042 ENTREPRENEURSHIP
Brunswick High School
Study Guide (Chapter 3), Definition, and Notes
Topic : Feasibility Analysis
Unit 3 Feasibility Analysis
Feasibility - Is the process of determining whether a business idea is viable. Do your research to
make sure that it is feasible.
When To Conduct a Feasibility Analysis
●Timing of Feasibility Analysis
- The proper time to conduct a feasibility analysis is early in thinking
through the prospects for a new business.
Forms of Feasibility Analysis
●Product/Service - Do the customers want that item? Environment trend,
solve a problem, a gap in the marketplace. Is it a good time to sell or make the
product? Fatal flaws. (Demand or Desirability)
Concept Test
●A concept statement should be developed. A one-page description of a
business concept to get feedback from others to help a potential business
idea. A sense of viability of the product or service.
Talking Face - to - Face with Potential Customers
●Gauge customers reaction
●Revice, tweek, and improve on the idea based on the feedback.
The Use of Technology
●Market Research
Industry/ Target Market Feasibility Analysis
●Industry Attractiveness - Young or old, is it early rather than late in their
life cycle , growing then shrinking, crowded or not (pizza del.), low operating
margins (low cost - pizza place)
