A feasibility study is defined as an evaluation or analysis of the potential impact of a proposed project or business. It is conducted to assist decision makers in determining whether or not to implement a particular project or business. It is based on extensive research, contains wide ranging data and have clear supporting evidences. It is an investigating function which outlines and analyzes several alternatives and it is primarily conducted before business plan.

Business feasibility holds significant credit in the success of business as it gives,

  1. New ideas through the investigation process and identifies reasons not to proceed in project or businesses.
  2. Enhances the probability of success by addressing and mitigating factors early on that could affect the project or business.
  3. Provides quality information for decision making.
  4. Gives focus to the project or business & outline alternatives. Also, narrows the business alternatives.
  5. Provides the documentation that the business venture was thoroughly investigated.

There are several dimensions of business viability which are studied for the certain kind of project or business in a unique way. The important dimensions of the project are

  1. Business Feasibility- It is studied with the help of popular management tools which will analyze the different aspects of the business. (such as economic, political, social, technological, position of the business and many more.)
  2. Market Feasibility- It will deep learn the eco system of the industry and provide essential market insights, dynamics and market size and potential.
  3. Technical Feasibility- Thorough analysis of the product and operations with maximum possible optimization will be given in this part of the report.
  4. Financial Feasibility- Finance for and of the business is discussed under this section with estimated figures.
  5. Sales and Marketing Feasibility- Distribution channel and competition will be discussed under this section with key insights.
  6. Supply Chain Management- This section provides information of the integral and important part the business.

Few other dimension along with earlier mentioned will be discussed under this report. We will also provide our own, MBP’s analysis for your project or business. It is estimate that amongst five ideas only one is commercially viable, such that to safeguard against the wastage of investment or resources it is necessary to check the business feasibility. If a business is seen feasible from the study, the next logical step is to proceed with the full business modeling and planning.