This chapter consists of brief summary of articles, findings of the study that are related to the present study. It contains foreign and local literature, foreign and local studies.
According to Mishell M. Malabaguio of entrepreneur magazine Philippines, Small capital, easy set-up and a good chance of success are just some of the reason why food cart Business is thriving in the Philippines. If you will look at the market trend today, Food cart business is the choice of most aspiring entrepreneurs. A mobile food cart is a business where you can start on low capital ranging from P30,000 to a maximum of P300,000. But it could be a little lower though, depending on how you will put it up — by franchise or on your own. Some companies offer food cart franchise for as low as P10,000 per package that includes, the cart, product, uniform for the crew and training.
Over the last few years, food service carts have sprouted all over the metro — from MRT and LRT station, malls, sidewalks, church, schools, markets etc. – name it and for sure, you’ll find a food cart there. Today, there are about 800 different food cart formats available in the market–pizza, waffle, fishball, siomai, rice toppings, and baked goodies, rice in a box, hotdog and a lot more.Industry estimates that more than P1 billion in sales are turned over every year from the food cart businesses. With this amount, no doubt that Food Cart is the hot business in the market. If you have a nice cart, then the next thing to consider is Location. Location plays a big part in the success of your food cart or in any business for that matter. You have to think of a good location where a person frequents and can see what you are selling. But not all places cramming with people is a good venue just like MRT and LRT station. Lastly, you have to match your good location with the right product at a good price.
... the private ownership of business which allows market factors such as supply and demand to determine business strategy. Market systems: Clusters of countries ... over by the government. Tariff: A tax collected on goods shipped across national boundaries. Quota: A limit on the ... marketplace and selling it in another country. Importing: Bring a good, service, or capital into the home country from abroad. ...