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

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

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 11/17/07 Wholesaler Seventy and 00/ Food

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

Now it’s off to sell 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 Custome r Sure! I’ll take 20

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

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

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/

Keeping Records (Cont.) Don’t forget to record your deposit in your check register 11/17Wholesaler - $70 00 $ $ $70 00 Deposit from day 1 sales11/ $ $ $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 11/18/07 Biz Kids Bank Thirty Three and 00/ Loan Payment

Keeping Records (Cont.) Don’t forget to record the payment in your check register 11/17Wholesaler - $70 00 $ $ $70 00 Deposit from sales11/ $ $ $ /18Loan Payment$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 11/17Wholesaler - $70 00 $ $ $70 00 Deposit from sales11/ $ $ $ /18Loan Payment $ $33 00 $ /19Tax 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