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Feasibility Study
PAGE 2
Making Your Feasibility List of Issues
Let’s add the obvious to your list: Land, Water, Population, Local Laws (zoning and others), Employee Base, Vendors, Local Politics, Weather Trends, Money, and let’s just categorize the rest as “Other” for now. (You don’t want all of your factors on your plate at the same time; it might spoil your appetite for getting things done!)
The word, feasible, can often be confusing to people. In fact, some of its synonyms are better descriptive terms of a feasibility study, but they don’t sound as tasty. For example, they're called possibility studies, realistic studies, and even sufficiency studies. Some sound even more out-of-this-world tasty: viability study and practicability study. All of this can be translated to a question or an issue that all feasibility studies address. In your case, it might be the following: “Can an Ordinary Water Park be Opened on _________, 200_ and Succeed in _____________ South Carolina?”
From this very basic question, we move to your list and other questions.
How much land is needed to open an ordinary water park?
No guesses or estimates allowed. You need to know if you can pay for the land before you begin to water your other ideas. Here’s where your research begins, and at this point, I'd make a very strong suggestion: Work over-time at having an open mind.
It’s only human to have such a belief in what you're doing to overlook things (that darn subconscious mind can get you), because you don’t want any negatives. This is dangerous to a feasibility study. Keep an open mind at the two most important stages of the feasibility study. They are when you create your list and when you research your topics.
Staying with the land, let’s now move to what types of issues you need to include. Keep in mind that an “issue” isn’t a negative; it's merely an element that of necessity is addressed in your study.
- What is the footprint of your water park?
- Does the construction of pools require any special gradients or types of land?
- Can the land be close enough to allow for easy travel by your customers?
- Are there other attractions, natural or otherwise, that would benefit your water park if you were close by?
These all could be issues addressed in your study, as well as other considerations. continued
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