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Feasibility Study
You want to create a new product. You have a great IDEA and VISION. You wonder how to plan next steps. How to budget, and what pitfalls to avoid.
Whether it’s your very first product or another success story, our feasibility study is a step-by-step SOLUTION to reliably get your IDEA to MARKET!
Why do you need Feasibility Study
Right now you might have many questions.
WHAT IS THE BEST TECHNOLOGY?
HOW MUCH DEVELOPMENT WILL COST?
HOW TO PLAN AND DE-RISK PRODUCT DEVELOPMENT?
HOW FAST CAN WE DEVELOP IT?
HOW MUCH WILL THE FINAL PRODUCT COST?
HOW TO MAKE THE NEXT STEP?
To answer these questions and more, we offer the FEASIBILITY STUDY package
See how it works in overall project timeline
What's Included?
01. Specification
Every product starts with a great vision in the head of a founder. Vision needs to be described in detailed technical terms.
We create detailed Product Specification document that covers:
- Core functionality
- User experience
- Operating conditions
- External appearance
- Target pricing
- Certification requirements
- Lifetime and warranty
Detailed specification is a live document that aligns engineers, marketing team, and manufacturer to work towards same goal.
02. Development Options
As a part of Feasibility Study we explore several development options:
Build Custom Device
- Complete design and engineering according to specification.
- Build and test prototypes. Select Contract
- Manufacturer in preferred location to produce at scale
- Full control over the design and IP rights
- Control over manufacturing location
- Possible manufacture outside China
- Full control over software and data flow
- No MOQ
- Longer development cycle and higher dev cost
- Potentially higher per-unit cost
- Additional Certification fees and tooling costs
Source and Customize
Existing 3rd Party Solution
- Find similar solutions manufactured by factories.
- Negotiate customization to meet requirements.
- Factory produces customized product for you.
- Lower per-unit cost
- Faster development way to build hardware
- Lower total development cost
- Faster integration with standard software first and transition to custom software next
- Little or no additional certification cost
- Usually 1,000+ Minimum Order Quantity (MOQ)
- Tied to specific ODM manufacturer
- ODM owns most of IP, you own customized portion
- Data risks if using standard ODM software
We provide options and our recommendations what works best for the product. We work as your technical advisor to guide you through the process and select optimal development path from the start
03. Technology Proposal
Before detailed engineering work stars, we analyze key solutions required to meet product specification.
We create detailed Technical Proposal document that covers:
・Existing solutions on the market
・System architecture
・Key components and how they are selected
・Important design decisions
・System block diagram
・Core components list
・Product cost estimate
Specification is what we want to build.
Technical proposal is how we build that.
04. Product Design
Seeing is believing. We help you visualize your vision
・We translate engineering requirements into beautiful visualizations.
・We start with 5-10 design ideas, shortlist 2-3 best options, and prepare high quality 3D renders
・Starting from pencil concepts for shape and form exploration to colorful 3D renders, we deliver visuals to convey design vision to customers, investors, and partners. And yes, our designs regularly get recognition of main design awards.
・You may use them for marketing and fundraising
・We start with 5-10 design ideas, shortlist 2-3 best options, and prepare high quality 3D renders
・Starting from pencil concepts for shape and form exploration to colorful 3D renders, we deliver visuals to convey design vision to customers, investors, and partners. And yes, our designs regularly get recognition of main design awards.
・You may use them for marketing and fundraising
05. Technologies and Components Selection
・What wireless interface is best?
・What battery is required to provide enough battery life?
・How to make it portable and small?
06. Cost estimate
・Final product cost breakdown (per unit cost)
・Startup expenses estimates (fixed expenses)
07. Weekly calls
We share progress and discuss technical findings on weekly calls.
・We brainstorm ideas
・Establish project goals
・Present solutions
・Review proposed designs
and more
Feasibility study is like having a technical co-founder and program manager for your company
We Prepare for Next Steps
IoT product development process
Feasibility study
- Solution research
- Product Specification
- Component selection
- Early industrial Design
- Cost estimate
Proof of concept ”Work like” prototypes using development kits
Early customer feedback
Prove Core Technologies
2 - 3 months
Engineering Validation
- Detailed engineeing
- Industrial Design
- Electronics development
- Embedded firmware
- Mechanical design
Engineering samples using rapid prototyping, 10 - 50 pcs
Customer Beta testing
Pre-compliance testing
Second iteration, if needed
EVT
Engineering Samples Meet Specs
5 - 6 months
Design Validation
- Select Manufacturer (CM)
- Design for Manufacturing
- CMF (Color, Materials, Finishing)
- Electronics design ECO
- Firmware / Software finalization
- DFM for Mechanical parts
Tooling for Mechanical parts CM does product prototyping using tooling, 50- 100 units
Compliance tests (FCC, UL, CE)
Deliver samples to beta testers
DVT
Pre-Production Samples Ready
4 - 5 months
Production Validation
- Supply chain optimization
- Final tooling for all parts
- Prepare Functional tests
- Create test jigs
- Fault and yield review
- Order parts for first batch
Setup manufacturing process CM applies mass-production techniques, 500 - 1000+ units
Final compliance tests
Deliver product to early backers
PVT
Production Process Validated
3 - 4 months
AJProTech Reviews
Dave Asprey, 40 Years of Zen
Founder & CEO
EEG Device
I worked with AJProTech to implement a ruggedized version of a brain-reading device. That was a lot of work to do! Working with the team has been a dream. What I found was they were easy to work with, they got it done fast, and it works. I'm using this on billionaires to read their brain waves and make their brains better. Thank you, AJProTech!
