project feasibilty study and evaluation . aj. chaiyawat thongintr. mae fah luang university (mfu)...

I

MEMBER

1. Mr. SRIRAMET BOONTHANAROM

ID:4931203098

2. Mr. WIWAT TANGPRASOPCHOT

ID:4931203101

3. Miss SIRILUCK WONGMEEBOON

ID:4931203108

4. Mr. SIWAT TANTALELAR

ID:4931203110

5. Mr. JIRAYU BUTHKHUNTHONG

ID:4931203174

Business Administration

Mae Fah Luang University

II

Preface

Zdravo siam are the project feasibility study in the term to study the feasibility

in opening up an ice cream business at ABAC Plaza. Which ice cream can be seen as

cold and sweet but the way in studying the feasibility of this Zdravo Siam project are

not as sweet as the project name. It is expected that the studying on this project

feasibility study will help any people who wanted to start ice cream business to read

and be a part of the inspiration of the reader.

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Excutive summary

This consists of a feasibility study of an ice cream shop opening up as the ice

cream market in Thailand nowadays, ice-cream business still one of the business that

many people also interested to go for. The origins of ice cream can be traced back to

at least the 4th century B.C. Early references include the Roman emperor Nero (A.D.

37-68) who ordered ice to be brought from the mountains and combined with fruit

toppings, and King Tang (A.D. 618-97) of Shang, China who had a method of

creating ice and milk concoctions. Ice cream was likely brought from China back to

Europe. Over time, recipes for ices, sherbets, and milk ices evolved and served in the

fashionable Italian and French royal courts. Ice cream was imported to Thailand in

Phra Chulachom Klao Chaoyuhua or King Rama V era

Project Objective are to analyze The feasibility of an ice cream industry and to

provide the project feasibility study Thai people is consumption rate are at 6.0 liter

per year. The consumption rates are rising by 5.0% per year. When compare the

consumption rate of ice cream of Thai people to neighbor’s rate. Thailand ice cream

consumption rate are the lowest when compare with Malaysia which the ice cream

consumption rate is 3 liter per year or Japan which is 7 liter per year and still very low

when comparing to other country which are in Europe area the highest rate of ice

cream consumption is USA which reach to 24 liter for person per year and Australia

consumption rate is 18 liter for person per year.

So this are the interested point to show that there are an opportunity to built a

profit from ice cream in this report it will illustrate about what strategy that been use

how ice cream are made what is the marketing mix including the 3C analysis. Thus, it

also tell about the financial analysis and shown every financial statement in monthly

base. And in also provide the risk management that will tell how to deal with the

problem for the certainty risk and uncertainty risk.

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IV

Table of content Chapter1 ......................................................................................................................... 2

1.1 Background and Significance of the Project ........................................................ 2

1.2 Project Objective .................................................................................................. 3

1.3 Benefits of Project................................................................................................ 3

1.4 Grant Chart........................................................................................................... 4

Chapter 2 ........................................................................................................................ 6

2.1 Nature of Industry ................................................................................................ 6

2.1.1 Frozen custard, French ice cream or French custard ice cream .................... 6

2.1.2 Low fat ice cream.......................................................................................... 6

2.1.3 Non fat ice cream .......................................................................................... 6

2.1.4 Gelato ............................................................................................................ 7

2.1.5 Bulky flavored ice cream .............................................................................. 7

2.1.6 Soft serve ...................................................................................................... 7

2.1.7 Fruit Sherbet.................................................................................................. 7

2.1.8 Sorbet ............................................................................................................ 7

2.1.9 Frozen yogurt ................................................................................................ 8

2.1.10 Granite......................................................................................................... 8

2.1.11 Water ice or ice ........................................................................................... 8

2.2 Situation of Industry ............................................................................................ 9

2.3 Product/Service (in General).............................................................................. 10

2.3.1 Ice Cream .................................................................................................... 10

2.4 Vision of your Organization .............................................................................. 11

2.5 Mission ............................................................................................................... 11

2.6 Strategy .............................................................................................................. 11

2.6.1 Corporate Level .......................................................................................... 11

2.6.2 Business Level ............................................................................................ 12

2.6.3 Functional Level ......................................................................................... 13

Chapter3 ....................................................................................................................... 16

3.1 Market Analysis ................................................................................................. 16

3.1.1 General Environment Analysis ................................................................... 16

3.1.2 Competition Analysis (3C Analysis) .......................................................... 17

3.2 STP Analysis ...................................................................................................... 20

3.2.1 Segment....................................................................................................... 20

3.2.2 Targeting ..................................................................................................... 20

3.2.3 Positioning .................................................................................................. 20

3.3 Marketing Mix Strategy ..................................................................................... 21

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3.3.1 Product ........................................................................................................ 21

3.3.2 Price ............................................................................................................ 22

3.3.3 Place ............................................................................................................ 22

3.3.4 Promotion .................................................................................................... 22

3.4Five force model ................................................................................................. 22

3.5 Sales Forecast/Profit Estimation ........................................................................ 25

3.5.1 Time Series Analysis .................................................................................. 26

3.6 Sale Forecast ...................................................................................................... 27

3.7 Conclusion ......................................................................................................... 31

Chapter 4 ...................................................................................................................... 33

4.1 Production and Operations Analysis .................................................................. 33

4.1.1 Product Characteristics ............................................................................... 33

4.1.2Production process ....................................................................................... 34

4.1.3 Life Time .................................................................................................... 42

4.1.4 Ice cream recipe .......................................................................................... 45

4.1.5 Location ...................................................................................................... 51

4.1.6 Facility layout ............................................................................................. 53

4.1.7 Machine Tools and Equipment ................................................................... 58

4.1.8 Facility Management .................................................................................. 65

4.2 Cost of Investment ............................................................................................. 66

4.2.1 Rent ............................................................................................................. 66

4.2.2 Total Pre operation cost .............................................................................. 66

4.3 Investment Cost ................................................................................................. 66

4.3.1 Register’s Price. .......................................................................................... 67

4.3.2 A Fee for establishes a business [Co., ltd.] ................................................. 67

4.3.3 Depreciation ................................................................................................ 71

4.4 Operating Cost ................................................................................................... 72

4.4.1 Raw material Cost ....................................................................................... 72

4.4.2Overhead ...................................................................................................... 78

4.5 Management Analysis ........................................................................................ 78

4.5.1 Administration Cost .................................................................................... 78

4.6 Conclusion ......................................................................................................... 78

Chapter 5 ...................................................................................................................... 81

5.1 Profit and loss statement .................................................................................... 81

5.2Cash flow statement ............................................................................................ 86

5.3 Balance sheet ..................................................................................................... 91

Chapter 6 .................................................................................................................... 101

VI

6.1. Risk analysis of projects ................................................................................. 101

6.1.1. Certainty Risk .......................................................................................... 101

6.1.2. Uncertainty Risk ...................................................................................... 101

6.1.3. Economic Condition ................................................................................... 102

6.1.4. Risks from natural disasters ....................................................................... 103

6.2 Risk management summary ............................................................................. 113

Chapter 7 .................................................................................................................... 115

Reference ................................................................................................................... 122

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Chapter 1

Introduction

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Chapter1

1.1 Background and Significance of the Project

People love to eat ice-cream, as same as we are. The origins of ice cream can

be traced back to at least the 4th century B.C. Early references include the Roman

emperor Nero (A.D. 37-68) who ordered ice to be brought from the mountains and

combined with fruit toppings, and King Tang (A.D. 618-97) of Shang, China who had

a method of creating ice and milk concoctions. Ice cream was likely brought from

China back to Europe. Over time, recipes for ices, sherbets, and milk ices evolved and

served in the fashionable Italian and French royal courts. Ice cream was imported to

Thailand in Phra Chulachom Klao Chaoyuhua or King Rama V era Thus; we plan to

make our own ice-cream shop under a name of “The Zdravo Siam”.

“Zdravo” is a word from Slovenian, which mean “Hello” in English. Every

day we meet other, we have to greet each other. As same as our ice-cream shop, when

every customer comes inside, “Zdravo” is a first word that they will hear from any

people who works in a shop.

One of a customer group who loves to eat ice-cream is a group of university

students. The Zdravo will be place in ABAC University bangna campus area which is

ABAC Plaza. The reason we choose this place is we have already make a discussion

from famous university in Bangkok, We decide that this university is a place where

people interest to use a brand name and always seek new things ,Which means we can

take more opportunity for open our brand.

As main products, it is ready to serve customers ice-cream and cake. The

Zdravo Siam proudly presents a variety of ice-cream, which home made by ice-cream

maker. Especially, an ice-cream that make from fruits in Thailand, a shop also has a

secret formula, which can win all of customer’s heart who love their health.

Customers can enjoy The Zdravo Siam with many type of home-made bakery; butter

cake, brownies etc.

All of foods and drinks are stand on a good reasonable price, which everybody

can pay for them. For our ice-cream shop’s style, The Zdravo Siam is put on a

concept of a modern and old-fashioned, which will mix together for the smoothness.

Black & White is main color of a shop’s theme. We designed to use any antiques for

decoration. The Zdravo Siam will serve customers a thousand of songs; Wi-Fi high

speed internet is available anytime.

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1.2 Project Objective

To analyze The feasibility of an ice cream industry

To provide the project feasibility

1.3 Benefits of Project

Knowing feasibility of the project – Researchers study and analyze with real

situation.

Knowing the situation and the trends of ice cream industry, understanding

behavior of customer, and be able to select and identify the right customer.

To be able to calculate profits and expenses, and find the way to get maximize

profits.

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1.4 Grant Chart

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Chapter 2

Industry Profile

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Chapter 2

2.1 Nature of Industry

Ice cream or ice-cream is a frozen dessert usually made from dairy products,

such as milk and cream, and often combined with fruits or other ingredients and flavors.

Most varieties contain sugar, although some are made with other sweeteners. In some

cases, artificial flavorings and colorings are used in addition to (or in replacement of)

the natural ingredients. This mixture is stirred slowly while cooling to prevent large ice

crystals from forming; the result is a smoothly textured ice cream.

There is no evidence of proofing how did ice cream came in to Thailand but it

might be came in to Thailand after Thailand can produce ice in the age of King

RAMAV the first ice cream that Thai people get usual with it is “Waan Yen” that made

from fruit juice and blend it to freezing point. After that POP Co., LTD, the first

manufacture of ice cream in Thailand, and it is called “PED Ice-Cream” started to use

the milk recipe. Thai people started to adapt the foreign ice cream to become the Thai

recipe ice cream and called coconut Ice cream. By using coconut cream combined with

sugar and spin it till harden. The coconut ice creams are eaten with sticky rice or sugar

palm or some people eat with bread. The homemade ice cream maker are now having

more competitive in the market by using their own brand name which consists of the

new flavor the new taste or a new kind of ice cream which gain the market share of 10%

in the market of premium ice cream which the key to success factor of ice cream

premium is to build the differentiation in the market and to be accepted from customer.

Ice cream can be divined in to 11 types

2.1.1 Frozen custard, French ice cream or French custard ice cream

The mainly ingredient of this ice cream type is yolk and have to use more than 1.4% of

yolk when you eat this kind of ice cream you will felt the smell of yolk

2.1.2 Low fat ice cream

There have to be cholesterol not more that 3g to 4 oz of ice cream

2.1.3 Non fat ice cream

There have to be cholesterol not more than 0.5 g per unit of serving

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2.1.4 Gelato

Gelato, or the plural gelati, is Italy's regional variant of ice cream. As such, gelato is

made with some of the same ingredients as most other frozen dairy desserts. Milk,

cream, various sugars, flavoring including fruit nut purees and air are the main

ingredients. Gelato, or the plural gelati, is Italy's regional variant of ice cream. As such,

gelato is made with some of the same ingredients as most other frozen dairy desserts.

Milk, cream, various sugars, flavoring including fruit nut purees and air are the main

ingredients.

2.1.5 Bulky flavored ice cream

Bulky Ice-Cream is an ice-cream with any ingredients in maximum, such as fruits,

peanuts or cocoa. Some may have ingredient more than 1.4 of a hundred percent of ice-

cream.

2.1.6 Soft serve

Soft serve is generally lower in milk-fat (3% to 6%) than ice cream (10% to 18%) and is

produced at a temperature of about −4 °C compared to ice cream, which is stored at −15

°C. A warmer temperature allows the taste buds to detect more flavors. Soft serve

contains air introduced at the time of freezing. The air content, called overrun, can vary

from 0% to up to 60% of the total volume of finished product. The amount of air alters

the taste of the finished product. Product with low quantities of air has a heavy, icy taste

and appears more yellow. Product with higher air content tastes creamier, smoother and

lighter and appears whiter. The optimum quantity of air is determined by the other

ingredients and individual taste. It is generally accepted that the ideal air content should

be between 33% and 45% of volume. More than this and the product loses taste, tends

to shrink as it loses air and melts more quickly than that with less air.

2.1.7 Fruit Sherbet

a frozen fruit-flavored mixture, similar to an ice, but with milk, egg white, or gelatin

added.

2.1.8 Sorbet

Sorbet is a frozen dessert made from sweetened water flavored with iced fruit (typically

juice or puree), chocolate, wine, and/or liqueur. The sorbet originated as the Middle

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Eastern drink charbet, made of sweetened fruit juice and water. Sorbet is sometimes

served between courses as a way to cleanse the palate before the main course.

2.1.9 Frozen yogurt

Also known as frozen yoghurt, froyo or frogurt is a frozen dessert made from, or

containing yogurt or other dairy products. It is slightly tarter than ice cream, as well as

lower in fat (due to the use of milk instead of cream). It differs from ice milk (more

recently termed low-fat or light ice cream), which does not include yogurt as an

ingredient.

2.1.10 Granite

Granite is a rough ice-cream like transparent ice, but, it is a sweetener or fruit juice

and bring it to freeze until it get to freezing point and slice it and mix it as and ice cube.

2.1.11 Water ice or ice

Ice or “Slow Train”, is made from juice that mix together with gelatin and freeze in low

temperat

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2.2 Situation of Industry

The ice cream industry in Thailand has a stable growth rate in 2009 according to

the research of Kasikorn research center and uniliver company state that the

consumption of ice-cream per one Thai people is 6.0 liter per year. The consumption

rates are rising by 5.0% per year. When compare the consumption rate of ice cream of

Thai people to neighbor’s rate. Thailand ice cream consumption rate are the lowest

when compare with Malaysia which the ice cream consumption rate is 3 liter per year or

Japan which is 7 liter per year and still very low when comparing to other country

which are in Europe area the highest rate of ice cream consumption is USA which reach

to 24 liter for person per year and Australia consumption rate is 18 liter for person per

year (figure.1). Thailand ice cream industry have a lot’s of space to invest and gain

profit and in year 2009 the ice cream market industry is worth 18000 million bath or

when compare with the pass year the ice cream industry in Thailand growth 5% every

year .

Figure1.1: Ice cream consumption rate per person per liter

Ice-cream industry are now interest by the international firm which focused to

entered Thailand ice cream industry because now a days the ice cream industry have a

value of 18000million bath which split in to 3 kind the first one is Upper level have a

value of 3000 million bath and have a growth rate higher than 10% The second one is

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mass level has a value of 7,000 million bath also have a growth rate between 3-5% the

last one is The lower level has a value of 1,000 million baht the ice cream industry in

Thailand is the most interest industry of the international ice cream manufacture which

occur the flow of premium ice cream into Thailand within several year(figure.2) and it

also expand the Thailand ice cream industry .

Figure1.2: import and export of Thai’s ice cream value

2.3 Product/Service (in General)

2.3.1 Ice Cream

Zdravo siam product are basely sale of an scoops of ice cream which are

guarantee of a high quality of product that come from the fresh material, and Zdravo

siam ice cream will match the need to the trend of the food industry for now.

IMPORT AND EXPORT OF THAI’s ICE-CREAM VALUE

Quantity: ton / value: million

Year Import Export

Quantity Value Quantity Value

2544 457.15 52.72 9335.82 428.14

2545 545.63 64.56 10473.05 491.23

2546 717.32 74.13 13841.00 718.82

2547 1377.10 116.70 14730.82 787.50

2548 1493.04 127.98 14262.27 730.44

Jan.-Nov. 2548 1391.48 118.54 13013.45 665.15

Jan.-Nov. 2549 1821.96 156.06 13972.12 678.20

Source: the Customs Department, collected: Thai Farmer Bank Researcher

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2.4 Vision of your Organization

To be well known ice-cream shop in ABAC Bangna Campus.

2.5 Mission

Make all customers enjoy and satisfy by giving the best service. All Zdravo

Siam’s products are high quality, and use ingredients from Thai agricultural product.

Respond to ice-cream’s lovers, and also students who live in ABAC Bangna campus

area. Zdravo Siam will work with carefully by always drive out fresh products and seek

for successfully in every time. Customer’s need is the first thing we take care of, follow

by staffs. Zdravo Siam is interesting with a variety of ice-cream flavors. Staff is the

beginning of the way to success.

2.6 Strategy

2.6.1 Corporate Level

The strategy we choose to use in a corporate level is intensive strategies and

mainly focused on strategy that is Product development, because now a day’s ice cream

business has a high level of competition in the market which all of the ice cream shop

have the same taste of an ice cream. Way of making ice cream but for our ice cream

shop we are looking for the gap in the market which it has some space that we can grow

in the market such as a fresh homemade ice cream which we will bring out the new

flavor to the ice cream market by the product development .

The second aim is by the market development by sent the product to the higher

level of market and if our ice cream shops have a stable growth rate in the new upper

level we can aim to opened up a franchise.

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2.6.2 Business Level

Figure2.1: Porter’s five generic strategies

According to figure.3 we choose to be type 3 which is a differentiation strategy

which now a day’s an ice cream industry are highly competing in cost but the flavor on

an ice-cream are still the same but our ice-cream shop are mainly focus on homemade

ice cream business which made from fruit and there are some gap in the ABAC plaza

market so we can built some differentiation by offering the new flavor of ice cream into

the market and at the same time we can built the differentiation of our brand can be

unique by the style of shop decoration.

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2.6.3 Functional Level

Administration

For the Zdravo Siam, customer is the first one we care of. Thus, the shop should

be following the best quality of administration process, including the shop decoration

and service.

Business Strategies

- Good shop decoration

- Always offer new promotion for customers

- Build good relationship with customer

Marketing

Now our shop is set at ABAC University, so, the target market of the shop is

teenagers who live around ABAC university area. However, to expand our business to

be well known from many people, we have planned to promote and expand more

branches in the future.

Marketing Strategies

-Making any special Advertising and offer to customers, such as a discount promotion.

-Good service

-Expand more branches, over Bangkok area.

Production

To help Thai farmers and Thai economy, we also use all of Thai ingredient for

our product. A shop has fashionable ice-cream, such as Thai fruit ice-cream. However,

the production quantity will depend on weather and marketing. We will decrease the

production on summer because our customers have no class in the summer season so,

they did not come to the ABAC Campus so, and the demand will decrease. In winter

and rainy season our customer come back to ABAC Campus that is our shop location

so, the demand will increase related to the population of customer too.

