- Feasibility Studies
Feasibility study consultants in South Africa and international markets.
- Feasibility Studies Explained
What Is a Feasibility Study?
The purpose is not to prove that an idea will work. It is to determine whether the available evidence supports the opportunity, identify what could prevent it from succeeding, establish how much capital may actually be required, and determine whether the project should receive a Go, Conditional Go or No Go recommendation.
JTB Consulting provides independent feasibility study services for startups, established businesses, corporate project sponsors and investors evaluating a wide range of strategic and investment decisions, including launching a new business, expanding an existing operation, establishing a new division or facility, entering a new market, developing a new product or service, committing significant capital expenditure, preparing for bank, DFI or investor funding, testing a project before developing the full business plan, validating an existing business plan or funding case, and determining whether a proposed investment should proceed at all.
The first question is not always: “How do we fund this?”
Sometimes it is: “Should we do it in the first place, and under what conditions?”That principle is central to JTB’s current feasibility methodology. Your independent DFS quotation expressly positions the work as an evidence-led assessment that determines whether the business or project should proceed, what must be addressed before funding and whether the commercial case warrants further development.
- Assessment
What does a JTB Consulting feasibility study assess?
JTB Consulting tests whether a proposed business, project, expansion or investment is commercially, financially and operationally viable. The objective is simple, identify the weaknesses before capital is committed or the funder finds them.
The precise scope is tailored to the project, but typically covers four core areas:
Market and Commercial Feasibility
We assess the industry, target market, customer demand, competitors, pricing, market opportunity and commercial assumptions supporting projected revenue, customer acquisition and the overall viability of the proposed project.
Financial Feasibility
We assess revenue potential, operating costs, CAPEX, working capital, funding requirements, profitability, cash flow, break even and the ability to meet financing obligations, testing existing projections where appropriate.
Operational and Implementation Feasibility
Operational and Implementation Feasibility We assess whether the project can realistically be implemented and operated, including capacity, location, infrastructure, suppliers, staffing, equipment, processes and critical operational dependencies affecting execution.
Funding, Risk and Project Readiness
We assess the proposed use of funds, funding logic, commercial and financial risks, regulatory considerations, information gaps and matters requiring resolution before implementation, investment or funder review and final project approval.
- The JTB Feasibility Decision
Go, Conditional Go or No-Go
Go
Conditional Go
No-Go
- Types
Independent Feasibility Study or Feasibility-to-Funding Engagement?
JTB Consulting offers feasibility studies either as a standalone assessment or as Phase 1 of an integrated Feasibility-to-Funding engagement.
Best suited where the immediate question is:
Should this project proceed?
The study independently tests the market, commercial, financial and operational assumptions before further capital or professional costs are committed.
It can be used where:
- no business plan exists;
- a business plan already exists and requires independent validation;
- a funder or investor requests feasibility evidence; or
- management wants an independent decision before proceeding.
- Two Phase Approach
For larger expansions, new facilities, capital projects and funding transactions, JTB can structure the work in two phases:
Phase 1 Independent Feasibility Study
Test viability, risks, funding requirements and key assumptions.
FEASIBILITY GATE GO • CONDITIONAL GO • NO-GO
Phase 2 Business Plan + Integrated Financial Model
Where the project supports a Go or viable Conditional Go, the validated findings are developed into the full funding and implementation case.
- Phase 1 asks Should we proceed?
- Phase 2 answers How should the viable project be funded and implemented?
A feasibility study determines whether a project should proceed. A business plan explains how a viable project will be funded, implemented, operated and grown.
For straightforward businesses, a business plan and financial model may be sufficient. For larger, uncertain or capital-intensive projects, feasibility should often be tested before the final business plan is developed.
- Feasibility Study
- Tests whether the opportunity is viable
- Challenges key assumptions
- Focuses on viability, risk and investment logic
- Can result in Go, Conditional Go or No-Go
- Often undertaken before major capital commitment
- Business Plan
- Explains how the business will operate
- Builds strategy around validated assumptions
- Focuses on funding, strategy and execution
- Generally assumes the project will proceed
- Used for funding, implementation and management
- Suitability
Who should commission a feasibility study?
A feasibility study is most valuable where making the wrong decision could result in significant financial loss, funding failure or execution risk.
The precise scope is tailored to the project, but typically covers four core areas:
Entrepreneurs and Startups
Testing market demand, pricing, capital requirements and business economics to validate commercial viability before launch.
SMEs and Established Businesses
Assessing expansions, new divisions, facilities, product lines, capacity increases and major capital investments.
Corporate Project Sponsors and Developers
Assessing high value projects independently for management, boards, lenders and investment committees.
Funding and Investment Applicants
Supporting projects where banks, DFIs such as the IDC, NEF or SEDFA, or private investors require stronger evidence of commercial viability.
International and Market-Entry Clients
Testing the viability of entering South African, African or other international markets before committing capital to a project.
- FAQ
Frequently Asked Questions
Does JTB conduct feasibility studies outside South Africa?
Yes. JTB supports South African and international businesses, investors and project sponsors requiring commercial, market and financial feasibility analysis.
How much does a feasibility study cost?
The cost depends on the project’s size, complexity, industry, available information, research requirements and the level of financial analysis required. JTB provides a defined scope and quotation after reviewing the project.
How long does a feasibility study take?
A typical JTB Desktop Feasibility Study is currently planned at approximately 25 working days from receipt of the required information. Complex projects or specialist research may take longer.
Can JTB conduct a feasibility study if I already have a business plan?
Yes. JTB can independently test the market, commercial and financial assumptions in an existing business plan without automatically rewriting it.
Do I need a feasibility study before preparing a business plan?
Not always. A separate feasibility study is particularly useful for larger, uncertain, technically complex or capital-intensive projects, or where a funder specifically requires feasibility evidence.
What is the difference between a feasibility study and a business plan?
A feasibility study asks whether the project should proceed. A business plan explains how a viable project will be funded, implemented, operated and grown.
What is a feasibility study?
A feasibility study determines whether a proposed business, project, expansion or investment is commercially, financially and operationally viable before significant capital or resources are committed.
- Should This Project Proceed?
Before committing further capital, establish whether the commercial and financial evidence supports the investment.
- Suitablity
Why choose JTB Consulting for a feasibility study?
JTB Consulting combines independent market research, commercial analysis, financial modelling and senior strategic judgement within one feasibility process.
Independent Conclusions
We are not engaged to prove that a project is feasible. We are engaged to determine whether the evidence supports proceeding.
Human-Led Analysis
No generic feasibility templates, predetermined conclusions or push-button AI reports. Technology may support the analytical process, but professional judgement remains central.
Integrated Commercial and Financial Analysis
Market demand, operating assumptions, funding requirements and financial viability are tested against one another rather than analysed as disconnected components.
- Testimonials
Our clients are very impressed. See what they have to say about us.
A feasibility study can help identify market, financial and operational risks before significant capital is committed. By testing the assumptions behind a project before launch, businesses can make better informed investment decisions and avoid costly mistakes.