Chances are your child learned many lessons while creating their business plan and setting up shop on Lemonade Day. That’s what successful entrepreneurs do—they learn on the job, as they go. When they realize that they should have done something differently, they don’t look at it as a failure, but a lesson—information on how to do something better next time. This in and of itself is a critical point. Not every business choice will be the right one—It’s what you do with that information that really matters.

Which is why so many Lemonade Day kids are eager to set up another stand, and we encourage them to continue to experiment before Lemonade Day 2018. It’s a great way for them to continue to grow, test new ideas and prepare for next year’s Lemonade Day season. 

These young entrepreneurs have so much on the job knowledge that they are looking to put to good use.  Maybe their location could have been better, or their advertising more targeted.  Or perhaps they priced their lemonade product too low and they had a hard time making a profit.

Having the opportunity to address these issues is very rewarding.  It’s also tons of fun to continue to work on their bottom line, and earn more money so they can save some, share some and of course spend some.

Review their last stand

You can find a check list of questions for your child to review their last stand here:  https://lemonadeday.org/blog/what-lessons-did-you-learn

Rewrite the business plan

Once they’ve established what they’d like to change about their lemonade business, it’s important to put pen to paper and rewrite their business plan.  Having an updated business plan is a best practice that will keep them on track.

Remember to follow local rules and ordinances

Of course, for their next stand please remember if your child wants to set up in front of a storefront, always ask for permission from the business in advance.  And your local city may have health codes that you will need to follow—you also may need to obtain a health permit.

Sign up for Lemonade Day 2018

Lemonade Day 2018 will arrive sooner than you think.  And there is no substitute for participating in the actual program.  So stay tuned and when registration opens sign up early!  And make sure your young entrepreneur participates in your local best-tasting contest.  It’s a great way to hone their recipe and also engage in some friendly competition.

Do you want to participate in next year’s Lemonade Day? Contact your local city to find out how your child can learn to be an entrepreneur, or learn how you can volunteer in your community.

About Lemonade Day

Lemonade Day is a non-profit dedicated to teaching every child across North America the business and financial skills that are the key ingredients of entrepreneurship. By learning these skills early in life, children will be better prepared to be successful, financially healthy adults. Through our fun, hands-on program Kids K-5 are empowered to start their very own business—a lemonade stand—and experience the feeling of earning real money, using 100% of their profit to spend, save and share based on their own goals.

Lemonade Day is in 62 cities throughout the United States. Over the past 10 years, we have served more than 1 million kids in our kid entrepreneur programs and in 2016 alone, 101,000 kids participated in Lemonade Day.

Visit LemonadeDay.org to learn how to participate in Lemonade Day in your city.