Michigan Feasibility Study

Michigan Feasibility Study

If your company needs to create a feasibility study our team at MFN can assist. For over 20 years our firm has assisted hundreds of companies in over 50 countries write and draft feasibility study reports. Our staff of attorneys, business plan consultants, and finance professionals have written feasibility studies for such diverse product and service offerings as real estate development (of all types), oil and gas exploration and refineries, hi tech and medical projects and general product development. We will ensure that your report covers what you need to know to make an educated decision about moving forward.

Traditionally, a company undertakes the writing of a feasibility study prior to spending significant sums of capital on a project such as in Michigan. For example, prior to a real estate company spending millions of dollars to begin development of single family homes, the company wants to first know if the project is even “feasible”.  Information such as the laws of the area, zoning rules, restrictions and the permit process, as well as environmental impact, target markets, pricing per unit are vital. These factors must be known prior to committing to develop such a project. While a feasibility study somewhat resembles a business plan, the study itself is many times longer and contains more details, including extensive financial projections.

MFN’s team is respected for its keen insights into any given market, and our straight forward assessment regarding a projects viability. We work one-on-one with our clients to ensure that each project is specifically tailored to the company’s needs.

Various Types of Feasibility Study Reports

MFN’s team can assist with any of the noted feasibility studies below. Each separate study has its own features but there are more similarities among them than there are differences.

4 Main Feasibility Studies

  • Real Estate Feasibility – This is the most common feasibility study that we at MFN write. Real estate feasibility reports include such features as the land survey, building permits, zoning laws, impact on the surrounding environment and natural habits, traffic issues and general impact on businesses in the area as well as the overall market opportunity. Housing developments such as condos, single family homes and apartments, or larger projects such as hotels or buildings or sky scrapers often create real estate feasibility studies before land acquisition and development.
  • Comprehensive Feasibility– A comprehensive feasibility study is an all-inclusive report that takes into consideration some of the most rational business practices one should implement before undertaking any project. The comprehensive feasibility includes data on land acquisitions and real estate issues, economic and cultural impact on the greater surrounding areas, and more. Such comprehensive studies can be found in our business plan features (if a client wants a very long and detailed analysis). The comprehensive feasibility study is also referenced in the real estate feasibility study (see above) and together with the real estate report is the most popular feasibility study we offer.
  • Financial Economic Feasibility– An economic feasibility study is conducted when a company wants to know if the proposed amount of capital and financing is sufficient to complete a project successfully. While a business plan may have a section called the “CBA” or cost-benefit-analysis, in an economic feasibility study it will be greater in detail and have more statistics and numbers in the financials.
  • Marketing Feasibility– The marketing feasibility studies the market impact and penetration, such as the demographics, target market, product testing and more. Prior to launching a project into the market, whether in a local, regional, national or global environment, a viable study on the market is imperative.

 Additional Feasibility Studies

Our firm has also written and assisted with the following additional (not as popular) feasibility reports, including:

 Technical Feasibility– If a company has the technological know how and resources to achieve its goals.

  • Schedule Feasibility-Is there enough time and resources to complete the project on time?
  • Cultural Feasibility-Local and greater cultural and societal impact.
  • Legal and Ethical Feasibility– Are there ethical and legal implications of a project and if so what are they?
  • Resource Feasibility-What resources are needed and is that enough to complete the project successfully?
  • Operational Feasibility– can your firm solve difficulties and maximize potential opportunities during the development.

 Why Write a Financial or Market Feasibility Study?

Writing a professional feasibility study is good business practice, especially for companies that are planning on raising many millions of dollars and want to have the knowledge readily available to make an educated decision about a projects viability like a Michigan based project. By creating such a feasibility study, for instance, for a real estate project, you will be able to navigate potential pitfalls during development and save needed capital in the process, as well as possibly discover new opportunities in the market.

What We Do

Our team at MFN has worldwide experience in writing feasibility studies. Here is a partial list of our process. We have used a real estate project as an example. Numerous features are missing but the general idea can be conveyed as follows:

Review

  • Initial analysis of your project
  • Recommendation on next course of action
  • Undertake the project

Information assessment and collection

  • Initial analysis of the proposed development area, including the initial demographics
  • Conduct land or site review
  • Proposed construction and development costs

Market analysis

  • Demographic analysis of proposed area
  • Neighborhood analysis
  • Demographic comparison
  • Municipal incentives
  • National market overview
  • Analysis of similar project or developments
  • Regional market analysis
  • Competitive market analysis
  • Competitive advantages of project or location
  • Disadvantages of project or location
  • Projected overall market
  • Pricing analysis
  • Purchases or occupancy
  • Interviews if needed
  • Financial analysis

Management summary

  • Principals
  • Advisors
  • Third party team, i.e. law firm, accountant etc.

Financial Statements and Projections

  • Pro forma
  • Balance sheet
  • Income statement
  • Profit and loss

Recommendations

Appendixes and Addendum

Once complete we will then send the draft version of the feasibility study for review and comments.

Start to Finish

MFN is a one-stop company for all your feasibility study, prospectus, business plan or offering document needs. Our team has been involved in literally thousands of projects.  We have set the bar high for feasibility study performance, taking into consideration time constraints and budgets. We pride ourselves on offering superior service – not just on a local or national level but on a global scale – at a fraction of the cost of our competitors and usually twice as fast. We give our clients the tools they need to make an educated decision about the business opportunity at hand by producing a market driven, financially conscience feasibility study. The success of our clients is the number goal of our company.

Feel free to reach out to us any time for a free consultation for your Michigan feasibility study.

Contact Us Today To Schedule Your Free Consultation

 

Read More

Feasibility Study