Schools
MEF grant helps students run virtual restaurants
Students make millions running virtual businesses.
The Mansfield Education Foundation provided a grant to Mrs. Prester’s Entrepreneurship and Marketing students to purchase the Virtual Business “Restaurant” simulation software. The simulation software was used by 135 students in classes this year at Mansfield High School.
The software included nine lessons for the students to practice with before opening their own restaurant. Students had to read background information and complete various tasks within an existing restaurant for each lesson, attempting to turn the business around to be profitable.
The students were then challenged to open their own restaurants in the simulation and make all of the decisions associated with running that restaurant. Students had to complete the following to successfully run their restaurants:
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- Conduct market research
- Select a restaurant location within a given city
- Prepare and analyze financial statements
- Choose the restaurant’s offerings and design a menu
- Calculate prices for the food items
- Maintain a purchasing plan to not overbuy or underbuy
- Layout the restaurant’s guest tables and kitchen
- Monitor staffing levels and employee satisfaction
- Conduct marketing to attract and retain customers
One student said “I felt the game was fun and helped me realize the troubles with a business and how things work. It was a fun way to learn other than just looking at a book or going over other businesses. We could make our own, which is different.” Another was equally impressed; she mentioned that “the restaurant simulation game is a great game to play. It is hard and teaches you strategies to use in order to run a successful business. The game is also good because although it is just a game, real life restaurants and businesses go through the complications everyday. Overall, I enjoyed the game.”
Students were acknowledged for reaching various goals in the simulation, such as operating multiple restaurants at the same time, reaching $15,000 a week in profit, or amassing over $1 million in cash reserves.