Improving communities through sport

Learn How a Feasibility Study With Help You Start a Successful Facility

Person holding a feasibility study

Why a Feasibility Study is a Key Step in a Successful Facility

Perhaps the most under-appreciated steps business owners can take before venturing into a sports facility business is conducting a feasibility study. A feasibility study examines a number of variables and can reveal whether or not your project will profitable and reasonable to pull off based on your available resources. Assessing the risk of a project with a feasibility study allows you to go into a business venture confident that you can successfully turn your idea into a success. Today, SFA will discuss how a feasibility study will help you start a successful sports facility.

Attracting Potential Investors

A feasibility study and the subsequent report are most often used by those looking to obtain outside funding. The report is detailed enough to give investors a complete picture of your project while being brief enough to remain accessible. SFA will provide publicly funded clients with a report that includes studies on how your project will improve local recreation options, as well as your facilities ability to economically impact your community via sports tourism. It will also include cost-containment strategies to help you reduce the long-term impacts of debt payment or subsidies on the municipal budget.
Private clients will receive a report that includes information regarding business feasibility based on proven industry metrics for financial success as well as key performance indicators that can give you an idea what kind of performance you may experience.

Check For Legal and Regulator Viability

One of the major benefits of a feasibility study is checking to make sure that your business venture is legally viable. For instance, say a potential investor decides they want to start an outdoor hockey rink. A feasibility study may find that there are municipal rules against open-air ice rinks, saving the potential business owner from lost time and money. SFA could even recommend subtle changes to your business plan to make sure your business plan fits within municipal and state regulations while remaining economically viable.

Interested in Obtaining a Feasibility Study?

Contact SFA today to obtain a feasibility study for your next potential business venture. We have successfully helped hundreds of sports facilities move from idea to reality. If you would like to get expert advice for your sports facility SFA has the knowledge and the experience you can leverage into results. Contact us today at 727-483-7910 to discuss your business idea or to request a feasibility study for your business plan. Or if you already have a sports facility and are looking for help creating a more efficient business you can contact our management branch as well.

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