{"id":7808,"date":"2016-05-12T03:03:44","date_gmt":"2016-05-12T08:03:44","guid":{"rendered":"https:\/\/www.insta-pro.com\/en\/?p=7808"},"modified":"2023-03-31T08:39:50","modified_gmt":"2023-03-31T13:39:50","slug":"project-feasibility","status":"publish","type":"post","link":"https:\/\/instapro.spinuhost.com\/en\/blog\/businessstrategyandfinance\/project-feasibility\/","title":{"rendered":"Importance of Project Feasibility"},"content":{"rendered":"<p>When considering a new business, it is important to conduct a feasibility analysis. This is an assessment of the capital required, staff and facility needs, and most importantly if it will be profitable.\u00a0 The customer will see pay back and the return-on-investment (ROI) of the project.<\/p>\n<p>Some business people may consider hiring a consultant to determine if the project is feasible and pay for their expertise.\u00a0 This is an additional cost for a start-up company or new business concept for a current business that they might not want to spend, yet this is a critical initial step to take to assure you are investing time on an idea that will ultimately benefit you financially.<\/p>\n<p>Some equipment and technology provider companies provide financial feasibility assistance on the front side of buying their equipment.\u00a0 Do your technology partners do this?<\/p>\n<p>At Insta-Pro, we provide feasibility studies free of charge.\u00a0 In order to arrive at a quality analysis of the business opportunity, we will ask you a series of questions to fill into the spreadsheet program we developed.\u00a0 Some of the information we request includes:<\/p>\n<ul>\n<li>Products or formula to process<\/li>\n<li>Costs of ingredients<\/li>\n<li>Price of goods to sell<\/li>\n<li>Electrical voltage and cycle<\/li>\n<li>Volume required on monthly and annual basis<\/li>\n<li>Intended hours of operation per day<\/li>\n<li>Intended days of operation per week<\/li>\n<li>How much space is available<\/li>\n<li>Staffing costs and staffing strategy<\/li>\n<\/ul>\n<p>As a company, we are committed to providing honest and straight forward answers. The outcome of the feasibility study will tell you whether you should move forward with the project, change some details to improve it, or come up with a different solution.<\/p>\n<p><em>Note:\u00a0 The feasibility should not replace the need for a complete business and financial plan with your accounting and financial team as you progress your project to the next stage for final approvals and gaining funding.\u00a0 However, the feasibility will assist in these steps and make it more efficient.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>When considering a new business, it is important to conduct a feasibility analysis. This is an assessment of the capital required, staff and facility needs, and most importantly if it will be profitable.\u00a0 The customer will see pay back and the return-on-investment (ROI) of the project. Some business people may consider hiring a consultant to [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":10825,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[31],"tags":[92,36,1438],"class_list":["post-7808","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-businessstrategyandfinance","tag-business-strategy","tag-creating-a-profitable-plant","tag-feasibility-analysis"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.2 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Importance of Project Feasibility<\/title>\n<meta name=\"description\" content=\"At Insta-Pro, we provide feasibility studies free of charge to build a plant. 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