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

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

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

Feasibility studies can be very time-consuming and inexpensive.

There are 8 steps to a feasibility study

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

Startup costs might include the purchase of land, buildings, equipment, tools, licenses, permits, initial promotion, etc.

Using the U.S. Small Business Administration is a good source to aid in your market analysis

Market analysis is defined as:

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

____is an organized inquiry into the possible success of a business idea or venture

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.

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