1. The Weekend Food Entrepreneur Contest is open to all residents of the Philippines – Filipinos or non-Filipinos, with duly registered food businesses.
2. The competition has two (2) categories – the Student Category and the Open Category.
3. The Student Category is open to all bonafide regular college and graduate school students, vocational school students, culinary school students who are at least eighteen (18) years old and above. At the time of entry to the contest, the students should not have a currently established business/start up that is older than three (3) months.
4. The Open Category is open to anyone above who is not currently employed in a management/executive capacity in a food or food-related business. At the time of entry to the contest, he/she should not have a currently established business/start up that is older than three (3) months
5. In each category, there is a minimum of one (1) person and a maximum of three (3) persons per entry.
6. One entry/application is counted per individual student/entrepreneur/group enterprise. The entry should not have won any other business plan competitions or competitions of a similar nature.
7. All staff and employees of Summit Media and Mercato Centrale Philippines, Inc. and their relatives to the second degree of consanguinity are ineligible to join the competition.
REQUIREMENTS, CRITERIA AND SELECTION PROCESS
8. The qualification is a two (2) step process. The first step is for participants to submit the following during “Taste Test” Days on September 17 to 19, 2012 from 3pm to 8pm, Venue is at Summit Media, 6F & 7F Robinsons Cybergate Center Tower 3, Robinsons Pioneer Complex, Pioneer St., Mandaluyong City:
a. Fully accomplished application form;
b. One 2×2 photo of each member of the team;
c. Food samples of their product enough for ten to twelve people.
9. The “Taste Test” entries will be evaluated by a joint panel from Entrepreneur Magazine, Yummy Magazine and Mercato Centrale Philippines, Inc.: RJ Ledesma, Anton Diaz, Leah Del Castillo, Liezl Yap, Frances Ang and Chad Rosario
10. The panel will choose a minimum of five (5) entries and a maximum of ten (10) entries per category.
11. Stage I: The participants will undergo a series of entrepreneurship classes in various business disciplines which include but are not limited to marketing, finance and accounting, food/restaurant management, weekend food market entrepreneurship.
12. Stage II: The participants will participate in the actual Mercato Centrale market for two (2) months from October 06 to December 08, 2012. They will be in the daytime Saturday/Sunday Morning Mercato for two (2) weeks, the nighttime Friday/Saturday Midnight Mercato for two (2) weeks, and the nighttime Soderno Friday/Saturday markets for four (4) weeks. The two (2) month period will give participants a better chance to refine and improve their products/services and food taste/quality/menu.
13. Stage III: After the two month participation in the market, the participants are to submit three (3) copies of their Business Plan in the recommended format. The recommended format for the said business plan can be found on Entrepreneur.com.ph
14. The text should be printed on letter size paper (8.5in. x 11in.), 1.5 spaced with Font Times New Roman. The Business Plan should not exceed ten (10) pages.
15. Stage IV: At the end of the challenge, the participants will make a short fifteen (15) minute presentation of their business plan along with a taste test of their food to a panel composed of representatives from Entrepreneur Magazine, Yummy Magazine and Mercato Centrale.
18. The participants will be judged 50% on the business plan and 50% on food.
19. The business plan will be judged by:
a. Creativity/uniqueness of the product (25%)
b. Profitability (25%)
c. Operational efficiency (25%)
d. Marketing (25%)
20. The food will be judged by:
a. Unique taste of food (25%)
b. ‘Yumminess’ of food (25%)
c. Presentation of food (25%)
d. Food booth appearance/presentation (25%)
- The first place winners can get between three (3) to six (6) month rent-free stay in Mercato and or Soderno (their choice).
- Cash prize worth PhP 100,000
- Other prizes courtesy of partners
- Feature/s in Entrepreneur and Yummy Magazines
Business Plan Template
Page 1: Cover Page
• Business name
• Business logo (if any)
• Business address
• Telephone nos.
Page 2: Table of Contents
Page 3: Summary
(Summary of key points of your plan)
Page 4: Business Overview
• Introduction, Mission-Vision, people behind the business
• Current position of the business
• Competitive advantage
• Growth plan
Page 5: Business Strategy
· Outline your business strategy for the next year, and the next 3 to 5 years.
· Describe business objectives and goals; make sure that they are specific and measurable.
Page 6: Marketing
• SWOT and critical success factors
• Market research
• Distribution channels
• Strategic alliances
• E-commerce and technology
• Promotion plan
• Marketing budget
Page 7: Team and Management Structure
• Skills, experience and training of yourself and key members of your team
• Advisors (if any)
• Management structure and systems
One thought on “Search for the Next Big Food Entrepreneur! (Official Mechanics)”
I like to join here, but I don’t know how will I do it. I love food, I always does. It is because of my love of food the reason why I started my Blog The Happy Traveler I also love traveling but it all boils down to food that’s why I travel. I want to join here, but I am afraid. My grandmother always won cooking contests on her younger years and now, I am just so chicken to follow her step. I have so many ideas for food business but lacking in budget. I don’t know what to do.