Progress Report of Arctic Mist Purified Water Partnership

From November 24, 2017 up to December 6, 2017

Members:

Baluyot, Jane Ann

Dancel, Kyle

Dela Cruz, Fred

Vasquez, Ram

November 24, 2017

We had our first meeting at room 210. Attendance was complete. We talked about our chosen
business. Suggestions were made for our business name and our projected location. Name was settled
to be Arctic Mist Purified Water which means mountain fog or moist that was suggested by Mr. Dela
Cruz. We used this name to indicate that the water we will be selling is as cool and refreshing as
mountain fog or moist. Next we talked about places with a projected high market demand. We choose
the Balanti San Isidro Cainta Rizal that was suggested by Ms. Dancel. Ms. Dancel also represented to
make the business logo. Lastly we talked about visiting the location dated to be November 27, 2017.
Then meeting was adjourned.

November 27, 2017

Our location visit was rescheduled on November 30, 2017 due to personal priorities of each one
of us. I Ms. Baluyot and Ms. Dancel talked over the phone about the business permits to get for the
business. Since she is a resident there she is the one assigned to ask for the business registration needs.
The rescheduled date was Thursday a holiday.
November 30, 2017

The meet up place was Ms. Dancel’s house at exactly 9:00 in the morning. Attendance was
complete. Since it was a holiday the barangay hall was closed. But we already have a list of forms to be
filled up for the business registration permits (DTI form, Mayors Permit, Sanitary Permit, Water chemical
test Permit, FDA approval, BIR form no. 0605) with an estimated PHP 10,000 to PHP 15,000 total cost
which depends on the registration process. We also talked about the survey that we will do for a better
understanding of our chosen business. We also made a costing for our business which resulted to a PHP
100,000 contribution of each members. Here is a brief view of the costing made.

Cash on Hand 100,000.00

Inventory 7,600.00
Supplies 15,600.00
Furniture’s and Fixtures 5,800.00
Equipment (water filter machine) 160,000.00
Equipment (delivery) 6,000.00
Organization Cost 10,000.00
Rent Expense 20,000.00
Renovation Cost 75,000.00
Total 400,000.00

Note:

 Inventories are composed of the Bottles (Round and Slim), Stickers for both (with the company
logo, Name and contact details), seal for both.
 Supplies are composed of the Cleaning materials (bottle cleaning and Area Cleaning), employee
hygiene (Mask, Hair Net etc.), and other store needs (Record books, OR, Heat Gun etc.).
 Furniture and Fixtures are composed of Air conditioning unit, table and Chairs.
 Equipment for water filtration is a deluxe machine free installation and delivery.
 Equipment for delivery is a bicycle with side car.
 Organization Cost are Business permits.
 Rent is 2 months advance (PHP 10,000 monthly rent)
 Renovation Cost is for making a sink and a comfort room.
o Materials
o Labor is 70% of materials used

We also talked about our selling price through our competitors price model (30 for slim and 35
for round). We had decided to reduce our price to 25 for slim and 30 for round.
 We also talked about our projected monthly expenses.

Expenses:
Rent 10,000.00
Maintenance 2,000.00
Purchases 5,000.00
Salaries 9,000.00
Utilities 6,500.00
Dep. Expense 1,333.00
Total: 33,833.00

Note:

 Maintenance is every 6 months. We agreed to divide the maintenance cost to 6 months to avoid
bulk expenses. Total maintenance cost is PHP 12,000 every 6 months.
 Purchases was agreed to be PHP 5,000 every month for the replenishment of supplies and
inventories.
 Salaries is for the delivery boy PHP 300 per day.
 Utilities for water, electricity and telephone bill.
 Depreciation is PHP 16,000 yearly.

We determined our market demand to be 500 families only from an estimated 2,000 family market
population.

We also made our organizational chart.

We also made the Job Description and Job qualifications.

Finance Head Job Description:

 Cash inflow and outflow

 Cash deposits to bank
 Partnership books
 Disbursement authorization

Inventory Custodian Job Description:

 Supplies control
 Inventory count
 Purchase of supplies and inventories

Cashier job Description:

 Sales (everyday)
 Emergency Expense
 Official Receipt signatory

Maintenance and Operations manager

 Cleaning of bottles
 Refilling of bottles
 Area Cleaning
 Maintenance check

Delivery Boy Job Description:

 Delivery of water

Finance Head Job Qualifications:

 BSA Graduate
 CPA
 Computer literate
 Atleast 25 yrs. Old
 With a 3 yrs. Work experience in financial reporting
Inventory Custodian Job Qualifications:

 College Graduate
 Computer literate
 Atleast 25 yrs. Old
 With a 3 yrs. Work experience in inventory management

Cashier Job Qualifications:

 Atleast high school Graduate

 Atleast 25 yrs. Old
 With a 3 yrs. Work experience in sales management

Maintenance and Operations manager job qualifications:

 High school Graduate

 Atleast 25 yrs. Old
 With a 3 yrs. Work experience in water filtration maintenance and management

Delivery boy job qualifications:

 With good police record

 Atleast 25 yrs. Old

We finished it around 5:30 in the afternoon.

We would like to ask for any corrections and suggestions maam. Thank you and god bless. 😊