They could do OK even being online only as there is a good pool of well known names who have lost their jobs at traditional former local stations in the area who might want to get involved. Once they get a foot on the ladder that could join Suffolk DAB like Gen-X Radio already have if they think it's worth the expense. That would give them way better coverage than a standard 25 watt FM community radio.
I've heard that Felixstowe radio struggle to get listeners just as most of the other community stations do these days so thinking beyond FM/AM is probably the way to go now.