Service feasibility analysis

The idea takes an advantage in the environmental trend the consumers especially the freelancers will
get excited about the idea because it’s reasonable and makes sense for the people who are looking for a
day or hour renting office. As we can see these days most of the people launch ideas and the number of
entrepreneurs is increasing, those people who are about to launch a new business or already has small
businesses are in need for these offices to held their meetings.

Office center characteristics

It is essential to understand what the factors which characterize office building itself are. Amongst those
factors the office location appears to be the most essential factor to analyze for developers, investors
and tenant to achieve their objectives. However, the locational issue doesn't make other factors become
unimportant as it interacts with its subsequent factors. Therefore, it is also important to examine the
transportation system available, office design, rental rates and other factors which contribute to the
overall success of the development.

 Location

The most important criteria affecting office development is the assessment of

a prime location. A prime location normally contains public transport system, other activities
such as shopping centers, hotels, etc., proven to have high demand, and have labor proximity.
Location to nearby freeways is an essential ingredient in all successful office parks. The
advantages include a savings in transportation, an expanded labor market, and an expanded
market area. So the location of this office center would be in ‘’BIEL BEIRUT’’ after a lot of
researches this place is perfect for such center and all the shops or the needs of a person are
available in this area from hotels to restaurants… and to mention the airport is also close to this
location so any person coming from abroad to a conference or meeting in this building would be
close to the airport and hotels.

 Offices design

The design should be regarded according to the fulfillment of the owner-occupier's specific need, while
developer is more concerned with its efficiency and effectiveness, and its market value. Naturally, the
developer wants to satisfy the functional space requirements of the broadest segment of the market.

It is common practice today that the office buildings are delivered to the clients in core-and-shell
condition in order to allow the tenants to fulfill their specific operating requirements, particularly in
terms of fittings. The building shell is defined as the buildings' fixed elements, such as floors, ceilings,
exterior walls and columns and some unfixed elements like desks, chairs for the small offices and for the
conference rooms a big table with chairs . The building core includes elevators, stairs, toilets, mechanical
chases, kitchens and so on. In office design, the essential point is to locate columns and the building
cores where they will least interrupt or conflict with layout. In the case of closed-office layout, it may be
desirable to locate the building core in the center of space in order to preserve window exposure for the
office. In an open layout, however, the core is usually better located away from the center so it does not
interrupt circulation patterns or user interaction and work flow.

The building is composed from 3 floors and an underground parking floor.

In the first floor we have a reception, a common area, cafeteria and a theater plus a service area.

the second and third floor are typical in each one we have 6 offices and 4 conference rooms plus a
service area.

 Amenities

In order to give a marketing edge over competitive projects, developers normally provide amenities
In their office buildings. These facilities such as convenience retail, professional and business services,
food service, transient lodging and conference/meeting facilities, are essential to attract tenants in the
trade area. Plus we will add transportation availability for people in need for the transportation to
attend the meeting and also in this center would be people providing all services the tenant need .

 Target market
The idea of this center doesn’t exist in Lebanon unless the tenant wants to rent for minimum a
month. So there’s no chance to find a similar center for a day or hour to rent in Lebanon.

The center office will be open in a place where all people can reach it so the target market of this
project will be first for the freelancers who works by their own and don’t have a place to meet their
customers or for the new entrepreneurs who are about to launch a project and need a lot of
meetings with many people, this place will be perfect for them. Besides these two targets this
project can be for all people who need to hold a meeting for any reason.

 Rental rates

Rental rates of office building depends highly on the location and condition Or age of the building. Most
rental rates are expressed in terms of cost per rentable square foot on an annual basis. The office space
is often referred to as Class A, B, C, or D.
Rental rates are a pertinent factor in the selection of office space. Even though
The market ultimately will set the rent actually paid but the tenants would also Consider which features
can be included in rental value. Once the base rate has been established for typical office space in the
Building, a specific rental schedule for each type of space must be developed.
Depending on its features, each office space is graded as above-standard, standard
Or below the base rate. The rental schedule will reflect variables such as height above street level, floor
location relative to elevators, interior layout and decor, natural lighting and view. For example, space
With a breathtaking view on the third floor would rent more than the same space overlooking a parking
lot or alley. Typically the higher the floor, the higher the rent, except in certain locations where ground-
Floor space is in demand and therefore costs more than the second floor space.
Market feasibility analysis

In the feasibility stage, a client's objectives need to be established in the first place. The building is not
the aim but the means by which a client's objectives may be achieved. The appropriate quantity
And quality of the areas for each space should be judged in conjunction with the client's needs. These
needs are the objectives of the building and each requirement or objective should state a function, a
quantity (usually an anticipated number of people likely to use the space), and a statement indicating
the quality of the space.The location basically will be in Beirut because it’s the perfect location for such
project to have access to all people to all jobs everything is available in this city also the project will be
next to a freeway so the transportation would be easy for people.

 Marketing program
The first thing which needs to be established is market segment or micro- market toward which
the project is directed. Market segment identifies and analyses the alternative customer groups
for targeting by an organization. Segmentation allows an organization to match its capabilities to
the requirements of customers. Accordingly, it is required to examine differences in needs and wants of
different groups of customers as the starting point of the marketing program. Office building users can be
segmented by those whose customers come to them versus those who go out to meet the
customer on his turf, those who linked to the court house or the financial district and those
linked to the suburban service base, those linked to production facilities and those closely linked
to merchandising area, and so on). Market survey will identify the type of customers by
distributing questionnaires to the potential customers. Another way to do this is by analyzing
statistical data based on location of the project. Consequently, the designer needs to consider
what will be used as an initial sales area, which units may serve as models, and whether the
approach zone to the project is a positive reinforcement of project image. The approach zone
should consider signs, entrance, paving, site development, and the visibility of positive project
amenities to the prospects arrivingon site by foot or by car. As was stated early on, a marketing
program could be a distinct discipline from design, but is in fact a significant portion of the pre-
architectural program, therefore in the feasibility stage it cannot be separated from design
qualification. While market analysis deals with elements beyond the control of the real estate
project entrepreneur (described as demand, competitive supply, and prevailing public attitudes)
economic feasibility and success ultimately depend on the crucial fit of product, price, and
merchandising appeal, all factors subject to development control, to the needs of a particular
customer group.
promotion

The promotion strategy will inform all the Lebanese freelancers, entrepreneurs and end users
about the available service. In order to do so, we will promote in different way to inform all
people.
- A big opening of course by inviting a lot of freelancers and entrepreneurs.
- Social media sponsorship informing about the opening and the business purpose.
- SMS sent to potential users.
- Ads in the lebanese magazines.
SWOT analysis
-strength: the first idea in the Lebanese market
 Attracts the freelancers and entrepreurs
-weaknesses: needs a lot of promotion
Time to get used to the idea
Lot of money to be executed
-opportunity: no old competitors.
New beneficial idea for some people
The idea is in need
-threat: future competitors
Switching some unused buildings to the same idea
 Organizational chart

perla melem
founder, CEO

marc zeghondy
co-founder, CFO

claudia abboud
co-founder operations and
marketing manager
Financial feasibility

 Component land value

The complexity of land purchasing procedures depends on the location of the office. The
acquisition of land in Central Business District involves substantial considerations, hence
involves some additional elemental costs. However, land acquisition costs normally consist of
land components such as land price, acquisition cost, legal fees, stamp duty survey fees, and
land holding costs such as statutory outgoings (e.g. council rate, land tax), and other costs
associated.