How to do a feasibility study of a potential investment
What is the feasibility of my investment?
Is there a real need to perform a feasibility study or can we rely on our instincts? How often do we really check the feasibility of an investment? The goal of a study is not only to check the viability of a project but also to determine potential positive and negative outcomes before investing a significant amount of time and money into it.
Doing the feasibility study, we are forced to consider various factors affecting the future business of the operation that we might not encounter otherwise. Feasibility studies also allow a business to address how it will operate, potential obstacles, competition and the funding needed to get the business up and running.