Cover a few positives your children did well, and then hit on one or two improvements that could be made. Going over how well you did and what can be changed for next time is a great way to learn about business. Helping them accrue a little extra business will excite them for their next business venture. Remember to send an email or call the neighborhood before the launch of the stand, so your child can feel like a success. They can learn about accounting by subtracting their total expenses from their sales to see the profit they accumulated. They will be able to see how much each cup of lemonade costs and the profit they make from selling.
HOW TO HAVE A LEMONADE STAND FOR KIDS HOW TO
Teach your child how to track their items and what each ingredient costs. However, if you make $16.00, then mommy gets $8.00 and loses money. If you make $30.00, Mommy gets half and makes a $5.00 profit. When you make $20.00, you owe them $10.00 and get to keep the rest - no matter how much you make! Mommy could also invest in your stand with $10.00. Show that mommy or daddy can lend you $10.00 for ingredients. If your child is looking for a little cash to start up their business, feel free to teach them about lending and investing. You may help them out with costs if they haven’t begun to save from chores, but teach them with our next tip that money isn’t just handed to them. By having them calculate the cost of the lemonade, sugar, cups, sign, sunscreen and pitcher, they will begin to understand the importance of the dollar. When deciding to have a lemonade stand, it is important that your children know the value of money. Here are a few quick tips to help teach your children how to be fiscally responsible. Now that the kids are out of school and looking for activities to entertain them, now is the perfect chance to teach them a little about finances. Warm, sunny weather calls for a glass of ice cold lemonade.