Buy or Start a StEP Business

How to Start a new StEP Business

• Create a unique business concept.
• Talk with step@wustl.edu about your business concept to ensure it fits with the StEP framework.
• If the concept is accepted, do market research and customer discovery to determine feasibility. Review the necessary “StEPs” for starting something new. 
• Prepare and submit a detailed business plan.
• Deliver a business plan presentation and complete an interview with the StEP Advisory Board.
• Wait for approval and recognition.
• Raise capital and become official by fulfilling the requirements of a business in the St. Louis/Clayton area.
• Take advantage of the benefits of being a member.

How to Buy into an Existing StEP Business

• Learn which businesses may be for sale/have shares for sale (most seniors plan to sell before graduation).
• Attend or view the Buying a Business Workshop – this is mandatory.
• Once you’ve attended the workshop or completed the necessary steps, you may begin discussions with owners – review their prospectus, submit an offer, and negotiate.
• If your offer is accepted, work with the sellers to agree on a bill of sale.
• Sign all necessary paperwork and begin the adventure of being a StEP Owner!