SERVING UP LEMONADE Teacher`s Guide – Youth Edition

SERVING UP LEMONADE
Teacher’s Guide – Youth Edition
Experiential and Project Based Learning
Lemonade Day uses experiential learning to help students apply classroom topics to the
world of work. When kids learn by doing, they retain significantly more knowledge than
through lecture or reading.
Over the past forty plus years, research has shown that project-based learning is
effective in helping students retain knowledge, increase achievement, and improve
performance. The ancient Chinese proverb, “Tell me and I’ll forget; show me and I may
remember; involve me and I’ll understand,” illustrates this principle.
Research has demonstrated that project-based learning can:
• Be more effective than traditional instruction in increasing academic achievement on annual
state-administered assessment tests.
• Be more effective than traditional instruction for teaching mathematics, economics, science, social
science, clinical medical skills, and for careers in the allied health occupations and teaching.
• Be more effective than traditional instruction for long-term retention, skill development and
satisfaction of students and teachers.
• Be more effective than traditional instruction for preparing students to integrate and
explain concepts.
• Improve students’ mastery of 21st century skills.
• Be especially effective with lower-achieving students. Provide an effective model for whole
school reform.
(taken from http://www.bie.org/research/study/does_pbl_work)
Project-Based Learning (Figure 1)
Do:
75% - 90%
SAY:
30% - 50%
See:
15% - 20%
hear:
10% - 15%
read:
5% - 10%
Each lesson has corresponding activities and
readings in the Entrepreneur Workbook.
Please make sure that all students you
teach have registered for Lemonade Day.
Students do not receive the backpack with
the Entrepreneur Workbook until they have
registered for Lemonade Day.
For more resources, please visit
LemonadeDay.org.
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Table of contents
HOW TO USE THE TEACHER’S GUIDE P. 4
LESSON ONE: Setting Goals & Planning Your Business P. 5
Objectives: Students will be able to (SWBAT)
• Explain why they want to start their own businesses
•Practice making decisions about discretionary spending
•Illustrate their spending, saving, and sharing decisions in a bar graph
• Repeat the term entrepreneur
• Define the terms entrepreneur and profit
• Record and discuss their lemonade business and recognize the effect
of planned and unplanned spending decisions
LESSON TWO: Budgeting & Finding an Investor P. 15
Objectives: Students will be able to (SWBAT)
• Define the terms capital equipment and consumables
• Develop a budget to sell lemonade
• Identify and secure an investor for their lemonade
LESSON Three: Advertising, Building a Stand &
Purchasing P. 19
LESSON Four: Making Healthy Lemonade & Preparing for
the BIG DAY! P. 22
Objectives: Students will be able to (SWBAT)
• Prepare for running their lemonade business
• Demonstrate effective practices of business operation
LESSON five: After Lemonade day P. 23
Objectives: Students will be able to (SWBAT)
• Measure, record, and interpret financial data
• Reflect and evaluate their results from Lemonade Day
• Plan future entrepreneurial activities
ONLINE RESOURCES FOR TEACHERS & STUDENTS P. 29
GLOSSARY OF TERMS P. 30
COMMON CORE AND JUMP START STANDARDS P. 31
TEXAS ESSENTIAL KNOWLEDGE AND SKILLS P. 32
Objectives: Students will be able to (SWBAT)
• Identify a location for their lemonade stand
• Create an advertisement to market their lemonade business
• Plan their stand design as they prepare to build their lemonade
business
• Assess cost-effectiveness when making supply purchases
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HOW TO USE THE TEACHER’S GUIDE
Thank you for choosing to lead your students through Lemonade Day. This guide goes beyond
textbooks to prepare students to own and operate their own businesses by using the lessons
they have learned in the classroom. This guide will help you lead your students step-by-step
through the process of planning their Lemonade Day experience. Can a month and a day change a
child’s life? You bet! This teacher’s guide was designed to be used in the classroom in the month
leading up to Lemonade Day. (Of course you can start even earlier.) It contains five lessons, four
to be implemented before Lemonade Day and one following the day. The activities are designed
for elementary students. The lessons are designed to reinforce entrepreneurial concepts and are
aligned to national standards and state objectives including several personal financial literacy
standards (noted as PFL Extension in this guide). When students register for Lemonade Day, they
each receive a backpack with an Entrepreneur Workbook. The workbook is designed to accompany
the lessons in this guide.
