“A Feasibility Study on Establishing Croffle Business in PHINMA-Araullo

University”

In Partial Fulfillment for the Requirements for the Subject MKT 003- Marketing
Research
Bachelor of Science in Business Administration Major in Marketing Management

Presented By:

Buayaban, Oliver
Bulalayao, Crystal Ashley
Dela Cruz, Roseanne
Domingo, Jonathan
Garcia, Michaela Joy
Lagasca, Soren
Madrigal, Rayzzah
Malubag, Editha
Nunez, Joyce Nicole
Santos, Eunice

MM3- MAIN 2

MKT 003

AILEEN LACSON BAGASAN

(Professor)

August 09, 2023

 Table of Contents

Chapter 1
Introduction………………………………………………………………………………..1
The Proposed Project……………………………………………………………………...3
Review of Related Literature……………………………………………………………...6
ConceptualFramework…………………………………………………………………...10
Statement of the Problem ..………………………………………………………………11
Significance of the Study...………………………………………………………………15
Scope and Limitations of the Study……………………………………………………...16
Definition of Terms………………………………………………………………………17

Chapter [Link]
Research Design………………………………………………………………………….18
Respondents of the Study………………………………………………………………..18
Locale of the Study………………………………………………………………………19
Materials and Instruments………………………………………………………………..19
Data Gathering Procedures………………………………………………………………20

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

References………………………………………………………………………………..24
 CHAPTER I

THE PROBLEM AND REVIEW OF RELATED LITERATURE

Introduction

Food business has become a well-known business and has an increased rate in the
business sector. It has created a rapid rivalry among them. People these days are more
into what’s trendy in the society, we tend to try new things out of our curiosity and with
that, the researchers came with the idea of introducing a pastry food that everybody will
surely love.
We cannot deny the fact that we all love to eat. As individuals, we often find that
activities or tasks that are repeated can become monotonous over time. It is part of our
innate human character to continuously seek innovation, even within the confines of what
already exists with the goal of fashioning something entirely new. This creation aims to
be both distinctive in its originality and remarkable in its quality and aimed at satisfying
and delighting the taste buds of every individual. Driven by this very essence, researchers
have formulated an exceptional concept – to bring forth a product that not only captures
the attention of consumers but also bestows upon them a profound sensation of
satisfaction with every delectable bite. Additionally, the researchers are unveiling the
Croffle to the community. We intend to introduce the croffle in a way that matches the
liking and flavors of each person. The product will not only be affordable for people, but
it will also be easy to find and, most importantly it will taste really delicious.
Aside from the people loves to eat, we also love to try something new. In the
contemporary era, there is a notable tendency among people to indulge in trendy cuisine
and diverse beverages. We the researchers came up to introduce here in PHINMA-
Araullo University a product that is something unique not just only the name of it but also
in the taste buds of everyone and that is the Croffle.

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In the realm of culinary innovation, novel combinations of ingredients often come to the
forefront, captivating the imagination and taste buds of food enthusiasts. One such
delightful creation is the croffle, a harmonious fusion of the delicate croissant and the
beloved waffle. The croffle, derived from the fusion of "croissant" and "waffle," emerges
as a culinary marvel that harmonizes the delicate, flaky layers of a croissant with the
crisp, grid-patterned texture of a waffle. While pinpointing its exact origin proves
challenging, the croffle has gained prominence in recent years, captivating the culinary
realm with its captivating blend of flavors and textures. The croffle serves as a testament
to the ever-evolving culinary landscape, continuously pushing the boundaries of
traditional dishes and embracing innovative combinations. This is a pastry type of
product that is affordable to the consumers which can give satisfaction to the potential
customers like students, teachers, staffs in PHINMA Araullo University. The propose
business fundamentally exists to form mindfulness and providing for the community a
tasty product.
The croffle enterprise displayed promising potential within the business sector. Apart
from its high-quality and affordable cuisine, it opens up further prospects for the
recognition of croffle offerings in the corporate sphere, drawing in consumers intrigued
by its distinctiveness. The researchers effectively achieved their objective of introducing
an uncommon and health-conscious product. Each acquisition of this item proved to be a
valuable investment.

