Read This Before Building a Lemonade Stand
Nothing beats a kid’s entrepreneurial spirit more than creating their own business, and having a lemonade stand can be a great learning experience. So how can you help your child get the most out of a lemonade stand? Here are some tips:
Get Your Child Involved
Get your child involved in the lemonade making process by having them follow the instructions on how to make their product, with your help if they need. If you can, go with them to the store to buy the products. Let them do these simple tasks so that they can feel accomplished and know that they do have some power to do things themselves.
Whether you are on the side of your cul-de-sac or on a busy street, be sure to address all roadside safety concerns. Always encourage oncoming customers to always look both ways, and have your child understand and follow this rule as well. According to Abels & Annes, “Car accidents that occur on the shoulder of the road are very dangerous, and often, deadly. In fact, of all fatal accidents in the nation in 2009, about 40% of them involved the shoulder of the road impact.” Place your stand on the sidewalk or driveway so that your child can safely retrieve an item that may get away from them.
For other safety or legal concerns, establish a buddy system with a friend, sibling, or trusted neighbor to ensure that your child is not left unattended. Use your best judgment and ere on the side of caution.
Easy Fun Sales Tactics
So, your child has all of their product in order and your safety down pat, so now goes to the fun part: selling that lemonade! Teach your child how to politely inquire potential customers to buy their lemonade. Let your child thank paying customer for their services and come back again if they want! Even if your child faces some rejection, let them know that they can always try again.
What to do with Their Earnings
So, you’ve stayed outside for a few hours and your child was able to score some cash! Celebrate and give them options on what they can do with their money, depending on your money teaching techniques. If your child wasn’t able to get very much business, counter this by celebrating their accomplishments. Always make their experience about what they learned rather than what they gained.
A lemonade stand is great learning tool, so let your child have fun with it! No matter whether they made money or not, having their own businesses can be an important childhood learning experience. Have fun and good luck!