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Milestone One: Feasibility Analysis    In 3-2 Course Project: Journal Milestone One: Feasibility Analysis, you will submit a feasibility analysis to your Journal

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Milestone One: Feasibility Analysis   

In 3-2 Course Project: Journal Milestone One: Feasibility Analysis, you will submit a feasibility analysis to your Journal. The analysis will enable you to determine the viability of a business and it should include the following components:

• Concept Statement
  • A detailed description o Intended target market 

§ Includes: age range, geographical location, income, etc. o       Benefits – Why would someone want to buy this product or service o       Positioning – What is the niche? How will the product or service be different from what is on the market now?

• • Description of how the idea will be sold – Briefly describe how this product or service will be sold and marketed.
• Concept Test o Survey or Focus group - Conduct a survey (website:  Survey Design). Distribute surveys to the target market. The results will help to determine if the idea is viable.
  • Trend Research - Which force/trend is being capitalized upon and why?  § When did the trend start?
• Financial Start-Up Cost o           Overview of capital requirements

§ What are the major start-up costs?

• Is this an opportunity or an idea, why?  

You should title your Journal page to match the Module Number and Business Plan component (example: M03 Feasibility Analysis).  In the instances where your data does not lend itself easily to the journal format, such as financial analysis and projects, you may attach a spreadsheet to the Journal page.  Your instructor, however, will provide formative feedback through the comment section in the Journal and not on the attachment you upload.  Be sure to review your comments section and apply the instructor feedback to your business plan before the final submission of the completed project in module 10.  This milestone will be graded separately using the rubric located in the Journal Rubric document in the Assignment Guidelines and Rubrics section of the course.  You may periodically revisit this Journal topic and edit as needed to meet the needs of your business plan.