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The Proposed Project
We Filipinos are certified food lovers. Whether its for breakfast, lunch and dinner,
Filipinos love to eat snacks at midmorning including merienda in the afternoon. We want
to create something that’s amazing; establishing “CROFFLE” is one of those snacks that
are remarkable and it's one of those pieces of food that you'd genuinely queue in line for
and eat. We choose this business because this snack is currently not available on our
school, PHINMA Araullo University Main Campus. The meaning behind our business
name is the combination of “Croissant” and “Waffle” by placing rich buttery croissant
pastries into a waffle iron. The innovative snack can be covered in a variety of toppings,
such as Nutella, yogurt, fruits, syrup and much more.
Business Logo

Business Tagline
"Croffles: Where Tradition Meets Crave-worthy Innovation"

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Proposed Location
The croffle business will be located inside the campus of PHINMA- Araullo University
particularly in the main campus of the university. The exact location inside the campus
will be at the lower level of Horizon Hall.

Mission
Crafting joy through delectable croffle creations uniting flavours and hearts with every
bite.

Vision
To lead the croffle evolution, setting new standards in taste and creativity, and becoming
a beacon of inspiration for culinary innovation and enjoyment.

Goals
 Provide unique experience to customers

 Help encourage customers to support local small business enterprise

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Product/Services

Regular Croffle Biscoffs Croffle

White Chocolate Chicken Floss

Matcha Croffles

5
Review of Related Literature

This section presents the different ideas, precepts and concepts of the different authors

that are relevant to this study.

Foreign Literature

According to the Shea Simmons of [Link] (2021), the origin story of the croffle

is attributed to the creative ingenuity of Irish pastry chef Louise Lennox, who is credited

with crafting this delectable fusion of croissant and waffle elements. However, the croffle

truly burst onto the global culinary scene when it captured the hearts and palates of South

Korean food enthusiasts, which notably mirrors the ascent of the beloved dalgona coffee

that also hails from this vibrant gastronomic culture. This newfound culinary darling,

having garnered substantial attention and appreciation from food aficionados in South

Korea, has now embarked on a gastronomic journey that transcends borders and traverses

oceans. Venturing across the expanse of the Pacific, the croffle has made a noteworthy

entrance into the culinary landscape of the United States, a testament to its growing

international allure and universal appeal.

As stated by Louisse Lenox in the tasteie (2017), she decided to pay a visit to Cuisine de

France's Innovation center, where she had the wonderful opportunity to collaborate

closely with their skilled team in the exciting endeavor of crafting the Croffle.

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In the company of the Product development chefs, who specialize in the art of

experimenting with and refining various food elements, she immersed herself in a

creative and hands-on process that aimed to bring forth this unique and delightful

culinary creation. Within the lively and bustling atmosphere of the Innovation center, the

air was thick with a shared sense of enthusiasm and dedication to the task at hand.

Working hand in hand with the Product development chefs, they embarked on a journey

of taste exploration and flavor manipulation, meticulously adjusting and fine-tuning each

individual ingredient and component to achieve a harmonious symphony of flavors that

not only met their personal taste preferences but also held the potential to resonate with a

wide range of palates.

“The idea behind it is how can you get a croissant and make it even more delicious? By

putting it in a waffle iron, you have this high impact of heat blasting into it. You’ve

already got this buttery pastry and it makes it super crisp. Then you stuff it with some

gorgeous flavours like avocado and sun-blushed tomatoes. Then you can put a little bit of

flavouring on top of it, different ingredients and it basically was the birth child that turned

into food heaven. It gives a croissant a whole new lease of life.” ( Louisse Lenox, 2017)

As revealed in a recent publication by Parisunlocked (2023), the historical origins of the

beloved croissant trace their roots back to the vibrant crossroads of Vienna and Eastern

Europe. This region serves as the fertile ground from which emerged a distinctive pastry

known as the kipferl, which holds the esteemed distinction of being widely regarded as

7
the precursor to the illustrious French butter croissant that has charmed palates across the

globe. Delving into the annals of culinary history, we find that the kipferl stands as a

testament to the time-honored baking traditions that flourished in Austria and Eastern

Europe. This delectable pastry, crafted with care and precision, embodies the essence of

these cultures, offering a tantalizing glimpse into the culinary prowess and gastronomic

innovation that thrived in these lands.

Anne Ewbank's insightful article from 2022, delves into the fascinating history of

waffles, tracing their origins to a time even before the first recorded recipe in 1393. These

delectable treats were crafted using unique iron pans, resulting in their iconic honeycomb

[Link] Dutch played a pivotal role in waffles' journey, bringing them to America

where they quickly gained popularity, becoming a staple at lively "waffle frolics" during

the 18th century. Museum collections now safeguard historical waffle irons, reflecting

the waffle's enduring cultural [Link] culinary landscape saw a transformative

shift with the invention of electric waffle makers, making waffle creation more accessible

and convenient for all. This evolution showcases how waffles have seamlessly blended

tradition, migration, and innovation.

