Business Feasibility Worksheet

form 96-12 (11-10) - State of Oregon - Employment Department - www.workinginoregon.org

This worksheet will help you organize the essential information about you and your business concept. Please answer the following questions as completely as you can. Your responses will be used to evaluate your potential for success in the SEA program. You are strongly encouraged to return this form to us as soon as possible due to the limited number of weeks that SEA participants are allowed to claim unemployment insurance benefits.

Please use a separate sheet of paper to answer the following questions:

BUSINESS OVERVIEW

  1. Describe the business you plan to start.
  2. Is this a new or existing business? Have you already registered your business with the State of Oregon?
  3. Detail the products and/or services you plan to provide.
  4. What’s your long-term vision for the business in 2-3 years?
  5. What short-term goals do you have for this business in the first year?

QUALIFICATIONS & SKILLS

  1. Describe your qualifications to operate this business successfully.
  2. Have you owned or operated a small business before (If yes, please describe)?
  3. What applicable skills and abilities do you have that will enable you to succeed in this business?

STARTUP COSTS

        VISIT http://www.csgnetwork.com/bizstartupcalc.html FOR STARTUP BUSINESS CALCULATOR

  1. How much do you estimate your initial investment will be to setup your business?
  2. How much o these costs will you be able to fund yourself?
  3. How much will you need from other sources?
  4. What external sources will you pursue for remaining funds you need?
  5. What is your current credit score?
  6. Have you filed bankruptcy in the last 7 years?
  7. Do you have personali assets you can use as collateral to secure a business loan?

FINANCIAL DUE DILIGENCE

        VISIT www.score.org/template_gallery.html FOR FINANCIAL TEMPLATES

        VISIT http://www.csgnetwork.com/bizstartupcalc.html FOR STARTUP BUSINESS CALCULATOR

  1. What’s your personal monthly budget for your portion of your monthly household expenses?
  2. How much monthly income will you need from the business to support yourself?
  3. Have you developed a preliminary budget for your business?
  4. How much do you estimate your monthly business expenses to be for the first 6 months?
  5. What level of monthly sales will you require to cover your monthly business expenses AND pay yourself?

LICENSING & REGULATIONS

        VISIT http://licenseinfo.oregon.gov/ FOR ONLINE SEARCH

  1. What licenses, permits, registrations, certifications, bonds, insurance coverage will be required for you to conduct business? Have you obtained these? If not, when will you? Explain in detail.

MARKET RESERCH

  1. Discuss the demand for your products. Where is your market? How do you know this?
  2. Describe your target customers (where they live, age, income, gender, etc.).
  3. Who will buy your products and services?
  4. What barriers for entry have you identified in this market? How will you overcome these barriers?
  5. What market research have you conducted to support your assumptions?

MARKETING STRATEGIES:

  1. What methods and strategies will you used to market your business to your customers?
  2. How much are you able to spend on marketing in the initial 6 months?
  3. How much have you budgeted?

COMPETITIVE ANALYSIS

  1. Describe your competition and how you will differentiate yourself from them.
  2. Why will your customers choose you over the competition?
  3. How will your customers access your products or services?
  4. How much control will you have over distribution?

RISKS & CHALLENGES

  1. What are the critical milestones to determine your success? How will you support them?
  2. What do you estimate will be your greatest challenges as a business owner? How will you meet these challenges?
  3. What, in your view, are the biggest risks associated wit this business? What steps will you take to mitigate these risks?