The Tabor School of Business certainly offers a world of opportunity and experience at Millikin University. First-year business students are quickly assigned to develop their first business plan as part of the Introduction to Business course. The business plan outlines a proposal to operate an enterprise of their choice with the evaluation process based on feasibility and profitability. All freshman business teams this past semester competed throughout the fall to become a finalist for the Freshman Business Plan Competition, held on February 1 in the Lower Richards Treat University Center. Four business plans were selected as finalists this year including The Frogurt Shoppe; Puppy Love; Berry Smooth; and Way Back When.
“In just a short amount of time our students already understand the language of business. We wanted our students to have the opportunity to compete and the opportunity to perform. It’s more than learning the book, you have to turn around and demonstrate what you know,” Millikin University Dean of the Tabor School of Business James Dahl said. “We want them to start from day one. The program helps them identify where they might have an interest in business.”
The first presentation of the competition came from Berry Smooth, a smoothie and alternative snack industry for today’s on-the-go and health conscious consumer. The program’s second presentation came from The Frogurt Shoppe, a frozen dessert shop that offers a healthier alternative, all-natural, low-fat, frozen yogurt. As part of their executive summary, The Frogurt Shoppe team described its main key to success is offering a “Fun Environment” to customers.
Puppy Love, a boarding, exercise, and high-end grooming company followed the first two presentations. Puppy Love was described as a Limited Liability Corporation with marketing focus on dog owners who are seeking the best treatment and love for their dogs. The final presentation of the competition was from Way Back When, a 1950’s diner that provides a unique dining experience with venture goals of quality service to customers and ensuring customer satisfaction.
Way Back When was chosen the winner of the Freshman Business Plan Competition with The Frogurt Shoppe finishing in second place. As a result of the votes both teams receive an all-expense paid trip to the Dominican Republic next January. The trip to the Dominican Republic will provide the Millikin University students an opportunity to learn about and experience international business. All finalists were awarded for their exceptional business plans at the conclusion of the Freshman Business Plan Competition.