Lemonade Day Stand – 2014
May 7 2014

lemonade-day-2014We participated in Lemonade Day again this year on May 4, 2014 (May the 4th be with you).  It was so much fun and a great entrepreneurial lesson for the kids last year (see Lemonade Day Austin – May 5, 2013 – Entrepreneurial Kids), that we did it again at the same location.  The three girls made over $165 in profits this year compared to $91 last year.  We changed our product mix and provided coffee, muffins, and lemonade versus lemonade, sport bars, and muffins last year.  Since we were at the Rookie Triathlon, there were already sponsors that were providing free Power Bars!

My son did it again with two of his friends at the same location they did last year.  I haven’t heard the results yet, but they think they made a good profit as well.

The only downside of doing the stand at a triathlon is having to get up at 4:30 a.m. in order to be there by 5:30 a.m. (hence a photo of the stand in the dark) to get set up before the race started!  A true entrepreneurial experience: odd hours, lots of work, and you have to wait until the end of the day to see if you actually made any money. I’m guessing more money is made in some simple lemonade stands than in many businesses who attempt to get up and make lemonade every day…even when there is a shortage of lemons, or currently limes (The lime panic of 2014).  See also The Lime Shortage: Still Messing With Your Margarita.

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Lemonade Day Austin – May 5, 2013 – Entrepreneurial Kids
May 5 2013

Every year there is a nationwide effort to encourage kids to think like entrepreneurs called Lemonade Day.  This year it was held in Austin on May 5 (cinco de Mayo), 2013 and both of my kids participated with some of their classmates.  One location was at the Rookie Triathlon and the other was at Mueller Lake Park. My daughter’s team made a profit of $91.  They split $90 three ways and gave $1 to the 3 year old sister of one of the girl’s on the team.  Her younger sister is so cute and had a sign that said “buy my sister’s lemonade” that she held while yelling the words on her sign.  She drew in many customers by her sheer cuteness and confidence! Although she deserved more than $1, she is only 3 and thought $1 was an amazing amount of money.  My sister and her friends are 7 and 8 years old…oh what a few years of living does to change your perspective on the value of $1. :-)

My son and his buddy are still calculating their returns, but it looks like they made money after deducting costs.  I’ve told both my son and daughter that no gloating is allowed. I have a feeling my daughter’s team performed better mostly because of Location, Location, Location!

Lemonade Day is a great way to teach kids about the economics of running a little business and was started to help teach kids about entrepreneurship.  The kids create signs and are supposed to figure out what supplies they need and how many drinks/snacks they need to sell to make a profit.  It’s fun for the parents too and gives us an opportunity to talk about business, marketing, and selling with our kids.  Those are skills that will serve them well for life!  Gone are the days of steady jobs that last 20 or 30+ years.  Here are the days where most people will hold 10 to 20 different jobs [infographic] at different companies in their lifetime.  Might as well teach them how to pick themselves into the job/career that they want!

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