Every American child should set up a lemonade stand. This summer, a lemonade stand should be on the agenda for your son or daughter. Worried about the neighbors? Don't It's worth it. Keep reading for why every single American girl and boy should try their hand at lemonade sales.
"He is like a tree planted by streams of water that yields its fruit in its season, and its leaf does not wither. In all that he does, he prospers." Psalm 1:3 ESV
Reason #1: Entrepreneurial Skills
Entrepreneurship is about much more than just starting a business. The skills borne out of entrepreneurial pursuits will serve your child well for their entire life regardless of if they start a business in adulthood or not.
Reason #2: Financial Literacy in Action
Running a lemonade stand, even for an afternoon, will require your son or daughter to practice all sorts of financial concepts hands on. This is a hands-on opportunity to practice counting and making change, keeping track of expenses, and determining if a profit was made. Money is an abstract concept, even for adults. This lemonade stand experience is a great way to make basic financial concepts “real” and much easier for your lemonade salesman to retain over time.
Reason #3: Speaking to People (Including Adults)
When you’re 4 feet tall, talking to an adult can seem intimidating. Practice makes perfect. Speaking to patrons is an easy opportunity for your child to gain comfort and skill with communication.
Reason #4: Critical Thinking and Goal Setting
Young lemonade sellers often have a goal in mind for profit they want to achieve. That’s great! Encourage them to think about what is necessary to achieve that goal. If their goal is $10 is sales for the day, how long does your child think they need to set up shop? By helping them think through the steps needed to achieve their goal, you will help make a blueprint they can use throughout life anytime they set a goal.
Reason #5: Creativity in Action
A lemonade stand is a great opportunity for your young seller to be creative. What signs, slogans, or other ways can they think up to draw a line at their store front?
Reason #6: The Value of a Dollar (or Dime)
Another benefit of a lemonade venture is the lesson of where money comes from. This is an opportunity for your son or daughter to learn the value of money. Some lemonade patrons are generous, but your kid will most likely walk away with a better appreciation of the challenge of earning money. Feel free to remind them of this lesson for years to come.
Reason #7: It’s Fun!
Lemonade stands are fun. It’s a lifelong memory your child can form and you can treasure as a family. Support and encourage their venture. You’ll be glad you did.
We help Christian families on their journey to financial freedom. If you would like more posts from us on how to balance what's truly important with your finances, please sign up for our free newsletter. If you’d like to hear more about how Intrepid Eagle Finance helps families manage their financial lives, click here to learn more and schedule a free consultation.