This Sunday, Detroit better be thirsty. We are participating in Lemonade Day, a nation-wide campaign to encourage young entrepreneurs. Founded in 2007, Lemonade Day teaches our youth the skills needed to successfully run a lemonade stand. Participants receive a backpack filled with information guiding them through the entire business process. From setting goals, developing a business plan, setting a budget, and finding investors, students learn the importance of planning. They then create their product, stand, and learn the important of supply, demand, and customer service. Lemonade Day even coaches participants on their earnings. Every student will learn the importance of paying back investors, saving, donating to charity, and of course, purchasing something fun!
Watch below as Mallory talks about her youth and gives some advice to kids running their own stand.
Remember, go buy some LEMONADE this Sunday and support the entrepreneurs of tomorrow!