A seven-year-old budding entrepreneur's dream of owning a pony has come true after three years' hard work.

Sabastian Lucas from Scarborough, north of Brisbane, set up a business selling lemonade out the front of his family's home to raise the funds needed to buy his new pet.

Sabastian sold lemonade and iced teas from the front of his parents' house. ( Facebook: Juliana Kent )

Sabastian's lemonade was made the traditional way, with lemon and sugar, and became so popular that he would regularly sell out.

"I was selling the lemonade for 20 cents a cup and I saved up for nearly three years."

He said when he first laid eyes on his new pony Tom this week he was over the moon.

"I was so happy as he was so big and I wasn't expecting a big pony.

"I felt really happy because a pony was here.

"I saved nearly $3,000 to buy Tom.

"I've ridden him nearly 10 times in five days."

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Sabastian's mother Juliana Kent said he was always dedicated to make the money needed.

"For three years he kept putting money in a jar and kept praying to the pony gods ... we had to embrace it."

She said she found the 13-year-old schoolmaster pony earlier this month and knew immediately he would be perfect.

"Last night Sabastian fell asleep on him after an hour of patting him."

The family have since moved from a suburban block to acreage to embrace their new four-legged addition, and Sabastian and Tom will train at the Cedar Lake Equestrian Centre near the Gold Coast.

"I'm still learning but I can trot and walk as they're easy but cantering is hard," Sabastian said.

He now plans to save money for a new saddle and health care for Tom.

"I'll get back to making lemonade to pay for that," Sabastian said.