Competitive Lemonade Stands

Lemonade stands have long served as a model for teaching entrepreneurship. In a twist onLemonade stand 2014 arts entrepreneurship Lemonade stand 2 2014 Lemonade stand 3 2014 this old game, students learn to brand their concept, barter for goods and develop effective sales strategies.

Learning Outcome:

Students practice and test sales strategies.

Students learn to effectively compete in a mock market.

Developing different design concepts for their lemonade stands, students learn to brand their concepts. 

How to Play:

Students will be divided randomly into four or five groups, depending on number of students within the class. Stationed at major entry/exit points of their college/university groups will compete against each other, in the process of bartering and trading goods for lemonade. No cash may be received. Rather, the lemonade-providing groups must convince those who want lemonade that:

1. They want lemonade

and

2. To exchange something (objects only) that is of greater value than the budgeted value of the lemonade.

Each group will face one another. They will be selling the exact same product, made in the same way. With this in mind, each group must brand their product and sell it in such a way, so as to gain more accumulative value than their competing teams.

At the conclusion of class, students will decide, by popular vote, which group has amassed the greatest amount of value. The group with the greatest perceived value wins this portion of the game.

Tips:

By bartering, rather than receiving cash, students practice the age-old practice of bartering and avoid tax implications found with the handling of cash.

As is typically the case with entrepreneurship games, the students’ story and pitch play a key role.

If you would like to use these games in your own classroom, please do! If you do, let me know how how it goes and if you have suggestions for modifying a game. 

I can be reached at jdhart@smu.edu

Creative Commons License
Competitive Lemonade Stands by James David Hart is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.

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About James Hart

Jim Hart, currently serves as Director of Arts Entrepreneurship at Southern Methodist University, Meadows School of the Arts. Hart is also the founder of The International Theatre Academy Norway.
This entry was posted in Bartering, Branding, Market Competition, Uncategorized and tagged , , , , , . Bookmark the permalink.

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