Production Strategies

- Production must be support customer’s demand in a hundred percents.

- Cleanness Production

- Good quality of ingredients

- Stable taste of product

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Human Resources

We pay attention of staff’s performance. They need to develop themselves in

every time, have a clear direction of work and can earn profit to the business. Moreover,

the relationship between staffs is very important, because it can drive the business to be

successful in quickly.

Human Resource Strategies

- Training and repeating all staffs to be always ready to work/.

- Motivating all staffs, by offer them extra cash.

Financial

We should have a good capital which high percentage of securely. It might be come

from entrepreneur or take on loan.

Financial Strategies

- Find the low interest of loan.

- Making a shop account

- Be economical [water and electricity]

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Chapter 3

Market Feasibility Study

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Chapter3

3.1 Market Analysis

According to the survey of the area in ABAC Plaza we can divined the market

into main four part of the segment as the following

- Food

- Beverage

- Bakery

- Dessert

- Ice cream

Zdravo siam mainly focused to the Ice cream market share which from the

competitive analyses in the ABAC plaza which are highly compete in the food and

beverage. So, Zdravo Siam has seen the gap in the market which has no any ice-cream

shop in the ABAC plaza area. This is an opportunity in opening up an ice cream shop in

ABAC plaza area which we can see an opportunity that can built a profit for the

investor.

3.1.1 General Environment Analysis

Political

Today, the government has problems in agriculture by using price guarantee, so

result in agricultures have to improve quality to sell more. It makes the advantage for

company because raw materials in production are from domestic agricultural

production. When the outcomes have high quality, it enables to select raw materials to

produce more and better product quality with lower-cost.

Economic

The economic factor will not have an effect on the Zdravo siam because Zdravo

siam located in ABAC Plaza area Althrough, the economic factor didn’t have an effect

to the rate of ice cream consumption is also growing continuously , so it gives the

opportunity for company to get market share.

Social

Today, consumers attend to healthy, so the company has the opportunity to

develop useful products for health such as fruit ice cream, low fat ice cream, high

17

calcium milk ice cream, and sugar-free ice cream. It attract to the consumers of all ages,

whether children, teenager, adults until to the elderly.

Environment

Thailand is a country located in the tropical. It makes demand for consumption

ice cream all the year. Thailand also has fruits and agricultural raw materials to produce

the ice cream. These are strengths of the company to get the opportunities for product

development and export to foreign countries.

Technology

Now process of production for homemade ice cream has been improved by

technology development so the production for ice creams both looks and tastes to meet

the needs of customers who always want the innovation.

3.1.2 Competition Analysis (3C Analysis)

3.1.2.1 Competitor’s analysis

We have position in Zdravo Siam in ABAC plaza which is first mover

advantage because no exist of supply that provides ice cream to the demand on this

market. So, almost of our competitors are substitute competitors. We can analyze the

main competitor into the following which is

S&P

They produce and distribute bakery. Frozen food shelf Products, sausage and

ham pasta line and color, odor, used in food industry under the name "S & P" "Delio"

"Patio" "Vanilla" "Bluecup" and "Royallee" through branches and restaurants bakery

and Super Markets. and export to foreign countries. Almost price of their product start;

cookies 78 baht, cake 325 baht, snack 35 baht, coffee 55 baht and bakery 49 baht.

Coffee world

Coffee World is coffee house that offers a comprehensive range of hot and iced

coffees with fresh complementary foods such as waffles, sandwiches and signature

cakes, muffins and cookies. The company places a lot of emphasis on picking and

roasting the finest Arabica beans to create rich brews prepared by our highly trained

baristas (professional coffee makers).Almost of the price start; cake 70 baht and coffee

65 baht.

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Deli House

The Deli house is Europe food style restaurant, which has food, bakery and

beverage. The Deli house is soft environment

The many product such as Soft bread texture, Sweet fresh butter, Fine dish,

Sweet Dumpling, cake and pork products such as Latin American Sausage, Smoked

sausage etc. Almost of the price start; foods are 69 baht, bakeries 39 baht and beverages

39 baht.

Blue Coffee

The company's business is the operation of coffee houses serving food and

coffee, located in ABAC plaza. Blue coffee's excellent reputation is based on serving

coffees of the highest quality, with the best aroma and taste, made from 100% fresh

coffee beans. Use the "Menu Explorer" at right to find out about some of the many

delicious beverage items on our menus. Almost of the price start; coffees are 65 baht

and cakes are 39 baht.

Take a Break

The take a break is comfortable style restaurant. The feature of restaurant is fast

but very delicious. Almost of the price start; foods are 49 baht and beverages 35 baht.

Mister Donut

Mister Donut is doughnut franchise shops. Almost of the price start; donuts 10

baht, bakeries 35 baht and beverages 35 baht.

Boost Juice

Boost Juice Bars is an international chain of retail outlets that specialize in

selling fruit juice. Boost Juice Bars was formed in 2000 with the first store located in

Adelaide, South Australia. The company has expanded internationally with stores in

Asia, Europe and the Middle East through franchising. Almost of the price start

beverage at 45 baht.

Squeeze

A subsidiary of Tipco Company mainly focused on sale of natural fruit

smoothies. Almost of the price start beverage at 35 baht.

Aunntie’s Ann

Auntie Anne's has a variety of pretzel products, dipping sauces, and beverages to

choose. Almost of the price start; bakeries are 59 baht and beverage 39 baht.

19

3.1.2.2 Competitive analysis

Ice cream market is a market that is constantly expanding. There are more

current operators because of operate easily. The observation that famous brand open

more branches and begin to development in production, marketing and expanding

distribution channels. Major reputation business has more capital is more aggressive in

market and create distribution channels and distribution to cover thoroughly. At present,

ice cream market in Thailand is quite capable of continuous growth. Benefits of ice

cream market in Thailand can be doing throughout the year because the weather is quite

hot and weather is not different. Many people like to eat ice cream because it makes

them relax and fresh.

Our company is homemade ice cream own position is in the premium ice cream

market. The market value of ice cream premium market is approximately 17% or

approximately 1800 million baths. Market conditions of premium ice cream are serving

sit eating patterns. The major are compete between big 2 companies; Swensen’s ice

cream, Hagen Daze’s ice cream. While the other competitor in ABAC Plaza area is

ignore to compete in the ice cream market.

3.1.2.3 Customer analysis

Company emphasizes in young and working age customers with an average age

ranging from 17-35 years with high purchasing power parity and want innovation. This

easy to bring the product into the consumers know.

From a target group, ABAC students who want to consume premium homemade

ice cream. Because of the gap area ABAC Plaza not supply ice cream to meet existing

demand. The opportunity to visit the company capture market share in this. The market

is a market that is very important due to its ability to target the high spending. Average

income per capita is 10000 baht per month based on the personal costs of ABAC

students. http://www.abaca.au.edu/Abaca/news-au/35abac.php. From expectations of

behavior based on the target, Research on Consumer perception of the nature and

quality of home-made and commercial dairy ice cream of John A. Bower, and Irene A.

Baxter, which shows demand is associated with income. That indicates the relationship

between demands for low cost products when consumers have more income. A position

appropriate its needs and profitable.

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Figure 3.1: Segment in ABAC Plaza

3.2 STP Analysis

3.2.1 Segment

Zdravo siam has segmented the market area in ABAC Plaza to be as the

following

- Food

- Beverage

- Bakery

- Dessert

- Ice cream

It can show the market share of the following segment into these separate parts.

3.2.2 Targeting

Zdravo siam targeting on the ice cream market which there are no competitor in

this market share so there is an opportunity to built some profit from the gap in the

market.

3.2.3 Positioning

Zdravo siam has a logo designed to built a brand recognitions to consumer and

position our brand at premium ice cream shop which is a homemade ice cream and

arrange the price of the ice cream at 35 baht per scoop it is an affordable price Zdravo

to bring customer back to buy again. Another things is a shop decoration which we will

decorate in to a new style in a unique ways to give a special felling to customer when

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they come Zdravo siam are focused on homemade ice cream to inform to customer that

they are the drive that push the company to the brighter future which it can build the

brand loyalty.

Zdravo siam will positioning by using the blue ocean strategy as shown below to

show that from the survey we can identify the variety of product in ABAC Plaza and

has a gap in the market to gain profit.

Figure 3.2: Blue ocean strategy

From the graph above it can illustrate that the gap in the Abac Plaza Market are

low supply in an ice cream product,so Zdravo Siam aim the gap in the market and will

positioning our self on the ice cream shop that give more supply of an ice cream product

according to the survey from questionnaire from date…-…. Shown that there are a

demand of an ice cream needs.

3.3 Marketing Mix Strategy

3.3.1 Product

Our ice-cream is ice cream for the health. It’s mixture between ice-cream with

many fruits. And the result is the delicious that is valuable for health. We have free

22

water enhance give with a customer. Which these things, we recruit for customer it

more than dessert or ice-cream. But it is modernism, flavors of ice-cream sweetness for

customer.

3.3.2 Price

The majority of the business’ sales will come from ice cream. We use price

strategy 35 Baht. Which we use psychology price in our products and price of our

products are appropriate. For basic price we fix a price by use the capital because almost

business use this method.

3.3.3 Place

We choose ABAC campus because it’s easy to sell image and ABAC bangna

campus is the place which students has influential in goods buying from statistics to

open the shop at ABAC and possibility to make profits by decorate the shop for

customer who wants to relax by provide the music to customer with the chilling music

to and the relaxation atmosphere while waiting to go to class or place to sit back and

relax after the class

3.3.4 Promotion

Zdravo siam will push all of the promotion to built the good relationship with

customer and give the customer good perception to the Zdravo siam brand. Such as a

discount or a promotion that will appeal customer to come and spend the money at

Zdravo siam.

3.4Five force model

Exist competitor

Overview of the ice cream market will find that there are many competitors. Both

small and large. Coupled with the ice cream market rates grasp how early in the 50-80%

level as well as market growth continued and potential future growth rates due to more

consumption of ice cream in Thailand. Current is low compared to other countries. But

the location of the shop area without any ice cream shop opens. So, there are no direct

competitor to compete with Zdravo siam this is the opportunity to gain high sale

volume.

23

New entry barrier

Access to ice cream markets is easy especially in the group of Home-made ice

cream as a less complex production technologies Ice cream business, but business is

similar to other food. Flavor is the highlight. And to derive methods to produce the best

ice cream flavor that require different techniques that have resulted from a long trial.

This may not simply be imitated. And take not less to do. Counterfeit goods to be

Quality, the same level together. For the protection of capital and competitive ability

more the company is focused on building relationships with customers. We have to

focus on marketing promotions that have access needs of students. Exit strategies and

large competitors cannot imitate or emulate difficult. To attract customers to stay with

us such as free print if the purchase of the stores scheduled.

Substitute product

Ice cream is a product that is easy to substitute products. Depending on whether

a product will look kind of ice cream. If any overview food that is sweet and kind one,

products to replace the food is sweet to all. Which a number, If we compare the prices

of existing competitors, we are also in line with cheaper quality compared. We also are

a feature. Home Made Ice Cream. The most competitive products are franchiser. That is

available generally. When viewed from the sweltering weather outside of the university

and ABAC. Ice cream seems to be popular than other dessert.

Power of buyer

The company brand is new and not yet well known and accepted in the market.

The Company is required in areas ABAC Plaza. And store sales. In the drive to

consume. Since the image area of the store is set to see a good image and thus help

support the good image of the store to customers. Later, when the goods have been

more popular. Will contribute to building the company's bargaining power increase.

However, the quality of ice cream flavors are the most important factors to Business in

the long term tend to increase the likelihood of repeat purchases of consumers.

24

Power of supplier

Because raw material production base of the product was not difficult to find,

such as milk, cream, eggs, fresh vegetables, fruits, etc., a product that provides easy and

has many manufacturers in the market for a Supplier bargaining power is low.

Especially the agricultural products. Normal price will fall when the season because of

low productivity into the market once substantial. However, to get a good quality of raw

material quality tests from some manufacturers. To facilitate the quality control of raw

materials.

From the above analysis showed that ice-cream business is an industry of

market has high gravity. Both the production cost per unit low. (Making a gross profit

margin high) into the market is doing. Easy because no barriers to entry. Especially in

the Ice Cream Home-made small and Supplier bargaining power is lower. Because

materials used in manufacturing a product purchased at general and sellers in the market

more. However, the qualities of ice cream flavors are the most important factors to

business in the long term.

25

3.5 Sales Forecast/Profit Estimation

According to the sale forecasting method which we are focusing on the Micro

forecasting is concerned with detailed unit sales forecasts. This is about determining a

product’s market share in a particular industry and considering what will happen to that

market share in the future. As the statistic of population in Samutprakarn province

[December, 2009], there are 1,147224 people; 555,811 for males, and 591,413 for

females. Zdravo Siam will place at ABAC University, which is in Bangsaothong

District, Samutprakarn. There are 20,511 students; 18,256 from bachelor degree, 2,061

from master degree, and 194 from doctor degree [As the entire of population in

Bangsaothong, there are 41,655 people]. First the estimate numbers of customer focus

mainly on student from bachelor degree to master degree which the number is 11,000.

So,we break down into 11000 x 20% which equal 2,200 population.

Time period are: 60 months or 5 years

Average selling price are: 35 baht/scoop

Next we estimate the company demand

Which company demand = market demand x company market share

Zdravo siam expected that student in ABAC university will consume our product at 1.5

liter / person /year

So, market demand = 2,200 x 1.5 (liter/person) = 3,300 liter

Market share of Zdravo siam ice-cream are 20%

Which came from the survey from the Abac Plaza

So, the company demands of selling are

Comapny demand in selling of ice cream = 3,300 x 15 (1 liter will equal 15

scoops of ice cream) = 49,500scoops / years

49,500 /12 = 4,125 scoops per month

4125 /30 = 137 scoops per day which Zdravo siam has 10 flavour which can break

down into an approximate 137/10 = 13 Scoops per flavor per day.

26

3.5.1 Time Series Analysis

Breakdown into 4 parts

The trend: According to the study of Kasikorn research center state that the ice

cream market will growth rapidly of 5% every year according to the consumer behavior.

The seasonal: Zdravo siam are located in ABAC Plaza which are in ABAC

campus area which it can divided into three seasonal as the following in 1’st semester

2’nd semester and 3’rd which is summer and the sale forecasting in the summer season

will approximate to decrease of 50% of sale volume because there are less student to

come and study at ABAC university.

Erratic event: Zdravo siam sale forecast will estimate the total sale in the

summer lower than the open semester for 50% because the student in ABAC Bangna

campus 50% of them will not take the summer course

Response: To increase the sale volume Zdravo siam will mainly response to this

situation by giving out the leaflet or launching promotion to motivate the market.

27

3.6 Sale Forecast

Year 1 Total sales in cash


Product JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Total

Rum Raisin 7,182 8,379 3,591 2,394 2,394 11,970 9,576 11,970 14,364 16,758 15,561 15,561 119,700

Golden Fresh milk 6,048 7,056 3,024 2,016 2,016 10,080 8,064 10,080 12,096 14,112 13,104 13,104 100,800

Almond Fresh milk 5,368 6,262 2,684 1,789 1,789 8,946 7,157 8,946 10,735 12,524 11,630 11,630 89,460

Green tea Fresh milk 5,065 5,909 2,533 1,688 1,688 8,442 6,754 8,442 10,130 11,819 10,975 10,975 84,420

Ice tea Fresh milk 5,594 6,527 2,797 1,865 1,865 9,324 7,459 9,324 11,189 13,054 12,121 12,121 93,240

Lynchee Sorbet 2,873 3,352 1,436 958 958 4,788 3,830 4,788 5,746 6,703 6,224 6,224 47,880

Papermint 2,268 2,646 1,134 756 756 3,780 3,024 3,780 4,536 5,292 4,914 4,914 37,800

Vanila 7,560 8,820 3,780 2,520 2,520 12,600 10,080 12,600 15,120 17,640 16,380 16,380 126,000

Chocolate 9,828 11,466 4,914 3,276 3,276 16,380 13,104 16,380 19,656 22,932 21,294 21,294 163,800

Strawberry 10,584 12,348 5,292 3,528 3,528 17,640 14,112 17,640 21,168 24,696 22,932 22,932 176,400

Total 62,370 72,765 31,185 20,790 20,790 103,950 83,160 103,950 124,740 145,530 135,135 135,135 1,039,500

Toatal sale


Rum Raisin 15,960 19,950 77,976 64,980 29,241 38,988 97,470 272,916 487,350 318,402 438,615 295,659 245,641





Lynchee Sorbet 8,820 10,620 6,398 5,413 4,579 8,968 10,799 13,003 15,656 18,852 22,699 27,332 153,140

Papermint 19,404 23,364 14,076 11,908 10,074 19,779 23,816 28,676 34,529 41,577 50,062 60,280 337,546

Vanila 10,584 12,744 7,678 6,495 5,495 10,797 13,001 15,654 18,849 22,697 27,329 32,907 184,231

Chocolate 12,348 14,868 8,958 7,578 6,411 12,567 15,132 18,221 21,939 26,417 31,809 38,301 214,550

Strawberry 22,932 27,612 16,635 14,074 11,906 23,364 28,133 33,875 40,789 49,114 59,138 71,208 398,781

Total 164,052 197,535 119,007 100,680 85,175 167,163 201,281 242,362 291,829 351,391 423,110 509,466 2,853,051

Toatal sale

28


Year4 Total sale in cash


Rum Raisin 17,556 15,362 6,584 4,389 4,389 24,140 21,945 21,945 21,945 26,334 28,529 26,334 219,450





Lynchee Sorbet 7,022 6,145 2,633 1,756 1,756 9,656 8,778 8,778 8,778 10,534 11,411 10,534 87,780

Papermint 5,544 4,851 2,079 1,386 1,386 7,623 6,930 6,930 6,930 8,316 9,009 8,316 69,300

Vanila 18,480 16,170 6,930 4,620 4,620 25,410 23,100 23,100 23,100 27,720 30,030 27,720 231,000

Chocolate 24,024 21,021 9,009 6,006 6,006 33,033 30,030 30,030 30,030 36,036 39,039 36,036 300,300

Strawberry 25,872 22,638 9,702 6,468 6,468 35,574 32,340 32,340 32,340 38,808 42,042 38,808 323,400

Total 152,460 133,403 57,173 38,115 38,115 209,633 190,575 190,575 190,575 228,690 247,748 228,690 1,905,750

Toatal sale


Rum Raisin 12,768 15,960 4,788 3,192 4,788 14,364 22,344 19,152 15,960 12,768 15,960 17,556 159,600





Lynchee Sorbet 5,107 6,384 1,915 1,277 1,915 5,746 8,938 7,661 6,384 5,107 6,384 7,022 63,840

Papermint 4,032 5,040 1,512 1,008 1,512 4,536 7,056 6,048 5,040 4,032 5,040 5,544 50,400

Vanila 13,440 16,800 5,040 3,360 5,040 15,120 23,520 20,160 16,800 13,440 16,800 18,480 168,000

Chocolate 17,472 21,840 6,552 4,368 6,552 19,656 30,576 26,208 21,840 17,472 21,840 24,024 218,400

Strawberry 18,816 23,520 7,056 4,704 7,056 21,168 32,928 28,224 23,520 18,816 23,520 25,872 235,200

Total 110,880 138,600 41,580 27,720 41,580 124,740 194,040 166,320 138,600 110,880 138,600 152,460 1,386,000

Toatal sale

29

Year 5 Total sale in cash


Rum Raisin 19,950 15,960 5,985 3,990 3,990 27,930 23,940 15,960 19,950 19,950 21,945 19,950 199,500





Lynchee Sorbet 7,980 6,384 2,394 1,596 1,596 11,172 9,576 6,384 7,980 7,980 8,778 7,980 79,800

Papermint 6,300 5,040 1,890 1,260 1,260 8,820 7,560 5,040 6,300 6,300 6,930 6,300 63,000

Vanila 21,000 16,800 6,300 4,200 4,200 29,400 25,200 16,800 21,000 21,000 23,100 21,000 210,000

Chocolate 27,300 21,840 8,190 5,460 5,460 38,220 32,760 21,840 27,300 27,300 30,030 27,300 273,000

Strawberry 29,400 23,520 8,820 5,880 5,880 41,160 35,280 23,520 29,400 29,400 32,340 29,400 294,000

Total 173,250 138,600 51,975 34,650 34,650 242,550 207,900 138,600 173,250 173,250 190,575 173,250 1,732,500

Toatal sale

30

Marketing Expense

Note* The Zdravo siam will plus the charge of the cone for 2 baht per cone so in the marketing expense it will be the deduction.

