Lemonade stand teaches students about setting up a business

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Today’s weather couldn’t be more perfect to set up a lemonade stand, but a group of students enrolled in McMaster University’s business program found out today that it’s not as easy as you think. They learned the in’s and out’s of setting up their own shop by serving up some cold refreshments. The program is called DeGroote Synergy and students set up two lemonade stands hoping for some good sales. It turns out pink lemonade is more popular than yellow but selling it was a challenge.

You’d think with the scorching heat this would be an easy sell. “Yeah, its actually tougher than a lot of people think” says student Hassan Kiani “we actually have to go out and get the customers.”

Setting up lemonade stands is just one way DeGroote Synergy students learn about marketing, finance, innovation and entrepreneurship. “Parents are very excited about entrepreneurship because that’s very much trending at the moment, in terms of students having the ability and the courage and passion to be able to do that sort of thing” explains Program Coordinator Anna Pocrnick.

The students work within certain rules. “We get a budget of 50 dollars” says student Isabella Herrera “we have to stay in the budget and buy whatever we need for a lemonade stand and buy whatever we need for it to last 2 hours for 2 days.”

All proceeds from the sale of lemonade go to the McMaster Children’s Hospital.