Feasibility Study
Feasibility Study
Joseph Helm
OMM 614
Dr. Carl Proehl
September 28, 2013
Feasibility Study For a successful entrepreneur conducting a highly detailed feasibility study prior to entering into a new venture cannot be stressed enough. A feasibility study is an analysis of a proposed venture that includes extensive investigation and research which is used to support the viability of the venture. The amount of time and research that goes into a feasibility study can save an entrepreneur from making big financial mistake. Feasibility studies can also provide an entrepreneur with important information allowing for the anticipation of future problems along with appropriate corrective actions. This process will be demonstrated by examining my own feasibility study. This study is planned around a small scale startup utilizing minimal capital for what I believe is necessary for this venture to be successful. While using my cash on hand I am more interested in attempting to seek out venture capital, partners, and investors rather than committing to a small business loan. The product of interest is an establishment similar to Dave & Buster’s which will be located in Biloxi, Mississippi. Both new and retro arcade games, along with various types of vending game machines, will offer fun experiences. Food and alcohol will be sold in a restaurant style atmosphere. Arcades serving alcohol are limited to Chucky Cheese and two bowling alleys in this area. In 2005, Hurricane Katrina destroyed the few establishments offering a similar atmosphere. Hurricane Katrina appears to have caused unnatural development of the Gulf Coast area. The closest Dave & Buster’s is eight hours away from Biloxi, Mississippi. Biloxi is a casino town located on the Gulf Coast. The next nearest establishment that is similar is in located in New Orleans, Louisiana over an hour away, the establishment is called
Joseph Helm
OMM 614
Dr. Carl Proehl
September 28, 2013
Feasibility Study For a successful entrepreneur conducting a highly detailed feasibility study prior to entering into a new venture cannot be stressed enough. A feasibility study is an analysis of a proposed venture that includes extensive investigation and research which is used to support the viability of the venture. The amount of time and research that goes into a feasibility study can save an entrepreneur from making big financial mistake. Feasibility studies can also provide an entrepreneur with important information allowing for the anticipation of future problems along with appropriate corrective actions. This process will be demonstrated by examining my own feasibility study. This study is planned around a small scale startup utilizing minimal capital for what I believe is necessary for this venture to be successful. While using my cash on hand I am more interested in attempting to seek out venture capital, partners, and investors rather than committing to a small business loan. The product of interest is an establishment similar to Dave & Buster’s which will be located in Biloxi, Mississippi. Both new and retro arcade games, along with various types of vending game machines, will offer fun experiences. Food and alcohol will be sold in a restaurant style atmosphere. Arcades serving alcohol are limited to Chucky Cheese and two bowling alleys in this area. In 2005, Hurricane Katrina destroyed the few establishments offering a similar atmosphere. Hurricane Katrina appears to have caused unnatural development of the Gulf Coast area. The closest Dave & Buster’s is eight hours away from Biloxi, Mississippi. Biloxi is a casino town located on the Gulf Coast. The next nearest establishment that is similar is in located in New Orleans, Louisiana over an hour away, the establishment is called
References: Katje, C. (2012). Long-term investors should play with dave and buster 's ipo. Seeking Alpha, Retrieved from http://seekingalpha.com/article/904871-long-term-investors- Biloxi market analysis. (2013, September). Retrieved from http://www.biloxi.ms.us/marketanalysis/ Nixon, N. (2013, Sept 12). How to start an arcade business. Retrieved from http://smallbusiness.chron.com/start-arcade-business-2084.html Hisrich, R.D. , & Shepherd, D.A. (2010). Entrepreneurship (8th ed.). New York, NY: McGraw-Hill Irwin