i-Food Co.,Ltd.

[i-Food] 1

PREFACE

This Project is a part of 1203302 Project Feasibility Study and Evaluation Course in

the second semester of 2010. In this project is studying the feasibility of frozen food producer

in Samutsakon Thailand, which is include generally of frozen food industry, management,

competition analysis and marketing feasibility, the technical process in frozen process, the

financial feasibility, and risk of the industry.

This project makes everyone who interested to get knowledge and information about

frozen food before make decision to investment for the benefit to investment and profit of

doing this business.

We expect that our project will provide benefit more and more interested person,

moreover, if they are any error in this project or whatever, our ground made an apology at

this opportunity.

GROUP MEMBERS

MR.SOPHON KIMKAEW

MR.THANATHIP CHAISEN

MS.SUCHADA FANGPONG

MR.CHAOWALIT BOONSIRI

MR.ITTIPHAT NARONGPHUNT

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TABLE OF CONTENT

CHAPTER 1: INTRODUCTION..........................................................................................................6

1.1 Background and significance of the project............................................................................6

1.2 Project objectives.....................................................................................................................7

1.3 Activities/time frame...............................................................................................................8

CHAPTER 2: INDUSTRY PROFILE...................................................................................................9

2.1 Nature of industry..........................................................................................................................9

2.2 Situation of industry.....................................................................................................................10

2.3 i-Food Product.............................................................................................................................13

2.3.1 i-Food Packaging.................................................................................................................14

2.4 Vision of your organization.........................................................................................................15

2.5 Mission.........................................................................................................................................15

2.6 Business strategy..........................................................................................................................15

2.6.1 Corporate level...................................................................................................................15

2.6.2 Business level......................................................................................................................16

2.6.3 Function level......................................................................................................................16

CHAPTER 3: MARKETING ANALYSIS.........................................................................................19

3.1Environment Analysis...................................................................................................................19

3.1.2 General Environment Analysis............................................................................................19

3.1.3 Competition Analysis..........................................................................................................21

3.2 STP Analysis................................................................................................................................24

3.3 Marketing Mix Strategy...............................................................................................................25

Product........................................................................................................................................25

Price.............................................................................................................................................27

Promotion....................................................................................................................................28

3.4 Sale for cash-profit Estimation....................................................................................................29

3.5 Marketing Exchange (Sale incentive)..........................................................................................34

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3.6 Conclusion...................................................................................................................................37

CHAPTER 4: PRODUCTION AND OPERATIONS ANALYSIS.....................................................38

4.1 Product characteristic of i-food....................................................................................................38

4.1.1 Production Process and Raw material................................................................................39

4.1.2 Process to produce frozen food..........................................................................................49

4.1.3 The location and building....................................................................................................55

4.1.5 Facility management...........................................................................................................62

4.1.6 Machine tool and Equipment.............................................................................................63

Summary cost of equipment and tools........................................................................................71

4.2 Cost of investment.......................................................................................................................72

4.2.1 Rent....................................................................................................................................72

4.2.2 Total Pre operation cost.....................................................................................................72

4.2.3 Logistics Management........................................................................................................73

Summary logistic cost..................................................................................................................76

4.3 Investment cost............................................................................................................................77

4.3.1 Approval for establish factory.............................................................................................77

4.3.2 Depreciation.......................................................................................................................80

4.4 Operating cost..............................................................................................................................80

4.4.1 Raw material cost...............................................................................................................80

4.4.2 Overhead............................................................................................................................81

4.5 Management Analysis..................................................................................................................84

4.5.1 Administration Cost............................................................................................................84

4.6 The summary of cost..............................................................................................................93

CHAPTER 5: FINANCAIL MANAGEMENT...................................................................................94

5.1 Profit and loss statement..............................................................................................................94

5.2 Cash flow statement...................................................................................................................100

5.3 Balance sheet.............................................................................................................................105

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Financial Analysis.......................................................................................................................110

CHAPTER 6: RISK MANAGEMENT......................................................................................................111

6.1 Risks Analysis............................................................................................................................111

6.1.1 External Risks....................................................................................................................111

6.1.2 Internal Risks.....................................................................................................................114

6.2 Conclusion of Risk Management...............................................................................................117

CHAPTER 7: CONCLUSION..........................................................................................................118

References.........................................................................................................................................119

APENDIX............................................................................................................................................126

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CHAPTER 1: INTRODUCTION

1.1 Background and significance of the project

Nowadays the innovation is get ahead of for respond demand of human and hurry life

in rush time.Speed and quickly are the mains factor in daily life ,Then everybody divert to get

delicatessen for consumption. Such as freeze food, which can store for a long time and when

you hungry, just take it in to microwave for a few minute. Thailand have many entrepreneurs

in freeze food market, Such as CP, Quick meal from S&P , Eazy meal brand from Suraporn

food and Prantalay.

Source: http://library.dip.go.th/multim1/ebook/J%20 กสอ 127%202552.1.pdf

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Table 1 Forecasting: Retail volume sales growth

Delicatessen during year 2005-2010

http://library.dip.go.th/multim1/ebook/J%20%E0%B8%81%E0%B8%AA%E0%B8%AD127%202552.1.pdf

From table 1 show growth rate of frozen food and customer consumption are growth

continuously. So, it’s a good opportunity fine a new way of frozen food to serve customer

need in future. This project try to study feasibility in frozen food market in frozen industry,

source of raw material, process in manufacture, place for contain, competitors in Thai and

foreign, and sustainable of financial.

1.2 Project objectives

For studying feasibility of financial before invest or start business

For fine feasibility to be one market share of frozen food manufacturer in Thailand.

For study the way to expedient over competitive in long-term

Find way to built up factory and distribution channels

1.3 Activities/time frame

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Activities November 2010 December 2010 January 2011 February 2011

Time frame(week) 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4

1. Business Project

Identify

2. Market Analysis in

chapter 1Introduction

3. Market Analysis

chapter 2_Industry

Profile

4. Technical Analysis in

chapter 3

5. Financial Analysis

6. Risk Analysis

7. Clean Up Project

8. Project Evaluation

9. Presentation

CHAPTER 2: INDUSTRY PROFILE

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2.1 Nature of industry

Frozen foods refer to foods that ready to eat are in frozen just melting ice and warm to

hot then you can eat immediately which identified into two main categories: General

delicatessen and Dim sum. Over 90 percent of frozen food market is international markets,

but domestic markets is still very small that have only 5-10 percent because of Thai prefer to

eat foods from fresh cooking both at home and/or purchased from restaurants or supermarkets

unlike the international markets which consumers have quite few channels to buy.

Frozen processed food has experienced considerable growth during the review period.

Other frozen processed food accounts for the largest share of sales thanks to the product

variety offered within this category. Modernization and hectic lifestyles serve as the main

drivers of demand. In addition, frozen processed food is not only perceived as being more

convenient but also more hygienic compared to some pre-cooked food sold at hawker centers

or on street stalls.

Investment in the frozen food business with a production capacity of 200,000 pieces

per day have to invest about 50 million Baht that classified into fixed assets 40 million Baht

and working capital 10-12 million Baht that raw materials are 60 percent, cost of production

26 percent, and wages 14 percent of total production costs.

Product coverage: Frozen Bakery, Frozen Desserts, Frozen Meat Substitutes, Frozen

Noodles, Frozen Pizza, Frozen Processed Fish/Seafood, Frozen Processed Potatoes, Frozen

Processed Poultry, Frozen Processed Red Meat, Frozen Processed Vegetables, Frozen Ready

Meals, Frozen Soup, Other Frozen Processed Food.

Source: http://www.reportlinker.com/p0176843/Frozen-Processed-Food-in-Thailand.html

2.2 Situation of industry

Thai Food Industry and World Competitiveness

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http://www.reportlinker.com/p0176843/Frozen-Processed-Food-in-Thailand.html

From the last issue, I promised to write about “Ready food in Seven-Eleven in Japan”.

But with the requests from readers wanting to update about situation of food and agriculture

products in the next year, so I would like to apologize for changing the topic. However, in the

next issue I will go back to “Ready food in Seven-Eleven in Japan” as promised.

In 2008, Thailand exported in the rank 13th in the world, valued 23,864 million US

dollars (approximately, 800,000 million Baht which is accounted of 2.4% of the total world

food export). While USA was the largest world food exporter, of 111,054 million US dollars

(approximately, 3,000,000 million Baht which is accounted of 11.1% of the total world food

export). However, when calculated export value of all 27 EU countries, EU became the world

largest food exporter with total value of 462,838 million US dollars or 4 times of the USA.

