First we carried out a market assessment proving that our solution solves a real problem for honey packers. To this end, market size, market forecast, market segments, market drivers and barriers, penetration rates, competitors, opportunities and recommendations on strategies and positioning were studied. Then, based on this market assessment we carried out a technological feasibility study proving that our solution can be scaled-up and customized to the particular honey production rate of each particular honey packer. To this end, Cost-Benefit Analysis, payback period for each market segment and retail price of our solution were studied. Based on the market assessment we also carried out an economic feasibility to estimate revenue projection proving the profitability of this new business venture.
Feasibility Study was completed with positive results so a complete Business Plan was elaborated including operational and financial plan, risks study (technical and business related), IPR issues assessment and potential exploitation routes to reach European market.