New Franchise Project

1. Do you think you were a successful business owner?

   Why or why not?

I do not think I was a successful business owner, I lost money in every season no matter what I changed. 

2. What was your primary purpose in playing and managing this simulation?

By doing this assignment, I was able to learn how hard it is to gain money when investing so much of your own money in a business. I learned how hard it is to juggle every different thing that you need in order to run a successful business, in this case, licensing deals, sponsorship deals, ticket prices, staffing, etc.

3. What were the two main reasons for not making more money?

My licensing deals didn't make as much money as I hoped, I spent too much money on preseason advertising, and I hired too many unnecessary people.

4. What do you think you did best in the planning and running of your football team?

I think I did best in sponsorship deals, and licensing contracts, as well as ticket prices. 

5. What was your biggest weakness in running this simulation?

It seemed like no matter how much or how little money I would spend, I could never make a profit.

6. Explain how you managed yield management pricing?

On my second season I realized I couldn't spend endless amounts of money on advertising cause i would never be able to get it back. I did a survey on how much people would be willing to spend on tickets. After I knew the amount of money people would spend, I priced the front row seats at $40ish dollars because 10-15% of the city was willing to pay that much. Then I priced the 3rd row side at $5-8 because 10% of the population only wanted to spend $10 and below on ticket [priced. 

7. Explain how you used market research to help your planning.

By doing market research I was able to figure out the wants and limits of my customers so I would know how to price things.

8. Explain how infrastructure the city's businesses affect the running of your team. 

I used local businesses to sponsor my teams getting my teams name out around the city, and their businesses name inside my stadium.

9. Explain why it might be important to ask questions about devotion and ticket spending when trying to determine where to locate your team.

Because you want people to pay a good amount of money on tickets, or else you wont make a big profit.

10. What promotion would you like to receive if going to one of your games?

I would like to receive either the jacket, the helmet, or the hat.