example feasibility study research paper

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Feasibility Study Examples

48 feasibility study examples & templates (100% free).

If you try to read a feasibility study example, you’ll realize that it’s a document which analyzes the relevant factors of a specific project including the scheduling, legal, economic, and technical considerations. This document helps to ascertain the success of the project’s completion .

Table of Contents

• 1 Feasibility Study Examples
• 2 Why conduct a feasibility study?
• 3 Feasibility Report Examples
• 4 What is an example of a feasibility study?
• 5 Feasibility Analysis Examples
• 6 What factors are required for preparing the feasibility report?
• 7 Feasibility Study Templates
• 8 What is included in a feasibility report?
• 9 How do you write a feasibility study report?

Why conduct a feasibility study?

A feasibility study example is also known as a feasibility report example or a feasibility analysis example. No matter what name you use, the importance stays the same. The main reason why you would create a feasibility study document is to check whether or not you should commit your time and resources towards a project.

A feasibility study may reveal new challenges or concepts which may completely change the scope of a project. It’s better to make such determinations beforehand instead of starting the project only to realize that it won’t work. Simply put, conducting this study gives you a clearer picture of the project.

Feasibility Report Examples

What is an example of a feasibility study?

A feasibility report example or a feasibility analysis example shows the analysis and evaluation of a specific proposed system or project. The study aims to determine whether or not the project is financially and technically feasible. To help you understand better, let’s have a feasibility study example.

For instance, a hospital wants to expand by adding an extension to one of the buildings. Before doing this, they should conduct a feasibility study to determine whether or not they should go through with this expansion. Here are the steps to take:

• First, they must take into consideration the costs of materials and labor. They must also think about the disruptions the project might cause to the patients and the staff.
• They must also gauge the opinion of the public about the project. To do this, they can ask the local community if they’re against or in favor of the project.
• The next step is to start a conversation with the stakeholders and see how they respond to the idea.
• Finally, they should come up with a list of all the project’s pros and cons. After that, they weigh the points against each other.

After all these steps, the team who conducts the feasibility study can determine whether or not they should continue with the expansion.

Feasibility Analysis Examples

What factors are required for preparing the feasibility report?

Projects are an important part of organizations and businesses. While you want all of your projects to succeed, this isn’t always the case. If you want to avoid starting projects which have a high likelihood of failing, then you must first perform a feasibility study.

After performing this study, you should come up with a feasibility report example to help you make a final decision about your project . Before creating this feasibility study example, let’s take a look at the factors required for it:

• Business alignment When you’re trying to envision a new project, think about whether it corresponds with the mission statement of your company or not. The project must align with your business for it to be a viable one. It should support the best interests of the organization which means that it will be highly beneficial too.
• System and technology assessment After brainstorming and coming up with the scope, it’s time to assess the system and technology viability of the project along with its deliverables. In this step, the team must have senior technical consultants who will provide the needed input.
• Economic viability It’s also important to examine the economic viability of the project before proceeding. This means having to come up with an estimate for the implementation costs , the ROI of the project, the target market niche, and how saturated the market is.
• Operational considerations After establishing the scope and making a list of the requirements, it’s time to determine whether or not the solution you came up with solves the issue. In some cases, a proposed project may provide a tangential solution to the expectations of the target market. In such a case, this doesn’t make the project fully viable.
• Legal ramifications You must also check if the project comes with any legal ramifications. Make sure that there are no concerns regarding local and foreign government regulations, company policies, infringement issues, and so on. You must address these issues to make sure that you don’t run into any roadblocks after implementation.
• Resource and schedule concerns This is one of the most important factors to consider. If you don’t have enough resources, you can’t push through with the project. Also, if the project might take too long, this would cause issues too.

Feasibility Study Templates

What is included in a feasibility report?

A feasibility study is an important aspect of any project. Through it, you analyze whether or not you should go through with the project given the current situation and the details of the project itself. If you’re tasked to come up with a report or a feasibility study example, include the following information:

• The scope of the project You must clearly establish the scope of the project or the issue you plan to address. Also, define the parts of your business which would get affected by the project either indirectly or directly. Creating a well-defined scope allows for the accuracy of your feasibility study.
• A current analysis This is important for the evaluation of the current implementation. Through this analysis, you can determine the weaknesses and strengths of the existing approach to help save you a lot of time and money.
• The requirements of the project It’s important to define all of the requirements depending on your project’s objectives. This helps give you a better idea of the resources you need and if you have enough.
• The project approach Next, you must decide on the recommended course of action or solution to meet the requirements of the project. Think about different alternatives and choose the most viable option.
• Evaluation Here, you assess the cost-effectiveness of the approach you’ve chosen along with an estimate of the project’s total cost. You may also estimate the costs of the alternative options for the purpose of comparison.
• Review After bringing together all of these elements into your feasibility study, it’s time to conduct a formal review. Use this review to check how accurate your feasibility study is. This, in turn, helps you make a final decision about the project.

How do you write a feasibility study report?

If you’ve ever read a feasibility analysis example before, you’ll see that it’s quite technical. After all, it’s an analysis of the details of a specific project. It contains a lot of important information which helps the decision-makers of the organization to come to a more informed decision about the project.

Creating a feasibility study example doesn’t have to be a difficult task as long as you know what information to include. To guide you, here are some tips:

• Include an executive summary at the beginning or end of your report The key here is the word “summary.” Emphasize the most important points of each of the sections.
• Create an outline Whether you plan to include the executive summary at the beginning or end of your report, creating an outline makes the task easier for you. The outline helps guide you as you’re writing the report. It also gives you an idea of what you’ve finished and what you must still work on.
• Estimate and calculate the required materials and labor Make a list of all the materials you need for your project. Also, include other details like where you plan to get the materials, whether you can get discounts for bulk purchases, the details about the materials, and so on. You must also come up with a list of the labor requirements no matter what the size of your project is. Most of the time, labor is one of the biggest expenses you might have in your project.
• Shipping and transportation requirements Think about how you will start transporting the materials you need for your project . While small items aren’t a problem, if you need to ship or transport equipment or other heavy items, you might have to hire a trucking or a freight company.
• Include the marketing requirements too Marketing is also an important part of your project, especially if you want to reach out to a target audience. Think about the marketing requirements you need and how you plan to produce them.
• Consider the technology requirements of your business Depending on the nature of your project, you may need some type of technology during implementation. Include this component in your feasibility study and incorporate the details about it into your report.
• Include the project’s target dates This is important information too, especially for the investors and stakeholders of your projects. Target dates give them a better idea of when your project will get accomplished.
• Provide supporting documents for the financial information Again, this information is for the benefit of the project’s investors and stakeholders. But it’s also important for you to have these documents, especially if you’re the one in charge of the project’s finances.

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• How to conduct a feasibility study: Tem ...

How to conduct a feasibility study: Templates and examples

Conducting a feasibility study is an important step in successful project management. By evaluating the viability of a proposed project, a feasibility study helps you identify potential challenges and opportunities, ensuring you make informed decisions. In this guide, we’ll walk you through how to conduct a feasibility study with practical templates and real-world examples, designed for project managers seeking to optimize their project planning process.

It can be exciting to run a large, complex project that has a huge potential impact on your organization. On the one hand, you’re driving real change. On the other hand, failure is intimidating. 

What is a feasibility study? 

A feasibility study—sometimes called a feasibility analysis or feasibility report—is a way to evaluate whether or not a project plan could be successful. A feasibility study evaluates the practicality of your project plan in order to judge whether or not you’re able to move forward with the project. 

It does so by answering two questions: 

Does our team have the required tools or resources to complete this project? 

Will there be a high enough return on investment to make the project worth pursuing? 

Benefits of conducting a feasibility study

There are several key benefits to conducting a feasibility study before launching a new project:

Confirms market opportunities and the target market before investing significant resources

Identifies potential issues and risks early on

Provides in-depth data for better decision making on the proposed project's viability

Creates documentation on expected costs and benefits, including financial analysis

Obtains stakeholder buy-in by demonstrating due diligence

Feasibility studies are important for projects that represent significant investments for your business. Projects that also have a large potential impact on your presence in the market may also require a feasibility assessment. 

As the project manager , you may not be directly responsible for driving the feasibility study, but it’s important to know what these studies are. By understanding the different elements that go into a feasibility study, you can better support the team driving the feasibility study and ensure the best outcome for your project.

When should you conduct a feasibility analysis?

A feasibility study should be conducted after the project has been pitched but before any work has actually started. The study is part of the project planning process. In fact, it’s often done in conjunction with a SWOT analysis or project risk assessment , depending on the specific project. 

Feasibility studies help: 

Confirm market opportunities before committing to a project

Narrow your business alternatives

Create documentation about the benefits and disadvantages of your proposed initiative

Provide more information before making a go-or-no-go decision

You likely don’t need a feasibility study if:

You already know the project is feasible

You’ve run a similar project in the past

Your competitors are succeeding with a similar initiative in market

The project is small, straightforward, and has minimal long-term business impact

Your team ran a similar feasibility analysis within the past three years

One thing to keep in mind is that a feasibility study is not a project pitch. During a project pitch, you’re evaluating whether or not the project is a good idea for your company and whether the goals of the project are in line with your overall strategic plan. Typically, once you’ve established that the project is a good idea, you'll run a feasibility study to confirm that the project is possible with the tools and resources you have at your disposal. 

Types of feasibility studies

There are five main types of feasibility studies: technical feasibility, financial feasibility, market feasibility (or market fit), operational feasibility, and legal feasibility. Most comprehensive feasibility studies will include an assessment of all five of these areas.

Technical feasibility

A technical feasibility study reviews the technical resources available for your project. This study determines if you have the right equipment, enough equipment, and the right technical knowledge to complete your project objectives . For example, if your project plan proposes creating 50,000 products per month, but you can only produce 30,000 products per month in your factories, this project isn’t technically feasible. 

Financial feasibility

Financial feasibility describes whether or not your project is fiscally viable. A financial feasibility report includes a cost-benefit analysis of the project. It also forecasts an expected return on investment (ROI) and outlines any financial risks. The goal at the end of the financial feasibility study is to understand the economic benefits the project will drive. 

Market feasibility

The market feasibility study is an evaluation of how your team expects the project’s deliverables to perform in the market. This part of the report includes a market analysis, a market competition breakdown, and sales projections.

Operational feasibility

An operational feasibility study evaluates whether or not your organization is able to complete this project. This includes staffing requirements, organizational structure, and any applicable legal requirements. At the end of the operational feasibility study, your team will have a sense of whether or not you have the resources, skills, and competencies to complete this work. 

Legal feasibility

A legal feasibility analysis assesses whether the proposed project complies with all relevant legal requirements and regulations. This includes examining legal and regulatory barriers, necessary permits, licenses, or certifications, potential legal liabilities or risks, and intellectual property considerations. The legal feasibility study ensures that the project can be completed without running afoul of any laws or incurring undue legal exposure for the organization.

Feasibility assessment checklist

Most feasibility studies are structured in a similar way. These documents serve as an assessment of the practicality of a proposed business idea. Creating a clear feasibility study helps project stakeholders during the decision making process. 

The essential elements of a feasibility study are: 

An executive summary describing the project’s overall viability

A description of the product or service being developed during this project

Any technical considerations , including technology, equipment, or staffing

The market survey , including a study of the current market and the marketing strategy 

The operational feasibility study evaluates whether or not your team’s current organizational structure can support this initiative

The project timeline

Financial projections based on your financial feasibility report

6 steps to conduct a feasibility study

You likely won’t be conducting the feasibility study yourself, but you will probably be called on to provide insight and information. To conduct a feasibility study, hire a trained consultant or, if you have an in-house project management office (PMO) , ask if they take on this type of work. In general, here are the steps they’ll take to complete this work: 

1. Run a preliminary analysis

Creating a feasibility study is a time-intensive process. Before diving into the feasibility study, it’s important to evaluate the project for any obvious and insurmountable roadblocks. For example, if the project requires significantly more budget than your organization has available, you likely won’t be able to complete it. Similarly, if the project deliverables need to be live and in the market by a certain date but won’t be available for several months after that, the project likely isn’t feasible either. These types of large-scale obstacles make a feasibility study unnecessary because it’s clear the project is not viable.

2. Evaluate financial feasibility

Think of the financial feasibility study as the projected income statement for the project. This part of the feasibility study clarifies the expected project income and outlines what your organization needs to invest—in terms of time and money—in order to hit the project objectives. 

During the financial feasibility study, take into account whether or not the project will impact your business's cash flow. Depending on the complexity of the initiative, your internal PMO or external consultant may want to work with your financial team to run a cost-benefit analysis of the project. 

3. Run a market assessment

The market assessment, or market feasibility study, is a chance to identify the demand in the market. This study offers a sense of expected revenue for the project and any potential market risks you could run into. 

The market assessment, more than any other part of the feasibility study, is a chance to evaluate whether or not there’s an opportunity in the market. During this study, it’s critical to evaluate your competitor’s positions and analyze demographics to get a sense of how the project will go. 

4. Consider technical and operational feasibility

Even if the financials are looking good and the market is ready, this initiative may not be something your organization can support. To evaluate operational feasibility, consider any staffing or equipment requirements this project needs. What organizational resources—including time, money, and skills—are necessary in order for this project to succeed? 

Depending on the project, it may also be necessary to consider the legal impact of the initiative. For example, if the project involves developing a new patent for your product, you will need to involve your legal team and incorporate that requirement into the project plan.

5. Review project points of vulnerability

At this stage, your internal PMO team or external consultant have looked at all four elements of your feasibility study—financials, market analysis, technical feasibility, and operational feasibility. Before running their recommendations by you and your stakeholders, they will review and analyze the data for any inconsistencies. This includes ensuring the income statement is in line with your market analysis. Similarly, now that they’ve run a technical feasibility study, are any liabilities too big of a red flag? (If so, create a contingency plan !) 

Depending on the complexity of your project, there won’t always be a clear answer. A feasibility analysis doesn’t provide a black-and-white decision for a complex problem. Rather, it helps you come to the table with the right questions—and answers—so you can make the best decision for your project and for your team.

6. Propose a decision

The final step of the feasibility study is an executive summary touching on the main points and proposing a solution. 

Depending on the complexity and scope of the project, your internal PMO or external consultant may share the feasibility study with stakeholders or present it to the group in order to field any questions live. Either way, with the study in hand, your team now has the information you need to make an informed decision.

Feasibility study examples

To better understand the concepts behind feasibility assessments, here are two hypothetical examples demonstrating how these studies can be applied in real-world scenarios.

Example 1: New product development

A consumer goods company is considering launching a new product line. Before investing in new product development, they conduct a feasibility study to assess the proposed project.

The feasibility study includes:

Market research to gauge consumer interest, assess competitor offerings, and estimate potential market share for the target market.

Technological considerations, including R&D requirements, production processes, and any necessary patents or certifications.

In-depth financial analysis projects sales volumes, revenue, costs, and profitability over a multi-year period.

Evaluation of organizational readiness, including the skills of the current management team and staff to bring the new product to market.

Assessment of legal feasibility to ensure compliance with regulations and identify any potential liability issues.

The comprehensive feasibility study identifies a promising market opportunity for the new business venture. The company decides to proceed with the new project, using the feasibility report as a template for their business development process. The study helps secure funding from key decision-makers, setting this start-up product initiative up for success.

Example 2: Real estate development deal

A property developer is evaluating the feasibility of purchasing land for a new residential community. They commission a feasibility study to determine the viability of this real estate development project.

The feasibility assessment covers:

Detailed analysis of the local housing market, including demand drivers, comparable properties, pricing, and absorption rates.

Site planning to assess the property's capacity, constraints, and technological considerations.

In-depth review of legal feasibility, including zoning, permitting, environmental regulations, and other potential legal hurdles.

Financial analysis modeling various development scenarios and estimating returns on investment.

Creation of an opening day balance sheet projecting the assets, liabilities, and equity for the proposed project.

Sensitivity analysis to evaluate the impact of changes in key assumptions on the project's scope and profitability.

The feasibility study concludes that while the real estate start-up is viable, it carries significant risk. Based on these findings, the developer makes an informed decision to move forward, but with a revised project's scope and a phased approach to mitigate risk. The comprehensive feasibility analysis proves critical in guiding this major investment decision.

Which phase of the project management process involves feasibility studies?

Feasibility studies are a key part of the project initiation and planning phases. They are typically conducted after a project has been conceptualized but before significant resources are invested in detailed planning and execution.

The purpose of a feasibility assessment is to objectively evaluate the viability of a proposed project, considering factors such as technical feasibility, market demand, financial costs and benefits, legal requirements, and organizational readiness. By thoroughly assessing these aspects, a feasibility study helps project stakeholders make an informed go-or-no-go decision.

While feasibility studies are a critical tool in the early stages of project management, they differ from other planning documents like project charters, business cases, and business plans. Here's a closer look at these key differences:

Feasibility study vs. project charter

A project charter is a relatively informal document to pitch your project to stakeholders. Think of the charter as an elevator pitch for your project objectives, scope, and responsibilities. Typically, your project sponsor or executive stakeholders review the charter before ratifying the project. 

A feasibility study should be implemented after the project charter has been ratified. This isn’t a document to pitch whether or not the project is in line with your team’s goals—rather, it’s a way to ensure the project is something you and your team can accomplish.

Feasibility study vs. business case

A business case is a more formalized version of the project charter. While you’d typically create a project charter for small or straightforward initiatives, you should create a business case if you are pitching a large, complex initiative that will make a major impact on the business. This longer, more formal document will also include financial information and typically involve more senior stakeholders. 

After your business case is approved by relevant stakeholders, you'll run a feasibility study to make sure the work is doable. If you find it isn’t, you might return to your executive stakeholders and request more resources, tools, or time in order to ensure your business case is feasible.

Feasibility study vs. business plan

A business plan is a formal document outlining your organization’s goals. You typically write a business plan when founding your company or when your business is going through a significant shift. Your business plan informs a lot of other business decisions, including your three- to five-year strategic plan . 

As you implement your business and strategic plan, you’ll invest in individual projects. A feasibility study is a way to evaluate the practicality of any given individual project or initiative.

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What is a Feasibility Study and How to Conduct It? (+ Examples)

Appinio Research · 26.09.2023 · 28min read

Are you ready to turn your project or business idea into a concrete reality but unsure about its feasibility? Whether you're a seasoned entrepreneur or a first-time project manager, understanding the intricate process of conducting a feasibility study is vital for making informed decisions and maximizing your chances of success.

This guide will equip you with the knowledge and tools to navigate the complexities of market, technical, financial, and operational feasibility studies. By the end, you'll have a clear roadmap to confidently assess, plan, and execute your project.

What is a Feasibility Study?

A feasibility study is a systematic and comprehensive analysis of a proposed project or business idea to assess its viability and potential for success. It involves evaluating various aspects such as market demand, technical feasibility, financial viability, and operational capabilities. The primary goal of a feasibility study is to provide you with valuable insights and data to make informed decisions about whether to proceed with the project.

Why is a Feasibility Study Important?

Conducting a feasibility study is a critical step in the planning process for any project or business. It helps you:

• Minimize Risks: By identifying potential challenges and obstacles early on, you can develop strategies to mitigate risks.
• Optimize Resource Allocation: A feasibility study helps you allocate your resources more efficiently, including time and money.
• Enhance Decision-Making: Armed with data and insights, you can make well-informed decisions about pursuing the project or exploring alternative options.
• Attract Stakeholders: Potential investors, lenders, and partners often require a feasibility study to assess the project's credibility and potential return on investment.

Now that you understand the importance of feasibility studies, let's explore the various types and dive deeper into each aspect.

Types of Feasibility Studies

Feasibility studies come in various forms, each designed to assess different aspects of a project's viability. Let's delve into the four primary types of feasibility studies in more detail:

1. Market Feasibility Study

Market feasibility studies are conducted to determine whether there is a demand for a product or service in a specific market or industry. This type of study focuses on understanding customer needs, market trends, and the competitive landscape. Here are the key elements of a market feasibility study:

• Market Research and Analysis: Comprehensive research is conducted to gather market size, growth potential , and customer behavior data. This includes both primary research (surveys, interviews) and secondary research (existing reports, data).
• Target Audience Identification: Identifying the ideal customer base by segmenting the market based on demographics, psychographics, and behavior. Understanding your target audience is crucial for tailoring your product or service.
• Competitive Analysis : Assessing the competition within the market, including identifying direct and indirect competitors, their strengths, weaknesses, and market share .
• Demand and Supply Assessment: Analyzing the balance between the demand for the product or service and its supply. This helps determine whether there is room for a new entrant in the market.

