When Life Gives You Lemons
Think back to when you were eight years old. It’s a warm summer day and you are eager to earn money. Did you ever set up a lemonade stand or a bake sale? Do you remember how it felt to have someone stop and purchase something you were offering? Now, imagine doing that on a larger scale within an organization that helps build and foster young entrepreneurs.
Lemonade Day is a strategic, lesson-based program that takes the dream of a business and creates a legitimate business plan while teaching the principles required to start a company. This free program is available for children aged K-12 and for teachers to utilize in their classrooms. The program teaches participants how to start, own, and operate their own business in a fun and experiential way by, you guessed it, owning a lemonade stand. Kids are inspired to work hard and make a profit while being taught how to spend, save, and share by giving back to their community. Each year children can tangibly experience entrepreneurship through this program. Today’s youth are eager and enthusiastic about business but need more skills and experience to succeed.
The founder of Lemonade Day, Michael Holthouse, envisioned an opportunity where children can be empowered to become future entrepreneurs by learning the fundamentals of starting, owning, and operating their businesses. “Lemonade Day was founded on an important American principle that entrepreneurs take risks, believing they can realize their dream if they work hard, take responsibility, and act as good stewards of their resources,” says Alene Willingham, City Director of Lemonade Day Lexington. She and her Event Coordinator, Michaela Luther oversee a Lemon Council made up of volunteers who understand and appreciate the value in providing this program to children.
Since launching back in 2007 in Houston, Texas, Lemonade Day has grown from 2,700 kids in one city to one million kids in over 100 licensed markets in the United States and Canada. “Lemonade Day sparks the spirit of entrepreneurship and empowers youth to set goals, work hard, and achieve their dreams,” says Willingham.
Nicole Weldon, parent of a Lemonade Day entrepreneur, shares, “I wholeheartedly endorse Lemonade Day as an extraordinary initiative that offers children a unique, practical introduction to entrepreneurship. The experience has left a lasting impression on my son, Andrew, and we are excited about participating in future events. For any parent looking to nurture their child’s business expertise, creativity, and confidence, Lemonade Day is a golden opportunity,” says Weldon.
Lemonade Day isn’t just a day; it is a season. Registration opens in January and continues through March. The official kickoff day is March 28th. After registering, each participant receives a Welcome Packet with all the information and paperwork needed for the season, such as a loan application, “Best of the Zest” application, and grand opening and pitch competition invitations.
On Kickoff Day, parents and entrepreneurs can meet the staff of Lemonade Day Lexington in person and ask questions. It is also a chance for anyone who has yet to register, the chance to meet the staff, ask questions, and decide to join while onsite. Throughout the remaining months, entrepreneurs participate in many different events including Loan Day in partnership with First Community Bank, Business Photography, provided by Eric House with Free Talk Media, Best of the Zest Pitch Competition, Marketing Week, Lemonade Day Lexington, Payback Loan Week, and Business Results Celebration. On Loan Day, young entrepreneurs learn how to ask an investor for a loan. This activity allows children to gain real-life experience by conducting business in person at the bank. First Community Bank and Lemonade Day decide the dates participants can sign up for to apply for a loan.
Entrepreneurs have the opportunity to sign up for professional headshots to use on business cards, social media, and flyers. They will also be able to sign up for a Best of the Zest Pitch Competition, which is similar to Shark Tank, where entrepreneurs prepare a business pitch to present to three judges. The entrepreneurs are then given a numerical score and ranked. Winners are announced after an intermission, and the Fan Favorite winner will be announced during Lemonade Day Lexington. The entrepreneurs will take part in a Marketing Week, which gives them a chance to show off their digital creativity by producing a commercial or flyer for Lemonade Day Lexington’s social media channels. These flyers and commercials act as their “paid advertisement” for a business.
Lemonade Day Lexington’s grand opening takes place May 4, 2024, from 9 am to 2 pm. This event allows entrepreneurs to open their businesses and make money. They get to put their skills into action and see the reward for working hard on communication and business building. This event is held like a festival, with everyone having a numbered spot to set up their stand. Voting begins at 10 am and will run through 1 pm. The contests are Best Tasting Lemonade and Best Stand, where judges walk around judging stands and lemonade. The third vote will come from all the fans/customers. Winners will be announced at 1:45 pm that day.
After the hustle and bustle of preparing for the Lemonade Day Lexington is over, students visit their assigned branch of First Community Bank to pay back the loans they borrowed at the beginning of the program. This portion of the program ends the season of Lemonade Day. “At the end of Lemonade Day on May 4, just like every business, the entrepreneurs will fill out a report and submit their results,” says Willingham. “On a local level, results will be judged, and a Youth Entrepreneur of the Year 2024 will be named. The local winner’s results will be sent to the National level and judged. If chosen by National, the winner will attend the Lemonade Day National Conference in Houston, Texas, in September 2024.”
Newberry’s Youth Entrepreneur of the Year 2023 10-year-old, Gracie Lowder, placed 2nd runner-up on the National level. “I heard about Lemonade Day from a friend and wanted to learn how to run a business while raising money to donate to the Courage Center,” Lowder explains.
Lemonade Day is a free program and support from community sponsors is vital to keeping it running. Visit their website for program details, registration, and sponsorship opportunities.