4,000+Engagements Completed1,300+SBA Studies Accepted by Lenders950+USDA Studies in Agency Financing$43.8BProject Value Evaluated1998Feasibility Consultants Since
Wert-Berater, Inc. — Independent Feasibility Study Consultants
Choosing a Consultant · Experience, Credentials & Value

Why Choosing a Feasibility Study Consultant Based on Price Alone Is a Costly Mistake

Experience, professional credentials, independent research, and analytical quality matter when millions of dollars are at stake.

By Donald Safranek, MSc, President · Wert-Berater, Inc. · Independent Market Intelligence & Feasibility Advisory · Since 1998
Experienced feasibility study consultant reviewing financial analysis and market research
A senior consultant and business owner reviewing financial projections, market research and a commercial development. Illustrative generated photograph; not Wert-Berater staff, clients or an actual client project.

When searching for a feasibility study consultant, many business owners, developers, investors, and borrowers begin with the same question:

How much does a feasibility study cost?

Price is certainly a legitimate consideration. Every business wants to manage expenses, and no one should pay more than necessary for professional services.

However, when the purpose of a feasibility study is to support a bank loan, SBA financing, USDA financing, an investment decision, a commercial real estate development, or a major business expansion, selecting a consultant solely because the quoted price is the lowest can be a costly mistake.

A feasibility study is not simply a report that describes a business, lists competitors, presents population statistics, and produces a financial projection.

It is an independent analytical assessment of whether a proposed investment has a reasonable economic and financial basis.

The quality of that assessment depends on the experience of the consultant, the qualifications of the people performing the work, the credibility of the research, the financial modeling methodology, and the ability to identify risks that may not be obvious to the borrower or developer.

A low-cost report may appear to save money initially. But if the analysis is incomplete, the assumptions are unsupported, the market research is inadequate, or the report cannot withstand lender or investor scrutiny, the initial savings may be insignificant compared with the cost of delayed financing, additional consulting work, redesigning the project, or proceeding with an investment based on inaccurate assumptions.

The question should not simply be what a feasibility study costs. The question should be what the quality of the study is worth relative to the investment being evaluated.

Wert-Berater, Inc. has provided independent feasibility studies, market research, financial modeling, and investment analysis since 1998. Our approach emphasizes documented experience, specialized analytical capabilities, independent research, and professional accountability.

Key takeaway. Compare what each proposal actually includes — who performs the work, their verifiable qualifications, the independent research, the financial modeling and downside testing, and who takes responsibility for the conclusions — before comparing fees. For the credential-verification side of this decision, see How to Verify Feasibility Study Consultant Credentials and Experience.

1. The difference between a cheap feasibility study and a professionally prepared feasibility study

Not all feasibility studies are created equally.

Two consulting firms may advertise the same service and quote dramatically different fees. Both may call their product a feasibility study. However, the actual work performed may be very different.

Consider the following comparison.

Limited study compared with a comprehensive professional study
Analytical componentLimited or low-cost studyComprehensive professional study
Market researchGeneral published statisticsProject-specific market research
Demand analysisBroad population estimatesDemand generators, market sizing, and supporting calculations
CompetitionBasic competitor listingCompetitive supply, capacity, pricing, and market positioning
Industry researchGeneral industry descriptionIndustry-specific operating and economic analysis
Revenue projectionsBorrower estimates or simple growth assumptionsIndependently tested revenue assumptions
Operating expensesBroad estimatesDetailed expense modeling and benchmarks
Financial projectionsBasic spreadsheetIntegrated financial model
Debt serviceMay be omitted or simplifiedDebt-service coverage and financing analysis
Sensitivity analysisLimited or absentMultiple operating and financial scenarios
Development costsBorrower-provided budgetCost review and consistency analysis
Risk assessmentGeneral narrativeIdentified risks, quantified impacts, and mitigation
DocumentationLimited supporting referencesDocumented sources, assumptions, and calculations
Professional accountabilityUnclear authorshipIdentified analyst and responsible reviewer

This does not mean every inexpensive study is inadequate or every expensive study is excellent.

The important distinction is the actual scope and quality of the work.

A relatively simple project may not require an extensive research program. A complex hotel, medical facility, manufacturing plant, senior living development, or large commercial real estate project may require considerably more specialized analysis.

