Feasibility studies are used to learn the achievability or the success rate of a proposed plan. In a feasibility study, we look into the client’s potential customers and determine what they want. The next step is looking into the competitor’s product/service. Then we research the market to see where your product would sell better, the market behavior, and how much market share you can expect. This way, you can minimize risk and maximize potential. If you are about to start a new business, you can use a feasibility study to earn investors by proving the achievability of your business venture.