Although Thailand was in the 13th rank of the world, but when analyzed export value

to export quantity (US dollars/ton), we found that exported foods from Thailand had value

per unit higher than foods from many countries. When considered in rank of value per unit,

Thailand was in the 5th rank. USA and the Netherland had the lower value per unit by being

in the 6th and 7th ranks, respectively. Looking at EU, uniting together made the higher

competitive potential in the world market. It is interesting to look at Thailand if we have

strategy to unite in trade within the region. We may enhance our potential in trade same as

EU.

Therefore, our food strategy towards safety and quality foods did increase export

value of products and also strengthen good image of Thai foods which altogether lead to total

better country’s economy.

Considered 4 main foods i.e. rice, seafood, meat and poultry, and fruit and vegetable

Rice – Thailand is the world largest rice exporter, in 2008, we exported 15,000 million US

dollars or 42% world market share.

Seafood – (including shrimp and all kinds) - Thailand was in the 3th rank of the world

export, valued 6,000 million US dollars or 8% world market share. We were in lower rank of

Norway (7,000 million US dollars) and China (9,000 million US dollars).

Meat and Poultry – (of all kinds - chicken, duck, swine, kettle, goat, sheep, etc.)-Thailand

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exported in the rank 18th of the world, valued 2,000 million US dollars or 2% world market

share. If considered only chicken, we exported processed chicken meat number one in the

world. But if included fresh and processed chicken, we were number 4th with 5% market

share. And if looked at duck meat, we were number 4th with 8% market share.

Fruit and Vegetable – Thailand was the 16th exporter, valued 2,000 million US dollars or

2% market share.

Besides, Thailand had many exported food items in the upper lists of the chart (as can

be seen in Table 3) or could say that some items we were the biggest players in the market

such as rice, chicken, shrimp, and pineapple. All as mentioned we were number one.

Competitiveness and Potential among Countries

When considered competitive potential among countries we found interesting

information as follows:

Brazil and Argentina – These two countries have abundant resources, low cost of

quality meat which is cheaper than other countries, resulting in higher competitive cost of

raw materials.

China – During these years, industries in China grow tremendously. But with the

food safety crisis arose such as melamine case, made Chinese food industries lost confidence

and shrank down. However, China has her own population that suspends high purchasing

power together with the stricter measures on food safety. Believed that China would come

back to grow in food industry very soon.

Indonesia – the major sea foods exporter due to abundant sea resources and the

biggest off-boundary fishery in the world. In 2008, Indonesia had food export value of 23,191

million US dollars which was somewhat near to Thailand.

Malaysia – Tried to be a “Halal Hub” because of the high potential and purchasing

power of Muslim people all over the world. In 2008, Malaysia had the export value of 21,229

million US dollars which was near to Thailand.

Vietnam – another country that has tremendous growth in food industry development

in 10 years. Recently, Vietnam had declared devaluation which stimulated export since

foreign buyers thought of higher value for money from buying Vietnamese products.

Thailand – when compared with Indonesia and Malaysia, found that these 3 countries

had no difference in potential and competitiveness in food industry. Indonesia and Malaysia

[i-Food] 11

also had clear policy on food industry which resulted in continuous industry growth. For

example, Indonesia announced policy on shared investment with foreign fishery which gave

rise to attract many foreign investors. The same as Malaysia for the policy of being a “Halal

Hub” which stimulated food industry growth. Therefore, Thailand should lay down robust

policy with clear direction in order to retain competitiveness in the future.

Factors influencing success of Thai Food Industry

1. Thailand has abundant resources – Food Industry was the first industry that

obtained support from government since we announced the use of the first National

Economic and Social Development Plan in 1961. Because food industry used less investment

while consumed local raw materials that benefited agricultural sector for sustainable

development of the country. Therefore food industry should be the major strength of Thailand

that obtains continuous support from the government.

2. Thailand has high potential in producing foods for export – due to strong

agricultural base and abundance that can be used for producing various kinds of foods.

3. Quality labors – skilled and trained labors are available for the industry that make

Thai products more value added.

4. Customer confidence on Thai foods in production process and quality- We

have followed strong quality standards on food products such as GMP, HACCP, Animal

Welfare etc. Also traceability forwards and backwards all along processing line from farm to

table is fixed to make consumers confident in our safe and quality foods.

5. Modern technology – We use modern, cutting-edge technology along all food

processing line to produce and control product in quality. We also pay attention to reuse

waste to turn to energy for environmentally friendliness. This makes more competitiveness in

cost.

6. Customer acceptance on sharp delivery and product liability.

Source:http://www.foodindustrythailand.com/v17/index.php?

option=com_content&view=article&id=1435:future-food-product&catid=55:food-

safety&Itemid=142

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http://www.foodindustrythailand.com/v17/index.php?option=com_content&view=article&id=1435:future-food-product&catid=55:food-safety&Itemid=142



2.3 i-Food Product

i-Food’s product emphasize to show characteristic of common Thai food with another

view in healthy and fresh seafood. Common food is identity and Thai people have known as

well. i-food has two main frozen Thai food that will produce and sell to market.

Squid basil rice

The Common Thai food that everyone in

Thailand already know.Squid basil rice have

identity is good smell from basil. This is the

first product of i-food ,the highlight of this

product that made common basil rice

different from general basil rice is we put

fresh squid in this menu to attach consumer

to buy this product.

Shrimp fry rice

The second menu of i-food is “Shrimp fry

rice” ,another common food in Thailand, but

i-food increase value by fill fresh shrimp in

this menu.

2.3.1 i-Food Packaging

We design package in style and size to appropriate food. We design label to see

clean, easy, clear, quickly, and attractive.

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2.4 Vision of your organization

i-Food want to be leader of frozen food manufacturer in Thailand. We wish every

gender and generation can consume in every day and every time.

Product position “i-Food support your Life, support your Time”

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2.5 Mission

We set our mission to……

Find new way for distribution to satisfy customer need on time in the future.

Find new taste, new sea food in variety regularly.

Use technology to improve to high quality of product. And

Pay for advertising on effectiveness.

2.6 Business strategy

2.6.1 Corporate level

i-Food Inc. will lead company by use stability strategy to operate in primary.

We will don’t have investment in first time, but emphasize to make i-Food company

to be stronger.

After i-Food’s strong already, i-Food Inc. will operate by use growth strategy.

Three ways we use to growth business:

1. New investment in new business that support frozen food product.

2. Invest in new business that doesn’t involve with frozen food product. It’s

strategy use for share risk of investment.

3. Try to collect alliance to make our company stronger.

2.6.2 Business level

I-Food Inc. will be leader’s frozen food in low cost product. We set price

lower than competitors. Moreover, we will add new value into the product to make

[i-Food] 15

differentiation between I-Food Inc. and competitors, then to put new product to satisfy new

customer needed.

2.6.3 Function level

Administration

From our mission, we would like everyone able consume in every time and

everywhere. So, we try to distribution channels in 7-11 convenient stores in primary.

Secondary we will fine new distribution way. Then fine new menu. for I-Food, the main

target is customers that we must first take care and attention. So shop following our quality

products and process. Includes the shop decorate and customer service.

Administration Strategies

We will control quality of product before distribution and do resource and

development for food menu and new distribution channel.

Business Strategies

Our shop is decorated restaurant that is interesting.

- We are offering new promotions for regular customers and temporary

- Build strong relationships with customers.

Marketing

I-food will set located at Bangkok market, so our target market is students and officer who

have a limited time around the area where we sold products. However, we will promote our

business known many people. Within two months, we will be advertising, and more expand

our business in the future.

Marketing Strategies.

We are offering advertising to customers who buy our product. Special promotions such as

buy 10 get 1.

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- Good Service.

- expand many stores in Bangkok.

Production

To help Thai farmers better income and improve the Thai economy. We will use all the

ingredients and raw materials to Thailand for our products. We will support a low seafood is

different from other products, focusing on the quality of raw materials and manufacturing

processes are attractive in fashion Such as food box might be an interesting pattern. And tell

to get nutrients per day or benefit from the nutrients. Our production volumes are based on

customer needs and market. We will reduce the range of products that our customers are

holidays or long weekends because we cannot sell.

Production strategies.

- Production must be supported customers' needs.

- Cleanness production processes

- A good quality of raw materials.

- We need to preserve the flavor of the product at all times.

Human Resources.

