Feasibility Studies

WHAT IS A Feasibility Study?

As the name implies, a Feasibility Study is an analysis of the viability of an idea. The feasibility study focuses on helping answer the essential question of "should we proceed with the proposed project idea?" All activities of the study are directed toward helping answer this question.

Feasibility Studies can be used in many ways but primarily focus on proposed business ventures. Our consultants help their clients who have a business idea in conducting a feasibility study to determine the viability of their idea before proceeding with the development of the business. Determining early?on that a business idea will not work saves time, money and heartache later.

A feasible business venture is one where the business will generate adequate cash?flow and profits, withstand the risks it will encounter, remain viable in the long?term and meet the goals of the founders. The venture can be a new start?up business, the purchase of an existing business, an expansion of current business operations or a new enterprise for an existing business.

Conducting a feasibility study is a fundamental business practice. If you examine successful businesses, you will find that they did not go into a new business venture without first thoroughly examining all of the issues and assessing the pro-business success.

Benfits of Conducting a feasibility study
  • Gives focus tthe project and outline alternatives
  • Narrows business alternatives
  • Surfaces new opportunities through the investigative process
  • Identifies reasons not tproceed
  • Enhances the probability of success by addressing and mitigating factors early on that could affect the project
  • Provides detailed SWOT analysis
  • Provides quality information for decision making
  • Helps tincrease investment in the company
  • Provides documentation that the business venture was thoroughly investigated for solicitation of financialinstitutions funding
  • Helps in securing funding from lending institutions and other sources