Feasibility Study Dubai
Before investing in any new business, product, or service, it is essential to evaluate the practicality of the proposed project and evaluate its strengths and weaknesses. Our feasibility study consulting service for businesses based in Dubai and Abu Dhabi investigates and assesses the feasibility of your business idea and challenges that it may come across in the future. A business feasibility analysis is a necessity if you want to make an informed move into an investment venture or to convince investors about the viable nature of your project. Our team is composed of consultants with several years of industry experience who can work with you and provide the needed guidance on how to develop the right solution for your start-up business venture. For each project, we strive to work closely with our clients to achieve mutually agreed objectives in a cost-effective manner within the stipulated time frame. Over the years, we’ve provided investors and businesses from multiple backgrounds and industries with definitive feasibility study reports. To know more about our company and how we can help prepare a feasibility plan for your business entity to be more profitable, reach out to us on 971-50-914-9457.
Our Feasibility Study Service Inclusions
The first step in conducting a feasibility plan is to understand your product, target market, and potential customers. We evaluate whether your business proposal is feasible by analyzing the products and services that are currently on offer with your overall business model and method of delivery.
Market feasibility is conducted to understand the dynamics of the market of operations, the competitive landscape, and the product positioning in that market from both quality and pricing perspectives. From supply and demand gap analysis to market supply gap analysis and market surveys, we ensure that you have a meaningful understanding of your product's market feasibility.
In any business feasibility plan, the technical feasibility study is a must as it can help you organize information within your company correctly, increase its overall transparency, and highlight specific risks to the proposed business in terms of credibility, marketability, and business growth. We make use of business analysis processes such as SWOT analysis to ensure that all the technical factors related to the project are properly identified.
The financial feasibility of a business must be conducted once it’s clear that the planned project can indeed capture the market. We conduct financial feasibility of a project to evaluate the commercial profitability of the plan, cash flow projections, capital expenditure forecasts, and sensitivity analysis.
After identifying the financial feasibility, it is necessary to evaluate its environmental-impact and whether it can gain the required approvals. Such a feasibility study can prove helpful in optimizing your overall project framework, cut down on costs, and improve its performance.
Benefits of Conducting a Feasibility Study
Feasibility study and subsequent planning based on the report is a necessity for businesses that wish to ascertain the success of their business plans before committing their resources. This report will then also include any cost that may be incurred by the company. Additionally, feasibility reports can also help to discover new ideas that can change the project’s scope. Listed are some of the significant advantages of conducting a feasibility study:
Boost the Teams’ Morale and Focus
Helps to Identify New Avenues of Business Growth
Provides a Valid Reason to Undertake the Project
Gain a Competitive Advantage within the Market
Enhances the Potential Success Rate
Understand Possible Challenges You Face
How Is A Feasibility Study Conducted?
As mentioned, business feasibility study help you determine the time and money involved, the market potential, and other factors that will lead to whether a project is feasible to perform or is a no go. Below are a few steps involved when conducting feasibility plan:
Feasibility studies for any business is often a time-consuming and daunting process, with no compromise on the cost incurred. For this purpose, it is vital to start the process with a preliminary analysis. Apart from understanding whether you have the technology and resources required to get started, you will also need to calculate the project’s return on investment. If there appear to be no constraints during the process and the plan appears to be most feasible, you can then proceed determine the feasibility of the proposed project.
Outline the Scope of The Project
Now that you have a basic understanding of the plan, you can then proceed to outlining the scope. It will entail the five essential factors, such as feasibility, legality, operationality, duration, and financial viability. Once you’ve answered these questions, you are offered a better perspective over the plan. You are also able to identify any issues, therefore being able to comprehend your vision, estimation, and time required.
Conduct A Market Research
Through comprehensive market-analysis, you can identify other opportunities in the market, get better insights of your proposed project, detailed information about the market of your plan, identify your potential market, and infer whether the project has worked earlier or not. While there are several approaches in this step such as market survey, these are our key pointers to note.
Irrespective of the proposed plan, oftentimes, it is the financial aspect that reduces . That said, when evaluating the feasibility of these estimates, there are a couple of considerations to bear in mind. It involves knowing the source of funding, the costs involved in the event of failure, the uncertainties that could place an undue financial burden, the break-even point, and the costs involved in completing the project.
Final Report Presentation
It is at this feasibility stage where you present to your stakeholder or board members a compilation of the complete feasibility study. Ensure all the five pointers discussed above have affirmative responses, so you are assured of the green signal. However, if there are a few issues, take it as an opportunity to reassess those areas.