|
|
 |
|
Lessons
from the Lemonade Stand
July 2007 |
 |
In this Issue
Spotlight: Beverage business basics can help you
Down-to-earth Solutions:
'Grown Local' logo debuts
Stellar Stats:
"Lemon-aid" and soda pop
Starlite: Try running your own lemonade stand
Welcome
On a sweltering summer day, a glass of ice-cold lemonade from a
sidewalk stand is just about paradise to a parched throat. Not only
does it quench your thirst, its purchase also helps a young
entrepreneur learn a lot about business basics. Read on for some
helpful reminders for yourself, too! |
|
|
|
 THE SPOTLIGHT:
"Beverage business" basics
If youngsters in your home or neighborhood are hankering to earn
some summer savings, perhaps a lemonade stand is just the answer.
Chances are the crew can have some fun and make a profit at the same
time, as long as they follow a few important guidelines. Here are
seven that we would recommend:
|
1.
|
Pick the right spot.
OK, you want to set-up a stand. But should it be
at your house or your best friend’s house? Who
has the best location, the top visibility, and
parents who can be available to help oversee the
operation? The ambitious youngster will go where
the traffic and support are highest. |
|
|
|
2. |
Find the right fruit.
To make good lemonade, you need good
lemons (or a good lemonade mix!). Focus on
selling a great product and you’re halfway home. |
|
|
|
3. |
Get your customers’
attention. No one will stop to buy
your citrusy swizzle if they don’t know you’re
there. Make yourself visible. Use an attractive
sign. Flag down your prospects. Balloons always
grab attention. Be assertive! |
|
|
|
4. |
Time it right.
Don’t set-up shop on a cool, rainy date. Wait
until the time is right…but be ready to step up
production when the temperature soars. |
|
|
|
5. |
Charge a fair price.
You deserve a profit. Your customers
deserve a reasonable deal. Don’t get too greedy,
but don’t underestimate your product’s worth,
either. |
|
|
|
6. |
Get customer feedback.
Ask buyers if they liked your
product. Then ask what you can do better next
time. You’ll get a lot of helpful information!
|
|
|
|
7. |
Always say “thank you.”
Just like your mom said, the words
are magic. |
Consider these lemonade
stand strategies as they relate to your business. What
can you learn? What can you change? Where do you need
assistance? M45 can help you with product promotion and
pricing, customer research and satisfaction measurement,
customer appreciation strategies, signage, logo and
identity development, media selection, and planning.
(Our research group can even find you the world’s best
lemons!) Don’t let your business go sour by ignoring
tried and true marketing principles. Get back to the
basics. |
|
|
|
DOWN-TO-EARTH
SOLUTIONS:
Local legumes (and other products!) get new look
 Fresh, wholesome, locally grown food just got easier to spot,
thanks to a new logo M45 developed for the Northwest Illinois
Local Foods Task Force and the University of Illinois Extension.
The new “grown local”
logo uses
simple lines and bright colors to create a visual that can
interpret the curve of the earth, a person rejoicing, or food in
a basket. For maximum versatility, the image was intentionally
designed for broad application. So, it looks equally appealing
in black and white or in color; or on very small items, like
buttons and stickers, as well as for larger uses, like signs and
displays. M45 coordinated the production of all these
promotional materials for the logo’s recent launch.
More logos.
|
|
|
|
STELLAR STATS:
 Some folks need “lemon-aid”
Have you ever bought a product that seemed defective
from the start? You know what we mean—a “lemon?”
All 50 states and the District of Columbia have some
kind of
lemon laws. In Hawaii, for example, the state’s
Department of Commerce and Consumer Affairs
handled 71 cases and helped Hawaii consumers recover
more than $1 million during 2006.
 Some folks prefer soda pop
Do you or your kids have a preference for fruit juices
over soft drinks? If so, you may be in the minority. In
the United States over 216 liters of soft drinks are
consumed per person per year, compared to 42.8 liters of
fruit juice per person. In comparison, Germans consume
approximately 72 liters of soft drinks and 38.6 liters
of fruit juice. For a worldwide view,
click here.
|
|
|
“At my lemonade
stand I used to give the first glass away free and charge five dollars
for the second glass. The refill contained the antidote.”
– Emo Phillips, U.S. comedian
|
|
STARLITE:
Twice as creative and at least a third less serious than your average
newsletter copy
C’mon…can you win the lemonade game?
Think you can make some moola running a lemonade stand? Maybe…if your
ice doesn’t melt and bugs stay out of your sugar. Test your acumen at
http://www.lemonadegame.com/.
Pop vs. Soda
Which is correct? It all depends on where you live. If you want to weigh
in, vote here.
Thought for the Day: There’s no such thing as a pink lemon.
|
|
|
Subscription
Information |
|
To receive a copy of
M45 Momentum each month, click
here.
To be removed from the M45 Momentum distribution
list, click
here.
To visit the M45 Web site, click here.
|
|
|
M45
Marketing
Services |
|
524 West Stephenson Street, Suite
100, Freeport, IL 61032
Phone: 815-232-2121 Fax:
815-297-0166
www.m45.com |
|
