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A “feasibility study” can be defined as a controlled process for identifying problems and opportunities, determining objectives, describing situations, defining successful outcomes and assessing the range of costs / benefits associated with a project.
It is conducted during the delibera6on phase of the business development cycle prior to commencement of a formal Business Plan. It is an analytical tool that includes recommendations and limitations, which are utilized in the decision making process.
The “Business Feasibility Study, BFS” is mainly used to support the decision making process based on a cost-benefit analysis of the actual business of project viability.
It is estimated that few ideas are actually commercially viable.
Then a BFS is an effective way to safeguard against wastage of further investment or resources.
If a project is then feasible, the next step should be moving to a Business Plan.
Some of the Factors Our Analysis Address
Market Size and Customer Potential
Competitor & Territory Analysis
Target Market and Pricing Considerations
Import Duties, Customs and Tax Analysis
Distribution Structure Options
Business Plan and Strategy Consultancy
Once Feasibility Study is OK, then Business Plan ...
A business plan is a written description of your business's future, a document that tells what you plan to do and how you plan to do it. If you jot down a paragraph on the back of an envelope describing your business strategy, you've written a plan, or at least the germ of one.
Business plans are inherently strategic.