The Caring Adult Guide is designed to help you help your youth get the most out of Lemonade Day. We've posted definitions of terms used in the guide for your convenience.
- Entrepreneur - one who organizes, manages and assumes the risks of a business or enterprise.
- Risk - the potential of losing money that an investor takes when making a loan.
- Profit - the amount of money you receive from the sale of lemonade.
- Revenue - the amount of money you receive from the sale of lemonade.
- Total Revenue - the total amount of money you receive from all lemonade sales and tips.
- Expenses - the cost of all supplies and consumables.
- Capital Equipment - the items that you may purchase one time and can be used over and over again.
- Consumables - the items you purchase that, once used, are gone and cannot be used again.
- Employee - a person working for a wage or salary.
- Financial Goal - a goal that is set based on financial objectives.
- Budget - a list of expenses and projected revenue that helps the entrepreneur make projections on the financial side of business.
- Interest Rate - the % of interest you will pay your investor for loaning you the money for your lemonade day supplies.
- Loan - money a person or bank lets you borrow for a certain period of time, but expects repayment with interest.
- Investor - a person who provides money to a business with the expectations of making more money by the repayment of that loan with interest.
- Make Change - when a customer purchases lemonade from you they may not have the exact amount of money it costs. So they will give you more money than it costs and expect you to return the remaining money over the cost of the lemonade.
- TIP - is an acronym for To Insure Promptness. It effectively means that customers will often give you money if they believe you have given them good service.
- Advertising - is a form of communication whose purpose is to inform potential customers about products and services such as lemonade for sale. It often describes the product and what it costs.