The buyer should know exactly what is being purchased.

2. Why professional experience matters in feasibility studies

Experience is not simply the number of years a company has existed.

It is the accumulated ability to recognize patterns, understand market conditions, identify unrealistic assumptions, evaluate financial risk, and recognize circumstances that can cause a project to fail.

A consultant who has completed numerous projects across different industries and economic environments may recognize problems that a less experienced analyst could overlook.

For example:

Market demand

A proposed hotel may appear financially attractive because the surrounding population is growing.

However, population growth alone does not establish hotel demand.

An experienced hospitality analyst will investigate:

  • Existing hotel supply.
  • Occupancy.
  • Average daily room rates.
  • Revenue per available room.
  • Seasonality.
  • Tourism.
  • Business travel.
  • New hotel construction.
  • Competitive positioning.
  • Future room inventory.
  • Potential demand generators.

Competitive saturation

A proposed restaurant may appear attractive based on population and income.

But what happens when the trade area already contains numerous competing restaurants with excess capacity?

An experienced consultant examines the actual competitive environment rather than assuming that a large population automatically creates an opportunity.

Financial projections

A business owner may project annual revenue growth of 15% for ten years.

But what supports that growth?

Does the market have sufficient capacity? Is the projected pricing realistic? Are payroll, insurance, utilities, inventory, and maintenance costs adequately modeled? Does the business have sufficient working capital?

Experience helps an analyst identify assumptions that deserve additional scrutiny.

Economic cycles

Projects can perform very differently during periods of economic expansion, recession, inflation, or elevated interest rates.

An experienced financial analyst understands that a project should not be evaluated exclusively under favorable economic conditions.

Where appropriate, the study should test alternative operating conditions and examine how economic changes affect revenue, operating expenses, EBITDA, cash flow, and debt-service coverage.

Experience is valuable because it improves judgment. It does not eliminate uncertainty, but it can help prevent avoidable analytical mistakes.

3. Professional credentials: What should you look for in a feasibility study consultant?

Professional qualifications and credentials of a feasibility study consultant
An analyst reviewing credentials, financial documents and research materials. Illustrative generated photograph; not Wert-Berater staff, clients or an actual client project.

A consulting firm should be able to explain who is performing the work, what qualifications they possess, who reviews the analysis, and who is responsible for the final report.

The term "feasibility study consultant" does not, by itself, establish a particular professional license or designation.

There is no single universal credential that qualifies an individual to perform every type of feasibility study.

The qualifications should correspond to the work being performed.

For example:

Economics and market research

A professional with education and experience in economics, market research, demographics, demand forecasting, and industry analysis may be particularly valuable when evaluating market size, customer demand, competitive supply, and economic trends.

Finance and financial modeling

A consultant with financial analysis and underwriting experience should understand:

  • Revenue modeling.
  • Operating expenses.
  • EBITDA.
  • Working capital.
  • Capital requirements.
  • Sources and uses.
  • Debt-service coverage.
  • Break-even analysis.
  • Interest-rate sensitivity.
  • Financial forecasting.
  • Downside scenarios.

Commercial real estate appraisal and valuation

When a project involves significant real estate value, the qualifications of the valuation professional become important.

For example, the MAI designation is awarded by the Appraisal Institute to qualified commercial real estate appraisers.

The American Society of Appraisers also awards professional designations, including Accredited Senior Appraiser (ASA).

State-certified general real estate appraiser credentials are separately regulated and should be verified through the appropriate state licensing authority.

These credentials can be important when an engagement includes appraisal or valuation work. However, an appraisal designation alone does not establish expertise in every area of market feasibility or financial underwriting. (See also feasibility study vs. appraisal.)

Legal and regulatory knowledge

Legal education and experience can be valuable when a project involves zoning, ownership, contracts, permitting, regulatory matters, or complex development arrangements.

However, a legal degree does not automatically establish competence in economic forecasting, market analysis, financial modeling, or commercial appraisal.

Industry-specific experience

A consultant evaluating a manufacturing facility should understand manufacturing economics, production capacity, equipment requirements, labor, raw materials, and supply chains.

A consultant evaluating a medical facility should understand healthcare demand, reimbursement, equipment utilization, referral patterns, staffing, and operating economics.

