A feasibility study template is a section structure, not a study. It tells you what to answer — market, operations, costs, risk — but the quality of the document comes from the evidence in each section and the honesty of the recommendation at the end.
This page sets out the structure I use, what belongs in each part, and how to fill it without turning the template into a formality.
What a feasibility study template contains
| Section | The question it answers | The evidence it needs |
|---|---|---|
| Executive summary and recommendation | Should this proceed? | The conclusions of the sections below |
| Concept and scope | What exactly is being tested? | Site, format, capacity, investment range |
| Market assessment | Is there demand at a price that works? | Segments, competitor prices, catchment logic, customer conversations |
| Technical and operational assessment | Can it actually be delivered? | Space, equipment, suppliers, staffing, licensing path |
| Financial assessment | Do the numbers survive? | Capex, operating costs, working capital, break-even, sensitivities |
| Risk and conditions | What would change the answer? | The three or four assumptions that matter most |
| Recommendation | What should the reader do next? | A decision, not a summary |
Seven sections is enough for most single-site ventures. Multi-site projects and regulated sectors usually need an additional section for planning, licensing or phasing.
The sections in order
1. Executive summary and recommendation
Write this last. One page, no more. It states what was tested, what the evidence showed, and which of three positions the study reaches: proceed, proceed with conditions, or do not proceed.
If a reader only reads this page, they should still know what to do.
2. Concept and scope
Define the thing being tested precisely: the location or catchment, the format, the capacity, the investment range and the time horizon.
A study that tests three business models at once tests none of them properly. If the concept is still moving, fix the version that will be tested and record the alternatives as open questions.
3. Market assessment
Work from the customer backwards:
- Who buys, in what segment, and how often?
- What do they pay today, and to whom?
- What would make them switch?
- How many can you realistically reach in the first year?
Top-down market figures are context. The number that matters is the bottom-up revenue the operation can actually reach. Where published data is thin, say so and explain the reasoning rather than filling the gap with a confident-sounding figure.
4. Technical and operational assessment
This is where most optimistic concepts meet their constraints:
| Question | Why it changes the numbers |
|---|---|
| Is the premises available, and at what rent? | Rent is usually the largest fixed cost |
| What fit-out and equipment are required? | Capex and depreciation |
| Which suppliers, at what lead times? | Working capital and stock risk |
| How many staff, at what skill level? | The second-largest fixed cost |
| Which licences and approvals are needed? | Timeline and cost before trading |
Licensing and permitting statements should be checked against the relevant authority's current published guidance, not recalled from memory.
5. Financial assessment
The financial section is a model, not a table of hopeful numbers. It needs:
- Capital expenditure, itemised.
- Working capital and the timing of cash.
- Operating costs, split into fixed and variable.
- Revenue built from volume, price and a ramp.
- Break-even in units and in revenue.
- Sensitivities on the two or three assumptions that most affect the result.
A single scenario is a forecast. A base case plus a downside case is analysis.
6. Risk and conditions
List the risks that would actually change the decision, with a mitigation for each. Then turn the biggest ones into conditions:
- the venture works if rent stays below a stated figure;
- it works if the supplier price holds for twelve months;
- it works if licensing takes less than a stated number of months;
- it works if the fit-out comes in within a stated budget.
Each condition is a negotiating instruction and a walk-away trigger.
7. Recommendation
Choose one of three positions and say it plainly:
| Recommendation | What follows |
|---|---|
| Proceed | Move to a business plan and a funding application |
| Proceed with conditions | Test the conditions before committing capital |
| Do not proceed | Stop, or change the concept and retest |
A study that ends with "further research is needed" has not done its job. There is always further research available; the purpose of the exercise is to decide with the evidence at hand.
How to use a template
- Fix the decision first. Write one sentence: this study exists so that [reader] can decide [decision] by [date].
- Fill the evidence column before the prose. For each section, list what you have and what you are assuming.
- Mark every estimate. Use a consistent label so a reader can see which numbers are quoted and which are judgement.
- Build the financial sheet before the summary. The recommendation depends on the numbers, not the other way round.
- Write the recommendation last. Then check that every earlier section supports it.
- Ask someone to attack the weakest assumption. If the study survives that conversation, it is ready.
Where a template stops being enough
A template cannot supply four things:
- Judgement about demand. It can structure the question but not answer it.
- Primary research. Site visits, intercept surveys and supplier meetings happen in the market, not in a document.
- A financial model. A template may include a table; a model lets a reader change an assumption and see the effect.
- A recommendation someone will act on. This is the part that requires an independent view.
The most valuable sentence in a feasibility study is often "do not proceed". A template will never write it for you.
Template, or commissioned study?
| Your situation | Template is enough | A commissioned study fits better |
|---|---|---|
| Internal decision, early stage, low capital | Yes, if you have the evidence | No |
| Bank or investor submission | Only if the format is accepted | Usually yes |
| Regulated sector or complex licensing | Rarely | Yes |
| Multi-site or capital-intensive project | No | Yes |
| You need an independent recommendation | No | Yes |
If you are unsure which side of that table you are on, the feasibility study service explains what a commissioned study covers. The difference between a feasibility study and a business plan is worth reading before you choose either.
Frequently asked questions
What is the difference between a feasibility study template and a business plan template?
A feasibility template tests whether a venture should proceed. A business plan template describes how a venture that has already been judged viable will be executed and funded. The sections overlap, but the feasibility document ends in a recommendation.
Can I use a template for a bank or investor submission?
Only if the institution accepts your own format. Many do, but check the current published requirements first and record the date you checked them. A template does not tell you what a specific lender expects.
How long should a feasibility study be?
Usually 15 to 30 pages for a single-site business. Length follows the complexity of the decision, not a page target. A study that reaches a clear recommendation in 12 pages is better than 30 pages that avoid one.
If you want to see how the sections look when they are filled in, the fictional feasibility study examples walk through four outlines. If cost is the open question, what drives a feasibility study quote covers the scope factors without publishing a fixed price.