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Session 10: Entrepreneur Retail Challenge

Updated: May 11





Final Project: Lemonade Stand Challenge


Let’s Put Your Skills To The Test!


All information should be written on your laptop in a word processing program or GOOGLE Docs. You also may use paper and pens/pencils to illustrate your idea! CANVA.COM can be used to develop your branding and marketing material.


Materials Needed:

  • Paper and writing utensils: OR Access to CANVA.com to create marketing materials online!

  • Access to digital devices if digital marketing components are involved.


Teacher's Note:

Provide guidance on researching realistic costs.

Encourage creativity and teamwork.

Facilitate access to any required materials or information.

Here's how you could structure this challenge for a group of 10 kids, forming 5 teams of 2. Or form teams of 3 if you have more in the group and each student will take on a different role.


Creating a Lemonade Stand Challenge is a fantastic idea for teaching about entrepreneurship and business basics in a fun and engaging way. You can use these same sales and marketing methods to create any type of business like selling candy, crafts, jewelry, and even service business. However, today our challenge is all about lemonade stands!


You are going to do the planning for your businesses in teams and we’ll find out how successful you can be. WHO WILL CREATE THE COOLEST AND MOST SUCCESSFUL LEMONADE STAND BUSINESS to win the most potential customers? Remember, this is all about planning. You won’t actually be able to make and sell Lemonade. You do that outside of class if you so choose. After you have all your information prepared, branding, marketing plan, and costs, you’ll share (present) with the class. The Instructor (and/or other assigned students) will be the judge of the winner!

Duration: 1 - 2 hours



Phase 1: Business Preparation:

READ Through This section with your team and begin thinking about your plans. don't make notes yet...


1. Concept Development:

  • Each team decides on a unique selling point for their lemonade stand. This could be a special recipe, added fruits (or foods), a cool location, an innovative serving method, or a unique theme.

2. Brand Creation:

  • Teams create a name, logo, and slogan for their lemonade stand that reflects their unique concept.

3. Business Plan Sketch:

  • Teams outline a simple business plan, including cost of production, pricing strategy, and expected profit.

4. Product Design:

  • Teams design their lemonade recipe and think about the presentation (cups, straws, decorations).

5. Role Assignment:

  • Each team member picks a role (finance manager: expenses/profits, marketing director; branding, producer researcher: cost of supplies and setting sales prices, product designer). You can also work on all of these together!


Phase 2: Pre-Marketing Strategy:

READ Through This section with your team and begin thinking about your plans. don't make notes yet...


1. Advertisement Creation:

  • Teams create posters or flyers to advertise their lemonade stand.

2. Social Media Campaign Plan: IF YOU WANT TO USE SOCIAL MEDIA...

  • Teams draft ideas for social media posts or create a mock-up of a social media page for their stand.

3. Sales Pitch Preparation:

  • Each team prepares a short sales pitch to convince customers why their lemonade is the best


Phase 3: Presentation and Judging (20 minutes)

READ Through This section with your team and begin thinking about your plans. don't make notes yet...


1. Team Presentations:

  • Each team presents their business plan, marketing strategy, and sales pitch.

2. Judging and Feedback:

  • A panel of judges (teachers or selected students) evaluates each team based on creativity, feasibility, and overall presentation. Feedback is provided to each team.

3. Winner Announcement:

  • The winning team is announced based on the criteria set by the judges.



LETS START CREATING!


COPY AND PASTE THE BUSINESS PLAN AND BUDGET PLAN IN YOUR DOCUMENT ON YOUR LAPTOP. COMPLETE everything to the best of your ability. Write down all of your ideas here!


Business Plan Worksheet (45 Minutes)


Instructions for Students:

  • Conduct research to estimate costs realistically.

  • Be creative with your business concept and marketing strategies.

  • Work as a team to fill out each section.

  • Use this worksheet as a guide to develop your lemonade stand business plan.

  • WHO WILL CREATE THE BEST BUSINESS!


