New Lemonade Day workbook makes business basics easier for kids

Before pouring their first glass of lemonade, Pincher Creek’s young entrepreneurs will need to think like business owners.

That lesson is at the heart of a revised workbook developed by the Pincher Creek and District Chamber of Commerce for its annual Lemonade Day program. The workbook uses simpler language and clearer explanations to help young participants understand concepts such as pricing, budgeting, profit and customer service before opening their lemonade stands during rodeo weekend.

Lemonade Day runs Aug. 15 from noon to 2:30 p.m., with registration open until Aug. 6.

“We’ve always had a workbook that they go through,” says chamber manager Crystal Senkpiel. “But this year we’ve revamped it a little bit, just to simplify things for younger children to understand, and make it a little easier for parents to explain it to the kids.”

The workbook serves as a business plan that participants fill in before and after the event. It encourages children to think beyond selling lemonade by asking why they want to start a business, what problem it will solve, who their customers are and what will make their stand different from others.

It walks participants through four reasons people start businesses: to solve a problem, to share a passion, to be the boss and to make money while helping others. Each idea is explained using everyday examples, such as tangled dog leashes or a love of baking, rather than formal business language.

Participants set spending, savings, sharing and profit goals, and consider donating part of their earnings to a local charity or community organization.

Kids learn basic financial concepts, including how to calculate the cost of producing each cup of lemonade, set a selling price, track expenses and income, and determine whether they have made a profit.

The workbook also covers basic bookkeeping. Expenses are shown as negative numbers, since money is leaving the business, while sales and tips are positive, since money is coming in. The goal is to keep expenses low and increase profit by the end of the day.

“It’s a great opportunity to plant that seed for younger kids to understand how business works,” Senkpiel says.

Judges consider the completed workbook, the quality of the lemonade, the stand’s display and the overall business plan.

Senkpiel says the chamber has received five registrations, including sibling pairs and groups of friends who plan to operate their stands together.

As in previous years, participants will receive a free business licence from the Town of Pincher Creek to display at their stands, adding another element of realism to the experience.

“They’ll go to the town office and let them know they’re doing Lemonade Day,” Senkpiel says. “They can display it at their stand and, when the judges come around, they’ll see that they have their business licence. We always say make sure you have it at your stand in case the bylaw officer comes by.”

Senkpiel encourages people to visit the stands and support the young vendors during Lemonade Day on Aug. 15.

“We have some great entrepreneurs registered for this event, and we’re really hoping the community will come out and support them in their endeavours,” she says. “There’s a lot of hard work they put into it ahead of the event, so it’s a great opportunity to teach them about work ethic and setting a goal and working toward it.”

Interested children can register for the event through the chamber’s website by visiting pincherchamber.ca/events.

Registered participants can pick up a paper copy of the workbook at Pincher Pets, or request a digital copy by emailing info@pincherchamber.ca. Completed workbooks are due by Aug. 12, ahead of the event.