In all projects within the tourism and gastronomy industry, it is essential to conduct thorough economic studies before initiating any practical actions or investments. These studies should answer the following questions to enable investors, owners, and operators to make more informed decisions:
1. Is this project economically viable?
• Market analysis, competitor assessment, and demand evaluation can help determine the economic success potential of the project.
2. Will this idea be executed and turned into a business?
• Evaluating the feasibility of the idea and its alignment with market needs are critical factors to consider.
3. What is the required investment (initial, working capital, etc.) for the project?
• Analyzing costs, initial investments, and financial resources needed for daily operations is of great importance.
4. What is the timeline for design, construction, equipping, training, and launching the project?
• Estimating the time needed for various stages of the project aids in better planning and resource management.
5. Where is the economic break-even point for the project?
• Identifying the break-even point allows investors to understand when they can expect a return on their investment.
These studies not only help mitigate financial risks but also increase the likelihood of project success.
