Feasibility Study – Is Your Business Venture Viable?
An unbiased feasibility analysis helps you to find out if that business idea makes sense. Determine the likelihood of success before committing time and money. Make an informed go/no-go decision about what to do next.
We’ll conduct a comprehensive feasibility study that includes a review of all facets that play a key role in its viability.
We’ll give you our unbiased, professional opinion on the viability of the business initiative. If your idea has merit, we’ll tell you. If it does not, we’ll tell you as well.
The feasibility study highlights your idea’s strengths and weaknesses. You’ll get recommendations about what to improve to increase the chances of success.
Informed Go/No-Go decision
With the results of the preliminary study you’ll be able to make an informed go/no-go decision about what to do next. Basically, there are three options:
- Moving to the next phase – This could include for instance, starting formal business planning or continuing with product development.
- Improving the viability – If the business idea is salvageable, the feasibility report will include recommendations about what to fix to improve its viability.
- Abandoning the project – If the venture does not make any business sense, it’s probably best to walk away.
When To Conduct a Feasibility Study
- Starting a new business – What are the strengths and weaknesses of the new business? Does it make economic sense?
- Developing a new product – Is there sufficient demand? Can it be sold at a profit?
- Entering a new market – Is the market big enough? How about competition?
- Making a significant investment – Is this investment going to show an ROI? What are the funding sources?
- Considering a merger or acquisition – Does it make business sense? Are economies of scale really achievable?
What Does a Feasibility Study Include?
A feasibility study covers all those aspects of the new venture or business idea necessary to make an informed go/no-go decision about how to move forward.
Each feasibility study is custom-tailored to the specific situation, but typically it includes topics such as:
- Business goals
- Products and services
- Market demand
- Sales and Marketing
- Revenue forecasts
- Break-Even analysis
Thinking about a feasibility study of your business venture?
Contact us for a free, no-obligation consultation.Let's Talk