A feasibility study assists an entrepreneur in determining the answer to the query.

Should I go ahead
with the proposed company idea or should I back out? Whether or not it is a viable business enterprise
remains to be seen. Typically, a feasibility study should be carried out in order to estimate the likelihood
of the idea becoming a successful business venture. If done correctly, it will act as a master plan for the
establishment or development of the firm, as well as the development of its products and services.

When evaluating the viability of an idea, the emphasis is on detecting potential difficulties. The study
seeks to answer one primary question: "Will the idea work, and should you proceed with it?"

Feasibility studies can be used in a variety of situations, although they are most commonly used to
evaluate potential commercial endeavors. Anyone who want to start a business is eligible to do so.