A hotel feasibility study requires a different analytical skill set from a senior care facility or a manufacturing development.

The most qualified consultant is not necessarily the person with the most impressive collection of letters after their name. It is the professional whose education, credentials, experience, and analytical capabilities match the project.

4. How to verify the credentials of a feasibility study consultant

Do not rely exclusively on marketing statements.

A professional consulting firm should be comfortable explaining and documenting its qualifications.

Before engaging a consultant, ask:

  1. What is the exact degree or professional designation?
  2. Which institution awarded the degree?
  3. What is the year of graduation?
  4. Is the professional designation active?
  5. Can the designation be verified through the issuing organization?
  6. Does the consultant have relevant state licenses where required?
  7. How many comparable feasibility studies has the individual completed?
  8. What industries has the consultant evaluated?
  9. Who will actually conduct the market research?
  10. Who will prepare the financial model?
  11. Who will review the final report?
  12. Who signs or takes responsibility for the conclusions?
  13. Can the firm provide examples of comparable projects?
  14. Has the consultant worked with banks, SBA lenders, CDCs, or USDA lenders?
  15. Does the consultant have experience evaluating projects during economic downturns?

Examples of credential verification resources

Appraisal Institute
Verify MAI designation and membership.
American Society of Appraisers
Verify ASA designations and professional membership.
State appraisal regulatory boards
Verify state-certified appraisal credentials and license status.
Universities and degree-verification services
Verify the actual institution, degree awarded, and graduation information.
Professional licensing organizations
Verify any claimed professional licenses, designations, and active status.

A consultant should not object to reasonable questions about qualifications. Professional transparency is part of professional credibility.

For a deeper treatment of degrees, JD claims, MAI verification and investment-banking claims, read How to Verify Feasibility Study Consultant Credentials and Experience.

5. Why lender and investor experience is particularly important

A feasibility study prepared for a lender is different from a general business plan.

A business plan is primarily intended to explain the business, its strategy, and how management intends to operate it.

A lender-oriented feasibility study must independently investigate whether the proposed investment is economically and financially supportable.

Lenders and investors need answers to questions such as:

  • Is there sufficient market demand?
  • Is the market already saturated?
  • Are revenue projections reasonable?
  • Are the operating expenses complete?
  • Is the development budget realistic?
  • Is management capable of operating the business?
  • Does the proposed business have sufficient cash flow?
  • Can the project support its proposed debt?
  • What happens if revenue is 10%, 15%, or 20% below expectations?
  • What are the principal risks?
  • What conditions could materially affect the investment?

The Office of the Comptroller of the Currency (OCC) emphasizes that banks should independently assess project feasibility and critically evaluate borrower-commissioned feasibility studies rather than simply accepting their conclusions.

This is an important distinction.

The study is an analytical resource. The bank remains responsible for its own credit decision.

Official reference: OCC Comptroller's Handbook.

A consultant who understands lender underwriting can organize the analysis around the questions that matter to credit officers, loan committees, and investment committees.

That experience may reduce unnecessary revisions and improve the usefulness of the report.

6. The real cost of selecting the wrong consultant

Consider a hypothetical $5 million development project.

A borrower receives two proposals:

Hypothetical fee comparison for a $5,000,000 project (illustration only)
ItemConsultant AConsultant B
Study fee$2,500$8,500
Project investment$5,000,000$5,000,000
Fee as percentage of project cost0.05%0.17%

Consultant A is less expensive by $6,000.

However, suppose Consultant A provides a limited market review and financial projections based primarily on borrower assumptions.

The lender subsequently requests additional market research, revised projections, competitive analysis, and a more detailed financial review.

The borrower now faces additional costs and a potential delay in financing.

Alternatively, imagine that the study fails to identify that a competing project is scheduled to enter the market before the proposed development opens.

The financial consequences of an incorrect assumption could be substantial.

The original $6,000 savings would be insignificant relative to the possible impact.

This is not an argument that a higher fee automatically produces a better study. It illustrates why comparing fees without comparing scope, methodology, and qualifications is an incomplete purchasing decision.

What should you compare instead?