1. Business Name and Concept:

Name of Business:

  • Unique Selling Point (What makes your lemonade stand special?):

2. Branding:

  • Logo Sketch:

  • Slogan:

3. Product Description:

  • Lemonade Recipe (Ingredients & Preparation Method):

  • Presentation (How will you serve it? Any unique packaging?):

4. Marketing Strategy:

  • Target Audience (Who will buy your lemonade?):

  • Promotion (How will you advertise your stand?):

  • Social Media Plan (If applicable):

5. Roles and Responsibilities:

  • Team Members:

  • Assigned Roles (Who is in charge of what?):

6. Goals and Objectives:

  • What do you hope to achieve? (Sales targets, customer numbers, etc.)


Budget Worksheet


1. Start-Up Costs:

  • Ingredients (List each ingredient and its cost):

  • Supplies (Cups, straws, napkins, etc. - list each item and its cost):

  • Marketing (Cost of materials for posters, flyers, etc.)

2. Total Start-Up Costs:

  • Sum of all costs above.

3. Pricing Strategy:

  • Price per Cup of Lemonade:

  • Reasoning for Pricing:

4. Break-Even Analysis:

  • How many cups do you need to sell to break even? (Total Start-Up Costs ÷ Price per Cup)

5. Sales Forecast:

  • How many cups do you realistically expect to sell?

6. Projected Profit:

  • (Price per Cup × Number of Cups Sold) - Total Start-Up Costs


GRAND FINALE: Prepare a 2 to 5-minute presentation convincing the judge that your business will be the best, most unique, and make more money than your competition (your classmates). You can use your notes, drawings, and CANVA pictures. The instructor will decide on the winning presentation and the winning business!





 

OPTIONAL ACTIVITY IF NEEDED...


CHALLENGE #2. ACTUALLY EARN CASH: THE WINNER IS THE ONE WHO EARNS THE MOST MONEY ACTUALLY SELLING THINGS.


Overview

Welcome to the Retail Entrepreneurship Challenge! This engaging activity allows students to get hands-on experience in running a small retail business. With products like keychains, paper crafts, items from home, craft creations, bracelets, or earrings up for sale, participants will go through the whole business cycle, from crafting their brand to making sales. Who will become the top entrepreneur and sell out of their items AND make the most money?


Duration

1 Day for the sales challenge, plus preparation and follow-up time for research, branding, and analysis.


Learning Objectives

  • Practice branding, product pricing, and customer engagement.

  • Gain practical skills in marketing, selling, and record-keeping

  • Develop creativity, communication skills, and financial literacy

Materials Needed

  • 5 Items to sell: Find items at home (with parent's permission), OR make items with craft kits OR make from paper. BE CREATIVE!

  • Use sales forms for tracking

  • Smartphones or cameras for digital outreach

Steps


Business Creation

  1. Brand Identity: Come up with a creative business name and design your unique logo on www.CANVA.com (you may use the free CANVA account).

  2. Market Research: Analyze market trends to set a competitive yet profitable pricing strategy. How much should you charge?

  3. Target Audience: Identify and list potential customers for your products. What type of customers will purchase your items?

Marketing and Sales Preparation

  1. Elevator Pitch: Create a captivating 30-second sales pitch to describe who you are and what you’re offering. If possible, record a video to be sent out to potential customers.

  2. Digital Marketing: Take photos of your products and promote them on social media platforms if allowed. Feel free to text product pictures or your video to people from your customer list to generate interest.

  3. Payment Options: Decide how you'll accept payments. Discuss digital payment options with your parents.

Time To Sell

  1. Set Up: Arrange or package your products attractively, keeping your provided sales form ready for recording sales.

  2. Engage and Sell: Use your elevator pitch and sales techniques to engage potential customers and make sales. Ask “Which one would you like to purchase?” NOT “Do you want to buy one?”

  3. Record-keeping: Keep records of each sale on your sales form.

Rules and Guidelines

  • A maximum of one item can be sold to each customer.

  • Parents are not allowed to be customers.

Assessment and Learning Outcome

  1. Wrap-up Discussion: At the end of the challenge, share your experiences, strategies, and what you’ve learned about running a retail business.

  2. Declare Winner: The participant who returns the next day with the highest earnings is declared the winner.

  3. Reflect: Understand that mastering the sale of one item sets you on a path where you can potentially sell thousands.


By the end of this challenge, you'll have firsthand experience in setting up and running a small business, along with valuable insights into entrepreneurship!


 

You can keep track of your own sales or print and use this form:


Retail Challenge Sales Form
.pdf
Download PDF • 9KB









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