Support America’s small businesses: my grandson Kanye’s lemonade stand is open Saturday June 1, 2017,11 am-1 pm
So what if life does NOT give you lemons? According to my grandson Kanye (10), get a business loan from your parents, buy 11 packets of lemonade flavored mix, and open a lemonade stand!
Saturday July 1st 11 am-1 pm on the corner of 600 South and Emerson Street (just south of Liberty Park), Salt Lake City, Utah
“Please support my lemonade stand to keep dangerous kids like me off the evil streets!”
Saturday July 1st 11 am-1 pm
Here is Kanye’s business plan for the lemonade stand, as explained to Ouma:
- Collaborate with sister Aliya, share labor, cost, and profit
Kanye (10) and Aliya (7) at their shared birthday party 2017.
2. Cost of the ingredients and supplies:
11 packets of lemonade flavor @ 24c each = $2.69
Plastic cups come in packets of 80, price per packet = $2.58
Sugar: free from grocery shelf
Total loan needed: $5.22
Cost of lemonade in one cup:
Each packet of lemonade flavor makes 2 quarts = 80 cups
Lemonade for 80 cups costs $2.69
Lemonade in 1 cup costs @269c/80 = 3.3 cents
Cost of 80 plastic cups = $2.58
Cost of 1 plastic cup = 258/80 =3.23 cents
Total cost of ingredients per cup: 7 c (rounded up)
Cost of labor per cup (mix, carry to corner, 2 people jump up and down, wave, sing, and dance for 2 hours in hot sun): 15 c
Production cost of 1 cup: 7c + 15c = 22c
Profit desired: 28 c
Final total selling price for 1 cup: 50c
How many cups must we sell to pay back our loan? 522c/50c = 11 cups (rounded up)
I have already sold 1 cup to my mom; must still sell 10 more cups to pay back my loan.
All the money we get after selling the first 10 cups tomorrow is our profit.
Starting your own business is a bit like jumping from a standing position on the driveway onto a box that comes up to your thigh (with your dad spotting you.)