Introduction
Understanding the feasibility study process helps you plan effectively and set appropriate expectations. This guide walks through each phase of the process and typical timelines.
Most feasibility studies take 4-6 weeks to complete, though timelines vary based on project complexity and data availability.
See our Feasibility Studies Complete Guide for comprehensive information.
Typical Timeline
Most feasibility studies for outdoor hospitality projects take 4-6 weeks to complete. Timeline factors include:
- Project complexity
- Market data availability
- Client responsiveness
- Scope of analysis
Phase 1: Project Kickoff and Information Gathering (Week 1)
The process begins with:
- Initial consultation and project understanding
- Site visit and evaluation
- Information gathering from client
- Project scope definition
Phase 2: Market Research and Analysis (Weeks 2-3)
This phase includes:
- Market data collection
- Competitive property analysis
- Demand analysis
- Market trend evaluation
Phase 3: Financial Analysis (Weeks 3-4)
Financial modeling includes:
- Revenue modeling
- Expense estimation
- Financial projections
- Scenario analysis
Phase 4: Report Preparation (Weeks 4-6)
Final phase includes:
- Draft report preparation
- Client review and feedback
- Report revision and finalization
- Delivery and presentation
Client Responsibilities
To keep the process on track:
- Provide requested information promptly
- Respond to questions quickly
- Schedule necessary meetings
- Review drafts within agreed timeframes