Total Marketing Expense Y1 Y2 Y3 Y4 Y5

Leaflet 600 600 600 600 600

Paper 1,080 1,080 1,080 1,080 1,080

Internet 4,200 4,200 4,200 4,200 4,200

Sunday set expense 1,800 3,000 3,300 2,400 3,000

Cone profit -600 -1,000 -1,100 -800 -1,000

Big comboset 3,000 5,000 5,500 4,000 5,000

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0%

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Zdravo siam Growth rate

Zdravo siam

3.7 Conclusion

According to the sale forecasting we it can conclude that the average income of

the total 60 month will be approximate 148,613 baht per month and the seasoning sale

will be shown as the following figure.

Figure 3.3: Zdravo siam Growth rath

As the figure shown above it will show the sharp decrease in sales this happened

because of the season of the university that close for summer. But the advantage are

even the sale are 50% lower than normal but The ABAC plaza will give an exception

not to gather the rent of the summer season.

The total of marketing expense is 60,900 baht and Zdravo siam will plus the

charge of the cone if customer wants to ice cream scoops on cone.

32

Chapter 4

Technical Feasibility Study

33

Chapter 4

4.1 Production and Operations Analysis

4.1.1 Product Characteristics

Zdravo siam product focused on only selling ice cream which generally can be dividend

in to ten flavors

4.1.1.1. Rum raisin

4.1.1.2. Golden ice-cream fresh milk

4.1.1.3. Almond ice-cream fresh milk

4.1.1.4. Green tea ice-cream fresh milk

4.1.1.5. Ice tea Ice-cream

4.1.1.6. Lynches Sorbet

4.1.1.7. Pepper mint ice-cream

4.1.1.8. Ice-cream vanilla

4.1.1.9. Ice-cream chocolate

4.1.1.10. Ice-cream Strawberry

All of Zdravo siam ice cream use a high quality ingredient inside Thailand.

34

4.1.2Production process

The basic steps in the manufacturing of ice cream are generally as follows:

blending of the mix ingredients

pasteurization

homogenization

aging the mix

freezing

packaging

hardening

Figure4.1: Process flow diagram for ice cream manufacture

Process flow diagram for ice cream manufacture: the red section represents the

operations involving raw, unpasteurized mix, the pale blue section represents the

operations involving pasteurized mix, and the dark blue section represents the

operations involving frozen ice cream.

35

Blending

First the ingredients are selected based on the desired formulation and the calculation of

the recipe from the formulation and the ingredients chosen, then the ingredients are

weighed and blended together to produce what is known as the "ice cream mix".

Blending requires rapid agitation to incorporate powders, and often high speed blenders

are used.

Figure 4.2: Simple hopper device for incorporating dry ingredients

36

Figure 4.3: High shear blender for incorporating dry ingredients

Pasteurization

The mix is then pasteurized. Pasteurization is the biological control point in the system,

designed for the destruction of pathogenic bacteria. In addition to this very important

function, pasteurization also reduces the number of spoilage organisms such as

psychrotrophs, and helps to hydrate some of the components (proteins, stabilizers).

Pasteurization (Ontario regulations): 69° C/30 min. 80° C/25s

Both batch pasteurizers and continuous (HTST) methods are used.

Batch pasteurizers lead to more whey protein denaturation, which some people feel

gives a better body to the ice cream. In a batch pasteurization system, blending of the

proper ingredient amounts is done in large jacketed vats equipped with some means of

heating, usually steam or hot water. The product is then heated in the vat to at least 69 C

(155 F) and held for 30 minutes to satisfy legal requirements for pasteurization,

necessary for the destruction of pathogenic bacteria. Various time temperature

combinations can be used. The heat treatment must be severe enough to ensure

37

destruction of pathogens and to reduce the bacterial count to a maximum of 100,000 per

gram. Following pasteurization, the mix is homogenized by means of high pressures

and then is passed across some type of heat exchanger (plate or double or triple tube) for

the purpose of cooling the mix to refrigerated temperatures (4 C). Batch tanks are

usually operated in tandem so that one is holding while the other is being prepared.

Automatic timers and valves ensure the proper holding time has been met.

Continuous pasteurization is usually performed in a high temperature short time (HTST)

heat exchanger following blending of ingredients in a large, insulated feed tank. Some

preheating, to 30 to 40 C, is necessary for solubilization of the components. The HTST

system is equipped with a heating section, a cooling section, and a regeneration section.

Cooling sections of ice cream mix HTST presses are usually larger than milk HTST

presses. Due to the preheating of the mix, regeneration is lost and mix entering the

cooling section is still quite warm.

Homogenization

The mix is also homogenized which forms the fat emulsion by breaking down or

reducing the size of the fat globules found in milk or cream to less than 1 µ m. Two

stage homogenization is usually preferred for ice cream mix. Clumping or clustering of

the fat is reduced thereby producing a thinner, more rapidly whipped mix. Melt-down is

also improved. Homogenization provides the following functions in ice cream

manufacture:

Reduces size of fat globules

Increases surface area

Forms membrane

makes possible the use of butter, frozen cream, etc.

By helping to form the fat structure, it also has the following indirect effects: ---

- makes a smoother ice cream

- gives a greater apparent richness and palatability

- better air stability

- increases resistance to melting

38

Homogenization of the mix should take place at the pasteurizing temperature. The high

temperature produces more efficient breaking up of the fat globules at any given

pressure and also reduces fat clumping and the tendency to thick, heavy bodied mixes.

No one pressure can be recommended that will give satisfactory results under all

conditions. The higher the fat and total solids in the mix, the lower the pressure should

be. If a two stage homogenizer is used, a pressure of 2000 - 2500 psi on the first stage

and 500 - 1000 psi on the second stage should be satisfactory under most conditions.

Two stage homogenization is usually preferred for ice cream mix. Clumping or

clustering of the fat is reduced thereby producing a thinner, more rapidly whipped mix.

Melt-down is also improved.

Ageing

The mix is then aged for at least four hours and usually overnight. This allows time for

the fat to cool down and crystallize, and for the proteins and polysaccharides to fully

hydrate. Aging provides the following functions:

Improves whipping qualities of mix and body and texture of ice cream.

providing time for fat crystallization, so the fat can partially coalesce;

allowing time for full protein and stabilizer hydration and a resulting slight

viscosity increase;

allowing time for membrane rearrangement and protein/emulsifier interaction, as

emulsifiers displace proteins from the fat globule surface, which allows for a

reduction in stabilization of the fat globules and enhanced partial coalescence.

Aging is performed in insulated or refrigerated storage tanks, silos, etc. Mix temperature

should be maintained as low as possible without freezing, at or below 5 C. An aging

time of overnight is likely to give best results under average plant conditions. A "green"

or unaged mix is usually quickly detected at the freezer.

39

Freezing and Hardening

Following mix processing, the mix is drawn into a flavour tank where any liquid

flavors, fruit purees, or colours are added. The mix then enters the dynamic freezing

process which both freezes a portion of the water and whips air into the frozen mix. The

"barrel" freezer is a scraped-surface, tubular heat exchanger, which is jacketed with a

boiling refrigerant such as ammonia or freon. Mix is pumped through this freezer and is

drawn off the other end in a matter of 30 seconds, (or 10 to 15 minutes in the case of

batch freezers) with about 50% of its water frozen. There are rotating blades inside the

barrel that keep the ice scraped off the surface of the freezer and also dashers inside the

machine which help to whip the mix and incorporate air.

Figure 4.4: The Continuous Ice Cream Freezer

40

Ice cream contains a considerable quantity of air, up to half of its volume. This gives the

product its characteristic lightness. Without air, ice cream would be similar to a frozen

ice cube. The air content is termed its overrun, which can be calculated mathematically.

As the ice cream is drawn with about half of its water frozen, particulate matter such as

fruits, nuts, candy, cookies, or whatever you like, is added to the semi-frozen slurry

which has a consistency similar to soft-serve ice cream. In fact, almost the only thing

which differentiates hard frozen ice cream from soft-serve, is the fact that soft serve is

drawn into cones at this point in the process rather than into packages for subsequent

hardening.

Hardening

After the particulates have been added, the ice cream is packaged and is placed into a

blast freezer at -30° to -40° C where most of the remainder of the water is frozen. Below

about -25° C, ice cream is stable for indefinite periods without danger of ice crystal

growth; however, above this temperature, ice crystal growth is possible and the rate of

crystal growth is dependant upon the temperature of storage. This limits the shelf life of

the ice cream.

A primer on the theoretical aspects of freezing will help you to fully understand the

freezing and recrystallization process.

Hardening involves static (still, quiescent) freezing of the packaged products in blast

freezers. Freezing rate must still be rapid, so freezing techniques involve low

temperature (-40oC) with either enhanced convection (freezing tunnels with forced air

fans) or enhanced conduction (plate freezers).

41

Figure 4.5: Spiral, wind tunnel freezer

The rate of heat transfer in a frezing porcess is affected by the temperature difference,

the surface area exposed and the heat transfer coefficient (Q=U A dT). Thus, the factors

affecting hardening are those affecting this rate of heat transfer:

Temperature of blast freezer - the colder the temperature, the faster the

hardening, the smoother the product.

Rapid circulation of air - increases convective heat transfer.

Temperature of ice cream when placed in the hardening freezer - the colder the

ice cream at draw, the faster the hardening; - must get through packaging

operations fast.

Size of container - exposure of maximum surface area to cold air, especially

important to consider shrink wrapped bundles - they become a much larger mass

to freeze. Bundling should be done after hardening.

Composition of ice cream - related to freezing point depression and the

temperature required to ensure a significantly high ice phase volume.

Method of stacking containers or bundles to allow air circulation. Circulation

should not be impeded - there should be no 'dead air' spaces (e.g., round vs.

square packages).

Care of evaporator - freedom from frost - acts as insulator.

42

Package type, should not impede heat transfer - e.g., styrofoam liner or

corrugated cardboard may protect against heat shock after hardening, but

reduces heat transfer during freezing so not feasible.

Ice cream from the dynamic freezing process (continuous freezer) can also be

transformed into an array of novely/impulse products through a variety of filling and

forming machines, which have ben identified on a separate page.

4.1.3 Life Time

The most frequently occurring textural defect in ice cream is the development of a

coarse, icy texture. Iciness is also the primary limitation to the shelf life of ice cream

and probably also accounts for countless lost sales through customer dissatisfaction with

quality. There is no answer to the question "What is the shelf-life of ice cream?", it

depends entirely on its conditions of storage. It might be one year, or it might be two

weeks or less. Although the source of and the contributing factors to the problem of

icincess are well known, it is also one of the defects about which I am most often asked.

Processor's have known for a long time how to prevent iciness and the answer is still the

same: formulate the ice cream properly to begin with, freeze the ice cream quickly in a

well-maintained barrel freezer, harden the ice cream rapidly, and avoid as much as

possible temperature fluctuations during storage and distribution. Ice crystals need to be

numerous and of small, uniform size so they are not detected when eaten. It is heat

shock, large temperature fluctuations, which is the greatest culprit to the loss of these

small, uniform ice crystal size distributions and resulting coarse, icy texture. Perhaps it

is time another message was added to the prevention of iciness and that is to educate the

retailer's and the consumer about the causes of iciness and preventative action to

maintain a smooth-textured ice cream.

Before we begin looking specifically at shelf-life, you need to re-acquaint yourself with

the freezing aspects of ice cream manufacturing, the structure of ice crystals in ice

cream, and the theoretical aspects of the freezing process.

43

Temperature Fluctuations and Ice Recrystallization

Ice crystals are relatively unstable, and during frozen storage, they undergo changes in

number, size, and shape, known collectively as recrystallization. This is probably the

most important reaction leading to quality losses in all frozen foods. Some

recrystallization occurs naturally at constant temperatures, but by far the majority of

problems are created as a result of temperature fluctuations. If the temperature during

the frozen storage of ice cream increases, some of the ice crystals, particularly the

smaller ones, melt and consequently the amount of unfrozen water in the serum phase

increases. Conversely, as temperatures decrease, water will refreeze but does not

renucleate. Rather, it is deposited on the surface of larger crystals, so the net result is

that the total numbers of crystals diminish and the mean crystal size increases.

Temperature fluctuations are common in frozen storage as a result of the cyclic nature

of refrigeration systems and the need for automatic defrosts. However, mishandling of

product is probably the biggest culprit. The sight of ice cream sitting unrefrigerated on a

loading dock, in the supermarket aisle, in a shopping cart, or in someone's grocery bag

is too common. If one were to track the temperature history of ice cream during

distribution, retailing, and finally consumption, one would find a great number of

temperature fluctuations. Each time the temperature changes, the ice to serum content

changes, and the smaller ice crystals disappear while the larger ones grow even larger.

Recrystallization is minimized by maintaining low and constant storage temperatures.

The graph below provides data to show the increase in size of ice crystals that occurs

with temperature cycles (from the work of A. Flores and H. D. Goff).

44

Figure 4.6 Cumulative distribution of ice crystals

Below are several cryo-scanning electron micrographic images of ice cream after

temperature fluctuations. In the first composite, all pictures are at the same

magnification, the top two are fresh, the botton two are heat-shocked. You can see the

tremendous increase in crystals size that has occurred. The next image shows an

example of accretion, where crystals fuse as they grow.

Maintaining Shelf-life

Formulate the ice cream properly

Freezing point depression and sugar considerations Stabilizers

Freeze the ice cream quickly in a well-maintained barrel freezer

Continuous freezers with high rates of heat exchangeFree of fouling

(eg., oil) on refrigerant side

Blades with a good, even edge

Short, insulated process lines through ingredient feeder, packaging

equipment

Precooling of ingredients Harden the ice cream rapidly

45

High rates of heat transfer: convection (high ΔT and forced air with

free air flow) or conduction

Importance of thermal centre and shrink-wrapping of bundles

Avoid temperature fluctuations during storage and distribution

Importance of low, constant temperatures

Avoid mishandling at all stages

Educate retailers and consumers about shelf stability

Mishandling is usually not at the manufacturing level but quality

losses affect

4.1.4 Ice cream recipe

Rum raisin

White malt 2 teaspoons

Sugar 1/2 cup

Fresh milk 3 cup

Butter rum Syrup 20 ml

Rum ¼ teaspoon

Whip cream 1/3 cup

Guar Gum 1 tablespoon

Raisin

Directions:

How do the White malt mixed with the fresh milk sugar syrup mixed and rum

flavored cooking set fire hot enough fire gradually. First mixed together to mix. Then

put into cold enough. Mixed with milk, Whip cream, Guar Gum and mix then hold

together enough to cool the tank immersed in approximately time 4 hours and then put

ice cream in shaker. Take approximately time 30-40 minutes after completion may be

mixed currant. Then be refrigerated.

46

Pumpkin ice-cream fresh milk

White malt 2 teaspoons.

Sugar 1/2 cup.

Fresh milk 2 cup.

White chocolate syrup 10 ml.

Pumpkin 3/4 cup.

Whip cream 1/3 cup


Directions:

Bring White malt mixed with sugar. And fresh milk white chocolate. Thereafter bring

pumpkin heated gradually put sugar. After that mix pumpkin and whipping cream and

mix Guar Gum. Thereafter be immersed in the ice tank approximately times 3-4 hours.

Bring ice cream in shaker and then approximately times 30-40 minutes to complete.

Almond ice-cream fresh milk


Sugar 1/2 cup.

Fresh milk 3 cup.


Caramel 30 ml

Whip cream 1/3 cup


Almond 3/4 cup

Directions:


almond heated gradually put sugar. After that mix almond and whipping cream and mix

47

Guar Gum. Thereafter be immersed in the ice tank approximately times 4 hours. Bring

ice cream in shaker and then approximately times 30-40 minutes to complete.

Green tea ice-cream fresh milk

Powder green tea 1/3 cup.


Sugar 1/2 cup.

Fresh milk 3 cup.


Whip cream 1/3 cup


Directions:


Green tea syrup heated gradually put sugar. After that mix Green tea syrup and

whipping cream and mix Guar Gum. Thereafter be immersed in the ice tank

approximately times 4 hours. Bring ice cream in shaker and then approximately times

30-40 minutes to complete.

Ice tea ice-cream

Ice tea powder 1/3 cup.


Sugar 1/2 cup.

Fresh milk 3 cup.


Whip cream 1/3 cup


48

Directions:

Bring Ice tea powder and white malt mixed with sugar. And fresh milk white chocolate.

Thereafter bring Green tea syrup heated gradually put sugar. After that mix and

whipping cream and mix Guar Gum. Thereafter be immersed in the ice tank

approximately times 4 hours. Bring ice cream in shaker and then approximately times

30-40 minutes to complete.

Lynches Sorbet

Lynches in syrup 1 can (about 240g lynches and 200 ml syrup)

Castor sugar 20 g

1 egg white

Directions:

1. Puree the Lynches together with the sugar and the syrup.

2. Taste the mixture and adjust sugar if needed. Beat the egg white until almost stiff and

stir in the mixture. Make sure that all the ingredients are thoroughly mixed.