Local Literature

According to the article of Rappler (2021). The croffle is a special and new kind of

baked treat that blends the yummy look of a waffle with the delicious taste and feel of a

croissant. Making a croffle involves carefully pressing croissant dough in a waffle maker

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until it becomes crispy and turns a beautiful golden-brown color. What makes the croffle

really cool is how it gives you a mix of different tastes and textures. The outside part is

crunchy, like a classic waffle, which adds a nice texture when you take a bite. But when

you go deeper, under the crispy part, you'll find a soft and chewy inside that reminds you

of a tasty croissant. This mix of different textures makes the croffle taste amazing and

interesting to eat. One of the great things about the croffle is that you can make it your

own. It's like a plain canvas waiting for you to add your own flavors. You can put sweet

things or savory things on top, giving it a whole new taste each time. This ability to

change up the flavors, along with how good it tastes and how it looks, makes the croffle a

treat that can please lots of different tastes and preferences. It's a versatile and super tasty

snack that you're sure to enjoy.

The croffle is like a food superhero that can do many things in the kitchen. It can start the

day as a quick and yummy breakfast, giving you a happy mix of flavors and textures that

wake up your taste buds. You can enjoy it on its own or with other tasty things. But not

only that, the croffle isn't just a morning champion. It can also be the grand finale to a big

and satisfying meal. Imagine it as the exciting last chapter of a tasty story. When you're

done with your meal, the croffle comes in, adding a touch of sweetness and a feeling of

luxury to end things on a high note. So, whether it's a bright morning or the end of a

hearty meal, the croffle is ready to play its delicious role, making food moments special

and memorable. (Vivien Del Valle –Borres,2021)

9
As stated by Hannah Tamondong (Cosmopolitan Ph); Back in 2019, croffles - those neat

pastries that are a mix of croissants and waffles - were already getting some attention in

different countries. And in 2020, they were especially loved in South Korea, where lots

of people were into them. This year, the croffle trend is still going strong. You can find

them in cafes and even on the street where they sell food. What's cool is that you can pick

a croffle that's simple or one that's fancier (or even both if you're feeling fancy and simple

at the same time). So, whether you like things easy and basic or you're up for something

fancy and special, croffles are there to make your taste buds happy. They've been around

for a while and keep on making people smile with their tasty mix of flavors and styles.

Conceptual Framework

The researcher adapted the IPO model in formulating framework of the study that serve

as guide for the researchers in doing their entire analysis

INPUT PROCESS OUTPUT

 Marketing Aspect 1. Data collection of

 Technical Aspect Respondents FEASIBILITY OF
 Management Aspect Profile ESTABLISHING CROFFLE
 Financial Aspect 2. Distribution of BUSINESS IN PHINMA
 Environmental Survey ARAULLO UNIVERSITY
Aspect Questionnaire (MAIN CAMPUS)
3. Statistics analysis
of data

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Statement of the Problem

The general problem of this study is to determine the viability and feasibility of

establishing a Croffle Business within the vicinity of PHINMA - Araullo University

Main. Specifically, it also aims to answer the following questions:

1. How may the Marketing Aspect of the Feasibility study be described in terms of:

-Description of Target Market

-Demand and Supply Analysis

-Marketing Program

-Terms of Sales

-Pricing

-SWOT Analysis

-Promotion

-Projected Sales

2. How may the Technical Aspect of the feasibility study be described in terms of:

-Operation System and Process

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-Service Description

-Production Capacity/Schedule

-Production Location

-Layout

-Raw Materials and its Sources

-Machinery and Equipment

-Utilities and Other Operating Costs

-Waste Management

3. How may the Management Aspect of the Feasibility study be described In terms of:

-Form of Business Organization

-Organizational Structure

-Manpower Requirements

-Qualification Standards

-Duties and Functions of Personnel

-Manpower Schedule
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-Compensation Package

-Legal Requirements

-Company/Store Policies

4. How may the Financial Aspect of the Feasibility study be described in terms of:

-Assumptions

-Total Project Cost

-Source of Financing

-Protected Income Statement

-Projected Cash Flow Statement

- Projected Balance Sheet

-Statement of Changes in Equity

-Projected sales

-Salaries and Wages

-Permit and Licenses

-Depreciation Schedule
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-Rent Expense

