Clients intending to set up a new business or expanding an existing one need sound and realistic feasibility studies to assess the viability of the project. Generally, a comprehensive feasibility study comprises a technical feasibility, market feasibility, economic feasibility and a financial feasibility, the depth of the study depends on the scope determined by a client.
We at MHSS offer the following types of feasibility studies.
When analyzing the feasibility of manufacturing a product or providing a service, our team researches various aspects of the product or service, including its technical feasibility, to ensure that the business has the necessary resources to support it. A company must consider if a product can be manufactured and delivered using the company’s manufacturing and shipping resources, or if a technological upgrade or implementation of new technology is required. The company must also determine if its personnel have the requisite skills to produce and transport the product, or to provide the service in an optimum way. Our team of experts ensure all technical areas of the feasibility study are examined in detail so we can provide you with sufficient detail to make a sound decision.
A company’s product must experience market success to earn revenues. Before starting to a service or product, our professional team members first conduct the service or product demand and calculate the product probable market share. We work alongside our clients to gather a description of the business entity’s industry, protentional share, sales revenue for the period of interest and competitors. Our experts recommend to business entity to introduce a new product line for an established market, improve an existing product for established market, create a product to supplement an existing product and target a new market with an existing product.
Before launching a new service or product, business entities must complete homework that the product’s or service expected rate of return is sufficient to cover production costs and to earn a profit. Our firm helps our clients to calculate various break-even points based on sales volume and costs and based on different unit prices. In so doing, we determine whether the product or service will earn sufficient profit margins to make investment worthwhile. The evaluation work performed determines if the business entity proceeds with the undertaking. If so, our experts make efforts to identify financial resources for development of the product or service and remain alongside with our client on every step of the way.
Financial Feasibility and Business Plan:
Financial Feasibility Study provides the vital financial numbers that enables the investor to take the right decision. Financial projections based on reliable financial information properly worked out and analyzed contributes a very useful decision-making tool in the hands of an investor. It consists of wide range of thoroughly analyzed financial statements. Business Plan describe the promoters’ details, their background and track record, objectives of the project, the firm’s mission statement, description of the firm’s products and services, firm’s location, profile of human resources, the firm’s organization chart, competitive edge, marketing strategy, market trends and market share analysis, sales forecast, operational expenditure forecast, project financing proposal, investor returns, use of different financial models and techniques and the firm’s future Outlook.
Other Feasibility Studies:
In addition to considering the above-mentioned feasibility studies of a service or product, a business entity might also conduct other feasibility studies including managerial and environmental feasibility studies. A managerial study determines whether the management team has the capabilities and commitment required to introduce a new and successful product or service. An environmental feasibility study determines the environmental impact of construction of a manufacturing facility and product of the new product, legal consequences and risk of negative consequences of the production.
We would be delighted to discuss how we can help you, and your group or company. Please get in touch and contact MHSS at [email protected] or alternatively, contact our office directly.