How to Start a Lemonade Stand
Business Overview:
If you want to teach your children the basics of entrepreneurship, customer service and marketing, you should help them learn how to start a lemonade stand. A lemonade stand business is the perfect way to introduce your child to the business world and teach principles like making change, supply and demand and the importance of choosing just the right location. You will need to discuss with your youngster how to set up a lemonade stand and make a list of everything you’ll need including signs, balloons, cups, ice, lemonade, etc. You might also consider adding other items to your menu like cookies or muffins. Stress the importance of making the signs large and easy to read so they will attract both foot traffic and auto traffic. If your house isn’t in a high traffic area, you should find a location such as a street corner where more people will see your child’s stand. You may even be able to partner with a neighborhood garage sale or sporting event to really increase visibility. Explain to your child that when you are learning how to run a lemonade stand, it’s important to set your business apart from the competition. You can do this by offering organic or flavored lemonade. If you have a snow cone machine, you could also offer lemon snow cones. The final thing that will make this business idea a success is customer service. Make it clear to your budding businessman (or businesswoman) that a simple “thank you” and a smile will go a long way in making customers happy and making a healthy profit.
A Day in the Life of a Lemonade Stand Business Owner:
You and your child will start your day deciding where to set up your stand. If it’s not within walking distance, you’ll need to put your materials in your vehicle and drive to the location. You will set up the stand, put up signs and balloons, and get the lemonade (and other items if you choose to sell them) out and open for business. You will spend your day helping your youngster make change and serve customers. At the end of the day you will help count profits, pack up and head home.
About Your Customers:
Your customers will be thirsty drivers or passersby looking for a refreshing glass of lemonade and perhaps a snack.
What You Need to Start:
- Delicious lemonade
- Pitcher, cups, ice
- Other snack items like cookies (if you choose to offer them)
- Table and chairs (for parent and child)
- Signs
- Balloons (optional)
- Marketing materials (optional)
- Dollar bills and change for making change
The Good:
- A lemonade stand is the perfect first business for a budding entrepreneur.
- It teaches basic principles that youngsters will need throughout life.
- It’s a good opportunity to expose children to dealing with adults in an “official” capacity.
- It’s a fun way to spend time with family and neighbors.
- It’s rewarding to please your customers.
The Bad:
- This is a seasonal business that won’t do well unless the weather is warm.
- It can be difficult to get a youngster to focus on one activity for an extended period of time.
Resources:
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