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.
Lemonade Stand Finances
They may be kids but that doesn’t mean they can’t understand the concept of how selling stuff works. To keep it simple, bring them to the grocery with you while you shop for lemonade ingredients. Make sure to point out to them the price of each ingredient so they know how much they all cost.
Keep the receipt with you and when you head back home and make lemonade for a taste test, break down all the items and their prices and sum it all up.
Show them how much lemonade costs and then give a fixed price to add how much you’ll charge for their service. Explain to them that the service fee will be their profit, which they’ll get to keep as earnings. The anticipation of finding out how much money leftover can be extremely exciting at the end of the day.
To keep things simple, write down the formula this way in front of your kids:
Selling price of lemonade
– Cost of lemonade
Don’t forget to list down the materials you need for your lemonade stand and place them in this section of the document. Here are a few materials you and your kids will need to get started:
- Lemons or lemonade mix
- Syrup and or sugar
- Cups with lids
- Straw (or you can go without straws if you’re teaching them about saving the environment and cost savings)
- Table napkins
- Ice in a cooler
- Illustration board, crayons, and pens to decorate the menu
With a proper list of expenses and an equation to better visualize where their profit is coming from, your kids will better understand how a real business works.
Download our lemonade stand business plan templates below. If you would like to complete something shorter consider using our food business canvas here. This is essentially a one-page business plan that allows you to map the key ingredients of the business on a single page.
- Be there as a guide for your child but it would be best to have them choose most of the decisions such as the business name, menu, and design for the stand. That way you encourages creativity at a young age. Help them come up with their own solutions to problems instead of giving the answers right away.
- Work as a team. Let your kids split up the work associated with opening a lemonade stand. This instills the importance of team work and lets your kids focus on the aspects of running a lemonade stand that interests them most. If you have a child that’s gifted at drawing, let them be in charge of making the sign. If an older sibling wants to poor the glasses to avoid spills that works great. If you have a child born with the gift of gab, have them oversee customer service and greeting customers.
- Have fun! You’ve been in your kids’ position when you were selling the lemonade. It’s all about enjoying the moment. Don’t keep things too serious lest you take the way the fun of it all. This should be an enjoyable and educational activity.
And there you have it! A lemonade business plan for kids can be as simple as that. Keep it brief and use simple words so the young ones can understand and stay engaged in the startup process. Guide them along the way and use this time to bond with them as well.
Have fun selling those lemonades! With this short yet detailed business plan, you and your kids are ready to start a lemonade stand that develops skills that will be used for decades to come.
The post How to Write a Lemonade Business Plan for Kids + Sample Templates appeared first on Food Truck Empire.