feasibility studies and business plans

The term feasibility study is quite modern and only really took central stage in the project planning process in the 1960's and 70's. There are hundreds of definitions of what a feasibility study is in project management literature.

Our team conducts feasibility studies for a variety of arts organizations. An independent industry expert usually prepares this detailed study, which is required by potential lenders and investors. It recommends the attraction mix and can include a walk-through description and artist conception images for use in initial presentations.

Turning Vision into Reality

Once the concept is defined and validated, Pheiff & Some provides the services that concentrate on developing a detailed business plan. The business plan presents a conceptual master plan for completion of the project, based on the vision, including the overall theme, design concepts, program mix, operating requirements and capital costs. It quantifies the potential market, establishes visitation and spending potential and pricing structures as well as operating costs, and presents a financial pro forma based on the above to establish the economic viability of the project.

The following services include conducting and/or completing a feasibility study and business plan.

• Orientation Meeting
• Site and Area Evaluation
• Master Planning
• Concept Description and Industry Trends
• Market Analysis
• Evaluation of Comparable Facilities
• Annual Usage
• Conceptual Development & Design
• Operating Strategies
• Organization Strategies
• Operating Expenses
• Financial Forecasts & Pro Formas
• Investment Parameters