The lemonade stand seems to be the quintessential beginnings for most kidpreneurs. It is a simple, straightforward and easy way to get a beginning business off the ground. Although a lemonade stand seems to be the obvious choice for a kid starting out, it requires a bit more than just some lemonade mix. Being prepared is the best thing a kidpreneur can do to make sure that their budding business is a success. When determining the startup costs needed for a lemonade business, one must think about all the costs incurred before launching their first stand. This includes considering the other supplies necessary for the business.
4 considerations when starting a lemonade stand:
- Think about what you will need. This seems obvious. You need lemonade. That’s it. Right? Well, yes, but that is not all you need. You will need a vessel to hold your lemonade, a cup to serve it in, a table to hold your supplies, a money box or envelope for your profits, and most importantly, some signage so that your customers know where to find you. Make a list of all of the things you will need. HINT: This includes a place to sell your lemonade as well. Some states may require you to check in with town hall for a permit before starting your stand.
- Gather the supplies. Sometimes you can be lucky and find that you have some old poster board laying around from a school project or you may have a pitcher to hold your lemonade. You may even get lucky to find that your mom or dad has an old table that you can use to hold your supplies. If you cannot find or borrow some of the items, you will need to go out and purchase them.
- Make your lemonade and promotional signage. Your next step is to make your product and signage so people will know exactly what you are selling and how much you are selling it for. Proper placement of your signs is important, so keep that in mind when creating your signs.
- Launch your lemonade stand! Open your lemonade stand on a hot (but not too hot) day and pick hours that are the busiest. This will ensure that you are utilizing your time wisely. Have a fun time, be safe, and we can’t wait to hear all about it!
For more information on setting a budget or determining price points, check out our Creator’s Guide where we help you work out some of these items in more detail.