Philippine Womens’ University

Taft Avenue
Entrepreneurship in Tourism and Hospitality

Final Product

Krazy Chikam

Submitted by:

Arabelo, Lance
Barrera, Joshua
Besin, Dale
Cajigas, Nicole
Dano, Dylan
Pastrana, Julius
Roman, Melissa
Tugade, Chelsea

Submitted to:
Professor Robin Meneses

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 Table of Contents
I. Introduction ……………………………………………………………………….. 3 - 4

II. Brand Name ………………………………………………………………………. 4

III. Business Description ……………………………………………………………… 4

IV. Mission and Vision of the Business …………………………………………….... 5

V. Type of Business ………………………………………………………………….. 5

VI. Business History ………………………………………………………………….. 8

VII. Target Market ……………………………………………………………………. 6

VIII. Design of the Business ………………………………………………………….... 6

IX. Packaging ………………………………………………………………………… 7

X. Menu ……………………………………………………………………………… 8

XI. SWOT Analysis ………………………………………………………………….. 11 - 13

XII. 7Ps of Marketing ………………………………………………………………… 13 - 15

XIII. Food Cost ……………………………………….………………………………… 16 - 18

XIV. Sales Forecasting and Profit, ROI Forecasting ………………………………… 19 - 21

XV. Survey Questionnaire ……………………………………………………………. 22

XVI. Conclusion ………………………………………………………………………… 23

XVII. Documentation …………………………………………………………………… 24 - 29

a. Finish Product

b. Logo

c. Packaging

d. Sample Menu Card

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I. Introduction

With the rising popularity of Korean media contents such as K-pop, films and

drama, people have created a great interest in Korean culture worldwide, which includes

showcasing their food. So for the last couple of years, Korean food has been expanding

its presence in the global food scene.

One of the highly praised and celebrated Korean dishes is the country’s unique twist to an

already popular fare, fried chicken. Korean-style fried chicken can be described as a

crispy, moist and yet lightly-battered version of its Western counterpart, which may also

come in different flavors that’s uniquely reminiscent of other Korean cuisine.

The Philippines, as a result of the rising interest in Korean culture, has also seen a rise in

the number of Korean restaurants, restaurants offering Korean dishes or Korean versions

of existing dishes in the past few years, such as Korean fried chicken. In fact, existing

franchise restaurants that specialize in Korean-style fried chicken such as Bonchon, 24

chicken , and BOK have steadily been growing and increasing in number in the country.

However, due to the pandemic, restaurants have been struggling. Most food businesses

and restaurants are mainly surviving thanks to drive-thrus or delivery. Online businesses

hence have soared. With that in mind, we want to offer an online food business that

specializes in serving Korean-style Fried chicken, which will fulfill our customer's needs

and satisfaction. Krazy Chikam will be using high quality ingredients and the business

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 will make sure that every ingredient is fresh in order for us to provide a high quality and

satisfying product to our custom

II. Brand Name

We decided to name our business “Krazy Chikam” because we believe it would be easily

remembered by our customers and is highly distinctive. The word krazy is well-known

and often used by millennials and generation Z. Furthermore, the word Chikam was

added to make our business name catchier and more appealing.

Also we came up with the product name of “Krazy Chikam” because we wanted to catch

up with the trend in our generation and spread this to the other generations. The product

name is unique and at the same time it is very timely.

III. Business Description

Krazy Chikam serves its customers an affordable and delicious Korean-style Fried

Chicken with a hint of Filipino taste to it. We create a distinct aroma and variety of

flavors for our Chicken Wings particularly our signature dishes the Yangnyeom-tongdak

a variety of Korean fried chicken dish seasoned with a sweet and spicy sauce of

gochujang, garlic, sugar, and other spices and the Dakgangjeong a sweet Crispy Fried

Chicken with a glaze of sticky, sweet-soy, and spicy sauce. Krazy Chikam wants their

customers to have a taste of Korea through fried chicken giving them a sense of comfort

and happiness while enjoying our food.

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IV. Mission and Vision of the Business

Mission

Being the best means giving the highest quality product and service, ensuring that our

clients are completely happy.

Vision

The purpose of the Krazy Chikam is to bring joy to our consumers while also ensuring

food quality and customer satisfaction. Through tasty, high-quality meals and

unforgettable experiences, we work for the greater good of our community and

environment.