2. Technical Feasibility Study

Technical feasibility studies evaluate whether the project can be developed and implemented from a technical standpoint. This assessment focuses on the project's design, technical requirements, and resource availability. Here's what it entails:

• Project Design and Technical Requirements: Defining the technical specifications of the project, including hardware, software, and any specialized equipment. This phase outlines the technical aspects required for project execution.
• Technology Assessment: Evaluating the chosen technology's suitability for the project and assessing its scalability and compatibility with existing systems.
• Resource Evaluation: Assessing the availability of essential resources such as personnel, materials, and suppliers to ensure the project's technical requirements can be met.
• Risk Analysis: Identifying potential technical risks, challenges, and obstacles that may arise during project development. Developing risk mitigation strategies is a critical part of technical feasibility.

3. Financial Feasibility Study

Financial feasibility studies aim to determine whether the project is financially viable and sustainable in the long run. This type of study involves estimating costs, projecting revenue, and conducting financial analyses. Key components include:

• Cost Estimation: Calculating both initial and ongoing costs associated with the project, including capital expenditures, operational expenses, and contingency funds.
• Revenue Projections: Forecasting the income the project is expected to generate, considering sales, pricing strategies, market demand, and potential revenue streams.
• Investment Analysis: Evaluating the return on investment (ROI), payback period, and potential risks associated with financing the project.
• Financial Viability Assessment: Analyzing the project's profitability, cash flow, and financial stability to ensure it can meet its financial obligations and sustain operations.

4. Operational Feasibility Study

Operational feasibility studies assess whether the project can be effectively implemented within the organization's existing operational framework. This study considers processes, resource planning, scalability, and operational risks. Key elements include:

• Process and Workflow Assessment: Analyzing how the project integrates with current processes and workflows, identifying potential bottlenecks, and optimizing operations.
• Resource Planning: Determining the human, physical, and technological resources required for successful project execution and identifying resource gaps.
• Scalability Evaluation: Assessing the project's ability to adapt and expand to meet changing demands and growth opportunities, including capacity planning and growth strategies.
• Operational Risks Analysis: Identifying potential operational challenges and developing strategies to mitigate them, ensuring smooth project implementation.

Each type of feasibility study serves a specific purpose in evaluating different facets of your project, collectively providing a comprehensive assessment of its viability and potential for success.

How to Prepare for a Feasibility Study?

Before you dive into the nitty-gritty details of conducting a feasibility study, it's essential to prepare thoroughly. Proper preparation will set the stage for a successful and insightful study. In this section, we'll explore the main steps involved in preparing for a feasibility study.

1. Identify the Project or Idea

Identifying and defining your project or business idea is the foundational step in the feasibility study process. This initial phase is critical because it helps you clarify your objectives and set the direction for the study.

• Problem Identification: Start by pinpointing the problem or need your project addresses. What pain point does it solve for your target audience?
• Project Definition: Clearly define your project or business idea. What are its core components, features, or offerings?
• Goals and Objectives: Establish specific goals and objectives for your project. What do you aim to achieve in the short and long term?
• Alignment with Vision: Ensure your project aligns with your overall vision and mission. How does it fit into your larger strategic plan?

Remember, the more precisely you can articulate your project or idea at this stage, the easier it will be to conduct a focused and effective feasibility study.

2. Assemble a Feasibility Study Team

Once you've defined your project, the next step is to assemble a competent and diverse feasibility study team. Your team's expertise will play a crucial role in conducting a thorough assessment of your project's viability.

• Identify Key Roles: Determine the essential roles required for your feasibility study. These typically include experts in areas such as market research, finance, technology, and operations.
• Select Team Members: Choose team members with the relevant skills and experience to fulfill these roles effectively. Look for individuals who have successfully conducted feasibility studies in the past.
• Collaboration and Communication: Foster a collaborative environment within your team. Effective communication is essential to ensure everyone is aligned on objectives and timelines.
• Project Manager: Designate a project manager responsible for coordinating the study, tracking progress, and meeting deadlines.
• External Consultants: In some cases, you may need to engage external consultants or specialists with niche expertise to provide valuable insights.

Having the right people on your team will help you collect accurate data, analyze findings comprehensively, and make well-informed decisions based on the study's outcomes.

3. Set Clear Objectives and Scope

Before you begin the feasibility study, it's crucial to establish clear and well-defined objectives. These objectives will guide your research and analysis efforts throughout the study.

Steps to Set Clear Objectives and Scope:

• Objective Clarity: Define the specific goals you aim to achieve through the feasibility study. What questions do you want to answer, and what decisions will the study inform?
• Scope Definition: Determine the boundaries of your study. What aspects of the project will be included, and what will be excluded? Clarify any limitations.
• Resource Allocation: Assess the resources needed for the study, including time, budget, and personnel. Ensure that you allocate resources appropriately based on the scope and objectives.
• Timeline: Establish a realistic timeline for the feasibility study. Identify key milestones and deadlines for completing different phases of the study.

Clear objectives and a well-defined scope will help you stay focused and avoid scope creep during the study. They also provide a basis for measuring the study's success against its intended outcomes.

4. Gather Initial Information

Before you delve into extensive research and data collection, start by gathering any existing information and documents related to your project or industry. This initial step will help you understand the current landscape and identify gaps in your knowledge.

• Document Review: Review any existing project documentation, market research reports, business plans, or relevant industry studies.
• Competitor Analysis: Gather information about your competitors, including their products, pricing, market share, and strategies.
• Regulatory and Compliance Documents: If applicable, collect information on industry regulations, permits, licenses, and compliance requirements.
• Market Trends: Stay informed about current market trends, consumer preferences, and emerging technologies that may impact your project.
• Stakeholder Interviews: Consider conducting initial interviews with key stakeholders, including potential customers, suppliers, and industry experts, to gather insights and feedback.

By starting with a strong foundation of existing knowledge, you'll be better prepared to identify gaps that require further investigation during the feasibility study. This proactive approach ensures that your study is comprehensive and well-informed from the outset.

How to Conduct a Market Feasibility Study?

The market feasibility study is a crucial component of your overall feasibility analysis. It focuses on assessing the potential demand for your product or service, understanding your target audience, analyzing your competition, and evaluating supply and demand dynamics within your chosen market.

Market Research and Analysis

Market research is the foundation of your market feasibility study. It involves gathering and analyzing data to gain insights into market trends, customer preferences, and the overall business landscape.

• Data Collection: Utilize various methods such as surveys, interviews, questionnaires, and secondary research to collect data about the market. This data may include market size, growth rates, and historical trends.
• Market Segmentation: Divide the market into segments based on factors such as demographics, psychographics , geography, and behavior. This segmentation helps you identify specific target markets .
• Customer Needs Analysis: Understand the needs, preferences, and pain points of potential customers . Determine how your product or service can address these needs effectively.
• Market Trends: Stay updated on current market trends, emerging technologies, and industry innovations that could impact your project.
• SWOT Analysis: Conduct a SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis to identify internal and external factors that may affect your market entry strategy.

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Target Audience Identification

Knowing your target audience is essential for tailoring your product or service to meet their specific needs and preferences.

• Demographic Analysis: Define the age, gender, income level, education, and other demographic characteristics of your ideal customers.
• Psychographic Profiling: Understand the psychographics of your target audience, including their lifestyle, values, interests, and buying behavior.
• Market Segmentation: Refine your target audience by segmenting it further based on shared characteristics and behaviors.
• Needs and Pain Points: Identify your target audience's unique needs, challenges, and pain points that your product or service can address.
• Competitor's Customers: Analyze the customer base of your competitors to identify potential opportunities for capturing market share.

Competitive Analysis

Competitive analysis helps you understand the strengths and weaknesses of your competitors, positioning your project strategically within the market.

• Competitor Identification: Identify direct and indirect competitors within your industry or market niche.
• Competitive Advantage: Determine the unique selling points (USPs) that set your project apart from competitors. What value can you offer that others cannot?
• SWOT Analysis for Competitors: Conduct a SWOT analysis for each competitor to assess their strengths, weaknesses, opportunities, and threats.
• Market Share Assessment: Analyze each competitor's market share and market penetration strategies.
• Pricing Strategies: Investigate the pricing strategies employed by competitors and consider how your pricing strategy will compare.

Leveraging the power of data collection and analysis is essential in gaining a competitive edge. With Appinio , you can efficiently gather critical insights about your competitors, their strengths, and weaknesses. Seamlessly integrate these findings into your market feasibility study, empowering your project with a strategic advantage.

Demand and Supply Assessment

Understanding supply and demand dynamics is crucial for gauging market sustainability and potential challenges.

• Market Demand Analysis: Estimate the current and future demand for your product or service. Consider factors like seasonality and trends.
• Supply Evaluation: Assess the availability of resources, suppliers, and distribution channels required to meet the expected demand.
• Market Saturation: Determine whether the market is saturated with similar offerings and how this might affect your project.
• Demand Forecasting: Use historical data and market trends to make informed projections about future demand.
• Scalability: Consider the scalability of your project to meet increased demand or potential fluctuations.

A comprehensive market feasibility study will give you valuable insights into your potential customer base, market dynamics, and competitive landscape. This information will be pivotal in shaping your project's direction and strategy.

How to Conduct a Technical Feasibility Study?

The technical feasibility study assesses the practicality of implementing your project from a technical standpoint. It involves evaluating the project's design, technical requirements, technological feasibility, resource availability, and risk analysis. Let's delve into each aspect in more detail.

1. Project Design and Technical Requirements

The project design and technical requirements are the foundation of your technical feasibility study. This phase involves defining the technical specifications and infrastructure needed to execute your project successfully.

• Technical Specifications: Clearly define the technical specifications of your project, including hardware, software, and any specialized equipment.
• Infrastructure Planning: Determine the physical infrastructure requirements, such as facilities, utilities, and transportation logistics.
• Development Workflow: Outline the workflow and processes required to design, develop, and implement the project.
• Prototyping: Consider creating prototypes or proof-of-concept models to test and validate the technical aspects of your project.

2. Technology Assessment

A critical aspect of the technical feasibility study is assessing the technology required for your project and ensuring it aligns with your goals.

• Technology Suitability: Evaluate the suitability of the chosen technology for your project. Is it the right fit, or are there better alternatives?
• Scalability and Compatibility: Assess whether the chosen technology can scale as your project grows and whether it is compatible with existing systems or software.
• Security Measures: Consider cybersecurity and data protection measures to safeguard sensitive information.
• Technical Expertise: Ensure your team or external partners possess the technical expertise to implement and maintain the technology.

3. Resource Evaluation

Resource evaluation involves assessing the availability of the essential resources required to execute your project successfully. These resources include personnel, materials, and suppliers.

• Human Resources: Evaluate whether you have access to skilled personnel or if additional hiring or training is necessary.
• Material Resources: Identify the materials and supplies needed for your project and assess their availability and costs.
• Supplier Relationships: Establish relationships with reliable suppliers and consistently assess their ability to meet your resource requirements.

4. Risk Analysis

Risk analysis is a critical component of the technical feasibility study, as it helps you anticipate and mitigate potential technical challenges and setbacks.

• Identify Risks: Identify potential technical risks, such as hardware or software failures, technical skill gaps, or unforeseen technical obstacles.
• Risk Mitigation Strategies: Develop strategies to mitigate identified risks, including contingency plans and resource allocation for risk management.
• Cost Estimation for Risk Mitigation: Assess the potential costs associated with managing technical risks and incorporate them into your project budget.

By conducting a thorough technical feasibility study, you can ensure that your project is technically viable and well-prepared to overcome technical challenges. This assessment will also guide decision-making regarding technology choices, resource allocation, and risk management strategies.

How to Conduct a Financial Feasibility Study?

The financial feasibility study is a critical aspect of your overall feasibility analysis. It focuses on assessing the financial viability of your project by estimating costs, projecting revenue, conducting investment analysis, and evaluating the overall financial health of your project. Let's delve into each aspect in more detail.

1. Cost Estimation

Cost estimation is the process of calculating the expenses associated with planning, developing, and implementing your project. This involves identifying both initial and ongoing costs.

• Initial Costs: Calculate the upfront expenses required to initiate the project, including capital expenditures, equipment purchases, and any development costs.
• Operational Costs: Estimate the ongoing operating expenses, such as salaries, utilities, rent, marketing, and maintenance.
• Contingency Funds: Allocate funds for unexpected expenses or contingencies to account for unforeseen challenges.
• Depreciation: Consider the depreciation of assets over time, as it impacts your financial statements.

2. Revenue Projections

Revenue projections involve forecasting the income your project is expected to generate over a specific period. Accurate revenue projections are crucial for assessing the project's financial viability.

• Sales Forecasts: Estimate your product or service sales based on market demand, pricing strategies, and potential growth.
• Pricing Strategy: Determine your pricing strategy, considering factors like competition, market conditions, and customer willingness to pay.
• Market Penetration: Analyze how quickly you can capture market share and increase sales over time.
• Seasonal Variations: Account for any seasonal fluctuations in revenue that may impact your cash flow.

3. Investment Analysis

Investment analysis involves evaluating the potential return on investment (ROI) and assessing the attractiveness of your project to potential investors or stakeholders.

• Return on Investment (ROI): Calculate the expected ROI by comparing the project's net gains against the initial investment.
• Payback Period: Determine how long it will take for the project to generate sufficient revenue to cover its initial costs.
• Risk Assessment: Consider the level of risk associated with the project and whether it aligns with investors' risk tolerance.
• Sensitivity Analysis: Perform sensitivity analysis to understand how changes in key variables, such as sales or costs, affect the investment's profitability.

4. Financial Viability Assessment

A financial viability assessment evaluates the project's ability to sustain itself financially in the long term. It considers factors such as profitability, cash flow, and financial stability.

• Profitability Analysis: Assess whether the project is expected to generate profits over its lifespan.
• Cash Flow Management: Analyze the project's cash flow to ensure it can cover operating expenses, debt payments, and other financial obligations.
• Break-Even Analysis: Determine the point at which the project's revenue covers all costs, resulting in neither profit nor loss.
• Financial Ratios: Calculate key financial ratios, such as debt-to-equity ratio and return on equity, to evaluate the project's financial health.

By conducting a comprehensive financial feasibility study, you can gain a clear understanding of the project's financial prospects and make informed decisions regarding its viability and potential for success.

How to Conduct an Operational Feasibility Study?

The operational feasibility study assesses whether your project can be implemented effectively within your organization's operational framework. It involves evaluating processes, resource planning, scalability, and analyzing potential operational risks.

1. Process and Workflow Assessment

The process and workflow assessment examines how the project integrates with existing processes and workflows within your organization.

• Process Mapping: Map out current processes and workflows to identify areas of integration and potential bottlenecks.
• Workflow Efficiency: Assess the efficiency and effectiveness of existing workflows and identify opportunities for improvement.
• Change Management: Consider the project's impact on employees and plan for change management strategies to ensure a smooth transition.

2. Resource Planning

Resource planning involves determining the human, physical, and technological resources needed to execute the project successfully.

• Human Resources: Assess the availability of skilled personnel and consider whether additional hiring or training is necessary.
• Physical Resources: Identify the physical infrastructure, equipment, and materials required for the project.
• Technology and Tools: Ensure that the necessary technology and tools are available and up to date to support project implementation.

3. Scalability Evaluation

Scalability evaluation assesses whether the project can adapt and expand to meet changing demands and growth opportunities.

• Scalability Factors: Identify factors impacting scalability, such as market growth, customer demand, and technological advancements.
• Capacity Planning: Plan for the scalability of resources, including personnel, infrastructure, and technology.
• Growth Strategies: Develop strategies for scaling the project, such as geographic expansion, product diversification, or increasing production capacity.

4. Operational Risk Analysis

Operational risk analysis involves identifying potential operational challenges and developing mitigation strategies.

• Risk Identification: Identify operational risks that could disrupt project implementation or ongoing operations.
• Risk Mitigation: Develop risk mitigation plans and contingency strategies to address potential challenges.
• Testing and Simulation: Consider conducting simulations or testing to evaluate how the project performs under various operational scenarios.
• Monitoring and Adaptation: Implement monitoring and feedback mechanisms to detect and address operational issues as they arise.

Conducting a thorough operational feasibility study ensures that your project aligns with your organization's capabilities, processes, and resources. This assessment will help you plan for a successful implementation and minimize operational disruptions.

How to Write a Feasibility Study?

The feasibility study report is the culmination of your feasibility analysis. It provides a structured and comprehensive document outlining your study's findings, conclusions, and recommendations. Let's explore the key components of the feasibility study report.

1. Structure and Components

The structure of your feasibility study report should be well-organized and easy to navigate. It typically includes the following components:

• Executive Summary: A concise summary of the study's key findings, conclusions, and recommendations.
• Introduction: An overview of the project, the objectives of the study, and a brief outline of what the report covers.
• Methodology: A description of the research methods , data sources, and analytical techniques used in the study.
• Market Feasibility Study: Detailed information on market research, target audience, competitive analysis, and demand-supply assessment.
• Technical Feasibility Study: Insights into project design, technical requirements, technology assessment, resource evaluation, and risk analysis.
• Financial Feasibility Study: Comprehensive information on cost estimation, revenue projections, investment analysis, and financial viability assessment.
• Operational Feasibility Study: Details on process and workflow assessment, resource planning, scalability evaluation, and operational risks analysis.
• Conclusion: A summary of key findings and conclusions drawn from the study.

Recommendations: Clear and actionable recommendations based on the study's findings.

2. Write the Feasibility Study Report

When writing the feasibility study report, it's essential to maintain clarity, conciseness, and objectivity. Use clear language and provide sufficient detail to support your conclusions and recommendations.

• Be Objective: Present findings and conclusions impartially, based on data and analysis.
• Use Visuals: Incorporate charts, graphs, and tables to illustrate key points and make the report more accessible.
• Cite Sources: Properly cite all data sources and references used in the study.
• Include Appendices: Attach any supplementary information, data, or documents in appendices for reference.

3. Present Findings and Recommendations

When presenting your findings and recommendations, consider your target audience. Tailor your presentation to the needs and interests of stakeholders, whether they are investors, executives, or decision-makers.

• Highlight Key Takeaways: Summarize the most critical findings and recommendations upfront.
• Use Visual Aids: Create a visually engaging presentation with slides, charts, and infographics.
• Address Questions: Be prepared to answer questions and provide additional context during the presentation.
• Provide Supporting Data: Back up your findings and recommendations with data from the feasibility study.

4. Review and Validation

Before finalizing the feasibility study report, conducting a thorough review and validation process is crucial. This ensures the accuracy and credibility of the report.

• Peer Review: Have colleagues or subject matter experts review the report for accuracy and completeness.
• Data Validation: Double-check data sources and calculations to ensure they are accurate.
• Cross-Functional Review: Involve team members from different disciplines to provide diverse perspectives.
• Stakeholder Input: Seek input from key stakeholders to validate findings and recommendations.

By following a structured approach to creating your feasibility study report, you can effectively communicate the results of your analysis, support informed decision-making, and increase the likelihood of project success.

Feasibility Study Examples

Let's dive into some real-world examples to truly grasp the concept and application of feasibility studies. These examples will illustrate how various types of projects and businesses undergo the feasibility assessment process to ensure their viability and success.

Example 1: Local Restaurant

Imagine you're passionate about opening a new restaurant in a bustling urban area. Before investing significant capital, you'd want to conduct a thorough feasibility study. Here's how it might unfold:

• Market Feasibility: You research the local dining scene, identify target demographics, and assess the demand for your cuisine. Market surveys reveal potential competitors, dining preferences, and pricing expectations.
• Technical Feasibility: You design the restaurant layout, plan the kitchen setup, and assess the technical requirements for equipment and facilities. You consider factors like kitchen efficiency, safety regulations, and adherence to health codes.
• Financial Feasibility: You estimate the initial costs for leasing or purchasing a space, kitchen equipment, staff hiring, and marketing. Revenue projections are based on expected foot traffic, menu pricing, and seasonal variations.
• Operational Feasibility: You create kitchen and service operations workflow diagrams, considering staff roles and responsibilities. Resource planning includes hiring chefs, waitstaff, and kitchen personnel. Scalability is evaluated for potential expansion or franchising.
• Risk Analysis: Potential operational risks are identified, such as food safety concerns, labor shortages, or location-specific challenges. Risk mitigation strategies involve staff training, quality control measures, and contingency plans for unexpected events.

