Place, product, promotion, budget and price are the important deciding factors for a successful business. Before starting the business, decide the location as it is a key for a successful business. Choose good quality product, proper advertisement and a reasonable price to attract the customers.
How much money you are going to collect by your kids lemonade stand? Is there competition in your area as other kids are already running their lemonade stand? By visiting their lemonade stand, you can understand what are the new products they are selling and how much the customers like them.
Your ambition should not only collect money but also keep the environment clean. Decide the suppliers who give disposable cups, glasses, water, ice, lemonade ingredients and the containers to store lemonade at a competitive price. Always find out the weather condition and decide your business timings.
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