You have a business idea and want to know if it is feasible. It doesn’t make any difference if it is a product or service. A feasibility study will provide you with the discipline and insight to reassure yourself that your idea is worthwhile pursuing. Furthermore, if you need to finance the business, lending institutions and investors, typically require a feasibility study. The feasibility study evaluates the project’s potential for success. At Spark for Consulting and Training we have prepared feasibility studies for start-up companies, as well as, established companies seeking to introduce a new product or service.

Feasibility studies contain standard components. The exact appearance of each study varies. This depends on the industry studied, the critical factors for that project, the methods chosen to conduct the study – primary and secondary research, and the budget. Most studies have multiple potential uses, e.g. validate your assumptions, reassure investors and lenders that the proposed venture is economically viable, etc. so they must be designed to serve everyone’s needs.

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