Our Services
Our services typically go hand-in-hand with each other. For example, if you are a startup business, you will likely want a feasibility study conducted to determine whether your proposed venture can be profitable. However, a feasibility study typically includes market research to determine competition, product price points, and consumer demand, which may require the use of survey data. Further, a business plan can then be conducted based on additional input from your business regarding the finalization of product mix and price points.
Feasibility Studies
Our firm utilizes the USDA's format for our feasibility studies format, which is widely accepted and can be used with granting organizations, lending facilities, and other investor groups. This format has five components and consists of the following: economic feasibility analysis, market feasibility analysis, technical feasibility analysis, financial feasibility analysis, and management feasibility analysis. These feasibility studies can also be used in your applications for Value Added Producer Grants with the USDA.
Business Plans
If your business is already established and seeking government funding for expansion, or your company has a set of pre-determined enterprises you would like to pursue, our firm can create a business plan to determine your path forward.
Market Research
To conduct market research our firm collects information on the sales organization and management, nature and extent of market and market area, marketing plans for sale of projected output, extent of the competition, and commitments from customers or brokers. This work sometimes requires the use of surveys to determine customer interest and willingness to pay, or competitor price points in industries lacking in readily available data.
Survey Design
To conduct appropriate market research it is sometimes necessary to hear directly from the consumer regarding their opinion on a new product, service, or idea. Our team typically develops surveys using Qualtrics and then distributes them to a purchased sample that matches your company's desired target audience. In addition to utilizing Qualtrics' survey sample service, we can also develop a survey database if the target audience has contact information publicly available, or utilize a database that your company has already established.
Economic Impact and IMPLAN
To determine the economic impact from your operation, our firm utilizes economic impact multipliers from IMPLAN. The calculation of economic impact is an integral part of USDA feasibility studies and can also be included in feasibility studies for other uses, or on its own to help decision makers and community leaders determine the impacts created by a new business or industry.