and crafts?

Figure 21 shows that 90% of the population ages range from 12-29 that buy accessories
and crafts are female and the remaining 10% are Male who usually does not spend money for
accessories or crafts.

2.8

Figure 22.1: Do you love buying accessories and craft? (For ages 12-29)
41 | S i n t a s

Figure 22.1 shows that 85% of the respondents are likely to buy accessories and crafts based
on the question Do you love buying accessories and craft? The 15% are respondents who do
not allot budget for accessories and craft because they prefer to buy other things. This implies
that the demand for accessory and crafts is still available in the market.

Figure 22.2: Do you love buying accessories and craft? (For ages 29-39)

Figure 22.2 shows that 80% of the respondents ages 27-39 years old would buy
accessories and crafts made out of shoelaces. This implies that there is a possible market in the
said age bracket.

42 | S i n t a s

1.5
2.5

2.5

2.5
1

Figure 23: Rank the following according to your prioritize expenses.

It is illustrated in Figure 23 that the Food, Transportation and School Supplies has the
same 25% , these are the priority expenses of the respondents because these are there basic
needs, the 15% is for the Cell phone Load that they spend for communication purposes and the
remaining 10% is for the Personal Luxury (Accessories, Clothes etc.). This implies that the
market prioritizes convenience goods over shopping goods but the business will make an effort
to let the consumers be intrigued in the products being offered.

43 | S i n t a s

1
1
4
1.5

1.5

Figure 24: What kind of accessory or craft do you usually purchase?

Figure 24 shows that Bracelets are more in demand from the other accessories having a
40% of the total, the next is the Necklace 20%, the Earrings and Headband has the same
percentile of 15% in the graph and the ID cord and Key Chain has the lowest percentage of 5%.

44 | S i n t a s

2.8

8.5

Figure 25: Would you buy such accessory or craft made of Shoelace or Sintas?

Figure 25 shows the number of respondents who said Yes or No for the demand to try
accessories or craft made of shoelace or sintas, for the reason that they want to try different
designs of accessories or craft, 85% choose Yes and these are the respondents who would prefer
to buy accessories or crafts because shoelace accessories or craft is unique to them.

45 | S i n t a s

1.5

5.5

Figure 26: How much money do you usually spend for an accessory or craft?

According to the survey results, 55% of the buyer of accessories or craft usually spend 20
pesos or below. The 20% of the respondents are willing to buy accessories or craft with the
amount of 51-100 pesos, 10% of the graph has the amount of 30-50 pesos and the other
respondents who are eager to buy accessories or craft is 15% with the amount of 100 pesos and
above. This implies that the market wants accessories that are more affordable. Most respondents
are students and they do buy accessories on a minimal rate.

46 | S i n t a s

e. Risks
The business identified uncertainties that could possibly affect the operations of the
business. These are the following:

1. Weather/ Calamities
In cases of calamities such as in typhoons and earthquakes the supply of the raw
material will be affected. To address this concern the business shall make sure that there
is sufficient number of supplies in stock but taking into consideration the appropriate
amount to prevent deterioration of unused stocks. To continue with the production, the
business shall find other sources of raw materials so that there can be selections to decide
from. The business shall make an effort to discover other places which are not affected by
the calamity.

2. Competition
The business has direct and indirect competition it needs to address like with
other Income Generating Projects located inside the University which offers a variety of
products and also competitors who are in online selling that also offers accessories. The
market share of the business may be affected due to the products offered by the
competitors. The business shall showcase its strengths such as affordability of its product
and also its marketability. Strategies will be employed such as making the product eyecatching through developing different designs and strict quality compliance shall be
observed.

47 | S i n t a s

3. Financial Requirements
The owners of the business are students and have no source of income just yet.
They are dependent upon their parents for their expenses. Thus, there is the risk of delay
in raising the needed amount for the capital of the business. To address this concern the
owners can seek financial help from different alliances or choose debt financing
alternatives.

48 | S i n t a s

VI.

