Joshua Allen teams up with Umpqua Bank to open a lemonade stand in front of his house
A Lake Oswego boy is on his way to being a tycoon, thanks to Umpqua Bank's Lemonaire Program.
Joshua Allen, a second-grade student at Our Lady of the Lake parochial school, was one of 25 children who will borrow the bank's lemonade stand this summer to explore the business world.
Allen learned about the Lemonaire Program from a story in the Lake Oswego Review and competed for the loan of Umpqua Bank's lemonade stand at the Lake Oswego Farmers' Market.
He has spent the last few weeks preparing for his business venture. With the help of his mother he has calculated the quantity of lemons, straws, lids and other supplies he will need. He was uncertain what treats he would offer as value-added enticements to the lemonade or how many staff members he could afford. The business plan he wrote calls for him to sell 15 glasses of lemonade each hour for a total of 75 glasses sold each day. A glass of lemonade will cost $2.50 and he plans to donate 10 percent of the net profit to different charities each day.
'The hardest part was the considerations,' Joshua said. 'I still have to go price shopping to see what kind of treats I can afford to give away with the lemonade.'
Joshua will be open for business from 11 a.m to 4 p.m. from Aug. 20 to 26 in front of his home, 717 Lake Forest Drive in Lake Oswego. You can't miss it: It will be the only big lemonade stand at the corner of Lake Forest and Ellis streets.
The charitable beneficiaries are as follows:
Monday, Aug. 20 - Our Lady of the Lake School.
Tuesday, Aug. 21 - Christmas In April project.
Wednesday, Aug. 22 - Buddy Walk.
Thursday, Aug. 23 - Oregon Childrens Choir and Youth Chorale (OCCYC).
Friday, Aug. 24 - Our Lady of the Lake Parish.
Saturday, Aug. 25 - Smile Train.
Sunday, Aug. 26 - OCCYC.
Umpqua Bank officials gave Joshua $10 toward expenses as well as plenty of good advice and their secret recipe for lemonade.
'Umpqua Bank has a secret recipe that is really good. I'm going to follow the recipe,' Joshua said, tossing a lemon in the air.