3. Transfer the complete mixture into an ice-cream maker and follow the manufacturer’s

instructions.

4. Puree the Lynches together with the sugar and the syrup. (Use a food processors or

blender)

5. Eat the egg white until almost stiff.

6. Mix the Leeches puree thoroughly with the egg white.

7. Make sure that all the ingredients are thoroughly mixed.

8. Preparation time: about 25-35 minutes.

http://recipesicecream.blogspot.com/2009/11/lychee-sorbet.html

49

Pepper mint ice-cream


Sugar 1/3 cup.

Pineapple juice 1/2 cup

Fresh milk 3 cup.

Pepper mint syrup 30 ml.


Whip cream 1/3 cup

Guar Gum 1.5 Tablespoon.

Directions:

Bring white malt mix with sugar. Thereafter bring fresh milk mix with white chocolate

syrup. And bring almonds syrup heated gradually. Mix with milk, whipping cream and

pineapple juice, put to Guar Gum. And cool the tank immersed about 4 hours. Put to

shaker. Approximately 30-40 minutes to complete.

Ice-cream vanilla

Fresh milk 3 cup

Egg 6 eggs

Sugar 1/3 cup

Whipping cream 1/3 cup

Vanilla powder 2 tablespoon



Directions:

Bring Vanilla powder mix with sugar. Thereafter bring fresh milk mix with white

chocolate syrup. And mix with milk, whipping cream and put to Guar Gum. And cool

the tank immersed about 4 hours. Put to shaker. Approximately 30-40 minutes to

complete.

50

Ice-cream Chocolate

Butter 1 cup

Fresh milk 1 cup

Sugar 1/3 cup


Chocolate powder 2 tablespoon


Whipping cream 1/3 cup

Directions:

Bring Chocolate powder mix with sugar. Thereafter bring fresh milk mix with white

chocolate syrup. And mix with milk, whipping cream and put to Guar Gum. And cool

the tank immersed about 4 hours. Put to shaker. Approximately 30-40 minutes to

complete.

Ice-cream Strawberry

Egg 3 eggs

Fresh milk 4 cup

Sweet milk 3 cup

whipping cream 1/3 cup

Guar Gum 1.5 Tablespoon

Strawberry 1/2 cup

Sugar 2 tablespoon

Directions:

Bring strawberry mix with sugar. Approximately 1 hour. Thereafter, put to shaker.

Bring fresh milk, corn starch, and salt to melt together and put cream, searched milk and

strawberry to malt together. And cool the tank immersed about 4 hours. Put to shaker.

Approximately 30-40 minutes to complete.

51

4.1.5 Location

Zdravo Siam will be located at ABAC Plaza

This will be inside of this plaza.

Figure4.7: ABAC plaza

52

Our shop opens at room number 41 which have an area of 58 Sq.m.

Figure4.2 Plan ground floor

Figure 4.8: Ground floor plan

53

4.1.6 Facility layout

Due to the design we ask the contractor to estimate the cost of decoration which will be

five hundred thousand. The contractors said that most of the cost that spends on the

decoration is cost of furniture.

Figure 4.9: Layout of Zdravo siam

54

Figure 4.10: Zdravo siam design 1

55

Figure 4.11: Zdravo siam design 2

56

Figure4.2: Zdravo siam design 3

57

The logo

Zdravo siam will be use this logo the main color of this logo is gold because we want to

sent out the theme of a high class with a combination of Thai word will give out the

look of high class. It also contain the meaning in each letters

Z- Zenith

D- Dispersion

R - Radical

A - Abet

V - Validness

O - Obdurate

As it shown above it will show the intend of name giving

http://dict.longdo.com/search/zenith

http://dictionary.meelink.com/dictionary/radical.html

http://dictionary.meelink.com/dictionary/abet.html

http://dictionary.meelink.com/dictionary/validness.html

http://dictionary.meelink.com/dictionary/obdurate.html

58

4.1.7 Machine Tools and Equipment

4.1.7.1 Equipments:

Ice-Cream Maker

To produce as many ice cream flavors. Capacity was 7 liters per 18 minutes of

maintenance can easily clean machine.

Price: 1.5 hundred thousand baht

Ice-cream Freezer

Ice-cream Freezer in U-Mirror Shape; 120 x 75 x 135 cm.12 trays for place ice-cream,

and 15 trays for stock, -20 Celsius for its temperature

Price: 46,000baht

Ice-Cream Scoop

Price: 450 Baht/ piece

59

Ice-Cream’s tray

An Ice-Cream’s tray; 26 x 16 x 10 cm.

Price: 580 Baht/ tray

Fruit’s tray

A fruit’s tray; 17 x 16 x 10 cm.

Price: 480 Baht/ tray

Cash Register

- JCM GOLD G-485 Dimensions include Drawer: 42 x 42 x 32 cm

Price: 35,000 bath

Blackboard

50 x 90 x 120 cm

Price: 550 Baht

60

Spoon

Stainless Steel

Price: 173 Baht

Tray

RW482 Plastic Tray [Brown] 29 x 42.3 x 2.5 cm.

Price :48 Baht

Basin

28 cm.

Price: 59 baht

Sunday glass

Price: 678 per Dozen

61

Glass

Price: 55 baht

Water Glass

Price: 75 per glass

Telephone

PANASONIC KX-TSC11MX.Single phone call. Displays the name and number to

call.Button Navigatar. Add ease of use.Screen LCD 2 line 16 the main story.50

number memory with 2 colors.1 year warranty.

Price: 990 baht

Pen

Price: 4.25 baht

62

Napkin

Width: 22 inch, Length: 22 inch

Price: 130 baht

Order

Size 3.75” x 5.25”

Price: 25 baht per book

Tissue Paper

1,000 sheet

Price:748 baht

Dishwashing liquid

63

Price: 27 baht

Scotch Brite

Price: 12 baht

Cooler

Coleman Excursion 16Quart

Price: 1,800 baht

Computer

Compaq Presario CQ3085L. Intel Pentium Dual Core E5400 2.7 GHz. 3 GB DDR2 ,

Harddisk 500 GB SATA. Super Mulit SATA Drive, 56K, 10/100 on. Monitor 18.5"

WLCD

Price: 13,800 baht

Printer

Canon Laser Shot LBP-2900B Printer. Dimensions 37 cm x 21.7 cm x 25.1 cm

Price: 2,750 baht

64

Speaker

SONY SRS-M30/WQ SP5

Price: 1,490 baht

4.1.7.2 Other:

Books / Magazines

GTR Magazine: 70 Baht/ Book

TV Pool Magazine: 25 Baht/ Book

Seventeen Magazines: 90 Baht/Book

Spicy Magazing: 25 Baht/Book

65

4.1.8 Facility Management

4.1.8.1 Electricity: Normal Value

Electric

(Baht/Unit)

Service

(Baht

/ Month)

1.1.1 Using electricity lower than 150 units/month 8.19

First 5 Units (Unit 0 - 5) 0

Next 10 Units (Unit 6 - 15) 1.3576

Next 10 Units (Unit 16 – 25) 1.5445

Next 10 Units (Unit 26 – 35) 1.7968

Next 65 Units (Unit 36 - 100) 2.1800

Next 50 Units (Unit 101 - 150) 2.2734

Next 250 Units (Unit 151 - 400) 2.7781

More than 400 Units (Unit 401-XXX) 2.9780

1.1.2 Using electricity more than 150 units/month 40.90

First 150 units (Unit 0 - 150) 1.8047

Next 250 units (Unit 151 - 400) 2.7781

More than 400 units (Unit 401- XXX) 2.9780

4.1.8.2 Advertisement’s Tax

4.1.8.2.1 A board which contain all of Thai language; 3 baht/500cm2

4.1.8.2.2 A board which contain both Thai and English, images or any

signs; 20 baht / 500 cm2

4.1.8.2.3 For these boards; 40 baht / 500 cm2

4.1.8.2.3.1 A board with no Thai language

4.1.8.2.3.2 A board with a few Thai language, and place under or lower

than other language

4.1.8.2.4 For any boards that paid already, you must pay more than the

normal cost, if you fix a board which make a rate of tax paying change; following

[1],[2] and [3].

4.1.8.2.5 The lowest cost of any board is 200 baht.

66

4.2 Cost of Investment

4.2.1 Rent

4.2.1.1 Rental Rate

Rental Fee baht 270/sq.m. Service Charge Baht 120/sq.m. Rental Exemption 4

Months (Holidays): March, April, May and October. According to the plan Zdravo

siam will be placed at room number 41 with the rental fee of 270 Bath / Sq.m. Plus

the service charge for 120 Bath /Sq.m. so the total rent cost per Sq.m. are 390 Bath

/Sq.m. Room number 41 will consists of 54.85 Sq.m. so the total rent for one month

are 390 x 54.85 = 21,391 baht per month, Thus For the whole year of rental cost are

21,391 x 12 = 256,692 but there are an exemption for 4 months on March , April ,

May and October so the total of rental cost will be deduction to 256,692 – (21391 x 4)

= 171,128 baht per year.

4.2.2 Total Pre operation cost

Pre-operation cost Total price

Forward Rental(3month) 64,173

Permission to produce food 800

Sacia Tax 385

Total 65,358

4.3 Investment Cost

Equipment 347,090

Decoration 500,000

Total 847,090

67

4.3.1 Register’s Price.

4.3.1.1 Business Establishment Steps

4.3.1.1.1 Reserve the name of a business.

4.3.1.1.2 Register [Start by a normal people’s income tax]

4.3.1.1.3 Making an appointment for establish a business.

4.3.1.1.4 Establish a business.

4.3.1.1.5 Making a tax payer’s card.

4.3.1.1.6 Register for paying VAT.

4.3.1.2 Certificates for establish a business.

4.3.1.2.1 Business’s name.

4.3.1.2.2 Register’s cost.

4.3.1.2.3 Three copies of census [place for establish a business]

4.3.1.2.4 Objectives for establishes a business.

4.3.1.2.5 Number of committee member in a business, including a power

of each person.

4.3.1.2.6 Business’s Logo.

4.3.1.2.7 For establisher, it requires 1 copy of census and ID card. For

committee members need 4 copies as the same.

4.3.1.2.8 For a VAT. Register, it requires

4.3.1.2.8.1 A census and ID card from any people who are establisher

and committee members.

4.3.1.2.8.2 Pictures and Map of a place of business.

4.3.2 A Fee for establishes a business [Co., ltd.]

Commercial Registration According to Commercial Registration Act B.E.2499

Location of Registration

Department of Business Development

- Central Business Registration Division / Office of Business Registration Service

1 -7 provides the service for commercial registration of persons who conduct the

commercial businesses as specified by the Minister for the duties of the Department of

Business Development located in Bangkok

- Provincial Business Development Office provides the service for commercial

68

registration of persons who conduct the commercial businesses as specified by the

Minister for the duties of the Department of Business Development located in any

provinces

Period of Time for Commercial Registration

The registration of new commercial businesses must be within 30 days from the

starting date of business

Registration for new commercial business as follows:

1. Registration requisition (Print – out 2 pages)

2. Collateral evidence:

2.1 Copy ID card of person who conducts commercial businesses or partner’s

manager responsible progress doing business in Thailand

2.2 Power of Attorney with duty stamps (In case of Power of Attorney)

Commercial Registration Fee

The request for performing according to the Commercial Registration Act shall

pay the fee according to the type as follows:

(1) New commercial registration of 50 Baht

(2) Request for issuance of replacing license of 30 Baht per copy

(3) Request for verifying the documents of person who conducts commercial

businesses for 20 Baht per time

(4) Request for the officer to copy and certify the copy of document for 30 Baht

per copy

Total of Commercial Registration Fee 150 Baht

Company Limited Registration According to the Civil and Commercial Code

Establishment of Company Limited

To establish the company limited, shall process according to the following:

first must have at least 3 persons signing together in order to prepare Memorandum

and then register. Upon receiving the amount of shares, the director must register as

the company within 3 months from the date of company’s meeting to establish the

company.

69

Information used to register the Memorandum

(1) Company’s name

(2) Location of head office

(3) Objective of the company

(4) Registered capital must be divided into each share with the same value

(5) Name, address, age, occupation and number of shares that persons who

start up the company reserve to buy the shares)

(6) Name, address, age

Registration Procedure

Submit in person can perform according to the following :

(1) In case of registering for the establishment or changing the company’s

name, the persons who start up the company or company’s director shall request for

verifying and reserving the company’s name to confide that such name is not

duplicated or similar to other names pervious registered. Upon reserving the name,

shall request for the registration of memorandum of association within 30 days by

reserving the name in person or via internet at www.dbd.go.th .

(2) Purchase the request and form from the Department of Business

Development or any of 7 business development office or provincial business

development office or download from internet from www.dbd.go.th .

(3) Prepare the request for registration and other attachments to the registrar

for consideration.

(4) Pay the fee according to the officer’s order

(5) If aiming to issue the certificate of registered transactions, shall submit the

request and pay the fee to the officers.

(6) Receive the certificate of registration.

Duties of Company

(1) The company limited must prepare the financial statement once a month in

every 12 months and at least one auditor shall audit to propose to the ordinary

shareholder’s meeting to approve the financial statement within 4 months from the

closing date, and submit the financial statement to the business information service

office, department of business development, or any provincial business development

70

office within 1 month from the date of financial statement’s approval although such

businesses have not yet been started or have not ceased temporarily; otherwise, they

shall have the fine penalty of no more than 50,000 Baht.

(2) The director shall prepare the copy of list of all shareholders’ names that are

holding the share at the time of the annual shareholders’ meeting and the list of

persons who are not the shareholders from the date of the last shareholders’ meeting

and submit to the department of business development or any provincial business

development office within 14 days from the date of the meeting; otherwise, they shall

have the fine penalty of no more than 10,000 Baht.

(3) Must arrange the annual shareholders’ meeting within 6 months from the

juristic person’s registration date, and arrange the next meeting of at least one time for

every 12 months; otherwise, they shall have the fine penalty of no more than 20,000

Baht.

The invitation for the shareholders’ meeting shall be advertised on the local

newspaper for at least one time of at least 7 days before the meeting date, and shall

send via reply mail to every shareholder named in the company’s registration for at

least 7 days before the meeting date, except the invitation for the shareholders’

meeting to vote for the extraordinary resolution shall be sent for at least 14 days

before the meeting date.

(4) Must prepare share certificate to the company’s shareholders; otherwise, they

shall have the fine penalty of no more than 10,000 Baht.

(5) Must prepare the book of shareholders’ registration of the company; otherwise,

they shall have the fine penalty of no more than 20,000 Baht.

(6) Any companies that relocate the location of head office must request for the

registration to the registrar; otherwise, they shall have the fine penalty of no more than

20,000 Baht.

For a register’s cost [1 million baht], it can divide to,

- A normal people’s income tax 500 baht

- Business Establishment Cost 5,000 baht

- Tax and Transcript cost 500 baht

Total [Fee cost] around 6,000 baht

71

4.3.3 Depreciation

Year1 January February March April May June July August SeptemberOctober November December Total

Ice cream maker 2500 2500 2500 2500 2500 2500 2500 2500 2500 2500 2500 2500 30000

Ice cream freezer 1508 1508 1508 1508 1508 1508 1508 1508 1508 1508 1508 1508 18096

Ice freezer display 767 767 767 767 767 767 767 767 767 767 767 767 9200

cash registration 583 583 583 583 583 583 583 583 583 583 583 583 7000

Total 5358 5358 5358 5358 5358 5358 5358 5358 5358 5358 5358 5358 64296


Ice cream maker 2500 2500 2500 2500 2500 2500 2500 2500 2500 2500 2500 2500 30000




Total 5358 5358 5358 5358 5358 5358 5358 5358 5358 5358 5358 5358 64296


Ice cream maker 2500 2500 2500 2500 2500 2500 2500 2500 2500 2500 2500 2500 30000




Total 5358 5358 5358 5358 5358 5358 5358 5358 5358 5358 5358 5358 64296


Ice cream maker 2500 2500 2500 2500 2500 2500 2500 2500 2500 2500 2500 2500 30000




Total 5358 5358 5358 5358 5358 5358 5358 5358 5358 5358 5358 5358 64296


Ice cream maker 2500 2500 2500 2500 2500 2500 2500 2500 2500 2500 2500 2500 30000




Total 5358 5358 5358 5358 5358 5358 5358 5358 5358 5358 5358 5358 64296

72

4.4 Operating Cost

4.4.1 Raw material Cost

Fruits

Banana

Price: 190 baht / kg

Orange

Price: 24.50 baht / kg

Lynchee

Price: 80 baht / kg

Strawberry

Price: 145 baht / kg

73

White malt

Price: 98 baht

Sugar

Price: 24 baht per kg.

Whole milk power 500 g.

Price: 102 baht

Rum 30 g.

Price: 60 baht

Whip cream 500 g.

Price: 230 baht

74

Guar Gum 1,000 g.

Price: 440 baht

Raisin


Pumpkin


Almond flavor power 1,000 g.

Price: 350 baht

75

Peppermint flavor power 1,000 g.

Price: 350 baht

Green tea power 500 g.

Price: 280 baht

Milk tea power 500 g.

Price 120 baht

Egg

Price: 3.20 baht per egg

76

Pineapple Juice 1,000 ml.

Price: 420 baht per dozen

Vanilla flavor 30 g.

Price: 60 baht

Chocolate flavor

Price: 60 baht

Salt


Whipping Cream Bottle 1 Liter

Price: 2000 Baht

77

“CHANTYPAK” Whipping Cream

Price 150 Baht/ Box

Gas (use with whipping cream bottom)

Price: 1,700 per ten bottoms

Topping (Chocolate, Butterscotch, Caramel, Pineapple, Blueberry, Strawberry)

Weight 600 g.

Price: 65 baht per bottom

Fresh Milk

Price: 82 baht per dozen

78

4.4.2Overhead

4.5 Management Analysis

4.5.1 Administration Cost

4.5.1.1 Employee salary

Our company hires three sale persons in our shop. Each person

receives salary 10,000 baht per month.

4.6 Conclusion

Zdravo siam will be located at ABAC Plaza in ABAC University. And we will

Our ice cream shop invest as the following.

