Entrepreneurship For Kids - Naomi's Startup Costs

Naomi learns about startup costs for her lemonade stand. She makes a list of necessary items, calculates costs with her parents' help, and considers additional expenses like marketing. Naomi checks her savings and receives a tip on borrowing money if needed. The video concludes with a preview of budgeting basics.

What does Naomi's mom suggest she do to prepare for her lemonade stand?

• Ask friends for help

• Buy all the supplies immediately

• Make a list of everything needed

• Start selling lemonade right away

What additional costs does Naomi consider after discussing with her parents?

• Marketing and unplanned expenses

• Rent for the stand

• Travel expenses

• Employee salaries

How much money does Naomi need to start her lemonade business?

• $50

• $75

• $100

• $150

What should Naomi do if she doesn't have enough money saved?

• Wait until she saves more

• Sell her toys

• Borrow money from her parents

• Cancel her plans

What is a tip given in the video for managing startup costs?

• Hire a financial advisor

• Start with a large budget

• Borrow money from parents if needed

• Always buy the cheapest items