Sim Biz!!. Getting Started Playing the game Getting started Buying products Selling products Keeping...

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