My business is attached – please use it for the below:
Complete a feasibility analysis worksheet for 2 different businesses ! (yours and a competitor or two competitors in your area of interest).
Use the worksheet starting on page 38 / 39 (both sides) as your guide. Upload a Document file (MS Word, RTF..No PDF) with your work.
Complete this worksheet after conducting your initial research to identify which areas of your business and your competitor are the strongest and which are likely to present major challenges. Rate each of the following areas on a scale of 1–10 — with 1 being “not at all” to 10 being “completely.” The higher your scores in each area, the less risk you are likely to face. Those areas with very low scores are likely to make it more difficult for your business to be developed and, ultimately, successful. You will need to spend more time on those areas as you develop your complete business plan.
Who was the competitor? What industry? Describe your findings and opportunities.
Your Industry
________ Is economically healthy.
________ Is new, expanding, or growing signficantly.
________ Is characterized by a large number of competitors rather than a few entrenched, large companies.
________ Is able to withstand downturns in economic cycles.
________ Has positive forecasts for significant growth in the immediate future.
Your Product or Service
________ Is proven and not unique.
________ Is already in demand.
________ If unique, there are significant barriers to keep others from competing with you.
________ Is currently developed or can be developed in the near future.
________ Has a clear source of suppliers for the necessary materials or inventory.
________ Can be produced at a cost significantly lower than the future sales price.
________ Is not burdensome — in terms of cost or time — for new customers to convert to.
________ Is consumable — meaning customers will use your product or service repeatedly.
Your Market
________ Is clearly identifiable.
________ Is large enough to be able to support your business.
________ Is small enough to be able to be reached affordably for marketing purposes.
________ Has shown it is already interested in your product or service.
________ Is growing.
________ Has forecasts for significant growth in the immediate future.
________ Has existing sales channels to sell to your customers.
Your Competition
________ Exists.
________ Is clearly identifiable.
________ Has market share that is widely distributed and is not dominated by a few major companies.
________ Does not have deep pockets to come after you.
Your Operations
________ Does not entail significant initial capital investment.
________ Does not require the purchase of substantial, expensive inventories.
________ Does not require new or unproven technologies.
________ Is not reliant on one or two suppliers or distributors.
________ Does not entail unusual production or operational challenges.
________ Has a ready source of skilled labor.
________ Does not require expensive insurance or entail significant liability.
Your Leadership Abilities
________ You have started or run a company previously.
________ You have had training in entrepreneurship and/or business management.
________ You have previous experience in this industry.
________ You are open to suggestions and guidance from others.
________ You are able to be flexible and change course if the situation demands.
________ You have prior experience leading a team.
________ Others naturally find you to be a leader.
________ You have the personal capability to develop your product or service.
________ You have the personal capability and willingness to go out and make sales.
________ You have a good credit history.
Your Management Team
________ You have identified and/or secured others with the capability to develop your product or service.
________ You have identified and/or secured others who can make sales.
________ You have clearly identified/secured others to be part of your team.
________ Members of your team have previous industry experience.
Your Financial/Business Model
________ You will be able to finance all start-up costs and become profitable without any outside funding.
________ There exist funding sources (angel investors, venture capitalists) who actively invest in your industry.
________ The business does not require high start-up costs.
________ The business does not require high annual operating costs.
________ You will be able to be profitable within the first 12 months.
________ You are able to forecast continued, significant growth for at least 36 months.
________ A clear, proven business model already exists on how you’ll charge customers for your product or service.
Your Competitor
Competitors Industry
________ Is economically healthy.
________ Is new, expanding, or growing signficantly.
________ Is characterized by a large number of competitors rather than a few entrenched, large companies.
________ Is able to withstand downturns in economic cycles.
________ Has positive forecasts for significant growth in the immediate future.
Competitors Product or Service
________ Is proven and not unique.
________ Is already in demand.
________ If unique, there are significant barriers to keep others from competing with you.
________ Is currently developed or can be developed in the near future.
________ Has a clear source of suppliers for the necessary materials or inventory.
________ Can be produced at a cost significantly lower than the future sales price.
________ Is not burdensome — in terms of cost or time — for new customers to convert to.
________ Is consumable — meaning customers will use your product or service repeatedly.
Competitors Market
________ Is clearly identifiable.
________ Is large enough to be able to support your business.
________ Is small enough to be able to be reached affordably for marketing purposes.
________ Has shown it is already interested in your product or service.
________ Is growing.
________ Has forecasts for significant growth in the immediate future.
________ Has existing sales channels to sell to your customers.
Competitors Competition
________ Exists.
________ Is clearly identifiable.
________ Has market share that is widely distributed and is not dominated by a few major companies.
________ Does not have deep pockets to come after you.
Competitors Operations
________ Does not entail significant initial capital investment.
________ Does not require the purchase of substantial, expensive inventories.
________ Does not require new or unproven technologies.
________ Is not reliant on one or two suppliers or distributors.
________ Does not entail unusual production or operational challenges.
________ Has a ready source of skilled labor.
________ Does not require expensive insurance or entail significant liability.
Competitors Leadership Abilities
________ You have started or run a company previously.
________ You have had training in entrepreneurship and/or business management.
________ You have previous experience in this industry.
________ You are open to suggestions and guidance from others.
________ You are able to be flexible and change course if the situation demands.
________ You have prior experience leading a team.
________ Others naturally find you to be a leader.
________ You have the personal capability to develop your product or service.
________ You have the personal capability and willingness to go out and make sales.
________ You have a good credit history.
Competitors Management Team
________ You have identified and/or secured others with the capability to develop your product or service.
________ You have identified and/or secured others who can make sales.
________ You have clearly identified/secured others to be part of your team.
________ Members of your team have previous industry experience.
Competitors Financial/Business Model
________ You will be able to finance all start-up costs and become profitable without any outside funding.
________ There exist funding sources (angel investors, venture capitalists) who actively invest in your industry.
________ The business does not require high start-up costs.
________ The business does not require high annual operating costs.
________ You will be able to be profitable within the first 12 months.
________ You are able to forecast continued, significant growth for at least 36 months.
________ A clear, proven business model already exists on how you’ll charge customers for your product or service.
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