KENORA is here to assist you with your business idea and want to know if it is feasible. It’s a product or service. A feasibility study will provide you with the discipline and insight to reassure yourself that your idea is worthy pursuing. Furthermore, if you need to finance the business, lending institutions and investors, typically require a feasibility study. The feasibility study evaluate the project’s potential for success.

Feasibility study contains standard components that is required to make a sound financial decision. There are usually three components to the feasibility study, however depending on your business; technical analysis may not be required.

• Market Analysis
• Technical Analysis
• Financial Analysis

The market analysis should be conducted first because it is critical to the success of the business to understand the environment in which you will compete. There must be adequate demand for your product or  service. If not, your business idea may not be feasible and there is no need to go any further. Market analysis results in compiling information about the market potential. 

In addition to the market analysis, the financial assessment is a critical component of the feasibility study. Without the “financials” it will be impossible to determine how feasible the business idea is. Included in the financial assessment is revenue and income projections for the first year along with start-up costs to determine how much funding your business will need. 

KENORA has provided several studies on a wide array of project types. Studies include: economic, market, technical, financial and team involvement in the company.