Hi friends! Spring is near and that has me very excited about my lemonade business! Every spring, I become an entrepreneur. That may seem like a big word, but it just means someone who starts and organizes his or her own business. Can you think of a business you could start? You could do plenty of things to start your own business right in your neighborhood. Maybe you could help your neighbors weed their flowers beds, walk their dogs, or wash their cars for a small payment.
When you open a business, it’s important to understand income and expenses. Income would be the money you earn. Expenses would be the money you have to spend to purchase items you need to run your business. In the case of running a lemonade stand, the income would be the money you earn from selling cups of lemonade. Expenses for a lemonade stand could include lemons, sugar, water, cups, and a poster to make a sign for your stand.
Whatever business you decide to open, remember to smile and thank your customers for helping you open a business. After the day is over, you should think about the ways you could make your business better.
A profit is the money you make once you have paid for all of the expenses for your business. Penny sold 12 cups of lemonade for $1 each for a total income of $12. However, Penny had already spent $5 on lemons. So, she must subtract her expenses ($5) from her income ($12). Can you figure out Penny’s profit?
Find game solutions at banksynergy.com/penny.