We hope you find this curriculum a valuable resource that is easy to use and enhances your
instruction. Please visit LemonadeDay.org for more resources and the latest updates. Most
importantly, we hope that you and your students have fun and make lots of money!
Lemonade Lessons and
Recommended Timeline:
• Setting Goals & Planning Your Business (4 weeks before Lemonade Day)
• Budgeting & Finding an Investor (3 weeks before Lemonade Day)
• Advertising, Building a Stand & Purchasing (2 weeks before Lemonade Day)
• Making Healthy Lemonade (1 week before Lemonade Day)
• After Lemonade Day (the week immediately following Lemonade Day)
Before You Start:
Prior to beginning the Lemonade Lessons make sure all your students:
• Have registered for Lemonade Day and received backpacks
• Know the facts about Lemonade Day (see videos on LemonadeDay.org)
• Share their previous experiences with Lemonade Day, lemonade stands, or selling
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Lemonade Day
LESSON 1
Setting Goals & Planning
Your Business
Objectives
• Students will be able to (SWBAT) explain why they want to start their own businesses
•SWBAT practice making decisions about discretionary spending
•SWBAT illustrate their spending, saving, and sharing decisions in a bar graph
• SWBAT repeat the term entrepreneur
• SWBAT define the terms entrepreneur and profit
• S WBAT record and discuss their lemonade business and recognize the effect of planned and unplanned
spending decisions
MATERIALS & SET-UP
• Writing utensil
• Entrepreneur Workbook
• Lesson 1.1 Worksheet: Decisions on Spending, Saving and Sharing
• Lesson 1.2 Worksheet: Defining Entrepreneur and Profit
• Lesson 1.3 Worksheet: Planned and Unplanned Spending Decisions
• T eacher Resource: Money Cards, Purchase Cards and Lemonade Prices (Run each set of cards on different colors of cardstock.)
• 2 -inch x 1 ½ inch post-its (20 per student), newsprint or large construction paper 12 inches x 18 inches, markers, crayons, or
pencils for labeling, ruler
• Drawing paper, crayons, markers, colored pencils, etc.
• Play money, 3 sizes of cups (8 ounces, 16 ounces, 32 ounces), muffin tin with coins sorted for making change
• Write the following on the board: Entrepreneur / En • tre • pre • neur
KEY TERMS
Business: the selling of goods or services for the sake of earning a profit
Entrepreneur: a person who starts a business assuming the risk for the purpose of making a profit
Goal: the specific task or target a person aims to achieve
Welcome
• Welcome students to their first Lemonade Day lesson. Congratulate them on their choice to participate in this project which will
allow them to make their own money by starting, owning and operating their very own business!
• Review the date and purpose of Lemonade Day (check the date for your city) and let students know that their commitment and hard
work will pay off; not only in actual cash but also in learning skills that they can use for the rest of their lives!
• Ask for a show of hands as to how many students have participated in Lemonade Day before or who have operated a lemonade
stand. Quickly ask students how much money they made with their lemonade stands.
• Review behavioral expectations including the expectation that students come prepared to every lesson with their own:
- Writing Utensil
- Entrepreneur Workbook
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Activity 1: Setting Goals
Objective: SWBAT explain why they want to start their own businesses
Read through the narrative on Setting Goals in the Entrepreneur Workbook. Prompt students to share with the class their response to
the Stop questions:
• “Have you ever felt like Joshua, Kayla or Michael?” Raise your hand if you have.
• “Tell the class about a time you wanted something really bad but did not have enough money to buy it.” Call on volunteers to share
their experiences.
