Share on Facebook Business plans and feasibility studies are analysis and decision-making tools used by companies. On the other hand, a business plan is developed only after it has been established that a business opportunity exist and the venture is about to commence.
I hope this few words have been able to point out the key differences between feasibility study and business plan.
While some say they are the same, others argue they are not. A feasibility study is all about business idea viability while a business plan deals with business growth plan and sustainability. Service or product line: State what you will sell or provide and describe the benefits of each.
Probability of Success: Can you reasonably overcome the risks to become profitable? Is your industry sector in a growth or decline period?