Example 2: Software Development Project

Now, let's explore the feasibility study process for a software development project, such as building a mobile app:

• Market Feasibility: You analyze the mobile app market, identify your target audience, and assess the demand for a solution in a specific niche. You gather user feedback and conduct competitor analysis to understand the competitive landscape.
• Technical Feasibility: You define the technical requirements for the app, considering platforms (iOS, Android), development tools, and potential integrations with third-party services. You evaluate the feasibility of implementing specific features.
• Financial Feasibility: You estimate the development costs, including hiring developers, designers, and ongoing maintenance expenses. Revenue projections are based on app pricing, potential in-app purchases, and advertising revenue.
• Operational Feasibility: You map out the development workflow, detailing the phases from concept to deployment. Resource planning includes hiring developers with the necessary skills, setting up development environments, and establishing a testing framework.
• Risk Analysis: Potential risks like scope creep, technical challenges, or market saturation are assessed. Mitigation strategies involve setting clear project milestones, conducting thorough testing, and having contingency plans for technical glitches.

These examples demonstrate the versatility of feasibility studies across diverse projects. Whatever type of venture or endeavor you want to embark on, a well-structured feasibility study guides you toward informed decisions and increased project success.

In conclusion, conducting a feasibility study is a crucial step in your project's journey. It helps you assess the viability and potential risks, providing a solid foundation for informed decision-making. Remember, a well-executed feasibility study not only enables you to identify challenges but also uncovers opportunities that can lead to your project's success.

By thoroughly examining market trends, technical requirements, financial aspects, and operational considerations, you are better prepared to embark on your project confidently. With this guide, you've gained the knowledge and tools needed to navigate the intricate terrain of feasibility studies.

How to Conduct a Feasibility Study in Minutes?

Speed and precision are paramount for feasibility studies, and Appinio delivers just that. As a real-time market research platform, Appinio empowers you to seamlessly conduct your market research in a matter of minutes, putting actionable insights at your fingertips.

Here's why Appinio stands out as the go-to tool for feasibility studies:

• Rapid Insights: Appinio's intuitive platform ensures that anyone, regardless of their research background, can effortlessly navigate and conduct research, saving valuable time and resources.
• Lightning-Fast Responses: With an average field time of under 23 minutes for 1,000 respondents, Appinio ensures that you get the answers you need when you need them, making it ideal for time-sensitive feasibility studies.
• Global Reach: Appinio's extensive reach spans over 90 countries, allowing you to define the perfect target group from a pool of 1,200+ characteristics and gather insights from diverse markets.

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How to conduct a feasibility study: Template and examples

Opportunities are everywhere. Some opportunities are small and don’t require many resources. Others are massive and need further analysis and evaluation.

One of your key responsibilities as a product manager is to evaluate the potential success of those opportunities before investing significant money, time, and resources. A feasibility study, also known as a feasibility assessment or feasibility analysis, is a critical tool that can help product managers determine whether a product idea or opportunity is viable, feasible, and profitable.

So, what is a feasibility analysis? Why should product managers use it? And how do you conduct one?

What is a feasibility study?

A feasibility study is a systematic analysis and evaluation of a product opportunity’s potential to succeed. It aims to determine whether a proposed opportunity is financially and technically viable, operationally feasible, and commercially profitable.

A feasibility study typically includes an assessment of a wide range of factors, including the technical requirements of the product, resources needed to develop and launch the product, the potential market gap and demand, the competitive landscape, and economic and financial viability.

Based on the analysis’s findings, the product manager and their product team can decide whether to proceed with the product opportunity, modify its scope, or pursue another opportunity and solve a different problem.

Conducting a feasibility study helps PMs ensure that resources are invested in opportunities that have a high likelihood of success and align with the overall objectives and goals of the product strategy .

What are feasibility analyses used for?

Feasibility studies are particularly useful when introducing entirely new products or verticals. Product managers can use the results of a feasibility study to:

• Assess the technical feasibility of a product opportunity — Evaluate whether the proposed product idea or opportunity can be developed with the available technology, tools, resources, and expertise
• Determine a project’s financial viability — By analyzing the costs of development, manufacturing, and distribution, a feasibility study helps you determine whether your product is financially viable and can generate a positive return on investment (ROI)
• Evaluate customer demand and the competitive landscape — Assessing the potential market size, target audience, and competitive landscape for the product opportunity can inform decisions about the overall product positioning, marketing strategies, and pricing
• Identify potential risks and challenges — Identify potential obstacles or challenges that could impact the success of the identified opportunity, such as regulatory hurdles, operational and legal issues, and technical limitations
• Refine the product concept — The insights gained from a feasibility study can help you refine the product’s concept, make necessary modifications to the scope, and ultimately create a better product that is more likely to succeed in the market and meet users’ expectations

How to conduct a feasibility study

The activities involved in conducting a feasibility study differ from one organization to another. Also, the threshold, expectations, and deliverables change from role to role.

For a general set of guidelines to help you get started, here are some basic steps to conduct and report a feasibility study for major product opportunities or features.

1. Clearly define the opportunity

Imagine your user base is facing a significant problem that your product doesn’t solve. This is an opportunity. Define the opportunity clearly, support it with data, talk to your stakeholders to understand the opportunity space, and use it to define the objective.

2. Define the objective and scope

Each opportunity should be coupled with a business objective and should align with your product strategy.

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Determine and clearly communicate the business goals and objectives of the opportunity. Align those objectives with company leaders to make sure everyone is on the same page. Lastly, define the scope of what you plan to build.

3. Conduct market and user research

Now that you have everyone on the same page and the objective and scope of the opportunity clearly defined, gather data and insights on the target market.

Include elements like the total addressable market (TAM) , growth potential, competitors’ insights, and deep insight into users’ problems and preferences collected through techniques like interviews, surveys, observation studies, contextual inquiries, and focus groups.

4. Analyze technical feasibility

Suppose your market and user research have validated the problem you are trying to solve. The next step should be to, alongside your engineers, assess the technical resources and expertise needed to launch the product to the market.

Dig deeper into the proposed solution and try to comprehend the technical limitations and estimated time required for the product to be in your users’ hands.

5. Assess financial viability

If your company hasa product pricing team, work closely with them to determine the willingness to pay (WTP) and devise a monetization strategy for the new feature.

Conduct a comprehensive financial analysis, including the total cost of development, revenue streams, and the expected return on investment (ROI) based on the agreed-upon monetization strategy.

6. Evaluate potential risks

Now that you have almost a complete picture, identify the risks associated with building and launching the opportunity. Risks may include things like regulatory hurdles, technical limitations, and any operational risks.

7. Decide, prepare, and share

Based on the steps above, you should end up with a report that can help you decide whether to pursue the opportunity or not. Either way, prepare your findings, including any recommended modifications to the product scope, and present your final findings and recommendations to your stakeholders.

Make sure to prepare an executive summary for your C-suite; they will be the most critical stakeholders and the decision-makers at the end of the meeting.

Feasibility study example

Imagine you’re a product manager at a digital software company that specializes in building project management tools.

Your team has identified a potential opportunity to expand the product offering by developing a new AI-based feature that can automatically prioritize tasks for users based on their deadlines, workload, and importance.

To assess the viability of this opportunity, you can conduct a feasibility study. Here’s how you might approach it according to the process described above:

• Clearly define the opportunity — In this case, the opportunity is the development of an AI-based task prioritization feature within the existing project management software
• Define the objective and scope — The business objective is to increase user productivity and satisfaction by providing an intelligent task prioritization system. The scope includes the integration of the AI-based feature within the existing software, as well as any necessary training for users to understand and use the feature effectively
• Conduct market and user research — Investigate the demand for AI-driven task prioritization among your target audience. Collect data on competitors who may already be offering similar features and determine the unique selling points of your proposed solution. Conduct user research through interviews, surveys, and focus groups to understand users’ pain points regarding task prioritization and gauge their interest in the proposed feature
• Analyze technical feasibility — Collaborate with your engineering team to assess the technical requirements and challenges of developing the AI-based feature. Determine whether your team has the necessary expertise to implement the feature and estimate the time and resources required for its development
• Assess financial viability — Work with your pricing team to estimate the costs associated with developing, launching, and maintaining the AI-based feature. Analyze the potential revenue streams and calculate the expected ROI based on various pricing models and user adoption rates
• Evaluate potential risks — Identify any risks associated with the development and implementation of the AI-based feature, such as data privacy concerns, potential biases in the AI algorithm, or the impact on the existing product’s performance
• Decide, prepare, and share — Based on your analysis, determine whether the AI-based task prioritization feature is a viable opportunity for your company. Prepare a comprehensive report detailing your findings and recommendations, including any necessary modifications to the product scope or implementation plan. Present your findings to your stakeholders and be prepared to discuss and defend your recommendations

Feasibility study template

The following feasibility study template is designed to help you evaluate the feasibility of a product opportunity and provide a comprehensive report to inform decision-making and guide the development process.

Remember that each study will be unique to your product and market, so you may need to adjust the template to fit your specific needs.

• Briefly describe the product opportunity or feature you’re evaluating
• Explain the problem it aims to solve or the value it will bring to users
• Define the business goals and objectives for the opportunity
• Outline the scope of the product or feature, including any key components or functionality
• Summarize the findings from your market research, including data on the target market, competitors, and unique selling points
• Highlight insights from user research, such as user pain points, preferences, and potential adoption rates
• Detail the technical requirements and challenges for developing the product or feature
• Estimate the resources and expertise needed for implementation, including any necessary software, hardware, or skills
• Provide an overview of the costs associated with the development, launch, and maintenance of the product or feature
• Outline potential revenue streams and calculate the expected ROI based on various pricing models and user adoption rates
• Identify any potential risks or challenges associated with the development, implementation, or market adoption of the product or feature
• Discuss how these risks could impact the success of the opportunity and any potential mitigation strategies
• Based on your analysis, recommend whether to proceed with the opportunity, modify the scope, or explore other alternatives
• Provide a rationale for your recommendation, supported by data and insights from your research
• Summarize the key findings and recommendations from your feasibility study in a concise, easily digestible format for your stakeholders

Overcoming stakeholder management challenges

The ultimate challenge that faces most product managers when conducting a feasibility study is managing stakeholders .

Stakeholders may interfere with your analysis, jumping to conclude that your proposed product or feature won’t work and deeming it a waste of resources. They may even try to prioritize your backlog for you.

Here are some tips to help you deal with even the most difficult stakeholders during a feasibility study:

• Use hard data to make your point — Never defend your opinion based on your assumptions. Always show them data and evidence based on your user research and market analysis
• Learn to say no — You are the voice of customers, and you know their issues and how to monetize them. Don’t be afraid to say no and defend your team’s work as a product manager
• Build stakeholder buy-in early on — Engage stakeholders from the beginning of the feasibility study process by involving them in discussions and seeking their input. This helps create a sense of ownership and ensures that their concerns and insights are considered throughout the study
• Provide regular updates and maintain transparency — Keep stakeholders informed about the progress of the feasibility study by providing regular updates and sharing key findings. This transparency can help build trust, foster collaboration, and prevent misunderstandings or misaligned expectations
• Leverage stakeholder expertise — Recognize and utilize the unique expertise and knowledge that stakeholders bring to the table. By involving them in specific aspects of the feasibility study where their skills and experience can add value, you can strengthen the study’s outcomes and foster a more collaborative working relationship

Final thoughts

A feasibility study is a critical tool to use right after you identify a significant opportunity. It helps you evaluate the potential success of the opportunity, analyze and identify potential challenges, gaps, and risks in the opportunity, and provides a data-driven approach in the market insights to make an informed decision.

By conducting a feasibility study, product teams can determine whether a product idea is profitable, viable, feasible, and thus worth investing resources into. It is a crucial step in the product development process and when considering investments in significant initiatives such as launching a completely new product or vertical.

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Sample Feasibility Reports & Studies

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Sample academic feasibility reports can be found by searching Google Scholar using the keywords business feasibility report  or business feasibility study. For example:

• The UBC public bicycle system feasibility study (Adam Cooper, UBC School of Community and Regional Planning)
• Feasibility study for renovating an old barn into a tasting room for K-Dot winery (Kendall Ott, California Polytechnic State University)
• Feasibility study for a brewpub (John Gallante and Daniel Price, California Polytechnic State University)
• A Feasibility study for establishing a sustainability consulting firm (Susan F. Mathieu, Simon Fraser University)

The following resources provide additional guidance on conducting your feasibility analysis and writing it up:

• Feasibility Study Outline (Iowa State University Extension & Outreach) An example outline of a feasibility report including detailed information about what should be included in each section of the report.
• Feasibility Analysis for the New Venture Nonprofit Enterprise (journal article) This article in the New England Journal of Entrepreneurship explores the value of feasibility analysis for the pre-launch nonprofit enterprise. Note: Access restricted to authorized Brock University users.
• Full Feasibility Analysis (Pearson Education) (PDF) Tools and templates for conducting a full feasibility analysis including: product/service, industry/market, organizational, financial and an overallassessment. Originally published as Appendix 3.1 of the textbook "Entrepreneurship: successfully launching new ventures" by Bruce Barringer and Duane Ireland.
• Evaluating the feasibility of business opportunities (OMAFRA Factsheet) A "How to" Factsheet Prepared by the Ontario Ministry of Agriculture, Food and Rural Affairs (2017)
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How We Design Feasibility Studies

Public health is moving toward the goal of implementing evidence-based interventions. To accomplish this, there is a need to select, adapt, and evaluate intervention studies. Such selection relies, in part, on making judgments about the feasibility of possible interventions and determining whether comprehensive and multilevel evaluations are justified. There exist few published standards and guides to aid these judgments. This article describes the diverse types of feasibility studies conducted in the field of cancer prevention, using a group of recently funded grants from the National Cancer Institute. The grants were submitted in response to a request for applications proposing research to identify feasible interventions for increasing the utilization of the Cancer Information Service among underserved populations.

Introduction

The field of health promotion and disease prevention is moving toward the goal of implementing evidence-based interventions that have been rigorously evaluated and found to be both efficacious and effective. This will encourage the evaluation of the efficacy of additional interventions, using standards of the sort applied in the evidence reviews conducted by the Cochrane Collaboration ( www.cochrane.org ) and the Task Force on Community Preventive Services ( www.thecommunityguide.org ).

By intervention is meant any program, service, policy, or product that is intended to ultimately influence or change people’s social, environmental, and organizational conditions as well as their choices, attitudes, beliefs, and behaviors. Both early conceptual models of health education 1 and more modern versions of health promotion 2 indicate that interventions should focus on changeable behaviors and objectives; be based on critical, empirical evidence linking behavior to health; be relevant to the target populations; and have the potential to meet the intervention’s goals. In cancer prevention and control, intervention efficacy has been defined as meeting the intended behavioral outcomes under ideal circumstances. In contrast, effectiveness studies can be viewed as evaluating success in real-world, non-ideal conditions. 3

Clearly, because of resource constraints, not all interventions can be tested for both efficacy and effectiveness. Guidelines are needed to help evaluate and prioritize those interventions with the greatest likelihood of being efficacious. Feasibility studies are relied on to produce a set of findings that help determine whether an intervention should be recommended for efficacy testing. The published literature does not propose standards to guide the design and evaluation of feasibility studies. This gap in the literature and in common practice needs to be filled as the fields of evidence-based behavioral medicine and public health practice mature.

This article presents ideas for designing a feasibility study. Included are descriptions of feasibility studies from all phases of the original cancer-control continuum: from basic social science to determine the best variables to target, through methods development, to efficacy and effectiveness studies, to dissemination research. The term feasibility study is used more broadly than usual to encompass any sort of study that can help investigators prepare for full-scale research leading to intervention. It is hoped that this article can prove useful both to researchers when they consider their own intervention design and to reviewers of intervention-related grants.

Employing Feasibility Studies

Feasibility studies are used to determine whether an intervention is appropriate for further testing; in other words, they enable researchers to assess whether or not the ideas and findings can be shaped to be relevant and sustainable. Such research may identify not only what—if anything—in the research methods or protocols needs modification but also how changes might occur. For example, a feasibility study may be in order when researchers want to compare different research and recruitment strategies. Gustafson 4 found that African-American women report more mistrust of medical establishments than do white women. A feasibility study might qualitatively examine women’s reactions to a specific intervention handout that attempted to promote the trustworthiness in a medical institution. If women’s reactions were positive and in line with increased trust in the institution, the feasibility study would have served as a precursor to testing the effects of that handout in recruiting women to a randomized prevention trial. 5

Performing a feasibility study may be indicated when:

• community partnerships need to be established, increased, or sustained;
• there are few previously published studies or existing data using a specific intervention technique;
• prior studies of a specific intervention technique in a specific population were not guided by in-depth research or knowledge of the population’s socio-cultural health beliefs; by members of diverse research teams; or by researchers familiar with the target population and in partnership with the targeted communities;
• the population or intervention target has been shown empirically to need unique consideration of the topic, method, or outcome in other research; or
• previous interventions that employed a similar method have not been successful, but improved versions may be successful; or previous interventions had positive outcomes but in different settings than the one of interest.

Appropriate Areas of Focus

It is proposed that there are eight general areas of focus addressed by feasibility studies. Each is described below and summarized in Table 1 .

• Acceptability . This relatively common focus looks at how the intended individual recipients—both targeted individuals and those involved in implementing programs—react to the intervention.
• Demand . Demand for the intervention can be assessed by gathering data on estimated use or by actually documenting the use of selected intervention activities in a defined intervention population or setting.
• Implementation . This research focus concerns the extent, likelihood, and manner in which an intervention can be fully implemented as planned and proposed, 6 often in an uncontrolled design.
• Practicality . This focus explores the extent to which an intervention can be delivered when resources, time, commitment, or some combination thereof are constrained in some way.
• Adaptation . Adaptation focuses on changing program contents or procedures to be appropriate in a new situation. It is important to describe the actual modifications that are made to accommodate the context and requirements of a different format, media, or population. 7
• Integration . This focus assesses the level of system change needed to integrate a new program or process into an existing infrastructure or program. 8 The documentation of change that occurs within the organizational setting or the social/physical environment as a direct result of integrating the new program can help to determine if the new venture is truly feasible.
• Expansion . This focus examines the potential success of an already-successful intervention with a different population or in a different setting.
• Limited-efficacy testing . Many feasibility studies are designed to test an intervention in a limited way. Such tests may be conducted in a convenience sample, with intermediate rather than final outcomes, with shorter follow-up periods, or with limited statistical power.

Key areas of focus for feasibility studies and possible outcomes

Relating to the Real World

Green and Glasgow 9 have pointed out the incongruity between increasing demands for evidence-based practice and the fact that most evidence-based recommendations for behavioral interventions are derived from highly controlled efficacy trials. The highly controlled nature of efficacy research is good in that it is likely more possible to draw causal inferences from the designs used (often randomized trials). But this focus on internal validity can reduce external relevance, and generalizability can decrease, limiting dissemination. Practitioners call for more studies to be conducted in settings where community constraints, for example, are prioritized over optimal conditions and settings—specifically testing the fit of interventions in real-world settings. Feasibility studies should be especially useful in helping to fill this important gap in the research literature, and new criteria and measures have been proposed (e.g., Reach, Efficacy/Effectiveness, Adoption, Implementation, Maintenance [RE-AIM]) to evaluate the relevant outcomes. 10

To ensure that feasibility studies indeed reflect the realities of community and practice settings, it is essential that practitioners and community members be involved in meaningful ways in conceptualizing and designing feasibility research. Adhering to published principles of community-based participatory research 11 , 12 should help in this regard, with the added benefit of helping to determine whether interventions are truly acceptable to their intended audience.

