Leisure feasibility study

Feasibility studies occur at virtually every stage of an idea or concept. An important first step is to clearly define exactly what information you are looking for. Possible components of a feasibility study include:

• Desk Research
  Through desk research, Markteffect maps the competitive landscape (incl. USPs), market size, potential customers, etc. Depending on the information you seek, this is often tailored on an hourly basis.
  
  
• Entrepreneurial Assessment
  Do you, as an entrepreneur or company, possess the right competencies? Do you already have a track record or historical revenue figures that could assist with, for instance, bank refinancing? The approach here ranges from stakeholder interviews to financial projections for banks and investors. Markteffect gladly collects this data and compiles it into a compelling report.
  
  
• Market Research
  Insights from market research can strengthen your business case. This can be achieved, for example, through a feasibility study. Markteffect, among other methods, utilizes a consumer database of 230,000 Dutch citizens.

Types of market research and what are the benefits?

The research results from market research provide substantiation for your business case through concrete advice on the feasibility of your idea or project. A concept or idea can emerge in many phases. At Markteffect, we distinguish five phases:

1. Pre-concept phase

You suspect that there are opportunities in the market and would like to respond to them, but you are still uncertain about the exact wishes, needs, and expectations of the market. A needs assessment would be appropriate in this case.

2. Concept phase

You have an idea, but you don't know how to develop it further or which direction to take. Examples include testing a concept or conducting a stakeholder analysis.

3. Market potential phase

You have a concept and are unsure which market to focus on and what the potential reach is. This phase often involves Market exploration, segmentation research, and positioning research.

4. Product test

You have already developed a concept and defined your target group, but you still have no idea how many people will buy your product or visit your attraction (park). A product test could provide useful insights at this stage.

5. Financial feasibility phase

You have a clear idea of what your concept should entail, but you are still unsure about its economic feasibility. A spin-off and impact assessment could be a useful study in this regard.

Your insights after a feasibility study

Depending on your specific needs, Markteffect's support can provide insights into:

• What the opportunities in the market look like;
• How you can shape your concept and whether there is support for it;
• What are the factors for success and failure?
• What the expected return on your investment is;
• How to realize your concept.