We will be focusing on the performance of our employees. By providing knowledge of

systems and manufacturing processes. We want to develop our people in every day of their

work. Work will be higher quality. However relationship between employees is very

important because it will get success in business quickly.

Human Resource Strategies.

- Training and appropriate guidelines to the employees always ready to work.

- Create incentives to employees by increasing the bonus.

Financial.

We should have a good financial system. And have a good capital to build confidence with

entrepreneurs or loan money.

Financial Strategies.

[i-Food] 17

- Find a low interest loan.

- We will make expense account receipts every month. To know the total sales

- saving economic such as water and electricity

CHAPTER 3: MARKETING ANALYSIS

[i-Food] 18

3.1Environment Analysis

3.1.2 General Environment Analysis

Political

Today, the government have a problem in the agricultural, the government

guaranteed price from the use raw material so agricultures result in improving the

quality of sales. Since its raw material comes from agriculture. The results are

produced on high quality, will help choose material for Production of higher quality

and better at lower cost

http://www.ryt9.com/s/tpd/851395

Economic

In 2552 the Thai economy contracted 2.3 percent from last year is the first

time in 10 years because of the global financial crisis. It Impact on the economy of the

country's main exports to Thailand's and the manufacturing industry. Private company

not confident includes consumers and investment in country. The Thai economy

contracted the most in the first quarter and began to recover in the second half of the

year 2552 as global economic. Combined with the relaxed monetary and fiscal

policies have helped stimulate the economy and encourage the confidence of

producers and consumers improved in order

http://www.bot.or.th/thai/economicconditions/pages/index.aspx

Social

Today, consumers change behavior consume because the lifestyle and way of

life hurry to work. The wife house having to be tied in with the purchase of frozen

foods and can be heated in a microwave. Ready to eat, whether in the morning before

going to work or to school or after we finish working

http://www.arip.co.th/businessnews.php?id=412312

Technology

[i-Food] 19


http://www.bot.or.th/thai/economicconditions/pages/index.aspx


Now, Human learns to know nature from and around environment that can

survive until the discovery process

of new inventions. The growth of

food processing technology may be

used to display the material

progress of the community.

Because social change eating in

food processing technology

advances, such as canned food or

frozen food.

http://www.swu.ac.th/royal/book5/b5c6t1.html

Quick Freezing

Before refrigeration units became widely

available in homes in the early 1920s, cooling

techniques were stagnant among food producers.

Clarence Birdseye, a recent college graduate,

was working in Labrador region of eastern

Canada. In cold temperatures, the local native

Inuits showed Birdseye how to freeze fish, duck

and caribou. He came to understand that the very

low temperatures at which the fish were frozen

sped the freezing process, thus producing a much fresher and more desirable result when the

fish was thawed.

Invention and Manufacturing

[i-Food] 20

http://www.ehow.com/education/

http://www.swu.ac.th/royal/book5/b5c6t1.html

Birdseye took the technique home to New York in 1922 and began experimenting

with freezing food at a local refrigeration company. His result was quick freezing of

packaged foods but consumer interest waned. In 1925 Birdseye patented a new invention,

which froze food under pressure between belts pumped with a brine solution to freeze

vegetables and meats in their packaging. This procedure allowed the frozen foods to be easily

sold to consumers. The invention took off, and he sold his company, the General Seafood

Co., and patents to Goldman Sachs and the Postum Co. The resulting corporation was food

giant General Foods.

Mass Marketing

Birdseye was the first individual to invest in insulated freezer trucks, which were

required to get frozen food further distances from the manufacturing location, and eventually

nationwide. As home refrigeration blossomed in the 1940s, frozen food was already being

produced and sent to markets throughout the country.

Read more: Frozen Food Technology | eHow.com

http://www.ehow.com/about_5561411_frozen-food-technology.html#ixzz18CYcxJgp

3.1.3 Competition Analysis

In Thailand frozen foods has pervasive both in delicatessen group such as frozen

shrimp, frozen fish, until frozen food ready to eat such as rice box that have many menu.

In the market have a lot of entrepreneur both big entrepreneur, old entrepreneur and

new entrepreneur. These entrepreneur interested in entering the menu of frozen food to the

market for example CP sand Ready Meal brand of CP and selection on sale in convenience

stores. There are various menus in group of staple food and snack various nationality such as

Thai food, Japan food and Chinese food. Although is a new segments but consumers will to

consume. In the group of food have increase the new product comes out recently, including

Japan food such as menu Rice Grilled Salmon Teriyaki, Pork Curry Rice Japan and Chinese

food in categories of noodles such as noodle and noodle salad, the category of all food it all

depends on the nature of popular consumer in each period. CP have survey research and

needs of consumers are always

[i-Food] 21



Quick Meal form S&P Company when talks the name S&P is names that sound

familiar it is not difficult of the S & P with use the brand of the restaurant and fame of quality

to guarantee taste and quality than aims to market frozen foods ready to eat gradually.

Believes that S&P will increase market size of frozen food.

Source: http://www.snpfood.com/export/export_seafood.php

Easy Meal brand of Surapon foods is a leader company in part of manufacturing

industry and export of frozen seafood in Thailand. Now Surapon food changes the old market

that emphasizes export. Come to emphasize market in Thailand more. By putting the image

and quality of Easy Meal in premium level. Easy Meal Separate 3 category includes group of

rice, type of candy and frozen foods for children. Components of the food is seafood the

expression of a seafood exporting company.

Source: http://www.surapon.com/index.html

Brand of PFP Company start from fame in part of fish grind frozen or Surimi in

business seafood group processes complete that produce and sell food products processes

fully cook that make from fish meat grinds frozen in various type for export. PFP come back

to market in Thailand and rank oneself is a leader in products group processes the seafood

frozen and in this year PFP plan business for enlarge the way to sale food processes Including

adding the list of food more than 10 the list send reach the department store.

Source: http://www.pfp-pacific.com/pfp5/index2.php

Prantalay emphasize the leadership presents new innovation of seafood products and

ready to cook food go together with build the clearness in about the seafood for the health

with new project “good healthy good brain with Prantalay over all Thailand 2010.” Emphasis

to advantage from seafood and cover social activity, can be considered building the brand in

premium level of Prantalay also

Source: http://www.prantalay.com/cms/index.php

[i-Food] 22

http://www.prantalay.com/cms/index.php

http://www.pfp-pacific.com/pfp5/index2.php

http://www.surapon.com/index.html

http://www.snpfood.com/export/export_seafood.php

The table compares competitors frozen food in Thailand

Brand company Packing Price No. menu Target group

EzyGo 7-11

company(Thailand)

250-350g 29-45 BTH 17 menu New

generation

group 25-34

QuickMeal S&P Syndicate

Public Company

Limited

350g 42-59 BTH 8 menu -

Prantalay The Union Frozen

Products Co., Ltd.

290-300g 26-35 BTH 40 menu -

Easy Meal Surapon Foods

Public Company

Limited

300-400g 40-69 BTH 10 menu -

Deli Thai C.P. Retailing and

Marketing Co.,Ltd.

250-350g - 22 menu -

Tuppe Pacific Fish

Processing Co.,

Ltd.

- 40 BTH 6 menu -

i-Food i-Food

Copany.,Ltd

270-277g 29-39 2 menu Mass market

[i-Food] 23

3.2 STP Analysis

Segmentation

Frozen food consumption by age (Random 200 people in July-August 2007)

Less than 25 year old

25-35 year old

Upper 35 year old

Source: http://www.arip.co.th/businessnews.php?id=412312

We emphasize severe product to target customer from research behavior of

consumption frozen food that show about the first is Demographic Segmentation. From the

result that shows more than 50 % of male/female consumer below 25 years old consumption

frozen food for 36.0% and 25-35 years old consumption frozen food for 34.0 % and the last is

upper 35 years old for 30 %. The important about consumer is revenue and occupation; from

the result from NANO search show about statistics of revenue and occupation that

consumption frozen food. That show most of consumers have revenue below 10,000 baths for

50 % and between 10,001 – 20,000 for 38 % and most of consumers are student and officer.

The second is about Psychographics Segmentation in life style and healthy, from the research

show about more than 70% of consumers, they believe that frozen foods can reduce their

times and have benefit for them. About healthy more than 50 % of consumers have view for

frozen food that they believe the frozen food have nutrient for healthy because it fresh after

warming with microwave.

Target

I-food targeting on the frozen food market, on the officer and student in 18-25 years

old. There are more competitors in this market share in frozen food but we look at the gap

that we think that is our opportunity, which emphasize in kind of frozen seafood to take this

gap to gain the profit.

