Feasibility studies are the first step on the road to help you decide whether your business is suitable for franchising. It is a low cost method of gaining some helpful information and answers to questions you might already have.
Why do I need a feasibility study?
By conducting a basic feasibility study, we can help you examine your business to assess a number of critical factors. We will look at whether or not you should franchise your business, or if there is in fact a better way of developing your business. And if we decide that the business is suitable, we will also examine what is involved in franchising.
Our basic feasibility study will look at whether your business is likely to be attractive to franchisees and what your competitive advantage would be if you choose to franchise the business. The study will also give you an idea of the implementation timetable as well as the costs involved, plus a brief examination of the advantages and disadvantages.
We also offer a comprehensive feasibility study. This will include more in-depth information than the basic feasibility study including:
Current and emerging competitors, in order to make a success of any franchise business opportunity you need to be fully aware of whom you are competing against. We will review all of your competitors to ensure that you have a better understanding of how you can structure your business to compete against them.
Current business conditions, if we feel that the time is not right for your franchise opportunity we will tell you.
A detailed analysis of current consumer demands, understanding your market is an essential part of a successful franchise business opportunity.
Our detailed feasibility studies will look at these and other important developments in the franchise industry that could affect the success of the franchise opportunity. We can also offer plenty of advice on how to structure your franchise in order to help it grow.
The challenges and rewards of a franchise opportunity can be enormous, but success is often dependent on thorough research at the initial planning stages. Our goal is to help you uncover any hidden material that might influence your decision to move forward with your chosen business opportunity. Armed with all the facts gleaned from our comprehensive feasibility studies, you will be in the best possible position to judge whether (or not) the franchise business opportunity is the right one for you at the current time.