Children and teens from across Northwest Arkansas will have the opportunity to hone their entrepreneurial skills and gain the experience of operating their own business on Lemonade Day NWA. Lemonade Day will return to Fayetteville, Bentonville and Siloam Springs on May 4.
Lemonade Day was developed in Texas in 2007 as an experiential learning program to teach school-age children how to start, own and operate their own business. With the support of Startup Junkie Foundation, Lemonade Day has championed youth entrepreneurship throughout Northwest Arkansas.
Students who participate in Lemonade Day are encouraged to design their product and lemonade stand, select a location from where they will sell their lemonade, borrow startup capital, determine a price, market their product, sell lemonade and pay off their loan. Profits made by students are often donated to charitable organizations or given as rewards to the students for their hard work and entrepreneurial spirit. In 2017, more than $1,000 in profits were donated to charity.
By running their stand, young participants learn the business and life skills needed to set a goal, make a plan and work the plan to achieve their goals. Lemonade Day’s program builds self-reliance and financial literacy and introduces important business and entrepreneurial skills.
Schools participating in this year’s Lemonade Day were mentored by Leadership Walton students from the Sam M. Walton College of Business at the University of Arkansas or participated in Lemonopolis, a game that teaches basic business principles. More than 700 students have already completed the Lemonopolis Lemonade Day curriculum, according to event organizers. The Boys and Girls Clubs and other afterschool programs will also operate stands this weekend.
“Go out and support these young entrepreneurs,” urges Michael Iseman, chief relationship officer of Startup Junkie. “They’ve worked hard to accomplish what they have, and they have learned great values along the way.”
Pop-up lemonade stands can found in Fayetteville, Bentonville and Siloam Springs on Saturday, May 4, from approximately 9 a.m. to 2 p.m.
Lemonade Day in Northwest Arkansas is a program of Startup Junkie Foundation and sponsored by the Walton Family Foundation, The Walmart Museum and B-Unlimited.
The lemonade stand, widely recognized as a symbol of free enterprise, has been a staple of youth entrepreneurship for more than a century. An article titled “Captain of Industry” from a 1947 issue of Life Magazine highlighted the time-honored practice of running a lemonade stand:
“Butch wants a bicycle! Lots of lawn and lemonade and baby-sitting lie between Butch and that bike, but we’re betting on the boy. He has energy, vision, and our national habit of working hard for what he wants. He’s American business – in miniature.
There are many names for Butch’s philosophy. You can call it Free Enterprise, Opportunity, Democracy, or Capitalism, if you want.
But whatever the name, America owes it much. For our most valuable natural resource lies in the ambition and initiative of Americans like Butch.
Free enterprise—and hard work—will bring Butch and his bike together. They are what built America and the American way of life. No nation on earth has found a satisfactory substitute for that combination.”