Thinking about opening a lemonade stand with your kids? Don’t miss this opportunity to provide an important life lesson about the basics of running a business with this common childhood experience. One smart way to teach the basics of operating a business with your kids is to write a short business plan while keeping things fun for the kiddos.
To get the most out of your lemonade stand and to teach kids what it’s like putting up a business, write down a lemonade business plan with them. To make this the most of this activity make sure to involve your kid in each step of the planning process. For each section of the business plan, ask them what they think. You can offer ideas to get the ball rolling if they don’t have any ideas right away.
To help get your child involved think about each component of the business plan as a question. Instead of asking your kids about what we should include in the marketing plan, instead ask how customers will find out about their stand? Instead of handing your kid a packet of lemonade to mix with water, ask them what type of lemonade they would like to sell. This approach will get your kids thinking critically, which is kind of the whole point of this project.
And with this guide, we’ll help you how to make one for kids so they can get started on that lemonade stand this summer! Read on to learn how you can get started.
- Lemonade stand name ideas
- Business concept
- Marketing plan
- Customer focus
- Menu and sign
- Download templates
Keep it fun for the kiddos!
Since a business plan is quite formal this one will be less so. Kids have shorter attention spans than adults and the last thing you want is to make this project feel like homework. As a result, we recommend writing a shorter business plan or a one-page business model canvas. Our templates and advice below keeps this in mind. With that being said, let’s get on with it!
Lemonade stand name ideas
Have your child think of a business name for their lemonade stand. Their names are usually used for this. For example, it can go as simple as Alex’s Lemonade Stand or a bit more creative like The Wonder Ade. Give your child a few initial ideas so they can begin formulating name ideas. For research purposes, you can check out our complete list of lemonade stand name ideas here.
This is best done with a piece of paper and a pen so you can write down anything that comes to mind. You can then help your child choose among the top five, then the top three, and ultimately, the official one. Write the business name at the top of the business plan.
A business, whether big or small, must have a concept. Explain to your kids that a business concept helps them decide the design of their lemonade stand and make their setup more inviting.
For example, you can go with a colorful lemonade brand concept. They could add pink, green, or blue lemonade. They could also go with a fruit lemonade concept wherein each cup of lemonade will have fruit slices inside so it’s more delicious.
In addition to color schemes, talk to your kids the product to help them understand the options. One great approach is to ask your kids what type of lemonade they would like to serve best? There are more options than you might think.
- Should the drink be fresh squeezed?
- Will you offer special flavors like raspberry lemonade?
- Will you purchase a mix?
- Will you sell a ready-made lemonade from the grocery store?
Whatever the concept may be, discuss it with your kids and have them document the approach in this section.
Marketing plan for lemonade stands
Marketing is very important in business. Sit your kids down and explain to them what a proper marketing plan can do. For instance, you can explain that the reason why they buy a certain chocolate bar at the grocery store is that they see it on the huge posters outside of the store before they enter.
Discuss with your kids how they’ll market their lemonade stand. You can introduce to them the concept of advertising by using flyers and handing them out to your nearest neighbors. You can also put up a huge poster by your mailbox so everyone that passes by can anticipate the opening of your lemonade stand. A big clear sign taped to a table is another example of good marketing.
Word of mouth is always a classic yet effective marketing plan so be sure to tell your kids to spread the word around at school, with your friends after church, and even to people passing by your house. Even something as simple as waving to commuters who pass by is an effective form of marketing.
When you have a proper marketing plan down, write them all in this section. Be sure to include the following details on your flyers:
- Business Name
- What you’re selling
- The retail price per cup
- Opening date
- Selling Hours
Teach your kids to find their target customers early on. Ask them who they’d like to come over to try their lemonade. Will it be just the local neighborhood community? Or would they like to expand their market to the next block as well in an effort to sell even more?
This gets your kids thinking about how many people they’d like their lemonade stand to reach. It also helps them prepare how many cups to buy and how much lemonade to prepare.
Related Reading: 101 Catchy Mango Drink Company Name Ideas
There are customer service skills that can also be taught through this process. Explain to your kids the importance of smiling and greeting customers as they approach the lemonade stand. A smile and a wave is enough to make your stand more approachable and create better guest experiences.
Another tip is to teach basic communication skills when interacting with customers. Encourage kids to ask how people’s day is going while pouring a glass. Encourage your kids to thank customers for coming too. This teaches kids to think about the customers perspective. A very important skill to learn early in life!
Menu and Sign
Now comes the fun part of the kid-friendly business plan. Writing down the menu for your lemonade stand. More often than not there’s one product to offer and that’s fine. But here are some other ideas you can present to your kids.
- How much will a glass of lemonade be?
- Will you be offering only one size or small, medium and large ones?
- Will there be add-ons such as sliced fruit or food items?
- Could you offer a volume discount for people that want to buy three or more cups of lemonade?
Have your kids write down the menu so they are involved in this important decision.