Total cost of raw material and equipment

No. Descript No. Product Price/Unit Total

1 Ice cream maker 1 150,000 150,000

2 Ice cream freezer 1 46,000 46,000

3 Ice cream scoop 3 450 1,350

4 Ice cream’s tray 24 580 13,920

5 Fruit’s tray 6 480 2,880

6 Cash Register 1 35,000 35,000

7 Blackboard 1 550 550

8 Spoon 40 173 6,920

9 Tray 5 48 240

10 Water glass 50 75 3,750

11 Glass 30 55 1,650

12 Sunday glass 2 675 1,350

13 Basin 2 59 118

14 Cooler 1 1,800 1,800

15 Book magazine 8 50 400

16 Telephone 1 990 990

17 Pen 12 4.25 51

18 Napkin 6 130 780

19 Order 100 25 2,500

MFG Over head Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total

Electricity 800 800 800 800 800 800 800 800 800 800 800 800 9,600

Water 200 200 200 200 200 200 200 200 200 200 200 200 2,400

depreciation on the factory equipment 3,267 3,267 3,267 3,267 3,267 3,267 3,267 3,267 3,267 3,267 3,267 3,267 39,200

Total MFG over head 4,267 4,267 4,267 4,267 4,267 4,267 4,267 4,267 4,267 4,267 4,267 4,267 51,200

79

20 Tissue Paper 12 748 8,976

21 Dishwashing liquid 1 27 27

22 Scotch Brite 2 12 24

23 Banana 5 190 950

24 Orange 5 24.5 122.5

25 Lynches 5 80 400

26 Strawberry 5 145 725

27 White malt 5 98 490

28 Sugar 5 24 120

29 Whole milk 5 102 510

30 Rum 6 60 360

31 Whip cream 6 230 1,380

32 Guar Gum 6 440 2,640

33 Raisin 6 230 1,380

34 Pumpkin 6 12 72

35 Almond 6 350 2,100

36 Green tea flavor 6 280 1,680

37 Milk tea flavor 6 120 720

38 Egg 60 3.20 192

39 Pineapple Juice 1 420 420

40 Vanilla 6 60 360

41 Chocolate 6 60 360

42 salt 1 10 10

43 Whipping Cream Bottom 1 2,000 2,000

44 Whipping Cream 3 150 450

45 Gas 10 170 1,700

46 Topping 6 65 390

47 Fresh Milk 1 82 82

48 Computer 1 13,800 13,800

49 Printer 1 2,750 2,750

50 Speaker 1 1,490 1,490

Total 495 316,930

So the total amount of investment will be equal 816,930+65,385 =882,315 but we will

loan the money from the investor for 900,000

80

Chapter 5

Financial Analysis

81

Year1 January February March April May June July August September October November December

Revenue

Sale 62,370 72,765 31,185 20,790 20,790 103,950 83,160 103,950 124,740 145,530 135,135 135,135

Total Revenue 62,370 72,765 31,185 20,790 20,790 103,950 83,160 103,950 124,740 145,530 135,135 135,135

Cost of goods Sold

Direct Material 10 10 10 10 10 10 10 10 10 10 10 10

Direct Labor 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000

MFG overhead 3,817 3,817 3,817 3,817 3,817 3,817 3,817 3,817 3,817 3,817 3,817 3,817

Total cost of Goods sold 9,827 9,827 9,827 9,827 9,827 9,827 9,827 9,827 9,827 9,827 9,827 9,827

Gross income 52,543 62,938 21,358 10,963 10,963 94,123 73,333 94,123 114,913 135,703 125,308 125,308

Operating Expense

Marketing expense 792 734 666 524 624 860 876 860 1,044 1,028 1,086 986

Rent 21,391 21,391 - - - 21,391 21,391 21,391 21,391 - 21,391 21,391

Depreciation 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350

Selling&Adminstration 30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000

Total Operating Expense 53,533 53,475 32,016 31,874 31,974 53,601 53,617 53,601 53,785 32,378 53,827 53,727

Net income before interest & Tax 990- 9,463 10,658- 20,911- 21,011- 40,522 19,716 40,522 61,128 103,325 71,481 71,581

Operating income(loss)

Other income(expense) - - - - - - - - - - - -

Interest expense 11,250 11,123 10,994 10,864 10,732 10,599 10,464 10,327 10,188 10,048 9,906 9,762

Total Operating income 11,250 11,123 10,994 10,864 10,732 10,599 10,464 10,327 10,188 10,048 9,906 9,762

Income (Loss) Before Taxes 12,240- 1,660- 21,652- 31,775- 31,743- 29,923 9,253 30,195 50,940 93,277 61,575 61,819

Provision (Benefit) for income taxes 8,977 9,059 15,282 27,983 18,473 18,546

Net income (Loss) for the year 12,240- 1,660- 21,652- 31,775- 31,743- 20,946 9,253 21,137 35,658 65,294 43,103 43,273

Retained Earning beginning of the months - 12,240- 13,899- 35,551- 67,326- 99,069- 78,123- 68,870- 47,733- 12,075- 53,219 96,321

Retained Earnings 12,240- 13,899- 35,551- 67,326- 99,069- 78,123- 68,870- 47,733- 12,075- 53,219 96,321 139,595

Chapter 5

5.1 Profit and loss statement

82


Revenue

Sale 164,052 197,535 119,007 100,680 85,175 167,163 201,281 242,362 291,829 351,391 423,110 509,466

Total Revenue 164,052 197,535 119,007 100,680 85,175 167,163 201,281 242,362 291,829 351,391 423,110 509,466

Cost of goods Sold

Material 10 10 10 10 10 10 10 10 10 10 10 10

Labor 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000

MFG overhead 4,237 4,237 4,237 4,237 4,237 4,237 4,237 4,237 4,237 4,237 4,237 4,237


Gross income 153,805 187,288 108,760 90,433 74,929 156,916 191,034 232,116 281,582 341,144 412,863 499,220

Operating Expense

Marketing expense 1,100 1,140 750 580 750 860 1,240 1,420 1,590 930 1,170 1,350

Rent 21,391 21,391 - - - 21,391 21,391 21,391 21,391 - 21,391 21,391

Depreciation 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350



Net income before operation 99,964 133,407 76,660 58,503 42,829 103,315 137,053 177,955 227,251 308,864 358,952 445,129





Income (Loss) Before Taxes 88,714 122,284 65,666 47,639 32,096 92,716 126,590 167,628 217,063 298,816 349,046 435,367

Provision (Benefit) for income taxes 26,614 36,685 19,700 14,292 9,629 27,815 37,977 50,288 65,119 89,645 104,714 130,610

Net income (Loss) for the year 62,100 85,599 45,966 33,347 22,467 64,902 88,613 117,340 151,944 209,171 244,332 304,757

Retained Earning beginning of the months 139,595 201,695 287,294 333,260 366,607 389,075 453,976 542,589 659,928 811,872 1,021,044 1,265,376

Retained Earnings 201,695 287,294 333,260 366,607 389,075 453,976 542,589 659,928 811,872 1,021,044 1,265,376 1,570,132

83


Revenue

Sale 152,460 133,403 57,173 38,115 38,115 209,633 190,575 190,575 190,575 228,690 247,748 228,690

Total Revenue 152,460 133,403 57,173 38,115 38,115 209,633 190,575 190,575 190,575 228,690 247,748 228,690

Cost of goods Sold

Material 10 10 10 10 10 10 10 10 10 10 10 10

Labor 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000

MFG overhead 4,257 4,257 4,257 4,257 4,257 4,257 4,257 4,257 4,257 4,257 4,257 4,257


Gross income 142,193 123,136 46,906 27,848 27,848 199,366 180,308 180,308 180,308 218,423 237,481 218,423

Operating Expense

Marketing expense 1,156 979 771 594 694 1,287 1,310 1,210 1,310 1,364 1,541 1,364

Rent 21,391 21,391 - - - 21,391 21,391 21,391 21,391 - 21,391 21,391

Depreciation 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350



Net income before operation 88,296 69,416 14,785 4,096- 4,196- 145,338 126,257 126,357 126,257 185,709 183,199 164,318





Income (Loss) Before Taxes 77,046 58,293 3,790 14,960- 14,928- 134,739 115,794 116,030 116,069 175,661 173,293 154,556

Provision (Benefit) for income taxes 23,114 17,488 40,422 34,738 34,809 34,821 52,698 51,988 46,367

Net income (Loss) for the year 53,932 40,805 3,790 14,960- 14,928- 94,317 81,056 81,221 81,248 122,963 121,305 108,189

Retained Earning beginning of the months1,570,132 1,624,065 1,664,870 1,668,660 1,653,700 1,638,772 1,733,090 1,814,145 1,895,366 1,976,615 2,099,578 2,220,883

Retained Earnings 1,624,065 1,664,870 1,668,660 1,653,700 1,638,772 1,733,090 1,814,145 1,895,366 1,976,615 2,099,578 2,220,883 2,329,072

84


Revenue

Sale 110,880 138,600 41,580 27,720 41,580 124,740 194,040 166,320 138,600 110,880 138,600 152,460

Total Revenue 110,880 138,600 41,580 27,720 41,580 124,740 194,040 166,320 138,600 110,880 138,600 152,460

Cost of goods Sold

Material 10 10 10 10 10 10 10 10 10 10 10 10

Labor 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000

MFG overhead 4,177 4,177 4,177 4,177 4,177 4,177 4,177 4,177 4,177 4,177 4,177 4,177


Gross income 100,693 128,413 31,393 17,533 31,393 114,553 183,853 156,133 128,413 100,693 128,413 142,273

Operating Expense

Marketing expense 988 1,000 708 552 708 944 1,324 1,112 1,100 888 1,100 1,056

Rent 21,391 21,391 - - - 21,391 21,391 21,391 21,391 - 21,391 21,391

Depreciation 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350



Net income before operation 46,964 74,672 665- 14,369- 665- 60,868 129,788 102,280 74,572 68,455 74,572 88,476





Income (Loss) Before Taxes 35,714 63,549 11,659- 25,233- 11,397- 50,269 119,325 91,953 64,384 58,407 64,666 78,714


Net income (Loss) for the year 25,000 44,485 11,659- 25,233- 11,397- 35,189 83,527 64,367 45,069 40,885 45,266 55,100



85


Revenue

Sale 173,250 138,600 51,975 34,650 34,650 242,550 207,900 138,600 173,250 173,250 190,575 173,250

Total Revenue 173,250 138,600 51,975 34,650 34,650 242,550 207,900 138,600 173,250 173,250 190,575 173,250

Cost of goods Sold

Material 10 10 10 10 10 10 10 10 10 10 10 10

Labor 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000

MFG overhead 4,237 4,237 4,237 4,237 4,237 4,237 4,237 4,237 4,237 4,237 4,237 4,237


Gross income 163,003 128,353 41,728 24,403 24,403 232,303 197,653 128,353 163,003 163,003 180,328 163,003

Operating Expense

Marketing expense 1,240 1,000 750 580 680 1,420 1,380 1,000 1,240 1,140 1,310 1,140

Rent 21,391 21,391 - - - 21,391 21,391 21,391 21,391 - 21,391 21,391

Depreciation 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350













86

Operating Cash Flow Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Net Income after Tax - 12,240 - 1,660 - 21,652 - 31,775 - 31,743 20,946 9,253 21,137 35,658 65,294 43,103 43,273+ Depreciation and amortization 5,358 5,358 5,358 5,358 5,358 5,358 5,358 5,358 5,358 5,358 5,358 5,358

+/- Decrease (Increase) in Accounts Receivable+/- Decrease (Increase) in Inventory - 26,220 - 3,432 - 15,312 - 18,282 - 18,282 5,478 - 462 5,478 11,418 17,358 14,388 14,388

+/- Decrease (Increase) in Other Current Assets - - - - - - - - - - - -

+/- Increase (decrease) in Accounts Payable - - - - - - - - - - - - +/- Increase (decrease) in Accrued Expenses - - - - - 8,977 8,977- 9,059 6,224 12,701 9,511- 73 +/- Increase (decrease) in interest paid

Total Operating Cash Flow - 33,102 266 - 31,606 - 44,699 - 44,667 40,759 5,172 41,031 58,658 100,711 53,338 63,093

Investing Cash Flow

+/- Decrease (Increase) in Fixed Assets - 261,160 - - - - - - - - - - -

+/- Decrease (Increase) in Notes Receivable - - - - - - - - - - - - +/- Decrease (Increase) in securities, investments - - - - - - - - - - - - +/- Decrease (Increase) intangible, noncurrent - - - - - - - - - - - -

Total Investing Cash Flow - 261,160 - - - - - - - - - - -

Financing Cash Flow

+/- Increase (decrease) in Borrowings 900,000 - - - - - - - - - - -

Payment in principal - 10,161 - 10,288 - 10,417 - 10,547 - 10,679 - 10,812 - 10,947 - 11,084 - 11,223 - 11,363 - 11,505 - 11,649

- Dividends Paid

Total Financing Cash Flow 889,839 - 10,288 - 10,417 - 10,547 - 10,679 - 10,812 - 10,947 - 11,084 - 11,223 - 11,363 - 11,505 - 11,649

Total Cash Flow 595,577 - 10,022 - 42,023 - 55,246 - 55,346 29,947 - 5,776 29,947 47,435 89,348 41,833 51,444

Cash at beginning of period - 595,577 585,556 543,533 488,288 432,942 462,889 457,114 487,061 534,496 623,844 665,677

Cash at end of period 595,577 585,556 543,533 488,288 432,942 462,889 457,114 487,061 534,496 623,844 665,677 717,121

Y1

5.2Cash flow statement

87


Net Income after Tax 62,100 85,599 45,966 33,347 22,467 64,902 88,613 117,340 151,944 209,171 244,332 304,757

+ Depreciation and amortization 5,358 5,358 5,358 5,358 5,358 5,358 5,358 5,358 5,358 5,358 5,358 5,358

+/- Decrease (Increase) in Accounts Receivable - - - - - - - - - - - -

+/- Decrease (Increase) in Inventory - 14,915 8,915 26,003- 30,173- 24,318- 8,738- 11,324 30,784 34,811 5,833- 4,242 23,914


+/- Increase (decrease) in Accounts Payable - - - - - - - - - - - -

+/- Increase (decrease) in Accrued Expenses 8,069 10,071 16,986- 5,408- 4,663- 18,186 10,162 12,311 14,830 24,526 15,069 25,896

+/- Increase (decrease) in Other Current Liabilities - - - - - - - - - - - - Total Operating Cash Flow 60,612 109,943 8,336 3,125 1,155- 79,708 115,457 165,793 206,943 233,222 269,001 359,925

Investing Cash Flow

+/- Decrease (Increase) in Fixed Assets - - - - - - - - - - - -

+/- Decrease (Increase) in Notes Receivable - - - - - - - - - - - -

+/- Decrease (Increase) in securities, investments - - - - - - - - - - - -

+/- Decrease (Increase) intangible, noncurrent

assets - - - - - - - - - - - -

Total Investing Cash Flow - - - - - - - - - - - -

Financing Cash Flow

+/- Increase (decrease) in Borrowings - - - - - - - - - - - -


- Dividends Paid - - - - - - - - - - - - Total Financing Cash Flow - 11,794 - 11,942 - 12,091 - 12,242 - 12,395 - 12,550 - 12,707 - 12,866 - 13,027 - 13,190 - 13,354 - 13,521

Total Cash Flow 48,817 98,001 - 3,755 - 9,118 - 13,550 67,157 102,750 152,928 193,916 220,032 255,646 346,404

Cash at beginning of period 717,121 765,939 863,940 860,184 851,067 837,517 904,674 1,007,424 1,160,351 1,354,268 1,574,300 1,829,947 Cash at end of period 765,939 863,940 860,184 851,067 837,517 904,674 1,007,424 1,160,351 1,354,268 1,574,300 1,829,947 2,176,350

Y2

88


Net Income before Tax 53,932 40,805 3,790 - 14,960 - 14,928 94,317 81,056 81,221 81,248 122,963 121,305 108,189



+/- Decrease (Increase) in Inventory - 32,424 4,630- 26,363- 31,545- 31,229- 18,088 12,462 12,338 12,214 22,982 28,197 22,470



+/- Increase (decrease) in Accrued Expenses - 107,496 5,626- 17,488- - - 40,422 5,684- 71 12 17,878 711- 5,621-

+/- Increase (decrease) in Other Current Liabilities - - - - - - - - - - - - Total Operating Cash Flow - 80,630 35,907 - 34,703 - 41,147 - 40,799 158,185 93,192 98,988 98,832 169,181 154,150 130,397

Investing Cash Flow





assets - - - - - - - - - - - -


Financing Cash Flow




Total Cash Flow - 94,320 22,046 - 48,738 - 55,357 - 55,187 143,617 78,442 84,054 83,711 153,871 138,648 114,702

Cash at beginning of period 2,176,350 2,082,030 2,104,076 2,055,338 1,999,982 1,944,795 2,088,412 2,166,854 2,250,908 2,334,619 2,488,490 2,627,138 Cash at end of period 2,082,030 2,104,076 2,055,338 1,999,982 1,944,795 2,088,412 2,166,854 2,250,908 2,334,619 2,488,490 2,627,138 2,741,840

Y3

89


Net Income before Tax 25,000 44,485 - 11,659 - 25,233 - 11,397 35,189 83,527 64,367 45,069 40,885 45,266 55,100



+/- Decrease (Increase) in Inventory - 4,168 4,128 23,964- 25,767- 19,488- 6,026 25,283 15,088 5,810 2,633- 5,524 8,987



+/- Increase (decrease) in Accrued Expenses - 35,653 8,351 19,065- - - 15,081 20,717 8,211- 8,271- 1,793- 1,878 4,214

+/- Increase (decrease) in Other Current Liabilities - - - - - - - - - - - - Total Operating Cash Flow - 9,462 62,321 - 49,330 - 45,642 - 25,527 61,653 134,885 76,602 47,966 41,817 58,026 73,659

Investing Cash Flow





assets - - - - - - - - - - - -


Financing Cash Flow




Total Cash Flow - 25,353 46,231 - 65,621 - 62,137 - 42,228 44,744 117,764 59,267 30,414 24,046 40,033 55,441


Y4

90


Net Income before Tax 68,441 44,443 - 1,366 - 18,391 - 18,359 117,280 93,148 45,000 69,184 84,326 81,460 69,552



+/- Decrease (Increase) in Inventory 8,425 1,727- 26,426- 30,583- 29,665- 30,625 19,806 588- 9,329 9,049 13,728 8,366



+/- Increase (decrease) in Accrued Expenses 5,717 10,285- 19,047- - - 50,263 10,342- 20,635- 10,365 6,489 1,228- 5,103-

+/- Increase (decrease) in Other Current Liabilities - - - - - - - - - - - - Total Operating Cash Flow 87,941 37,788 - 41,480 - 43,616 - 42,666 203,526 107,969 29,135 94,236 105,223 99,318 78,173

Investing Cash Flow





assets - - - - - - - - - - - -


Financing Cash Flow

+/- Increase (decrease) in Borrowings - - - - - - - - - - -



Total Cash Flow 69,496 19,112 - 60,390 - 62,762 - 62,052 183,898 88,096 9,013 73,863 84,595 78,432 57,026


Y5

91

Y1 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

ASSET

Curent Assets

Cash 595,577 585556 543,533 488,288 432,942 462,889 457,114 487,061 534,496 623,844 665,677 717,121

Account Receivable - - - - - - - - - - - -

Inventories (Ending Inventory) 26,220 29652 44,964 63,246 81,528 76,050 76,512 71,034 59,616 42,258 27,870 13,482

