Feasibility Assessment

Will Your Business Idea Work?

A Feasibility Assessment will help you discover whether your business idea commercially viable and deliverable. So, this is something you should do before you invest in writing a business plan. For example, you may have developed a new product idea that you want to bring to market. In the process, you will come across some key questions you need answered. For instance, How large is the market? Is it practical to deliver? What resources do I need? Are they expensive? At what point will I break-even? How profitable will it be? So, a Feasibility Assessment will help you establish answers to these types of questions.

How TBPT Can Help - Feasibility Assessment

We help you decide whether your business idea is feasible. This will typically involve sourcing, analysing and presenting information. This includes, data on the industry, market, customers, key competitors. It also includes assessing competing products & services. Using this, you can establish how and where you can deliver the your product or service. In addition, we can help create a set of financial assumptions. We can then create a financial model to assess whether it is both profitable and sustainable. Combining these, we can create a written report and draw conclusions on its feasibility. So in short, we can help you gather the research, analyse it, and make a feasibility assessment for you.

Fees

Our fees are based on the time it takes. So, we can work to a fixed price or on an hourly rate. Our fees start at £1,500 for a top-level Feasibility Assessment. This includes a written review of your research material and a basic financial assessment. Naturally, more complex projects will cost more. As an example, this might include a more detailed research & analysis, or longer written report with graphs and charts. In addition, it might include deeper financial analysis, and suggestions for further research and analysis. Consequently, it really depends on the scope of work. Please note, we always agree a detailed scope of work and budget with you before we start.

Process

We start by taking a brief from you about your business idea. Following this, the process is often as follows:

1. Business Idea Research: This can cover the industry, market sectors, customers, key competitors, and competing products & services.
2. Practical Feasibility: At this stage, we review the challenges & risks in producing and delivering your product or service to market. From this, we draw conclusions on the practical feasibility of the business proposition.
3. Financial Feasibility: As a start, we will agree a set of financial assumptions about your business with you. Following this, we will build a financial model to get an indication of revenues, margins & profitability.

Timescale

Overall, the above process will give you an estimate of the potential commercial feasibility of your idea. And the timescale really depends on the scope of work you would like us to undertake for you. So, the process could take as little as 3 working days, but could run into 2 or more weeks or longer for more detailed projects.

To find out more, simply complete the contact form on this page, and one of our consultants will schedule a call with you.

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To enquire further about a Feasibility Assessment for your business idea simply complete the enquiry form below and one of our consultants will give you a call back.

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