TEACHING BUSINESS PROCESS
- LaunchPad Coordinating Team gives $45 Cash to each team (The $45 is startup funds)
- All receipts are accounted for.
- We will provide templates for:
- to maintain account for all receipts and how they spent the $45 (even if they spent more)
- a ledger for kids to track sales
- kids to report expenses and revenue
- All excess (not spent) returns to the LaunchPad committee
COMPLETING THE PROCESS
- If the Popup Business makes $45, there is a strong request that $45 is returned to Launchpad because that is how an investment is ultimately treated or how a loan is treated.
- If profit is made, it is at the discretion of the team to donate it back to Lincoln LaunchPad. If the teams make a profit, they are not obligated to donate the money back to Launchpad but it is encouraged even if it is part of the net revenue.
- If any amount of the $45 not returned to LaunchPad Committee (no profits made)-NO CONSEQUENCES! This is a business project for kids to learn (profits and losses)
MOST IMPORTANT
Children learn along the way what it means to break even or have a loss or exceed expectations. This is a great way for them to learn since they are not out of pocket for funds.