Total Current Assets 621,797 615208 588,497 551,534 514,470 538,939 533,626 558,095 594,112 666,102 693,547 730,603

Non Current Assets

Property and Equipment

Machinery and Equipment 261,160 261160 261,160 261,160 261,160 261,160 261,160 261,160 261,160 261,160 261,160 261,160

Total Property and Equipment - 0 - - - - - - - - - -

Less: Accumulated Depreciation 5,358 10716 16,074 21,432 26,790 32,148 37,506 42,864 48,222 53,580 58,938 64,296

Total non current asset 255,802 250444 245,086 239,728 234,370 229,012 223,654 218,296 212,938 207,580 202,222 196,864

TOTAL ASSETS 877,599 865652 833,583 791,262 748,840 767,951 757,280 776,391 807,050 873,682 895,769 927,467

LIABILITY AND EQUITY

LIABILITY

Current Liability

Accounts Payable - - - - - - - - - - - -

Wages Payable - - - - - - - - - - - -

Taxes Payable - - - - - 8,977 - 9,059 15,282 27,983 18,473 18,546

Total Current Liabilities - - - - - 8,977 - 9,059 15,282 27,983 18,473 18,546

Non Current Liability - - - - - - - - - - - -

Long-Term Liability

Long Term Debt 889,839 879,551 869,135 858,588 847,909 837,097 826,150 815,066 803,843 792,480 780,975 769,327

Total Long-term Liability 889,839 879551 869,135 858,588 847,909 837,097 826,150 815,066 803,843 792,480 780,975 769,327

Total Liabilities 889,839 879551 869,135 858,588 847,909 846,074 826,150 824,125 819,125 820,464 799,448 787,872

EQUITY

Capital (asstet-liability) - - - - - - - - - - - -

Retaines Earnings 12,240- -13899 35,551- 67,326- 99,069- 78,123- 68,870- 47,733- 12,075- 53,219 96,321 139,595

Total Equity 12,240- -13899 35,551- 67,326- 99,069- 78,123- 68,870- 47,733- 12,075- 53,219 96,321 139,595

Total liabilities & Equity 877,599 865652 833,583 791,262 748,840 767,951 757,280 776,391 807,050 873,682 895,769 927,467

5.3 Balance sheet

92


ASSET

Curent Assets

Cash 765,939 863,940 860,184 851,067 837,517 904,674 1,007,424 1,160,351 1,354,268 1,574,300 1,829,947 2,176,350


Inventories (Ending Inventory) 28,397 19,482 45,485 75,658 99,975 108,713 97,389 66,604 31,794 37,627 33,385 9,471

Total Current Assets 794,336 883,422 905,669 926,724 937,492 1,013,387 1,104,813 1,226,956 1,386,061 1,611,927 1,863,332 2,185,821

Non Current Assets


Machinery and Equipment 261,160 261,160 261,160 261,160 261,160 261,160 261,160 261,160 261,160 261,160 261,160 261,160

Total Property and Equipment - - - - - - - - - - - -

Less: Accumulated Depreciation 69,654 75,012 80,370 85,728 91,086 96,444 101,802 107,160 112,518 117,876 123,234 128,592

Total non current asset 191,506 186,148 180,790 175,432 170,074 164,716 159,358 154,000 148,642 143,284 137,926 132,568

TOTAL ASSETS 985,842 1,069,570 1,086,459 1,102,156 1,107,566 1,178,103 1,264,171 1,380,956 1,534,703 1,755,211 2,001,258 2,318,389


LIABILITY

Current Liability


Wages Payable - - - - - - - - - - - -

Taxes Payable 26,614 36,685 19,700 14,292 9,629 27,815 37,977 50,288 65,119 89,645 104,714 130,610

Total Current Liabilities 26,614 36,685 19,700 14,292 9,629 27,815 37,977 50,288 65,119 89,645 104,714 130,610

Non Current Liability

Long-Term Liability

Long Term Debt 757,532 745,591 733,499 721,257 708,862 696,312 683,605 670,739 657,712 644,523 631,168 617,647

Total Long-term Liability 757,532 745,591 733,499 721,257 708,862 696,312 683,605 670,739 657,712 644,523 631,168 617,647

Total Liabilities 784,147 782,276 753,199 735,549 718,491 724,127 721,582 721,027 722,831 734,168 735,882 748,257

EQUITY


Retaines Earnings 201,695 287,294 333,260 366,607 389,075 453,976 542,589 659,928 811,872 1,021,044 1,265,376 1,570,132

Total Equity 201,695 287,294 333,260 366,607 389,075 453,976 542,589 659,928 811,872 1,021,044 1,265,376 1,570,132

Total liabilities & Equity 985,842 1,069,570 1,086,459 1,102,156 1,107,566 1,178,103 1,264,171 1,380,956 1,534,703 1,755,211 2,001,258 2,318,389

93


ASSET

Curent Assets

Cash 2,082,030 2,104,076 2,055,338 1,999,982 1,944,795 2,088,412 2,166,854 2,250,908 2,334,619 2,488,490 2,627,138 2,741,840



Total Current Assets 2,123,925 2,150,601 2,128,227 2,104,415 2,080,457 2,205,986 2,271,966 2,343,683 2,415,180 2,546,068 2,656,520 2,748,751

Non Current Assets






TOTAL ASSETS 2,251,135 2,272,453 2,244,721 2,215,551 2,186,235 2,306,406 2,367,028 2,433,387 2,499,526 2,625,056 2,730,150 2,817,023


LIABILITY

Current Liability


Wages Payable - - - - - - - - - - - -

Taxes Payable 23,114 17,488 - - - 40,422 34,738 34,809 34,821 52,698 51,988 46,367

Total Current Liabilities 23,114 17,488 - - - 40,422 34,738 34,809 34,821 52,698 51,988 46,367


Long-Term Liability

Long Term Debt 603,957 590,095 576,060 561,850 547,462 532,895 518,145 503,211 488,090 472,780 457,279 441,584



EQUITY


Retaines Earnings 1,624,065 1,664,870 1,668,660 1,653,700 1,638,772 1,733,090 1,814,145 1,895,366 1,976,615 2,099,578 2,220,883 2,329,072

Total Equity 1,624,065 1,664,870 1,668,660 1,653,700 1,638,772 1,733,090 1,814,145 1,895,366 1,976,615 2,099,578 2,220,883 2,329,072

Total liabilities & Equity 2,251,135 2,272,453 2,244,721 2,215,551 2,186,235 2,306,406 2,367,028 2,433,387 2,499,526 2,625,056 2,730,150 2,817,023

94


ASSET

Curent Assets

Cash 2,716,487 2,762,718 2,697,097 2,634,960 2,592,733 2,637,476 2,755,241 2,814,508 2,844,922 2,868,969 2,909,002 2,964,443




Non Current Assets






TOTAL ASSETS 2,790,479 2,827,225 2,780,210 2,738,482 2,710,385 2,743,745 2,830,868 2,869,689 2,888,935 2,910,257 2,939,408 2,980,504


LIABILITY

Current Liability


Wages Payable - - - - - - - - - - - -

Taxes Payable 10,714 19,065 - - - 15,081 35,797 27,586 19,315 17,522 19,400 23,614



Long-Term Liability

Long Term Debt 425,693 409,603 393,312 376,818 360,117 343,208 326,087 308,752 291,200 273,430 255,436 237,218



EQUITY



Total Equity 2,354,072 2,398,557 2,386,897 2,361,665 2,350,268 2,385,456 2,468,983 2,533,351 2,578,420 2,619,305 2,664,571 2,719,671


95


ASSET

Curent Assets

Cash 3,033,939 3,053,051 2,992,660 2,929,899 2,867,847 3,051,745 3,139,841 3,148,855 3,222,717 3,307,312 3,385,744 3,442,770




Non Current Assets





Total non current asset 1,382- 6,740- 12,098- 17,456- 22,814- 28,172- 33,530- 38,888- 44,246- 49,604- 54,962- 60,320-

TOTAL ASSETS 3,036,216 3,051,698 3,012,375 2,974,838 2,937,094 3,085,009 3,147,942 3,152,185 3,211,361 3,281,548 3,340,894 3,384,196


LIABILITY

Current Liability


Wages Payable - - - - - - - - - - - -

Taxes Payable 29,332 19,047 - - - 50,263 39,921 19,286 29,650 36,140 34,911 29,808



Long-Term Liability

Long Term Debt 218,773 200,096 181,187 162,041 142,655 123,027 103,154 83,033 62,660 42,032 21,147 0-

Total Long-term Liability 218,773 200,096 181,187 162,041 142,655 123,027 103,154 83,033 62,660 42,032 21,147 0-


EQUITY



Total Equity 2,788,112 2,832,554 2,831,188 2,812,797 2,794,438 2,911,719 3,004,867 3,049,867 3,119,051 3,203,376 3,284,836 3,354,388


96

Interest Paid Installment paid Total

0 900,000฿

1 1 11,250 10,161 21,411 889,839 11,250

2 1 11,123 10,288 21,411 879,551 22,373

3 1 10,994 10,417 21,411 869,135 33,367

4 1 10,864 10,547 21,411 858,588 44,232

5 1 10,732 10,679 21,411 847,909 54,964

6 1 10,599 10,812 21,411 837,097 65,563

7 1 10,464 10,947 21,411 826,150 76,026

8 1 10,327 11,084 21,411 815,066 86,353

9 1 10,188 11,223 21,411 803,843 96,542

10 1 10,048 11,363 21,411 792,480 106,590

11 1 9,906 11,505 21,411 780,975 116,496

12 1 9,762 11,649 21,411 769,327 126,258

13 2 9,617 11,794 21,411 757,532 135,875

14 2 9,469 11,942 21,411 745,591 145,344

15 2 9,320 12,091 21,411 733,499 154,664

16 2 9,169 12,242 21,411 721,257 163,832

17 2 9,016 12,395 21,411 708,862 172,848

18 2 8,861 12,550 21,411 696,312 181,709

19 2 8,704 12,707 21,411 683,605 190,413

20 2 8,545 12,866 21,411 670,739 198,958

21 2 8,384 13,027 21,411 657,712 207,342

22 2 8,221 13,190 21,411 644,523 215,563

23 2 8,057 13,354 21,411 631,168 223,620

24 2 7,890 13,521 21,411 617,647 231,510

25 3 7,721 13,690 21,411 603,957 239,230

26 3 7,549 13,861 21,411 590,095 246,780

27 3 7,376 14,035 21,411 576,060 254,156

28 3 7,201 14,210 21,411 561,850 261,357

29 3 7,023 14,388 21,411 547,462 268,380

30 3 6,843 14,568 21,411 532,895 275,223

31 3 6,661 14,750 21,411 518,145 281,884

32 3 6,477 14,934 21,411 503,211 288,361

33 3 6,290 15,121 21,411 488,090 294,651

34 3 6,101 15,310 21,411 472,780 300,752

35 3 5,910 15,501 21,411 457,279 306,662

36 3 5,716 15,695 21,411 441,584 312,378

37 4 5,520 15,891 21,411 425,693 317,898

38 4 5,321 16,090 21,411 409,603 323,219

39 4 5,120 16,291 21,411 393,312 328,339

40 4 4,916 16,495 21,411 376,818 333,255

41 4 4,710 16,701 21,411 360,117 337,966

42 4 4,501 16,909 21,411 343,208 342,467

43 4 4,290 17,121 21,411 326,087 346,757

44 4 4,076 17,335 21,411 308,752 350,833

45 4 3,859 17,552 21,411 291,200 354,693

46 4 3,640 17,771 21,411 273,430 358,333

47 4 3,418 17,993 21,411 255,436 361,750

48 4 3,193 18,218 21,411 237,218 364,943

49 5 2,965 18,446 21,411 218,773 367,909

50 5 2,735 18,676 21,411 200,096 370,643

51 5 2,501 18,910 21,411 181,187 373,145

52 5 2,265 19,146 21,411 162,041 375,409

53 5 2,026 19,385 21,411 142,655 377,435

54 5 1,783 19,628 21,411 123,027 379,218

55 5 1,538 19,873 21,411 103,154 380,756

56 5 1,289 20,122 21,411 83,033 382,045

57 5 1,038 20,373 21,411 62,660 383,083

58 5 783 20,628 21,411 42,032 383,866

59 5 525 20,886 21,411 21,147 384,392

60 5 264 21,147 21,411 0 384,656

Period Year

Installment

Principle

Accumulate

Interest

Financial analysis

All of the zdravo siam loan amount will be total of 900,000 and we will give back the

interest rate at 15% for the maximum rate according to the Thai law. The table below

will show the payment table of the return.

97

Current Ratio = Total Current Assets = 730,603 = 2,185,821 = 2,748,751 = 2,976,528 = 3,444,516

Total Current Liabilities 18,546 130,610 46,367 23,614 29,808

= 39.39 = 16.74 = 59.28 = 126.05 = 115.56

Quick Ratio = Current Assets - Inventory = 717,121 = 2,176,350 = 588,521 = 610,941 = 638,966


= 38.67 = 16.66 = 2.11 = 2.05 = 2.00

Liquidity Ratios Y1 Y2 Y3 Y4 Y5

= 117,920 = 122,960 = 123,200 = 122,240 = 122,960

Inventory Turnover Ratio = Cost of Goods Sold 13,482 9,471 6,911 12,085 1,746

Average Inventory

= 8.75 = 12.98 = 17.83 = 10.12 = 70.43

Inventory Period = 365 = 365 = 365 = 365 = 365 = 365

Inventory Turnover 8.75 12.98 17.83 10.12 70.43

= 41.73 = 28.11 = 20.48 = 36.08 = 5.18

Total Assets Turnover = Sales = 135,135 = 509,466 = 228,690 = 152,460 = 173,250

Total Assets 927,467 2,318,389 2,817,023 2,980,504 3,384,196

= 0.15 = 0.22 = 0.08 = 0.05 = 0.05

Y3 Y4 Y5Efficiency Ratios Y1 Y2

Gross Profit Margin = Sales - Cost of Goods Sold = 125,308 = 499,220 = 218,423 = 142,273 = 163,003

Sales 1,039,500 2,853,051 1,905,750 1,386,000 1,732,500

= 12% = 17% = 11% = 10% = 9%

Net Profit Margin = Net Profit = 139,595 = 1,626,336 = 1,766,414 = 2,263,551 = 2,257,200

Sales 1,039,500 80,148,010 84,155,411 90,193,968 91,368,731

= 13% = 2% = 2% = 3% = 2%

Operating Profit Margin = Operating Profit = 126,258 = 126,258 = 126,258 = 126,258 = 126,258

Sales 1,039,500 2,853,051 1,905,750 1,386,000 1,732,500

= 12% = 4% = 7% = 9% = 7%

Return on Assets = Net Profit = 139,595 = 1,430,537 = 758,940 = 390,599 = 634,717

Average on Assets 927,467 2,318,389 2,817,023 2,980,504 3,384,196

= 15% = 62% = 27% = 13% = 19%

Y1 Y2 Y3 Y4 Y5Profitability Ratio

Debt Ratio = Total Liabilities = 787,872 = 748,257 = 487,951 = 260,833 = 29,808

Total Assets 927,467 2,318,389 2,817,023 2,980,504 3,384,196

= 0.85 = 0.32 = 0.17 = 0.09 = 0.01

Times interest-earned Ratio = Net Income = 139,595 = 1,430,537 = 758,940 = 390,599 = 634,717

Annual Interest Expense 237,914 2,043,625 1,095,384 578,694 923,074

= 0.59 = 0.70 = 0.69 = 0.67 = 0.69

Y3 Y4 Y5Leverage Ratio Y1 Y2

And these are the financial ratio analysis of the Zdravo siam

98

Current ratio mainly used to give an idea of the company's ability to pay back its

short-term liabilities (debt and payables) with its short-term assets (cash, inventory,

receivables). The higher the current ratio, the more capable the company is of paying

its obligations.

Quick ratio is viewed as a sign of company's financial strength or weakness (higher

number means stronger, lower number means weaker.

Inventory turnover ratio measures the number of times, on average, the inventory is

sold during the period. Its purpose is to measure the liquidity of the inventory. A

popular variant of the Inventory turnover ratio is to convert it into an average days to

sell the inventory in terms of days.

Total asset turnover ratio this is a measure of how well assets are being used to

produce revenue.

Gross profit margin show remains from sales after a company pays out the cost of

goods sold.

Net profit margin this number is an indication of how effective a company is at cost

control. The higher the net profit margin is, the more effective the company is at

converting revenue into actual profit.

Operating profit margin indicates how effective a company is at controlling the

costs and expenses associated with their normal business operations.

Return on asset a measure of a company's profitability, equal to a fiscal year's

earnings divided by its total assets, expressed as a percentage.

Debt ratio This will tell you how much the company relies on debt to finance assets.

In general, the lower the company's reliance on debt for asset formation, the less risky

the company is since excessive debt can lead to a very heavy interest and principal

repayment burden.

99

Investment 100%

rate Interest rate 15.00%

pmt Average 48,460

pv PV 322,992-

Payback Period 60

The times interest earned ratio is an Indicator of a company’s ability to meet the

interest payments on its debt. The higher the times interest earned ratio, the more

likely it is that the corporation will be able to meet its interest payments.

And these are the PV and PMT calculation rate.

Income statement showed the operation results of the Zdravo siam over 60

months. It matches the income and the expense in the same period, and we can

calculate the net profit in the period of time. The important thing about an income

statement is that it represents a period of time. This contrasts with the balance sheet,

which represents a single moment in time.

Balance sheet are the summarizes a company's assets, liabilities

and shareholders' equity at a specific point in time. This balance sheet gives investors

an idea as to what the company owns and owes, as well as the amount invested by the

shareholders.

Cash flow refers to the movement of cash inflow and cash outflow of a

Zdravo siam. It is usually measured during a specified, finite period of time.

Measurement of cash flow can be use to determine a project's rate of return or value.

The time of cash flows into and out of projects are used as inputs in financial models.

100

Chapter 6

Risk Management

101

Chapter 6

6.1. Risk analysis of projects

Risk of Zdravo siam, It’s mean opportunity of Zdravo siam will face

problems that are expected to occur in the future. Operating loss or business cannot

operate successfully according to plan. Or target. Activities every activity will risks in

the 2 types of risk is the first risk that the course Certainty Risk is caused by Zdravo

siam. It’s occur within Zdravo siam the surely we have and can be avoided. These

risks can arise from the first phase of operations and currently operating. The second

is Uncertainty Risk or the risks arising from external factors. Zdravo siam cannot be

predicted and are beyond the control, but can prevent or eliminate the risks incurred

them.

