Because nearly 40% of businesses fail in the year they are established, and only 10% of ideas for the establishment of new businesses are feasible, considerable losses can be avoided if a business is researched before it begins. This research takes the form of a feasibility study.
A feasibility study represents the first look at the enterprise in the business planning process. If the project is deemed feasible, much of the information gained during the feasibility study phase is used in developing the business plan itself.
In investigating the feasibility of a business idea, we are interested in three things:
Is the product or service proposed to offer technically viable?
Can it be sold in sufficient volume at a sustainable price, i.e. is there a market for it?
Is it financially or commercially viable, i.e. can it be sold in sufficient quantities at market prices to make a profit?
OBS can assist you in preparing a written feasibility study, giving you a healthy dose of reality in determining the success of a business.
For more information, just send us an e-mail
or phone us on (07) 5497 4484
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