April 5, 2012 § Leave a comment
Business. I love owning my own and I am excited to share the passion with anyone.
Kids are a particularly great audience because they are game for anything. A kid’s first business is often opening a lemonade stand. That concept is being used to more formally – but still in a fun way – to teach kids about business by a group called Lemonade Day.
Lemonade Day is both an event and an organization promoting entrepreneurship. Sunday, June 3rd is Lemonade Day in Maine.
When a child registers they’ll get a workbook with fourteen lessons that include all the information you’d need to run a lemonade stand well and with forethought. They’ll learn subjects such as debt, credit and net income, customer service, marketing
How will they get the word out about their stand? Where should they set up a stand for best visibility and great sales? Can they partner with a friend or family member whose house is located in a busier section of town for better results?
What do customers want? Is being cute enough in this competitive market for lemonade? How can your lemonade stand draw more people than another stand?
For a child who needs lemonade to sell, but no money, they will need to get into debt from someone or they will borrow money from their own savings to buy the material needed. Once the day is over they will calculate what they spent, what money they made, and determine if there is any net income.
You can see that though a lemonade stand can be a simple operation the concept can also be used for teaching practical lessons about entrepreneurship.
You can learn more at the web site.