Marketing Plan

a. Price Strategy
Developing an effective price strategy, the business will consider costs, expenses, supply
and demand, and the competition. The business has chosen Cost Plus Pricing, the simplest and
most widely used pricing technique, as the way of calculating and coming up with a reasonable
price.
Selling Price = Cost + Markup

Unit Cost

Variable cost +

Cost
Estimated Unit

Mark-up

Unit Cost
1desired return on sales

Source: Stevenson, Operations Management 10th Edition

Manufacturing Cost of Sintas Blouse per piece

Direct Materials
Shoelaces
Blouse
Chain
Instant Glue
Thread

P25.00
60.00
45.00
.15
.03

Total Direct Materials

Direct Labor
Factory Overhead (Packaging)
Total Manufacturing Cost of Materials

P130.18
5.00
.04
135.22
49 | S i n t a s

Total Market Price (35%)

182.547

P 185.00

Manufacturing Cost of Sintas Keychain per piece

Direct Materials
Shoelace
Metal ring
Wire
Glue Stick

P15.00
5.00
.50
.06

Total Direct Materials

P20.56

Direct Labor

3.00

Factory Overhead (Packaging)

.04

Total Manufacturing Cost of Materials

23.60

Total Market Price (40%)

P33.04

P35.00

Manufacturing Cost of Sintas Hat per piece

Direct Materials
Shoelace
Hat
Glue Stick
Total Direct Materials
Direct Labor
Factory Overhead (Packaging)
Total Manufacturing Cost of Materials
Total Market Price (25%)

P35.00
30.00
.06
P65.06
2.00
.04
67.10
P83.88

P85.00
50 | S i n t a s

Manufacturing Cost of Sintas Bow Hair Clip per piece

Direct Materials
Shoelace
Glue Stick
Hairpin

P8.75
.06
5.00

Total Direct Materials

P13.81

Direct Labor

2.00

Factory Overhead (Packaging)

.04

Total Manufacturing Cost of Materials

P15.85

Total Market Price (50%)

P23.78

P25.00

Manufacturing Cost of Sintas Headband/Neckalce per piece

Shoelaces
Garter
Total Direct Materials
Direct Labor
Factory Overhead (Packaging)

P25.00
4.00
P29.00
2.50
.04

Total Manufacturing Cost of Materials

P31.54

Total Market Price (25%)

P39.43

P40.00

51 | S i n t a s

Manufacturing Cost of Sintas Bracelet per piece

Direct Materials
Shoelace
Beads
Wax Cord
Glue

P4.00
1.20
10.00
.10

Total Direct Materials

P15.30

Direct Labor

3.00

Factory Overhead

.04

Total Manufacturing Cost

P18.34

Total Market Price (75%)

P32.095

P35.00

Manufacturing Cost of Sintas ID Cord per piece

Shoelaces
ID lock
ID hook
Bottle Cap Pin
Total Direct Materials
Direct Labor
Factory Overhead (Packaging)
Total Manufacturing Cost of Materials

P17.50
5.00
5.00
25.00
P52.50
7.00
.04
59.54

52 | S i n t a s

Total Market Price (40%)

P83.356

P85.00

Manufacturing Cost of Sintas Necklace per piece

Direct Materials
Shoelace
Beads
Metal Findings
Wax Cord
Glue

P4.00
15.00
10.00
2.00
.10

Total Direct Materials

P31.10

Direct Labor

5.00

Factory Overhead
Total Manufacturing Cost
Total Market Price (35%)

.04
P36.14
P48.80

P50.00

b. Sales Management
For the business to venture on success it should acquire revenue by having good sales
management. Having Sales management sets focus on the practical application of sales
techniques and management in an entitys sales operation. It is an important business
function as net sales through the sale of products and services and resulting profit drive most
businesses.
The marketing manager shall take charge in the sales management aspect of the
business since it is the closest role that can be associated to it. The sales manager will be
53 | S i n t a s

