After being out in the summer sun, coming across a lemonade stand can be a thirst-quenching relief. Year after year neighborhood kids set up shop outside their homes, stock up on Dixie cups and lemonade, and eagerly wait for their first customer. While customers are usually only interested in cold refreshments, it seems that some of these little entrepreneurs may also have a few tips to offer on how to run a business.
Parents have always loved lemonade stands because they get kids outside and teach children basic business lessons. While these pseudo-business owners may be young, some of these children go beyond just playing boss and use successful business strategies.
Helping the community. Lemonade stands have been popping up with an objective beyond personal profit, raising money for charity instead. There are news stories from across the U.S. about young children helping out individuals or organizations in need. Alex’s Lemonade Stand is a famous example of how a little girl with cancer got the attention of the nation and helped raise over $1 million towards helping find a cure for cancer. The foundation created by her parents has since raised more the $30 million, $12 million coming from lemonade stands alone.
Expanding on products. One little girl set out with a goal to raise $6,000 for a Special Olympics event. She quickly realized her customers would be interested in other products and began selling craft products, all for under $5.
Utilizing social media. Social media sites are becoming important tools for organizations to reach out to everyone from customers to employees. One tech savvy entrepreneur (and parent) used Facebook as a medium to spread the word he was going to have a lemonade stand to raise money for an injured police officer. Along with attracting customers who wanted to support the cause, local organizations also joined the fundraising effort, and the event raised over $15,000 in 3 hours!
Producing a quality product. One boy found out that even when it comes to lemonade, a quality product can go a long way when it comes to establishing customer loyalty. A customer was so impressed by the lemonade at one stand that they recommended the spot to others on Chowhound.com, a national food website!
Alex's Lemonade Stand Foundation