A feasibility study is an evaluation of a proposed project or business idea to determine if it is viable, practical, and worth pursuing.

A feasibility study typically includes research and analysis of market demand, competition, financial projections, resource availability, and potential risks, among other factors.

Most USDA feasibility studies typically include economic, marketing, technical, financial, and management feasibility analysis. For some studies, safety conditions and food supply chain factors are analyzed.

A feasibility study is necessary when considering a new project or business idea. It is a critical step in the planning process that helps determine whether the project or business idea is viable and worth pursuing. A feasibility study is especially important when the project involves a significant investment of time, money, and resources, and when there is a high degree of uncertainty or risk involved.

For this reason, most investments supported by new market tax credits or USDA loans, as well as certain types of USDA grants, require a feasibility study as part of their due diligence process. A feasibility study is necessary when considering a new project or business idea. It is a critical step in the planning process that helps determine whether the project or business idea is viable and worth pursuing. A feasibility study is especially important when the project involves a significant investment of time, money, and resources, and when there is a high degree of uncertainty or risk involved. It is essential to conduct a feasibility study before making any substantial commitments to ensure that the project is viable and has a good chance of success. Additionally, a feasibility study may be required by potential investors or lenders as part of their due diligence process to determine the viability of the project or business idea.

A well-conducted feasibility study can provide potential investors or lenders with evidence of market demand, financial projections, and a realistic budget and timeline. This can help you secure the funding you need to get your project off the ground.

A feasibility study is best conducted by a team of experts with experience in market research, financial analysis, engineering, operations, and management. Consulting firms such as August Brown are comprised of consultants, analysts, and other professionals who can provide objective analysis and insights.

The timeline for a feasibility study can vary depending on the scope and complexity of the project, as well as the availability of data and resources. Typically, a feasibility study can take three to six weeks to complete.

The results of a feasibility study can help you identify potential problems and risks, as well as opportunities for improvement. You can use this information to refine your project or business idea, adjust your budget and timeline, and develop strategies to mitigate risks and maximize success. The results of a feasibility study can provide valuable insights into the viability of a project or business idea and identify areas for improvement and risk mitigation.

A feasibility study can help you identify and navigate the specific regulations and requirements that may affect your project. This can include zoning laws, building codes, environmental regulations, and other legal and regulatory considerations that can impact the feasibility of your project.

Any industry or sector can benefit from a feasibility study, from real estate development to agriculture to advanced manufacturing. Feasibility studies are particularly valuable for projects that require significant capital investment or have a high degree of risk.

The cost of a feasibility study can vary depending on the scope and complexity of the project, as well as the level of research and analysis required. Contact us and we will provide you with a custom quote.