MET AD742 – Final Project Description
The goal of this project management is to make as much money within 30 days and to have complete control over almost every part of your business, including pricing, quality control, inventory control, and purchasing supplies. First to consider is how to deal with the weather, which can be unpredictable. Unfortunately, the weather will play a big part when customers are deciding whether or not to buy your product.
The price you charge, which will make or break this lemonade business is another factor to consider. Customers are more apt to pay higher prices when lemonades are more in demand – when the weather is hotter. As the temperature drops, and the weather turns bad (overcast, cloudy, rain), don’t expect the customers to pay nearly what they would on a hot, hazy day.
Another major factor which comes into play is the customer’s satisfaction. As you sell your product, people will decide whether or not they like it, and how much they like or dislike it. As time goes on, they’ll start to tell their friends, neighbors, and relatives, hence, your ‘popularity’. Sell a good product for a good price and business will build over time. Overcharge for inferior products, and you’ll be out of business sooner than you’d think. Another more direct form of customer satisfaction affecting sales takes place directly at the stand. As customers buy the lemonades, you’ll see some tell you what they think. If customers are enjoying their product, others are more likely to buy. If they’re expressing their dissatisfaction, other customers are more likely to take their business elsewhere
How To Start a Lemonade Stand
You Will Need
An adult to help
A serving pitcher
Ice and an ice bucket
Some money to make change
A box for your money
A big smile
· Step 1: Make a business plan
Before you make your lemonade, make a business plan. Will you have to spend any money on supplies? If you’re going to spend $5 of your own money on ingredients, for example, you’ll need to make more than $5 to make a profit, or the money you get to keep. Now you can decide how much you want to charge per cup to make sure you earn that.
Remember, if you’re setting up shop with other people, you’ll have to split the money you make with them!
· Step 2: Pick a perfect day, time, and location
Pick the perfect day, time, and location for your lemonade stand. Think about where and when the largest number of thirsty people would walk by your stand. Think hot days at playgrounds and fairs, or during little league games. Of course your front yard is just fine, too.
· Step 3: Make your lemonade sign
Make your lemonade sign using some cardboard or foam core and a large, bold marker. Write “Lemonade for Sale” with the price clearly visible. You can add a drawing of lemons or a glass of lemonade if you want. The bigger and flashier your sign, the more people will notice it.
· Step 4: Publicize your business
While “walk in” customers are usually the bulk of lemonade stand business, you might want to let your friends and family knows what you’re up to. You can either make flyers or do an email blast announcing the time, location, and date of your grand opening.
· Step 5: Make the lemonade
Make your lemonade ahead of time. You can make it from a mix, but serving homemade lemonade will make your stand special and might help you sell more. Either way, have a grown-up cut up a lemon so you can float the slices in your pitcher.
For 1 gallon of homemade lemonade, ask an adult to juice 6 lemons, and then mix that with 1½ cups of sugar and 2 quarts of water and ice.
· Step 6: Do a taste test
Now comes the fun part—drink it! You’ve got to make sure it tastes good, but don’t drink too much or you’ll have to mix up some more.
· Step 7: Refrigerate the lemonade
Pour the lemonade into a large thermos or several pitchers and refrigerate it until you’re ready to start selling.
· Step 8: Set up your table
Set up your table. You can use a folding table or some milk crates with boards on top. On top of this set a clean tablecloth and lots of paper cups. Hang or prop up your sign.
Make sure everything looks clean—the cups, table, pitcher, and even you!
· Step 9: Have change
Depending on what you’re charging, you’ll want to either have lots of quarters or single dollar bills to make it easy to make change for your customers. Keep the money safe and organized in some kind of box on the table.
If there are other stands in your area, try to make yours stand out. Put the words “Gourmet” or “Secret Recipe” on your sign.
· Step 10: Set up the lemonade
Store extra ice and lemonade in separate containers under the table so you won’t have to run back to the kitchen, and fill a see-through serving pitcher with some ice, lemonade, and cut lemons.
Don’t set out cups already filled with lemonade. Flies will swarm around them and it will look gross.
· Step 11: Attract customers
Smile and wait for customers. People like to buy from kids that smile.
Decide what to call your business. Once you have a name, start talking about what roles each person would play. Who’s going to be the treasurer because this would be the money person. Start with a new spiral notebook to track everything moving forward. Build small tables on different pages using a pen and a ruler – nothing complicated just a few columns. Use these tables to track the initial purchase list with costs. Later, use this to track each day’s earnings with who worked that day for an even split.
After the name and roles have been decided, start working on some basic marketing concepts. These included defining your product, logo, company image, and location to sell.
Budget & Finance
The first consideration to make was how to purchase the initial equipment needed to start. Find the exact cost by listing out everything that needs to be purchased.
Initial equipment list :
wood for table
paint for table
hardware for table
wagon for transport
small cooler for ice
2 – 1.5 gallon pitchers
cloth for banner sign
small box to keep money
2 extra large cans of Country Time Lemonade
1 bag of real lemons
2 bags of 16 oz. cups (24 each) these were clear disposable plastic party cups.
Here is the final list of possibilities for lemonade:
Bag of real lemons
Lemonade Drink Mix
Frozen lemonade concentrate
1 gallon jug of Lemonade drink
1/2 gallon jar of organic lemonade
For a homemade recipe, use an old fashioned hand juicer to squeeze down four lemons into juice. Then add half a gallon of water and two cups of sugar then mixed.
Then ask someone to taste test each of these options and vote. Make them blindfolded and do not label the cups so the tasters will have no idea what they were voting on.
Plan Into Action
Practice the table set up. Practice on making lemonade from the taste tests. This all made for a rather smooth process of getting things ready.
Check the weather and determine that on the day you will charge $0.50 per cup. This will work to your advantage as most people would give a dollar bill and say keep the change.
Once or twice, you will learn some hard lessons in customer service when multiple people stopped by at the same time. You might get flustered when people looked impatient while waiting. But learn to think of better ways to serve and be more efficient. Some people would come back the next time if they really liked the drink and felt the service was great.