How do I conduct a feasibility study?

How do I conduct a feasibility study?

Feasibility study concept:

A feasibility study is the process of analyzing a potential project with the aim of predicting whether the project is suitable for the market and its estimated cost or not. The feasibility study also helps to ensure that the project will return a profit to the merchant.
How does a feasibility study affect an investment project?
A feasibility study is the first step for any project because it helps to identify the project’s needs for resources and costs. It also helps to develop well-thought-out plans to establish the project with the aim of achieving the highest return on profit. In addition, it spares the merchant the losses of starting any project without knowing whether the idea is feasible.