V. Type of Business

The business type of Krazy Chikam is Partnership. Owners of the Krazy Chikam decided

to have a Partnership, we all wanted to manage and operate the business and share its

profits and also the liabilities. We decided to have a Partnership. The particular reason for

this circumstance is that Partnership shares legal and financial liability equally, each of

the individuals of these partnership are personally responsible for the debts and

obligations the Partnership takes on. Profits are also shared equally. And also the

Partnership is taxed according to the respective income of their partners. This income is

subjected to a graduated income tax scale for individuals. This scale shows the

percentage of tax that will be applied to the income depending on the income level.

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VI. Business History (Inception of Business Idea)

The Krazy Chikam was discovered and operated by 8 Owners who are determined to

learn and explore the business world with a targeted focus of giving utmost satisfaction, a

sense of comfort, and happiness present into their food while serving its customers. The

business was established based on the growing trend in the Philippines. Filipinos have a

particular trait wherein they quickly adapted different food cultures from several

countries. Korea became one of the most influential countries that elevated Filipino’s

choices regarding food up until now, which serves as a sole reason to launch our

business. Krazy Chikam aims to create high-quality food while maintaining an affordable

price from the menu.

VII. Target Market

We anticipate that Krazy Chikam will appeal to a broad range of customers of all age

types. This includes families with children, teenagers, millennials, and the baby boomer

generation who would love to purchase the sole product of our business: the Korean-style

Chicken Wings.. Krazy Chikam will also make it primarily available to residential areas

such as apartments, dormitories, and houses. Since our product is generally considered

comfort food, it would give utmost satisfaction and happiness to our target customers. In

cases wherein our business will be successful one day, we aim to expand it to people who

are at work to make Krazy Chikam more profitable and, at the same time, continuously

serve high-quality food at an affordable price

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VIII. Design of the Business

The logo is chosen to represent the business’s overall vision and concept: to serve customers

quality and delightful products in a simple and easily accessible way. The logo Chicken signifies

our brand name Krazy chicken, as you could see the chicken is a bit Crazy or out of his mind

which will make our customer think why we put this logo simply because we want them to

remember that this chicken will satisfy and make them krazy when they consume or buy our

products.

The chosen color scheme of the logo is a set of colors that work well together to create a unified,

simple aesthetic. The colors red, yellow, and white are not only complementary to each other,

making it pleasing and relaxing to the eye, but at the same time, these colors are well known to

evoke hunger and stimulate people’s appetite, as evident in how most food businesses and

restaurants have used similar color schemes in their branding.

The logo introduces the main ingredient of our product. It is designed to be simple while giving

off a powerful vibe to make it easily memorable to customers’ minds while also communicating

that the brand serves quality products.

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IX. Packaging

The packaging of our product will be a Kraft takeout meal box, the chosen packaging is

biodegradable, eco friendly, durable, microwave safe, and water and oil safe.

We chose this type of packaging because we wanted to lessen the use of plastic and help

with the environment, and also the use of Eco-friendly packaging it is recyclable and

sustainable this is the business focus-point, not only to give the best product to our

customers but to help with the environment and make it all sustainable.

Also, we will add a sticky note with both Hangul and English of a short message

explicitly saying “have a nice day” and such, and for thanking our customer for

purchasing our product, Since our Product is Korean Fried Chicken, we want to adapt the

Korean vibe wherein Koreans usually have a simple note when they are packing food for

other people or their family. and also we include the sticker with our logo and social

media accounts.

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X. Menu

Krazy Chikam specializes in serving Yangnyeom-tongdak & Dakgangjeong, a thin,

crackly and crunchy Korean-Style Fried Chicken. The chicken is seasoned with a variety

of spices that provides a harmony of aroma, texture, and color. Such flavors are sweet and

spicy with hints of aromatics like garlic. As the business grows we will have different

flavors which will fulfill our customers’ needs but we will retain our 2 original flavors in

order for us to have a benchmark that these 2 flavors are originally from Krazy Chikam in

other words original flavors that our business created. The following Flavors will be

fused with other cuisine such as Filipino, Chinese, Vietnamese and American cuisine in

order for us to have a wide range of flavors or choices for our customers.

Yangnyeom-tongdak

Yangnyeom-tongdak is a popular sweet and spicy Korean Fried Chicken made with

gochujang, soy sauce, sugar, rice wine, vinegar, and garlic.

Yangnyeom-tongdak is more suitable for people who like Fried Chicken that have a kick

to it with strong but pleasant flavors.