Design Options for Feasibility Studies

The choice of an optimal research design depends upon the selected area of focus. This premise holds equally for feasibility studies and for other kinds of research. As the knowledge base and needs for an intervention progress, different questions come to the fore. In the initial phase of developing an intervention, Can it work? is usually the main question. Given some evidence that a treatment might work, the next question is generally Does it work? , and does it do so under ideal or actual conditions compared to other practices. Those are the questions addressed by efficacy and effectiveness studies. Finally, given evidence that an intervention is efficacious and effective, the question Will it work? is applied to the myriad contexts, settings, and cultures that might translate the intervention into practice. Table 2 outlines possible intervention designs according to the focus of the performed feasibility study.

Sample study designs: phases of intervention development by area of focus

Can It Work?

A variety of different research designs can address appropriately the Can it work? question. Sometimes the idea for an intervention derives from observations of actual practice. A practice-derived treatment hypothesis may be able to be refined efficiently by conducting a case-control feasibility study. Such a study might examine retrospectively whether better outcomes are associated with being exposed versus not being exposed to a tobacco policy. Or the same question might be addressed prospectively via a cohort study. A cohort feasibility study would follow and compare the outcomes of individuals who did or did not hear about the policy. The advantage of the cohort design, compared to the case-control design, is that it establishes the timing and directionality of effects. The disadvantage is that the need for follow-up means that cohort studies take longer to complete. Compared to an RCT, the cohort study’s main disadvantage is that participants are not assigned randomly to treatment. Thus, their outcomes may differ not because of the intervention but because the participants or their circumstances were inherently different from the outset.

Practice-derived research hypotheses are sometimes described as originating trench to bench. The other major pipeline of intervention development proceeds bench to trench by deriving hypotheses about active intervention mechanisms from basic research. Often the study involves a laboratory context that mimics or is analogous to the treatment context. For example, messages may be seen on a computer screen rather than on the ultimately intended billboard. Stated intentions to seek cancer screening may be the outcome instead of the actual performance of screening behaviors.

The drawback of experimental feasibility studies is that they have relatively limited external validity. On balance, however, they have two great advantages. First, experiments permit random or unbiased assignment to intervention conditions. Therefore, some comparison to an unbiased control from the same population is available. Second, experiments afford a very time- and cost-effective means of testing whether an intervention could work. It is the authors’ opinion that the experiment is a vastly underutilized research design for feasibility studies. Small-scale experiments that more closely approximate the clinical or community context of an RCT can also be used to test other aspects of intervention feasibility. Questions about safety; optimal dose (treatment intensity, frequency, duration); and the sequencing of treatment all can be tested efficiently in experiments before the launching of a full-scale clinical trial.

Does It Work?

Eventually preliminary positive results can suggest that an intervention is ready to be tested in a full-scale trial whose results should influence health practice. At that juncture, a variety of new feasibility questions must be addressed. One concern is whether the outcome can be measured reliably and validly. Psychometric studies of test-instrument development and validation could be the kind of feasibility research needed to address that question. In-depth qualitative assessments may be an asset to measure development. A second question is whether the intervention can be clarified and conveyed in a disseminatable format (e.g., a manual or brochure) that permits replication of the treatment.

A major feasibility issue that precedes the mounting of a full evaluation trial is the need to derive an effect-size estimate for the treatment. A small-scale randomized trial that mirrors the intended efficacy study may be valuable here. Such feasibility studies are sometimes called Phase-I or Phase-II clinical trials. Usually the design is an RCT because that study design affords the greatest internal validity (i.e., it maximizes confidence that changes in outcomes can be attributed causally to the treatment). Typically, the Phase-I or -II trial entails a smaller sample size than a full Phase-III efficacy/effectiveness trial. Earlier-phase trials are used, in part, to estimate effect size, power, and sample size for a full Phase-III trial.

Will It Work?

Ideally, a treatment will have been shown to be both efficacious and effective before being implemented broadly. New feasibility questions now arise, as interest shifts to disseminating and implementing broadly the intervention in diverse practice systems. It becomes critical to understand the perspectives of different stakeholders who will affect and be affected by the revised intervention. Those stakeholders form a system whose gears must mesh smoothly for the intervention to be taken up and integrated into practice. Qualitative research methods offer especially useful tools for understanding institutional and community cultures. 13

Other kinds of feasibility questions that may be salient at the dissemination or implementation stage concern the potential extrapolation of the intervention beyond the populations and modalities in which it was studied originally. A frequent feasibility question is whether the treatment can be used for a new demographic subgroup—new in terms of ethnicity, culture, SES, geography, or ethnicity. That question often incorporates two sub-questions. One is whether the treatment will be found acceptable to the new population—a feasibility question best approached through qualitative research. The other sub-question asks whether the treatment retains its efficacy in the new population, in new settings, or with new health outcomes. Sometimes a completely distinct and unintended treatment or intervention emerges from such initial feasibility research and warrants additional study.

A final and commonly posed feasibility question is whether a new treatment-delivery channel or intervention method will work. For instance, relevant questions can concern whether the intervention is able to be delivered in group versus individual format, over the telephone instead of face-to-face, or in web- or PDA-based formats. There may be questions about whether paraprofessionals or peers or a computer can deliver the intervention as intended. Usually, these feasibility questions and others will be addressed initially through qualitative interviewing and surveys, followed by experimentation.

This article identifies the construct feasibility as a series of questions and methods. For an intervention to be worthy of testing for efficacy, it must address the relevant questions within feasibility. It is also important to discard or modify those interventions that do not seem to be feasible as a result of data collected during the feasibility-study phase. Using feasibility research in the intervention-research process as a determinant for accepting or discarding an intervention approach is a key way to advance only those interventions that are worth testing (i.e., have a high probability of efficacy).

Scientists who propose feasibility studies are encouraged to do so while keeping in mind the research questions outlined in this article. As with any research, an investigator should choose the area of focus that best matches the needs of the situation. Methodologies to address each area may vary and can be creatively combined to form a package appropriate to the setting, community, or population under study. Reviewers of grants, as well as investigators and grants officials, will also want to pay attention to the varied areas of focus that fall under the umbrella of feasibility. Smaller studies with mixed methods might yield more innovative feasibility results.

Acknowledgments

The projects described were supported by the following six grants from the National Cancer Institute: 1R21CA126325-01, 1R21CA126390-01, 1R21CA126326-01, 1R21CA126373-01, 1R21CA126450-01, and 1R21CA126321-01. The contents of this manuscript are solely the responsibility of the authors and do not necessarily represent the official views of the National Cancer Institute.

No financial disclosures were reported by the authors of this paper.

• Open access
• Published: 07 September 2015

Maximising the impact of qualitative research in feasibility studies for randomised controlled trials: guidance for researchers

• Alicia O’Cathain 1 ,
• Pat Hoddinott 2 ,
• Simon Lewin 3 , 4 ,
• Kate J. Thomas 1 ,
• Bridget Young 5 ,
• Joy Adamson 6 ,
• Yvonne JFM. Jansen 7 ,
• Nicola Mills 8 ,
• Graham Moore 9 &
• Jenny L. Donovan 8  

Pilot and Feasibility Studies volume  1 , Article number:  32 ( 2015 ) Cite this article

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Feasibility studies are increasingly undertaken in preparation for randomised controlled trials in order to explore uncertainties and enable trialists to optimise the intervention or the conduct of the trial. Qualitative research can be used to examine and address key uncertainties prior to a full trial. We present guidance that researchers, research funders and reviewers may wish to consider when assessing or undertaking qualitative research within feasibility studies for randomised controlled trials. The guidance consists of 16 items within five domains: research questions, data collection, analysis, teamwork and reporting. Appropriate and well conducted qualitative research can make an important contribution to feasibility studies for randomised controlled trials. This guidance may help researchers to consider the full range of contributions that qualitative research can make in relation to their particular trial. The guidance may also help researchers and others to reflect on the utility of such qualitative research in practice, so that trial teams can decide when and how best to use these approaches in future studies.

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Introduction

The United Kingdom Medical Research Council (UK MRC) guidance on the development and evaluation of complex interventions recommends an early phase of assessing feasibility prior to a full evaluation [ 1 ]. In this feasibility and pilot phase, researchers can identify and address problems which might undermine the acceptability and delivery of the intervention or the conduct of the evaluation. When the outcome evaluation is a randomised controlled trial, this feasibility phase increases the chances of researchers evaluating the optimum intervention using the most appropriate and efficient recruitment practices and trial design. Alternatively, at the feasibility phase, researchers may identify fundamental problems with the intervention or trial conduct and return to the development phase rather than proceed to a full trial. The feasibility phase thus has the potential to ensure that money is not wasted on an expensive trial which produces a null result due to problems with recruitment, retention or delivery of the intervention [ 2 ].

Feasibility studies for randomised controlled trials can draw on a range of methods. Some feasibility studies use quantitative methods only. For example, researchers concerned about whether they could recruit to a trial, and whether the intervention was acceptable to health professionals and patients, undertook a pilot trial with outcomes related to recruitment and surveys to measure the acceptability of the intervention [ 3 ]. Increasingly, qualitative or mixed methods are being used within feasibility studies for randomised controlled trials. A review of 296 journal articles reporting the use of qualitative research with trials published between 2008 and 2010 identified that 28 % of articles reported qualitative research undertaken prior to the full trial [ 4 ]. Qualitative research was not only undertaken with trials of complex interventions but was also used with trials of drugs and devices where researchers recognised the complexity of the patient group receiving the intervention or the complexity of the environment in which the trial was to be undertaken [ 5 ]. Yet, there is little guidance available on how to use qualitative methods within feasibility studies for trials. Here, we offer guidance in order to help researchers maximise the opportunities of this endeavour.

Getting the language right: feasibility studies, pilot studies and pilot trials

Before offering guidance on using qualitative methods at the feasibility phase of a trial, we first need to be clear about the meaning of the term ‘feasibility study’ because the language used to describe the preparatory phase for a trial is inconsistent [ 6 ]. These types of studies can be called feasibility or pilot studies, with researchers making no clear distinction between the two when reporting their studies in journal articles [ 7 ]. The MRC guidance for developing and evaluating complex interventions describes this as the ‘feasibility and piloting’ stage. The UK funding body, the National Institute for Health Research (NIHR), offers definitions of feasibility and pilot studies, distinguishing between the two [ 8 ]. A feasibility study is undertaken to address the question ‘can the planned evaluation be done?’. In contrast, pilot studies are miniature versions of the main study. In the case of a randomised controlled trial, the pilot study is a pilot trial. A feasibility study for a randomised controlled trial does not necessarily involve a pilot randomised controlled trial [ 1 ] but may do so, and indeed, some researchers have described their studies as a ‘feasibility study and pilot trial’ in the titles of their journal articles [ 9 ]. Other terms may be used to describe a feasibility study for a trial, for example a ‘formative’ study as part of ‘evidence-based planning’ [ 10 ] or an exploratory pilot study [ 11 ] or a process evaluation with a pilot trial [ 12 ]. In this guidance, we use the term ‘feasibility study’ to describe any study that addresses the question of whether the planned evaluation trial can be done regardless of the labels other researchers might use.

The need for guidance on using qualitative methods in feasibility studies for randomised controlled trials

With the use of qualitative research in feasibility studies for randomised controlled trials becoming increasingly common, guidance on how to do this would be useful to both researchers and those commissioning and reviewing this research. Guidance is available or emerging in areas related to feasibility studies for trials. Guidance exists for undertaking quantitative pilot studies [ 13 , 14 ], and a Consolidated Standards of Reporting Trials (CONSORT) statement for reporting feasibility studies (rather than undertaking them) is under development [ 6 ]. UK MRC guidance has recently been developed for process evaluations undertaken alongside randomised controlled trials [ 15 ]. This new guidance recommends that, in most cases, it is useful to use both qualitative and quantitative methods concurrently with a pilot or full trial. It also states that as feasibility studies will usually aim to refine understanding of how the intervention works, and facilitate ongoing adaptation of intervention and evaluation design in preparation for a full trial, qualitative data will likely be of particular value at this stage. However, that guidance does not address in any depth issues specific to the use of qualitative research during the feasibility phase of a trial. There is also guidance for writing proposals for using qualitative research with trials [ 16 ] and reporting qualitative research undertaken with trials [ 5 ]. However, the feasibility phase of a trial is unique in that it may involve the ongoing adaptation of plans for conducting the trial and of the intervention in preparation for the full trial. Therefore, our guidance complements recent and upcoming guidance by focusing on the role of qualitative research specifically rather than the overall feasibility study and by addressing the iterative nature of research that may occur in feasibility studies for trials.

The focus of the guidance

This guidance focuses on how to use qualitative research within a feasibility study undertaken prior to a fully randomised controlled trial where the aim is to improve the intervention or trial conduct for the full trial. Appropriate and well-conducted qualitative research can make an important contribution to feasibility studies for randomised controlled trials. The guidance presented here may help researchers to consider the full range of possible contributions that qualitative research can make in relation to their particular trial and reflect on the utility of this research in practice, so that others can decide when and how best to use qualitative research in their studies. Prior to presenting the guidance, we clarify six issues about the scope of the guidance:

A feasibility study may or may not include a pilot randomised controlled trial.

The feasibility phase follows the development phase of an intervention, in which qualitative methods may also be used [ 1 ]. Although there may be overlap between the development of the intervention and the feasibility phase of the trial, this guidance assumes that an intervention has been developed, but that it might need further modification, including assessment of its practicability in the health care setting.

Qualitative methods can be used alone or in conjunction with quantitative methods, such as modelling and surveys, in the feasibility phase [ 1 ].

The definition of qualitative research is the explicit use of both qualitative data collection and analysis methods. This is distinguished from trialists’ reflective reports on the problems that they encountered in running a feasibility study and from the use of methods that may draw on qualitative approaches but do not meet our definition. For example, some researchers report using ‘observation’ and ‘field notes’ but show no evidence of qualitative data collection or analysis in their article and do not label these as qualitative research [ 8 ]. Reflective practice by trialists and intervention deliverers is important for learning about trial conduct but is not the focus of the guidance presented here.

The guidance focuses on maximising the opportunities of qualitative research by presenting options, rather than delineating required actions. This is based on the understanding that the strengths of qualitative research are its flexibility and responsiveness to emerging issues from the field.

The guidance may be used by researchers when writing proposals and undertaking or reporting qualitative research within feasibility studies. If the feasibility study includes a pilot randomised controlled trial, reporting should follow the CONSORT statement that is currently under development [ 6 ].

Processes used to develop the guidance

This guidance is based on the experience of the authors of this paper. The authors came together in a workshop to write this guidance after meeting to discuss a study of how to maximise the value of qualitative research with randomised controlled trials which had been undertaken by two of the authors of this guidance (AOC, KJT) [ 4 , 5 ]. That study involved undertaking a systematic mapping review of journal articles reporting qualitative research undertaken with randomised controlled trials and interviews with qualitative researchers and trialists; some of these articles are referenced to illustrate points made. Towards the end of this study, the UK MRC Hubs for Trials Methodology Research funded a conference to disseminate the findings from this study and a related 1-day workshop to develop guidance for using qualitative research with trials. The nine workshop members, all of whom are authors of this guidance, were identified for their experience in using qualitative research with trials. One member had also published a review of the use of qualitative research alongside trials of complex interventions [ 17 ].

The workshop focused on feasibility studies because these were identified as an underdeveloped aspect of trial methodology. The workshop members put forward items for the guidance, based on their experience and expert knowledge. Discussion took place about the importance of items and the different viewpoints within each item. Draft guidance was produced by AOC after the workshop. Subsequent development of the guidance was undertaken by email correspondence and meetings between sub-groups of the workshop membership. A draft of the guidance was then presented at a meeting of an MRC Methodology Hub for researchers with experience in undertaking qualitative research in feasibility studies for trials. Attendees viewed the guidance as helpful, and further insights emerged from this process, particularly around the analysis domain of the guidance.

The guidance

The guidance is detailed below and summarised in Table  1 . The structure follows the stages of a research project from identifying research questions to reporting findings and consists of 16 items within five domains: research questions, data collection, analysis, teamwork and reporting. Although the table presents a neat and linear process, in practice, this research is likely to be messy and iterative, with researchers moving backwards and forwards between steps as insights emerge and the priority of different research questions changes. Figure  1 shows how the guidance meshes with this more dynamic process. We illustrate some of the items in the guidance using case studies of published qualitative research undertaken within feasibility studies for trials. Some items tend not to be visible in publications, particularly those on teamworking, and therefore are not illustrated in these case studies.

Key steps for qualitative research in a feasibility study for a trial

Research questions

When designing the feasibility study, consider the full range of questions that could be addressed. Then, consider those best addressed by qualitative research.

Some researchers have produced lists of questions that could be addressed in feasibility studies for trials, focusing on the conduct of the trial and on the intervention [ 8 ]. A review of feasibility and pilot trials identified the range of questions actually addressed in a subset of feasibility studies that included a randomised controlled trial, [ 18 ] although it was not clear which questions were actually addressed by qualitative research. Other researchers have identified frameworks or typologies of questions for feasibility studies. For example, a description of feasibility studies for cancer prevention in the USA identified a typology of the questions addressed and some of the methodologies used [ 19 ]. Qualitative research was identified as useful for issues concerning acceptability, implementation, practicality and expansion (in terms of understanding use of a known intervention in a different sub-group). There is also a framework for the work undertaken by qualitative research with trials [ 4 ]. Using the latter framework, we drew on the literature cited here and our own experience of feasibility studies to identify the range of issues qualitative research can address in a feasibility study for a trial (Table  2 ). Although not noted explicitly in Table  2 , the context in which the intervention is delivered is relevant to a large number of the questions identified in Table  2 and should be considered during a feasibility study as well as in the full trial [ 15 ]. The important role of context within complex intervention trials was highlighted in a recent study which found that contextual threats to trial conduct were often subtle, idiosyncratic and complex [ 20 ], and therefore best explored using qualitative research.

Prioritise the questions for the qualitative research by identifying key uncertainties.

Many questions can be addressed in a feasibility study, but resource limitations require that these are prioritised. The whole team will need to identify the key uncertainties that the feasibility study should address. Thereafter, a search of the evidence base for systematic reviews (including mixed reviews based on both qualitative and quantitative researches) relevant to these uncertainties may yield useful insights. Where no systematic reviews exist, and there is no resource to undertake them, studies of similar interventions or similar types of trials may be helpful. Questions on which there is currently little or no existing evidence can then be prioritised for new primary qualitative research.

Consider often overlooked questions.

Researchers commonly use qualitative research to address the acceptability and feasibility of the intervention [ 10 , 21 – 24 ] or its perceived benefits [ 11 , 22 ]. During our workshop, we identified four important questions that can be overlooked and are worth considering:

How do the intervention components and delivery processes work in the real world?

Guidance for process evaluations recommends developing a logic model or explanatory model of the intervention [ 15 ]. This logic model includes the intervention components and pathways to delivering desired outcomes. However, even if trialists, intervention deliverers, patients and the public, and qualitative researchers have been involved in developing this logic model, some aspects of the intervention in practice may be hidden or not understood, and these hidden aspects may be the key to delivering outcomes. For example, intervention deliverers may adapt the intervention in unanticipated ways in order to deliver it in their local context. Qualitative research, including non-participant observation and interviews with intervention deliverers and recipients, may be helpful in identifying how and why they have done this. This may facilitate replication of the intervention in the subsequent trial or rollout and also raise questions about the most appropriate trial design required. In addition, it may offer insights into which aspects of the intervention should be fixed or flexible in the full trial [ 25 ] and how the intervention needs to be tailored to different contexts. The wider context in which the trial operates may also affect the implementation of the intervention, the control or the trial, for example staff shortages, media scares or the economic climate. Intervention vignettes can be a helpful tool in qualitative interviews to talk potential participants through each step of an intervention in a concrete way [ 26 ].

How does the choice of comparator affect the trial?

The focus of qualitative research undertaken with trials tends to be on the intervention, but qualitative research can also help to understand the control. Interventions can be compared with active controls or usual care, and there may be issues to explore regarding the comparability of an active control and the intervention or the extent to which the trial may change usual care [ 27 ]. Such research may help the trial team to consider whether there is sufficient difference between the groups being compared in any trial. For instance, the planned intervention may not be that different from usual care in some settings and may need to be enhanced prior to use in the full trial. Differences between the intervention and usual care will have implications for the relative effectiveness of the intervention and the transferability of the trial findings to other contexts.

