Question

To what degree would Rent the Runway be a different company today if Hyman and Fleiss had not conducted a feasibility analysis? Do you think the business would be as successful as is currently the case? Run The Runway - Entrepreneur

Answer 1

Feasibility analysis is important to understand the viability of a business idea. It involves assessment of all aspects - legal, technical, financial, economical and so on. Once it is ensured that the project can justify all these aspects, does it make sense for the project to be invested in. Rent the Runway had a proposition for business, and they did their due diligence on these areas well. They could, thus, raise the requisite funds, and get best minds to expand their business idea.

If feasibility analysis was not done, the company would not have been able to assess demand, price and customer sentiment for their product offering. RTR has been a huge success, which can be owed to its customer value proposition, go-to market strategy, technological interface and operational management.

In my opinion, the detailed cost feasibility analysis, and marketing strategy is key driver to RTR's position that it holds today.