Feasibility Study Services in Dubai
It is necessary to know whether a business is feasible or not. Getting started without having an idea about the results and consequences is like leaping in the dark. A business feasibility study is recommended before you start your business so that your investments do not go wasted.
We not only conduct a business feasibility study in Dubai but also anywhere in the UAE. Along with the feasibility analysis, we also provide you with consulting on how you should set up your business in the UAE to make it successful.
In our business feasibility study report, we mention the issues that may arise during the business journey. Besides that, we also add possible solutions to them. In the end, we provide you with a brief regarding the profitability of the business to help you with your go or no-go decision.
Elements of a Feasibility Study
A feasibility study comprises many elements. Conducting a business feasibility study in UAE requires paying additional attention to the facts particular to the nation. Before we conduct a feasibility study, we take the local laws and regulations, economy, market behavior, banking system, target customers, technical know-how, infrastructure, and many other factors into consideration.
For each element, dedicated time and research are allotted. Based on that, separate conclusions are drawn. These conclusions are combined to give the overall result of the business feasibility study.
The first step is to understand your business goals. We learn about your business idea, the services and products, and how you plan to serve your customers.
As per the project overview, further research is conducted. The project overview decides the target market, channels to reach them, the scope of the business, etc.
In a market feasibility evaluation, we go in-depth to learn about your potential customers and your competitors’ businesses. We understand the various business models of similar businesses, go through their products and services, and compare them with your business’s features and pricing.
Moreover, we learn about the current market standards and prospects. Keeping all the necessary factors into consideration, the sales estimate is calculated.
In this element of the business feasibility study, market supply analytics is also included. We examine current trends and demand. Accordingly, the change in demand over a period is identified.
The technical feasibility of business includes the services and products you would require to start and develop your business. It includes labor requirements, raw material needs, office location and other attributes, technological needs, etc.
Under this feasibility study, we find out the best suitable location for your office. We also check out that it fits your budget and contains all the necessary attributes. We provide you with the best advice on the technical products you require. Also, we create a list of necessary employment posts and skillset required.
A financial feasibility study contains a review of all the monetary requirements such as funding, types of funds, cash flow forecasts, etc. The main motive of conducting financial feasibility is to learn about the business’s commercial profitability. Also, it helps to generate a profit and loss statement for a selected period. We can know about the continuous change in profit and loss through graphical representation based on various financial factors.
Moreover, there are a few financial factors, which we calculate based on assumptions and the current market situation:
- Net Present Value
- Return on Investment
- Return on Equity
- Annual Recurring Revenue
Under this, we find out whether the business model you suggested fits with the UAE laws and regulations or not. There are multiple legal frameworks available in the UAE for an organization’s structure. We need to check if it is possible to accommodate all your needs under one legal framework or not.
Our Feasibility Study Process
The first task is to understand your business goals and the purpose of conducting the feasibility test.
To move ahead with the business feasibility test, it is necessary to define the value proposition. All the studies related to your business will be conducted, keeping the budget into consideration.
After learning about your goals and budget, we move forward with your legal framework requirements.
When these three major factors are known, we select the market research methodology suitable for your business.
After conducting the market research as per the selected methodology, we perform analytics related to various aspects. These aspects include competitors’ performance, customers’ behavior, legality issues, changing trends, etc.
We calculate the costs related to setup, marketing, distribution, maintenance, and development based on the analytics.
Various operational details will be provided in the business feasibility study report, including an estimate of costs and benefits
After submitting the business feasibility report, we discuss it with you at length, and if any further information is required, we will include it in the report in no time. In case of any doubts or advice, we can conduct a meeting and decide the best for your business.
Advantages of Our Business Feasibility Study
- We provide you with a realistic idea of the business. It will help you to validate your idea in accordance with the market. Eventually, you will be able to know where and how to make an investment.
- You will become aware of your target market and how the customers are expected to reach your product or service after it is launched.
- The business feasibility study will warn you about the risks you may face during the company’s setup and development. After a business feasibility study, you can get the time to prepare yourself for the risks involved.
- The feasibility study report gives a better vision to your business by defining the path. That will help you appear credible in front of investors. Therefore, the study will also support you in raising funds for your business.
Why Choose N R Doshi and Partners?
Why Choose N R Doshi and Partners?N R Doshi and Partners have top-notch experience in conducting a business feasibility study and preparing business feasibility report. We have advisors, auditors, CPAs, CAs, and forecasting specialists in our business feasibility team.
Our experience comprises conducting a business feasibility study for multiple sectors. It has widened our industry knowledge and has given us a deep understanding of the UAE market. The benefit of this knowledge will be reflected in the business feasibility report, which will be delivered with high accuracy and keeping all the facts into consideration.
Our aim is not limited to providing you with a business feasibility study report. If we discover that the business looks promising and the feasibility report comes positive, we can handle many aspects for you.
After the feasibility study, you can reach out to us for conducting the company formation. After your company gets started, we can take care of accounting and tax-related requirements. Further, we can regularly conduct an internal audit to check the efficiency of your business processes. Therefore, N R Doshi and Partners is a one-stop solution if you are looking for a partner who can help you start and develop your business.
Our Strength
- We are experts in business feasibility studies, and we deliver highly personalized reports based on clients’ requirements.
- As we are dealing with many clients in the UAE, we know the market, people, culture, technical and economic scenario.
- Our team is one of the primary strengths. In addition to the technical expertise, they also take care of the ethical values and aim to deliver top-notch work.
FAQs
What is the cost of a business feasibility study service?
A business feasibility study’s cost varies as per the scope of work, how much consultation is required, and the kind of fieldwork required. We will provide you with a better quotation after you reach out to us with your requirements.
How many days will it take to conduct the business feasibility study?
It depends on the sector. Some of the sectors require a huge amount of competitor research in comparison to others. In addition to that, the number of aspects, which we need to deal with also varies with sectors.
Will there be any non-disclosure and confidentiality agreement?
Yes, we do sign non-disclosure and confidentiality agreements. Please be assured that your ideas, business model, and concepts will remain safe with us.
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