1. Understanding Business Goals
- Begin by understanding your business objectives and the purpose of the feasibility study to align our analysis with your goals.
2. Defining Value Proposition
- Clarify your value proposition and budget to tailor the study to your specific needs and constraints.
3. Legal Framework Requirements
- Identify the legal requirements relevant to your business to ensure compliance and feasibility.
4. Market Research Methodology
- Select the most appropriate market research methodology for your business to gather relevant data and insights.
5. Analytics and Cost Calculations
- Perform detailed analytics on various aspects such as competitor performance, customer behavior, and market trends. Calculate costs related to setup, marketing, distribution, and development.
6. Report and Discussion
- Prepare a comprehensive feasibility study report detailing costs, benefits, and operational aspects. Discuss the findings with you and make any necessary revisions or additional analyses.