• Prompt students to fill out the workbook: “Why do you want to start your own business?”
• Read through the Lemonade Lesson on page 3 of the Entrepreneur Workbook.
• Ask students to brainstorm items they would like to purchase or things they would like to do with the money from their lemonade stand.
• Prompt students to complete “Describe what you will do with your earnings;” and “What is your financial goal?”
• Prompt students to record their ideas in their workbook, along with how much money this will cost.
• Quickly allow each student to enthusiastically call out their financial goal.
ACTIVITY 2: WAYS TO USE MONEY (PFL Extension: Decisions on Spending, Saving & Sharing) – Part 1
Objective: SWBAT practice making decisions about discretionary spending
Once students have determined their financial goals for the money earned, introduce the following scenario:
You have earned $100 on Lemonade Day. You must now make decisions on the best way to use your money.
• Have your students look at their list of brainstorm items from Activity 1. Explain that some items students will be able to purchase
immediately. These are short-term goals. Other items, such as a college savings, they will need to save for over time. These are
called long-term goals.
• Explain to students that another option is to donate part of their earnings. For example, students might choose to donate to a
charity of their choice and/or to Lemonade Day to use for students who want to participate in the project next year.
• Direct students to Lesson 1.1: DECISIONS ON SPENDING, SAVING & SHARING (page 9 of the Teacher’s Guide). Explain that each
student should determine how they will use their pretend $100 in earnings. The 3 categories, short-term goals (spend), longterm goals (save) and donating to charities (share), should add up to $100. They must differentiate between short-term goals,
things they can buy now with their earnings, and long-term goals, things they must save for until they have the desired amount.
They should also decide if they will share part of their earnings. Hint: Students should complete their work in pencil to allow for
adjustments that may need to be made.
• Prompt students to complete the bottom section of the worksheet. Then select 2 or 3 students to share their ideas and explain
the rationale for their decisions. Have students share why they might want to share part of their money with a charity or why they
should save for college.
• Ask the students the following questions: Why is it important to create a plan for how you will spend your money? Why is it
important to save?
ACTIVITY 3: WAYS TO USE MONEY (PFL Extension: Decisions on Spending, Saving and Sharing) – Part 2
Objective: SWBAT illustrate their spending, savings, and sharing decisions in a bar graph.
• Using the three categories Spend, Save, and Share generated by each student in Activity 2, students construct a bar graph on 12” x
18” paper to create a visual representation. Each post-it is worth $5. Students add to find the total for each category: Spend, Save,
Share. Students may need to round in order to determine how many post-its to use. Calculators are recommended for this activity.
Example: In Activity 2, student decides to buy candy, a small pet and supplies, and a T-shirt.
Spend: $3 + $27 + $8 = $38
$38 is closest to $40
$40 ÷ $5 = 8 post-its or the student may skip count by 5’s until reaching 40
Place 8 small post-its on the row next to Spend. Write $5 on each post-it.
• Follow the same procedure for the categories Save and Share.
• Prompt students to title their graph.
Ways to Use Money
Spend
Save
Share
$5 
$5 
$5 
$5 
$5 
$5 
$5 
$5

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ACTIVITY 4: CHORAL RESPONSES FOR ENTREPRENEUR
Objective: SWBAT repeat the term entrepreneur
• Provide a visual on the board by writing the key term and the term with syllable breaks: Entrepreneur and En • tre • pre • neur
• Give students the following prompt, “I am going to say entrepreneur aloud, breaking the word into syllables as I say it” (I do)
- Teacher models saying: En • tre • pre • neur
• Give students the following prompt, “Now I am going to say the term one more time and once I point to you, we will all say the term
together” (We do)
- Teacher models saying: En • tre • pre • neur
- Teacher points to the class; teacher and students say: En • tre • pre • neur
• Give students the following prompt, “Now on the count of three I will point to you, and you will say the term together as a class”
(You do)
- Students say together: En • tre • pre • neur
• Provide feedback as needed
- For added engagement, you may also clap (in sync) as each syllable is pronounced; model this so students are clear on the
expectations
• Once students have grasped the structure of the word allow them to say the word fluently with a partner if time permits
• Call on volunteers to say, “Hi, my name is _________ and I am an entrepreneur.” (See Stop: Role Play on page 3 of Entrepreneur
Workbook.)