Understanding usual care is also important because it represents a key feature of the context in which the new intervention will be implemented. Where a new intervention represents a fundamental change from usual practice, one would perhaps expect to encounter greater challenges in implementation and would need to pay more attention to the resources and structures required to achieve change compared to where the intervention represents a more incremental change.

To what degree does equipoise exist?

Key stakeholders may not be in equipoise around the intervention [ 28 ]. These stakeholders include the trial designers, recruiters, patient and public representatives and participants, as well as health care staff who are not directly involved in the trial but will use the evidence produced by it. A lack of equipoise amongst stakeholders may lead to poor recruitment practices, low recruitment rates or a lack of utility of the evidence in the real world [ 29 ]. Consideration of the question of equipoise at the feasibility phase can offer opportunities to address this, for example through education, increasing awareness and enabling open discussion of the issues, or highlight the option of not progressing to an expensive full trial [ 30 , 31 ]. This has been highlighted as a particular problem for behavioural intervention trials, with recommendations to explore this issue at the pilot stage of a trial [ 32 ].

Design and data collection

Consider the range of qualitative methods that might be used to address the key feasibility questions, including dynamic or iterative approaches which allow learning from early qualitative research findings to be implemented before further qualitative research is undertaken as part of the feasibility study.

When undertaking qualitative research in feasibility studies for trials, it is common for researchers to undertake a cross-sectional interview study with intervention deliverers and recipients and not to specify explicitly an approach or design [ 12 , 21 , 22 , 24 ]. Although sometimes it may be important to mirror closely the expected approach of the planned full trial in terms of recruitment practices, it may be helpful for the research team to take a flexible approach to the qualitative research. The team may make changes during the feasibility study itself, based on findings from the qualitative research, and then assess the impact of these changes [ 33 ]. This is sometimes called a ‘dynamic approach’. Such changes could include taking action to modify the pilot trial conduct, as well as working with intervention stakeholders to feedback and resolve difficulties in implementing the intervention. Further qualitative research can then be undertaken to inform further improvements throughout the feasibility study. This can help to optimise trial conduct or an intervention rather than simply identify problems with it. Case study 1 describes an example of this dynamic approach to data collection [ 33 ].

Other approaches suitable for feasibility studies include iterative ‘rapid ethnographic assessment’ which has been used to adapt and tailor interventions to the different contexts in which the trial was planned [ 34 ]. This approach applies a range of methods including participant observation, focus groups, interviews and social mapping [ 34 ]. Other researchers have used ‘mixed methods formative research’ at the feasibility stage [ 10 ] and action research where potential participants and practitioners are actively involved in the research to assess the feasibility of an intervention and to ensure a good intervention-context fit [ 35 , 36 ]. For instance, a participatory approach informed by the principles of action research was used to design, implement and evaluate the FEeding Support Team (FEST) intervention [ 35 , 36 ].

A dynamic or iterative approach to qualitative research in a feasibility study, where concurrent changes are made to the intervention or trial conduct, would not be suitable for a full trial where care is taken to protect the experiment. In a fully randomised controlled trial, researchers may be concerned that an excessive volume or intensity of qualitative research may contaminate the experiment by acting as an intervention [ 37 ]. Or, they may be concerned about early reporting of findings of the qualitative research detrimentally affecting staff delivering the intervention or the trial [ 38 ]. Any risks will depend on the size and type of the trial and the qualitative research and may be far outweighed by the benefits in practice of undertaking the qualitative research throughout the full trial. These concerns are less relevant during the feasibility phase.

Select from a range of appropriate qualitative methods to address the feasibility questions and provide a rationale for the choices made; non-participant observation may be an important consideration.

Researchers need to select from a range of qualitative methods including telephone and face-to-face interviews, focus groups, non-participant observation, paper/audio/video diaries, case notes kept by health professionals and discussions in online chat rooms and social media. Decisions on data collection and analysis methods should depend on the research questions posed and the context in which data will be collected. To date, feasibility studies for trials have often tended to rely solely upon interviews or focus group discussions with participants and intervention deliverers and have not drawn on the wider range of methods available [ 21 – 24 ]. Researchers tend also to use focus groups and may do this because they think they are cheap and quick when in practice, they are challenging to both organise and analyse. Some researchers are explicit about why focus groups are the best approach for their study. For example, in a randomised trial on the use of diaphragms to prevent sexually transmitted infection, the research team conducted 12 focus groups with women before and after they received the intervention to consider its acceptability and feasibility. This data collection approach was justified on the basis that the researchers felt focus groups would generate more open discussion [ 10 ]. However, focus groups may be problematic in a feasibility study because they tend towards consensus and can mask dissenting views, with the possibility of premature conceptual closure. It may also be the case that participants who are prepared to talk openly within a group setting may differ from the target population for a trial as, in general, focus groups tend to attract more educated and confident individuals [ 39 ].

Non-participant observation, including the use of audio or video recordings of intervention delivery or recruitment sessions, can help to identify implementation constraints at the feasibility phase. Observation has also proved to be very useful when exploring recruitment practices for a full trial [ 33 , 40 ]. ‘Think aloud’ protocols may also be helpful—for example, in one feasibility study of a technology to deliver behaviour change, the approach was used to allow users to talk about the strengths and weaknesses of the technology as they attempted to use it [ 41 ].

Pay attention to diversity when sampling participants, groups, sites and stage of intervention.

All of the different approaches to sampling in qualitative research—such as purposive, key informant and snowballing—are relevant to feasibility studies. A particular challenge for sampling within the feasibility phase is the need to address the wide range of uncertainties about the full trial or the intervention within the resource limitations of the study.

It can be difficult to decide when enough has been learnt about the trial intervention or the conduct of the trial (or when data saturation has occurred) to recommend moving on to the full trial. Researchers will need to make pragmatic decisions on which emerging analysis themes warrant more data collection and where sufficient data are available. In practice, sample sizes for qualitative research in feasibility studies are usually small (typically between 5 and 20 individuals [ 10 , 12 , 22 – 24 ]). This may be reasonable, given that simulations suggest that 10 users will identify a minimum of 80 % of the problems with the technology during usability testing, and 20 users will identify 95 % of the problems [ 42 ]. However, sample size will be dependent on the study; for example, there may be therapist effects to consider and a need to sample a range of patients using different therapists or a range of contexts.

Diversity of sampling is probably more important at the feasibility phase than the number of interviews or focus groups conducted, and some researchers have rightly highlighted as a limitation the lack of diversity in the sampling process for their qualitative feasibility study [ 20 ]. Paying attention to the diversity of sampling needed may be important for identifying the wide range of problems likely to be faced by the group/s to which the intervention is directed. Including a diverse range of health professionals and patients (for an individual-level trial) and sites (for a cluster trial) can be beneficial. In individual-level multicentre trials, including more than one centre at the feasibility stage can reduce the chance of refining an intervention or trial that will only work within that single centre. As in other forms of qualitative research, sampling may be very broad at the start of the feasibility study, when there are lots of questions and uncertainty, with later sampling focusing on disconfirming cases to test emerging findings.

Appreciate the difference between qualitative research and public and patient involvement.

In the UK and many other settings, it is considered good practice to have public and patient involvement in health research [ 43 ]. This is highly relevant to a feasibility study where patients and the public can contribute to prioritising which key uncertainties to address and are therefore involved at an early stage of the design of the full trial. Indeed, there is guidance available on patient and public involvement in trials, showing how service users can be involved at the feasibility/pilot stage of a trial by being members of the management group, steering committee and research team and by contributing to the design, analysis and reporting of the feasibility study [ 44 ]. A potential concern is that some researchers conflate qualitative research and public and patient involvement; this may be more common during a feasibility study if the public or patient involvement group is asked to provide feedback on the intervention. Although patient and public representatives on research teams can provide helpful feedback on the intervention, this does not constitute qualitative research and may not result in sufficiently robust data to inform the appropriate development of the intervention. That is, qualitative research is likely to be necessary in conjunction with any patient and public involvement. Case study 2 describes an example of a qualitative study undertaken with patient involvement [ 45 ].

Consider the timing of analysis, which might be in stages in a dynamic approach.

For many types of qualitative research, it is suggested that data are analysed as they are collected so that the sampling for the next round of data collection benefits from the analysis of these earlier data. If a dynamic approach is applied in a feasibility study, it is important to have available sufficient resources to analyse the data collected early in the study in order to feed findings back to the wider team and allow changes to be made to the intervention and trial conduct prior to the next set of data collection. This can be quite different from using qualitative research in the full trial, where all data might be collected prior to any formal analysis and sharing of findings with the wider team.

Many different approaches to analysis can be used, including framework, thematic and grounded theory-informed analysis.

Many different approaches can be used to analyse qualitative data in the context of a feasibility study, and the approach should be chosen based on the research question and the skills of the research team. Some researchers simply describe the steps they take within their analysis rather than citing a named approach [ 12 ]. Other researchers use combinations of known approaches such as framework analysis and grounded theory [ 36 ].

Data can cover a breadth of issues, but the analysis may focus on a few key issues.

An important challenge for analysis may be the specificity of the questions that need to be addressed by a qualitative feasibility study, in order to inform trial development. Analysis will need to focus on the questions prioritised at the beginning, or those emerging throughout the feasibility study, from the large amounts of qualitative data generated. The analysis process needs to consider ‘fatal flaws’ that may require tailoring or refining of the intervention or trial conduct, as well as the mechanisms of action for the intervention.

Teamworking

Have a qualitative researcher as part of feasibility study design team.

Planning the feasibility study needs qualitative expertise to determine what can be done, how long it might take, how it is best done and the resources needed. It is therefore important that an expert in qualitative methods be included in both the planning and delivery teams for the feasibility study.

Consider relationships between the qualitative researchers and the wider feasibility study team.

How the qualitative researchers interact with the wider feasibility study team is an important concern. If study participants view the qualitative researchers as closely aligned with the team delivering the intervention or conducting the pilot trial, then participants may feel less able to offer honest criticisms of the intervention or trial conduct. On the other hand, where qualitative researchers work too independently from the wider team, they may not develop a deep understanding of the needs of the trial and the implications of their findings for the trial.

Qualitative researchers may identify issues that are uncomfortable for the rest of the research team. For example, they may consider that an intervention does not simply need refining but has a fundamental flaw or weakness in the context in which it is being tested. This may be particularly difficult if the intervention developer is part of the team. Indeed, some members of the team may not be in equipoise about the intervention (see earlier); they may have strong prior beliefs about its feasibility, acceptability and effectiveness and be unable to acknowledge any weaknesses. However, without openness to change, the qualitative research is unlikely to reach its potential for impact on the full trial. On the other hand, the wider team may need to challenge the findings of the qualitative research to ensure that any proposed changes are necessary. Qualitative researchers may also identify problems with the trial conduct that the rest of the team do not see as important because, for example, the recruitment statistics are adequate or it is an effort to change plans. There may also be tensions between what the trial design team need and what the qualitative researcher sees as important. For instance, the trial team may want to understand the feasibility of the intervention whilst the qualitative researcher is more interested in understanding mechanisms of action of the intervention. The team will need to discuss these differences as they plan and undertake the research. The only solution to these tensions is open communication between team members throughout the feasibility study.

Consider who will make changes to the intervention or trial conduct.

Qualitative researchers can identify strengths and weaknesses of the intervention or the conduct of the trial. However, they are usually not responsible for redesigning the intervention or trial either during the feasibility study (if a dynamic approach is taken) or at the end of the feasibility study when the full trial is being considered and planned. It is helpful to be explicit about who is responsible for making changes based on the qualitative findings and how and when they will do this.

Publish feasibility studies where possible because they help other researchers to consider the feasibility of similar interventions or trials.

Other researchers can learn from feasibility studies, and where this is likely to be the case, we recommend publishing them in peer-reviewed journal articles. Other researchers might be willing to take forward to full trial an intervention that the original researchers were unable or unwilling to take beyond the feasibility study. Or, other researchers might learn how to develop better interventions or trials within the same field or understand which qualitative methods are most fruitful in different contexts. Publishing what went wrong within a feasibility study can be as helpful as publishing what went right. Explicit description of how decisions were made about which research questions and uncertainties were prioritised may help others to understand how to make these types of decisions in their future feasibility studies.

Researchers may choose to publish the qualitative findings in the same article as the findings from the pilot trial or quantitative study or may publish them separately if there are detailed and different stories to tell. For example, Hoddinott and colleagues published separate articles related to the outcome evaluation and the process evaluation of a feasibility study of a breastfeeding intervention for women in disadvantaged areas [ 35 , 36 ]. Feasibility studies may generate multiple papers, each of which will need to tell one part of a coherent whole story. Regardless of how many articles are published from a single feasibility study, identifying each one as a feasibility study in the article title will help other researchers to locate them.

Describe the qualitative analysis and findings in detail.

When publishing qualitative research used with trials, researchers sometimes offer very limited description of the qualitative methods, analysis and findings or rely on limited data collection [ 5 , 17 ]. This ‘qual-lite’ approach limits the credibility of the qualitative research because other researchers and research users cannot assess the quality of the methods and interpretation. This may be due to the word limits of journal articles, especially if a range of quantitative and qualitative methods are reported in the same journal article. Electronic journals allowing longer articles, and the use of supplementary tables, can facilitate the inclusion of both more detail on the methods used and a larger number of illustrative data extracts [ 12 ]. Researchers may wish to draw on guidelines for the reporting of qualitative research [ 46 ].

Be explicit about the learning for a future trial or a similar body of interventions or generic learning for trials.

Qualitative research in a feasibility study for a trial can identify useful learning for the full trial and for researchers undertaking similar trials or evaluating similar interventions. This makes it important to be explicit about that learning in any report or article. Reporting the impact of the qualitative research on the trial, and potential learning for future trials, in the abstract of any journal article can make it easier for other researchers to learn from the qualitative research findings [ 12 ]. Examples of the impact that qualitative research in feasibility studies can have on the full trial include changes in the information given to participants in the full trial [ 10 ], recruitment procedures [ 21 , 28 ], intervention content or delivery [ 12 , 22 , 24 ], trial design [ 23 ] or outcome measures to be used [ 47 ]. For example, in the ProtecT trial, initial expectations were that only a two-arm trial comparing radical treatments would be possible, but following the qualitative research, an active monitoring arm that was acceptable was developed and included in the main trial [ 21 ]. Learning from the qualitative research may be unexpected. For example, the aim of the qualitative research in one feasibility study was to explore the acceptability of the intervention, but in practice, it identified issues about the perceived benefits of the intervention which affected the future trial design [ 23 ]. See case study 3 for an example of qualitative research undertaken with a pilot trial where the learning for the full trial is explicitly reported in the published paper [ 47 ]

Once a feasibility study is complete, researchers must make the difficult decision of whether to progress to the full trial or publish why a full trial cannot be undertaken. There is guidance on how to make this decision, which encourages the systematic identification and appraisal of problems and potential solutions and improves the transparency of decision-making processes [ 48 ]. Too often, progression criteria are framed almost entirely in quantitative terms and it is unclear the extent to which qualitative data may or not play a direct role in informing the decision on whether to proceed to a full trial. For example, if researchers fall just short of a quantitative criterion, but have a sufficient qualitative understanding of why this happened and how to improve it, then it might be possible to proceed. Related to this, qualitative research may identify potential harms at the feasibility stage; the intervention could be modified to avoid these in the full trial, or a decision could be made not to proceed to a full trial even if progression criteria were met.

Conclusions

Exploring uncertainties before a full trial is underway can enable trialists to address problems or optimise the intervention or conduct of the trial. We present guidance that researchers, research funders and reviewers may wish to consider when assessing or undertaking qualitative research in feasibility studies. This guidance consists of 16 items framed around five research domains: research questions, data collection, analysis, teamwork and reporting. A strength of the guidance is that it is based on a combination of experiences from both published feasibility studies and researchers from eight universities in three countries. A limitation is that the guidance was not developed using consensus methods. The guidance is not meant as a straitjacket but as a way of helping researchers to reflect on their practice. A useful future exercise would be to develop worked examples of how research teams have used the guidance to plan and undertake their qualitative research within feasibility studies for trials. This would help to highlight the strengths and limitations of the guidance in different contexts. Using qualitative research with trials is still a developing area, and so, we present this guidance as a starting point for others to build on, as understanding of the importance of this vital stage of preparation for randomised controlled trials grows. Researchers may also wish to reflect on the utility of different qualitative methods and approaches within their studies to help other researchers make decisions about their future feasibility studies.

Abbreviations

Medical Research Council

National Institute for Health Research

United Kingdom

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Acknowledgements

The workshop was funded by the MRC North West and ConDuCT Hubs for Trial Methodology. This work was undertaken with the support of the MRC ConDuCT-II Hub (Collaboration and innovation for Difficult and Complex randomised controlled Trials In Invasive procedures—MR/K025643/1). We would like to thank attendees at the ConDuCT-II Hub workshop on feasibility studies held at the University of Bristol in October 2014 who discussed and commented on a presentation of an earlier version of this guidance. JLD is a NIHR Senior Investigator. SL is supported by funding from the South African Medical Research Council.

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Primary Care, Nursing Midwifery and Allied Health Professionals Research Unit, University of Stirling, Stirling, FK9 4LA, Scotland, UK

Pat Hoddinott

Global Health Unit, Norwegian Knowledge Centre for the Health Services, Oslo, Norway

Simon Lewin

Health Systems Research Unit, South African Medical Research Council, Cape Town, South Africa

Institute of Psychology, Health and Society, University of Liverpool, Waterhouse Building, Block B, Brownlow Street, Liverpool, L69 3GL, UK

Bridget Young

Department of Health Sciences, University of York, Seebohm Rowntree Building, Heslington, York, YO10 5DD, UK

Joy Adamson

Behavioural and Societal Sciences, Work, Health & Care, Schoemakerstraat 97 (Gebouw A), Delft, 2628 VK, Netherlands

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Authors’ contributions

AOC, JLD, KJT, BY and SL developed the idea and obtained the funding for the workshop. AOC, PH, KJT, BY, JA, YJFMJ, SL, GM and JLD attended the workshop where the core content of the guidance was developed. AOC wrote the first draft of the manuscript. AOC, PH and NM presented the guidance to the researchers engaged in this type of work to further develop the guidance. All authors commented on the drafts of the manuscript and read and approved the final manuscript.

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O’Cathain, A., Hoddinott, P., Lewin, S. et al. Maximising the impact of qualitative research in feasibility studies for randomised controlled trials: guidance for researchers. Pilot Feasibility Stud 1 , 32 (2015). https://doi.org/10.1186/s40814-015-0026-y

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Executive summary

Cards and gifts industry is always growing. We are always receiving gifts and we give these gifts in turn. In all special occasions, people must give and receive gifts.

Cards will always be in demand and as population grows around the world, the demand for the same grows. People give out cards and other gifts during birthdays, graduation ceremonies, for good luck wishes for those doing exams, during weddings and major holidays in the year.

That is why we invented special type of cards, which will serve the needs of the consumers. When people go to buy cards they find it hard to choose cards because of some few factors. Some do not have the background pictures they would want to have. Some may not have the words they may wish to tell their friends, relatives, and colleagues. This project is out to design cards according to the customer’s description.

The project will move so close to the customer that one would order for cards from their homes while chatting and watching television. Finished products will be available at customers’ nearest market center.

Introduction

Cards are always in demand, so it is a worthy business venture for anyone that pursues it. We have many holidays all around the world. Festive seasons are always recurring. In that view, we have decided to come up with a special type of card service. This product’s design has the aim of fitting the customer’s needs completely.

Product description

The cards will not be made until a customer requests. The customer is required to make a special request with specifications that are best suited to him or her. The specifications are the wordings, the general calligraphic design, and the background of the card. The background of the card refers to the paper texture and its general layout, for example a portrait, a landscape or the size.

The major categories are cards containing nature pictures, pictures of manmade features, and the third category is the picture supplied by the customer directly. Several subdivisions will be assigned according to the specific pictures and drawings that will be available on the company’s database.

The products are exclusively cards that are made to suit the customer’s requirements. The customer will be required to make an order of the cards he or she wants, and at the same time pay 75% of the whole price of the finished card. The 25% is then completed on collection day.

