It’s Summer! Lemonade Stands Are Open for Business!

June 12, 2019

It’s summer, and for many kids running a lemonade stand is part and parcel of their summertime fun.  There’s good reason that the lemonade stand’s connection with youth entrepreneurship has endured – it’s fun planning it, it’s fun running it, and it’s fun spending your profits!  Parents, on the other hand, may not find the idea so enticing, as they wonder whether they are going to be footing the bill for all the supplies and cleaning up the mess!

Don’t worry, parents, because this post has got your back!  If your kids have already participated in the TREP$ project-based learning experience, launching their lemonade stands independently should be a cinch.  If not, or if they need a few reminders, here are some questions parents can ask their kids in order to help guide the young entrepreneurs to sweet success:

  • What recipe will you use?
  • Will use a powdered mix or fresh lemons? What are the benefits or drawbacks of each option?
  • How will you know if your lemonade tastes good?
  • When you make the lemonade, how will you keep everything clean/safe to drink?
  • Will you offer any additional products?
  • What are your fixed costs and your variable costs?
  • Will you work alone or recruit partners?
  • Where will you get your start-up money? Do you need to borrow it?  How will you pay it back?
  • What size cups will you use? Why?
  • How will you keep the lemonade cold?
  • What options do you have for your location? Which location is best and why?
  • When is the best day of the week and time of day to hold it?
  • How will you set your price?
  • What will you use for a stand? How will you make your stand appealing?
  • How will you get the word out, so that people come to your stand?
  • What if there are other lemonade stands that day? How will you compete?
  • How will you greet your customers and pitch your product?
  • What will you do with your profits? How much will you spend, save, invest, or donate?

Have these conversations, and before you know it, your kids will not just have had a fun afternoon selling lemonade.  The valuable business lessons they will have learned will be priceless.

9 Ways to Increase Marketplace Attendance“The Making of a Young Entrepreneur”
Share