A feasibility study should tell you whether to proceed

Too many of them are written to confirm a decision that's already been made.

If your restaurant feasibility study doesn't include at least one scenario where the project doesn't work, it's not a feasibility study. It's a pitch deck.

A proper assessment covers five areas. Market demand: is there genuine appetite for your concept in this location, at this price point, against this competitive set? Site analysis: does the unit work operationally, and what will it cost to make it work? Financial modelling: not just a P&L projection, but sensitivity analysis across occupancy levels, average spend and cost inflation. Regulatory requirements: licensing timelines, permits, alcohol regulations, if applicable. And an honest assessment of the operator's capability to execute.

That last one gets left out more often than it should. A concept can be commercially viable and still fail because the team behind it doesn't have the depth to deliver it.

In Dubai and the wider GCC, I'd add two more considerations. Seasonality is real, and your summer months will look nothing like your winter months. And lease terms here are structured differently. If your feasibility model doesn't account for rent payment structure and service charges, your cash flow projections are fiction.

Restaurant ROI is built on assumptions. The feasibility study is where you stress-test them.

What assumptions is your model built on?