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Dakgangjeong

Dakgangjeong is sweet crispy fried chicken. Dak means chicken and Gangjeong is a type

of Korean sweet that is fried and coated in a sticky sauce. Its flavor consists of a

sweet-soy glaze with a tiny hint of spice.

Dakgangjeong is more suitable for people who like sweet & salty dishes and can’t handle

spice that much. Dakgangjeong has a perfect balance of light flavors that highlights the

chicken’s flavor to the next level.

New Flavor (Concept):

Krazy Bicol Wingz

Bicol Express, in all of its well-balanced spice and sweetness, also makes for an

irresistible cold day meal. With a creamy, delicious stew containing ginger, and a

generous amount of essential seasonings in salt and pepper, the flavors come together for

the most comforting spoonful of meat and soup. Imagine all of that and make it a chicken

wing.

Introducing our newest flavor. Bicol Express Chicken wings, called "Krazy Bicol ''. It

really is Krazy. We aim to capture our customers by providing a somewhat krazy flavor

but making sure that it makes sense when tasting it. Having a wing of "Krazy Bicol ''

does not stop at its mouthwatering, umami taste.

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XI. SWOT Analysis

Strengths

Krazy Chikam is a newly established business that offers different flavors of Korean fried

chicken to its customers. One of the business’ strengths is that we are Environment-friendly

because instead of using plastic disposable tubes, spoons, and forks, we instead chose to use

disposable wooden utensils and biodegradable food containers in order us to be eco friendly and

help our environment by promoting the usage of biodegradable containers and silverware.

Second is that we are Budget-friendly, our product costs lower than other Korean fried chicken

to give the customer a budget-friendly meal, and at the same time, it will fulfill their satisfaction

with Korean fried chicken. Being budget-friendly can significantly impact our business because

everyone can afford to buy and try our product. Lastly, the Power of social media, since our

generation uses different platforms of social media and we already have enough knowledge to

make our Website, and we should utilize the various social media platforms, It is more accessible

for us to market our product and let our customer see every update we made for our products or

use different social media also to share the reviews of the customers to our product. By using

social media, we can also see how many people visit our various social media platforms or even

our Website, our customers freely and conveniently say their opinions and suggestions, which

will help us to modify and make improvements for our product.

Weaknesses

As we established Krazy Chikam, we also identified what the possible weaknesses of the

business are. One potential weakness of our business is the accessibility of delivering the food

since we are starting and we are limited to providing food at a low cost which can cause a

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problem for the business especially for the customers who are far from our business, but they

want to try it. Business experience is one of the weaknesses of the business because not every

one of us has engaged in any business, which can be the weakness of the business. Lastly, The

marketing of the product will be challenging because it is a newly established business, and few

people are willing to try a new product.

Opportunities

There are different opportunities for the Krazy Chikam. Firstly, since we are newly-opened

business people may try our products out of curiosity, which can be an opportunity for us to be

known with our Korean fried chickens and as the time passes by with the growing phase of our

business, flavors. Variety of products may increase and improve to cope with the customer’s

needs and fulfill their satisfaction and cravings. Second, Delivery is one of the opportunities for

the business because we all know that some people are scared to go out to buy something. Still,

through Delivery, customers can try our products even though they are far from it, or because

they are scared to go outside, we can deliver them our unique Korean fried chicken with

eco-friendly containers and utensil to help our environment in preventing the usage of plastics,

and we will make sure that our product is well disinfected.

Threats

Since our business is newly open, threats may occur as the business grows. Engagement with

our customers may be lower in the first few days since we are a freshly open business. Different

businesses offer Korean fried chicken. It can be one of the threats to our business since they are

already established while our business is currently in a growing phase. Pandemic is one of the

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threats in every business nowadays because we can do limited movements because we need to

follow specific protocols in different places. Lastly, Limited Menu or choices since we are

starting, we try out flavors that are something new for the customers, flavors that are not present

in the other businesses that offer Korean fried chicken.

XII. 7ps of Marketing (Product, Price, Place, People, Promotion, Process, Physical

Evidence)

Product

In terms of the quality of our product, we're sure that what you see in our promotional pictures of

the product is what you receive when you order. The product will be packed as a meal consisting

of two (2) different flavors of Korean Style Chicken Wings with rice. We make sure that the

ingredients used in the product are fresh. We wanted to make sure that the product would give

more satisfaction than the other business of Korean Fried Chicken. We also assure that we are

going to surpass our competitors in terms of the quality of our product.

