Feasibility/Market Studies

Feasibility/Market Studies

The feasibility study is one of the most misunderstood aspects of developing a piece of ground. Yet, it is perhaps the most important step as mistakes at this early stage can permanently handicap the project's performance, perhaps fatally. A good feasibility study is more that just a set of financial projections. Done properly, it becomes the market-driven strategic plan that is the road map for all subsequent decisions. 

SCHAEFER’s feasibility program uses a proven and thorough methodology of site inspection, field work, competition analysis and geo-demographic and geo-lifestyle cluster analysis combined with our experience, knowledge and research. Our feasibility study is divided into two different phases: Market Feasibility & Economic Feasibility.

PHASE 1 - MARKET FEASIBILITY STUDY

During this phase we will inspect the surrounding community, identify existing competition and determine primary and secondary market areas based upon drive times, competition, patterns of travel and shopping, natural or psychological barriers, and other market area influences appropriate to your needs. Geo-demographic and lifestyle cluster market area data, including five-year population projections, will be obtained and analyzed. A written summary of the market analysis will be provided at the conclusion of this phase, which will contain:

  • Identification of market areas 
  • Definition and character of the market area population including demographic, lifestyle clusters and socio-economics
  • Breakdown of population into appropriate segments to determine potential users
  • Estimates of the number of customers appropriate for the proposed project
  • Identification and impact of other competitive recreation / entertainment activity
  • Recommended strategic direction for development and recommended project mix 


A discussion will then be held with you to reach a decision of the strategic direction before concept design work commences.

PHASE 2 - ECONOMIC FEASIBILITY STUDY


This is when the recommended nature of the project will be refined and a conceptual physical plan of the project developed. Included in this study will be: 

  • Recommended facility size
  • Conceptual floor plan / exterior appearance
  • ADA compliance inside and out
  • Conceptual plans to permit preliminary construction estimates

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Feasibility/Market Studies