Entrepreneurship in Action A Retail Store Simulation

by Regni, Rosalie J.; Anderson, Jimmie G.

• ISBN13: 9781563675959
• ISBN10: 1563675951
• Edition: 1st
• Format: Paperback
• Copyright: 2008-10-27
• Publisher: Fairchild Books

Summary

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 important, 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

Author Biography

Rosalie J. Regni is an assistant professor at Virginia Commonwealth University.

Jimmie G. Anderson is retired and currently volunteers his time to the Department of Fashion Design and Merchandising at Virginia Commonwealth University.

Table of Contents

Getting Started

Choosing a Business and Product line

Finding the Right Location

Funding the Business/Sales Planning

Preparing a Business Resume and Personal Financial Statement

Profit and Loss Plan

Merchandising Your Store

Marketing Plan

Personnel and Sales Management Plan

Visual Merchandising and Store Layout

Capital Spending Plan and Cash Flow Forecast

Financial Documents for Evaluation and Tax Preparation

Pulling It All Together

Managing Your Success

Table of Contents provided by Publisher. All Rights Reserved.