A feasibility study can give your project a necessary reality check. With the current conditions as the starting point, we estimate the potentials in your project or business case to make sure that your vision is realistic, fundable and socio-economically sustainable.
Our services within Feasibility Studies include:
- Vision and concept
- Analysis – demand, supply, opportunities and challenges
- Construction programme – financial status, operating budget and time schedule
- Strategy – funding sources and communication strategy
- Business plan and actions
- Construction management
- Training of operating personnel
Making ideas happen
Across sectors, we provide critical and unbiased feasibility studies that work as a solid basis for decision-makers and their prioritisation of projects. Our team of experienced economists conducts studies in the tourism industry, e.g. in connection with the construction of new culture and experience centres, but also when existing buildings need to be rethought to fulfil new purposes and activities. Self-governing institutions and public organisations are among our key clients, but we also conduct large projects for private companies.
Our unique company set-up means we can utilise competencies from across the Ramboll Group and enlist the help of our legal experts, survey specialists or engineers who have many years of experience with construction, analysis, strategy and concept development, to deliver tailored solutions for each project – from turning the first sod to estimating the average number of visitors.
For instance, we have performed a feasibility study on the development of visitors, entry fees and wage budgets for The Blue Planet Aquarium in Copenhagen, and we have documented the social, cultural and economic value of Denmark’s second-largest music festival for the Municipality of Skanderborg.
Feasibility studies contain standard components. The exact appearance of each study varies. This depends on the industry studied, the critical factors for that project, the methods chosen to conduct the study – primary and secondary research, and the budget. Most studies have multiple potential uses, e.g. validate your assumptions, reassure investors and lenders that the proposed venture is economically viable, etc. so they must be designed to serve everyone’s needs.
There are usually three components to the feasibility study, however, depending on your business; the technical analysis may not be required.
• Market Analysis
• Technical Analysis
• Financial Analysis
The market analysis should be conducted first because it is critical to the success of the business to understand the environment in which you will compete. There must be adequate demand for your product or service. If not, your business idea may not be feasible and there is no need to go any further. Market analysis results in compiling information about the market potential. Its basic components include:
• Estimate of market size
• Projected market share
• Analysis of the competition.
In addition to the market analysis, the financial assessment is a critical component of the feasibility study. Without the “financials” it will be impossible to determine how feasible the business idea is. Included in the financial assessment is revenue and income projections for the first year along with start-up costs to determine how much funding your business will need. Key components of the financial assessment include:
• Capital Requirements
• Start-up Costs
• Revenue Projections
• Gross Profit Margins (GPM)
• Net Income
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