The orders either are made to our customer care representatives at various regions of the country or can be done online through website. The website is to set up alongside other physical amenities. The main printing center will be at our company headquarters. The company may decentralize printing centers to reduce transportation costs.

The customer will collect the printed card from the customer care representatives who are nearest to where they stay. This applies to those who apply online too, if they want a hard copy of the cards. It will not be necessary for those who will want a soft copy. The finished product will be sent directly to them via email.

If a customer chooses to make an order through the customer care station, they will have to go to a station that is within their reach. Here, they will find a display of the various cards’ categories.

They will the select one of their own choice and submit the wordings which will be limited according the design of the card they choose. Each category has a cord that identifies it. The customer then pays the deposit and is issued with an invoice for the payment. This too will act as an identifier during the day of collection.

For those customers who will choose to submit their orders online, the website will be YourCardChoice.com. If this will be given out to American Greeting Cooperation, they will include a sub page on their website by a choicest name, or even Your Card Choice (indeed.com, 2009). Customers will visit the particular site and access the facility. At the web page, we will have a form that requires the customer to fill in the following:

• E-mail address
• Phone number
• Center from which printed work is collected

The next page will ask the customer to make a specific choice. This is for the case of those choosing designs that are already in the database of the company. The choice made will finally submit the code number of the card category just as it would be when interacting with the customer care representatives. After making the choice, the customer moves to the next step where he or she is required to type their word choice.

This will then lead them to the payment stage. The money may be paid through wiring it electronically by the various payment methods. This step will now submit the order to the printing company, at the same time make an invoice of the payment, and send it to the customer’s e-mail address.

For the customers who have their own pictures, drawings or photographs, they will have a section of uploading them and making a simple description of how they want the calligraphic work done and then submitted. This step leads to the stage where the customer is requested to give the words she or he chooses and then payment and submission.

The major materials for this product are paper and ink. Others include linen sheets for ribbons, glue, laminating papers, vista foils, propylene, cellophane and graphic design software.

The equipment needed are printing machines, cutting machines, computers and different software depending on the departments of the card production company. The software is the common operating systems, either windows XP, Apple operating system. We also need business accounting software.

All these raw materials are locally available. All our stationery for printing will be bought from store in New York. These are stores like, Hayman & Sumner Stationers, Kate’s Paperie, Paper Access, Pearl Paint and Sam Flax (ny.com, (n.d)). The computers and printers will be ordered from dealers in the New York City because the pioneer project will be done in this state.

The testing of the viability of the business idea will be in the New York state. Representatives will go to different regions and station themselves there to receive the potential customers. This is after elaborate awareness campaign for the new product in the market. After the first three months, an evaluation will be done and its viability will be proved.

After the first three months, the whole idea should be able to move to several select states of America. Within the first one year, the business should have been able to move to the whole of USA.

Technology used

We will employ technology in printing the cards. This will be using things like laser printers, using modern graphic design programs for example, Adobe photo shop, Corel Draw, and Adobe Illustrator (tigerdirect.com, 2009). The other area technology will be employed is the making of orders online.

It has earlier been described and we need Information Technologists, and Computer Science specialist to come up with an appropriate website. If we will sell or license the product to American Greeting Cooperation, this will be included as a subpage in their main website (indeed, 2009).

Projected market atmosphere

If a person purchases goods, he or she is a customer. For those who put the goods into use are consumers. In gift production it is usually hard to tell if the customer is simply a customer, or also a consumer. One can decide to say that the process of giving out is the consumption. This qualifies the gift buyer to be the customer as well as a consumer. However, another person may decide to see form another point of view.

The person receiving the gift is the consumer. This should be as perceived by the person analyzing the event. This company targets the gift givers who may be consumers and the same time customers. Customers may not contribute a lot if there is no one to use the product. Nevertheless, for cards there will always be a market so long as people continue making friends, festive seasons and students continue to do their exams.

People send greetings, happy birthday wishes, exam good luck wishes, and good wishes for public holidays. The target is on all of these things. We are anticipating a high turn up of customers because the domain of wording is completely their choice. This is the unique thing about the new card to be produced.

This card service offered will be very beneficial to the customers. This is primarily because they chose their own words to present to their friends, relatives, and colleagues. For instance, the current card system does not allow the designer to include the name of the final recipient of the card artistically. This will give the designer of the card the opportunity to design everything professionally, including the name of the recipient.

Secondly, the card users will choose the pictures they want or even give their own for design work. This will make it more customer oriented, than designer oriented. These are the major benefits that the customer will have with this card.

In my pursuit of my hobby as a domestic card maker, I have found many people expressing the need to have designs that fit their desires. They have given me their own words, and some have been very grateful when I used pictures that are familiar to them. This has played a major role as a research finding of this project.

This service will definitely attract many people. This will make use of opportunities such as weddings, birthdays, good luck wishes in events such as exams, in holidays like Christmas, Easter, and major public holidays and love cards. Definitely, it will attract many people and so win many customers.

Competition

In essence, this invention is out to get customers who always buy the normal cards that we know. The system will address the need they have perfectly. Not all people are artists, and so they cannot make cards by themselves even if they have the resources. This system is unique, and it is a projection that it will compete favorably the current system.

As time goes by, the existing companies may try to venture into this market niche. We have set in place the mechanisms to counter their completion. First, we will establish how they are getting in to the market, and what variation they will bring to the card making service. The point here is to know them well (Millions 2009).

We are also making sure that the customer service that will be set up will be of high quality, and always there to serve the customers’ needs. We will work on the product perfectly according to the customers’ order. We will also listen to their views to establish concepts to help us keep improving on the product.

This business venture is a merger of two types of industries. It will be both a secondary and a tertiary industry. Our raw materials are the products of other industries such as paper industries. We do not also sell out our products to intermediaries. Our customers are also the consumers of our products. The category is based on what pebbleshow.co.uk presents (pebbleshow.co.uk, (n.d)).

Model of the business

The business will get its revenue mainly from selling of the products. The selling will be mainly retail, as we have said that we will be dealing with the consumer customer directly.

Sales and Marketing Strategy

We will have centers distributed over the state of New York where our customer representatives will be receiving orders as earlier described. At the same time, we will establish an order making software that will be in cooperated in our website. This will enable customers to order the product from their comfort zones.

Advertisements will be through media services such as the daily newspapers, radio, television and internet.

Our pricing is much dependant on our strategic goal, the demands that the market will present, and the internal costs that we will incur during production (gaebler.com, 2009). We will use the recurring expenditures as our internal costs determine the prices of each product.

It will not be general for all the cards because customers may choose different qualities of paper, which will result to different prices. The table below shows the initial projection of pricing on a standard A5 card.

Requirements for production or operation

The company will need a printing bureau for the cards. The pioneer one will be in the New York City, and will be serving the pioneer centers within the state. On expansion, we will have between one to three printing bureaus in each state. They will be serving distribution centers over the respective states. This distribution centers are also the order collection centers.

The printing bureau to be set up in New York belongs to the company. It will also own some few centers over the state. The company will lease rest of the distribution and order receiving centers.

Personnel and Management required

We will have a chief executive officer of the organization. He will oversee the activities of each department. The departments will be; development and research department, sale and marketing department, accounting department, customer service department and human resource department. Each will have a head that has relevant qualification. As the company grows, we will employ the matrix structure (Distelzweig, 2009).

Financial projections

Balance sheets for the first three financial years are as a shown below.

Breakeven analysis

A unit product is a combination of complete prints from paper of grade A, B, C, and D. The total cost of buying the unit is 0.37 dollars.

Where BE is breakeven point, FC is the fixed costs and GM is gross margin.

GM = GP/S, Where GP is the Gross profit and S is the sales.

GM = 1217950/1372350 = 0.887492

BE = 240000/0.887492 = $270424.9

For the company to reach the breakeven point it must sale 270424.9/0.37 units of prints. These are equal to 730878 units of prints. These imply that we have 730878 prints each of grade A, B, C and D.

Cost Benefit Analysis

It is necessary that we do a cost benefit analysis to determine if the venture will be worth taking. This technique is necessary to determine whether to move on with the venture or not (.mindtools.com, (n.d)).

• Land: $300 000
• Building: $600 000
• Furniture: $10 000
• Machinery: $400 000
• Vehicles: $100 000
• Total costs: $1 410 000

Considering that this card production system seeks to know what the customer needs, the following factors will improve on the sales. This is as shown below:

• Efficiency and consistency of customer follow-up: estimated returns: $350,000 / year
• Better customer retention and service: estimated returns: $450,000 / year
• Better precision of customer information: estimated returns: $470,000 / year
• Easier to administer sales: estimated returns: $330,000 / year

Total benefits.

Costs benefit analysis.

1 600 000 – 1 410 000 = 390 000

Payback time = total cost/ total benefits.

$1 410 000/$1 600 000 = 0.88125

That is approximately 11 months.

Considering environmental issue

The company will not have any problem with environment since not all the production process will involve production of any bi product. If there are any, they are papers and polythene ware that will be recycled. Before setting up a recycling facility, these products will be sold off to the existing recycling factories.

Recommendations

When the business will start, many investors may card makers may get interested with the idea. This will cause a surging competition. It is then wise to train good customer care representatives who will know how to deal with the customers with great balance.

A tem should also be set up to continuously do research and get findings that will help improve the technical team. That is the design team. The managerial team needs continuous training and retraining. This is to enable them to continue managing the company well to make sure that everything is done cohesively.

Distelzweig, H. (2009). Organizational Structure . Web.

Indeed. American Greetings . Web.

Millions, D. (2007). Dealing with Competition . Web.

Mindtools. Cost/benefit Analysis . Web.

Ny. Stationery stores in New York . Web.

Pebbleshow.co.uk. Types of Industries . Web.

Resource For enterpreneurs. Pricing . Web.

Tigerdirect. Software graphics . Web.

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Feasibility Study (Veggie Bread)

This is a Feasibility Study conducted by a group of students "The Incorporators" from Capitol University's Bachelor of Science In Business Administration major in Marketing Management and Human resource Management. Note: This document is not available to download, sorry for the inconvenience. Read less

