Entrepreneurship Journey — Entrepreneurship STD 11 Commerce — Question

The information gathered and presented in a feasibility study will help entrepreneurs to:

• List in detail all the things they need to make the business work.
• Identify logistical and other business-related problems and solutions.
• Develop marketing strategies to convince a bank or investor that their business is worth considering as an investment.
• Serve as a solid foundation for developing their business plans.

Even if entrepreneurs have a great business idea they still have to find a cost-effective way to market and sell their products and services.
For example, most commercial spaces lease place restrictions on businesses that can have a dramatic impact on income. A lease may limit business hours/ days, parking spaces, restrict the product or service that can be offered in some cases, even limit the number of customers a business can receive each day.