Compare the following:

  • Who is actually performing the study?
  • What are their qualifications?
  • How much relevant experience do they have?
  • What similar projects have they completed?
  • What research will be independently conducted?
  • What sources will be used?
  • How will demand be calculated?
  • How will competitors be evaluated?
  • How will financial projections be developed?
  • What sensitivity analysis is included?
  • Who reviews and signs the report?
  • Will the consultant answer lender questions?
  • What is included in the quoted fee?

The lowest price is not necessarily the lowest total cost.

7. Why independent research matters more than attractive projections

Independent market research and competitive analysis for feasibility studies
An aerial view of a commercial corridor with competing businesses, representing trade-area and competitive-supply research. Illustrative generated photograph; not Wert-Berater staff, clients or an actual client project.

One of the most common analytical weaknesses in feasibility studies is reliance on assumptions supplied by the borrower or project developer.

A borrower may genuinely believe a project will generate $2 million in annual revenue.

But a feasibility study should not simply repeat that number.

The consultant should investigate whether the market can support the projected revenue.

For example, a proposed business may have:

  • A projected customer base of 10,000.
  • An average transaction of $125.
  • An anticipated purchase frequency of four times annually.

The resulting projected revenue would be:

10,000 × $125 × 4 = $5,000,000.

The mathematics are straightforward.

The difficult question is whether the business can realistically attract 10,000 customers, generate the assumed transaction size, and achieve the projected frequency.

That requires market research, competitive analysis, demand estimation, industry benchmarks, and an assessment of operating capacity.

A professional feasibility study should distinguish between:

  • Verified facts.
  • Borrower-provided information.
  • Third-party published data.
  • Consultant assumptions.
  • Forecasts.
  • Estimates.
  • Unverified claims.

The reader should be able to understand how the conclusions were reached.

8. The importance of financial modeling and downside analysis

Financial modeling and risk analysis prepared by a feasibility study consultant
An analyst reviewing cash flow, projected revenue, expenses, DSCR and downside scenarios. Illustrative generated photograph; not Wert-Berater staff, clients or an actual client project.

A feasibility study should not be limited to a favorable financial forecast.

A project may look profitable under the base-case assumptions but become financially unviable when costs increase or revenues decline.

A professional financial model should examine the relationships between revenue, operating expenses, capital requirements, debt service, and available cash flow.

Depending on the engagement, this may include:

  • Five- and ten-year projections.
  • Monthly construction and development schedules.
  • Revenue and expense modeling.
  • Capital expenditures.
  • Working capital.
  • Break-even analysis.
  • EBITDA.
  • Debt-service coverage ratio (DSCR).
  • Interest-rate sensitivity.
  • Construction cost sensitivity.
  • Revenue downside scenarios.
  • Operating expense stress tests.
  • Economic downturn scenarios.
  • Alternative financing structures.

For example:

Illustrative DSCR sensitivity (hypothetical figures)
ScenarioAnnual cash flowAnnual debt serviceDSCR
Base case$400,000$300,0001.33x
Revenue downside$340,000$300,0001.13x
Severe downside$280,000$300,0000.93x

This illustration shows why the lender needs more than a single projected income statement.

It needs to understand how resilient the project is under changing economic conditions. Lender coverage thresholds are compared in DSCR requirements: SBA, USDA and conventional.

9. How Wert-Berater competes in the feasibility study market

Wert-Berater independent feasibility study and lender advisory services
A senior consultant meeting with institutional lender representatives. Illustrative generated photograph; not Wert-Berater staff, clients or an actual client project.

Wert-Berater does not position itself simply as the least expensive feasibility study provider.

Our competitive strategy is built around experience, independent analysis, lender-facing work, professional accountability, and the ability to evaluate complex projects.

Wert-Berater, Inc. — Independent Market Intelligence & Feasibility Advisory

Established in 1998.

Our current published firm profile reports:

Firm-reported experience indicators
Experience indicatorWert-Berater
Years operatingSince 1998
Engagements completed4,000+
SBA studies accepted by lenders1,300+
USDA studies in agency financing950+
Project value evaluated$43.8 billion
Geographic coverageAll 50 states

These are firm-reported experience figures, not a claim that every project was completed by one individual. They describe the firm's collective assignment history.