6.1.1. Certainty Risk

6.1.1.1 Human Resources

Risks associated with employees working within the Zdravo siam. Which risk

that every organization. The recruitment in each position because the Zdravo siam

cannot predict the performance of employees that will be the performance in that

position. And Zdravo siam can be selected as a feature only. It may still not know the

true capabilities of each employee in the appropriate position. Sometimes it may be of

service to Zdravo siam not fully effective

Therefore, management should provide employees with benefits such as

housing costs for food. In addition, to reward outstanding employees with the

responsibility to pay diligent, responsible to the people that works outside during

working hours. The pay is 2 times per hour worked. Zdravo siam make satisfy the

employees to be encouraged to continue.

6.1.2. Uncertainty Risk

6.1.2.1 Changing in Customer Need

Demand for purchase ice-cream of customers may vary with different causes.

Which can be a direct risk to business, including.

102

6.1.2.1.1. Customers turn to the same category because customers

prefer traditional flavors.

6.1.2.1.2. Service, dissatisfaction with the service or customer thinks

service not good enough.

6.1.2.1.3. Customers may be bias to retail customers don’t like

styles of store or the flavor of Zdravo siam.

From the reasons above factors affect the purchasing behavior of customers

change. All of which have an effect on quantities of products sales and revenues. So

the Zdravo siam is considering the needs of customers is a cornerstone.

1.) Zdravo siam use pricing strategy and discount support prices to be reasonable

to ice-cream and reduce customers' attitudes to the price of goods.

2.) In the management and operations. From the allocation of duties to employees

and clearly highlights our services

6.1.3. Economic Condition

In the current economic volatility is relatively more frequent. Because of

political conflicts, social problems, people with extravagant spending, values in the

consumer products overseas and money flowing out of the country. Result in some

customers to save money on the purchase of necessary and important to do really.

Therefore affect the sales of goods decrease. In investment the plants risks in the loan

from the bank's credit department of investor because the economic situation of the

country to be uncertain of the reasons above.

Therefore, the facility is monitoring the economic situation of the country and

in Bangkok. And define appropriate strategies. Zdravo Siam support promotion and

advertising. Describes the features and benefits of ice-cream that help good health, not

serious, and Social. The financial management, the plant is strong. The selection

expert strategies and we have good staff support part of the look. Affect the financial

condition of the Zdravo Siam is strong and stable. Investor is confident that the

Zdravo Siam will refund in time to be agreed.

103

6.1.4. Risks from natural disasters

Season and climate is uncertain and cannot predict all that will occur when a

natural disaster. Because problems flood, air pollution problems and traffic jam.

Zdravo siam will be floods, pollution problems, traffic jam and problems from our

negligence. Not aware of people such as fire, power failure etc. So the factory

measures protect the natural disaster. Zdravo siam has already in store and fire

insurance issues.

104


Revenue

Sale 164,588 131,670 49,376 32,918 32,918 230,423 197,505 131,670 164,588 164,588 181,046 164,588

Total Revenue 164,588 131,670 49,376 32,918 32,918 230,423 197,505 131,670 164,588 164,588 181,046 164,588

Cost of goods Sold

Material 10 10 10 10 10 10 10 10 10 10 10 10

Labor 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000

MFG overhead 4,237 4,237 4,237 4,237 4,237 4,237 4,237 4,237 4,237 4,237 4,237 4,237


Gross income 154,341 121,423 39,130 22,671 22,671 220,176 187,258 121,423 154,341 154,341 170,800 154,341

Operating Expense

Marketing expense 1,205 972 740 573 673 1,371 1,338 972 1,205 1,105 1,272 1,105

Rent 21,391 21,391 - - - 21,391 21,391 21,391 21,391 - 21,391 21,391

Depreciation 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350













If sale decrease by 5%

The profit and loss statement will be as the following and Zdravo siam retain earning at the end of year five will be as the following that show in

the statement.

105


Revenue

Sale 155,925 124,740 46,778 31,185 31,185 218,295 187,110 124,740 155,925 155,925 171,518 155,925

Total Revenue 155,925 124,740 46,778 31,185 31,185 218,295 187,110 124,740 155,925 155,925 171,518 155,925

Cost of goods Sold

Material 10 10 10 10 10 10 10 10 10 10 10 10

Labor 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000

MFG overhead 4,237 4,237 4,237 4,237 4,237 4,237 4,237 4,237 4,237 4,237 4,237 4,237


Gross income 145,678 114,493 36,531 20,938 20,938 208,048 176,863 114,493 145,678 145,678 161,271 145,678

Operating Expense


Rent 21,391 21,391 - - - 21,391 21,391 21,391 21,391 - 21,391 21,391

Depreciation 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350















the statement.

106


Revenue

Sale 147,263 117,810 44,179 29,453 29,453 206,168 176,715 117,810 147,263 147,263 161,989 147,263

Total Revenue 147,263 117,810 44,179 29,453 29,453 206,168 176,715 117,810 147,263 147,263 161,989 147,263

Cost of goods Sold

Material 10 10 10 10 10 10 10 10 10 10 10 10

Labor 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000

MFG overhead 4,237 4,237 4,237 4,237 4,237 4,237 4,237 4,237 4,237 4,237 4,237 4,237


Gross income 137,016 107,563 33,932 19,206 19,206 195,921 166,468 107,563 137,016 137,016 151,742 137,016

Operating Expense


Rent 21,391 21,391 - - - 21,391 21,391 21,391 21,391 - 21,391 21,391

Depreciation 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350















the statement.

107


Revenue

Sale 173,250 138,600 51,975 34,650 34,650 242,550 207,900 138,600 173,250 173,250 190,575 173,250

Total Revenue 173,250 138,600 51,975 34,650 34,650 242,550 207,900 138,600 173,250 173,250 190,575 173,250

Cost of goods Sold

Material 11 11 11 11 11 11 11 11 11 11 11 11

Labor 6,300 6,300 6,300 6,300 6,300 6,300 6,300 6,300 6,300 6,300 6,300 6,300

MFG overhead 4,449 4,449 4,449 4,449 4,449 4,449 4,449 4,449 4,449 4,449 4,449 4,449


Gross income 162,491 127,841 41,216 23,891 23,891 231,791 197,141 127,841 162,491 162,491 179,816 162,491

Operating Expense


Rent 21,391 21,391 - - - 21,391 21,391 21,391 21,391 - 21,391 21,391

Depreciation 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350













If cost increase by 5%


the statement.

108


Revenue

Sale 173,250 138,600 51,975 34,650 34,650 242,550 207,900 138,600 173,250 173,250 190,575 173,250

Total Revenue 173,250 138,600 51,975 34,650 34,650 242,550 207,900 138,600 173,250 173,250 190,575 173,250

Cost of goods Sold

Material 11 11 11 11 11 11 11 11 11 11 11 11

Labor 6,600 6,600 6,600 6,600 6,600 6,600 6,600 6,600 6,600 6,600 6,600 6,600

MFG overhead 4,660 4,660 4,660 4,660 4,660 4,660 4,660 4,660 4,660 4,660 4,660 4,660


Gross income 161,979 127,329 40,704 23,379 23,379 231,279 196,629 127,329 161,979 161,979 179,304 161,979

Operating Expense


Rent 21,391 21,391 - - - 21,391 21,391 21,391 21,391 - 21,391 21,391

Depreciation 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350















the statement.

109


Revenue

Sale 173,250 138,600 51,975 34,650 34,650 242,550 207,900 138,600 173,250 173,250 190,575 173,250

Total Revenue 173,250 138,600 51,975 34,650 34,650 242,550 207,900 138,600 173,250 173,250 190,575 173,250

Cost of goods Sold

Material 12 12 12 12 12 12 12 12 12 12 12 12

Labor 6,900 6,900 6,900 6,900 6,900 6,900 6,900 6,900 6,900 6,900 6,900 6,900

MFG overhead 4,872 4,872 4,872 4,872 4,872 4,872 4,872 4,872 4,872 4,872 4,872 4,872


Gross income 161,466 126,816 40,191 22,866 22,866 230,766 196,116 126,816 161,466 161,466 178,791 161,466

Operating Expense


Rent 21,391 21,391 - - - 21,391 21,391 21,391 21,391 - 21,391 21,391

Depreciation 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350















the statement.

110


Revenue

Sale 173,250 138,600 51,975 34,650 34,650 242,550 207,900 138,600 173,250 173,250 190,575 173,250

Total Revenue 173,250 138,600 51,975 34,650 34,650 242,550 207,900 138,600 173,250 173,250 190,575 173,250

Cost of goods Sold

Material 10 10 10 10 10 10 10 10 10 10 10 10

Labor 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000

MFG overhead 4,237 4,237 4,237 4,237 4,237 4,237 4,237 4,237 4,237 4,237 4,237 4,237


Gross income 163,003 128,353 41,728 24,403 24,403 232,303 197,653 128,353 163,003 163,003 180,328 163,003

Operating Expense


Rent 21,391 21,391 - - - 21,391 21,391 21,391 21,391 - 21,391 21,391

Depreciation 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350













If interest increase by 5%


the statement.

111


Revenue

Sale 173,250 138,600 51,975 34,650 34,650 242,550 207,900 138,600 173,250 173,250 190,575 173,250

Total Revenue 173,250 138,600 51,975 34,650 34,650 242,550 207,900 138,600 173,250 173,250 190,575 173,250

Cost of goods Sold

Material 10 10 10 10 10 10 10 10 10 10 10 10

Labor 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000

MFG overhead 4,237 4,237 4,237 4,237 4,237 4,237 4,237 4,237 4,237 4,237 4,237 4,237


Gross income 163,003 128,353 41,728 24,403 24,403 232,303 197,653 128,353 163,003 163,003 180,328 163,003

Operating Expense


Rent 21,391 21,391 - - - 21,391 21,391 21,391 21,391 - 21,391 21,391

Depreciation 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350















the statement.

112


Revenue

Sale 173,250 138,600 51,975 34,650 34,650 242,550 207,900 138,600 173,250 173,250 190,575 173,250

Total Revenue 173,250 138,600 51,975 34,650 34,650 242,550 207,900 138,600 173,250 173,250 190,575 173,250

Cost of goods Sold

Material 10 10 10 10 10 10 10 10 10 10 10 10

Labor 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000

MFG overhead 4,237 4,237 4,237 4,237 4,237 4,237 4,237 4,237 4,237 4,237 4,237 4,237


Gross income 163,003 128,353 41,728 24,403 24,403 232,303 197,653 128,353 163,003 163,003 180,328 163,003

Operating Expense


Rent 21,391 21,391 - - - 21,391 21,391 21,391 21,391 - 21,391 21,391

Depreciation 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350 1,350















the statement.

113

6.2 Risk management summary

According to the risk that has been demonstrate above the most risk that Zdravo siam

will mostly concern is the change in the change in demand for purchase ice-cream of

customers may vary. Thus, it can illustrate that customer who buys or drinks coffee

will not going to buy an ice cream so Zdravo siam will have to face the change the

need of customer if the trend or most demand of customers turns to coffee.

Zdravo siam will face the hard time in doing business Zdravo siam will use

pricing strategy and discount support prices to be reasonable to ice-cream and reduce

customers' attitudes to the price of goods. In the management and operations. From

the allocation of duties to employees and clearly highlights our services

From the Financial risk that illustrate above Zdravo siam will not concern

about it because even if the sale decrease , Cost increase and interest rate increase it

will have an effect to the retain earning not very much .

114

Chapter 7

Summary

115

0%

5%

10%

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25%

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ge

Zdravo siam Growth rate

Zdravo siam

Chapter 7 Summary

As the market share in Thailand in nowadays, ice-cream business still one of the

business that many people also need. They will face with a variety of ice-cream flavors,

and a lot of hand-made cakes. The specialty of Zdravo Siam is all of ice-cream is daily

fresh. All ingredients to make ice-cream are 100 percents made in Thailand [Fruits and

any mixers]. In finally, the shop hope to give joyfulness and satisfy to all of customers

with the best services as much as possible.

Figure 7.1: Zdravo siam Growth rate

According to the sale forecasting it can conclude that the average income of the

total 60 month will be approximate 148,613 baht per month and the seasoning sale will

be shown as the following but the sharp decrease in sales this happened because it is

summer season But the advantage are even the sale are 50% lower than normal in every

years because of the closing of the University but the advantage is the ABAC plaza will

exempt the rental on these summers times. But The ABAC plaza will give an exception

not to gather the rent of the summer season.

The total of marketing expense is 60,900 baht and these will help Zdravo saim to

reach the sale forecast as also this marketing expense are used to the support through the

strategy that are specially selected to use in the effort to maintain the high volume of

slaes and customer demand.

116

As in the first time of opening Zdravo siam selected to be located at ABAC Plaza in

ABAC University. And these are the list in investing on Zdravo Siam shop as the

following.

No. Descript No. Product Price/Unit Total

1 Ice cream maker 1 150,000 150,000

2 Ice cream freezer 1 46,000 46,000

3 Ice cream scoop 3 450 1,350

4 Ice cream’s tray 24 580 13,920

5 Fruit’s tray 6 480 2,880

6 Cash Register 1 35,000 35,000

7 Blackboard 1 550 550

8 Spoon 40 173 6,920

9 Tray 5 48 240

10 Water glass 50 75 3,750

11 Glass 30 55 1,650

12 Sunday glass 2 675 1,350

13 Basin 2 59 118

14 Cooler 1 1,800 1,800

15 Book magazine 8 50 400

16 Telephone 1 990 990

17 Pen 12 4.25 51

18 Napkin 6 130 780

19 Order 100 25 2,500

20 Tissue Paper 12 748 8,976

21 Dishwashing liquid 1 27 27

22 Scotch Brite 2 12 24

23 Banana 5 190 950

24 Orange 5 24.5 122.5

25 Lynches 5 80 400

26 Strawberry 5 145 725

27 White malt 5 98 490

28 Sugar 5 24 120

29 Whole milk 5 102 510

30 Rum 6 60 360

31 Whip cream 6 230 1,380

32 Guar Gum 6 440 2,640

33 Raisin 6 230 1,380

34 Pumpkin 6 12 72

35 Almond 6 350 2,100

36 Green tea flavor 6 280 1,680

37 Milk tea flavor 6 120 720

38 Egg 60 3.20 192

39 Pineapple Juice 1 420 420

40 Vanilla 6 60 360

41 Chocolate 6 60 360

117

Interest Paid Installment paid Total

0 900,000฿

1 1 11,250 10,161 21,411 889,839 11,250

2 1 11,123 10,288 21,411 879,551 22,373

3 1 10,994 10,417 21,411 869,135 33,367

4 1 10,864 10,547 21,411 858,588 44,232

5 1 10,732 10,679 21,411 847,909 54,964

6 1 10,599 10,812 21,411 837,097 65,563

7 1 10,464 10,947 21,411 826,150 76,026

8 1 10,327 11,084 21,411 815,066 86,353

9 1 10,188 11,223 21,411 803,843 96,542

10 1 10,048 11,363 21,411 792,480 106,590

11 1 9,906 11,505 21,411 780,975 116,496

12 1 9,762 11,649 21,411 769,327 126,258

13 2 9,617 11,794 21,411 757,532 135,875

14 2 9,469 11,942 21,411 745,591 145,344

15 2 9,320 12,091 21,411 733,499 154,664

16 2 9,169 12,242 21,411 721,257 163,832

17 2 9,016 12,395 21,411 708,862 172,848

18 2 8,861 12,550 21,411 696,312 181,709

19 2 8,704 12,707 21,411 683,605 190,413

20 2 8,545 12,866 21,411 670,739 198,958

21 2 8,384 13,027 21,411 657,712 207,342

22 2 8,221 13,190 21,411 644,523 215,563

23 2 8,057 13,354 21,411 631,168 223,620

24 2 7,890 13,521 21,411 617,647 231,510

25 3 7,721 13,690 21,411 603,957 239,230

26 3 7,549 13,861 21,411 590,095 246,780

27 3 7,376 14,035 21,411 576,060 254,156

28 3 7,201 14,210 21,411 561,850 261,357

29 3 7,023 14,388 21,411 547,462 268,380

30 3 6,843 14,568 21,411 532,895 275,223

31 3 6,661 14,750 21,411 518,145 281,884

32 3 6,477 14,934 21,411 503,211 288,361

33 3 6,290 15,121 21,411 488,090 294,651

34 3 6,101 15,310 21,411 472,780 300,752

35 3 5,910 15,501 21,411 457,279 306,662

36 3 5,716 15,695 21,411 441,584 312,378

37 4 5,520 15,891 21,411 425,693 317,898

38 4 5,321 16,090 21,411 409,603 323,219

39 4 5,120 16,291 21,411 393,312 328,339

40 4 4,916 16,495 21,411 376,818 333,255

41 4 4,710 16,701 21,411 360,117 337,966

42 4 4,501 16,909 21,411 343,208 342,467

43 4 4,290 17,121 21,411 326,087 346,757

44 4 4,076 17,335 21,411 308,752 350,833

45 4 3,859 17,552 21,411 291,200 354,693

46 4 3,640 17,771 21,411 273,430 358,333

47 4 3,418 17,993 21,411 255,436 361,750

48 4 3,193 18,218 21,411 237,218 364,943

49 5 2,965 18,446 21,411 218,773 367,909

50 5 2,735 18,676 21,411 200,096 370,643

51 5 2,501 18,910 21,411 181,187 373,145

52 5 2,265 19,146 21,411 162,041 375,409

53 5 2,026 19,385 21,411 142,655 377,435

54 5 1,783 19,628 21,411 123,027 379,218

55 5 1,538 19,873 21,411 103,154 380,756

56 5 1,289 20,122 21,411 83,033 382,045

57 5 1,038 20,373 21,411 62,660 383,083

58 5 783 20,628 21,411 42,032 383,866

59 5 525 20,886 21,411 21,147 384,392

60 5 264 21,147 21,411 0 384,656

Period Year

Installment

Principle

Accumulate

Interest

42 salt 1 10 10

43 Whipping Cream Bottom 1 2,000 2,000

44 Whipping Cream 3 150 450

45 Gas 10 170 1,700

46 Topping 6 65 390

47 Fresh Milk 1 82 82

48 Computer 1 13,800 13,800

49 Printer 1 2,750 2,750

50 Speaker 1 1,490 1,490

Total 495 316,930

And the total loan amount will be equal 900,000 baht the table below show the

payment on interest and principal deduction.

