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Sim Biz!!

Sim Biz!!. Getting Started. Playing the game Getting started Buying products Selling products Keeping records. Playing The Game. Playing the Game. Sim Biz is designed to simulate the experience of running a real business Mock businesses will be formed by teams of 4-5 students

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Sim Biz!!

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  1. Sim Biz!!

  2. Getting Started • Playing the game • Getting started • Buying products • Selling products • Keeping records

  3. Playing The Game

  4. Playing the Game • Sim Biz is designed to simulate the experience of running a real business • Mock businesses will be formed by teams of 4-5 students • Each team will do it’s best to run a business and make the most money • At the end of the game, the team that makes the most money wins!

  5. Playing the Game(Cont.) • Overall the game is played in 15 minute cycles • Each 15 minute cycle is considered one “day” • During each “Day” teams conduct business by: • Applying for licenses and loans • Buying products to sell • Selling products to customers • Making deposits and payments at the bank • Paying taxes

  6. Getting Started

  7. Getting Started • The first thing your team will need to do is decide on roles I’ll purchase our products And I’ll do the record keeping I’ll do Sales

  8. Getting Started(Cont.) • The second thing your team will need to do is file a DBA and Permit with the Government Representative Here’s our DBA and Permit Government

  9. Getting Started(Cont.) • Thirdly, your team will take it’s DBA and Permit to the bank to apply for a loan of $100, $300, or $500 We would like to apply for a $500 loan We will need your DBA and Permit Bank

  10. Getting Started(Cont.) • Once your loan application has been approved, you will receive a check register, checks, and deposit slips. Write your deposit down first - $300 00

  11. Now it’s off to buy products!!!

  12. Buying Products

  13. Buying Products • Once your team has it’s start up money, you’ll head off to the wholesaler to buy products • You will have the choice of buying: • Bread • Milk • Tomatoes • Fish • Apples • Etc.

  14. Buying Products(Cont.) • The wholesaler will determine prices for each product We’ll take 20 tomatoes and 10 apples please Tomatoes are $2 each and Apples are $3 Wholesaler

  15. Buying Products(Cont.) • To buy products from the wholesaler you will need to write a check 11/17/07 Wholesaler 70.00 Seventy and 00/100 -------------- Food

  16. Buying Products(Cont.) • After each check you write, remember to record it in your check register $300 00 - $70 00 101 11/17 Wholesaler $70 00 $230 00

  17. Now it’s off to sell products!!!

  18. Selling Products

  19. Selling Products • Once you have some products, find a customer and try to strike a deal Would you like to buy some Tomatoes for $5 Customer Sure! I’ll take 20

  20. Selling Products(Cont.) • Each customer will pay you with a check Yea!! Yea!! Yea!! Here’s a check for $100 Yea!! Customer

  21. Selling Products(Cont.) • Hang on to all of the checks you receive until a new “Day” is announced

  22. Keeping Records

  23. Keeping Records • When a new “Day” is announced, bring all of the checks to the bank and fill out a deposit slip We would like to make a deposit Bank

  24. Keeping Records(Cont.) • List each check individually on the back of the slip, and record the total of all your checks on the front 11/18/07 250 0 0 250 0 0

  25. Keeping Records(Cont.) • Don’t forget to record your deposit in your check register $300 00 - $70 00 $70 00 101 11/17 Wholesaler $230 00 +$250 00 11/18 Deposit from day 1 sales $250 00 $480 00

  26. Keeping Records(Cont.) • While you’re at the bank, you will also have to make a payment on your loan Thank you! Here’s our next payment on our loan Bank

  27. Keeping Records(Cont.) • To make your loan payment, you will need to write another check 11/18/07 Biz Kids Bank 33.00 Thirty Three and 00/100 -------------- Loan Payment

  28. Keeping Records(Cont.) • Don’t forget to record the payment in your check register $300 00 - $70 00 101 11/17 Wholesaler $70 00 $230 00 +$250 00 11/18 Deposit from sales $250 00 $480 00 $33 00 102 11/18 Loan Payment $33 00 $447 00

  29. Keeping Records(Cont.) • The government will also require that you to pay taxes 10% Please! Here’s a check for what we owe

  30. Keeping Records(Cont.) • Don’t forget to record the payment in your check register $300 00 - $70 00 $70 00 101 11/17 Wholesaler $230 00 +$250 00 11/18 Deposit from sales $250 00 $480 00 - $33 00 $33 00 102 11/18 Loan Payment $447 00 - $25 00 103 11/19 Tax Payment $25 00 $422 00

  31. Keeping Records(Cont.) • Continue this process for each new “Day” that is announced • The better that your team can keep records, the better your chances are of winning • At the end of the game, the bank will collect your check registers to compare with their records • Winners will be determined after making these calculations

  32. ?

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