On Wednesday, July 20, Vogel day campers got to interact with a school of sharks – without visiting an aquarium, a zoo or an ocean – and learned valuable business lessons along the way.
In partnership with Bank of America, Vogel provides financial literacy education for the school-age children (kindergarten through 5th grade) attending its summer camp. The agency recently decided to reinforce these lessons by hosting its own version of the TV show Shark Tank. Just as budding entrepreneurs pitch their products to a panel of investors on the show, three teams of Vogel children presented their products and business models, along with slogans, advertising, and budgets, as part of Vogel Tank.
The Challenge
Each Vogel Tank team was tasked with creating its own recipe for lemonade and developing a business proposal for selling it. The children had to make a budget, purchase supplies, concoct a special recipe and prepare a compelling presentation for the panel of investors.
The children were asked to sell lemonade as a tie-in with Lemonade Day – an educational program that teaches the entrepreneurial skills necessary to start, own and operate their own business. Launched in 2007 in Houston, Lemonade Day is now a nationwide program.
The investors for Vogel Tank included Hope Catterton and Johnathan Saxer from Bank of America as well as a familiar face, especially in the Dallas area—Mark Cuban! The Dallas Mavericks owner and Shark Tank star’s three children served on the panel with him. Lemonade Day President Reid Walker and Tiffany Rubi, Executive Director of Lemonade Day Dallas, completed the lineup of Sharks.
The Competition
The teams took turns presenting information about their products, including posters, sales goals and pricing, and passing out samples. Each pitch had a unique twist that made its team stand out. Team “Cool Lemonade” had a sunglass-wearing lemon mascot and a super-bright team leader. Team “Speedy Lemonade” offered a choice of four different colors of lemonade. And Team “Breeze Lemonade” sold its product both by the cup and by the gallon.
The Results
All three teams did a great job, but the Sharks decided to invest in Team “Cool Lemonade.” On July 27, the campers got to sell Cool Lemonade in the lobby of Bank of America Plaza.
Vogel gratefully thanks Bank of America, Mark Cuban & family and the representatives from Lemonade Day for helping make “Vogel Tank” a memorable learning experience for our school-age children.
