Business Plan Success

Nine teams from colleges and universities across the country competed for cash prizes March 24-25 during the final round of the ninth annual Enterprise Creation Competition at Ball State University. The team representing Illinois State University won the third place award of $1000. University of

Arizona took first place and University of Michigan came in second. Other schools participating in the two-day competition were Texas Christian University, Baylor University, University of Central Florida, Northwood University, Westmont College and the Ohio State University.

 

According to Leon Schjoedt (MQM) when creating a business plan students learn how everything fits together. “When they go out to interview, I encourage students to talk about their business plan because very few college students have written one,” added Schjoedt.

 

Joshua Steele, Tim Aldrich, Zach Frazier and Cortez McCoy were thrilled with the results at the Ball State Competition where the judges saw excellent potential for success in their plan. Designed to be part of a planned retail and entertainment development in North Normal, Skewer’s Grille & Bar was created to appeal to the Twin Cities’ fine dining set.  The establishment would offer meals ranging from chicken to exotic faire prepared in a theatrical fashion in front of customers. An upscale attached bar was included to provide customers a place to unwind.  The creators of the Skewer’s concept, led by seasoned chef Joshua Steele, also planned to derive a significant portion of their business from banquets and corporate outings. The creativity of the plan, along with sound financial analysis led to the team’s success.