Welcome to Richardson Lemonade Day 2019!
Lemonade Day uses project-based learning to help students apply classroom standards into the realistic world of work. Lessons will prepare them to create a business plan for a lemonade stand to present to a loan board. Their loan, if approved, must be repaid (including interest) with the revenue generated at their stand. Students will choose a charity to share some of their profits with. So the end result is students are taught the philosophy of spend some, save some, share some.
Handouts & Links
Parent Letter 2019
Loan Board Presentation
Students are working on their business plans and presentations for our loan board. Each team will make a presentation to a panel comprised of community members and school personnel to ask for a loan to start their business. This loan board will take place on Friday, May 10 from approximately 10:00-11:30 at Western Reserve Hospital. Each group's presentation will last approximately 5 minutes.
Lemonade Day
Date, Time, Team, Location
Lemonade Day Vocabulary
Goal – a specific task or target a person aims to achieve
Entrepreneur – a business owner Business – the selling of goods or services to make a profit Goods – things you make and can touch (cookies, pencils, bracelets…) Services - acts that you perform for someone (haircut, babysitting, mowing grass…) Profit – money gained after expenses are paid Loss – when you do not make enough money to cover your expenses Sale – transaction that occurs when a good or service is traded for a form of payment Investor – a person who lends money in order to make money Loan – money that is borrowed, that is expected to be paid back with interest |
Interest – a charge for borrowed money, usually a percentage of the amount borrowed
Expenses – all costs related to your business Revenue – all money that comes into your business Budget – a list of all planned expenses and revenue Capital equipment – supplies that can be used over and over again Consumables – supplies that once used are gone or no longer usable Advertising – everything that you do to tell customers about your business or product Customer service – how businesses interact with customers and take care of their needs Donation – money or goods given to an institution or individual that improves their condition Productive resources - the resources used to make goods and services Risk – you might make a profit, you might not |
Charities for Teams to Consider
Lemonade Day FAQs
Q: Do the kids need to make their own stand?
A: No! Although teams are certainly welcome to make a stand, most teams just set up borrowed tables and chairs. If students do make an actual stand, that money should be accounted for in their budget.
Q: Who decides the price?
A: The team decides the price after much work and calculations in math class.
Q: Is it ok if we make changes to the budget? Can we add or take away things?
A: If possible, the budget should be left as it was done in class. However, we realize that things come up and students might not need certain items or do need items they didn't originally think they needed. The team should be in agreement before adding or deleting anything!
Q: Do they need to make poster board signs?
A: Each team makes one sign in language arts to be displayed at the loan board. That sign can also be used again at the stand. Teams are encouraged to create as much signage as they want, but again this must be allocated for in their budget.
Q: What if the whole team can't get together for the shopping and/or making the lemonade?
A: We know that everyone is busy! If it just ins't possible for the entire team to get together, gather as many members as possible. We need to be understanding of everyone's schedules as this is an out of class project.
A: No! Although teams are certainly welcome to make a stand, most teams just set up borrowed tables and chairs. If students do make an actual stand, that money should be accounted for in their budget.
Q: Who decides the price?
A: The team decides the price after much work and calculations in math class.
Q: Is it ok if we make changes to the budget? Can we add or take away things?
A: If possible, the budget should be left as it was done in class. However, we realize that things come up and students might not need certain items or do need items they didn't originally think they needed. The team should be in agreement before adding or deleting anything!
Q: Do they need to make poster board signs?
A: Each team makes one sign in language arts to be displayed at the loan board. That sign can also be used again at the stand. Teams are encouraged to create as much signage as they want, but again this must be allocated for in their budget.
Q: What if the whole team can't get together for the shopping and/or making the lemonade?
A: We know that everyone is busy! If it just ins't possible for the entire team to get together, gather as many members as possible. We need to be understanding of everyone's schedules as this is an out of class project.