One of the keys to running a successful business is to provide the best product or service to your customers. This same lesson can be used for kidpreneurs looking to run the most popular lemonade stand on the block. But like any business will tell you, success does not rely on products and services alone.
Here are our 4 tips for running a successful lemonade stand:
1) Location, location, location – The three most important words in real estate. This also applies to where you place your lemonade stand. If your house is at the end of a cul-de-sac, you might not want to place your stand there since there is less traffic driving through. Alternatively, you could get creative and set up a stand at your local busy park.
Your kidpreneur may also consider setting up his or her stand outside of a local business where there is sure to be significant foot traffic. If your kidpreneur wants to go this route, make sure to ask the business owner for permission beforehand.
Pro tip: No matter where your kidpreneur decides to locate their stand, find out ahead of time if permits are needed to avoid any problems once you’re set up. The only exception to this would be if your kidpreneur is participating in an official Lemonade Day City.
2) Diversify your offerings – To boost sales, your kidpreneur may want to sell more than one flavor of lemonade. Other ways to diversify what’s available at the lemonade stand could include different cup sizes or even personally designed cups.
3) Deliver great customer service –The most important asset to any business is its customers, so how your kidpreneur interacts with them matters! Before your kidpreneur opens for business, make sure he or she practice and prepare. Determine ahead of time what you both will say to people when they walk up to the stand. This includes making eye contact with the customers and staying polite, ending any interaction with an enthusiastic thank you! Kindness counts and manners matter – especially in business.
4) Have fun! – The best away to attract customers and sell lots of product is to have fun! If neighbors and passerbys see your kidpreneur having a good time, they are more likely to stop and see what all the fun is about. Plus, having a lemonade stand should be fun!
About Lemonade Day
Lemonade Day is a non-profit dedicated to teaching every child across North America the business and financial skills that are the key ingredients of entrepreneurship. By learning these skills early in life, children will be better prepared to be successful, financially healthy adults. Through our fun, hands-on program Kids K-5 are empowered to start their very own business—a lemonade stand—and experience the feeling of earning real money, using 100% of their profit to spend, save and share based on their own goals.
Visit LemonadeDay.org to learn how to participate in Lemonade Day in your city.