Team up with your nieces and nephews this summer to help your friends and neighbors beat the heat—setting up a lemonade stand is the perfect opportunity to teach them age-appropriate lessons in business management, and a great way to have some good, old-fashioned fun in the sun!

What You’ll Need:

-Two or more pitchers of lemonade
-Poster board, markers, crayons
-Folding table & table cloth
-Cups & two or more ladles
-Change & a change box

What to Do:

1. When you have Lemons…do as the saying says and make Lemonade. A good business always starts with a great product, so gather the little ones and start fresh squeezin’! Here are a variety of classic, fun and funky recipes to choose from.

2. The price is right. Make sure you discuss a good price point with your nieces and nephews. Nowadays, cups of the homemade good stuff can range in price from 50 cents to a dollar.

3. Savvy Signage. Now that your product is priced out and ready to go, you’re free to bring out the markers, crayons and poster board to create your very own marketing materials. Tip: Have your nieces and nephews come up with a creative slogan or tagline for the stand to standout.

4. Location, Location, Location. When it’s time to pick the location of your stand, bear in mind that location is key. Encourage them to pick a spot high in visibility and pedestrian traffic.

5. Keep the Change. Remember to bring a change box with you to help make change if necessary. Having your nieces and nephews handle this is a wonderful way to reinforce their math skills and business sensibilities.

6. Have Fun & Give Back. No matter how much you sell or don’t sell, don’t forget that the lemonade business always reaps sweet rewards. Suggest donating any extra earnings to charity—who knows, you might just inspire a future BenevolAunt or Auntrepreneur!

Photo Courtesy of pink.polka
Published: July 26, 2011