Who needs Lord Sugar…The path to entrepreneurship starts with lemonade! Teach the kids a lesson in business with a very cool retro Lemonade Stand.
Step 1: Planning
Discuss when and where the lemonade stand will run. Teach your kids about seasonality (choose a hot day) and explain the importance of location and footfall.
If your kids are interested, you can discuss the idea of the Minimum Viable Product (or a “test” product). Make a batch of lemonade and have some friends and family test it and give you feedback. Then iterate away: maybe you need to add a bit more sugar, a carbonated version, etc.
Step 3: Prep
Define the props: e.g. table, tablecloth, cups, jug & sign, or simply buy the play shop featured in the image above from the GLTC sale. And then let your kids’ imagination fill in the gaps. How much will you charge? Will you offer bulk discounts?
Step 4: Execution
The big day! The stand is ready to go, the sun is shining (hopefully!) and your kids are putting in a good day’s work 😉
Step 5: Analysis of costs and revenue
At the end of the day, count up how much your child has earned. Run through the costs for a lesson on profit.
And job done. You have a little entrepreneur in the making!
P.S. If you have little kids, you can adapt this activity: make the lemonade together to practice pouring and weighing and sell it to family and friends for plastic money.
Mum of Leah (5) and Reuben (2)
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