The Obligatory Lemonade Stand
No summer is complete without setting up a table on the front drive and ambushing unsuspecting neighbors taking their morning stroll. It is an American kid’s right of passage to operate a summer lemonade stand.
But why not take it one step further this summer? My son and his business associate manufactured sugar scrubs, lip balms and bath bombs. Together, they worked on a little business plan, and presented it to me (aka the bank). I love that the activity forced them to plan ahead, ‘cause this bank was not about to drive back and forth to Walmart every time they forgot an ingredient.
In addition to being educational, this activity was also wonderfully time consuming and provided our kids with hours and days of fun. As parents, we were minimally involved – the promise of financial reward motivated the kids, and we had a hard time convincing them to quit their business – they wanted to keep reinvesting and growing their earnings. They soon started planning their venture for the following summer.