Testing The Water Imaginary Businesses Give Students A Taste Of Reality

A Spokane coffee shop that closed last year inspired Tiffany Geaudreau to create her own business.

The payoff was fast. Within months, she pocketed $300 in prize money.

Geaudreau’s imaginary business, “The Hole in the Wall” coffee shop was selected as the winning entry in Thursday’s Young Entrepreneur Seminar, held at Gonzaga University’s Jepson Auditorium.

“I was completely surprised by it,” said Geaudreau, 18, a senior at Lewis and Clark High School. In addition to $300, Geaudreau won software from Microsoft.

Geaudreau’s business proposal was patterned after Espresso Delizioso, which closed last August. Geaudreau’s plan depicted a cozy coffee shop with live entertainment and antique furniture, serving items like pasta salad, soup and specialty breads.

Geaudreau’s entry was one of 50 judged by a panel of business owners, professors and consultants. Prizes were awarded for individuals and groups.

The seminar began in November when more than 500 students gathered in the Ag Trade Center to meet with business owners and learn how to become entrepreneurs. The seminar was sponsored by the Spokane Area Chamber of Commerce’s Small Business Council, U.S. Bank, Pemco Financial Services and Microsoft.

Among the tasks students tackled were explaining how their business would be laid out, calculating detailed financial statements and determining what competition existed. Student business proposals included a nightclub, equestrian training center, tattoo parlor and photography studio.

Heather Cornwall’s baby daughter, Mariah, inspired the name of the business she and three friends created. The proposal for Mariah’s Bath and Beauty placed first in the group category, winning the girls $250.

Cornwall, a senior at Liberty High School, developed the business plan with fellow seniors Stephanie Kopplin and Shalla Gordon and junior Melissa Culbert.

The imaginary bath and beauty shop promises to deliver beautiful gift baskets, incense and scented candles at competitive prices.

A new class gave Christine Winkfield the idea for “Snap A Raz” photography studio. Winkfield’s proposal won her third place and $100.

“I wanted to see how much I would profit from it if I did it,” the Rogers High School junior said. “I just got into a photography class and it’s really fun.”

Mary Bareither, Taylor Hogsett and Vanessa Kuster won third place in the group category. Their entry, “Weave Got Baskets,” was based on a gift basket enterprise developed by their freshman business class at Liberty High School.

The girls said the class learned how difficult it can be to operate a business. If given a second chance, the girls said they would have bought materials wholesale and increased advertising.

“We barely broke even,” said Kuster.

“It was definitely a learning experience,” Hogsett said, “because we learned what not to do.”

, DataTimes ILLUSTRATION: Photo

MEMO: This sidebar appeared with the story: The winners Winning students in the Young Entrepreneur Seminar: INDIVIDUALS 1st place Tiffany Geaudreau, Lewis and Clark High School 2nd place Monalisa Operana, Lewis and Clark High School 3rd place Christine Winkfield, Rogers High School GROUPS 1st place Shalla Gordon, Melissa Culbert, Heather Cornwall and Stephanie Kopplin, Liberty High School 2nd place Tracy Stephens and Michael Johnson, Liberty High School 3rd place Mary Bareither, Taylor Hogsett and Vanessa Kuster, Liberty High School.