Many fashion students aspire to open a retail store of their own, but the idea of starting their own business can be quite daunting. Entrepreneurship in Action: A Retail Store Simulation provides an opportunity to practice all the steps necessary to conceptualize, develop, open, and finally operate a business in the safe and nurturing environment of the classroom. As they prepare to open their simulated retail business, students learn how to develop a product and product niche, conduct market research, and find funding and a good location for their store. Most importantly, when they reach the end of the book, they will have written a complete business plan in a format suitable for submission to a bank or other lending institution. This book brings your enterprising students one step closer to making their dream a reality. Each chapter begins with learning objectives and explains a concept, as well as addressing questions that an entrepreneur would need to ask. An assignment follows that directs the students to think creatively to apply the theoretical knowledge previously introduced.
The simulation thus pulls together the content as well as the format of a well-conceived business plan. Features -- Basic research & information provided for each chapter and a comprehensive list of Internet & research sources to help the student or entrepreneur complete the simulation -- Simulation assignments to guide students step-by-step through the creation of a business plan. -- CD-ROM with templates of all forms printed in the text and Instructor's Guide with examples of forms accurately filled out -- Instructor's Guide will show examples of forms accurately filled out, provide teaching assignments, and include sample exams
Table of Contents
Contents -- Getting Started -- Step 1: Choosing a Business and Product line -- Step 2: Finding the Right Location -- Step 3: Funding the Business/Sales Planning -- Step 4: Preparing a Business Resume and Personal Financial Statement -- Step 5: Profit and Loss Plan -- Step 6: Merchandising Your Store -- Step 7: Marketing Plan -- Step 8: Personnel and Sales Management Plan -- Step 9: Visual Merchandising and Store Layout -- Step 10: Capital Spending Plan and Cash Flow Forecast -- Step 11: Financial Documents for Evaluation and Tax Preparation -- Step 12: Pulling It All Together -- Managing Your Success
Rosalie J. Regni is at the Virginia Commonwealth University