Our experience includes work involving:

  • Commercial real estate.
  • Hotels and hospitality.
  • Multifamily development.
  • Senior living.
  • Healthcare.
  • Manufacturing.
  • Industrial facilities.
  • Retail and convenience stores.
  • Fuel and travel centers.
  • Marinas and recreation.
  • Renewable energy.
  • Agriculture and food processing.
  • Business acquisitions.
  • Specialized operating businesses.

Senior-level responsibility and analytical specialists

Wert-Berater uses a senior-led analytical model.

The firm's President, Donald Safranek, MSc, oversees engagements and retains principal review responsibility for the reports the firm issues.

The analytical team includes specialists in market research, economics, financial analysis, valuation, and industry-specific research.

This structure allows the firm to apply specialized knowledge to individual projects rather than relying on one generic report template for every industry.

Specialized valuation capabilities

For assignments requiring appraisal or valuation services, Wert-Berater works with Bruce E. Jones, MAI, ASA-GC, BCA, CMEA.

His professional background includes:

  • MAI designation from the Appraisal Institute.
  • Accredited Senior Appraiser designation through the American Society of Appraisers, including the Going Concern specialty.
  • Certified General Real Estate Appraiser credentials in multiple states.
  • Business and equipment appraisal experience.
  • Real estate experience dating to 1987.
  • Litigation support and expert testimony experience.

These appraisal and valuation credentials apply to his valuation assignments and specialist role, including special-purpose and going-concern appraisal. They should not be interpreted as meaning that every feasibility study is an appraisal or that every feasibility report is signed by him.

Independent analytical conclusions

Our objective is to provide an independent assessment supported by evidence and documented methodology.

For lender-commissioned assignments, the engagement identifies the appropriate relying party and follows the agreed independence requirements.

Fees are fixed and established before work begins. Compensation is not contingent on a favorable feasibility conclusion, an appraisal value, or the approval of financing.

A feasibility study must be allowed to reach an unfavorable conclusion when the evidence does not support the proposed investment.

We believe that professional independence is a competitive advantage.

Analytical capabilities

Depending on the project, Wert-Berater can provide:

  • Independent market and demand analysis.
  • Competitive market studies.
  • Economic and demographic research.
  • Market saturation analysis.
  • Revenue and operating expense projections.
  • Financial feasibility modeling.
  • Ten-year financial projections.
  • Development cost analysis.
  • Debt-service coverage analysis.
  • Sensitivity and downside modeling.
  • Business acquisition analysis.
  • Real estate and specialized asset valuation through qualified appraisal professionals.
  • Lender and investor underwriting support.

Our work is designed for the needs of commercial banks, SBA 7(a) and SBA 504 lenders, CDCs, USDA lenders, investors, developers, and business owners. Related services include investment due diligence and post-closing asset and portfolio monitoring.

10. How to compare feasibility study consultants before hiring one

Before making a decision, request a written scope and compare the actual analytical work.

Use the following checklist.

Consultant evaluation checklist
Evaluation questionWhy it matters
How long has the firm operated?Establishes operating history
How many comparable studies has it completed?Shows relevant assignment experience
Who will perform the work?Identifies actual responsibility
What are their qualifications?Establishes relevant education and professional standing
Can credentials be verified?Reduces credential uncertainty
Has the firm worked with lenders?Demonstrates familiarity with financing analysis
Does it understand the industry?Improves project-specific analysis
Does it conduct independent research?Reduces reliance on unsupported borrower assumptions
Are sources and calculations documented?Allows conclusions to be evaluated
Is financial modeling included?Tests the economic assumptions
Is downside analysis included?Identifies financial vulnerabilities
Who reviews the final report?Establishes accountability
Can the study reach an unfavorable conclusion?Tests independence
Will the consultant address lender questions?Improves practical usefulness
Is the fee and scope clearly documented?Prevents unexpected costs

A professional firm should be able to answer these questions without relying on vague marketing language. To record the answers side by side, use the consultant comparison worksheet below.

11. What should you expect to pay for a professional feasibility study?

There is no universal fee for a feasibility study.

The cost depends on:

  • Project type.
  • Industry.
  • Project investment.
  • Number of locations.
  • Geographic coverage.
  • Availability of reliable data.
  • Amount of primary research.
  • Technical complexity.
  • Development and construction analysis.
  • Financial modeling requirements.
  • Lender or agency requirements.
  • Delivery schedule.