Price

The business will ensure that their price is reasonable and worth it for spending. As the business

grows we will give promos and sales such as buy 1 take 1, less 10% for College students in order

for us to give back to our customer and they still buy our product. Lastly, prices may change as

the price of our ingredients may increase but we will make sure that this increase will not cost

our current and future customers.

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Place

When it comes to our business location, we may not have a physical store; instead, we chose to

offer our products through online marketing, which is how we do it. We mostly target them

through social media platforms, as there is a greater chance that our product will be known by

other people and in other places, especially nowadays, as most people continue to use social

media and buy food online.

People

In terms of people, the center of this topic is our staff and beloved customers. We are confident

that we live by what we offer, and we can reach or even exceed the expectations that our

customers have in our product. With our service, we make sure that we communicate and handle

our customers well enough to make them feel that they are taken care of and welcome. Our

vision is to make our customers happy and satisfied because we want them to know that the

money they are spending for our chicken is all worth it.

Promotion

The primary platform that we use to promote our product is through different social media

platforms because most businesses use this strategy nowadays, and it has become the trend now.

Also, since the pandemic happened, most people resorted to buying into different online

shops/sites, so we believe that using social media is an advantage because it has a broader reach

to let more people know about our product. The most effective way of promoting or advertising a

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product nowadays is through social media because it is less costly than printing and posting

posters promoting our product. During the pandemic, businesses and organizations utilize the

usage of social media to promote their products or services.

Process

In this one, you can avail and order our food through our page via direct message. We will

handle the booking with your chosen delivery options like grab food or food panda but the

delivery fees will be shouldered by the customer. And also our product would be

environmentally friendly in terms of packaging and utensils that we're going to use.

Physical Evidence

Physical evidence demonstrates that our business exists; the proof is that we only operate on

social media; we do not have a physical store and instead choose to sell our products via social

media platforms. We have included our logo on the food container, as this is part of our

marketing plan.

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XIII. Food Cost

`Yangnyeom-Tongdak

Yield: 20

Mark up 50%

Ingredients Quantity Unit Price Cost

Chicken wings 1500 G ₱200.00/Kg ₱345.00

All Purpose Flour 90 G ₱128.00/Kg ₱11.52

Corn Starch 120 G ₱170.00/Kg ₱20.40

Baking Soda 2.5 G ₱110.00/Kg ₱0.28

Egg 2 Pcs ₱6/Pc ₱12.00

Rice Syrup 120 Ml ₱290.00/L ₱34.80

White Vinegar 15 Ml ₱60.00/ L ₱0.90

Gochujang 15 G ₱900.00/ Kg ₱13.50

Ketchup 80 Ml ₱150.00/Kg ₱12.00

Sesame Seeds 15 G ₱100.00/Kg ₱3.00

Cooking oil 510 Ml ₱120.00/L ₱61.20

Rice 100 G ₱60.00/Kg ₱6.00

Garlic 20 G ₱150.00/Kg ₱4.00

Salt 15 G ₱40.00/Kg ₱0.60

Black Pepper 15 G ₱ 100.00/Kg ₱1.50

Recipe cost ₱481.70

Price / PC (s) ₱12.045

Pcs/ Box 4

Food Cost/box ₱48.17

Other Expenses 12.25

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 TOTAL COST ₱60.42

MARK UP 50%=₱ 30.21

Service Fee 10% ₱9.063

SELLING PRICE ₱ 99.693 or 99

₱1200 electricity for 1 month= ₱1500

₱300 water for 1 month =₱500

₱5 per Container X 400 =₱2000

₱ 1.5-Spoon and Fork- ₱600

₱ 200 for other expenses = ₱400

Total= ₱5000.00 / 400 = ₱12.25 additional per box

Dakgangjeong
Yield:20
Mark up 50%

Ingredients Quantity Unit Price Total Cost

Chicken WIngs 1500 G ₱200.00/kg ₱300.00

All Purpose Flour 90 G ₱128.00kg ₱11.52

Rice Syrup 120 Ml ₱290.00/L ₱34.80

Soy Sauce 60 Ml ₱ 60.00/L ₱3.60

White Vinegar 15 Ml ₱ 60.00/L ₱0.90

Brown Sugar 15 G ₱ 100/Kg ₱1.50

Garlic 30 G ₱140.00/Kg ₱4.20

Mustard 15 Ml ₱320.00/L ₱4.80

Ginger 15 G ₱110.00/Kg ₱1.10

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 Cooking Oil 500 Ml ₱120.00/L ₱60.00

