This summer I learned a lot about having my own business. I had so much fun baking cupcakes, making cake pops, dipping pretzel sticks in chocolate and selling them at my stand with lemonade and mango passion tea! I baked during the week and did the bake stand from 10am to 1pm on the weekends during my vacation. My mom and dad taught me many things.
Here are a some things I learned about business:
- It takes a lot of work to make and sell things
- I had to keep track of how much I spent on supplies to figure out how much to sell them for (My dad made me a COGS spreadsheet. Cost of goods sold.)
- Standing near the street to wave at cars in the hot sun was hard (I now have respect for sign spinners that I see on the street!)
- I learned how to give a “sales pitch” and tell my customers what I have on the menu that day
- I used my little sister Jessie to help make the sale. She was cute as she talked to people. She’d say things like “Are you thirsty?” My parents called her “the closer.”
- I learned how to keep 5o $1.00 bills and a roll of quarters to start in my cash box for change. This is called starting “till.”
- Anything I make over the amount I started with in the cash box is my earnings.
- The amount that I earned minus expenses is my profit.
- Pick a charity and donate some money. It feels good to help out!
I can’t wait for school to start! I wrote a letter to my principal and will include 20% of my sales to my school. This was a lot of fun! Anyone can start a business and sell things. You just have to work hard and you can do it.