A Structural Model for Launching a Business Venture in The Hospitality Industry
Keywords:
Business Planning, Feasibility Studies, Capital BudgetingAbstract
This paper is concerned with the important elements to consider when conducting feasibility studies for small and medium sized businesses in today’s rapidly changing world. The stages involved in these studies are grouped under two major headings, namely, market feasibility and financial feasibility. Analysis of market feasibility includes defining the market area characteristics, project site & area evaluation, competition and demand analysis, and finally, recommending facilities and services. Financial feasibility covers the estimation of operating results and project valuation.
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