A feasibility study looks at the viability of your idea with an emphasis on identifying potential problems and attempts to answer one main question: Will the idea work and should you proceed with it?
Before you begin writing your business plan you need to identify how, where, and to whom you intend to sell a service or product. You also need to assess your competition and figure out how much money you need to start your business and keep it running until it is established.
Feasibility studies aim to objectively and rationally uncover the strengths and weaknesses of the existing business or proposed venture, opportunities and threats as presented by the environment, the recourses required to carry through, and ultimately the prospects for success. As such, a well-designed feasibility study provides a historical background of the business or project, description of the product or service, accounting statements, details of the operations and management, marketing research and policies, financial data, legal requirements and tax obligations.
We can prepare your feasibility study based on our Methodology and the following basic Keys Main components – (TELOS)
- Technology and system feasibility
- Economic feasibility
- Legal feasibility
- Operational feasibility
- Schedule feasibility