COYE Incorporated: Terminal year end report

• Main Authors: Carlos, Jose Ramil Gallardo, Jr., Escalona, Gabriel Luis Lee, Ocampo, Reeana Beatrice Legarda, Young, Seth Christian Young
• Format: text
• Language: English
• Published: Animo Repository 2022
• Subjects: Entrepreneurship; Spices; Entrepreneurial and Small Business Operations
• Online Access: https://animorepository.dlsu.edu.ph/etdb_dsi/33; https://animorepository.dlsu.edu.ph/context/etdb_dsi/article/1068/viewcontent/COYE_Inc._Terminal_Year_End_Report2_Redacted.pdf
• Institution: De La Salle University

Of all the ingredients that Filipino home cooks usually need in their pantry, spices are generally the hardest to find, since you can only find them in specialty stores or through wholesale sellers. Both of which are either expensive or lack quality overall. When you hear “spices”, no store really comes to mind. And because of that; the local market for spices and seasonings was largely underserved due to the lack of retail options. COYE Inc. wanted to solve this recurring problem that consumers like this regularly have. The company envisioned something that would provide utmost convenience, variety, and availability of spices for aspiring cooks. Thus COYE Inc. introduced Spice Corner. An online store that eliminated the hassle of sourcing spices from several individual retailers and instead provided the customers with the first online one-stop-shop for all their spice needs. Whether generic or rare spices are needed, Spice Corner will have it all. The company accomplished their goal of delivering a variety of spices to their customers by recognizing the value of creating original content, localized sales avenues and streamlined distribution channels to gain a better understanding of their market and create healthy relationships both with their clients and suppliers. Spice Corner even opened themselves up to making original spices to bring a more inventive spice game to the kitchen. This also included numerous holiday themed variety spice boxes which celebrated the importance of good food during the holidays and festivities of the customers. At the end of COYE’s operating period, with more than 24 spices offered, hundreds of customers served, a handful of sales channels and original content, the company was proud to report a positive post-tax ROI of 72.6% and more than Php113,000 in gross sales.