After supper, I remembered that we spoke with our daughter Zoey about setting up a lemonade stand on our street. She is a natural when it comes to money. As a matter of fact, when she was an infant, she grabbed my wallet and pulled out a credit card that happened to be the one that had the highest credit limit. My wife and I both looked at each other with a skeptical grin and laughed. As a dad I want her to have every opportunity to learn and experience what life has to offer, personally, spiritually and financially.
We sat at the dining room table with a pen, paper and an idea. We are big fans of Shark Tank, so this was going to be a fun project for us. I helped coach Zoey what to write and explained why we were writing it. I even coached her to write a mission statement. At first she didn’t understand but I asked her why she would buy lemonade from someone on the street. She then had the answer; “to drink something good and cool off from being hot” she said. You can read her business plan below.
“Zoey ZH inc.
Lemonade 89 oz
Cups 8 oz
1 Gallon of lemonade = 11 8 oz cups
1 8 oz cup price $1 = $11
Cost of lemonade $4.49 taxes $4.75
Profits per gallon $6.36
To make thirsty people happy with my delicious chilled lemonade!”
My daughter expressed the importance of putting an explanation point at the end because it was exciting. We wanted to share this with our community and the public, so that it could encourage other moms and dads to do the same. I feel that it’s so important to raise our kids to be young entrepreneurs and thinkers. My dad never had the chance to do this with me so I’m so grateful and proud to be able to do it with my daughter and my other kids when it’s their turn.
Please feel free to comment your thoughts below and share with your friends.