Prepare a budget that is focused on ONE product idea. In this case, you are building a model because someone has asked you to help their son/daughter
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Get it written →Prepare a budget that is focused on ONE product idea.
In this case, you are building a model because someone has asked you to help their son/daughter with pricing out a lemonade stand. The kid wants to sell lemonade to earn money for purchasing a bike that costs US$150.
Price out the cost of the lemonade and supplies and calculate a profit margin that helps the kid to know how many lemonades have to be sold to buy the bike, or how many days it might take to earn the money.
You can put notes in the Excel budget to explain your thinking, or prepare a 2-page explanation of your approach that will be posted in conjunction with the Excel model
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