A small business feasibility assignment and a large hotel or manufacturing development are not equivalent engagements.

A low-cost preliminary market review may be appropriate for an early investment screening decision.

However, a lender-grade feasibility study involving detailed market research, independent financial projections, project cost analysis, and downside sensitivity requires a different scope of work.

The right approach is to obtain written proposals and compare what is actually included.

Do not purchase a $2,500 study expecting the analytical scope of a $10,000 study without first examining the deliverables.

Equally, do not assume that a $10,000 proposal is better simply because it costs more.

The value is in the work, not the price tag.

12. Why Wert-Berater is an alternative to low-cost, generic feasibility providers

Wert-Berater competes on the substance of its analysis.

Our experience since 1998, documented engagement history, lender-facing assignments, senior-led review, and specialized analytical capabilities are intended to give clients an alternative to generic, template-driven consulting.

We recognize that every project has a budget.

Our objective is to establish a scope that is appropriate to the project and its financing requirements, without charging for unnecessary work or omitting essential analysis simply to offer the lowest price.

We encourage prospective clients to compare our experience, qualifications, research methodology, deliverables, and professional responsibility with those of other providers.

We do not expect a prospective client to select Wert-Berater based on a marketing statement alone.

We encourage them to examine the qualifications of the people involved, the firm's experience, the work being proposed, and the analytical standards behind the final report.

A study should be an investment in better decision-making

For a developer investing $3 million, $10 million, or $50 million, the cost of an independent feasibility study is generally a small part of the total capital commitment.

Its purpose is to identify whether the project assumptions are supportable before substantially more capital is committed.

A professionally prepared study can help identify market weaknesses, unrealistic revenue assumptions, inadequate capitalization, competitive threats, and financial risks.

It can also support projects that demonstrate credible market demand and financial performance.

Either way, the objective is better information before a major capital decision.

Consultant comparison worksheet

Use this worksheet to record what each provider actually states in its written proposal. Enter the provider names and the answers you receive. Nothing is pre-filled, scored or ranked; entries are saved only in this browser on this device and are never sent to Wert-Berater.

Twelve criteria for comparing feasibility study consultants
Criterion
Years of experienceFirm operating history and the individual analyst's relevant years.
Comparable projects completedStudies of a similar property type, size and financing structure.
Industry specializationDemonstrated knowledge of the industry under study.
EducationExact degree, awarding institution and year, verifiable.
Professional credentialsDesignations and licences, active and verifiable with the issuer.
Independent researchPrimary and third-party research beyond borrower-supplied assumptions.
Financial modelingIntegrated model, DSCR, break-even and sensitivity analysis.
Lender experienceWork for banks, SBA lenders, CDCs, USDA lenders or investors.
Senior reviewWho reviews the analysis before it is issued.
Report authorshipWho performs the work and who signs or takes responsibility.
IndependenceFixed fee, not contingent on a favorable conclusion or loan approval.
Revision and lender-question supportWhether lender questions and revisions are addressed, and on what terms.

The worksheet is an educational aid. It does not evaluate, endorse or criticize any provider, and Wert-Berater does not see what you enter.

Frequently asked questions about feasibility study consultants

1. Should I choose a feasibility study consultant based on price?

Price should be one consideration, but it should not be the primary selection criterion. Compare experience, professional qualifications, research methodology, financial analysis, deliverables, and the consultant's ability to address lender or investor questions.

2. How do I find the best feasibility study consultant?

Look for a firm with a documented history of comparable assignments, relevant professional qualifications, independent research capabilities, financial modeling expertise, and an identifiable person responsible for the final work.

3. What credentials should a feasibility study consultant have?

The appropriate credentials depend on the project. Economics, finance, market research, appraisal, engineering, accounting, and industry-specific experience can all be valuable. Verify the exact qualifications and ensure they match the services being provided.

4. Does a feasibility study consultant need an MAI designation?

No. An MAI designation is relevant to qualified commercial real estate appraisal work. It is not a universal requirement for market or financial feasibility consulting. When valuation is part of the engagement, verify the qualifications of the professional performing that work.

5. How many years of experience should a feasibility consultant have?

There is no universal regulatory minimum applicable to every feasibility study. Evaluate relevant individual experience, comparable assignments, project complexity, senior review, and the firm's demonstrated track record rather than years alone.

