Business feasibility study

Feasibility study is an initial step and must be done every person who would start a business,

         understanding business feasibility study is an in-depth study of the business that will be undertaken that involves many aspects: legal, social, cultural, financial management, operational techniques and technology to marketing.

Taking into account all these conditions, the results of the feasibility study will be used as a reference business or whether the business strategy be continued or postponed or even canceled. Many examples of feasibility studies including the restaurant business feasibility study, feasibility study business hotels etc, then in building the business strategy needs to be looked at properly

In this paper a feasibility study to make your business or build a business needs to pay attention Important aspects comprising:

1. Legal and administrative :

    is an aspect related to the legal aspects covering applicable laws including:

    a. Licensing:

    i) Permit the location

    ii) the business license include:

    Certificate of incorporation of the local notary PT / CV or other legal entity.

    - Number of taxpayers subject

    - Letter of the company list

    - Premises permit from local authorities

    - Letter sign partnership of local government

    - Letter rising sign issued by the Ministry of Information

2. Socio-economic and cultural aspects :

is an aspect related to the impact given to the public because of a project, then this aspect included as part of the business feasibility study

a. From the cultural side = the study of the impact of the presence of peroyek local community life, local indigenous customs.

b. From an economic standpoint = that the project may change or even reduce income per capita local panduduk. As the extent of the income per capita of population, national income or average wages of local workers.

c. And in terms of social = ie Does the existence of the project area is becoming increasingly crowded, traffic more smoothly, the communication lines, electric lighting and other local public education. So to get it all can be done by way of interviews, questionnaires, dokumenl. To see if a project is feasible or not by comparing the desire of investors or parties related to the sources of the data collected.

3. The market and marketing :

    is an aspect relating to the market opportunity for a product that will be offered by a project

- Feasibility study to look at the market potential

- The number of potential consumers,
consumers who have the need or desire to purchase. On the development / growth of the population:

- Purchasing power, the ability of consumers in order to purchase goods include behavior, habits, consumer preferences, demand trends of the past, etc..

- Marketing, which is concerned about the strategies used to achieve most of the potential market, market opportunity or how much influence the strategy to achieve large market share.

4. Technical and technological aspects :

is an aspect related to peroyek site selection, types of machines, or other equipment in accordance with the production capacity, layout, and selection of appropriate technologies. this is very important in the aspects of business feasibility study.

5. Management aspects :

    is an aspect related to project development and operational management.

6. Financial Aspects :

which is an important aspect of business feasibility study relating to the sources of funding to be obtained and the projected rate of return to capital costs and sources of funds is concerned.