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Feasibility Study Interview

Mr. Adam Werner – Litchfield Motel owner/final decision maker Goal: To gain accurate information regarding the background of the Motel, finances and costeffective measures that is currently implemented. Thank you for agreeing to participate in a feasibility study interview. I am currently researching the feasibility options for the Litchfield Motel. The current owner can’t sustain the Motel’s current business model without experiencing a deficit margin. The Litchfield Motel much change its business model, therefore the options being studied are: implementing cost-cutting factors, converting the motel into apartments, or selling the property. The purpose of this interview is to help provide information that will aid in making an informed decision based on the answers you provide and other research options. Your responses are highly valuable and greatly appreciated. Please feel free to contact me with any questions you may have.

1. How many rooms are in the motel? 2. What is your yearly profit/deficit percentage?

3. What are your monthly operating costs?
4. What is the yearly overhead? 5. What is the upraised value of the property? 6. How much is owed on the motel mortgage? 7. What cost-effective upgrades could be made to save on energy costs? 8. What measures have you taken in the past to cut cost? 9. Were these measures effective?

Thank you for your time and responses. The information you have supplied will help make an informed decision regarding the new business model for the Litchfield Motel, which will be compiled into a final feasibility report.

Feasibility Study Interview
Mr. Myron Schuette – Litchfield Contractor of 20 years

Goal: To obtain financial costs and timelines regarding the renovation of the Litchfield motel into an apartment complex. Thank you for agreeing to participate in a feasibility study interview. I am currently researching the feasibility options for the Litchfield Motel. The current owner can’t sustain the Motel’s current business model without experiencing a deficit margin. The Litchfield Motel much change its business model, therefore the options being studied are: implementing cost-cutting factors, converting the motel into apartments, or selling the property. The purpose of this interview is to help provide information that will aid in making an informed decision based on the answers you provide and other research options. Your responses are highly valuable and greatly appreciated. Please feel free to contact me with any questions you may have. 1. What would your bid be to turn the motel into apartments? 2. How many units would be incorporated in the floorplan? 3. How many bedrooms/bathrooms are in each unit? 4. What is the total square footage of each unit? 5. What is the itemized breakdown for materials and labor? 6. What are some salvageable materials within the motel? 7. How long would it take to complete the construction project? 8. What would be your construction time-line? 9. If a timeline isn’t met, are there reimbursement opportunities? 10. What are some energy-saving upgrades that could be implemented?

11. What are some other factors that may influence the expense or time commitment for turning the Litchfield Motel into apartments?

Thank you for your time and responses. The information you have supplied will help make an informed decision regarding the new business model for the Litchfield Motel, which will be compiled into a final feasibility report.

Feasibility Study Interview
Mr. Chad Loche – Litchfield Realtor specializing in small commercial properties

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Goal: To gain valuable research regarding the Litchfield commercial market and the value the current property holds. Thank you for agreeing to participate in a feasibility study interview. I am currently researching the feasibility options for the Litchfield Motel. The current owner can’t sustain the Motel’s current business model without experiencing a deficit margin. The Litchfield Motel much change its business model, therefore the options being studied are: implementing cost-cutting factors, converting the motel into apartments, or selling the property. The purpose of this interview is to help provide information that will aid in making an informed decision based on the answers you provide and other research options. Your responses are highly valuable and greatly appreciated. Please feel free to contact me with any questions you may have.

1. What percentage to you charge for realtor’s fees?
2. What kind of commercial properties have you sold in the past? 3. What do you see in Litchfield’s current market trends? 4. How high is the demand for rental properties? 5. What is the average length of sale for a commercial property? 6. What are some selling features of this property? 7. What are some downfalls of the property? 8. What are some suggestions to make the property sell faster? 9. What are some other costs involved to sell the property? 10. When would be the ideal time to sell the property? 11. What is the market demand for a motel? 12. What is your estimated timeline for it to be on the market? 13. What price would you list the property at? 14. Why this price?

Thank you for your time and responses. The information you have supplied will help make an informed decision regarding the new business model for the Litchfield Motel, which will be compiled into a final feasibility report.

Feasibility Study Interview
Ms. Stephanie Schuette – Prospective Renter in the Litchfield area

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Goal: To learn about renter’s needs and desire’s when looking for a property to rent. Thank you for agreeing to participate in a feasibility study interview. I am currently researching the feasibility options for the Litchfield Motel. The current owner can’t sustain the Motel’s current business model without experiencing a deficit margin. The Litchfield Motel much change its business model, therefore the options being studied are: implementing cost-cutting factors, converting the motel into apartments, or selling the property. The purpose of this interview is to help provide information that will aid in making an informed decision based on the answers you provide and other research options. Your responses are highly valuable and greatly appreciated. Please feel free to contact me with any questions you may have.

1. How much are you willing to pay for monthly rent? 2. How long would you sign a lease for? 3. What do you look for in an apartment (examples: location, price, amenities, etc.)? 4. What kind of amenities do you look for in an apartment?

Thank you for your time and responses. The information you have supplied will help make an informed decision regarding the new business model for the Litchfield Motel, which will be compiled into a final feasibility report.

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