Essay on A Feasibility Study Of A Business Idea

830 Words Sep 22nd, 2014 4 Pages
In order to determine whether a business idea is viable many conduct a feasibility study. The feasibility analysis helps people conclude early on whether a business idea will not work, initially saving time, money, and heartache later. In this particular study, we are looking at Tom Patterson and his success with his clothing brand Tommy John. Tommy John undershirts solve the problem of frustrating boxy and baggy shirts. However, before Tom set to pursue his idea wholeheartedly, he took it in his stride to test the viability of his idea, making sure that his idea has legs, and this is ultimately the reason Tom achieves so much success with brand Tommy John.
Tom Patterson initially started off working as a medical device salesman, he had no prior experience or skill in the men’s clothing industry when he originally set out on his venture. Thus, to pursue his idea Tom had to learn everything about the industry, markets, customer spending habits, competitors, and such. Time, however, was not a factor in the entry into the market. After Tom was laid off from his job, he decided to pursue his idea fulltime after much consideration. From Tom’s research he learnt that a lot of these customers bought the brands they did because they did not really see the difference between alternatives, or simply because it had been the brand they have been buying for years. Additionally, from his observations Tom found out was that majority of the people buying men’s undershirts, were in fact,…

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