A freshly squeezed business idea from Brock University’s Goodman School of Business will help teach Niagara’s future entrepreneurs what it takes to turn lemons into lemonade.
Goodman Lemonade is leading a Grade 4 class at Power Glen Public School through the process of building a for-profit business. After learning some entrepreneurship basics from Goodman student leaders, the Power Glen students have been planning and designing lemonade stands that will be set up at the Brock University Farmers Market from 11:30 a.m. to 1:30 p.m. on Thursday, June 1 in Jubilee Court.
“This is a novel way for our students to share their business knowledge with the next generation of leaders and it’s a great chance for Power Glen students to gain entrepreneurial skills through experiential learning,” says Goodman School of Business Interim Dean Barry Wright.
Goodman Lemonade, which is supported by both the Goodman Student Engagement Office and BioLinc, Brock’s business incubator run by Goodman, is designed to teach the students how much planning goes into a one-day sale.
With a maximum budget provided by the Goodman School of Business, the young students have spent the last few weeks carefully crafting their business strategies and making decisions on everything from the type of lemonade being served to the garnishes and colourful decorations adjourning their stands.
Eight different lemonade stands will be on display at the Farmers Market Thursday as teams of four students from Jennifer Millin’s Grade 4 class compete for sales from Brock staff and faculty attending the weekly outdoor market.
The team with the highest profit at the end of the sale will earn the chance to choose what their class will purchase collectively with the total profits.
The project has students excitedly creating posters, making business decisions and calculating expenses while they count down the time to market day, says Millin.
“We can’t wait until we can come to Brock University and put all of our entrepreneurial skills to good use,” she says.
What: Goodman Lemonade
Who: Power Glen Public School – Jennifer Millin’s Grade 4 students
When: Thursday, June 1, 11:30 a.m. – 1:30 p.m.
Where: Jubilee Court, Brock University