They also get to meet and greet neighbors and strangers and learn patience and perseverance.Īs summer wore on, the kids enjoyed coming up with bigger and better ideas, like Kool-Aid mixed with Sprite, and that was a hit.
There’s so much for kids to learn about business, like the fact that there are good and bad times and days to sell lemonade (lunch and rush hour are good neighborhood garage sales days are great chilly days are not). They also learn about making change, counting money, measuring, dividing earnings between kids, how much to charge, record-keeping, saving for something they want, and altruism (through donating their money to a specific cause or charity). Kids learn how to seek out a deal on cups and lemonade and to make their own ice in advance at home since they should ideally pay Mom back for start-up business costs (learning about profit and costs). Those were the days I didn’t gripe about having to sit outside in the heat acting as Lemonade Stand Manager but instead beamed with pride. Some days the kids would put up a sign that said all the proceeds from the day would be going to a specific cause, like to a cat shelter or to the Red Cross. He actually had a few takers, but the next day he decided to charge half price and ended up earning much more. My financially savvy 10-year-old son started the first day by charging one dollar for each medium-size glass of lemonade. The lemonade stand was a simple venture at first glance, but when I looked a little deeper, I saw it for all the lessons it taught my kids and their friends.Įconomics and altruism. One of the kids held up a sign with prices and yelled, “Lemonade!” to attract business. The kids made signs to put on their table and on sticks stuck in the ground. Then we ran to the store for cups, ice and powdered lemonade mix. To start, I told the kids to hunt down a small table, bigger folding table or stable cardboard box. I soon reluctantly agreed, and we were on our way to many days of fun and (don’t tell my kids this part) learning. So when my kids first suggested doing a lemonade stand in our front yard, I blamed TV and movies for putting the idea in their heads. When your kids ask if they can have a lemonade stand, do you sigh in anticipation of all the work required? Me, too.
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