Feasibility Studies

VA FAIRS creates independent and objective feasibility studies designed to identify the strengths and weaknesses of an existing or proposed business, venture, or idea. Each study analyzes the opportunities and obstacles based on the industry environment and available resources. All studies include a full financial model and projections, industry overview, and competitor highlights.

A feasibility study is an important step in the formation or expansion of a business idea, especially those requiring significant capital or infrastructure, such as a farm brewery, creamery, commercial kitchen, processing facility, or similar venture.

Studies help determine whether a venture is worth pursuing through several key components: analysis of the best structure and implementation of a business or idea, help in planning a project, an in depth description of the project and its proposed implementation, in depth evaluation of the project as a whole, and risk assessment through the use of scenarios.

A typical study takes about 500 hours to develop and includes the following:

  • A definition of the business idea or venture
  • Analysis of the relevant industry
  • General operating procedures of the venture
  • Implementation plan
  • Analysis of market competition
  • Risk considerations
  • Financial model analysis
  • Scenario analyses (assumptions) based on varying factors affecting success

From these components, the Consultant(s) conducting the study gleans observations, recommendations, an in depth understanding of the venture, and the factors affecting its success or failure. In addition, a feasibility study will analyze the business as a whole and provide possible solutions to obstacles that are identified throughout the process.

Feasibility studies can be key in securing funding for a venture. Many grants require the submission of a feasibility study as part of the grant application process. Additionally, feasibility studies can serve as an independent assessment of a business proposal to potential investors and lenders, providing insight into a proposed venture’s assets, cash flow, projected returns, and economic benefits, as well as industry background information.