Simulation technique could be effective if it is cleverly manipulated and incorporated in a project-based learning context. This current study aims to explore students' learning experience in a project-based simulated business context. The participants were 51 second and third year students who took Business English as an elective course at a private university in central Taiwan. In the project, the participants modeled an episode in a reality TV show, The Apprentice, and tried to plan their projects of selling beverages to the students on campus using English. The students were engaged in the whole process from initial project planning to the final oral report of presenting their selling strategies. The results from the participants' questionnaire responses and interview data revealed that they felt the course was more motivating, interactive and practical than traditional business course. It is also suggested that this simulated business project provide students with opportunities for social interaction and a psychologically safe team environment to work collaboratively, which both contributed the development in synergistic knowledge.