September 30, 2022

Unitranche

Supportive Business Potential

UMO students gain real-world experience in starting a business

From UMO Public Affairs

Starting a new business can be intimidating. 

Not so for students in the Business 325 Practicum course at the University of Mount Olive.  

As part of the requirements of the course, students are tasked with forming and running a business. The process prepares them for real-world challenges and solutions. 

The students in this semester’s upper level course, led by Dr. Anamaria Dickson, chose to create a T-shirt company utilizing a design that the group created to represent unity. 

Each of the 11 students chose different roles and responsibilities to operate the business. 

“Sometimes we get caught up and a little isolated being members of athletic teams, clubs or other groups on campus,” said Katelyn Fulford, a management major from western North Carolina.  

Fulford, along with finance majors Trevor Treser and Will Doyen, and management major Gabe Highfield, designed the T-shirts using “UA1” as their graphic.

They also located supply vendors for the project. 

“We thought that the name ‘United as One’ perfectly embodied our mission of forming tighter, more close-knit bonds with our campus community,” Treser said.

Before the T-shirt could go into production, the students presented their business plan and sought a loan from Southern Bank in Mount Olive. The proposal and loan were both approved.

According to Jarrid Johnson, an accounting major from Seattle, the business needs to sell approximately 50 T-shirts and 25 crewnecks to break even and pay back the $1,600 loan.  

“Any profits made will go into a scholarship fund for future UMO Tillman School of Business students,” said Seth Eaton, a finance major from South Carolina.

Marketing major Kenshawn Dixon, from Grifton, said the apparel will be sold from March 25-Apr. 29. T-shirts are $15 and crewnecks are $30. He said those interested in placing an order can contact the students through an Instagram account @UnitedAsOne325.