-Annual Income Tax Expense

-Financial Statement Analysis

-Payback period

-Return on Investment

- Breakeven

5. How may the Socio - Economic Desirability Aspect of the Feasibility study be

described in terms of:

-Benefit to Owner

-Benefit to Internal Customers

-Benefit to the Customer -Benefit to the Community

-Benefit to Phinma-Araullo University-Main

-Benefit to Government

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Significance of the Study

The results of the study would yield its benefits to the following people:
CUSTOMERS- This would enable customers to choose which product to buy that will
satisfy their taste buds. It would also provide consumers with insights to which product is
valuable or beneficial to them.
STUDENTS-This study would help the students, especially those taking up business-
related courses for their own research and ideas. This study may serve as a guide and
reference to the students who would find this study convenient and helpful to their own
study.
ENTREPRENEUR-This study would help the entrepreneurs to provide an idea about
selling products which are affordable and beneficial to their target market. With that, they
can help their customers in giving good food through the products they offered. This
study also gives them insights of producing new products in the market.
FUTURE RESEARCHERS- This would help the future researchers to have data and
basis and would plan to make any related studies of their own by using this as a
reference.
PARTNERS/PROPONENTS-The study would allow proponents to expand or develop
expertise and awareness about financial resources and financial literacy as well. This may
build a partner’s confidence in taking risks in any different businesses they would
encounter or to pursue in the future.

15
Scope and Limitation

The Croffle business is focused on offering a variety of artisanal croffles, encompassing

both sweet and savoury flavours, meticulously crafted with premium ingredients. These
croffles are designed to cater to diverse tastes and dietary preferences, available in regular
and mini sizes. The business commenced its operations exclusively on weekdays from its
inception, catering to customers within the the campus of PHINMA- Araullo University
area. The entrepreneurs or researchers themselves identified and emphasized five key
operational considerations:
a. Marketing Aspect This data determines the extent to which the products and services
be generated by the project are needed and demanded. Designing suitable marketing
strategies and plans that would help ensure that the business is embraced by the target
consumers.
b. Financial Aspect The estimated expense and price changes would be based through
its first and the following months of operation. The increase was also projected based on
conservative assumption based on inflation rates.
c. Management Aspect This data decides the feasibility of the organizational setup and
qualifications of the individual who would make-up the organization.
d. Environment Aspect This aspect was restricted only to the environmental practices
and policies found inside PHINMA-Araullo University
e. Technical Aspect In this aspect, this would allow the researchers to assess the
feasibility and effectiveness of our proposed study by analysing all the details of the
project process, the ingredients, and monitoring of the product and the costing services
that would intend to develop.

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Definition of Terms

Business sector - private economic actor dealing with producing goods or providing
services

Enterprise - an organization, typically a corporation, engaged in commercial, industrial,

or professional activities.

Culinary- a broad term that refers to the preparation, cooking, plating, presentation, and
service of food.

Pastry - stiff dough made from flour, salt, a relatively high proportion of fat, and a small
proportion of liquid

Consumer - is a person who buys things or uses services.

Business - is an economic activity that involves the exchange, purchase, sale or

production of goods and services with a motive to earn profits

Products - as an item that can be offered to the market and has the ability to satisfy the
market's need or want

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 CHAPTER II

RESEARCH METHODOLOGY

This chapter discusses the research design, respondents of the study, locale of the study,
materials and instruments, data gathering and procedure.

Research Design

The researchers will be employing a descriptive methodology and will make use of
survey questionnaires as their primary research instrument. The survey will be
administered by disseminating carefully structured questionnaires to a predetermined
group of participants, which will primarily consist of students enrolled at PHINMA-
Araullo University. From this group of participants, a random sampling will be conducted
to assess their opinions on croffles and their diverse flavors. In addition to the survey,
interview guide questionnaires will also be incorporated to further enhance the research
process.

Respondents of the Study

The research participants will be specific and potential customers of the proposed
business product. The respondents will be chosen in a random manner, encompassing a
group of proposed number of students, staff members, and teachers from PHINMA-
Araullo University.

