Evaluasi Kelayakan Finansial Usaha Jangek Nando di Kelurahan Tegal Sari Mandala II, Kecamatan Medan Denai, Kota Medan
DOI:
https://doi.org/10.37481/sjr.v9i4.1766Keywords:
Financial Feasibility, Net Present Value, Investment Analysis, Sensitivity Analysis, Small EnterpriseAbstract
Small enterprises often face difficulties in assessing financial performance because systematic financial records are unavailable. This study evaluates the financial feasibility of Jangek Nando, a beef-skin cracker business in Medan, Indonesia, which has operated since 1989 without comprehensive financial bookkeeping. Using a descriptive quantitative approach, the study draws on direct observation and discussions with the business owner. As historical financial records were unavailable, several operational figures were estimated based on assumptions agreed upon by the research team. The analysis covers a five-year project period using Net Present Value (NPV), Internal Rate of Return (IRR), Payback Period (PP), and Profitability Index (PI), complemented by sensitivity analysis. With an initial investment of IDR 193,960,000 and a 10% annual discount rate, the results indicate an NPV of IDR 253,398,410, an IRR of 45.28%, a payback period of 2.17 years, and a PI of 2.31. All four indicators suggest that the business is financially feasible under the assumptions applied. The NPV remains positive at IDR 147,595,902 when the residual value is excluded. However, the business is more sensitive to declining revenue than to increasing operating costs, with the NPV reaching zero when revenue decreases by approximately 16.9% or operating costs increase by 21.9%. These findings highlight the importance of systematic financial recordkeeping and maintaining sales stability to support informed business decisions.
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