Time to Startup!

The BizFilings blog covering business tips and trends.

Lemonade Day Supports Budding Entrepreneurs

Published on Jul 8, 2010

Summary

Read 'Lemonade Day Supports Budding Entrepreneurs' at 'Time to Start Up,' the small business blog by BizFilings.
lemonadestandThe tried-and-true concept of the lemonade stand has amplified into something much, much bigger ... Lemonade Day! OK, I may be dating myself now, but the first image that was stirred up for me at the mention of Lemonade Day was a Southern gentleman enjoying his Country Time lemonade on the porch, and Lemonade Day was another holiday conjured up by lemonade vendors to spike more sales. But, what Lemonade Day really is designed for is to educate children about the skills needed to be successful in the future. Hosted in several U.S. cities, Lemonade Day fosters the entrepreneurial spirit in kids by encouraging them to start a lemonade stand and sell their lemonade to the entire community. Lemonade store owners start out with a loan of $20 that they agree to repay with interest. Setting goals, writing a business plan and budget, finding investors and providing good customer service are all part of running their lemonade stand. They are also encouraged to practice social responsibility by giving back to their communities in some way. Unfortunately, Lemonade Day for 2010 is over, but it's not too late to think about next year's event. It's set for May 1, 2011. And according to Barbara Weltman, 150,000 children in 14 cities participated in the May 2010 event. The goal for 2013 is to reach 1 million children in 100 cities. Find out how your children can turn lemons into well, lemonade, while learning so many valuable lessons in starting a business. Learn more about getting involved in your community by clicking here. What other things can you do in your community to foster the entrepreneurial spirit in youth?