Business Plans & Feasibility Studies
A feasibility study report is a planning tool similar to a business plan. The key differences are:
- A feasibility study or report is carried out with the aim of finding out the viability and profitability of a project. Before anything is invested in a project, a feasibility study is carried out to know if the project is worth the time, effort and resources.The feasibility study explains if the a project or projects within the business will be viable while a business plan describes how you want to run the overall business (reasons and strategies).
- On the other hand, a business plan is developed only after it has been established that a business opportunity exist for the project or projects to be undertaken by the company. A feasibility study is all about business idea or project viability “Will this project work?”while a business plan deals with tactics, strategies, business growth plan and sustainability “How will this work?”. This simply means that a business plan is prepared after a project feasibility study has been conducted.
- A feasibility report is filled with calculations, analysis and estimated projections of a project(s). While a business plan is made up of these and also tactics and strategies to be implemented in other to start and grow the business.
- A feasibility study reveals the profit potential of one or more projects to the entrepreneur or other stakeholders, while a business plan co-ordinates the tactics and strategy to achieve the profit potential and helps the entrepreneur raise the needed startup capital from investors. This means that you will need to include the business tactics and strategies to convert feasibility reports into business plans.
We offer business plans and or feasibility studies as combined or stand alone reports. Our Feasibility Studies are well designed and cater to the most discerning audience ad include information on:
- Description of the Project: Identification of the list of product(s) or services(s) to be marketed and the general business model such as how the business will make money. It includes the technical processes, size, location and kind of inputs.
- Market Feasibility: Description of the industry, industry competitiveness, market growth drivers and potential, sales projection and access to market outlets.
- Technical Feasibility: Find out the factory needs, suitability of production technology, availability and suitability of site, raw materials and others such as labor availability and qualified management personnel.
- Financial Feasibility: Include the estimation of total capital requirements, equity and credit needs, budget expected costs and returns of the project.
- Management Feasibility: Identify the business structure and business founders.
- Conclusion: Include information that will be used for decision making whether to proceed with the proposed business ventures.
The combined Business Plan and Feasibility Study is delivered as 100 or more pages of text with graphics and it includes all the topics listed above under the feasibility study with added sections on Market strategy and risk management.
If you prefer a shorter and more graphics based report, an investors’ pitch deck will be a better alternative. Read more about it using this link .