Philippine E-Journals

Feasibility Study on Establishing a Resort in Camiguin Island

Lavenia M. Abajon | Alvin I. Jallores | Angelo James A. Ramos | Khen Laurence R. Solanoy | Frances B. Vicente

 

Abstract:

The study was conducted to determine the feasibility of establishing Macao Cold Spring Resort in Barangay Tupsan Pequeño, Mahinog, Camiguin Island. The study has five components: the marketing study, management study, technical study, financial study and socio-economic study. The specific objectives of the study are to determine the opportunities of the business; to determine the form of business ownership to be adopted; to verify the forms of raw materials needed to produce and operate the business; to establish the capital needed for the start of the operations; to know the assumptions needed to be formulated to form the basis for the preparation of the financial statements; and, to figure out if the business will provide benefit to the society, economy, and to the environment.</p> <p style="text-align: justify;">The resort is a sole proprietorship of Mr. Maximo Gerino W. Paderanga. The total land area of the project site is 9,577 square meters. The cost of the resort is P95,000,000.00 subject to obligatory adjustments. In the event that additional capital will have to be invested, the proponent’s siblings will help in financing the additional expenses for the construction of the resort. The proponent is also open to other alternative means of financing such as borrowing funds from the banking institution to help defray the cost of construction of the resort.