These days, businesses operate at a very fast pace. Both client demands and competitive pressures are increasing. Companies are always looking for new methods of creating products, developing marketing strategies and devising new policies to generate revenue. However, this can only be done if the individual and the business conduct feasibility studies before introducing a new project. We provide professional feasibility studies in all key business areas. Our consultants in the United Arab Emirates will recommend to you all the possibilities to succeed or fail with your newer proposals.
What is a Feasibility Study?
A feasibility study is conducted to evaluate whether a project is feasible for a business. The idea is evaluated based on various considerations to assess the success of the proposed idea. The feasibility study ensures effective control of the business and indicates the profit margin of the project.
Without carefully exploring the feasibility of your ideas, you will lead to many financial mistakes. Feasibility studies are therefore carried out to assess market competition, cost and income projections, target viability and many other factors necessary for the project development.
Important Elements of a Feasibility Study
Below are the phases to establish the feasibility of a project
Market Analysis
In this phase, the situations of the market are thoroughly studied, including the analysis of dominant and future market conditions, the prevailing market players are recognized and to bridge the gap, their strengths and shortcomings are determined. The product/service you want to introduce is compared with the existing products/services, distinguishing features that create a competitive edge over the existing products / services is understood and analysis is made of whether your product/service solves any ‘need’ of the market.
Financial Study
This phase of a feasibility study revolves around the analysis of below:
- start-up costs
- operating cost legal costs
- capital expenditure
- fixed and variable cost
- profitability and expected ROI
- financing methods and costs related to the financing options
- customer and supplier payment terms are also determined to ensure healthy cash flow
Technical Aspect
In this phase, the essential resources for the company are analyzed. The requirements of hardware / Software, availability of Capital investments and whether a change can be accommodated with the capital being invested are some of the most important aspects in this phase.
Schedule
At this stage, the time frame for organizing the business is decided. An achievable business plan must be developed within a set time frame as the market is very active and the business plan should be set to reality within the stipulated time frame to meet the company’s goals.
Do feasibility studies add value to your business?
In-depth feasibility studies can determine potential problems and hazards. It delivers an outline of whether the project will be successful or not in the long term. It helps you to understand the financial, operational and other organizational impacts after all factors have been taken into account. Well-researched project execution has a better chance of success and revenue. With a feasibility study, you have the chance to control customers by indicating the statistical and graphical projection of the analysis. As a result, your business will gain more value and investors will have more confidence to invest in your company.
In order to carry out a proper financial feasibility study, you need to use a business consultancy or a service to get an independent opinion on your project. We have comprehensive experience in developing business plans and carrying out feasibility studies.
Benefits of hiring experts for feasibility study services in the UAE
Our feasibility study services offer a variety of excellent benefits to individuals and organizations. Some of these include:
- Increases chances of success
- In-depth insight into various parameters
- Better decision-making
- Identification of new opportunities
- Helps to choose the right direction
- Reduces risks and financial losses
- Narrows business plans
- Gain competitive advantage
How do our feasibility studies service works?
Alberts offers exclusive feasibility study services across the UAE. Our team has outstanding expertise and takes a critical look at the influencing factors. When we undertake a feasibility analysis of a project, we first try to comprehend its business plan, business potential, and other technical aspects. We conduct in-depth market research and explore customer behavior about your brand and the products or services you offer. Our experts provide extensive reports and presentations to business investors. We also develop spreadsheets and financial charts to help you apprehend the likelihood of success and failure. We guarantee that the information we have researched gives you the confidence to participate in the project.
What are the benefits of our feasibility study approach?
Deep industry experience and understanding of the markets give our clients valuable insight into the main factors driving the markets. Such an understanding of the market enables you to make precise business decisions and provide services of high-quality standards, tailor-made according to your needs, with the purpose of leading you to complete success.
For top-notch feasibility study services in UAE, Contact us.
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