Feasibility Plan

    Your Candle Company name is “Joy scent”, you are going to give feasibility plan of your business you are about to start up You should give a proper details of your feasibility plan like expense and income statement Location Analysis 1. Explain the general area where your business will be located, describing the surrounding population of potential customers (provide numbers). 2. Describe any other factors in your choice of location, such as your proximity to transportation, suppliers, or relevant services. Site Analysis 3. Describe the site of your business, including any relevant details such as parking, neighboring firms, visibility, and traffic (provide numbers). 4. Explain why this choice of a site is appropriate for what you are selling and appropriate for the customer groups to whom you are selling. Site Expenses 5. If you are leasing your business premises, outline the major provisions of the lease including all rental and maintenance fees and renewal terms. Or If your business is home-based, calculate what percentage of the home (square footage) will be used exclusively for business purposes. Explain the ownership or leasing arrangements of the home. Market Potential 6. Clearly define the market potential you will be estimating. In other words, you will be calculating the annual expenditures of which group of potential customers on what product or service? 7. List all the relevant data you have gathered, indicating the sources. (If the information is extensive, attach the list of sources as an appendix.) 8. Clearly explain any calculations or logic involved in estimating the market potential, and indicate the dollar value of your estimate. Competition 9. Name, locate, and briefly describe any direct competitors to your business. Provide an estimate of the sales of each, explaining your sources of information. 10. Name, locate, and briefly describe any indirect competition. 11. Describe any advantages you will have over the competition. Sales Forecast 12. Make as many sales forecast estimates as you can, using different methods. Rank the different estimates to show the range of sales you might expect. 13. From the information above, choose or calculate a single conservative estimate of sales that you will use for planning your business. Explain your choice. Protecting the Business 14. Briefly describe any business insurance you will carry, explaining the coverage, the premiums, and the payment schedule. 15. Explain any techniques you will use for protection against theft or other dangers to which the business could be subject (e.g., security systems or operating policies). 16. Describe any intellectual property of the business and how it will be protected.