BMGT: HVAC - An Entrepreneurial Business Plan: Getting Started

HVAC in the Occupational Outlook Handbook

Occupational Outlook Handbook

Heating, air conditioning, and refrigeration mechanics and installers

The Occupational Outlook Handbook, published by the Bureau of Labor Statistics, a division of the United States Department of Labor, offers insights into pay, work conditions, job outlook, and state and local data.

What is a Feasibility Study?

A feasibility study is designed to determine if a business project is feasible or not. A feasibility study must demonstrate that your business concept is financially viable and whether further investigation is needed prior to beginning the business plan. Think of a feasibility study as the plan for the business plan. Information obtained for the feasibility study will then be worked into the business plan if the project is found to be financially viable.

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The Five Questions

The feasibility study should answer these five questions:

  1. Will it work or not?
  2. Is it profitable or not?
  3. What will it basically cost to fund/start?
  4. Is it worth doing?
  5. Is it worth devoting time and resources to a business plan?

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