Assignment Task
Case Study
John is an entrepreneur who wants to start a coffee shop in his town. He’s passionate about coffee and has some experience working in a coffee shop in the past. However, he’s not sure if his idea is feasible, so he decides to conduct a feasibility analysis.
Market Feasibility
John starts by analyzing the market feasibility of his business idea. He researches the local coffee market to determine if there’s enough demand for his coffee shop. He also identifies his target customers and their preferences, such as the type of coffee they like and the ambiance they prefer.
Financial Feasibility
Next, John conducts a financial feasibility analysis. He creates a financial plan to determine the startup costs, ongoing expenses, and potential revenue for his coffee shop. He also identifies potential funding sources, such as investors or loans, to cover his startup costs.
Technical Feasibility
John then assesses the technical feasibility of his business idea. He determines if he has the necessary skills, knowledge, and resources to start and run a coffee shop. He also identifies any technical challenges he may face, such as finding the right location, securing permits and licenses, and purchasing equipment.
Operational Feasibility
Finally, John conducts an operational feasibility analysis. He determines if his coffee shop can be operational within his desired timeframe and if he can sustain the business over the long term. He also identifies potential operational challenges, such as staffing and inventory management.
Finally
Based on his feasibility analysis, John determines that his coffee shop idea is feasible. He decides to move forward with his business plan and begins to execute it.