Rice 100 G ₱60.00/Kg ₱6.00

Salt 10 G ₱50.00/500G ₱1.00

Black Pepper 10 G ₱100.00/Kg ₱1.00

Sesame Seed 15 G ₱ 100.00/Kg ₱1.5

RECIPE COST ₱431.92

Price / PC (s) ₱10.798

Pcs/ Box 4

Food Cost/box ₱43.192

Other Expenses ₱12.25

TOTAL COST ₱55.442

MARK UP 50% = ₱27.721

Service Fee 10% ₱8.3163

SELLING PRICE ₱91.4793 or 91

₱1200 electricity for 1 month= ₱1500

₱300 water for 1 month =₱500

₱5 per Container X 400 =₱2000

₱ 1.5-Spoon and Fork- ₱600

₱ 200 for other expenses = ₱400

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XIV. Sales Forecasting and Profit, ROI Forecasting

The expected monthly sales for the first month of Krazy Chikam is 400 Tubs or 800 pcs of

chicken.

Target Sales per Month 400 Containers 800 pcs of Korean Fried
Chicken

Target Sales per Week 100 Containers 200 Pcs of Korean Fried
Chicken

The average Price of (2pcs) of Korean Fried = ₱ 95.00

Average Price (95.00) x Target sales per = ₱38,000

Packaging, Utensils, Bills and Other Expenses ₱ 5,000

Ingredients (Based on Food Cost)

₱ 481.70 (Yangnyeom - Tongdak) x 10 = ₱ 4,817

₱ 431.92 (Dakgangjeong) x 10 = 4,319.20

= ₱ 9,136.20 Total cost for (1,600) of

Monthly Expenses of: ₱ 14,136.20

Monthly sales (₱ 38,000) - Monthly Expenses Monthly Profit = ₱23,863.80

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The expected Six (6) months Profit of Krazy Chikam.

Monthly Target Sale (₱38,000) x (6) Months = ₱228,000

(₱5,000) Packaging, Utensils, Bills and Other ₱ 30,000

Ingredients (Based on Food Cost)

₱ 481.70 (Yangnyeom - Tongdak) x 10 = ₱ 4,817

₱ 431.92 (Dakgangjeong) x 10 = 4,319.20

= ₱ 9,136.20 Total cost for (1,600) of

6 Months Expenses of: ₱ 84,817.20

Monthly sales (₱ 228,000) - Monthly 6 Months Profit = 143,182.80

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The expected Annual Profit of Krazy Chikam.

Monthly Target Sale (₱38,000) x (12) = ₱456,000

(₱5,000) Packaging, Utensils, Bills and Other ₱ 60,000

Ingredients (Based on Food Cost)

₱ 481.70 (Yangnyeom - Tongdak) x 10 = ₱ 4,817

₱ 431.92 (Dakgangjeong) x 10 = 4,319.20

= ₱ 9,136.20 Total cost for (1,600) of

6 Months Expenses of: ₱ 169,634.40

Monthly sales (₱ 456,000) - Monthly Annual Profit = ₱ 286,365.60

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XV. Sample Survey Questionnaire

1. Email _________________

2. Name (optional) ___________________________

3. Age ____________

4. Do you consume Chicken? Yes or no?

3.5 If yes, Which part of Chicken is your favorite?

5. Have you eaten Korean Fried Chicken Before? Yes or No

6. How often do you purchase Korean Fried Chicken?

7. What Flavor do you usually purchase? _____________

A. Daily B. 2-3 Times a week C. 4-5 times a week D Once a week E. Rarely

8. How much are you willing to spend on a Korean Fried Chicken ?

A. ₱100 below B. ₱100-300 C. ₱300 above

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XVI. Conclusion

To conclude, as we all know, the rise of Korean media content is prominent. More and

more people are interested in finding out about their culture and so people are also highly

interested about their food. Especially after watching a tv series or youtube videos

showcasing a certain dish like korean fried chicken and more often people always ask;

what does their food taste like?

Our business aims to give a sense of comfort to the people who have been craving

Korean fried chicken. That is why we are serving affordable and delicious Korean-style

Fried Chicken. Because we want to let the people have a taste of Korea, to satisfy their

cravings, Or to give something new to the people who want to try other cuisines out of

their comfort zone.

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XVII. Documentation

“Dakgangjeong”

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25
“Yangnyeom - Tongdak”

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27
Logo:

Packaging:

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Sample Menu Card:

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