Wyn Square is a confectionery that would be dealing with the likes of candies and pastries The name, Wyn Circle comes from the fact that the confections to be used will come from places around the world but mostly what will be made would be what is normally made in Nigeria. Others would come based on demand and trials. The business will be different from other businesses in the sense that no matter how many eateries and confectioneries exist in the whole world, people have different flavors of whatever they have and have different ideas of what shape or form the end product would take.
Can a feasibility report be converted to a small business plan? Well, I will advice you read on to find the answers you seek. Now there seem to be a mix up between feasibility study and business plan.
While some say they are the same, others argue they are not. So I want to use this medium to draw a line between a feasibility report and a business plan. Though the process involved in developing a feasibility report and a business are similar, I will reveal to you some basic difference between conducting feasibility study and writing a business plan.
A feasibility study is carried out with the aim of finding out the workability and profitability of a business venture. Before anything is invested in a new business venture, a feasibility study is carried out to know if the business venture is worth the time, effort and resources.
On the other hand, a business plan is developed only after it has been established that a business opportunity exist and the venture is about to commence. This simply means that a business plan is prepared after a feasibility study has been conducted.
A feasibility report is filled with calculations, analysis and estimated projections of a business opportunity. While a business plan is made up of mostly tactics and strategies to be implemented in other to start and grow the business. A feasibility study is all about business idea viability while a business plan deals with business growth plan and sustainability.
I hope this few words have been able to point out the key differences between feasibility study and business plan. To achieve this, all you need to do is incorporate your business strategies and tactics into the feasibility report; and you are good to go.Five Areas of Project Feasibility.
A feasibility study evaluates the project’s potential for success; therefore, perceived objectivity is an important factor in the credibility of the study for potential investors and lending institutions.
THE DUO FEASIBILITY STUDY A strong foundation for successful business development. A collection of studies, linked, evaluated and pooled in one complex bundle: our DUO FEASIBILITY STUDY - covering all commercial and technical information before your financial resources are allocated.
The strengths, weaknesses and validity of your assumptions, the operating model and cost / benefits . A feasibility study typically includes six sections or components: a description of your business, a market feasibility study, a technical feasibility study, a financial feasibility study, an organizational feasibility study, and your conclusions.
A feasibility study also addresses such important issues as where (and how) the business will operate. If done properly, your feasibility will provide in-depth details about all the various components of your business in order to determine if it can succeed.
A feasibility business plan is a study conducted prior to initiating a business plan. Whether you're an established business launching a new product or an individual with a new idea, a feasibility plan is that part of a business plan that will help you and your investors determine if your idea will thrive.
You can use this Feasibility Study template to perform a preliminary study to determine a project’s viability, analyze the problem and then determine if it can be solved effectively.