Position

[i-Food] 24


I-Food set position of frozen food in medium class. That is position, which

appropriate with price and quality. I-food have identity of brand and different from other

brand such as rush hour life style. Except this we set our product in another view, that is

healthy and price, Nutrient for healthy in product and price. I-Food can set the price not too

high but can give more integrate in a product, because I-food can find raw material in low

price and fresh, then this is highlights of I-food. “Save your time, save your life”

3.3 Marketing Mix Strategy

Product

I-Food’s product emphasizes to show characteristic of Common Thai food with sea food.

Because of sea food menu is hard to find and delicious, if customer does not live near the sea.

Beside that, quality and low price is main characteristic. We use fresh shrimp and squid from

Mahachai market ,where the fresh and cheap seafood in Thailand.

[i-Food] 25

Package detail:

Two filling plastic box + Lid

Characteristic: size 12*18* 4.5 cm Weight 20 g (Can use with microwave)

http://foodpackage.tarad.com/

product.detail_269672_th_2107298

Paper package (Paper box)

Characteristic: size 3*18*4.5 cm. Weight 10g

Source: http://www.ppcfactory.co.th/

Price

[i-Food] 26

http://www.ppcfactory.co.th/

http://foodpackage.tarad.com/product.detail_269672_th_2107298


We set all of product to 39 bath. Because this price is appropriate to the product by

the quality , quantity and target group. We use “39 bath” but not use “40” bath because this is

one of price strategy , cause “39 bath” it look like cheaper than “40 bath” but it just 1 bath.

Place

We choose “7-eleven” to distribution our product to customer, because it’s easy to

create brand image from this distribution channel. The important about our distribution

channel is our product is a frozen food that focuses on convenient store, then the 7-elenven is

first choice in our opinion. 7-eleven have franchises more than 5,000 franchises in

Thailand.When I-food has agreement with 7-eleven, they will distribution our product to

target groups in every region in Thailand.

Source: http://www.7eleven.co.th/corp/franching_main.php

Promotion

[i-Food] 27

http://www.7eleven.co.th/corp/franching_main.php

Promotion is part of a marketer can always rely on. Doing market with all activity for

announce to customers know what products are specially and encourage target group to pay

attention and decide to buy. i-Food start by bringing products for mass media tastes to the

publisher, this method may be make to mass media sympathetic and present information of

product. Later we will release via the Internet. Everyday all website open opportunity to

advertising, buy-sale freely. And to increase opportunity via many alternative distributions,

we will look for business partners as the option to make promotions.

Table of promotion activity and cost:

No. Promotion activity Cost per month (Baht)

1 Mass media tastes (PR) 20,000

2 Release via the Internet on

www.i-foodmenu.com

50

3 TV promotion on Thai

channel 7 during midday

news program

120,000

4 Matichon magazine 90,000

*http://info.matichon.co.th/advertising/advertise.php?rate=magaz

*http://www.webddcenter.com/domainhosting/datadomainname.php

[i-Food] 28

3.4 Sale for cash-profit Estimation

From resource about number of students in public and private institutions by grade and level of education: academic year 2002-2009 in

Thailand by Statistical Data Bank and Information Dissemination Division, National Statistical Office of Thailand. In year 2009 number of high

school until Doctorate degree are 7,079,779 and resource by National statistical office of Thailand about number of officer in Thailand in year

2010 show in chart below. http://www.nso.go.th/

7079779

1400000

3300001260000

Number of i-Food Target customer

Student

Officer

Bank officer

Education

[i-Food] 29

http://www.nso.go.th/

Total target customer is 10,069,779 people

Sale forecast for year 1

[i-Food] 30



[i-Food] 31



[i-Food] 32

[i-Food] 33

3.5 Marketing Exchange (Sale incentive)

Selling expense in year 1


[i-Food] 34



[i-Food] 35


[i-Food] 36

3.6 Conclusion

First i-food Company expect target customer purchase product just 10 percent- Squid

basil rice 7% and shrimp fry rice 3%. I-Food forecast sale by increase 1.5% per month on

average. But in month February, March, April, and September sale will decrease. Because of

in these month target group-student and officer are stop to work and study. As a whole, i-food

product has a worth of selling per year growth continuously by 4.8%.

1 2 3 4 5 -

100,000,000

200,000,000

300,000,000

400,000,000

500,000,000

600,000,000

Summary Sale Forecast for 5 years

i-Food Company will pay for selling expense via shipping and advertising. On

advertising, we will promote on website, magazine, and TV. In first year promote advertising

on Thai channel 7 and follow on channel 3, 9. Then last year i-food cancel advertising on

Thai channel 3, cause of high cost.

1 2 3 4 5 -

1,000,000

2,000,000

3,000,000

4,000,000

5,000,000

6,000,000

7,000,000

8,000,000

Selling expense in year 1-5

Selling expense in year 1-5

[i-Food] 37

CHAPTER 4: PRODUCTION AND OPERATIONS ANALYSIS

4.1 Product characteristic of i-food

I-Food’s product emphasizes to

show characteristic of Common Thai

food. Common food is identity and Thai

people have known as well. I-food has

two main frozen Thai foods that will

produce and sell to market.

Delicatessen menus

1. Squid basil rice

Ingredients:

Squid 50g

Rice 130 g

Basil 10 g

Red pepper 6 g

Garlic 5 g

Onion 10 g

Soy sauce 12 g

Granulated sugar 5 g

Oil 5 g

Bean 7 g

Weight: 270 g

Cost per piece: 14.82 BTH (No package)

[i-Food] 38

2. Shrimp fry rice

Ingredients:

Rice 150 g

Shrimp 60 g

Carrot 10 g

Oyster 7 g

Soy sauce 12 g

Granulated sugar 5 g

oil 5 g

Egg No. 4 1

Weight: 277 g

Cost per piece: 14.82 BTH (no package)

4.1.1 Production Process and Raw material

Raw material and source of material

The main raw material get from this local, almost including seafood, such as shrimp

and fresh vegetables. Source of raw material which the importance of seafood from Samut

Sakhon at MahaChai market. While source of raw material as seafood and vegetable are

expand everywhere.

[i-Food] 39

I. Squid basil rice Ingredients

Squid 120 BTH /kg.

Rice 1650 BTH per Sack

http://www.u-rice.com/?gclid=CNazjcikhacCFYQa6wod7gcwdg

[i-Food] 40


Basil 15 BTH/kg.

Source:http://www.srimuangagro.com/index.php?

option=com_content&task=blogcategory&id=34&Itemid=45

Red pepper 60 BTH/kg.

Garlic 160-165 BTH/kg.

Onion 28-30 BTH/kg.

Source: http://www.talad-yingcharoen.com/price.php

[i-Food] 41

http://www.talad-yingcharoen.com/price.php

http://www.srimuangagro.com/index.php?option=com_content&task=blogcategory&id=34&Itemid=45

http://www.srimuangagro.com/index.php?option=com_content&task=blogcategory&id=34&Itemid=45

Soy sauce 184 BTH 6 Liter

Source:

http://www.siammakro.co.th/main/mail_hot.php

Granulated sugar 29 BTH/kg.

Source: http://www.trrsugar.com/aboutus.asp

Oil 720 BTH

Source: http://www.oleen.co.th/product_detail.php?id=188

[i-Food] 42

http://www.oleen.co.th/product_detail.php?id=188

http://www.trrsugar.com/aboutus.asp


Bean 20 BTH/kg.

Source: http://www.talad-yingcharoen.com/price.php

Direction:

1. Pour oil in pan, wait for oil is hot. After that put garlic, pepper, onion and bean

until good smell.

2. Put squid and adjust flavors with soy source and sugar

3. Stir together and then follow with basil until mellow.

II. Shrimp fry rice

[i-Food] 43


Rice 1650 BTH per Sack

Source: http://www.u-rice.com/?

gclid=CNazjcikhacCFYQa6wod7gcwdg

Shrimp 150 BTH/kg.

Source:

http://www.thaiqualityshrimp.com/production/link1.asp?nID=17

[i-Food] 44




Garlic 160-165 BTH/kg.

Onion 28-30 BTH/kg.

Carrot 25 BTH / kg.

Source: http://www.talad-

yingcharoen.com/price.php

[i-Food] 45



Oyster 150 BTH 3 Liter

http://www.tarad.com/_tarad/_templates/b/_modules/gotolink.php?

aHR0cDovL3d3dy50aGFpb3lzdGVyc2F1Y2UuY29t

Soy sauce 184 BTH 6 Liter

Source:


Granulated sugar 29 BTH/kg.

