Lessons from a Lemonade Stand

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So when my seven year old decided he wanted to setup a lemonade stand and try to sell lemonade to make money I knew I was going to be in for some work.  My wife and I decided to support this entrepreneurial idea and my four year old got involved and was dead set on making some money for new toys.

The idea was to setup a lemonade stand on Friday night after work right near the mailboxes in the community figuring that we would get a lot of traffic as people went to check mail.  It worked out fairly well in that my kids were able to sell about 22 cups of lemonade at 50 cents a cup and netted $4.50 profit each after paying back the expenses of purchasing the cups, lemonade powder, and making the signs.

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It was however hot and 94 degrees, so for those 3 hours we were roasting and almost willing to drink all of our profits to keep cool.  The ice kept melting faster than customers came in to purchase cups and in the end, it was a lot of work for us as the parents.

So my kids learned a lesson about setting up a small operation, and I learned that next time my kids want to setup a lemonade stand I will tell them I would rather pay them double just to do some extra house chores.

-Justin Germino

Updated: April 20, 2011 — 8:00 am