Abstract
In the current economic downturn, more and more cities, counties, and states are looking for ways to enhance job creation, entrepreneurship, and economic development objectives by starting or supporting business incubators. One of the first steps used by business incubators to assist new businesses is helping the new business to develop a sound and realistic business plan. Correspondingly, key to the success of the new and existing business incubators is having a sound business model in which to operate. This paper presents an applied study of a feasibility assessment model used to develop a comprehensive strategic business plan for a business incubator in Southwest Florida. In addition, the paper shows the evolution of the incubator and the many challenges faced from its development to the present time. The applied paper can be used as a learning tool for both academics and practitioners in the field.