Source: http://www.trrsugar.com/aboutus.asp

Oil = 720 bath / 13 lite

Source: http://www.oleen.co.th/product_detail.php?id=188

[i-Food] 46

http://www.oleen.co.th/product_detail.php?id=188

http://www.trrsugar.com/aboutus.asp


http://www.tarad.com/_tarad/_templates/b/_modules/gotolink.php?aHR0cDovL3d3dy50aGFpb3lzdGVyc2F1Y2UuY29t

http://www.tarad.com/_tarad/_templates/b/_modules/gotolink.php?aHR0cDovL3d3dy50aGFpb3lzdGVyc2F1Y2UuY29t

Egg No. 4 panels at 79.50 Baht

Source: http://www.rachakaikai.com/Product-

priceList.asp

Direction:

1. Chopped garlic and split onion, carrot and put it to the hot oil in pan.

2. Stir until have smell, follow with egg and shrimp

3. Adjust flavor by soy source, sugar and oyster

4. Last, pour rice and mix together until mellow.

Food box (Already screen logo when order more than 3,000 pieces)

[i-Food] 47

http://www.rachakaikai.com/Product-priceList.asp

http://www.rachakaikai.com/Product-priceList.asp

12*18* 4.5 cm (250g) can be use with microwave

300 pieces / box

Price 600 bath at 1 box (2 bath per piece)

http://foodpackage.tarad.com/product.detail_269672_th_2107298#

Spoon

Price 18 bath / 100 unit ( 18 satang per piece)

http://risuc.is.in.th/?md=product&ma=show&id=27

Film

25 cm x 500 m. . 1.59 kg

Price 70 / 1 roll , 1 roll can film 138 box (50 stang per piece)

http://www.thaitechno.net/t1/productdetails.php?id=15500&uid=35487

[i-Food] 48

http://www.thaitechno.net/t1/productdetails.php?id=15500&uid=35487

http://risuc.is.in.th/?md=product&ma=show&id=27


4.1.2 Process to produce frozen food

[i-Food] 49

Material receiving & preparation:

Prepare the ingredients as fresh meat, vegetables and more water to clean if it

is fresh through the collection by use cutter machine.

Cutting machine

[i-Food] 50

Cooking:

Bring materials to divide by recipes. And cooking with fryer machine and mix with

mix machine.

[i-Food] 51

Packaging & Labeling

Safety and Quality Checking

I.Q.F Freezer: bring the product into machine freezing (I.Q.F) at -18c

[i-Food] 52

Safety and Quality Checking: checking the product

Sealing by plastic:

Bring the product that pass machine freezing come to Sealing by plastic

[i-Food] 53

Sealing machine

Keep in cold storage at -18c to -25c

Freeze room

Machine used in production process

1. Cutter Machine use for trim material to the size desired.

2. Mix Machine use for mix material or flavor

3. The machine gives the heat such as Steamer Boiler and Fryer use for steam.

4. I.Q.F freezer machine use for fall temperature fast and harden

*** Source of machine

List of manufacturer and Agency

Manufacturers Address

Germany Engineering and Machinery Limited Mompany Samoothpakan, Thailand

Thai Stream Service and Supply Limited Company Bangkok, Thailand

Pat-Kon Limited Company Bangkok, Thailand

4.1.3 The location and building

[i-Food] 54

Location

We should location at Samutsakorn .Because Samutsakorn is one province of industry

about seafood product in Thailand. It can find integrates in low cost such as seafood in

Mahachai, labor in low cost, at price 215 bath/day. and the most important thing is reduce

cost of transportation to shop in Bangkok.

Source:

Rate of labor cost =http://www.oknation.net/blog/kritwat/2010/12/10/entry-1

Rate of transportation = http://www.dxplace.com/price/list/center/

Land

Our factory rent at bangnamjeed district Samutsakhon at 1600 square wah

[i-Food] 55

http://www.dxplace.com/price/list/center/

http://www.oknation.net/blog/kritwat/2010/12/10/entry-1

http://www.thaiselling.com/thaiselling_Postview.asp?key=83684

Landscape

Samutsakhon has the topography is coastal plain. Above the sea of about 1.00 – 2.00

meters with The chin River flows through this provinces. it good ideal to agriculture and

some of business such as industrial and residential. The lower areas of Samutsakhon is

closely the sea for 41.8 km that suitable to fishing , coastal aquaculture and salt farming. That

is our opportunity from landscape of SamutSakhon about the raw material from the sea,

because main raw material of I-food is seafood.

[i-Food] 56


http://www.samutsakhon.go.th/data/data51/21s.htm

Building

The building has area at the front 25 meters and at the side 90 meter; area of use is

250 square meters.

[i-Food] 57



[i-Food] 58


Inside the industry

[i-Food] 59

Plan of factory and facility

At the side and In front of

[i-Food] 60

[i-Food] 61

4.1.5 Facility management

From the Production Processes used to Produce i-Food’s Frozen Foods, i-Food

factory has 9 procedures following:

1. Raw Materials Receiving & Preparation

2. Cooking

3. Packaging & Labeling

4. Safety & Quality Checking

5. I.Q.F. Freezer

6. Safety & Quality Checking

7. Sealing By Plastic

8. Keep In -18ºC To 25ºC

9. Distribute To Convenient Stores

Therefore, i-Food is going to plan to allocate our factory’s sections follow the

procedure for facility in production and operation processes within our factory as well as

possible.

[i-Food] 62

4.1.6 Machine tool and Equipment

Tunnel Freezer

To reduces the temperature of food products rapidly.

This minimizes large ice crystal formation and

helps preserve food texture. Dehydration is

reduced to almost nothing which gives the

product a fresher than fresh quality

Price 220,000. /unit

http://www.maxikool.com/products02.html

Freeze room

For stock product

Size 500x 210 x 220

Price 150,000 / room

http://apache.plazathai.com/electronic/show153831/

[i-Food] 63


http://www.maxikool.com/products02.html

Anvil / griddle flat top Electronic

Dimension wxdxh(mm) 787x446x244

Weight(kg) 25

Power 3000

Capacity fire eggs 200 Pieces /Hours

Price 13,375 Bath / unit

www.tarad.in.th

Tray

For fill intregrate

Size 21.25" x 15.75" x 7".

Price 268 bath / unit

www.tarad.in.th

[i-Food] 64

http://www.tarad.in.th/


Cap

Price 214 bath

www.tarad.in.th

Sealing machine

To film product before freeze

200v/175 w

Size 470x600x100mm

lowest temperature 90c – 150c

Price 5,885

www.tarad.in.th

[i-Food] 65



Flipper used in frying

Price 60 bath

http://www.kitchenwaremarket.com/oscommerce/catalog/product_info.php?

products_id=3134

Mixer integrate machine

For mixer integrate limit 5 lite

Price 6,295 bath/unit


products_id=3238

Glove resist fire

Price 40 bath/unit

http://www.kitchenwaremarket.com/oscommerce/catalog/index.php?cPath=419_430_425

[i-Food] 66

http://www.kitchenwaremarket.com/oscommerce/catalog/index.php?cPath=419_430_425

http://www.kitchenwaremarket.com/oscommerce/catalog/product_info.php?products_id=3238




Mashed Machine

To mash intregrate

Price 890 bath/unit

http://www.kitchenwaremarket.com/

Uniform of employee

‘

Price 99

bath/unit

www.tarad

.com

[i-Food] 67

http://www.tarad.com/



Scales

electronic

Price 450

bath


Stanless bowl

Price 80 bath


products_id=2766

[i-Food] 68




Recycle bin


Pot

22x22 cm



Air conditioner / air filter

[i-Food] 69


1) HEPA - 0.0001 mm 99.9%

2) Activated Carbon - Formaldehyde, H2S, NH3

3) Carbon Fibre Filter - Formaldehyde, Benzene

4) Photo Catalyst Filte

5) Ultraviolet (UV) – kill virus 97.6%

6) Ionizer -

7) Ozone -

Intelligent-eye Air Sensor

Price 13,609 bath

www.tarad.com

Cutter vegetable , mash , mix intregrate

For many function in one machine , Cutter , mash and mix

Price 51,414

www.tarad.in.th

Rice cooking

For rice cooking 10 lite

[i-Food] 70




http://www.sripiboon.com/product.detail_0_th_789936

Summary cost of equipment and tools

No. Descript No.

