Before setting up your service and deciding which service style to implement it is vital that you carry out a feasibility study, to help with the planning of a new project. The feasibility study will then help you to develop your business plan.

 

This investigation should cover:

Service concept

Is it commercially and financially viable

Finances

Market and Competition

Operational capabilities

Staffing Requirements

 

Business Planning

It is likely that you will fall into the business planning cycle of your institution and your service will form part of the Strategic Direction of the organisation as a whole. However at start-up you should look to cover the following areas:

 

Where are we now?	An analysis of the current situation of the marketplace, the competition, any historical information on the student employment sector
Where are we going?	Vision for the future, including objectives, targets
How do we get there?	Implementation plan, marketing, detailed financial breakdown of costs

 

It is likely that you will develop an annual plan for the business and may have to redevelop the Business Plan to justify any many changes in service or major equipment purchases.