And these are the financial ratio analysis of the Zdravo siam

118

Current Ratio = Total Current Assets = 730,603 = 2,185,821 = 2,748,751 = 2,976,528 = 3,444,516


= 39.39 = 16.74 = 59.28 = 126.05 = 115.56

Quick Ratio = Current Assets - Inventory = 717,121 = 2,176,350 = 588,521 = 610,941 = 638,966


= 38.67 = 16.66 = 2.11 = 2.05 = 2.00

Liquidity Ratios Y1 Y2 Y3 Y4 Y5

= 117,920 = 122,960 = 123,200 = 122,240 = 122,960

Inventory Turnover Ratio = Cost of Goods Sold 13,482 9,471 6,911 12,085 1,746

Average Inventory

= 8.75 = 12.98 = 17.83 = 10.12 = 70.43

Inventory Period = 365 = 365 = 365 = 365 = 365 = 365

Inventory Turnover 8.75 12.98 17.83 10.12 70.43

= 41.73 = 28.11 = 20.48 = 36.08 = 5.18

Total Assets Turnover = Sales = 135,135 = 509,466 = 228,690 = 152,460 = 173,250

Total Assets 927,467 2,318,389 2,817,023 2,980,504 3,384,196

= 0.15 = 0.22 = 0.08 = 0.05 = 0.05

Y3 Y4 Y5Efficiency Ratios Y1 Y2

Gross Profit Margin = Sales - Cost of Goods Sold = 125,308 = 499,220 = 218,423 = 142,273 = 163,003

Sales 1,039,500 2,853,051 1,905,750 1,386,000 1,732,500

= 12% = 17% = 11% = 10% = 9%

Net Profit Margin = Net Profit = 139,595 = 1,626,336 = 1,766,414 = 2,263,551 = 2,257,200

Sales 1,039,500 80,148,010 84,155,411 90,193,968 91,368,731

= 13% = 2% = 2% = 3% = 2%

Operating Profit Margin = Operating Profit = 126,258 = 126,258 = 126,258 = 126,258 = 126,258

Sales 1,039,500 2,853,051 1,905,750 1,386,000 1,732,500

= 12% = 4% = 7% = 9% = 7%

Return on Assets = Net Profit = 139,595 = 1,430,537 = 758,940 = 390,599 = 634,717

Average on Assets 927,467 2,318,389 2,817,023 2,980,504 3,384,196

= 15% = 62% = 27% = 13% = 19%

Y1 Y2 Y3 Y4 Y5Profitability Ratio

Debt Ratio = Total Liabilities = 787,872 = 748,257 = 487,951 = 260,833 = 29,808

Total Assets 927,467 2,318,389 2,817,023 2,980,504 3,384,196

= 0.85 = 0.32 = 0.17 = 0.09 = 0.01

Times interest-earned Ratio = Net Income = 139,595 = 1,430,537 = 758,940 = 390,599 = 634,717

Annual Interest Expense 237,914 2,043,625 1,095,384 578,694 923,074

= 0.59 = 0.70 = 0.69 = 0.67 = 0.69

Y3 Y4 Y5Leverage Ratio Y1 Y2

119

Current ratio will increase every year the higher current ratio show that zdravo siam

is capable in paying back the profit

Quick ratio is viewed as a sign of company's financial strength or weakness.

Inventory turnover ratio measures the number of times, on average, the inventory is

sold during the period.

Total asset turnover ratio this is a measure of how well assets are being used to

produce revenue.

Gross profit margin show remains from sales after a company pays out the cost of

goods sold.

Net profit margin this number is an indication of how effective a company is at cost

control. The higher the net profit margin is, the more effective the company is at

converting revenue into actual profit.

Operating profit margin indicates how effective a company is at controlling the

costs and expenses associated with their normal business operations.

Return on asset a measure of a company's profitability, equal to a fiscal year's

earnings divided by its total assets, expressed as a percentage.

Debt ratio This will tell you how much the company relies on debt to finance assets.

In general, the lower the company's reliance on debt for asset formation, the less risky

the company is since excessive debt can lead to a very heavy interest and principal

repayment burden.

120

Investment 100%

rate Interest rate 15.00%

pmt Average 48,460

pv PV 322,992-

Payback Period 60

And these are the PV and PMT calculation rate.

Income statement had shown the operation results of the Zdravo siam over 60

months. It matches the income and the expense in the same period, and Zdravo siam

can calculate the net profit in the period of time. The important thing about an income

statement is that it represents a period of time. This contrasts with the balance sheet,

which represents a single moment in time.

Balance sheet are the summarizes a Zdravo Siam assets, liabilities

and shareholders' equity at a specific point in time. These balance sheets give

investors an idea as to what the Zdravo Siam owns and owes, as well as the amount

invested by the shareholders.

Cash flow refers to the movement of cash inflow and cash outflow of a

Zdravo Siam. It is usually measured during a specified, finite period of time.

Measurement of cash flow can be use to determine a project's rate of return or value.

The time of cash flows into and out of projects are used as inputs in financial mode

121

Reference

122

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123

Appendix

131

Inventory in cash

Y1 January February March April May June July August September October November December

Beging inventory 44,040 50,442 53,874 69,186 87,468 105,750 100,272 100,734 95,256 83,838 66,480 52,092

Cost of goods sold 17,820 20,790 8,910 5,940 5,940 41,547 23,760 29,700 35,640 41,580 38,610 38,610

Rum Raisin 2,052 2,394 1,026 684 684 3,420 2,736 3,420 4,104 4,788 4,446 4,446

Golden Fresh milk 1,728 2,016 864 576 576 2,880 2,304 2,880 3,456 4,032 3,744 3,744

Almond Fresh milk 1,534 1,789 767 511 511 2,556 2,045 2,556 3,067 3,578 3,323 3,323

Green tea Fresh milk 1,447 1,688 724 482 482 2,412 1,930 2,412 2,894 3,377 3,136 3,136

Ice tea Fresh milk 1,598 1,865 799 533 533 2,664 2,131 2,664 3,197 3,730 3,463 3,463

Lynchee Sorbet 821 958 410 274 274 1,368 1,094 1,368 1,642 1,915 1,778 1,778

Papermint 648 756 324 216 216 1,080 864 1,080 1,296 1,512 1,404 1,404

Vanila 2,160 2,520 1,080 720 720 3,600 2,880 3,600 4,320 5,040 4,680 4,680

Chocolate 2,808 3,276 1,404 936 936 4,680 3,744 4,680 5,616 6,552 6,084 6,084

Strawberry 3,024 3,528 1,512 1,008 1,008 5,040 4,032 5,040 6,048 7,056 6,552 6,552

Total sale in unit 17,820 20,790 8,910 5,940 5,940 29,700 23,760 29,700 35,640 41,580 38,610 38,610

Ending inventory 26,220 29,652 44,964 63,246 81,528 76,050 76,512 71,034 59,616 42,258 27,870 13,482




Rum Raisin 4,560 5,700 1,710 1,140 1,710 3,420 5,700 7,980 8,550 3,990 5,130 7,410

Golden Fresh milk 3,840 4,800 1,440 960 1,440 2,880 4,800 6,720 7,200 3,360 4,320 6,240

Almond Fresh milk 3,408 4,260 1,278 852 1,278 2,556 4,260 5,964 6,390 2,982 3,834 5,538

Green tea Fresh milk 3,216 4,020 1,206 804 1,206 2,412 4,020 5,628 6,030 2,814 3,618 5,226

Ice tea Fresh milk 3,552 4,440 1,332 888 1,332 2,664 4,440 6,216 6,660 3,108 3,996 5,772

Lynchee Sorbet 1,824 2,280 684 456 684 1,368 2,280 3,192 3,420 1,596 2,052 2,964

Papermint 1,440 1,800 540 360 540 1,080 1,800 2,520 2,700 1,260 1,620 2,340

Vanila 4,800 6,000 1,800 1,200 1,800 3,600 6,000 8,400 9,000 4,200 5,400 7,800

Chocolate 6,240 7,800 2,340 1,560 2,340 4,680 7,800 10,920 11,700 5,460 7,020 10,140

Strawberry 6,720 8,400 2,520 1,680 2,520 5,040 8,400 11,760 12,600 5,880 7,560 10,920



132




Rum Raisin 5,016 4,389 1,881 1,254 1,254 6,897 6,270 6,270 6,270 7,524 8,151 7,524

Golden Fresh milk 4,224 3,696 1,584 1,056 1,056 5,808 5,280 5,280 5,280 6,336 6,864 6,336

Almond Fresh milk 3,749 3,280 1,406 937 937 5,155 4,686 4,686 4,686 5,623 6,092 5,623

Green tea Fresh milk 3,538 3,095 1,327 884 884 4,864 4,422 4,422 4,422 5,306 5,749 5,306

Ice tea Fresh milk 3,907 3,419 1,465 977 977 5,372 4,884 4,884 4,884 5,861 6,349 5,861

Lynchee Sorbet 2,006 1,756 752 502 502 2,759 2,508 2,508 2,508 3,010 3,260 3,010

Papermint 1,584 1,386 594 396 396 2,178 1,980 1,980 1,980 2,376 2,574 2,376

Vanila 5,280 4,620 1,980 1,320 1,320 7,260 6,600 6,600 6,600 7,920 8,580 7,920

Chocolate 6,864 6,006 2,574 1,716 1,716 9,438 8,580 8,580 8,580 10,296 11,154 10,296

Strawberry 7,392 6,468 2,772 1,848 1,848 10,164 9,240 9,240 9,240 11,088 12,012 11,088






Rum Raisin 3,648 4,560 1,368 912 1,368 4,104 6,384 5,472 4,560 3,648 4,560 5,016

Golden Fresh milk 3,072 3,840 1,152 768 1,152 3,456 5,376 4,608 3,840 3,072 3,840 4,224

Almond Fresh milk 2,726 3,408 1,022 682 1,022 3,067 4,771 4,090 3,408 2,726 3,408 3,749

Green tea Fresh milk 2,573 3,216 965 643 965 2,894 4,502 3,859 3,216 2,573 3,216 3,538

Ice tea Fresh milk 2,842 3,552 1,066 710 1,066 3,197 4,973 4,262 3,552 2,842 3,552 3,907

Lynchee Sorbet 1,459 1,824 547 365 547 1,642 2,554 2,189 1,824 1,459 1,824 2,006

Papermint 1,152 1,440 432 288 432 1,296 2,016 1,728 1,440 1,152 1,440 1,584

Vanila 3,840 4,800 1,440 960 1,440 4,320 6,720 5,760 4,800 3,840 4,800 5,280

Chocolate 4,992 6,240 1,872 1,248 1,872 5,616 8,736 7,488 6,240 4,992 6,240 6,864

Strawberry 5,376 6,720 2,016 1,344 2,016 6,048 9,408 8,064 6,720 5,376 6,720 7,392



133




Rum Raisin 5,700 4,560 1,710 1,140 1,140 7,980 6,840 4,560 5,700 5,700 6,270 5,700

Golden Fresh milk 4,800 3,840 1,440 960 960 6,720 5,760 3,840 4,800 4,800 5,280 4,800

Almond Fresh milk 4,260 3,408 1,278 852 852 5,964 5,112 3,408 4,260 4,260 4,686 4,260

Green tea Fresh milk 4,020 3,216 1,206 804 804 5,628 4,824 3,216 4,020 4,020 4,422 4,020

Ice tea Fresh milk 4,440 3,552 1,332 888 888 6,216 5,328 3,552 4,440 4,440 4,884 4,440

Lynchee Sorbet 2,280 1,824 684 456 456 3,192 2,736 1,824 2,280 2,280 2,508 2,280

Papermint 1,800 1,440 540 360 360 2,520 2,160 1,440 1,800 1,800 1,980 1,800

Vanila 6,000 4,800 1,800 1,200 1,200 8,400 7,200 4,800 6,000 6,000 6,600 6,000

Chocolate 7,800 6,240 2,340 1,560 1,560 10,920 9,360 6,240 7,800 7,800 8,580 7,800

Strawberry 8,400 6,720 2,520 1,680 1,680 11,760 10,080 6,720 8,400 8,400 9,240 8,400



134

หลกกฎหมายเกยวกบสนเชอ

หลกกฎหมายเกยวกบการกยม ในกรณทขาดทนส ารองในการผลตหรอมทนส ารองอยไมเพยงพอทจะลงทน ปรบปรงหรอขยายกจการ อาจไปกยมจากแหลงสนเชอได เชน สถาบนการเงนตางๆ นายทน เปนตน การกยมนกตองด าเนนการตามหลกเกณฑทกฎหมายก าหนด ประมวลกฎหมายแพงและพาณชยถอวา การกยมเปนสญญาประธาน ซงเปนการ ตกลงกนระหวางบคคลสองฝายคอผใหยมและผยม โดยผ ใหยมสญญาจะสงมอบทรพยใหแกผยม และผยมจะสงมอบทรพยนนหรอทรพยอนทมปรมาณอยางเดยวกนคนใหแกผใหยม ในการกยมนน อาจตกลงกบนายทนผใหยมในรป สญญาใชคงรป กลาวคอ ยมสงใดมากจะตองสงใชคนสงนน เชน เกษตรกรขอยมเครองจกรมาใชงานเกษตร เมอใชงานเสรจแลวกตองน าเครองจกรนนมาคนเจาของ หรอยมรถยนตมาขนขาวทนวดแลวน าไปเกบในยง เมอขนขาวเสรจแลวกน ารถยนตคนนนสงคนเจาของเปนตน หรอเกษตรกรอาจตกลงกบนายทน ผใหยมในรปการยมใชสนเปลอง หมายถงการยมเงน ขาวสาร พรก กะป เมอนายทนไดมอบเงน ขาวสาร พรกหรอกะปมาใหแลว เกษตรกรกใชหมดไป การใชคนเกษตรกรตองหาเงน หรอ ธนบตรใบอนในจ านวนเดยวกน หรอขาวสารเมดอน พรก กะปอนทมปรมาณเทากนไปใชคน นายทน 1) หลกเกณฑการกยมสนเชอทเปนเงน

การกยมเงนเปนสญญาซงผใหยมโอนกรรมสทธในเงนนนใหแกผยม และผยมตกลงวาจะคนเงนเปนประเภท ชนดและปรมาณเชนเดยวกนใหแทน ซงในการกยมเงนกนนอาจก าหนดดอกเบยไวในสญญาดวยหรอไมกได โดยถอเปนขอตกลงตางหากจากสญญากยม

การกยมจะตองมการสงมอบเงนทยมใหแกกน กลาวคอ ตราบใดทผใหกยงมได สงมอบเงนใหกแกผยม แมจะไดท าสญญาไวตอกนกตาม จะบงคบเรยกรองใหปฏบตการช าระหนตามสญญานนไมได การกยมเงนเกนกว า 50 บาทขนไปตองท าหลกฐานเปนหนงสอลงลายมอชอผยมไวเปนส าคญมฉะนนผใหกจะฟองรองใหบงคบใหใชเงนยมไมได แตถาหากกยมเงนกนนอยกวา 50 บาท กไมตองท าเปนหนงสอกสามารถฟองรองกนไดโดยเพยงน าพยานบคคลผรเหน มากลาวอางเทานน อนงหลกฐานแหงการกยมนน เพยงแตเปนหนงสอมลายมอชอผยมปรากฏอยกถอเปนหลกฐานได ไมจ าเปนตองท าเปนสญญาแมเพยงบนทก จดหมาย หรอเอกสารอนใด หากบงชวามการกยมกน และปรากฏลายมอชอผยมกถอเปนหลกฐานทใชไดเชนสญญาก

135

หลกฐานสญญากยมเงนตองปดอากรแสตมปทก 200 บาท หรอเศษของ 200 บาทตออากรแสตมป 10 สตางค ในสวนทเกยวกบดอกเบยหากผใหยมกบผยมไดตกลงจะใหแกกน หามมใหผใหกยมเสยดอกเบย เกนกวารอยละ 15 ตอป หากผใหกยมเรยกดอกเบยเกนกวาอตราน ผใหกมความ ผดอาญาฐานเรยกดอกเบยเกดอตรา และจะไมไดรบดอกเบยในการช าระหน คงเรยกช าระหนคนไดเฉพาะตนเงนเทานน เชน นาย ก . ใหนาย ข . ยมเงน 500 บาท โดยก าหนดดอกเบยในอตรารอยละ 10 ตอเดอน เมอค านวณอตราดอกเบยทงปแลวเกนรอยละ 15 ตอปตามทกฎหมายก าหนด เมอถงก าหนดเวลาช าระหนเงนตน นาย ข . มสทธจะไมใหดอกเบยแก นาย ก . เลยกได แตจะ ใชคนเพยงเงนตน 500 บาทเทานน อยางไรกตามส าหรบสถาบนการเงนเพอ การพาณชย เชน ธนาคาร บรษทเงนทนตาง ๆ สามารถเรยกดอกเบยจากผกไดเกนกวารอยละ 15 ตอป ทงน ยอมเปนไปตามกฎหมายพเศษของสถาบนนนทอนญาตใหเรยกดอกเบยเกนกวาอตราดงกลาวได อนง ถามไดก าหนดดอกเบยไวในหลกฐานการกยม และ ตามเจตนาของผกและผก ใหพงสนนษฐานวา ถาคสญญาจะตกลงในดอกเบยแกกนแลว กใหมสทธไดรบเพยงรอยละ เจดครงตอป ในการกยม กฎหมายหามมใหคดดอกเบยทบตน เวนแตผใหกและผกจะไดตกลง ยนยอมกนไวเปนหนงสอ โดยลงลายมอของทง สองฝายเปนส าคญ กรณเชนนจะไมบงคบแกกน การกเงนธนาคารหรอสถาบนการเงนอนโดยวธเบกเงนเกนบญช ผใหกมสทธคดดอกเบยทบตนได ถาในสญญามไดก าหนดเวลาใหผกช าระเงนกคนเมอใดเปนหนาทของผใหกจะตองบอกกลาวใหผกช าระเงนก คนภายในเวลาอนสมควร เชน 7 วน หรอ 30 วนนบแตวนไดรบ ค าบอกกลาว เปนตน ในการช าระหนเงนกตามหลกฐานแสดงการกยมนน จ าตองใหผกลงลายมอชอไว เปนส าคญ หรอใหผใหกมอบหลกฐานการกยมคนแกผยม หรอหมายเหตเพกถอนการกยม ใบหลกฐานเอกสารนนเสยกอน มฉะนน หากเปนคดขนในศาล ผกจะตกเปนฝายเสยเปรยบในคด ถาไดก าหนดไวในหลกฐานการกยมวา ผใหกยนยอมเอาสงของหรอทรพยสนอนใดโดยมใชตวเงนแทนจ านวนเงนทก ซงอาจรวมดอกเบยดวยกได กฎหมายใหคดเปนหนคางช าระโดยจ านวนเทากบราคาทองตลาดแหงสงของหรอทรพยอนนนในเวลาและสถานททสงมอบ และในกรณนถอไดวา หนตามสญญากไดระงบไปเพราะการช าระหนดวยสงของหรอทรพยสนแทน อายความในการฟองใหผกใชเงนคนมก าหนด 10 ป นบแตวนทผใหกมสทธเรยกรองใหผกใชเงนคน เชนวนทหนเงนกถงก าหนดช าระ หรอวนครบก าหนดทผใหกบอกกลาวใหผกคนเงนทก ในกรณหลกฐานการกยมมไดก าหนดเวลาไว

project feasibilty study and evaluation . aj. chaiyawat thongintr. mae fah luang university (mfu)...

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