Feasibility Analysis: Industry and Market, Product or Service, and Financial Feasibility (Essay Sample)
Conduct a feasibility analysis by researching and analyzing each of the following topics and indicate how your business occupies that specific space:
Industry and market feasibility.
Product or service feasibility.
Financial feasibility.
Entrepreneurial readiness.
Explain whether the business idea needs to be modified, changed significantly, or abandoned based on your feasibility analysis. (Note: If you abandon the business idea, then you will need to select and analyze a new business that has profit potential.)
Include at least two references outside the textbook. For help with research, writing, and citation, access the Strayer Library or review the Bachelor of Business Administration Library Guide.
This course requires the use of Strayer Writing Standards. For assistance and information, please refer to the Strayer Writing Standards link in the left-hand menu of your course. Check with your professor for any additional instructions.
Feasibility analysis
Name
Course
Instructor
Date
Industry and market feasibility
The business will operate in the beauty industry, which mainly covers hair, skin care, beauty products, and services like salons and spas. The beauty industry is one of the growing industries globally. The worldwide beauty market has increased due to the demand for hair and skin care products. The beauty industry makes over $ 511 billion yearly (Dao,1). The beauty industry is very attractive because of the following factors. Firstly, the industry depends on talent, whereby the business with the better talent for making hair will have an upper end in the competition. The beauty industry is also fragmented into different elements such as salons, nail parlors, Spas, and skin care products, making it possible to have many players focusing on various beauty issues. The industry is also growing, meaning that new ventures have an opportunity of capturing a market share from the growing market. Beauty products have high demand, which makes the industry very attractive. However, the industry is faced with high buyer bargaining power since many sellers and substitute products exist.
The market feasibility analyses the target market's capacity to enhance a new venture's profitability. The market
Other Topics:
- Declining Client RequestDescription: For every business, having the right employees with the right ideology and self-drive is the most crucial form of building a steady firm or company. It is for these reasons that we at Drimo Data Analytics company go far and beyond when it comes to hiring employees. We have several qualities in mind that...1 page/≈275 words| No Sources | Other | Business & Marketing | Essay |
- Building Effective Marketing TeamsDescription: Teams are the backbone of any given organization. Organizations have higher chances of succeeding when their employees work as a cohesive unit. Success arises because good teamwork facilitates cooperation, which occurs when the team’s overall impact is greater than the sum of individual contributions. A...1 page/≈275 words| 2 Sources | Other | Business & Marketing | Essay |
- Applying for a Certain PositionDescription: I want to apply for the position of outside sales representative for your company, and looking at the qualifications listed, I believe I am the right candidate. I am an ongoing student at Michigan State University pursuing a bachelor’s degree in business entrepreneurship. I believe I can add some expertise...1 page/≈275 words| No Sources | Other | Business & Marketing | Essay |