responsible for the sales planning, human resources, leadership and the control of resources.
Sales management is a gauge whether or not the strategies being used are effective and
attains the targeted goals. To have an effective sales management it requires having to share
responsibilities to assess and find problems in the sale process of the business.
The business should focus on effective sales management since customers are very
keen and conscious on what products they will buy and some of them also place judgment
upon how the product is presented to them. Therefore, if the business shall observe proper
sales strategies and techniques it will be a guarantee that the product being offered will be
with great demand.
c. Distribution Channel
The business will use several channels of distribution to have a greater chance for
market share. It will use direct channel of distribution where the product will be taken from
the producer to the consumer. This channel of distribution is the simplest form and can be
easily managed by the business. It will be from the plant location to the primary target of the
business which is the Ateneo de Naga University population and also the possible customers
found within the vicinity.
The business will also engage in a consignment where retailers will function as
intermediaries between the manufacturer and the customers. One establishment shall be
Naga Tiles Center in Concepcion Grande for one of its member is related to the business.
This will also enhance the promotion of the business. Sintas will also be open in selling at
schools in different levels.

54 | S i n t a s

d. Promotion Tool
The Business will sell the products through social networking sites & selling
marketing strategy. Strategic alliances will be adapted by having a consignment agreement
with stores who will accept the business product. A consignment agreement will be executed
for each store for the security for both parties. Consignment basis will also be applied.
Product launching will be made by the company to inform the public of the existence and
availability of the product in the market.
Sintas would also apply direct marketing, wherein people from the company will
promote and advertise the company and the product through word of mouth or by personally
seeking people and introducing the product.
Another one is Online marketing wherein in the company utilizes social networking
sites to display the product which the prospective customer could visit. Advertising online
could be posted through Facebook and Twitter for a wider reach. Posters, brochures and
flyers will definitely help in advertising and promoting the product through the print medium.
This is effective for walk-in customers.
The members of the business can introduce the product to their friends, relatives and
acquaintances through their daily social interaction and conversation where they can
personally mention the product and seize every opportunity to make known its availability in
the market.

55 | S i n t a s

The trade fairs and exhibits are perfect venues for the introduction of the product.
Follow-up evaluation with client or customers even through casual conversation is important
in order to gather feedback about the product quality and customers satisfaction.
VII. PRODUCTION PLAN
a. Plant Location
Location of Production and Distribution Area of the Business

Quebo
rac

St
a.
Cr

Bonoan
Building

Centro

Ateneo Ave.

Entrep
Buildin

Bagumbay

Figure 27: Plant Location

The production and distribution area of the business will be located in the first floor of
the Entrepreneurship Building at the Ateneo de Naga University, Naga City (Note: This will be

56 | S i n t a s

done during (IGP 1, IGP 2). The finished products will be claimed on the said building. For bulk
orders, special arrangements may be made for delivery services.

b. Facility layout

Figure 28: Facility Layout

Since Sintas is just a small business entity, we would like to utilize the room that
will be used. The facility layout has distinct areas for production, washing, inventory,
packaging and display purposes.
c. Productivity
The production manager is responsible for effective and efficient use of the available
resources. The business should have a consistent high level productivity so that it will incur
lower cost of the output and would mean a greater profitability of the products made. The
57 | S i n t a s

productivity made by the business shall also measure how competitive it is in the market. The
edge of the business is that it shall offer a variety of crafts and accessories with higher
productivity relative to its competitors that shall be an advantage to the market.

d. Quality Control
In order for the business to have a good quality of product, certain control are to be
measured in maintaining the quality of the product. An inspection is to be followed. To be
able to meet a good quality of standard, the business will use raw materials that are cheap yet
of good quality.
Appearance is the first aspect of a product to influence customers. It is important
because obviously, if the product is not attractive to prospective customers then they will not
buy it. The quality of the accessories and crafts itself will never be evaluated if the package
doesnt attract the interest of the consumers. The quality concerning appearance influences
the decision and opinion ofconsumers even before they use it.
The following shall also be observed:
1. Controlling the purchases of direct materials or raw materials. This is to ensure
that these are of good quality before it can be manufactured.
2. Inspection. Quality control measures during and after to meet required standards.

