I am curious to know how many people, if any, hired out professional services to conduct a feasibility study. And if they did, at what point did you have the study done? When you were looking for a business loan? Prior to start up? One friend of mine has the opinion that they are worth their weight in gold... if you`re looking for additional financing.
I am very interested to hear from people who have some experience with this.
This relates to my personal situation because we are working on an internet start up. We know the concept is sound, and that there is demand for it. We don`t need financing, we have more than enough to cover one year of operational expenses, plus an additional 25% cushion in the case of an emergency. Is it logical to hold off on a professional feasibility study until a later date in time? Say, when we need additional financing because the business is ready to expand?