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Locale of the Study
The forthcoming study will be carried out at PHINMA Araullo University, situated along

Maharlika Highway Bitas, Cabanatuan City. This location has been chosen as the

research site due to the presence of the respondents within this vicinity

Materials and Instruments

The researchers will be utilizing two classes of data, namely primary and secondary data.
They will obtain the necessary data required and gather factual information that will be
employed by the researchers for identifying and ascertaining the information pertaining
to the research topic, which will be answered by the respondents.
Primary Data
The researchers will be employing a survey questionnaire to collect data from the
respondents regarding the pertinent research topics. This survey questionnaire will
encompass a variety of questions derived from the Establishing Croffle Small Business
Enterprise.
Secondary Data
The researchers will be collecting information from various sources such as the internet,
books, and other research studies that pertain to the topics at hand. This gathered
information will serve as guidance for the researchers as they prepare for their studies.

19
Data Gathering Services

FOR THE
APPROVAL OF THE
QUESTIONNAIRE

WILL BE
DISTRIBUTING THE
QUESTIONNAIRE

COMPILING ALL
THE
QUESTIONNAIRE

FOR TABULATION,
ANALYSATION AND
PRESENTATION OF
DATA

Figure 3: Data Gathering Procedure Diagram

The researchers will be following all the methods and procedures in order to get the

instruments that will be utilized in this study.

Step 1: The researchers will formulate a survey questionnaire and will submit it for the

approval of feasibility adviser Mrs. Aileen Bagasan and the BSBA Program Head Mr.

Jann Mark Morales Estremera.

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Step 2: The researchers will conduct and distribute each questionnaires that contains two

sections; the initial segment will get some information about the data of the respondents,

The second part will be the inquiries that will recognize the inclinations of the

respondents. The significant inquiries on the products that the respondents need to answer

will be the final part.

Step 3: Will be collecting all the questionnaires from our future respondents.

Step 4: The researchers will tabulate, analyze then proceed on interpreting the data that

will be gathered for the final presentation.

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 SURVEY QUESTIONNAIRE

Dear PHINMA- Araullo Students

We, the third year students from Bachelor of Science in Business
Administration Major in Marketing Management of PHINMA- Araullo University are
currently conducting a business feasibility study entitled “ A Feasibility Study of
Establishing Croffle Business”, in partial fulfilment of the requirement for the degree of
Bachelor of Science in Business Administration Major in Marketing Management.
We would like to ask for a short moment of your time to answer our survey
questionnaire. Rest assured that all dta or information recorded will remain private or
confidential and will only be used for academic purposes. Your cooperation will certainly
be appreciated by us. Thank you for your kind consideration and may our Lord bless you.

Respectfully,
Researchers

Buayaban, Oliver Lagasca, Soren

Bulalayao, Crystal Ashley Madrigal, Rayzzah
Dela Cruz, Roseanne Malubag, Editha
Domingo, Jonathan Nunez, Joyce Nicole
Garcia, Michaela Joy Santos, Eunice

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“Feasibility Study of Establishing Croffle Business in PHINMA Araullo University”

Name (optional): Email (optional):

Gender: Age:
Course: Residence:

Direction: Please answer all the questions.

Do you like snacks? YES NO
Rate how much do you like snacks from 1 being the lowest up to 10 being the highest.
How much money on average do you spend a month on snacks?

I prefer to buy snacks that I usually buy?

Do you buy trendy snacks?

Do you buy snacks because your friends recommend it to you?

Do you like to see social media contents (Photo/Video) about snacks?

What social media do you use when you search for snacks?

Do you consider the look of the product when you buy snacks?

Do you consider the packaging when you buy snacks?

How often would you eat a waffle?

What time of the day do you prefer eating croffle?

How much is your price range to willingly buy croffle?

If you want to buy croffle, what kind of flavor/toppings do you like the most?

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REFERENCES

LifeSavvy. (2021). What Is a Croffle? It's a Big Food Trend for 2022. Retrieved from
[Link]
[Link]. (2017). Chef Louise Lennox - Cuisine de France Croffle. Retrieved from
[Link]
Paris Unlocked. (2023.). History of the Croissant: How France Adopted It. Retrieved
from[Link]
france-adopted-it/
Hungry Forever. (2017). Croffle, the Latest Food Trend to Hit Instagram. Retrieved from
[Link]
Mentalfloss. (2022). Croffle: The Croissant-Waffle Hybrid Food. Retrieved from
[Link]
Rappler. (2021). Croffles: Why Waffle Lovers Should Try This New Pastry Trend.
Retrieved from [Link]
lovers-try-this-new-pastry-trend
Cosmo Philippines. (2021). What Is a Croiffle? Retrieved from
[Link]
When in Manila. (2019). Look: This Croffle Is a Heavenly Mix of Croissants and
Waffles. Retrieved from [Link]
mix-of-croissants-and-waffles/

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