Product

Price/unit Total

1 Tunnel Freezer 5 220,000 1,100,000

2 Freeze room 2 150,000 300,000

3 Anvil / griddle flat top Electronic 5 13,375 66,875

4 Tray 20 268 5,360

5 Cap 40 114 5,760

6 Sealing machine 10 5885 58,850

10 Flipper used in frying 10 60 600

11 Mixer integrate machine 10 6,295 62,950

12 Glove resist fire 40 40 1,600

13. Mashed Machine 10 890 8,900

14. Uniform of employee 40 99 3,960

15. Scales electronic 10 450 4,500

16. stainless bowl 20 80 1,600

17. Recycle bin 10 147 1,470

18. Pot 10 436 4,360

19. Air conditioner / air filter 10 13,609 136,090

20. Cutter vegetable , mash , mix integrate 1 51,414 51,414

21 Rice cooker 10 3900 39,000

Total tools and Equipment 1,853,289

[i-Food] 71

http://www.sripiboon.com/product.detail_0_th_789936

4.2 Cost of investment

4.2.1 Rent

According I-Food will be rent factory at Pharam 2 road samutsakhon with the rental

rate at 67 bath / sq.m. per year. So all of area in factory is 2250 sq.m. then the total rent cost

for one year are 67 x 2250 = 150,750 but the owner just set the cost is 150,000 bath per year.

And The Rent cost for one month is 12,500 baths. The agreement is forward rental for 1 year.

4.2.2 Total Pre operation cost

Pre-operation cost Price

Forward rental (6 months) 75,000

Permission to produce food 800

Substitute license: 50

Total pre operation 75,850

[i-Food] 72

4.2.3 Logistics Management

According to the flow above ,I-food find the raw material from many company for order

integrate in our product ,then when got raw material the next station is in our industry to produce the

product. After our product ready to sell , we will use transportation service from “Dxplace” to

transport our product to DC (Distribution center) of 7-Eleven. then it’s mission of 7-Eleven to

distribution our product to consumers in everywhere in Thailand.

Industy to Dc of 7-Eleven

I-Food use transportation service of “Dxplace” .The price for transportation from SamutsaKhon to Dc

7-Eleven in Bangkok by Teller truck is 4,769 bath per lot. We deliver to distribution centre of 7-11

every 3 days. So, in one month i-food will deliver to DC 7-11 around 10 times. Estimate cost 4,769 x

10 = 47,690 BTH per month

[i-Food] 73

http://www.dxplace.com/price/list

Distribution Center of 7-Eleven

We choose 7-Eleven to distribute our product. Because the power of 7-Eleven to distribution product

is the front rank in Thailand. The Form of delivery is point to point. And type of delivery at many

point on a route. 7-Eleven has standard transportation trucks more than 700 vehicles per day cover the

delivery more than 4,000 point everyday ,including the amount of transportation and distribution more

than 65 million units per year. The most important about 7-Eleven is Distribution center (DC) for

distribution all product to all franchise of 7-Eleven in Thailand.The main DC of 7-eleven that have 4

main Dc , Lamphang DC to distribution cover the north region of Thailand. Khonkaen Dc to

distribution cover the northeast of Thailand. And Bangkok Dc (1500 sq. m.) distribution in Bangkok

and South of Thailand. Not only 3 Dc but 7-Eleven has plan to build more in the future. Therefore our

company select 7-Eleven to distribution our product to consumers.

[i-Food] 74

http://www.dxplace.com/price/list

http://www.7eleven.co.th/corp/about_business_structure_dynamic_management.php

http://www.logisticsthaiclub.com/index.php?mo=3&art=531580

http://www.logisticsdigest.com/index.php?option=com_content&task=view&id=1900

The Agreement with 7-Eleven and cost

Trading Opportunity with C.P. 7-Eleven

7-Eleven is committed to satisfying customer’s need with quality products and services

through our network all over Thailand. They have been continuously developing and selecting new

products and services to better serve our customers. Therefore, to working with manufacturers and/or

suppliers that sharpen their competitive edge by helping they better meet our customer’s expectation.

If who are manufacturer and/or supplier with intent, qualifications, capability and confidence in their

products, 7-Eleven are looking forward to welcoming they to be one of 7-eleven’s partners. If who

are interested in providing their products and services to 7-eleven,though internet, by fill all details

and information in 7-eleven website form.7-Eleven will consider and contact back as soon.

[i-Food] 75




After 7-Eleven contact back to sign contact Agreement in partner with 7-Eleven. This

agreement has expense, the first is 400,000 bath for one type of product and the last is 35% of price in

product that sale in 7-eleven.

Total cost of agreement with 7-Eleven is 800,000 (2 product +35% of sale)

*(I-Food can’t find information to show about cost of 7-Eleven in payment cost in carrying product to

7-eleven because it’s secret in business but member in I-Food group have parent ,who working with

company that contact with 7-Eleven can tell about true cost of agreement and sure.)

http://www.7eleven.co.th/corp/partner.php

Form of register partner with 7-Eleven

https://webmail.7eleven.co.th//database/work_flow_supplier.nsf/RequestFrom_NoteTh?

OpenForm

Summary logistic cost

Transportation = 47,690 per month

Agreement with 7-Eleven = 800,000 for 2 product and 35% of sales.

[i-Food] 76

https://webmail.7eleven.co.th//database/work_flow_supplier.nsf/RequestFrom_NoteTh?OpenForm

https://webmail.7eleven.co.th//database/work_flow_supplier.nsf/RequestFrom_NoteTh?OpenForm


4.3 Investment cost

Equipment 1,853,289

Decoration 300,000

Total 2,153,289

4.3.1 Approval for establish factory

Places to apply for permission.

1. Food Control Division Food and Drug Administration

2. Consumer Protection Group Provincial Health Bureau

Document to use apply for permission

1. Application as a factory, A.1 1 issue (from Food and Drug Administration or

Provincial Health Bureau )

2. Photo census of entrepreneur 1 issue

3. Photo business registration or Commercial Registration 1 issue

4. Certificate of Company Registration 1 issue

5. Certificate of nationality of the entity from the Ministry of Commerce (List of

shareholders) 1 issue

6. Letter that is assigned to operation of the entity 1 issue. Tax stamp 30 BTH

7. Map drawing the correct scale.

Map showing the location of the factory.

Map showing the building in the factory.

Fee

[i-Food] 77

- Application fee at 5 Baht Bangkok made request 2 issue, 3 copies of a provincial

request.

- Fee for permit pay as follow people and/or machinery used in the factory(100 BTH to

20,000 BTH)

- Substitute license: 50 Baht

Approval form

[i-Food] 78

4.3.2 Depreciation

[i-Food] 79

4.4 Operating cost

4.4.1 Raw material cost

Production cost

No. Descript No.

Product

Price/Kg. Total

1 Squid 167 kg 120 20,040

2 Basil 34 kg 15 510

3 Red pepper 20 kg 60 1,200

4 Garlic 34 kg 165 5,610

5 Onion 304 30 9,120

6 Soya sauce 14 184 per 6 liter 2,576

7 Granulated sugar 34 29 986

8 Oil 2 720 per 13.75 liter 1,440

9 Bean 119 20 2,380

10 Rice 10 1650/sack 16,500

11 Shrimp 209 150 31,350

12 Carrot 67 25 1,675

13 Oyster 63 150/3 liter 9,450

14 Egg 112 82.5/Panel 9,240

15 Film 1500 70 105,000

16 Food box (Already screen logo) 700 600 420,000

17 Spoon 700 18 12,600

Total raw material cost 649,677

4.4.2 Overhead

Medium-sized business.

For the use of electricity for industrial business government that is similar to an industrial

enterprise as well as related areas. Which demand an average of 15 minutes maximum from

30 kW but less than 1,000 kW and average power consumption 3 months up to 250,000 units

[i-Food] 80

per month. Set up only electric meter.

The normal rate.

(Time of Use Rate: TOU).

