Need more information about a business plan and feasibility study? You came to the right place! We have information on both counts for you. To begin, it helps by defining both a business plan and a feasibility study—and to note that they are not the same. A feasibility study is a more academic document and research that provides data describing whether or not a particular business concept will hold water in the real world. A business plan on the other hand is typically a document that is used to seek funding, and that provides lenders and information and details on an entrepreneurs business concept, including the following:
• Details about the product/service
• Information about the target market
• An analysis of the competition
• Information about the financial model
Each of these elements form the basis of a solid business plan. Naturally, because both of these types of documents are relevant to the launch and operation of a start-up business, there is some overlap between a business plan and feasibility study. However, as noted above they are typically used for very different purposes, and as a result, it makes sense to check with your lender, investor, funder, or whoever is writing your checks first to find out what they really want. If you decide you need a business plan, the business plan writing experts at MasterPlans can help. Reach us today at 877-453-2011 for more information about our business plans and what we offer you.
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