Feasibility Study:
“An analysis and evaluation of a proposed project to determine if it is technically feasible, if it is feasible within estimated cost and if the project will be profitable”.
“An analysis of the ability to complete a project successfully, taking into account legal, economic, technological, scheduling and other factors”.
Rather than hoping for the best, a feasibility study allows managers to investigate the possible negative and positive outcomes of a project before investing time and money.
Before you begin writing your Business Plan EcoActive 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.
EcoActive focuses on:
- Description of the Business: The product or services to be offered and how they will be delivered
- Market Feasibility: Includes a description of the industry, current market, anticipated future market potential, competition, sales projections, potential buyers, etc.
- Technical Feasibility: Details how you will deliver a product or service (i.e., materials, labor, transportation, where your business will be located, technology needed, etc.).
- Financial Feasibility: Projects how much start-up capital is needed, sources of capital, returns on investment, etc.
- Organizational Feasibility: Defines the legal and corporate structure of the business
- Conclusions: Discusses how the business can succeed. Be honest in your assessment because investors won’t just look at your conclusions they will also look at the data and will question your conclusions if they are unrealistic