ACTIVITY 5: DEFINING ENTREPRENEUR AND PROFIT
Objective: SWBAT define the terms entrepreneur and profit
• Ask the students if anyone knows what an entrepreneur is.
• After students have given their ideas, refer students to the Lesson 1.2: Worksheet: DEFINING ENTREPRENEUR AND PROFIT.
Prompt students to follow along on the “What is an Entrepreneur?” section of the worksheet.
• Read the definition and context sentences for the term aloud.
• Prompt students to turn to their partner and define this term in their own words. (ex. an entrepreneur is the person who plans and
organizes and often times runs a business. The entrepreneur takes a risk that the business will do well and that he/she will make
a profit.)
• Now that you know how to say the word entrepreneur and what it means, let’s think of examples of an entrepreneur. After one
or two responses, ask the students to work with 2 elbow partners to share ideas of who is an entrepreneur. Then ask students to
share examples with the class. Students should name famous local and national entrepreneurs. For help, have students think of
commercials they may have seen on television. Examples of national entrepreneurs include: Sergey Brin and Larry Page, founders
of Google; Russell Simmons, founder of Def Jam Records; Bill Gates, founder of Microsoft; Steve Wozniak, Steve Jobs, and Ronald
Wayne, founders of Apple Computers; Mark Zuckerberg, founder of Facebook; Beyoncé Knowles, founder of House of Deréon Fashion
Line. Can anyone give me the name of a local entrepreneur? Students could also do an internet search for local entrepreneurs and
identify business owners in their community who are entrepreneurs.
• Read the “What is Profit?” section of the student worksheet to the class and ask students to follow along.
• Read the definition and context sentences for the term aloud.
• Prompt students to turn to their partner and define this term in their own words. (ex. a profit means you make more than you spend
in your business)
• Call on volunteers to share their understanding with the class.
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Activity 6: Planning
Objective: SWBAT to record and discuss their lemonade business and recognize the effect of planned and
unplanned spending decisions
• Read through the Lemonade Lesson on Planning in the Entrepreneur Workbook.
• Prompt students to complete “My Lemonade Stand” in the workbook to develop their plan
• Ask for volunteers to share the details of their business.
PFL Extension: Planned and Unplanned Spending Decisions
• Give students a sheet of drawing paper and have them draw a picture of the vision they have for their lemonade stand. They should
include the equipment and supplies that they will need. (Hint: Have students close their Entrepreneur Workbook so they do not look
at the picture on page 5.)
• After students have drawn their pictures, have each student select one item in their drawing that is essential. As students
share this item with the class, the teacher should list it on the board. Other students check to see if they have included this in
their drawing. If not, they should add it. Examples: ice chest with ice, hand sanitizer, napkins, etc. Items students omitted are
considered unplanned. (Full list of items can be found on page 5 of their Entrepreneur Workbook.)
• Direct students to Lesson 1.3: PLANNED AND UNPLANNED SPENDING DECISIONS (page 11 of the Teacher’s Guide). Discuss the
impact of having no hand sanitizer. Lead the discussion with the example provided on the handout. As you pose a question, have
students discuss with a partner the effect of that unplanned decision for one minute before sharing with the class. Sample
questions for the discussion are provided below.
- Why do you think hand sanitizer is a good idea? What might a customer do if your hands are dirty?
- How might having no ice or not enough ice affect your sales?
- You didn’t provide napkins or paper towels. How will you clean up spills?
- If you didn’t plan well and found you forgot things that you need, what can you do now?
- How is buying supplies at a convenience store different from buying at a discount store?
- What happens to your lemonade stand if you have to leave to go to the store?
