We will work on these steps for the next few classes until the lemonade advertisements are ready to share.
- Step 1 -
How much does it cost to run a lemonade stand?
The first thing you need to do is find out how much your lemonade is going to cost you to make. What do you need to make lemonade?
Visit this website to see what is needed for the recipe for lemonade:
★ Old-Fashioned Lemonade Recipe
It looks like you will need:
- 8 lemons
- 2 litres of cold water
- 265g of sugar
Don't forget that you will also need to buy cups to serve your lemonade in!
Use the Memorial Grocery Store Flyer to find out how much these items will cost.
★ Memorial Grocery Store Flyer
Use the Grocery List Worksheet to record the costs:
★ Grocery List Worksheet
When you are adding the prices of your grocery items, remember:
✏ In earlier math lessons we learned that there are no taxes on food items, like lemons and sugar. But there are taxes on other items, like cups.
✏ The total tax rate in Newfoundland and Labrador is 13%.
- Step 2 -
How much will I sell my lemonade for?Based on the cost to make your lemonade, you will have to decide how much you are going to sell a cup of your lemonade for. Do this by finding out how much one cup of lemonade cost you to make. Since 1 recipe of lemonade makes 8 cups, you can divide the cost to make your lemonade by 8 to find out how much each cup cost you to make. Record this information on the Lemonade Stand Worksheet:
★ Lemonade Stand Worksheet
Remember from The Lemonade War that the price of your lemonade will affect how much lemonade you sell. If the lemonade is too expensive, people might not buy many drinks. If the lemonade is too cheap, you might not make much profit.
Record your final price decision on the Lemonade Stand Worksheet.
- Step 3 -
Creating your business planNow that you know how much your lemonade will cost you to sell and how much you will sell it for per cup, you can create a business plan. Fill in this sheet to get started on your Lemonade Stand Business Plan:
★ Lemonade Stand Business Plan
Phew! That was a lot of thinking and planning, but now you know a lot about running a lemonade stand. Are you ready to move onto the final step? Here we go!
- Step 4 -
Creating your advertisementYou and your partner must decide on a way to advertise your lemonade stand. Here are some suggestions and websites to get you thinking:
✏ If you have another idea, please see me before you begin.
✏ Include important information in your advertisement, like the price of your lemonade.
Now that you have finished your advertisement, move onto the Conclusion!