Senior Business Capstone projects
by Josh Borrelli, Reporter
Many business majors at George Fox dream of someday starting and running their own businesses. Thanks to Business Senior Capstone, each one gets to do just that -- and while still in college! Under the direction and supervision of Professor Dirk Barram, senior business majors form small business teams that plan and eventually operate their own original businesses. This year, 70 students have taken up the challenge. Each group is given $450 to start their business, and they are expected to turn a profit on their project by the end of the spring semester. "This part scares a lot of students, but they do just fine" stated Professor Barram.
The $450 given to each team comes from the Patrick Kibler Memorial Fund, which was founded after the tragic death of business major and senior Patrick Kibler in 2004 [See story below]. Half of any profit made from a Senior Capstone project is donated back to the memorial fund while the students are allowed to keep the other half. Because this is a year-long class, students are given the fall semester to plan. According to Barram, coming up with the idea is always a hard and lengthy process. Once an idea is decided upon, teams must fine-tune their idea by choosing a location, facilities, products/services, and target customers. Then they focus on marketing, predicting sales, and the target market. Finances are considered as each team develops a revenue forecast and a projected income statement. In the spring, the businesses begin! Teams staff their businesses, open them, and operate, monitoring their financial business success as the semester progresses. At the end of the semester, the student teams give a formal presentation to the entire business department faculty and turn in a written report concerning their business.
These Senior Capstone project businesses can take on many different forms. One of the more memorable business projects from last year sold t-shirts with GFU-specific slogans, such as "Slide and Run," or the "Lifestyle Agreement." This year, the projects are quite varied once more. One business named "Brewin' Calendars" will create a custom calendar for its customers with personal photos, personal dates and even picture catptions.
Another business idea is the Newberg Saturday Market. Located on the George Fox campus, merchants are able to rent a booth at the Newberg Saturday Market for a mere $15. The market hopes to provide easy access to fun and interesting items for students and communty members alike. A third business project is focused on marketing. This business will essentially flood George Fox with advertising. Most Senior Capstone businesses are readying to open soon, so keep an eye out and support your fellow students!