Money Changer Feasib Plan

This chapter presents the summary of findings, which summarizes the five aspects: The Marketing Aspects, Management Aspects, Technical Aspects, Financial Aspects and Socio-Economic Aspects. It is important to know about these different categories of each aspect from the start of the business to the normal operation of the proposed business.

Marketing Aspect

The services to be offered is faster and reliable way to exchange foreign currency to local currency and vice versa with a higher exchange rate compare to banks offering the same service. In that point, it can get the loyalty of the clients and they will continue in patronizing the service. The business is located at CPN Building at the Public Market and very much accessible to the target costumers because it’s the busy area of the municipality. Management Aspect The proposed business will be organized as a partnership type of business organization. The employee will receive basic fixed monthly salary. They will also receive benefits privileges.

Technical Aspect

The materials needed for the operation of the business are office supplies, furniture and fixtures, office equipment, maintenance supplies, rent expense for the building, expenses for the renovation, advertising expense and utilities. The target market of ST Money Changer are the people of Masantol, Pampanga and nearby towns. The proponents chose the place situated in the CPN Building near at the Public Market of Masantol.

Financial Aspect

The required capital to the business is Php 2,000,000.00 based on the study which the proposed business is found visible. Some of the expenses that will be involved in the operation of the business are office supplies, furniture and fixtures, office equipment, maintenance supplies, rent expense for the building, expenses for the renovation, advertising expense and utilities.

Socio-Economic Aspect

ST Money Changer is a new business that will be established in the community of Masantol Pampanga, thus gives job opportunities to the residents of the said location. In that case, it also helps the economic status and development of the community. Aside from its customers who are mostly residents of Masantol The said Money Changer will be of great help to the students who will conduct a feasibility study similar to this one.

Conclusion

The Marketing aspect is strong in such a way that it can complete with other financial institution. The Management aspect of ST Money Changer is good most especially in handling employees. As being a Partnership from organization, the owners will supervise and Manage the employee’s very well and the business operation as well. Establishing a Money Changer is profitable and viable. The Financial aspect shows that they had net profit for the first year and up although it does not have a uniform income and it requires some of expenses for their operation, still it can get a profit. The establishment of ST Money Changer has a big contribution in improving the lives of many citizens residing Masantol, Pampanga.

Recommendation

In the light of the findings of this study, the following recommendations are hereby presented:  That the proponents must know their competitors and the services they offer for benchmarking.  That they must explore new ways of offering services. That entrepreneurs must conduct a feasibility study to ensure the viability of the project. They must conduct a market research and access the needs of the target market.