A 9am to 5pm job is not a viable solution in the age of today. Nobody wants to live paycheck to paycheck and seeks for the extra means of survival. Starting up a business can help in the end if the idea is sound and profitable.
A feasibility analysis takes into account the relevant measures which indicate the whether an idea is likely to be a success or not.
Benefit and Purpose of Feasibility Analysis:
An idea looks great in mind or maybe on a piece of paper but with the help of this analysis, that particular ideas get a practical approach. An estimation of the budget, the income statements, and cash flows is always a good measure, which indicates whether a certain business seems profitable or merely is a waste of time and effort.
Financial Feasibility Analysis
The type of Analysis takes into consideration all the key indicators and provides the relevant recommendation because of their performance.
Project Feasibility Analysis
The Analysis for the projects Feasibility takes into consideration the various aspects or a certain project to make sure whether a company should consider it or not.
Economic Feasibility Analysis
Analysis of Economic Feasibility takes into consideration an idea from the perspective of an economy, that whether this idea should be favorable for the overall economy. The government policies, technological aspects and the location of the business are considered.
Product Feasibility Analysis
The Product Analysis as the name indicates make sure whether a certain product should be considered for a launch or not keeping in view the various potential perspectives while also highlighting the benefits and competition in the market.
Analysis for Business Feasibility
The Analysis for Business Feasibility takes into consideration the cost-benefit analysis, the various prospects in terms of opportunities for a business. It analyzes whether a business can or cannot be a success.
Analysis for Market Feasibility
This Analysis as the name implies takes into consideration the various marketing tools and opportunities available to an investor. It analyzes the realities of the market for the prospective business.
Organizational Feasibility Analysis
The Analysis of Organizational Feasibility considers whether a certain business has sufficient managerial experience to launch itself in the market by taking into consideration the resources as well.
Commercial Feasibility Analysis
The Analysis for commercial Feasibility takes into consideration whether a certain building is in line with Monolithic Dome process.
Hotel Feasibility Analysis
This Analysis as the name implies depicts whether the business model of the hotel is viable in the relevant market.