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• 1. Capitol University Corrales - Osmeña Ext., Cagayan de Oro City In Partial Fulfillment of the Subject Feasibility Study Submitted by: Brenely T. Solis Junryl L. Ybañez Anjhie Grace M. Valle Bryan Agustin B. Oculam Submitted to: Dr. Aldrich S. Palarca
• 2. ACKNOWLEDGEMENT The researcher would indebted to so people who have suggested and shared their ideas to the conceptualization of this research. This Feasibility Study has been made possible by the guidance, supervision, cooperation and participation of the following: To our Almighty God who always look up and secure the safety of the proponents in doing this project To our parents for the financial assistance and who always guide and give words of wisdom to inspire us in doing our best in preparing the Feasibility Study. To our beloved intelligent Professor, Aldrich S. Palarca, who has greatly shared his knowledge with us with patience and diligence in helping us meet the necessary works for the completion of our Feasibility study. Sincerest gratitude is extended also to our respondents, the Business Administration Students of Capitol University for the time they spent in the interview. Together, we sincerely acknowledge and give thanks the person/s mentioned above who have brought the success of doing this Feasibility Study. We are very grateful for this wonderful accomplishment.
• 3. ACKNOWLEDGEMENT The researcher would indebted to so people who have suggested and shared their ideas to the conceptualization of this research. This Feasibility Study has been made possible by the guidance, supervision, cooperation and participation of the following: To our Almighty God who always look up and secure the safety of the proponents in doing this project To our parents for the financial assistance and who always guide and give words of wisdom to inspire us in doing our best in preparing the Feasibility Study. To our beloved intelligent Professor, Aldrich S. Palarca, who has greatly shared his knowledge with us with patience and diligence in helping us meet the necessary works for the completion of our Feasibility study. Sincerest gratitude is extended also to our respondents, the Business Administration Students of Capitol University for the time they spent in the interview. Together, we sincerely acknowledge and give thanks the person/s mentioned above who have brought the success of doing this Feasibility Study. We are very grateful for this wonderful accomplishment.
• 4. Partners combine its expertise in running this business with the help of our parents and guardians who hands out their support financially to make this project successful. The management is not only looking forward to self-benefit but also with the customers and community. Proving good quality products that ensures the safety and satisfaction of the customers.
• 5. Chapter I Introduction A healthier variety of breads are what we are in cognizance. For this brand perception that we formalize we would like to linger the interest of the buyers and also the consumer with our version of Veggie Breads. We would like introduce varieties of flavors that consumers that would not normally taste with the following flavors that we would like to propose: malunngay (horseradish), ampalaya (bitter gourd), talong (eggplant,) kamatis (tomatoes) etc. Nowadays people would choose an artificially made food product that has a less healthy nutritional content over the conventional foods that is said to be “good for our health” that is available in the market. Promoting a healthy and convenient way of eating by introducing varieties of Veggie Breads to the public consumers would also benefit not just the consumers with the its health nutrition content it have but also helps the Filipino farming industries in the country as well.
• 6. Background of the Study We make this product proposal for the purpose that we want to serve our valued customers in a new product dishes that we give them a healthy food that will enjoy not only for adults but also for the young ones, we add especial ingredients for our product such as malungay, We would like to introduce varieties of flavors that consumers that would not normally taste of the bread. Nowadays people would choose an artificially made food product that has a less healthy nutritional content over the conventional foods that is said to be “good for our health lifestyle” that is available in the market. Promoting a healthy and convenient way of eating by introducing varieties of Veggie Breads to the public consumers would also benefit not just the consumers with the its health nutrition content it have but also helps the Filipino farming industries in the country as well they will encourage.
• 7. Statement of the Problem This feasibility study is intended to evaluate the feasibility of selling “bread” with vegetable flavored. Specifically, it aims to evaluate and analyze the following areas:  The Technical aspect of the study  Product Description  Product Process  Equipment/Materials  Plant Location  Plant Lay-out  The Marketing aspect of the study  General Business Condition  Competitive Condition  Target Market  Demand  Product  Pricing Strategy  Promotion  Packaging
• 8.  The Financing aspect of the study  Capitalization  Sources of Funds  Total Sales  Total expenses  Income Statement (5 years projected)  Balance Sheet (5 years projected)  Cash Flow Statement (5 years projected)  Return on Investment  Ratio Analysis  The Management aspect of the study  Form of Ownership  Structure  Job Analysis  Company Policies  The Socio-economic aspect of the study  Contribution to the government  Contribution to the society
• 9. Conceptual Framework The technical study of the project comprises product description, product process, equipment and materials, plant location and plant layout. In this area, it discusses on how the product “Veggie Bread” is produce, what ingredients and equipment’s are needed, and where will the researchers going to put the said business and its layout. The marketing study covers the general business condition, competitive condition, target market, demand, supply, product, pricing strategy, promotion, and packaging. This area talks about the structured questionnaire floated to the respondents and the result determines the demand and supply and for the researchers to know whether their product will penetrate the target market. The financial study shows the capitalization, sources of funds, total sales, total expenses, income statement, balance sheet, cash flow statement, return on investment, and ratio analysis. This area discusses if the business is profitable or not. In addition, it serves as a guide for the researchers to know if the transactions within 3 years are increasing.
• 10. The management study shows the form of ownership, the structure of the business, job analysis and company policies that the researchers had formulated. The socio-economic study shows the contribution of the study to the government and to the society. This area proves that the business existed not only for profit purposes, but also for the improvement of the welfare of the people.
• 11. Framework of the Study TECHNICAL MARKETING FINANCING MANAGEMENT SOCIOECONOMIC Product Description General Business Condition Capitalization Form of Ownership Contribution to the Government Product Process Competitive Condition Sources of Funds Structure Contribution to the Society Equipment/ Materials Demand Total Sales Job Analysis Plant Location Product Total Expenses Company Policies Plant Lay-out Pricing Strategy Income Statement Promotion Balance Sheet Packaging Cash Flow Statement Return on investment Ratio Analysis Table 1.1
• 12. Scope and Limitation of the Study This study of the “Veggie bread” business is restricted to Cagayan de Oro city and will be based on management, marketing, technical, socioeconomic, and financial aspect of business. Students will be covered as part of the respondents. The product will be disseminated through direct selling and orders are also accepted from the customer within in Cagayan de Oro city from those who are willing to purchase our product. Significance of the study The study gives the consumer a product which is affordable but with the same product quality with those sold at an expensive price. This section will provide a brief description on the various significances of the study given. To the customers- the researchers believed that the customers will benefit because the study was made for them and the researcher had priced the product at a reasonable price. They will benefit by buying the product and they will see that it can be used for a long time. To the researchers- in doing the study, the researchers have acquired new skills and knowledge that they can use in their profession .This paper can enlighten their thinking with regards to the reality of life especially as we walk towards the path of the business world.
• 13. To the students- The proposed study will help you speeding up metabolism, providing an immediate source of energy with fewer calories than other fats. Reduces Sweet Cravings and improves insulin secretion and utilization of blood glucose. To the teachers- The proposed study will help your health esp. those who are elderly people these products provide many benefits, it protects against osteoporosis, Helps relieve symptoms associated with gallbladder disease. To the farmers- The proposed study will help the farmers to engage in producing more vegetables, we are not only selling but also helping the farmers to promote their product. The study gives the consumer a product which is affordable but with health benefits. This will also give the farmers the opportunity to engage in a business that will serve as a stepping stone to economic growth. Furthermore, this feasibility study will also serve as a guide and a stepping stone to economic growth specially the farmers to enhance their farming as the main ingredients of this product and to those people who would want to put up their own business.
• 14. Definition of Terms For a better comprehension on this feasibility study, the following definitions of terms are provided:  Balance Sheet- one of the financial statements that show the total assets, total liabilities and equity of a business  Break-even Point - refers to an indicator of the volume where profits equal zero, which means no gain, no loss  Capitalization - the monetary contribution of each partner in starting up a business  Demand- refers to the quantity of goods does a buyer is willing to buy at a given price  Form of Ownership - refers to a type of business form of organization  Income Statement - type of financial statement that shows the annual sales of the business with its expenses incurred for the whole year  Management - the overall organizational structure of a certain business  Marketing Strategy - a series of marketing activities that an organization do to acquire customers  Structured Questionnaire - a written instrument used in gathering information through survey.
• 15.  Bread - A staple food made from flour or meal mixed with other dry and liquid ingredients, usually combined with a leavening agent, and kneaded, shaped into loaves, and baked.  Malunggay - Moringa Oleifera (synonym: Moringa pterygo sperma) is the most widely cultivated species of the genus Moringa, which is the only genus in the family Moringaceae, is “the most nutritious plant in the world.” It is rich in vitamins A and C and iron.  Vegetables - A plant or part of a plant used as food, typically as accompaniment to meat or fish, such as a cabbage, potato, carrot, or bean.  Nutrition - The process of providing or obtaining the food necessary for health and growth.
• 16. Chapter II METHODOLOGY This chapter describes and discusses how the researchers will gather the necessary data and information that will be used in the entire study. It describes who will be the respondents and focus of the research. This also shows the procedure of source of data and methods of collecting data; these chapters also discuss the type of research, research design, and the research locale where the study will be conducted and description of our product and the outlook of the industry and the size of the industry, target market, market segmentation and presentation, in marketing and sales activities, detailed of our product and service description that we will going to apply to our business and the competition in the market. Research Design The researchers used the descriptive design and applied using survey questionnaires and key informant interview. The survey was conducted by providing structured questionnaires to a number of identified respondents from the collages inside Capitol University. The participants who were asked to evaluate the bread types/ flavors during the survey were randomly selected from identified respondents. The survey was aided using an interview guide questioners. Moreover, interviews were conducted with existing business operators who sell breads which will server us key information on how will we the researchers improve more our product offerings to our target consumers.
• 17. Research Locale The researchers floated the survey questionnaires around specific department of Capitol University. The number of students that are being selected here are from different department and are brief discussion on what is the research about. Therefore in this area the researchers planned to have their distribution of their products through consignment. Figure 1.1
• 18. Respondents Due to a large number of people that may become the possible costumers, the researchers got at least 250 respondents from the identified research locale. Respondents were identified immediately after they have shown interest in buying vegetable bread (Veggie Bread). Colleges No. of Respondents Business Administration 25 Nursing 25 Education 25 Maritime Engineering 25 Computer Science 25 Midwifery 25 Engineering 25 Criminology 25 A.B. English 25 Accounting Technology 25 TOTAL: 250 Table 2.1 Sources and Methods of Collecting Data The researchers have gathered data through the primary data. The primary data were gathered by giving away a structured questionnaire to selected students in different departments of Capitol University.
• 19. Chapter III Technical Study Figure 1.2 This study discusses about the process of production and the activities of the business. It states also the machineries and equipment used in production and other aspect regarding bringing the raw material into finished products ready for trade. Plant layout, size and structures are all presented for the purpose of identifying the business operation. Also product specifications the product processes using the flow chart. The list of machinery, tools and equipment are enumerated with their corresponding cost, raw materials and plant fund sources are also cited.
• 20. General Business Condition All bakery products and ingredients thereof shall be stored, handled, transported and kept so as to protect them from spoilage, contamination, disease and unwholesomeness. Boxes and other permanent receptacle or containers for the storing, receiving or handling of bakery products shall be so placed and constructed as to be beyond the reach of contamination from streets, alleys and sidewalks and from animals and shall be kept clean and sanitary by the bakery. There shall not be used in bakery products or in the ingredients thereof any ingredient or material, including water, which is spoiled or contaminated or which may render the product unwholesome, unfit for food or injurious to health. Every room used for the manufacture of flour or meal food products shall have the furniture and utensils therein so arranged that they and the floor may at all times be kept clean and in good sanitary condition. Every bakery shall be constructed, drained, lighted, ventilated and maintained in a clean and sanitary condition, and screened against flies, shall have plumbing and drainage facilities, together with suitable wash basins, wash sinks and toilets or water closets, which shall be kept in a clean and sanitary condition. The said toilets or water closets shall be in rooms having no direct connection to any room in which bakery products or ingredients are prepared, stored, handled or displayed. In connection with every bakery, suitable room shall be provided for the changing and hanging of the wearing apparel of the workers or employees, which
• 21. shall be separate and apart from the work, storage and sales rooms, and shall be kept in a clean and sanitary condition. No person shall sit or lounge or be permitted to sit, lie or lounge upon any of the tables, shelves, boxes or other equipment or accessories used in connection with the production, preparation, packing, storing, display or sale of bakery products in a bakery. No live animal or birds shall be kept in any building or part thereof used as a bakery for such production, preparation, packing, storing display or sale of bakery products. Before beginning the work or preparing, mixing or handling of any ingredients used in the production of bakery products, every person engaged in such work shall wash the hands and arms, and after using toilets or water closets, every person therein engaged shall wash the hands and arms thoroughly and then rinse in clean water, and for this purpose the owner or operator of the bakery shall provide sufficient facilities and post notes to this effect. No owner or operator of a bakery shall require or permit any person affected with any contagious, infectious or other disease or physical ailment which may render such employment detrimental to the public health, nor any person who refuses to submit to an examination, to work therein. Employees shall be prohibited from smoking while preparing and baking veggie bread products.
• 22. Production Process Veggie Bread Procedure INGREDIENTS: 4 cups (500g) first class Flour 3 tsp. instant dried yeast 1/2 cup sugar 3/4 tsp. salt 5 tbsp. softened butter 1 tbsp. oil 1 egg 1/2 cups water 1/4 cup evaporated milk 1/2 cup fresh milk Powdered malunggay Figure 1.4
• 23. Step-by-step Procedure Combine flour, sugar, salt, powdered Malunggay and yeast. Lightly mix the dry ingredients with your dough hook and then add egg, butter and oil. Put your mixer into Speed 1 and let the egg, butter and oil mix with the dry ingredients. Place your fresh milk, evaporated milk and water in a microwavable container and heat it up for 45 seconds first, before pouring it to your Vegie bread. Once the veggie bread mix becomes overall wet, increase the Speed to 2 and kneads for 15 minutes in the mixer. Prepare a stainless steel large mixing bowl and wipe the inside with an oiled kitchen paper towel. Once the kneading is done, turn off the mixer and remove the dough hook and bowl out of the mixer stand. Lightly oil your hands and remove the dough. Tuck in the edges of the dough underneath to create a smooth top surface before placing it in your oiled mixing bowl. Cover the bowl with cling wrap. If the weather is hot, just leave the bowl on your kitchen bench but if it’s cold pour some hot boiling water in a container and place it inside your oven (turned off) on the bottom level. Position your covered Veggie bread dough on a rack above the hot water container, close the door oven and leave it there for 1 hour (same amount of time if it’s on the kitchen bench), until it double in size. Place two handful flour in the corners in the cleaned kitchen bench. Lightly flour your kneading area with a bit of your flour. Take out the risen Veggie
• 24. bread dough out of the mixing bowl and knead/punch down the air out of it. If it gets too sticky, lightly flour your hands and pat the overall exterior of the dough. Roll the dough till it becomes elongated. Using a 1/3 measuring cup, scoop some of the dough and level it up with your inner palm and with a sweeping motion (using your palm) cuts the dough on the edges of the measuring cup. Cup each Veggie Bread dough portions with your right hand and roll it into a ball in an anti-clockwise motion, if it gets too sticky, dust your hands with some flour. Dip each rolled Veggie Bread dough into the bread crumbs. Before placing it in your baking tray, make the dough slightly oval shaped. Distance each dough portion about 2-2.5cm away from each other. Cover the baking tray with cling wrap loosely. Let it rise for another hour (hot weather – leave it on the kitchen bench, cold weather – inside the oven with hot water underneath), it will double its size again. Preheat your oven 200C and bake your tray of Veggie Bread on the top second rack for 10 - 15 minutes. Once cooked slide the Veggie Bread rolls into a wire cooling rack immediately. MAKES: 15 -16 Veggie Bread Rolls.
• 25. Workflow of the Process 1 2 3 4 5 6 7 8 9 •Create a veggie bread concept •Gather the indredients needed •Combine the dough mixture for the bread •Add the the vegetable bits in the dough mixture •Bake the dough mixture •Wait till its done •Prepare for the finishing touches •When done baking, then add the finishing touches •Display in the shelf. Table 3.1
• 26. Product Description The Veggie bread is made by baking malunggay “horseradish plant” bits in the dough of flour and water added with flavors. The added malunggay bits in the dough these will serve as invaluable nutrients added to our breads and have a cheap price and are easy to bargain in the market. The product will come in four flavors and will be sold on differentiated price. Below are the specific descriptions of the four proposed bread flavors.  Peanut Bread (₱ 15.00) Peanut butter flavored bread with a small amount of chopped roasted peanuts offers delightfully surprising crunch and with a sliced malunggay minced mixed in the dough to put a healthy touch to it. Figure 2.1
• 27.  Ensaymada (₱ 15.00) Sweet bread is one large snail-like coil dusted in sugar with a sliced malunggay minced mixed in the dough to enhance a healthy touch to it. Figure 2.2  German Bread (₱ 20.00) A dense, whole grain loaf with sesame seeds for a dense, moist loaf and with a sliced malunggay minced mixed in the dough to add a healthy trace to it. Figure 2.3  Croissant (₱ 20.00) A buttery flaky pastry named for its wellknown crescent shape. Croissants are made of layered yeast-leavened dough with a sliced malunggay minced mixed in the dough to enhance a healthy touch to it. Figure 2.4
• 28. Materials and Equipment  Dough Mixers A dough mixer is an appliance used for household or industrial purposes. It is used for kneading large quantities of dough. It is electrical, having timers and various controls to suit the user's needs. Figure 3.1  Oven An oven is a thermally insulated chamber used for the heating, baking or drying of a substance and most commonly used for cooking. Kilns and furnaces are special-purpose ovens, used Figure 3.2 in pottery respectively. and metalworking,
• 29.  Roller The dough roller has three rolls arranged in a vertical stack and too make a sheet of rounded dough, gently hands pat a dough ball (or chunk of dough) to flatten it. Figure 3.3  Bread Slicer A bread slicer slices larger amounts of bread in the shortest time possible. A slicing machine will make this job effortless, not to mention the fact that an electric slicing machine saves you a lot of time. Figure 3.4
• 30. Plant Location The plant location shall be located at Don Apolinar Velez Street fronting St. Ignatius Birthing Home. Below is the location of the proposed business. Figure 4.1
• 31. Plant Layout The plant layout is tactically designed to support the smooth process of the proposed business (Veggie bread). The display area is a place where all finished products that are ready to sell are being displayed. There would be a business office area which will cater to business related transactions. The bakery/store will be the place for the customer to purchase the finished products of veggie breads. The pantry will be the area where the veggie bread will be made by the baker. Perspective View Floor Plan Figure 5.1 Figure 5.2
• 32. Plant Lay-out  Bakery/Store This is a proposed perspective view of the Veggie Bread bakery. This is where the Veggie Bread products will be displayed and with a relaxing design which promotes a green and healthy lifestyle that our product endures to our customers. Figure 5.3 Figure 5.4
• 33.  Office This is a proposed perspective view design of where the manager of the Veggie Bread will be in office. Figure 5.5  Pantry/Baking Area This is a proposed perspective view design of where the Veggie Bread products will be produced and be done. Figure 5.6
• 34. Chapter IV MARKETING STUDY This chapter will help to know the marketing aspect of the business. The marketing aspects will cover the following: General Business Condition, Tabulation of Results, Target Market, Demand, Product, Promotion, Marketing strategy, Pricing Strategy, Promotion and Packaging. For the business to prosper, it should be given time and effort. The proponent of this business must have the desired creativity so as to be able to provide quality service to its customers. The fulfillment of the needs and wants of its customers or target market must be the key objective of the recommended business. In every project, feasibility marketing aspect is well-thought-out the most important since it requires inconspicuous analysis of the business total demand and supply.
• 35. Description and outlook of the industry Malunggay as one of the leading crops in the country that is a nonseasonal vegetable and easy to grow and has an abundant supply in the market her in the city. Farmers in this kind of crop are less motivated and are living in the deepest ground of poverty for their crops are purchased for a penny priced dealings, for wholesaler primarily prefer to buy other vegetables commonly sold in the market. Therefore Malunggay is at the bottom of their list. As experienced in the recent years, demand for bread industry is continually increasing due factors which include convenience affordability and changing lifestyle. The trend of health and wellness shift the demand to go upward because a lot of people choose to go to healthy lifestyle. In our survey conducted among the five factors that affect the purchasing choice of our respondents nutritional value ranks the highest factor they consider in purchasing bake foods. Our groups would want to introduce “Veggie bread” in the market because our group envisioned putting up stores highlighting Malonggay in every product for we can create pies, cakes and other delicacies especially various types of bread with the Malunggay making its industry much broader and in turn will array as one of the most excellent food products.
• 36. Size of the industry According to the 2010 Census of Population in the Philippines, the Cagayan de Oro City has an estimated population of 602, This was based on the census conducted last 2010 this data gives us the opportunity to have a look on how large is the market in an scale of the city. Flour-based foods have played an increasingly dominant role in the Philippine diet in recent years. The industry's total rated annual production capacity is 2.2 million tones. The largest flour end users are bakeries, followed by noodle manufacturers and then fast food chains. More than 10,000 bakeries nationwide constitute the largest single institutional user of wheat flour, accounting for approximately 50% to 60% of total domestic flour use. Target Market Veggie Bread wants to distress the purchasing influence of most of the Filipinos as it is offering an affordable price and addressing health and wellness trends in our product offerings. At all ages is the target market of Veggie Bread, professional or not, male or female and people of different walk of life. One of our target markets is the parents because they can influence the children to consume and choose Veggie Bread as a tasty snack treat and most especially the people within a healthy lifestyle. This confirms a big scope of market veggie bread will cater.
• 37. Market Segmentation Veggie bread considers all types of people in all ages what places they came from and no matter what their gender and religion either who have high or low income can be our target market that can be one of our potential buyers for the benefits of our potential customers we extend our time and effort to differentiate and understand their needs, wants and their preferences in order to meet the satisfaction of our innovated product. Demand Study 1. Do you eat vegetable? Respondents’ Answer 250 200 Yes 194 150 No 56 100 50 0 Yes No The results show that overs 194 of the respondents said that they eat vegetables while 56 of the respondents said that they don’t eat vegetables this result implies that we there is a big fraction that our product will be viable to the target consumers who have craved for vegetables.