- How could not planning well affect your lemonade stand?
As you question along these lines, be sure that students understand that not planning ahead of time can cost them additional time
and/or money. Planning their supplies in detail will make their day go more smoothly, allow them to focus on selling their lemonade
better, and possibly save them from spending additional money on last minute supplies.
ACTIVITY 7: MAKING CHANGE
Objective: SWBAT make change
To prepare for Lemonade Day, students will play the Making Change Game. This game will help them determine total cost for several
different sized cups of lemonade and will also help them practice making change.
Game is played using two teams. To play the game, you will need the Money Cards, Purchase Cards and Sign listed in the Materials
and Setup section above.
• Team one goes first. One player is the Entrepreneur (producer) and one player is the Customer (consumer).
• The Customer draws one card of each color.
• The Purchase Card tells what the Customer wishes to buy.
• The Money Card shows how much money the Customer pays the Entrepreneur. Student takes this amount in play money.
• Customer places his order using the Purchase Card. Entrepreneur must determine what is owed.
• If Customer does not have enough money for his purchase, Entrepreneur can tell him/her what he/she is able to buy with the
amount given.
• Customer gives money to Entrepreneur. Entrepreneur makes change and gives this to Customer, along with cups of “lemonade.”
• Customer should check his change.
CLOSURE
• Remind students when Lemonade Day will take place (check the date for your city).
• Challenge students to use the terms “business,” “entrepreneur” and “goal” when discussing their lemonade businesses with
friends and family.
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HANDOUT
ENTREPRENEUR’S Name: _____________________________________________
Lemonade Day Lesson 1.1:
DECISIONS ON SPENDING, SAVING & SHARING
Directions: Now that you have had a chance to think about how you will use the pretend $100.00, complete the chart below.
Spend
(Short-term Savings Goal)
Amount
to spend
Save
Amount
to Save
(Long-term Savings Goal*)
Share
(Donation for Charity)
Amount to
donate
Candy ($3)
$
Tablet ($399)
$
$
Movies & snacks ($10)
$
College Savings
$
$
Game room ($12)
$
Bicycle ($175)
$
T-shirt ($8)
$
TV ($300)
$
Small pet & supplies
($27)
$
Toy ($15)
$
Total
$
Total
$
Total
$
*If you keep your savings at a financial institution, they will pay you. See the example below on how interest works.
Your local bank is offering 10% interest on a student savings account. This means that for every $10 you leave in the
bank for a year, the bank will pay you $1. For every $100 you leave in the bank for a year, the bank will pay you $10. How
much do you think the bank will pay you if you leave $200 in the bank for a year? __________
Directions: Now that you have had a chance to think about how you will use the pretend $100.00, complete the chart below.
How much will you spend immediately
for your short-term goal(s)?
What do you plan to buy?
_____________________
_____________________
How much do you plan to put in savings
for your long-term goal(s)? What do you plan to save for?
_____________________
_____________________
How much do you plan to share or donate?
What charity do you plan to donate to?
_____________________
_____________________
TOTAL: _____________________
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HANDOUT
ENTREPRENEUR’S Name: _____________________________________________
Lemonade Day Lesson 1.2:
DEFINING ENTRPRENEUR AND PROFIT
KEY TERMS: WHAT IS AN ENTREPRENEUR?
TERM
DEFINITION
CONTEXT
1. T here are many responsibilities that
Entrepreneur
En • tre • pre • neur
A person who starts a business assuming
the risk for the purpose of making a profit
Part of speech: Noun
come with being an entrepreneur, such as
making sure customers are happy so that
they will keep coming back.
2. After seeing how much money my uncle
was able to make after opening his
restaurant, I knew that I also wanted to
be an entrepreneur one day.
Directions: Name as many famous local and national entrepreneurs as you can in the space provided below
NATIONAL & LOCAL ENTREPRENEURS
Example: Oprah Winfrey, Founder of Harpo Studios and OWN Network;
Todd Graves, Founder, Chairman and CEO of Raising Cane’s Chicken Fingers
TERM
Profit
Prof • it
KEY TERMS: WHAT IS PROFIT?
