Lemonade Day Research Paper

Starting a business is not always an easy path to success, as it requires determination to overcome obstacles that are along the way. Lemonade day illustrated that not everything always goes according to plan. Having multiple lemonade stands all in one area caused numerous challenges for our group as the competition was fierce. Although our group made some money, we could have done significantly better and donated more money to charity. In the end, lemonade day demonstrated that many things went well in our group, while there were many things that could have gone better.

When the word “Lemonade Day” comes to mind, all I can think about is how chaotic it was. The preparation for lemonade day was very unorganized from day one. After Sam wrote

At the end of lemonade day, we ended up selling seventy-nine dollars and forty cents worth of food and drinks. The downside to this was the fact that only twenty-five people ended up purchasing a product from our stand. To make matters worse, twenty dollars of our total sales came from donations which signified that we should have executed our plan differently. Giving the conditions of lemonade day, we adapted by lowering the price of lemonade from fifty cents down to twenty-five cents. This illustrated that we were driven to have as many sales as possible, although our our profit margin per drink was lower. Last year I used a similar method to my advantage by purchasing Keith Urban tickets at a third of the price. There were still multiple tickets that had not been sold, so the event promoter decided to cut the prices in order to have more people purchase the tickets. Although the profit per ticket would have gone down it was still better to make some money rather than having unsold tickets. The first thing that our group should have done differently if we were to have another lemonade day is to have better communication between the groups. This would have significantly increased our sales as numerous things did not go according to plan. If we had a mascot or even a wheel to win half off lemonade, it would have helped draw in more customers. Due to the lack of communication, these important aspects to diversifying our lemonade stand were left out. Just like in real world, if a business fails to stand out, there is a good chance that it will not be able to survive due to the competition. Another thing the we could improve upon in the future is ability to market our products more efficiently. At the end of lemonade day, we did not end up selling any tea which not only meant we lost a revenue stream but we also lost money as we had to purchase the supplies to