Business Feasibility Questionnaire

1. What exactly is the nature of the business, and what exactly am I selling?
2. Is this business a good match for my skills and experience?
3. Who are my customers and what are their buying habits?
4. Who are my competitors?
5. Why will customers buy my product or service instead of my competitor's product or service?
6. What is the size of the market, and what do I estimate will be my market share?
7. Manufacturing or service business: how many orders or contracts can I have already in place when I launch the business?
8. Retail business: how soon after I launch the business can I expect sales revenue?
9. Who will sell and/or distribute my product or service?
10. Can I produce the product or deliver the service at a competitive price?
11. How much product can I produce, or how many customers can I serve, in the first year of operation?
12. Can I find skilled employees to work for me?
13. What are the projected start-up costs and annual operating costs?
14. How much money will I need to borrow to start and operate the business?
15. Can I obtain the money to finance this business venture, and what is the level of financial risk?
16. Will the projected profits from the business meet my family's needs?
17. Comparing your questionnaire results for each of your key business ideas should help you decide which one is right for you and which one has the highest likelihood of success.

For more detailed information on key areas that will affect and determine the feasibility of your potential business, refer to ED&T's Marketing for Small Business and Financial Planning for Small Business.