How to Hire Someone to Write Your Business Feasibility Study
So you are looking at the somewhat daunting task of coming up with a credible investment or business feasibility study and you are looking to hire a professional feasibility study writer? Since we started writing business plans many years ago we have noticed that on a large scale business feasibility studies are becoming more and more important to investors or other potential stakeholders of larger scale operations. In this article, we will explore everything you need to know if you want to have a professional feasibility study writing service to help you out with the challenge of compiling a truly exceptional feasibility analysis.
First off, it is very important to realize what kind of feasibility study we are talking about. Sometimes also referred to as feasibility report, this piece of project documentation explains to the reader all aspects of the project’s feasibility. Feasibility means there is proof that lucrative operation can be launched and sustained in a variety of dimensions including but not limited to the technical aspects, the financial and legal aspects, the business and marketing aspects, or the environmental and social aspects of the operation. Different feasibility studies can have different degrees of depth depending on who is the targeted reader.
Why Hire a Professional Business Feasibility Study Writing Service?
The pure volume of a typical business feasibility study which can reach several dozen pages of texts and calculations in and of itself is a challenge to many enterprises in their different start-up and growth stages. The next issue is that feasibility studies include many very technical aspects. Not only technical in the regard of engineering or architecture which should have a corresponding expert in-house with the organization but also technical in the regard of business strategy and financial analysis. Not every organization has the capacity in its team to come up with the required documentation quality and may depend on a third-party professional purely for the sake of the knowledge that is prudent to have on board for the feasibility analysis.
Feasibility study writers usually have many years of experience in many different documentation and analysis areas including but not limited to business planning, pitch and financial planning, grant writing, prospectus writing and business development planning. All these fields of planning work together to enable the experienced feasibility study consultant to not only coach a client and through asking the right questions be fully briefed beforehand but also execute the actual work and come up with a stellar feasibility report that really meets the mark of the specified reader.
Professional Feasibility Study Writing Cost
Your typical professional feasibility study writer usually will calculate his fees based on your specific case and as such it’s hard to estimate for a general case. In certain terms, feasibility study writing falls into technical writing or business writing and includes financial analysis. On a basic level expect prices of about 80-120 USD per page for this kind of writing service depending on the difficulty that the concerning segment of the feasibility report entails. So, for example, writing general opening prospectus texts is easier than writing market analysis while doing calculations for the different scenarios of the financial plan are again a different task altogether and require different levels of proficiency in different areas of consulting and writing practice.
For the most general to slightly more complex business feasibility studies you can expect to pay around 4,500-12,000 USD. Some consulting houses will charge up to several ten-thousand dollars depending on the capital volume in question. If you are surprised at this budget keep in mind that some of it will be used by the consulting firm to pay other professionals who for example come up with architectural calculations, geologic analysis or 3D animations to construct the case of a feasible project.
If you would like to understand what makes the feasibility study more challenging, the following list contains a selection of factors which influence the budget required to come up with a professional feasibility study.
- ► What is the page volume required for the feasibility study? What is the written portion and what is the financial portion and what amount and sort of visuals are required to please and convince the recipients of the feasibility report?
- ► Are there already groundwork documentations available concerning the technical aspects of the feasibility study or do any draft work or financial calculations exist that could be used in the actual feasibility report?
- ► What is the deadline for the finished feasibility report? The usual amount of work required to come up with a professional feasibility study will usually lead to processing durations which can be up to a month! If you do not hire the feasibility study writer in time you might have to pay an express premium to meet your deadline, that is if there is a way at all to have everything ready before the due date
- ► On what kind of briefing and correspondence level do you need to be consulted by the feasibility study consultant? If you are able to organize and explain your thoughts and communicate in a concise and efficient manner you might be able to convince the professional that less budget is needed for coaching, consulting and communication, and so a better price is negotiable
- ► How technical must the business feasibility study be in order to convince your chosen study recipient? If there are a lot of very specific topics that is someone with the correct technical background can understand of course that will increase the budget required to achieve sufficient accuracy and depth for the feasibility study
- ► Do you require the physical presence of a feasibility study expert during the briefing or any other point of the process? It is relatively easy to find a professional feasibility study writer in the world but if you are looking for a local writer you might be having to compromise with a slightly or in certain cases significantly higher budget with sometimes little to no proof of track record and formal qualifications for this exact type of work.
