Business club vocab
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Transcript of Business club vocab
![Page 1: Business club vocab](https://reader033.fdocuments.us/reader033/viewer/2022061217/54b55dc24a7959b5208b458b/html5/thumbnails/1.jpg)
Business Club2013
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Lemonade Stand
A business is like a lemonade stand.
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Lemonade Stand
What experiences do you have with a lemonade stand?
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Product
The item you are selling [the lemonade].
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Budget
How much money you have/are planning to
spend to buy the materials [lemonade
mix, etc]
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Supply
How much of something [lemonade materials]
that is available.
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Demand
How much of something [lemonade] people
want.THINK: Would people want ice cold lemonade in the winter?
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Sales Pitch
What am I going to say to convince people to buy the lemonade?
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SHARK TANK Clips• Young Entrepreneurs -
http://www.youtube.com/watch?v=qFShW-qxPM4
• Smart Wheel - http://www.youtube.com/watch?v=08mCf9G9xBU
• Ellen - http://www.youtube.com/watch?v=rSvMbK0x6cA
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Marketing
How I’m going to sell the product [lemonade]. Make signs? Make a chant/song?
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Competition
Are there other kids in the area selling lemonade? Is there a
store that sells lemonade nearby? Is their lemonade
better than yours? Cheaper?
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Start Up Costs
What do we need to buy in order to prepare for the
lemonade stand?
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Business is everything from what your parents do to earn money, what the stores are doing where you buy things
and what all people do to earn money to live on. Business is about people earning money to have; the things they
need (food, house, car, clothes, education), the things they want (toys, electronics, sporting goods, books) or to do the
things they want to do (entertainment, travel, etc.).
Business is what people do after they finish going to school. School helps you to prepare yourself with many of the
basic skills you will need for business. Business includes terms like working, career, job, profession, occupation,
stores, factories, restaurants, and almost everything you are involved in outside of your family and school.
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Product
Sales Pitch
Marketing
BudgetSupply
Demand
Competition
Start Up costs