Few activities today provide children with the fun, life lessons, and sense of achievement that a lemonade stand can. Not only will your children learn lessons about business and money management; they will also learn about collaboration and it is a great way to spend time having fun together as a family… plus, friends and neighbors will likely be glad to buy a cup on a warm summer day!
Planning the lemonade stand with your child can teach them about organization and show them that goals can be reached by taking action. From developing the vision of what their stand will look like, to the research and gathering of necessary materials to carry out the project your children will not only learn some basic business skills, but have fun while gaining this valuable information.
Along with basic money management skills, you can teach your child about philanthropy by selecting a worthy cause to donate the proceeds from the lemonade stand to, like a group of children in North Carolina that donated the proceeds from their lemonade stand to an organization that helps provide computers to families without them. Or perhaps the lemonade stand can serve as a fundraiser for their school, or for sick children in hospital or even animal shelters. Choosing a cause that children can identify with will enhance their overall learning experience and build their excitement.
The third element to running a lemonade stand is learning how to deal with the public and developing a sense of pride in what they have accomplished. While under your supervision they will be speaking to people and making sales, making change and explaining their endeavor. All of these are fundamental skills they will carry forward into adulthood.
On the sale day it will be important to ensure there are enough supplies on hand and the lemonade stand is properly equipped. While the focus may be on the lemonade stand itself, do not forget to protect your children from the hours under the hot sun with sunscreen, hats and sunglasses to protect their eyes.
Have you ever helped your children set up a lemonade stand? If so, what was the experience like? Did your kids have a blast making money to save up for a special purchase or to donate to a worthy cause? What lessons did they take away from the project? Share your experience in the comments below!
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