Feasibility Orientated Study
	Before embarking on a costly study to assess the viability of a new attraction or accommodation, it is advisable to discuss preliminary ideas with your bank manager and the planning authority, to make sure that there is no obvious obstacle to your intentions. Given that all is well in principle, it is necessary to carry out a feasibility orientated study, which will be essential when going to raise finance for the project. The study will contain three vital elements: evidence of demand; construction feasibility and budget; financial feasibility or business plan. If the project relies on attracting customers or extra customers, financiers will need convincing that business assumptions put forward are reasonable. Historical data indicating high occupancy or usage will be an essential first step, but an examination of future trends and likely fashion is also often necessary. Finally, it is important to assess the competition and in particular any future plans already lodged by competitors. The construction feasibility stage is a vital one in the overall construction process. There are no hard and fast rules about how far to go with the study; a lot will depend on the size, complexity and nature of the intended development. Typically, the work that will be carried out for a construction feasibility study includes: site survey, structure / condition survey; consultation with utilities; consultation with planning authorities; sketch designs; construction budget; outline programme; proposed form of contract; environmental assessment; specialist surveys (if applicable). The business plan stage will help to give some structure to your own thoughts and ensure that no important aspect is overlooked. The business plan should include: Executive Summary. Introduction ­ background to the market and your aims. Details of the Business. Details of the Management / Personnel. The Service / Product. The Market. The Marketing Strategy. Business Location. Finance / Funding and Sensitivity Analysis. Objectives / Strategy of the Business. A range of professional advice is available to operators and developers who need to carry out a feasibility orientated study. Professional consultants, such as Sykes Leisure Projects, can bring a wide experience and a range of expertise to bear on the project throughout the viability continuum. Assistance can be provided within the following fields: market evaluation; facility concepts and planning, and development brief; theme research, interpretation and presentation; project appraisal and financial evaluation; development cost appraisal; funding and management structures; project implementation.	Destination Planning Tourism & Leisure Marketing Attraction & Facility Development Feasibility Analysis & Business Planning Operational Advice Tourism & Leisure Strategies Cultural Strategies & Best Value