sim biz!!. getting started playing the game getting started buying products selling products keeping...
TRANSCRIPT
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 do Sales
And I’ll do the record keeping
I’ll purchase
our products
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
Bank
We will need your DBA and Permit
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
Wholesaler
Tomatoes are $2 each and
Apples are $3
Buying Products(Cont.)
• To buy products from the wholesaler you will need to write a check
11/17/07Wholesaler 70.0
0Seventy and 00/100 --------------
Food
Buying Products(Cont.)
• After each check you write, remember to record it in your check register
11/17 Wholesaler- $70 00$300 00
$230 00$70 00101
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
Customer
Here’s a check for
$100
Yea!!
Yea!! Yea!
!
Yea!!
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
Bank
We would like to make
a deposit
Keeping Records(Cont.)
• List each check individually on the back of the slip, and record the total of all your checks on the front
11/18/07250 0 0
250 0 0
Keeping Records(Cont.)
• Don’t forget to record your deposit in your check register
11/17 Wholesaler- $70 00$300 00
$230 00$70 00
Deposit from day 1 sales11/18
101 +$250 00
$250 00 $480 00
Keeping Records(Cont.)
• While you’re at the bank, you will also have to make a payment on your loan
Bank
Here’s our next payment on our loan
Thank you!
Keeping Records(Cont.)
• To make your loan payment, you will need to write another check
11/18/07Biz Kids Bank 33.0
0Thirty Three and 00/100 --------------
Loan Payment
Keeping Records(Cont.)
• Don’t forget to record the payment in your check register
11/17 Wholesaler- $70 00
$300 00
$230 00$70 00
Deposit from sales11/18
101 +$250 00
$250 00 $480 00
102 11/18 Loan Payment $33 00$33 00
$447 00
Keeping Records(Cont.)
• The government will also require that you to pay taxes
Here’s a check for
what we owe
10% Please!
Keeping Records(Cont.)
• Don’t forget to record the payment in your check register
11/17 Wholesaler- $70 00$300 00
$230 00$70 00
Deposit from sales11/18
101 +$250 00
$250 00 $480 00
102 11/18 Loan Payment $33 00- $33 00$447 00
103 11/19 Tax Payment $25 00- $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