DEFINITION
The money gained from the sale or sales
after expenses are paid
CONTEXT
1. After subtracting the amount I spent on
ice, cups, and lemonade, I calculated that
I had made over $75 in profit!
2. In order to meet my financial goal I need
to earn at least $15 in profit per hour.
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HANDOUT
ENTREPRENEUR’S Name: _____________________________________________
Lemonade Day Lesson 1.3:
PLANNED AND UNPLANNED SPENDING DECISIONS
Directions: Look at each cause listed below. Think how unplanned decisions can affect your time, money, and customers. Complete the
chart on how not planning well can affect your business.
CAUSE
No hand sanitizer
EFFECT
Lost Time (how)
• go to store
Less Money (why)
• purchased at convenience
store for higher price
Fewer Customers (why)
• had to close stand to go to
store
Not enough ice
No napkins/
paper towels
No trash bags
No cash box
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MONEY CARDS
$5.00
$5.00
$4.00
$4.00
$3.00
$3.00
$2.00
$2.00
$1.00
$1.00
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purchase CARDS
One 16 oz
Lemonade
One 8 oz
Lemonade
One 32 oz
Lemonade
Two 8 oz
Lemonade
Two 16 oz
Lemonade
Two 32 oz
Lemonade
Three 8 oz
Lemonade
Three 16 oz
Lemonade
One 8 oz and
one 16 oz
Lemonade
One 32 oz and
one 16 oz
Lemonade
13
LEMONADE PRICES
Small Cup
8-ounce
$.50
Medium Cup
16-ounce
$ 1.00
Large Cup
32-ounce
$ 1.50
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Lemonade Day
LESSON 2
Budgeting & Finding
an Investor
Objectives
• Students will be able to (SWBAT) define the terms capital equipment and consumables
• SWBAT develop a budget to sell lemonade
• SWBAT identify and secure an investor for their lemonade
MATERIALS & SET-UP
• Writing utensil
• Entrepreneur Workbook: Planning & Budgeting, Finding an Investor
• Teacher Resource: Simple Lemonade Recipe
• Teacher Resource: Advertising Circular
• Calculator (optional)
KEY TERMS
• Budget: a list of all planned expenses and revenues
• B usiness Plan: a detailed plan of how a business is operated to reach its goals
• Capital Equipment: supplies that can be used over and over again
• Consumables: supplies that once used are gone or no longer usable
• Interest: a charge for borrowed money; generally a percentage of the money of the
amount borrowed
• Investor: a person who lends money in order to earn a financial return
• L oan: a thing that is borrowed, especially a sum of money that is expected to be paid
back with interest
• P rofit: the money gained from the sale or sales after expenses are paid
• Revenue: all money that comes into your business
Warm-up
Objective: SWBAT recall the definition of entrepreneur
• Prompt students to recall the definition of an entrepreneur.
• Let students know they will begin budgeting for their lemonade business and finding an investor during this lesson.
• Prompt students to review their financial goal.
Activity 1: Types of Supplies
Objective: SWBAT define the terms capital equipment and consumables
• Read the Budgeting section of the Entrepreneur Workbook to the class.
• Read the definitions of Capital Equipment and Consumables aloud.
• Prompt students to complete the Capital Equipment and Consumables Activity in their workbook.
- Directions: Circle the supplies listed you see in the picture and label the items “Capital” or “Consumable” based on the
definitions in the Lemonade Lesson. Examples have been provided. (Bonus – find, circle and label items not on the list.)
- Capital Equipment: empty pitcher, mixing spoon, tip jar, ice chest, table/stand, chairs, sign, markers
- Consumables: lemons, water, sugar, paper cups, napkins, ice, trash bags, hand sanitizer
- Not on list: trash can, cookies, canopy, straws, cash box
• Call on volunteers to share their answers with the class.
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