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 • 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!
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
Getting Started
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
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
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
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
Now it’s off to buy products!!!
Buying Products
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.
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
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
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
Now it’s off to sell products!!!
Selling Products
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
Selling Products(Cont.) • Each customer will pay you with a check Yea!! Yea!! Yea!! Here’s a check for $100 Yea!! Customer
Selling Products(Cont.) • Hang on to all of the checks you receive until a new “Day” is announced
Keeping Records
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
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
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
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
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
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
Keeping Records(Cont.) • The government will also require that you to pay taxes 10% Please! Here’s a check for what we owe
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
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
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