Date of Award

2000

Document Type

Thesis

Degree Name

Master of Science

Department

Business

First Advisor

Rita Kottmeyer

Second Advisor

Virgil O'Connor

Third Advisor

Michael E. Suwe

Abstract

This thesis will focus on the study of developing a business plan for a small home-based real estate appraisal company.

Studies indicate that a large percentage of business ventures fail due to a lack of planning . Many entrepreneurs believe that developing a business plan is not necessary if they do not require financing or have adequate personal expertise to operate a business . Although common to large business ventures , a business plan for the start- up and operations of a small business have been widely overlooked.

In today' s market, entrepreneurs are beginning to take business plans more seriously by utilizing plans to submit to potential lenders , and as a guide to more formally track the successes of their venture . Business owners have also experienced a competitive edge over other companies by use of a business plan.

The purpose of this study is to conduct the necessary research to begin a home- based real estate appraisal company in preparation for writing a business plan for the proposed company, The Real Estate Appraisal Group.

The completed business plan was submitted to three evaluators who currently own and operate their own real estate appraisal businesses. The evaluators were asked to provide feedback for the business plan developed , by completing a survey. The surveys completed by the evaluators were graphed and statistically tested to determine the overall success and strengths of the business plan.

The results of this research has rendered a business plan for the Real Estate Appraisal Group.

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