What are the reasons you should obtain a Feasibility Study? They are an invaluable tool in evaluating the probability of success for a restaurant, hotel, or really any business. Our team at Truman Mox will compare your project’s features to others and then provide you with a financial forecast. In most feasibility studies, you can expect to receive:
- Review of the competitive set of businesses.
- Establish trade areas
- Review and identify traffic and barriers for your proposed site location
- Review the target profile of your customer and their size base
- Evaluate performance for sales
- Evaluate the financial viability
- Plan layout and design
- Provide an onsite visit to inspect the location, community
- Review of target demographics
- Assistance in obtaining financing
- Determine your probability of financial success
Your report will be valuable for Investors, Banks, and Lending Institutions The SBA may also require a feasibility study if you are seeking SBA Financing.
Whether you are a start-up or expanding, they provide critical information that can help you make informed decisions about whether or not to move forward with a project.
Our team has an in-depth knowledge of restaurants and hotels allowing us to provide valuable insight into the success of your project. Whether a restaurant feasibility study or a hotel feasibility study. Our team can help you determine the likeliness for success.
Contact us today to get started on your feasibility study!