[i-Food] 81

Minimum: the lowest electricity costs cannot be less than 70 percent of the peak demand during the past 12 months that ended in the current month.

http://www.eppo.go.th/power/pw-Rate-PEA.html#4

WATER RATES

[i-Food] 82

http://www.eppo.go.th/power/pw-Rate-PEA.html#4

Level of water used Cum./mont

h

USER TYPES

Connection Official and Small Business

State Enterprise, Industrial and large

Business

baht/cum.

satang/liter

baht/cum.

satang/liter

baht/cum.

satang/liter

Low Level Rate 50 Baht



0 - 10 10.20 1.020 11.45 1.145 12.50 1.250

11 - 20 10.95 1.095 14.20 1.420 15.50 1.550

21 - 30 13.20 1.320 15.45 1.545 18.50 1.850

31 - 50 15.20 1.520 16.45 1.645 21.50 2.150

51 - 80 16.45 1.645 16.85 1.685 23.50 2.350

81 - 100 16.95 1.695 16.95 1.695 23.75 2.375

101 - 300 - - 17.05 1.705 24.00 2.400

301 - 1,000 - - 17.15 1.715 24.25 2.425

1,001 - 2,000

- - 17.25 1.725 24.00 2.400

2001 - 3,000 - - 17.35 1.735 23.75 2.375

>3,000 - - 17.45 1.745 23.50 2.350

http://www.pwa.co.th/service/tariff_rate.html

[i-Food] 83

4.5 Management Analysis

4.5.1 Administration Cost

o Employee salary

Wage rate for our organization

1. Executives manager 1 person (1x 50,000) 50,000 BTH

Secretary Executives manager 1 person (1x 20,000) 20,000 BTH

2. Employee in organization

- Accounting department

o Manager of accounting 1 person(1x 15,000) 15,000 BTH

o Accounting officer 3 person(3x 12,000) 36,000 BTH

- Financial department

o Manager of Financial 1 person(1x 15,000) 15,000 BTH

o Financial officer 3 person(3x 12,000) 36,000 BTH

- Sales and Marketing department

o Manager of Sales and Marketing 1 person(1x 15,000) 15,000 BTH

[i-Food] 84

o Sales and Marketing officer 2 person(2x 12,000) 24,000 BTH

- HRM department

o Manager of HRM 1 person(1x 15,000) 15,000 BTH

o HRM officer 2 person(2x 12,000) 24,000 BTH

- Purchasing department 2 person(2x 12,000) 24,000 BTH

o Check store 2 person (2x 12,000) 24,000 BTH

- Worker 40 person(40x 7,500) 300,000 BTH

Total salary per month 598,000 BTH

Office equipment

No. Descript No.

Product

Price/unit Total

1

Pen

50 3 150

2

Highlight Pen

25 19 475

3

Liquid

50 18 900

[i-Food] 85

4

Glue

25 14 350

5

Scotch tape

20 139 2780

6

paper

10 545 5450

7

Sticky notes

20 15 300

[i-Food] 86

8

File Document

50 70 3500

9

Jacket

30 10 300

10

Document box

10 85 850

11

calculator

10 170 1700

[i-Food] 87

12

Plain Paper Fax Canon JX210P

3 3690 11070

13

Phone

10 279 2790

14

Document destruction equipment GBC

Alpha Ribbon

1 1300 1300

15

Table

20 499 9980

[i-Food] 88

16

Chair

20 299 5980

17

Stapler

25 39 975

18

Staples

10 6.50 65

19

Scissors

10 22 220

20

Cutter

10 22 220

[i-Food] 89

21

Time Recorder

1 7990 7990

22

Time Stamp Card

1 pack 99 99

23

Clock

5 250 125

24

Bin

10 50 500

25 5 19,900 99500

[i-Food] 90

Air Condition

26

Plug

10 180 1800

27

Printers

3 3100 9300

[i-Food] 91

http://www.google.co.th/imgres?q=%E0%B9%81%E0%B8%AD%E0%B8%A3%E0%B9%8C%E0%B9%84%E0%B8%94%E0%B8%81%E0%B8%B4%E0%B9%89%E0%B8%99&hl=th&biw=1276&bih=625&gbv=2&tbs=isch:1&tbnid=jGoTxK-HBxA2OM:&imgrefurl=http://www.prakard.com/default.aspx?g=posts&m=1736934&imgurl=http://img535.imageshack.us/img535/912/daikincg.gif&ei=-BZNTYPQM4zUvQPcjbUE&zoom=1&w=500&h=309&iact=hc&vpx=123&vpy=206&dur=929&hovh=176&hovw=286&tx=173&ty=91&oei=6BZNTYyzHobtrQeX1pjaBg&esq=4&page=3&tbnh=123&tbnw=199&start=36&ndsp=18&ved=1t:429,r:0,s:36

http://www.google.co.th/imgres?q=%E0%B9%81%E0%B8%AD%E0%B8%A3%E0%B9%8C%E0%B9%84%E0%B8%94%E0%B8%81%E0%B8%B4%E0%B9%89%E0%B8%99&hl=th&biw=1276&bih=625&gbv=2&tbs=isch:1&tbnid=jGoTxK-HBxA2OM:&imgrefurl=http://www.prakard.com/default.aspx?g=posts&m=1736934&imgurl=http://img535.imageshack.us/img535/912/daikincg.gif&ei=-BZNTYPQM4zUvQPcjbUE&zoom=1&w=500&h=309&iact=hc&vpx=123&vpy=206&dur=929&hovh=176&hovw=286&tx=173&ty=91&oei=6BZNTYyzHobtrQeX1pjaBg&esq=4&page=3&tbnh=123&tbnw=199&start=36&ndsp=18&ved=1t:429,r:0,s:36

28

Computer

20 15900 318000

29

Router

1 2,299 2,299

30

Lan

100 m 5/m 500

31

Conference table

1 15000 15000

[i-Food] 92

32

Executives table

1 9900 9900

33

http://infinity_office.tarad.com/product.detail_634629_th_306513

Total of Office equipment is 505,798 BTH

4.6 The summary of cost

Asset

Pre-operating cost

Forward rental (6 months) 75000

Permission to produce food 800

Substitute license: 50

Total pre operation 75850

Investment cost

Equipment and tools 1853289

[i-Food] 93


Decoration 300000

Total investment cost 2153289

Production cost 649677

Registation with 7-11 800000

Total asset 5907955

Liability and capital

Liability

Loan from K-bank 1,200,000

Working capital 2,000,000

Total liability and capital 3,200,000

Net require 9,107,955

[i-Food] 94

CHAPTER 5: FINANCAIL MANAGEMENT

5.1 Profit and loss statement

[i-Food] 95

[i-Food] 96

[i-Food] 97

[i-Food] 98

[i-Food] 99

[i-Food] 100

5.2 Cash flow statement

[i-Food] 101

[i-Food] 102

[i-Food] 103

[i-Food] 104

[i-Food] 105

5.3 Balance sheet

Balance sheet for year 1

Asset

Cash and current capital 19,023,517

Inventory 8740

Other working asset 0

Total working asset 19,032,257


Total asset 20,885,546

Liability

Loan from K-bank 960,000

Total liability 960,000

Equity

working capital 3,000,000

Other captital 25,833,501

Expense -5907955

Total equity 19,925,546

Total liability and equity 20,885,546

[i-Food] 106


Asset


Inventory 8740





Liability



Equity



Expense -5907955



[i-Food] 107


Asset


Inventory 8740





Liability



Equity



Expense -5907955



[i-Food] 108


Asset


Inventory 8740





Liability



Equity



Expense -5907955



[i-Food] 109


Asset


Inventory 8740





Liability

Loan from K-bank 0

Total liability 0

Equity



Expense -5907955



[i-Food] 110

Financial Analysis

[i-Food] 111

NPV 6.37%

Start up -9,107,955

Year 1 19,023,517

Year 2 20,377,994

Year 3 21,676,270

Year 4 22,902,036

Year 5 24,036,825

NPV = ฿75,527,153

IRR

Start up -9,107,955

Year 1 19,023,517

Year 2 20,377,994

Year 3 21,676,270

Year 4 22,902,036

Year 5 24,036,825

IRR = 215%

Payback period

= 5.75 months

Break- even point = 1,160,249 unit

CHAPTER 6: RISK MANAGEMENT

6.1 Risks AnalysisRisks refer to opportunities of problems that are expected to occur in the future. Lack

of operation, production, planning, and every other activities can separated into two types of

[i-Food] 112

risk: First; the risk that called External Risk that occurs outside company those cannot be

predicted or controlled, but it may be avoided and eliminated. Second; the risk that called

Internal Risk that occurs within company those can be controlled, avoided, and eliminated.

6.1.1 External Risks

Risks caused by external factors those i-Food cannot be predicted and controlled, but

it may be avoided and eliminated; so we have to plan for protect the risks those may occur

from external factors that i-Food will confront in the future; technological change, consumers

need, economic condition, competitive condition, suppliers, and delivery:

6.1.1.1. Technological Change

Nowadays, technology is rapidly changing that is a risk impact to i-Food in product

development, packaging, labeling, and distribution. So the changing in technology can be

whether advantages and disadvantages.

