"Hi! My name is Annah and I am a former student of Mrs. Hahn. My friends and I will be having a lemonade stand on Saturday, May 7th from 11:00 - 5:00 in Erin on the corner of Limerick Lane and Roosevelt Road. Please stop by, rain or shine, and enjoy some lemonade. 100% of the profits will go to the Hahn family. Please help us make this lemonade stand an awesome tribute to Mr. Hahn and help his family!"
That message is from my daughter and I am so proud of how she is using her entrepreneurship skills she has been building the last few years and the lemonade stand she and her dad built to bring her friends together to raise money to defray the hospital, hospice, and funeral expenses for her former teacher's family.
So far the tent and ice have been donated from local businesses (lesson of partnering and promoting sponsors). We have discussed the importance of making this an event of donations versus a set price but suggesting a donation amount to guide the customers (know your audience).
Lots of math skills are going into estimating how much lemonade and ice will be needed---and securing maybe an older brother who can drive to be on stand-by if more products are needed (event and business planning). She's shopping around for the best price on cups (keep start up costs low). And, wow.....marketing is now making sense. Bring on the friends with Facebook, Snapchat, and Twitter---ask mom to email key groups like the school and church (What? Social media can be used for other than girlfriend chatter!) Plus, the importance of getting enough friends to help who are wiling to donate their time (devoted and skilled employees are key).
Hopefully, not only will there be awesome donations for the cause, but Annah and her friends will walk away with life skills for the future!
Update to come next week!
Hi! I'm Jennifer! Program Manager of the Early$tart=Money$mart Program