Initial Market Investigation - An initial market investigation is a general overview of a proposed project. The proposed project is analyzed within the context of the project’s current and future supply and demand balance, and the projected positioning of the client’s product offering. An initial opinion is then offered as to the potential success of the project. These studies are used to provide the client a "quick look" at some of the general implications of the project, without the expense of a full feasibility study that includes full documentation and financial projections. If a more in-depth analysis is required, then a feasibility study would be conducted to project the cash flows for the proposed project, thus providing the client with a warranted level of investment. If the initial market investigation warrants this further analysis, fees already incurred will be credited toward the price of the full feasibility study.
Market Feasibility Study - Prior to beginning the development of a project, understanding the potential financial viability of the proposed project will help ensure the greatest opportunity for success. Feasibility studies have become a critical component, helping the client to fine-tune the proposed product offering and to identify potential opportunities and/or hurdles in the development process. Further, a credible and impartial feasibility study is essential when attempting to secure financing and/or attract potential partners. While the study parameters will be slightly different for each type of project, the key elements addressed in these studies include:
Identification of the target market(s) for the proposed project
Assessment and documentation of the target market(s)
Documentation of historical performance of competing facilities
Trend analysis of the market and price points
Identification of potentially competitive facilities that are in planning or under construction
Recommendation of the most appropriate operating and fee structure
Estimation of the expense needed to construct and operate the facility
Projected market share
Projection of the cash flows from the project’s various revenue centers
Identification of the supportable level of capital investment that will allow the project to achieve its fiscal goals
Assessment and documentation of the target market(s)
Documentation of historical performance of competing facilities
Trend analysis of the market and price points
Identification of potentially competitive facilities that are in planning or under construction
Recommendation of the most appropriate operating and fee structure
Estimation of the expense needed to construct and operate the facility
Projected market share
Projection of the cash flows from the project’s various revenue centers
Identification of the supportable level of capital investment that will allow the project to achieve its fiscal goals
Independent Feasibility Study Review - If a feasibility study is completed by another firm and a second opinion is desired, our firm will review the study, check the assumptions, and provide a statement as to the general credibility of the overall document. Most importantly, our firm will ensure that any data or information that has been attributed is accurate and has been used in the correct context.
Feasibility/Due Diligence Research
Feasibility/Due Diligence Research
(Purchase/Sale)
Due Diligence Review - Acquisition/Refinancing - In today's market, the acquisition of existing facilities requires careful planning and knowledge of both the property under consideration and its market area. Our firm has worked extensively with various lending sources in their due diligence research of potential funding opportunities, for both acquisitions and refinancing. The present and future revenue generation and debt retirement potential of a facility can be determined only with a thorough understanding of the due diligence elements. Acquisition/Refinancing studies typically focus on general feasibility study issues such as market supply/demand analysis, in addition to such items as:
The physical condition of the existing facility
Historical cash flows and operational structure
Anticipated changes in the facility's operation
Competition in the marketplace
Historical cash flows and operational structure
Anticipated changes in the facility's operation
Competition in the marketplace
Facility Appraisal - To prepare hard-dollar estimates of the value of individual facilities, our firm will utilize the services of a qualified-market certified MAI (Member, Appraisal Institute) and the data generated in our custom market and financial analyses to provide a separate value appraisal report. These appraisals will rely heavily on our existing databanks for additional comparable cost information, as well as historical and estimated financial performance. Our appraisals strongly weight the Income Approach to Value. The deliverable for these appraisals will be a full narrative report including the stated estimate of value and all supporting tables, maps, photos and appendices.
Operational Review - For any existing facility, its operational structure and procedures can strongly impact the profitability of the individual profit centers and the entire operation. Our operational reviews may include, but are not limited to, analysis of the following components:
Individual profit centers
Clubhouse operations
Maintenance practices
Agronomic review
Fee structures
Membership/marketing plan
Needed capital improvements
Complete financial statement analysis
Management contract review
Review of lease/concession agreements
General operational procedures
Management alternatives and recommendations
Clubhouse operations
Maintenance practices
Agronomic review
Fee structures
Membership/marketing plan
Needed capital improvements
Complete financial statement analysis
Management contract review
Review of lease/concession agreements
General operational procedures
Management alternatives and recommendations
An operational review provides the client with an in-depth analysis of the facility's strengths and weaknesses. This information can be utilized as a strategic overview to improve your facility.
Facility Business & Marketing Plan Development - For any business venture, proper planning is integral to attracting investors and achieving financial goals. Toward this end, our firm will help prepare a complete marketing and/or business plan for any business venture. We also can review any existing business plan that has previously been prepared. These services will help you clearly communicate your business vision to any potential investor or lender, and will include a complete description of the subject business, the target market, its people, and a realistic estimate of financial performance.
Economic Impact Studies
Economic Impact Studies
Long-term investments often require regulatory approvals at several levels. In some cases the decision to approve a facility is in part based on its ability to strengthen the local economy. In these cases, the ability to demonstrate the impact that the proposed facility can have on the local economy is paramount to the decision making process.
As a complement to our market demand and feasibility study services, an economic impact analysis provided by our firm allows the client to understand and clearly quantify the expected economic impact derived from the construction and long-term operation of the project.
In addition to measuring the economic impact expected from the development of an individual project, our firm has conducted economic analyses that are much broader in scope. For some clients we have quantified the total economic impact of the industry on the state's economy. These studies include a detailed analysis of the following measures of direct, indirect, and induced economic impacts:
Construction – wages, benefits, materials, supplies
Employment
Output – gross sales revenues
Wages – payroll and benefits to employees
Value-added – compensation of employees, plus business taxes and property income
State and Local Taxes – on income, sales, and property
Multiplier Effect – chain reaction that ensues when initial contributions for goods, services, and wages multiply as expenditures and personal income pass through the economy
Impact on Real Estate Values
Visitor Impacts
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