6. Why do feasibility study prices vary?

Fees vary because the scope of work varies. A basic market overview is different from an independent lender-grade analysis involving primary research, competitive supply, financial projections, construction costs, and downside sensitivity.

7. Are inexpensive feasibility studies accepted by banks?

A bank evaluates the study's quality, methodology, qualifications, independence, and suitability for its underwriting purpose. A low fee does not automatically disqualify a report, but a lender may request additional analysis if the study does not meet its requirements.

8. Does Wert-Berater prepare SBA and USDA feasibility studies?

Yes. Wert-Berater provides feasibility and financial analysis supporting SBA 7(a), SBA 504, USDA, conventional financing, and other investment and development assignments. The lender or applicable agency should confirm its specific requirements.

9. How long has Wert-Berater been in business?

Wert-Berater, Inc. was established in 1998 and reports more than 4,000 completed engagements.

10. How can I contact Wert-Berater?

Visit https://www.wert-berater.com/ to discuss a feasibility study, market research assignment, financial model, or lender underwriting requirement.

Conclusion: the value of a feasibility study is determined by the quality of the analysis

When selecting a feasibility study consultant, the lowest proposal may not represent the best value.

Experience, qualifications, independent research, financial modeling, professional accountability, and industry knowledge all influence the usefulness of the completed study.

For borrowers, developers, lenders, and investors, the purpose of a feasibility study is to improve the quality of a capital decision.

A report that simply confirms the assumptions of the project sponsor has limited value.

A report that independently tests those assumptions, documents its research, evaluates financial risks, and explains its conclusions provides a much stronger analytical foundation.

Wert-Berater, Inc. — Independent Market Intelligence & Feasibility Advisory

  • 1998Established
  • 4,000+Engagements completed
  • 1,300+SBA studies accepted by lenders
  • 950+USDA studies in agency financing
  • $43.8BProject value evaluated

Firm-reported figures describing the firm's collective assignment history.

Experience. Independence. Documented analysis.

Evaluate your next project with Wert-Berater.

Whether you are seeking SBA financing, USDA financing, conventional bank financing, or independent investment analysis, our team can discuss the appropriate scope of work.

Donald Safranek, MSc, President of Wert-Berater, Inc.

President, Wert-Berater, Inc. · Established 1998

Donald Safranek oversees the firm's engagements and retains principal review responsibility for the reports Wert-Berater issues. Appraisal and valuation work on relevant assignments is performed by the firm's credentialed valuation specialists; specialist designations are those of the individual specialist, not of the author.

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Wert-Berater, Inc. · 1968 South Coast Hwy, Ste 2382, Laguna Beach, CA 92651 · 111 Town Square Pl Ste 1238 PMB 657834, Jersey City, NJ 07310 · 539 W. Commerce St #8486, Dallas, TX 75208 · 66 W Flagler Street, Suite 900, PMB 12704, Miami, FL 33130 · +1 310-857-2443 ext. 800 · dsafranek@wert-berater.com · Blog Index · Privacy · Terms · Site Map

Legal disclosure. Wert-Berater, Inc. offices are mailing addresses only. Following the COVID-19 pandemic the firm has elected to work remotely; its office locations receive mail and are not staffed for visitors or in-person meetings. Headquarters mailing address: 1968 South Coast Hwy, Ste 2382, Laguna Beach, CA 92651.

Wert-Berater, Inc. is an independent provider of feasibility studies and other related services. The firm does not provide financing or equity investment advice, and does not arrange, broker, or place debt or equity capital of any kind.

All appraisal assignments are performed by Bruce E. Jones, MAI, ASA-GC, BCA, CMEA, a member of the Appraisal Institute since 2006, a staff member of Wert-Berater, Inc. and owner of Special Purpose Realty Valuation.

Services  ·  Experience

© 1998–2026 Wert-Berater, Inc. All rights reserved.
Engagements Completed
4,000+
SBA Studies Accepted by Lenders
1,300+
USDA Studies in Agency Financing
950+
Project Value Evaluated
$43.8B
Feasibility Consultants Since
1998

Thousands of real estate, business, and machinery appraisal and litigation assignments.