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“Today Shapes Tomorrow

 Published Every Monday    Volume  127 Special Edition August 3, 2009

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Chapter 1 – Work hard, plan hard – Do your home work, it pays!

First, you have to decide on a game plan. How and what you are going to do?  In other words, you will have to outline a business plan to run the Lemonade-Stand-Company.  For the business plan you will have to decide on the following-

Business Plan

1. Products/Services – What are you going to sell?  

  • Type of lemonade – Pink or regular lemonade.

  • Serving size – small, medium, or large, or all of the above.  

  • To keep it simple, you decide to sell medium size lemonade with freshly squeezed lemons from your mom’s secret recipe.   

2. Customer Needs – Is there a need for such product?  How many do you plan to sell in a week?

  • Let us say, your house is on a busy street where your Lemonade-Stand-Company is going to be visible to the neighborhood.  You estimate that you can easily sell at least 10 lemonades per day for one dollar each.  On a nice warm sunny day you could even sell 20 lemonades.

  • To start, you decide to sale 10 lemonades a day for a dollar each.

3. Intellectual Property(IP)- Your mom’s super secret recipe (the business secret)

  • For 6 servings, mix 1 cup of freshly squeezed lemon juice, 1 cup of sugar, and 5 cups of water. Serve it with ice and a sliced lemon. 

4. Material – What do you need to make 10 medium cups of lemonade?

  • Lemons, Sugar, Water, Ice, Serving cups, Straws, and Napkins

  • You may want to buy these for a month in bulk from stores like Wal-Mart, Sam’s Club, or Costco to save on material cost.

  • We will estimate material cost in the next Chapter. 

5. Fixed Assets – What items are needed to set up a lemonade stand?

Let us say, you make a wise decision of delaying to buy the major expensive items.  For now, you decide to borrow from home.  For example, 

  • Chairs borrowed from home = 2

  • Table borrowed from home = 1

  • Umbrella borrowed from home = 1

  • Cooler borrowed from home = 1

  • Jugs borrowed from home = 2

  • Cash box = 1

6. Financing – How will you finance operation of the Lemonade-Stand-Company – Money, Money, Money!

  • You will need to decide how to get the money, say $100 (or in other words secure the financing) to start the Lemonade-Stand-Company. 

  • Can you get money from your friends, family, and of course parents.

Learn more about…

What is Credit History?  Why is it important to have a good credit history? Volume 12.    

What is Economy, Business, Workers, Goods,  Services,  Stock, DOW, S&P500, and NASDAQ in Volume 16. 

Does it pay to study hard? Volume 17.    

What is Currency and Foreign Currency Exchange rate? Volume 14What is stronger or weaker currency? Volume 20. What does the dollar slide mean? Volume 32.

How does money grow in a bank? Volume 21. 

What is Fed Funds rate and Discount rate? Volume 22

What does the interest rate cut mean for you? What is APR? Volume 23. 

How to read stock information? Volume 25. 

What is “Black Monday”…Crash of 87”? Volume 31.

Who are CEO, CFO, Shareholders, and the Board of Directors? What is SOX? Volume 33

What does “$4.95 + Tax” means?  Volume 47.

What is a Recession?  What is a Depression? Volume 48.

What is Mergers & Acquisition (M&A)?  What is a Merger?  Volume 49.

What is ADR?  Volume 62.

What does buying back of shares means?  Volume 63.

Why is consumer confidence so important?  Volume 64.


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