VIII. Financial Plan

58 | S i n t a s

The comprehensive ways of determining whether the business plan is economically

stable are current cash flows, withdrawal plans and asset values.
a. Assumptions
Sintas business assumes that it will become stable and will be profiting for the two
semesters. For ending inventory, an assumption of 10% increases per semester. An annual
increase of 10% for utilities and advertisement is assumed. The company will have a weekly
operation and will produce 200 items each month. The volume of production will increase by
10% every semester.
b. Capital Requirements
Capital Expenditures
Glue Gun
Scissors
Needles (1 pack)
Accessory Pliers
Total

Php 150.00
Php 60.00
Php 6.50
Php 30.00
Php 246.50

Operating Expenses
Trade Fair Expense
License (DTI Registration)
Packaging
Total

Php 2,000.00
Php 350.00
Php 200.00
Php 2,550.00

Raw Materials
Total Cost

Php 26,238.24
Php 29,034.74

c. Financial Statements
Sintas

59 | S i n t a s

Projected Income Statement

For Three Semesters of Operation

1st Semester

2nd Semester

1st Semester

(2013-2014)

(2013-2014)

(2014-2015)

Sales

Php 44,640.00

Php 49,104.00

Php 54,014.40

Less: Cost of Goods Sold

Php 29,742.24

Php 32,716.46

Php 35,988.11

Gross Profit

Php 14,897.76

Php 16,387.54

Php 18,026.29

Promotional

Php 200.00

Php 220.00

Php 242.00

Trade Fair

Php 2,000.00

Php 1,000.00

Php 2,000.00

Licenses (DTI Reg.)

Php 350.00

Php

Php

Less: Selling and

Administrative Expense

Net Income

0.00

0.00

2,550.00

1,220.00

2,242.00

Php 12,347.76

Php 15,167.54

Php 15,784.00

Sintas
Projected Cash Flow Statement

60 | S i n t a s

For Three Semesters Operation

1st Semester

2nd Semester

1st Semester

(2013-2014)

(2013-2014)

(2014-2015)

Cash Inflow

Php 29,034.74

Php 31,938.21

Php 35,132.03

Selling and Admin. Exp.

(Php 2,550.00)

(Php 2,805.00)

(Php 3,085.50)

Assets

(Php

(Php

(Php

Raw Materials (Inventory)

(Php 26,238.24

(Php 28,862.06)

(Php 31,748.27)

Income

Php 44,640.00

Php 49,104.00

Php 54,014.40

Cost of Goods Sold

(Php 29,742.24)

(Php 32,716.46)

(Php 35,988.11)

Cash (Balance)

Php 14,897.76

Php 16,387.54

Php 18,026.29

246.50)

271.15)

298.27)

Sintas
Projected Balance Sheet

61 | S i n t a s

For Three Semesters of Operation

1st Semester

2nd Semester

1st Semester

(2013-2014)

(2013-2014)

(2014-2015)

Assets
Cash

Php 14,897.76

Php 16,387.54

Php 18,026.29

Other Assets

Php

Php

Php

Material Inventory

Php 26,238.24

Php 28,862.06

Php 31,748.27

Total Assets

Php 41,382.50

Php 45,520.75

Php 50,072.83

Capital

Php 29,034.74

Php 31,938.21

Php 35,132.03

Net Income

Php 12,347.76

Php 15,167.54

Php 15,784.00

246.50

271.15

298.27

Liabilities

TOTAL LIABILITIES Php 41,382.50

Php 45,520.75

Php 50,072.83

AND CAPITAL

d. Ratio Analysis
Profitability Ratio

62 | S i n t a s

Net Profit =

Net Income
Sales

Php 12,347.76
Php 44,640.00

= 27.66 %
Rate of Return / Return on Investment
Rate of Return =

Net Income
investment
Php 12,347.76
P h p 38,534.74

= 32%
Exit/ Payback Period
Payback for a business measures investment liquidity.
investment
Payback =
net cash

Php 38,534.74
Php 24,397.76

= 1.58 %
Sintas expects to get the return on investment after one and a half year (1 1/2).

63 | S i n t a s