Risk management in this problem; i-Food always needs to follow the news or update

for finding the information about development or changing of the technology and apply the

information or knowledge to adapt and develop techniques for satisfy the consumers’ need.

Therefore, we are going to always check products’ quality for good nutrition to consumers or

purchasing new machines or equipments for good production processes.


6.1.1.2. Consumers’ Need

The need of consumers to purchase our products can differently change such as the

trend of consumers need changes by generation which there are different attitudes, lifestyle,

and need of frozen food nowadays. Moreover there are a lot of competitors’ products those

are choices for consumers to choose. In this problem is direct risk to i-Food’s products that

may affect to sales and revenues of i-Food.

From the reasons above; it is the risk that affects i-Food and to change the consumers

purchasing behavior, i-Food has to manage the risk about consumers’ decision making. So, i-

Food will use the marketing strategy that is focus on consumers intimacy by enough

informing until attract the consumers’ need, after that satisfy them to make them be our

loyalty.

[i-Food] 113

6.1.1.3. Economic Condition

Economic conditions are a big problem in Thailand and on all investment. It affects

purchasing of consumers that has decreased significantly. Investment in private is lower than

all over investment in country and foreign country, public spending that reduced because of

lower revenues. So people must more carefully in spending, its make the purchase are

decrease (Eureka, 2008). This problem can be risk that affect to decrease sales and revenues

of i-Food.

From the reasons above; i-Food must manage this risk by setting the strategies and

advertising those appropriate to promote to increase sales and revenues with prices and

qualities. Moreover, i-Food is going to serve variety products for respond to all level of

consumers’ need whose have several levels - low, middle, and high levels for making

decision to buy. In recessive economic period; it will satisfy consumers and increase sales

when variety products, and prices the consumer can have more choices which can satisfy

consumers and attract a lot of consumers. These strengths can lead i-Food to the market

easier; so, i-Food can expand market for increase the consumers, market share, and can make

higher profit as well.

6.1.1.4. Competitive Condition

Nowadays, frozen food is being interested from all levels of consumers; so, there is

many investors interested to run this business because of this business will be popular in the

future; of cause, in this business have high competition that makes more growth market and

there is variety of products that consumers can make decision for choosing to buy. So, there

is cut pricing between competitions which affects to our market share. In this reason, it is risk

that can affect to i-Food that can reduce sales and revenues of i-Food.

From above reasons; i-Food has to determine good strategies for competing with

competitors in the market by looking for opportunity to build differentiation for the products,

prices, places, and promotions for increasing quality of products for consumers efficiently.

When there are varieties of products which the consumers have more choices for making

decision to buy; it can satisfy consumers and more attracts consumers. If i-Food has strength

which others competitors cannot fight, so i-Food can expand the market then can increase our

consumers and market share until be leader in this market.


[i-Food] 114

http://www.marketingoops.com/reports/behaviors/%E0%B8%AD

%E0%B8%B2%E0%B8%AB

%E0%B8%B2%E0%B8%A3%E0%B9%81%E0%B8%8A

%E0%B9%88%E0%B9%80%E0%B8%A2%E0%B9%87%E0%B8%99-

%E0%B9%81%E0%B8%8A

%E0%B9%88%E0%B9%81%E0%B8%82%E0%B9%87%E0%B8%87-

%E0%B8%A7%E0%B8%B4%E0%B8%96/

6.1.1.5. Suppliers

i-Food has many suppliers; It is possible to have problem from them such as lack of

products or raw materials. If they cannot produce for our ordering, it can be effect with our

products. Therefore, the best way to manage risk is, we will forecast sales when close to

festival and order it before festival that can prevent the problem of lack of suppliers which we

will not rush the supplier to produces for prevent wrong or error products.

6.1.1.6. Delivery

Delivery is one of important activity that is going to distribute to market (7-11

Convenient Store Center) to distribute and sell to the consumers around Bangkok. Time

management is very important for sending i-Food’s products to 7-11 on time; if i-Food

cannot do that it may be negative effect to the company because of nobody do not like to wait

for someone especially 7-11 has a lot of partners in doing their business. So i-Food has to

have good time management for delivery on time and has right quantity of products.

6.1.2 Internal Risks

Risks caused by internal factors those i-Food can expect and control, so we have to

plan for protect the risks that may occur from internal factors that i-Food will confront in the

future; administration, human resources management, production management, and financial

risk:

[i-Food] 115

6.1.2.1. Administration

Wrong management process or wrong decision that can be causes of i-Food to get loss

or any problems in the company. This may affect the cost and revenue earnings to the

company which is delicate and complex. I-Food is going to solve these problems by training

and developing our employees, controls the manufacturing and operating processes, and

separate responsibilities of employees to effectively working.

6.1.2.2. Human Resources Management

The successful of many businesses are depends on its professional employers and

employees. The availability of qualified workers is an important factor for the growth and

profitability of the business, and if the company has low attention in recruiting employers and

employees, the company will has low quality both of products and services; company may

loss of sales and benefits. So, i-Food will attend about recruitment and send them to training

before start working and motivate them to good working and make consumers satisfaction by

give bonus or holiday for who best working for the company.

6.1.2.3. Production Management

Production is more important one within company this department has to have good

processes and good quality checking that good for nutrition and health of consumers, but

sometimes this department will have the risk about delay of suppliers in raw materials

delivery that does not on time. i-Food is going to produce the products 7,000 units per day

that more than the need of market per day.

6.1.2.4. Financial Risk

Financial management is very important that needs to have good management with

circumspection because of the financial risk can affect the operations and production

processes of i-Food.

[i-Food] 116

6.1.2.6. Financial Risk

Financial management is varying important. It needs to be managing with

circumspection, because the financial risk can affect the operations of our business.

If sale decrease 5%

Year 2010 Net income is 25,027,934 BTH





If sale decrease 10%






If sale decrease 15%






Interest increase by 5%,





[i-Food] 117














Cost/Expense increase by 5%,

















[i-Food] 118


6.2 Conclusion of Risk ManagementRisks refer to opportunities of problems that are expected to occur in the future. Lack

of operation, production, planning, and every other activities can separated into two types of

risk; First, the risk that called External Risk that occurs outside company those cannot be

predicted or controlled, but it may be avoided and eliminated; Risks caused by external

factors those i-Food cannot be predicted and controlled, but it may be avoided and

eliminated; so we have to plan for protect the risks those may occur from external factors that

i-Food will confront in the future; technological change, consumers need, economic

condition, competitive condition, suppliers, and delivery. Second, the risk that called Internal

Risk that occurs within company those can be controlled, avoided, and eliminated; Risks

caused by internal factors those i-Food can expect and control, so we have to plan for protect

the risks that may occur from internal factors that i-Food will confront in the future;

administration, human resources management, production management, and financial risk.

However, i-Food hoped that all of risks those we have told will not incur with us now and

forever or incur at least.

CHAPTER 7: CONCLUSION

Nowadays the market share about frozen food in Thailand, Frozen food business is one of the

business that many consumer need because Nowadays people have hurry life and limited

time. They need to find something that can replace the nutrition needs of their. Therefore,

[i-Food] 119

frozen food is main choice that customer needs it. We selected raw material quality. So our

customers can enjoy frozen food using a variety of raw materials and natural.

From the statistic, that show about population that will be target group in frozen food market.

The number of target group is 10,029,779; our company estimate we will get market share

about only 5% for this target group. Our product capacity is we can produce the product for

10,000 unit / day. So after we desire to get market share for 5% , for one day we must

produce the product for 6,600 unit per day ,but we produce only 70% of product capacity ,it’s

7,000 unit per day for reserve ,if have risk about production.

About financial of i-Food Company; we start up business with 9.1 million. From the Income

statement in the first year we have net income for 32 million and at the last year for 37

million. Internal rate of return of our company is 215%; Net present value in the last year is

75 million and Payback period is about 5.75 months!

From risk management; we have planned about avoiding or reducing all of the risks that can

incur internal risk and external risk our company including technological change, consumers

need, economic condition, competitive condition, suppliers, delivery, administration, human

resources management, production management, and financial risk.

Finally ,If some investor want to join with our company,we hope I-food is best brand of

frozen food to provide comfort and satisfaction to all customers and gain more profit to

investor with the best service possible.

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APENDIX

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i-Food Co.,Ltd.

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