Learn How to Present a Completed Feasibility Study
A comprehensive business feasibility study contains detailed information about your business structure, your products, and services, the market, logistics of how you will deliver a product or service, the resources you need to make the business run efficiently, as well as other information about the business.
How to Assemble Your Feasibility Study
How you present, your final study is just as important as the information it contains. If you have a lot of material put it in a portfolio or binder. Finding information easily and quickly is important to busy lenders and investors, so include tabs (type them it at all possible) to indicate each component in your study.
Cover letters should not be generic but should be individualized depending upon with whom you are submitting the study. Before you submit your study, have someone else proofread it for you to check for content and errors. Typographical errors will make your study appear rushed or unprofessional, and if your descriptions and calculations do not make sense to the reader they are worthless.
Although you write your conclusion last, it serves as a summary of all the detail in your study. You can place it at the end of your document (before any exhibits and attachments), but placing it first (after the table of contents) sets the tone and identifies key issues for the reader to be aware of even before they read the rest of the study.
The following is a checklist of components that should go into your complete feasibility study.
- Cover Letter
- Cover Sheet
- Table of Contents
- Description of Your Business (what you do, a list of products or services, and how you deliver products or services)
- Feasibility Study Conclusions
- Market Feasibility Study
- Organizational Feasibility Study
- Technical Feasibility Study
- Financial Feasibility Study
- (Optional) Legal Risks Feasibility Study
- Attachments (spreadsheets)
- Exhibits or Appendices (statistics, graphs, examples, literature, contracts, samples, etc.)
Points to Remember
- A feasibility study is a process in which you look at an idea to see if it is "feasible," that is, if and how it will work.
- A comprehensive feasibility study looks at the entire structure, needs, and operations of a business.
- A limited or project feasibility study looks at one specific task, program, idea, or problem.
- A feasibility study looks at both sides, considering pros and cons, and troubleshoots potential problems.
- A feasibility study is not a business plan but serves as a foundation for developing your business plan.
- A market feasibility study is not a marketing plan, but studies markets and market potential, and can be used to support or develop a marketing plan.
- In addition to a business plan, an investor or lending institution may require you to submit a feasibility study before considering your request for capital.