Feasibility Analysis and Study

Abstract

Purpose

The main purpose of this chapter is to define the concept, scope and importance of a feasibility study when developing a new business venture. It also presents the main components of a feasibility study by describing a feasibility study template.

Methodology/approach

A literature review was conducted on conceptual issues and practical aspects of the feasibility analysis and study by presenting a hypothetical case of study of a boutique hotel.

Findings

This chapter highlights the importance of both feasibility analysis and study, and the main reasons why all entrepreneurs should carry them out. It presents a simple template that shows the key components of a feasibility study and also a hypothetical case of study of a boutique hotel that helps in relating the concepts and ideas previously developed.

Practical implications

This chapter introduces both theoretical and practical approaches by presenting a model or template on how to develop the feasibility analysis and study. This template can be applied at any stage of assessment process of a business project.

Originality/value

The concept of a feasibility study is accompanied by a practical template and a case study. This approach contributes to a better understanding of the value and utility of feasibility analysis and study in assessing tourism business ventures.

Citation

Arvanitis, S. and Estevez, L. (2018), "Feasibility Analysis and Study", Sotiriadis, M. (Ed.) The Emerald Handbook of Entrepreneurship in Tourism, Travel and Hospitality, Emerald Publishing Limited, Leeds, pp. 109-129. https://doi.org/10.1108/978-1-78743-529-220181019