Develop a Business Plan

To transfer business ideas into profitable organization requires credible plan. The success of any company partly depend on good planning, one type of business plan is the feasibility study. It is a comprehensive study, which examines all aspects of a business to be launched, ranging from viability, feasibility, profitability, and the possible effectiveness of the desired or proposed investment opportunity, the outcome of the feasibility report will influence the decision of the entrepreneur either to accept or reject the project.

The need for feasibility report is to be able to meet up with the requirement of financial institutions, to provide information necessary for accurate decision making in relation to the proposed project, to help the entrepreneur develop future plans for his/her organization and to serve as a standard or yardstick for assessing performance of envisaged business.
Features of a Feasibility Report.
Introduction. This section relates to provision of general information relating to the proposed business. Other issues include data collection method, name of the proposed business, list of directors their skills and experience.
Describing the business. This segment is concerned with in formation about the business that includes product to be marketed, industry description and available opportunities for exploitation.
Preliminary market evaluation. It has to do with determination of present future demands for the product in the market of interest, the characteristics of buyers and projected sales for two or three years. Market evaluation constitutes the central building block for all other aspect of the feasibility report. The entrepreneur should start with this section before any other aspect of the report. Among the issues to be included in this section are;