• 38. 2. How do you often eat vegetables? Respondents’ Answer 120 100 80 60 40 20 0 Everyday 96 Occasionally 65 Often 51 Very Often 38 The results show that 96 of the respondents said that they eat vegetable every day and 65 said they eat occasionally and 51 said that they often eat and only 38 said that they eat vegetables very often. The results imply that Veggie Bread has the chance of being viable to the market due to the respondents’ response to how often they eat vegetable. 3. Do you like to eat bread? Respondents’ Answer 250 200 Yes 219 150 No 31 100 50 0 Yes No The results show that there are219 of the respondents’ said that they like to eat bread while only 31 of the respondents said that they don’t like to eat bread. The result implies that our product has a big chance that to be patronized by the consumers based on the resulting findings.
• 39. 4. How often do you eat bread? Respondents’ Answer Everyday 125 Occasionally 63 Often 37 Very often 25 140 120 100 80 60 40 20 0 The results show that there are 125 of respondents’ eat bread everyday and 63 occasionally eat bread while 37 often eat and only 25 of the respondents eat bread. By this result we can have some adjustments about the production of our Veggie Bread products. 5. How do you find Veggie Bread as an alternative for our conventional breads? Very Satisfying Satisfying Respondents’ Answer Very Satisfying 150 Satisfying 48 Average 52 Average The results show that 150 of the respondents finds Veggie Bread as an alternative for conventional breads as very satisfying and 48 said they are satisfied and only 52 average. By these results we are confident that our products will be patronized by the consumers.
• 40. 6. How much are you willing to pay for the Veggie Bread? Respondents’ Answer PHP 15-20 211 PHP 21-25 39 Php 15-20 Php 21-25 The results show that 211 of the respondents said that they are willing to pay Php15-20 for a Veggie Bread while only 39 of the respondents. These results gave us an idea on what will be the pricing for our Veggie Bread products. 7. What variety of veggie bread is your favorite? Peanut Bread German Bread Croissant Respondents’ Answer Peanut Bread 67 German Bread 69 Croissant 58 Ensaymada 56 Ensaymada The results show that there are 67 of respondents liked the Peanut bread and 69 liked the German bread while there are 58 of respondents liked the Croissant and 56 of the respondents liked the Ensaymada Veggie Bread. These results gave us an idea on how much Veggie bread products will be produced
• 41. 8. Rate the following items: Respondents’ Answer Category Very Satisfied Satisfied Average Taste 173 36 41 Packaging 127 67 61 Cleanliness 159 55 36 Price 147 67 36 The results gave us the perspective on how will we handle the following factors that will affect the product operation based on the respondents responses. Marketing and sales activities Nutritiously bake breads. Who would have thought that we can have it in hand? Veggie bread is placed in a box. The box serves as its packaging. By words, it’s simple and plain but beholds the taste and nourishment it gives to the consumers. The study will be implemented in 6 months’ time. (Second semester of school year 2013-2014).
• 42. The following activities should be followed.  1st week = Distribution of flyers and leaflets.  Advertisement via Facebook and other social media.  Opening promo, but worth of ₱ 50.00 of Veggie Bread products and get 1 bread of your choice free to the first 20 customers only.  4th week = Buy 3 boxes get 3 bread promo.  Buy 3 boxes get 3 bread free of choice (whole week from 2:30 4:00pm only)  3rd month = Juice day promo.  Buy 1 box get juice free. Limited supply of juice last only. Available during MWF only.  4th month = Buy 3 boxes get a 5% off promo.  Buy 3 boxes a get a chance to have a 5% off promo. Available until 3rd week of the 4th month only. Limited until supply last.  5th month = Freebie promo.  Buy 2 boxes of Veggie Bread and get a freebie promo. Freebies available until supply last.
• 43.  6th month= Late night coffee promo.  Buy 1 box from 10:00 - 12:00pmand get extra coffee free. Available until closing time. The above mentioned marketing and sales activities should be followed during the implementation time. Any adjustment, if necessary can be interested. Detailed Product Veggie bread is dough based product that is rich of minerals and nutrients that will give the consumer a healthy way of eating the conventional breads that we often buy. We Filipinos are known as a fan of eating bread especially in the morning where we have our orphan “breakfast”. Our version of breads has a twist and with the grace of malunggay to make it healthier and decent for our body. Veggie Bread has a variety of flavors that consumers can choose from, we have Peanut Bread, Ensaymada, Croissant and German Bread. Competition Businesses exist in a competitive environment. Bakeries are in fierce competition with each other to provide the best possible value for money high quality and appetizing breads, and to offer the most suitable range of products for their customers. Competition typical breads are commonly offered by bakeshops. They are really noteworthy about their profit and customer satisfaction, but not into making the community health wise. The fact that the value of its bread is affordable yet it consist only a few of nutrients that our body need is somewhat deceiving ourselves.
• 44. On the other hand, veggies are obliging in our body in handling out nutrients that keep us going. Some consumers today are aware of their health but some are not specially kids nowadays that most of them are not into eating vegetables. And as concerned individuals, we offer breads that are benevolent in use and consist of dietary from the vegetables that store our daily nutritional needs the Veggie bread. Within a market businesses are faced by direct competitors. These are firms that produce the same or very similar goods. With regards to our consideration about our competition, we consider small bakeries because it will threat in our business. However, most products are differentiated in some way. The Product Veggie Bread is from the word veggie means vegetables which process into bread. We all need protein and the full complement of vitamins and minerals to keep us healthy. Meat eaters find this easier but may also open themselves up to health issues related to eating too much animal protein. It can be really difficult for vegetarians and vegans to get enough protein and enough vitamins and minerals especially the full complement of the B vitamins and the minerals that are suspended in animal fats. A good part of the answer really is in bread. These products bring you nature at its best – delicious and nourishing breads made with a variety of 100% whole grains. New Veggie Breads add a fresh garden taste and the nutrition of one full serving of vegetables in every slice.
• 45. Packaging Packaging plays in Veggie Bread are an important role as a medium in the marketing mix, in promotional campaigns, as a pricing criterion, in defining the character of new products, as a setter of trends and as an instrument to create brand identity and shelf impact in all product groups.  The Veggie Box A take home box that is where you put the veggie bread product. .A eco-friendly packaging and promotes a greener nation. Figure 6.1  The Veggie Bag Take home bags after purchase of the Veggie Bread products will be placed in a paper bag. Promoting a greener lifestyle and preventing environmental hazards that can destroy the environment. Figure 6.2
• 46. Marketing Strategy The first strategy is market penetrate. Veggie bread is committed to improving the customer experience in ways they believe few in the industry have done. This business plan to execute a broader marketing strategy, not simply to build name recognition and awareness but also to build deeper relationships with the target customers whom they believe will help promote the brand. To reach the target customer group, we use a mix of the following marketing methods: radio, billboards, social networking, television and in-store sampling. Expect to continue to increase media impressions as they strive to build deeper relationships with their customers. We believe marketing represents an opportunity to create additional competitive advantage and brand awareness. The next strategy is market development. The expansion into Filipino has made them subject to Filipino economic conditions, particularly currency exchange rate fluctuations and political factors, either of which could have an adverse effect on the financial condition and results of operations. If veggie bread, expands into other foreign markets, will be subject to other foreign economic conditions and political factors including taxation.
• 47. Price The pricing of each bread design is based from the survey questionnaire gathered by the researchers. The researchers floated survey questionnaires with an option of prices. Then the costing of products immediately adjusted based from its sole so that it would compensate the pricing from the survey questionnaire. Each bread cost from 15.00 to 20.00 pesos based on the research result that we conduct, but it will adjust based on the economic growth of the country or the price of the minor and major ingredients of the veggie bread and for the transportation and etc. that will affect the price of our product. The prices of the Veggie Bread products will be dependent on how the market price of the main ingredients is. Any change of the price of the veggie bread products will be taken into consideration to the factor that measures the consumers' capability to purchase the product.
• 48. Chapter V FINANCIAL STUDY This chapter discusses the financial aspects of the study, in order for a business plan to understand it needs money to start. To determine whether the future industry will remain profitable through the existence of competitors and unfavorable economic condition, the researchers have to project a five year financial statement. This chapter includes the source of funds, balance sheet, income statement, cost of goods sold and cost of sales. Financial Assumptions 1. Selling Price of Veggie Bread are the following: Veggie Bread (Price List) Variety Peanut bread Price ₱ 15.00 Ensaymada 15.00 German bread 20.00 Croissant 20.00 2. Sales demand increases 10% per year 3. Raw Materials increases 5% per year 4. Depreciation expense is computed in a straight line basis with an estimated useful life of 3 years 5. 50% of net income will be distributed after 3 years
• 49. Initial Capital Requirements The partners agreed to contribute an equal sharing of capital in amount of ₱ 20,000.00 each. Initial Capital Requirements Partners Ratio Invested Amount Brenely T. Solis 25% ₱ 20,000.00 Junryl L. Ybanez 25% 20,000.00 Anjhie Grace M. Valle 25% 20,000.00 Bryan Augustine B. Oculam 25% 20,000.00 TOTAL 100% ₱ 80,000.00 Table 4.1
• 50. Cost and Expense Schedule Schedule 1: Purchased of Raw Materials Item Quantity per production Unit Price Amount Monthly Yearly 4 ¾ sack 57 sack ₱ 840.00 ₱ 47,880.00 White sugar ½ sack 6 sack 350.00 2,100.00 Yeast 1 ½ kilo 18 kilos 350.00 6,300.00 Salt 360 grams 4320 grams 1.00 4,320.00 Butter 360 grams 4320 grams 5.00 21,600.00 Oil 150 grams 1800 grams 2.14 3,852.00 450 pcs. 5400 pcs. 67.50 364,500.00 90 grams 1080 grams 10.00 10,800.00 300 bunches 3600 bunches 2.00 7,200.00 Peanut Butter 60 jars 720 jars 40.00 28,800.00 Choco Flavor 600 packs 7200 packs 6.25 45,000.00 4 cans 48 cans 32.00 1,536.00 15 kilos 180 kilos 21.00 3,780.00 ₱ 1,726.89 ₱ 468,552.00 Flour Egg Powdered Milk Mallunggay Condense Milk Monggo Total Table 4.2
• 51. Schedule 2: Rent Expense Monthly Annual Cost ₱ 4,000.00 ₱ 48,000.00 Table 4.3 Schedule 3: Salaries and Wages Position Cost Per Month Cost Per Annual ₱ 4,000.00 ₱ 48,000.00 Cashier 2,000.00 24,000.00 Waitress 1,500.00 18,000.00 Baker 3,500.00 42,000.00 ₱ 11,000.00 ₱ 132,000.00 Manager Total Table 4.4 Schedule 4: Office Supplies Item Quantity Price Annual cost 2 ₱ 80.00 ₱ 160.00 Official Receipt 30 20.00 600.00 Ball pen 12 5.50 66.00 Bond paper 2 50.00 100.00 Puncher 1 65.00 65.00 Stapler 2 32.00 64.00 10 7.00 70.00 1 30.00 30.00 Record Book Staple wire Fastener ₱ 1,155.00 Total Table 4.5
• 52. Schedule 5: Packaging Item Quantity Price Monthly Annual Cost Paper Bag 35 ₱ 60.00 ₱ 2,100.00 ₱ 25,200.00 Box 30 5.00 150.00 1,800.00 ₱ 27,000.00 Total Table 4.6 Schedule 6: Transportation Cost Item Cost per month Annual Cost Delivery Expense ₱ 4,800.00 ₱ 57,600.00 ₱ 57,600.00 Total Table 4.7 Schedule 7: Promotional Expenses Cost Free Taste Flyers No. of Months Annual Cost ₱ 1,500.00 Introduction of the product ₱ 1,500.00 250.00 12 3,000.00 ₱ 4,500.00 Total Table 4.8
• 53. Schedule 8: Office Furniture & Fixtures Item Quantity Price Amount Depreciation Expense ₱ 1,500.00 Estimated Useful Life 3 Table 1 ₱ 1,500.00 Office chair 2 600.00 3 200.00 750.00 3 250.00 1,000.00 3 333.33 ₱500.00 300.00 Ceiling fan 1 750.00 Cabinets 1 1,000.00 ₱ 3,850.00 Total ₱ 1,283.33 Table 4.9 Schedule 9: Equipment Item Computer Quantity Price Amount 1 ₱ 15,000.00 ₱ 15,000.00 Table 5.1
• 54. Schedule 10: Depreciation Expense Item Cost Estimated Useful Life Depreciation 2014 2015 2016 ₱ 3,850.00 (please see schedule 7) ₱ 1,283.33 ₱ 2,566.67 ₱3,850.00 15,000 Office Furniture & Fixtures 5 3,000.00 6,000.00 9,000.00 ₱ 4,283.33 ₱ 8,566.67 ₱ 12,850.00 Office Equipment Total Table 5.2 Statement of Cost of Goods Sold 2014 2015 2016 - - ₱ 491,979.60 ₱ 516,578.58 ₱ 542,407.51 42,000.00 42,000.00 42,000.00 27,000.00 27,000.00 27,000.00 ₱ 560,979.60 ₱ 585,578.58 ₱ 611,407.51 Beg. Inventory Add: Purchase of Raw Materials Direct Labor Overhead: Packaging Cost of Goods Sold Table 5.3
• 55. Projected Demand and Sales For 2014-2016 Demand 2014 2015 2016 Peanut Bread ₱ 14,400.00 ₱ 15,840.00 ₱ 17,424.00 Ensaymada 14,400.00 15,840.00 17,424.00 German Bread 14,400.00 15,840.00 17,424.00 Croissant 14,400.00 15,840.00 17,424.00 57,600.00 63,360.00 69,696.00 Peanut Bread 216,000.00 237,600.00 261,360.00 Ensaymada 216,000.00 237,600.00 261,360.00 German Bread 288,000.00 316,800.00 348,480.00 Croissant 288,000.00 316,800.00 348,480.00 ₱ 1,008,000.00 ₱ 1,108,800.00 ₱ 1,219,680.00 Total Sales Total Table 5.4 Projected Cost for the year 2014-2016 2014 2015 2016 ₱ 491,979.60 ₱ 516,578.58 ₱ 542,407.51 Table 5.5
• 56. Cost schedule Per Product Fillings ₱ 406.91 ₱ 40.00 ₱ 446.91 26% Ensaymada 406.91 21.00 427.91 25% German Bread 406.91 6.25 413.16 24% Croissant 406.91 32.00 438.91 25% ₱ 1,726.89 100% Peanut Bread Table 5.6 Product Name Quantity Produce Price Per Product Cost Per Unit Contribution Margin 2014 2015 2016 Ensaymada ₱ 40.00 ₱ 15.00 ₱ 11.17275 ₱ 3.83 ₱ 4.02 ₱ 4.22 40.00 15.00 10.69775 4.30 4.52 4.74 40.00 Peanut Bread 20.00 10.329 9.67 10.15 10.66 40.00 20.00 10.97275 9.03 9.48 9.95 ₱ 26.83 ₱ 28.17 ₱ 29.58 German Bread Croissant Total Table 5.7
• 57. Veggie Bread Projected Income Statement For the year ended Dec. 31,2014- Dec. 25, 2016 2014 2015 2016 ₱ 1,008,000.00 ₱1,108,800.00 ₱ 1,219,680.00 Less: Cost Of Goods Sold 560,979.60 585,578.58 611,407.51 Gross Income 447,020.40 23,221.42 608,272.49 Rent Expense 48,000.00 48,000.00 48,000.00 Salary 90,000.00 90,000.00 90,000.00 1,155.00 1,155.00 1,155.00 57,600.00 57,600.00 57,600.00 Promotional Expense 4,500.00 4,500.00 4,500.00 Depreciation Expense 4,283.33 4,283.33 4,283.33 205,538.33 205,538.33 205,538.33 241,482.07 317,683.09 402,734.16 77,274.26 101,658.59 128,874.93 ₱ 164,207.81 ₱ 216,024.50 ₱ 273,859.23 Sales Less: Operating Expenses Office Supplies Transportation expense Total Operational Expenses Income Before Tax Less: Income Tax (32%) Net Income Table 5.8
• 58. Veggie Bread Projected Statement of Cash flow For the year ended Dec. 31,2014- Dec. 25, 2016 2014 2015 2016 ₱ 229,641.14 ₱ 449,948.97 1,008,000.00 1,108,800.00 1,219,680.00 1,088,000.00 1,338,441.14 1,669,628.97 Cash Inflows Cash, Beg Partners Contribution Sales Total Cash Inflows ₱ 80,000.00 Less: Cash Outflows Purchased of Fixed Asset 18,850.00 Purchase of raw materials 491,979.60 516,578.58 542,407.51 Packaging 27,000.00 27,000.00 27,000.00 Direct Labor 42,000.00 42,000.00 42,000.00 Salary & Wages 90,000.00 90,000.00 90,000.00 1,155.00 1,155.00 1,155.00 Rent 48,000.00 48,000.00 48,000.00 Transportation expense 57,600.00 57,600.00 57,600.00 4,500.00 4,500.00 4,500.00 77,274.26 101,658.59 128,874.93 858,358.86 888,492.17 941,537.44 ₱ 229,641.14 ₱ 449,948.97 ₱ 728,091.53 Office supplies Promotional Expense Income Tax TOTAL Operating Expenses Cash Balance, End Table 5.9
• 59. Veggie Bread Projected Balance Sheet As of Dec. 31,2014- Dec. 25, 2016 2014 2015 2016 ₱229,641.14 ₱449,948.97 ₱728,091.53 229,641.14 449,948.97 728,091.53 3,850.00 3,850.00 3,850.00 15,000.00 15,000.00 15,000.00 18,850.00 18,850.00 18,850.00 4,283.33 8,566.67 12,850.00 14,566.67 10,283.33 6,000.00 244,207.81 460,232.30 734,091.53 - - - 80,000.00 244,207.81 460,232.30 164,207.81 216,024.50 273,859.23 ₱244,207.81 ₱460,232.30 ₱734,091.53 Assets Current Assets Cash Total Current Assets Non-Current Assets Office Furniture & Fixtures Office Equipment Total Less: Accumulated Depreciation Total Non-Current Assets Total Assets Liabilities & Equity Current Liabilities Partners Equity Partners Contribution Add: Net Income Total Liability & Equity, end Table6.1
• 60. Financial Ratio 2014 2015 2016 ₱216,024.50 ₱ 273,859.23 ₱164,207.81 1,008,000.00 1,108,800.00 1,219,680.00 16% 19% 22% Profit Margin ₱ 216,024.50 ₱273,859.23 ₱164,207.81 80,000.00 80,000.00 80,000.00 2.05 2.70 3.42 ₱1,008,000.00 ₱1,108,800.00 ₱1,219,680.00 244,207.81 460,232.30 734,091.53 4.13 2.41 1.66 Return on Investment Return on Total Asset ₱1,108,800.00 ₱1,219,680.00 ₱1,008,000.00 244,207.81 460,232.30 734,091.53 4.13 2.41 1.66 Return on Equity ₱523,221.42 ₱608,272.49 ₱447,020.40 14,566.67 10,283.33 6,000.00 30.69 50.88 101.38 Fixed Asset Turnover ₱523,221.42 ₱608,272.49 ₱447,020.40 244,207.81 460,232.30 734,091.53 1.83 1.14 0.83 Total Asset Turnover ₱201,255.00 ₱201,255.00 ₱201,255.00 26.83 28.17 29.58 7,502 7,145 6,804 Breakeven Point in Units Table6.2
• 61. Chapter VI MANAGEMENT STUDY This chapter tackles about the entire organizational arrangement of the business. The management aspect suggests a clear and precise identification of duties and responsibilities, flow of authority and manpower level requirement. This contains the organizational chart and the qualifications of the people involved the formation of the business organization, structure. It must be set up aimed at optimum effectiveness. To attain this, management must be able to plan all activities, for the company to become dynamic and competitive business over and done with human resource, financial capability and new technologies. Form of Ownership The type of business ownership will be a partnership; in which partners pool money, skills, and other resources, and share profit and loss in accordance with the terms of the partnership agreement. In the absence of such agreement, a partnership is assumed to exit where the participants in an enterprise agree to share the associated risks and rewards proportionately. Complementary skills and additional contacts of each pattern can lead to the achievement of greater financial results together than would be possible apart. Mutual support and motivation are needed for the business to last longer.
• 62. Organizational Chart The Incorporators Job Positions (Bryan Agustin B. Oculam) Manager (Anjhie Grace M. Valle) Book keeper/ Cashier (Brenely T. Solis) Waitress Table 7.1 (Junryl L. Ybañez) Head Baker
• 63. Job Analysis Job Title: Manager Name: Bryan Agustin B. Oculam Job Description Responsibilities:  Oversees daily production  Work Schedules  Assigning Employee Tasks  Ensures product quality  Keeps facility running, and clean  His/her job includes planning, organizing, directing and controlling all the employees of the organizations as well as its relationship to each other.  Responsible in checking sales records.  Responsible in purchasing raw materials. Job Qualifications  A graduate of any management courses  Male or female, from 21-26 years old.  At least 2 years work experience  Must have a good moral character  With pleasing personality  Salary Scale: ₱ 4,000.00 monthly
• 64. Job Title: Bookkeeper/Cahier Name: Anjhie Grace M. Valle Job Description Responsibilities:  Responsible for monthly income statements and balance sheets  Responsible in collection of receivables and payroll.  He/she is responsible in managing the cash.  Responsible for keeping records of sales.  Responsible in cash deposit. Job Qualifications  Female only  Must be a graduate of any 4 years business related course  Male or female, from 21-26 years old  At least 2 years work experience  Must have a good moral character  Must be honest and with pleasing personality  Salary Scale: ₱ 2,000.00 monthly
• 65. Job Title: Waitress Name: Brenely T. Solis Job Description Responsibilities:  She files all the papers.  She takes care of the communications such as telephone, email, or meeting in person.  She helps the manager in his/her projects.  She records and updates the database.  She takes care of the photocopying and scanning the documents.  She sorts and hands out post.  She supports the reception desk. Job Qualifications  Female only  18-25 years old  At least 5’2 in height with pleasing personality.  A college level or high school graduate  Must have good moral character  Must be responsible and hard working  Salary Scale: ₱ 1,500.00 monthly
• 66. Job Title: Head Baker Name: Junryl L. Ybañez Job Description Responsibilities:  Design and cost baked products recipes in liaison with Customer Service Management  Ensure quality control during and post production including maintenance of hygiene standards and accurate pack weights and QC audit of retail outlets as required  Supervise and train production staff to efficiently and safely produce high volume, multiple baked products with minimum of wastage  Calculate raw material needs and efficiently maintain stock levels to meet production requirements  Oversee distribution of production to retail outlets in liaison with location management
• 67. Job Qualifications:  Male  No specific requirements for age  Bachelors / College Degree  Three years of working experience in the same field  Must have complete and thorough knowledge of baking processes for bread, pastries and other baked products  Managerial/supervisory experience in high volume bakery production environment  Recognized baking qualifications and training required  Must have good moral character  Must be responsible and hard working  Salary Scale: ₱ 3,500.00 monthly
• 68. Company Policies  Employees are mandatory to turn off all the machines and equipment’s after using.  Follow safety provision to avoid accidents.  Observe cleanliness in the working area.  Employees are required to wear their prescribed uniform.  Absent without leave (AWOL) is subject to appropriate sanctions unless provided with a valid reason. Management Policy  Client shall be the first priority.  Maintain uniqueness and great quality products.  Make sure the availability of the product.  Guarantee the constancy of the rate of each product. Call on duty  Mandatory to work overtime if needed.
• 69. Chapter VII SOCIO- ECONOMIC STUDY The chapter includes the socio-economic benefits if the proposed project. The proposed project aims to help our localities and farmers of the country and to give healthy lifestyle to the people. Nowadays it is important that small entrepreneurs should realize the worth innovating and starting a business that would largely contribute to the socio-economic development of the country. In this certain project, the researchers consider the whole part of the business especially the social impact PROJECTS •INCOME •IMPROVE STATUS OF LIVING •EMPLOYMENT •TAXES •GOVERNMENT •COMMUNITY DEVELOPMENT Table 8.1 in the community.
• 70. Contribution to Income and Employment The main goal of a certain business is to have high income especially in the part of the owner. The business should generate pleasantly relationship between the manager and employees to attain the main goal of the business which is to have an income. At workers and employees in the business need income to support their own needs and also for their services rendered in the business. Building up business is a great opportunity for an employed people to have jobs. it will also be their opportunity of having another source of income. Tax Contribution This business is expected to give a great contribution to the government in the form of taxes. The tax payment from the business would help the localities as well as the economy in its future project especially for people that will benefit. This would help the people to more sprightly.
• 71. Chapter VIII CONCLUSION AND RECOMMENDATION Recommendation After bearing in mind the significant factors in the study that we conducted such factors like the marketing, financial, technical and management and socioeconomic study. It is therefore recommended that VEGGIE BREAD bakery will be pursued and the business establishes at Don Apolinar Velez Street fronting St., Cagayan de Oro City. Conclusion Based on the research and study that we conducted, we therefore conclude that our business is feasible and viable in the market.
• 72. Appendix A Survey Questioner Name (optional): Age: Course: Sex: M F Instruction: Shade/Check the box for the choice of your answer. Veggie Bread Verities of bread that is made richer and healthier added with nutritious vegetables which give you a new and healthy way of enjoying your craving for bread. 1. Do you eat vegetable? Yes No 2. How often do you eat vegetable? Everyday Occasionally 3. Do you like to eat bread? Often Yes Very often No 4. How often do you eat bread? Everyday Occasionally Often Very often
• 73. Question # 5 - 7 refers to the Veggie Bread. 5. How do you find Veggie Bread as an alternative for our conventional breads? Very Satisfying Satisfying Average 6. How much are you willing to pay for the Veggie Bread? 15-20php 21-25php 7. What variety of Veggie Bread is your favorite? Peanut Bread German Bread Croissant Ensaymada Rate the following items asked by CHECKING the box for the choice of your answer. Items Packaging Cleanliness (Product) Price (2) Satisfying Taste (1) Very Satisfying (3) Average (4) Dissatisfying
• 74. Appendix B Curriculum Vitae Name: Bryan Augustine B. Oculam Birthday: Aug. 25, 1992 Age: 21yrs. old Address: Osmeña Street, Cagayan de Oro City Nationality: Filipino Religion: Roman Catholic Email Address: [email protected] Mother: Dorotea B. Oculam Father: Zenon A. Oculam Educational Background Primary: City Central School Secondary: Misamis Oriental General Comprehensive High School Tertiary: Capitol University Course: Bachelor of Science in Business Administration Major: Marketing Management
• 75. Curriculum Vitae Name: Anjhie Grace M. Valle Birthday: Jan. 16, 1993 Age: 20 yrs. old Address: Danao, Taytay El Salvador City Nationality: Filipino Religion: Roman Catholic Email Address: [email protected] Mother: Jessica M. Valle Father: Antonio S. Valle Educational Background Primary: Taytay Elementary School Secondary: Alubijid National Comprehensive High School Tertiary: Capitol University Course: Bachelor of Science in Business Administration Major: Marketing Management
• 76. Curriculum Vitae Name: Brenely T. Solis Birthday: Sept. 17, 1992 Age: 21yrs. old Address: Cagayan de Oro City Nationality: Filipino Religion: Roman Catholic Email Address: [email protected] Mother: Brenda T. Solis Father: Felipe R. Solis Educational Background Primary: Mahay Elementary School Secondary: Mahay National High School Tertiary: Capitol University Course: Bachelor of Science in Business Administration Major: Marketing Management
• 77. Curriculum Vitae Name: Junryl L. Ybanez Birthday: Feb. 19, 1994 Age: 19 yrs. old Address: Ivio Villanueva, Misamis Oriental Nationality: Filipino Religion: Iglesiani Cristo Email Address: [email protected] Mother: Josephine L. Ybañez Father: Lucio R. Ybañez Jr. Educational Background Primary: Bohol/ Vicenti N. Chavez Memorial Central School Mindanao Secondary: Villanueva National High School Tertiary: Capitol University Course: Bachelor of Science in Business Administration Major: Marketing Management

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Feasibility study on proposed cake shop at Central Philippine University

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