Rochester, NY, August 03, 2009 --(
PR.com)-- A company that provides money-making ideas to young entrepreneurs is offering a $100 cash prize to kids selling "free" lemonade between now and Labor Day 2009. The purpose of the contest is to test the theory that offering the product for free will make more money for the lemonade stand owner as a result of higher "tips" revenues. Contest details are available at
www.findingbenjamin.com/2009/07/attention-all-lemonaders.
Lemonade stand owners are asked by JFH Innovative LLC, through its Findingbenjamin.com website, to conduct an experiment where they offer free lemonade for at least one hour and then sell lemonade at their usual price for an equivalent period of time. The operators may encourage and accept tips during both sessions. Total revenues and average per-sale revenue are then compared to determine the approach that is most profitable. Submitting the data to FindingBenjamin.com makes the proprietor eligible for the $100 drawing.
"Most people assume you must charge a fair price to make a profit on the sale of a product, but many service providers know that tips are a more important source of revenue," says Megan Hurley, co-founder of JFH Innovative LLC and manager of the Findingbenjamin.com website. "Our Lemonade Stand Challenge is designed to show kids that selling lemonade is at least in part a service business. I think we may see some surprising results."
JFH Innovative LLC, a Pittsford, New York-based company headed by Megan, who is 23, and her 19-year old brother Chris Hurley, launched FindingBenjamin.com in June 2009. They produce articles and videos describing interesting ways that young entrepreneurs can make money as well as ways to avoid money scams. A "benjamin" is the slang term for a $100 bill.
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