A new program coming to Washtenaw County will teach children the basics of entrepreneurship via the experience of running a lemonade stand.
Lemonade Day Washtenaw County will take place June 22. It's the local iteration of an international program started in 2007, which now takes place in over 80 cities annually. Participating kids are provided a workbook and parents are provided an app that walks them through the process of setting up a lemonade stand in a location of their choice.
Unlike traditional programs where children are simply given a product to sell, the Lemonade Day program also allows children to flex their creative muscles, according to Godfrey Aguwa Jr., co-founder and executive director of DCU Next Generation. The Michigan-based nonprofit’s mission centers around preventing generational poverty through financial literacy. It's also Lemonade Day Washtenaw County's main sponsor and organizer.
"(Kids) choose the name of their business, select a location, draft a business plan, create their own lemonade recipes, set their prices, and more – all while keeping 100 percent of their profits," Aguwa says.
Lemonade Day's goal is for participants to leave with a pocketful of money, an increased sense of self-esteem and community, and an understanding of the necessary planning it takes to turn an idea into a business.
"This is a concept we’ve seen many adults struggle with so we hope that this opportunity will give our young participants a head start in any future ventures they may have," Aguwa says.
Aguwa is hoping for a total of 450 participants. Click here for registration information.
Jaishree Drepaul-Bruder is a freelance writer and editor currently based in Ann Arbor. She can be reached at firstname.lastname@example.org.
Photos by Fonda Aguwa.