Jessy Easdon, WIN Reality
Director of Technology & Innovation
WR Tracker
Last year, we partnered with AJProTech, and it has been a great decision for us. One of the big highlights is the knowledge they bring in any industry. Another significant aspect of our collaboration is the development of multiple products that we plan to introduce to customers in the next year or two. We are really excited about the connection and assistance AJProTech has brought.
William Cliff, Asesso Health
Founder & CEO
Dental Health Device
The experience, along with the collaboration between the
two
of us, has been exceptional. It has been brilliant, beautiful, and precise, all
at a
very reasonable cost. The budget has been on point, so you can't go wrong.
Troy Anderson, Sound Oasis
President, Headwaters Inc.
Sleep Therapy Device
I'm very happy working with AJProTech. They have very deep base of skills and experience, are very organized, and produce high-quality work.
Kayla Austin, My Gun's Been Moved
CEO and Founder
The Smart Pad
We've had the pleasure of working with AJProTech, Alex, and his team on this product. When we got our feasibility study, it was very clear how thorough AJProTech's team was, and we ultimately decided to move forward with them. Through working with this team, they are very thorough, and they ultimately keep the consumer experience at the front of everything that they do design-wise. It truly has been a pleasure to work with them.
Dawn Robinson, Meloscene
CEO
Music creation platform
Working with Alex and the AJProTech team was a wonderful experience — they were methodical, proactive, and set clear expectations from the start. We were so taken care of throughout the feasibility study and prototype development, and the process was highly creative and truly collaborative. The final deliverable was better than we imagined, and we’ve been delighted working with them and trust them completely.
Frequently Asked Questions
What Is the main idea of a Feasibility Study at AJProTech?
The main goal of the Feasibility Study is to identify the most practical path forward, avoid unnecessary costs, and define clear, detailed requirements for the device from the start. In many cases, whether an idea is technically possible becomes clear within minutes of discussion. Our team quickly evaluates how the concept aligns with existing technologies, budgets, and constraints, helping founders understand whether their idea can realistically be built.
What is a Feasibility Study example?
A practical example of a Feasibility Study at AJProTech could be the evaluation of a new product development project. For instance, if we plan to develop a new IoT device, a Feasibility Study would analyze market demand, technological requirements, cost estimates, potential revenue, and legal implications. This comprehensive assessment helps us decide if the project should proceed to the next stage.
What Are the Key Points of a Feasibility Study?
At AJProTech, a comprehensive Feasibility Study includes several key points:
- Technical Feasibility: Can we build it with the current technology and resources?
- Economic Feasibility: Is it financially viable?
- Legal Feasibility: Are there any legal obstacles?
- Operational Feasibility: Will it function effectively within our organization?
- Market Feasibility: Is there a demand for this project in the market?
- Schedule Feasibility: Can we complete it within the desired timeframe?
How Do You Explain the Feasibility of a Project?
Explaining the Feasibility Study at AJProTech involves presenting a detailed analysis of the project's viability. This includes outlining the objectives, conducting a thorough assessment of resources, costs, and benefits, and addressing potential risks. The explanation should highlight why the project is practical, sustainable, and beneficial for the company.
What Is the Most Important Part of a Feasibility Study and Why?
At AJProTech, the most important part of a Feasibility Study is the financial analysis. This section determines whether the project is economically viable by evaluating costs, potential revenue, and return on investment. Without a solid financial foundation, even the most technically feasible project may not be sustainable in the long run.
Is Feasibility Study Costly?
The cost of a Feasibility Study at AJProTech varies depending on the project's complexity and scope. While there is an investment involved, conducting a Feasibility Study is crucial as it helps prevent costly mistakes in the future. It ensures that resources are wisely allocated and increases the likelihood of project success.
How to Conduct a Feasibility Study?
Conducting a Feasibility Study at AJProTech involves the following steps:
- Define the Project: Clearly outline the project objectives and scope.
- Research and Gather Data: Collect relevant information and data on market conditions, technical requirements, and financial aspects.
- Analyze the Data: Evaluate the technical, economic, legal, and operational feasibility.
- Identify Potential Challenges: Assess risks and develop mitigation strategies.
- Prepare a Report: Summarize findings and provide recommendations based on the analysis.
- Review and Refine: Review the study with stakeholders and refine it based on feedback.
When to Conduct a Feasibility Study?
At AJProTech, a Feasibility Study should be conducted before committing significant resources to a project. This typically occurs in the early planning stages when the project idea is being evaluated. Conducting a Feasibility Study early on helps ensure that the project is viable and aligns with the company’s strategic goals before proceeding with development and implementation.
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