On August 6th, the 2nd and 3rd grade students of Youngstown’s Summer Day Camp participated in a Lemonade Day Celebration, selling lemonade from their stands. After spending a week planning their product with the help of the Youngstown Business Incubator’s Youth Entrepreneurship program, the kids were ready to greet the public with bright smiles and put their businesses to the test.
The young entrepreneurs presented their handmade posters, themed decorations, and curated recipes at the Wick Park Pavilion, where they answered customers’ questions, exchanged money, and poured their lemonade. Not only did the campers leave the event with their own profits, but they also walked away with an entrepreneurial spirit and a series of valuable lessons from the sweet-and-sour experience. After speaking with the campers about their stands and the event, here are their key takeaways:
It Takes Money To Make Money
After speaking with the founder and partners of Lemon Kisses Lemonade, it was clear that this opportunity had taught the young entrepreneurs that they must put money into their product to operate a successful and attractive business. With kiss stamp branding, pink decorations, and customizable options like strawberries and syrup, Lemon Kisses Lemonade sold lemonade to nearly every visiting customer. Selling their beverage for $2 a glass, the stand’s operators were happy they had spent the extra expenses to create a desirable product for the celebration.
The Price Must Be Right
The most unique aspect of the Lemonade Day Celebration, in collaboration with the Youngstown Business Incubator’s Youth Entrepreneurship program, is the event’s competitive atmosphere. Unlike a traditional lemonade stand, these entrepreneurs set up shop right next to contending businesses and were forced to find ways to make their product the most alluring. For the owners of Lemon Aid, that competitive advantage came in the form of pricing as they charged $0.75 per cup, nearly a third of what their competitors charged. With an affordable price and tasty recipe, the stand easily satisfied customers throughout the celebration, even securing several repeat purchasers.
Teamwork Makes the Dream Work
Not only were these young and passionate entrepreneurs learning how to operate a business, but they were also learning the benefits and struggles of teamwork. Out of the event’s nine lemonade stands, seven businesses comprised two or more students, requiring the stand operators to compromise on their ideas about pricing, theming, product, and dividing tasks. One lemonade stand, The Power of 2, learned this lesson all too well when only one of its owners was available to set up the table before the market opened. Selling freshly squeezed lemonade, the stand owner prepped cups, organized straws, and decorated the table, all before his partner was able to arrive. However, when the Lemonade Day Celebration started, the real teamwork began as both students served beverages to customers, exchanged money, and cleaned up their stand, all with bright smiles.
Through the lessons taught by the Lemonade Day Celebration, these campers developed an entrepreneurial mindset and the confidence, communication, and leadership skills required to succeed in their future endeavors. With the guidance and support of YBI’s Youth Entrepreneurship program, these campers had the chance to operate their own businesses, create their own product, and earn their own profits. Congratulations to the successful entrepreneurs of Youngstown’s Summer Day Camp. May they continue chasing their entrepreneurial dreams!
