Think you have a great business idea for the Washington University Campus Community? Start with a visit to the StEP Advisors. We’ll help you to determine if your business dream is ripe to become a reality.
 

To be considered a member of StEP, aspiring entrepreneurs must complete the following requirements.

1. Student(s) start talking to the StEP Advisor about their proposed business.

2. The business owners are required to submit a detailed business plan that reflects the business aspirations and expectations.

3. The prospective StEP members are required to participate in a business plan presentation and interview with the StEP Advisory Board. The business plan and results of the presentation and interview are considered by the Advisory Board.

4. Questions, comments, and concerns are then communicated by the Advisory Board to the prospective StEP members. The business plan is then accepted, rejected, or held for changes.
 

The StEP Advisory Board will look at the business plan, participate in the interview/ presentation and consider the following issues in determining which business plans will be selected for the program and the storefront spaces.

1. The business must be owned and operated exclusively by current Washington University undergraduate students.

2. Is the product or service one that will be of interest to students or satisfy a need/market on campus?

3. Is the product or service currently available on campus? If so, would the business violate an existing agreement between the University and an auxiliary enterprise?

4. Is the business virtual or will it require use of a storefront?

5. Will the business be in any way disruptive to residential living or compromises the mission of the University?

6. Will the business place extraordinary costs on the University? (Higher utility bills, additional maintenance, increased housekeeping services, etc.)

7. Will the business operate year-round or only during the school year?

8. Will the business require modifications to the storefront in which it is housed?

9. Is the business viable?

 

Download the StEP Business Proposal Submission Form

To start up a new business, aspiring students must submit a business plan which details:

  • Concept and company
  • Products and/or services they will provide
  • Target market they wish to enter
  • Nature of their competition
  • Management team
  • Ownership information
  • Operations plan
  • Administrative responsibilities

In addition, students will need to build a sound financial plan, including a start-up budget with projected revenue and expenditures.