“An investment in knowledge pays the best interest.” - Benjamin Franklin

Now that you have a plan and a budget for your business, you need to have enough money to make it happen. If not, you will need to get a loan. “An investor is a person or organization willing to lend you money.” They expect you to pay back what you borrowed, plus an additional amount known as interest, which is the fee charged for borrowing money.

Someone could lend you money because they care about you and want to see you learn about business. Or maybe they want to make a little money by lending you money. When discussing the possibility of investing in your lemonade business, you should act professionally, dress nicely, be polite, and smile. Be prepared to share your plan, budget, and goals with them. They might want to hear what you hope to learn through the Lemonade Day experience.

Schedule a time for you and your business partner to talk to a potential investor about an opportunity. In preparing for that meeting, keep in mind that a loan agreement generally includes four things:

  1. The amount to be borrowed
  2. The amount to be paid back as interest
  3. A deadline to repay the loan
  4. What happens if you fail to repay the loan

“Use the loan agreement provided in the workbook to put your proposal in writing. Let your excitement for Lemonade Day show and don’t forget to thank them for their consideration!”

When considering an investor, make sure you choose someone who believes in you and your business. Maybe your parents, grandparents, older siblings, or a neighbor would be interested in helping you achieve your goal on Lemonade Day weekend. Be sure to check out all six ways to participate in Lemonade Day My Way from Thursday, August 20 to Sunday, August 23.

Follow Lemonade Day Southcoast on Facebook for more tips, tricks, and to show everyone what you're doing to help build your small business.


Lemonade Day Southcoast 2020 is made possible by support from our sponsors including BayCoast Bank, Andrews Fruit & Produce, 7-11 Mattapoisett, Auclair’s Market, Care Free Homes, Cape Air, Muffler & Brake Complete Car Care, Mosquito Squad of Southeastern Mass, and Interiors by Paul Chaisson.

 

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