- ► How much capital is invested and how big is the number of team members which contribute significant elements to the success of the project for which the feasibility analysis is written? A larger team, a larger operation in terms of funding or scale can sometimes mean greater complexity and so the feasibility study has to reflect that accordingly.
You can see that there are a fair amount of factors which make up the profile of any given feasibility study be it outsourced or be it created in-house. That is why you should approach us to obtain a quote on the exact feasibility study that you are looking to have written. We will also try to give you different options so that it should not be a problem for you to have the professional writing power that you need and the feasibility study hurdle will not mean a more serious obstacle to delay the success of your operation.
What are the Steps of Hiring a Professional Feasibility Study Writer
In the beginning, you will need to decide which of the many options you would like to take. It is possible to find a professional feasibility study expert on crowdsourcing websites, on specialized industry-related writing websites, in the yellow pages or among the business plan writers. Even at your local university or through the contact with the Chambers of Commerce, ads in the newspaper or Craigslist it is possible to find someone who can point you in the right direction or even qualifies directly.
Do compare different quotes and different conditions that should be made available to you as part of the prospecting by the different feasibility analysis experts. You will find that agencies and freelancers offer very different fees, with freelancers charging 30-50% less. However, with the more established feasibility study consulting firms you will have a greater chance to really obtain high-quality work and correction loops and other additional consulting perks are included. Even after years, you will be able to come back to the consulting firm and they will help you further develop any business intelligence resource that you need for your operation to evolve and prosper. A freelancer might already have moved on to a different occupation and will either not be able to answer your call or not be prepared properly to deal with many projects coming in from different sides. Issues such as satisfaction guaranteed and strict adherence to deadlines are other areas where larger consultancies tend to deliver with consistency.
The briefing process is definitely a very important step which follows right after the formal offer documents were accepted and the project is funded. Usually, a mix of a questionnaire and the exchange of the typical due diligence and team member profile documentation, as well as the study of online material and company corporate identity and brand books as well as calls and video conferences are the go-to instruments of a comprehensive briefing.
After three to five weeks depending on the volume of the feasibility study which can reach over a 100 pages of length in extreme cases (average length is 40-50 pages), the draft work is usually compiled and ready to be assessed and finalized together with the client. Sometimes feedback can come during the evaluation process and you will be able to make adjustments and amends which will give the feasibility study the final touches even months into the project.
BrainHive is Your Ideal Partner for Professional Business Feasibility Study Writing
Due to our broad spectrum of in-house capacities when it comes to business planning and prospectus writing as well as our different partners for other areas of feasibility analysis, we are able to offer very advantageous conditions for writing professional feasibility studies.
You can approach us anytime via email, over the phone or use one of our contact forms and we will be happy to help. Do not let yourself get lost in the wide array of different types of analysis required to compile a truly professional feasibility report. Let us do the work and there will be a lot of value beyond just having the pure planning documentation but also obtaining true instruments of business intelligence which will help you further grow and develop your organization.
What Our Clients Have to Say
BrainHive: Worldwide #1 in Business Plan Pricing
BrainHive: Essence of Business Planning
Contact us Today
Joachim Jacob Görbert, Director
Reach us 24/7 via
US & International: +1 (844) 434 96 92
Europe & Germany: +49 (0) 6192-703 41 53
Fast & easy: Have us directly calculate an offer for your business plan.
BrainHive is known through our publications in:
BrainHive Consulting is a registered vendor with Unidos, the intelligence and resource sourcing hub of the United Nations.
Frequently Asked Questions
- Documents required?
Here you will find answers for the most common questions concerning our business plan service.