Local elementary students received a sweet introduction to entrepreneurship this spring while planning lemonade stands with the help of Brock University’s Goodman School of Business.
Goodman Lemonade is leading Grade 4 students from Glynn A. Green Public School in Fonthill through the process of building a for-profit business. After being guided through the entrepreneurship basics, the students have been designing lemonade stands that will be set up at Brock University from 11:30 a.m. to 1:30 p.m. on Thursday, June 6 in Jubilee Court.
This is the third year the University has hosted Goodman Lemonade. Previously, Grade 4 students from Cardinal Newman Catholic Elementary School in Niagara Falls and Power Glen School in St. Catharines participated in the initiative run by Goodman Group Venture Development (formerly BioLinc) and student club Brock Innovation Group.
“We want to introduce the concept of entrepreneurship at a young age,” said organizer Cassie Price, Goodman Group Venture Development Co-ordinator. “It’s also a great opportunity to have our student leaders work with the community.”
Divided into seven teams, the students will compete to see which group can make the most profit with the $50 seed money they were given. The students will use the market research they completed to customize their product and stand to maximize their returns.
For Goodman Dean Andrew Gaudes, the event represents a chance to introduce basic business skills to young students early and get them exposed to what goes into running your own company.
“The creativity and energy that comes from children who are having their first experience with an entrepreneurial venture is inspiring,” he said. “It underscores the importance of presenting alternative career options, such as running your own business, as early as possible.”
The activity ties into the Grade 4 curriculum well, reinforcing concepts students have learned in class this year, including measuring volume, using decimal points, plotting data and making graphs.
Dierk Mueller, one of the teachers participating this year, said he’s surprised at how much his students have enjoyed participating in Goodman Lemonade.
“I knew they would like it, but they have taken it far more seriously than even I anticipated,” Mueller said. “My students ask me every day if they can work on their signs, the advertising and the planning.”
With their menus finalized and pitches practised, it all comes down to the sale. The public and Brock community are invited to support these young entrepreneurs Thursday, June 6 at Brock’s Backyard BBQ in Jubilee Court from 11:30 a.m. to 1:30 p.m.