Are you ready for Lemonade Day?

Everyone is talking about Cinco de Mayo or even the Kentucky Derby. But for families, we know that there is less than 1 month till summer vacation. What does that mean? Kids need activities and opportunities to learn. This Sunday, May 6 my kids will begin their path to learning about business and finance during Lemonade Day Chicago. 

What is Lemonade Day Chicago?  It is a fun and educational way for kids to learn about business. The concept is simple. Kids start a lemonade stand. We all did this venture as a child. But the exercise is more than sitting in the driveway with a pitcher of lemonade.  The idea behind the movement is to have kids become an active, contributing member of society by taking ownership of their lives.

Lemonade Day Chicago promotes the following values. 

Financial Literacy & Economics

• capital equipment & consumables
• supply & demand
• credit, debt, gross & net income
• marginal utility
• return on investment
• compound interest

College Readiness & Career

• critical thinking & collaboration
• interest in attending college
• civic responsibility
• customer service
• teamwork & problem solving
• presentation skills & design

Life Skills/Personal Development

• leadership
• belief that attaining goals is within reach
• personal productivity
• self-direction & time management
• social responsibility & charity
• high order thinking
• social skills & self confidence

Academics

• math calculations
• reading & interpreting data
• oral & written communication

What have we done to prepare in our house?  My kids have borrowed $20 to purchase some cups and a can of concentrated lemonade from Costco. We are enhancing our lemonade with some frozen berries (also a Costco purchase).  Right now the cost per cup price is being debated as well as the issue of keeping everything cold. Hopefully all these issues will be resolved by lunchtime on Sunday. 

My kids learn best by doing a task. I’m hoping that they see that the stand is more than just a way to make money. The day is about interacting with the community, setting a goal and dreaming big. Whether they make back the seed money or lose it all is not ultimate test of success. It how they handle themselves throughout the event shows their true character. 

Can you participate in Lemonade Day Chicago?  Absolutely!  Visit the website at http://chicago.lemonadeday.org to register and receive your start-up kit. 

If you see a lemonade stand in your neighborhood this Sunday, please consider buying a cup or two. Your purchase just might help the next big entrepreneur succeed.