Simplified feasibility study

If you want to implement a project, whether small or medium-sized, it is essential to conduct a simple feasibility study before implementation.

As you can see, a feasibility study is extremely important and can be called a guide, due to its great importance. Through it, you will learn about the size of supply and demand, as well as your competitors, the market situation, target customers, and the like. Therefore, we will present an easy feasibility study.

Simplified feasibility study

Simply put, a feasibility study can be defined as a study conducted by a project owner to understand the market conditions, costs, and profits. Therefore, a simplified feasibility study was created that consists of three basic elements:

Market study

It is considered the most important of the three stages, because through it you will learn the following:

• The volume of demand for all goods or the volume of services that you will provide in the project
• Also, know the size of the supply of goods or services that the project provides to you.
• The project's production capacity (which is the sales volume) will be determined based on the volume of supply and demand.
• Identify the target customers for the project's products.
• Knowing the needs and desires of target customers
• Competitors' activities, products, and prices in the target market.
• Opportunities you can exploit for your project.

As for how to conduct a marketing feasibility study, you can rely on one of the marketing research methods to gather all the information about the target market, as well as the targeted customers and competitors.

Technical study

The aim of this study is to understand all the technical aspects related to the project, which are as follows:

• Determine the location of the space as well as the specifications you desire, in addition to determining the costs of the project location.
• Determine the size of the workforce, its type and the specifications you want, in addition to determining the costs.
• The project's needs and costs must also be determined, whether equipment, tools, or supplies.
• Determine the project's needs and costs for services, including energy, water, and the like.
• Determine the project’s costs and needs for raw materials and production supplies (if the project is productive).
• Defining the production stages in detail (this also applies to production projects).

However, if you want to conduct a technical study for a small project, this is done through the following points:

• Find out the project site specifications through the licensing authority or via the Internet.
• Find out the rental costs by visiting the area where you want to implement the project, or find out the costs through the real estate website.
• Equipment and machinery costs by contacting companies that sell production lines.
• Determine employee salaries through job sites.

Financial study

This study is called the most critical stage of a simplified feasibility study, as it will help you determine the project's revenues and profits.

Based on this, an investment decision will be made, whether to implement the project or to cancel the idea itself. Here, this study is conducted through:

• Preparing the income statement for the project: Here you list the revenues and the value of the costs for a specific period, with the aim of determining the profit or loss for this period. This is done through: (the revenues you expect to sell the products, the extent of the operating costs, including rent, labor, raw materials, marketing, etc., and the net profit; which is determined by subtracting the operating costs from the revenues).
• Measuring the project's profitability: This depends on the results of the project's income statement. You need to determine the answer to this question: Do the results you've obtained indicate that the project will be able to generate high profits? Do the results enable you to cover expenses, whether in the short or long term?
• Calculating the investment costs of your project: Here, it is defined as the costs of fixed capital, to which are added the costs of working capital.

Ready feasibility study

It varies Ready feasibility study From one project to another, this depends on several points, including:

• Type of project to be implemented
• Project cost
• Materials needed for the project
• Equipment and tools
• Revenue, profits, etc.

Free ready-made feasibility study template

Here we present to you a ready-made feasibility study template, free of charge, that you can use in the project you are starting:

• General information about the project: Here you must first determine the name of the project, the name of the project owner, the project idea, the reasons that led you to choose this project, and the legal entity of the project, whether it is a company or an institution.
• Executive Summary: Here you should provide a general overview of the content of the feasibility study. It is best to write this point after you have completed all parts of the feasibility study.
• Description of service and products: You must provide an accurate description of the products or service you offer.
• Product or service market: Here you need to define the target group, your future competitors, the size of the total market, whether local or imported, the assortment of local and imported products in the market, and so on.
• Marketing strategies: Here, you must know what marketing methods you should use to suit all target groups, and how to stand out from your competitors.
• Technical Department: This department is responsible for determining the project location, whether it is suitable for all target groups, and determining the resources you will need to deliver the product or service and the tools you will use in the work.

feasibility

A feasibility study is a study conducted by the person who has an idea for a new project. This study makes the project successful. A feasibility study clarifies the required investments, the expected return, and the external influences on the project, including state laws, competition, technical and artistic developments, and the like.

economic feasibility study

It is a process based on collecting information about the proposed project and then analyzing it to determine the feasibility of implementation and reduce risks.

This will determine the success or even failure of the project when compared to the local market and its needs. Proper preparation for economic feasibility studies is one of the most important steps towards the success of projects, which is why an economic feasibility study is extremely important.

Agricultural project study

Considering an agricultural project will be a fun thing to do, especially if it fits with the needs and experience of many people in the area.

However, you should keep in mind that there are many different feasibility studies for industrial projects, so you can choose one of the following projects and implement it:

• dissolved project
• Cattle farm project
• Fruit jam manufacturing project
• Agricultural equipment maintenance workshop

As for the feasibility study, it was listed in detail in the previous lines. You can take a look at it and implement it.

Types of feasibility studies

You will find that feasibility analysis is based on assessing the project's potential for success. Therefore, perceived objectivity has become the primary factor determining the study's credibility for investors. The following are the types of feasibility studies:

• technical feasibility
• feasibility
• Legal feasibility
• operational feasibility
• Feasibility scheduling

Real estate project feasibility study

In order to conduct a feasibility study for any real estate project, you must determine some important points that the project requires, including:

• Determine the type of project you will implement.
• Gather enough information about that project.
• Specify alternatives to rejected data.
• Apply the results of the feasibility study

On the other hand, you will find that a feasibility study is a practical evaluation of a proposed plan or a project that you wish to implement, but in a specific way.

On the other hand, it's clear that the importance of a feasibility study for any project in general lies in determining whether the company, team, or even the project owner himself can fulfill the promise and achieve the objectives satisfactorily within an appropriate timeframe. That's why we've presented a simplified feasibility study.