Feasibility Report Template: Validation of Business Idea
Countless spectacular business ideas have not been fully explored but only a few that make it to realization. As a businessman, you have to determine whether an idea is feasible enough to be applied. You will find the feasibility report template as a helpful tool when you are attempting to show people the possible implementation of your business idea.
Feasibility Report Template Benefits
Using the template is going to save you from the headache of having to assemble the report out of nothing. This report has several benefits. The first one would improve the team’s focus toward the objective that they want to gain. Sometimes, the minuscule operational details may divert the team’s attention. This report prevents that from happening.
When it comes to a certain business idea, you may not have all team members on board. It might be because of the wariness that the idea will not work. The report will help you in explaining to them why your idea can be implemented based on valid data. Other team members will be able to visualize how the idea can be realized.
Feasibility Report Template Creation Guideline
The following list is the guideline to utilize the feasibility report template you find on this page. How can you write the report properly?
1. Propose the idea concisely
You have to write down your business idea in a concise manner. This way of writing is going to help the reader internalizing your idea to their brain. It is best placed at the beginning of your report.
2. Thorough market research
In the introduction part of your report, you have to present thorough research on the market. This research includes an analysis of market trends, demands, and current competitors. It builds the argument about why the product idea you have is important.
3. Describe the product or service as clearly as possible
It is important to describe the product or services as clearly as possible. In this part, you have to operationalize all the ideas into doable steps.
4. Present studies about product feasibility
Provide research-based arguments that the product will work well. It might be related to a production standpoint and everything. The study must be factual.
5. Propose solutions to issues
If there are issues with the product based on points 3 and 4, you can propose solutions to those issues at this part. The solution should be logical and if possible, backed by previous studies.
6. Provide argumentative conclusion
At the end of your report, you have to provide a conclusion. It should be in an argumentative tone if you want to make people interested in your idea. However, being honest if the idea is not feasible is also important if research does not back your idea.
Feasibility Report Template Basic Contents
Here are the common contents that you will find in the feasibility report template.
- Market information; this information will tell the reader about market readiness to receive your product or service.
- Financial information; it reports whether the organization can fund the production and marketing process.
- Technical information; it reports whether the product or service is feasible for mass production.
- Structural information; informs the personnel needed for this specific project.
Feasibility Report Template Examples
You will obtain various feasibility report template examples on this page. There is report for an engineering projects, restaurant business, and even school. Many more options are available if you are looking for them.