2.04 Feasibility Study

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Feasibility studies can prevent businesses from wasting valuable time and resources on unfeasible (difficult, impractical, or impossible) ideas.

When using a market analysis you should include the following: 1. A current description of the industry a. How big is the industry? b. Whom does the industry serve? c. What are some current trends within the industry? d. What are the main metho

Feasibility studies can shed light on the optimum timing for business ventures to take place.

Market analysis is defined as:

The purpose of a feasibility study is to determine whether or not a particular venture can succeed

To say 'We plan to open a new bakery in Springfield' is a good way to write a description of the proposed project or venture.

A well-executed feasibility study is: 1. Organized 2. Articulate (clearly expressed) 3. Focused 4. Flexible 5. Timely 6. Reliable

Feasibility studies can be very time-consuming and inexpensive.