Feasibility study analyses the market factors influencing the project and various demographic and economic attributes of the given market area. Special attention is given to the potential for future growth, the identification and analysis of existing and future competitive projects and their potential impact on the subject project, as well as evaluation of the project’s expected penetration on the local market. Time series projections of income and expenses are prepared and discounted to a present worth based on expected requirements of debt and equity. Financial models are developed to show most probable scenarios and estimate return on invested capital.