1. 2 Step 1 = Choose your business! 3 You will need to make some decisions about how you will finance your business…see the next slides for more information.

Slides:



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Presentation transcript:

1

2 Step 1 = Choose your business!

3 You will need to make some decisions about how you will finance your business…see the next slides for more information BEFORE making this important decision. Step 2 =

4 Your Options for Financing: 1.) Use your own money: If you are lucky enough to have the money it takes to start up a business, you may decide you want to use it. Here are some of the pros and cons when you start a business with your own money. Pros: You will not have share your profits with anyone. Cons: If you are not successful you will lose your money.

5 2.) Get a Bank Loan: If you chose to get a bank loan, it is going to cost you. The $4,500 is not free. You will have to pay the money back. Here is an example of what it will cost you: Principal loan: $4,500 Interest charged $819 Total loan amount $5,319 This means that you will have to pay the original loan plus the money that the bank makes from giving you their money to use for a period of time. The money that the bank makes on this loan is usually calculated by an interest rate. Depending upon many factors that interest rate can vary. Pros: The benefit of using the banks money is that you won't lose any of your money. You are establishing credit with the bank for future business plans. Cons: You will have to take a portion of your profit and give it to the bank for taking out the loan. Your Options for Financing, cont.:

6 Step 3 = Give your business a name!

7 Step 4 = PLAY! Have fun going through the days running your business! Keep in mind you will need to keep track of your progress at the end of each week. Practice taking a screen shot or two BEFORE playing so that you are ready!

8 Continue reading OR refer to the next slides later in your game for some other helpful tips on how the game is played! Need more?

9 Business Marketing Information Customers Stations Competitors Research and Development (shows up later in the game)

10 Choose from four different types of marketing/ advertising campaigns!

11

12

13

14

15

16 This tab allows you to view the current and previous news events.

17 This tab explains how to earn biz points, and shows how you’ve earned current biz points.

18 This tab shows the current needs of the customers.

19 This tab allows you to view the number of customers you have served.

20 This tab shows how many customers you have lost because you failed to serve them.

21 This tab shows each station available and the cost to rent it.

22 This tab shows which stations you are currently renting and offers to switch to a station that is in demand.

23 This tab displays the current price customers are paying for services and allows you to adjust your prices.

24 This tab allows you to see what stations you are currently operating.

25 If you click on the station during the game you can see a log of customer activity as well as costs, earnings, and net balance for each station you choose.

26 See how you rate with the other businesses in town.

27 By doing research and development you can create new types of stations for use in your business

28 Check your buttons regularly to keep up with your customers’ changing needs. Time stops any time you select a button. Change stations as often as you need to keep up with current demands. Watch and listen to news flashes and respond to them as needed.

29 Advertising Customer Service E-Commerce Entrepreneur Fashion Merchandising Financial Services Food Marketing Hospitality Marketing Importing/Exporting International Marketing Marketing Research Product Management Professional Sales Public Relations Real Estate Restaurant Management Sales Management Service Marketing Sports Marketing Travel/Tourism Marketing