Today’s kids start lemonade stands with a business plan

JOHN YANG: Lemonade stands evoke nostalgic
visions of kids handing out paper cups in front of their houses on a hot summer day. But now nonprofits like Lemonade Day are using
these rites of childhood to try to nurture budding business skills and entrepreneurial
thinking. Special correspondent Kavitha Cardoza from
our partner Education Week visited Indianapolis, Indiana, a city that enthusiastically embraces
national Lemonade Day. It’s part of our weekly education segment,
Making the Grade. FLANNERY PARTAIN, Lemonade Stand Participant:
Lemonade, come get it. Lemonade, ice cool. KAVITHA CARDOZA: A big smile, a loud voice
and lots of colorful posters, that’s how Flannery Partain (ph) plans to attract customers. She’s just 8, but knows exactly what she wants. FLANNERY PARTAIN: I want to be the boss. KAVITHA CARDOZA: And what better way to kick-start
that ambition than though that American summertime symbol of entrepreneurship, the lemonade stand? ACTOR: Lemonade, ice cold lemonade. KAVITHA CARDOZA: Flannery’s just learned her
first business concept, the importance of a catchy name. FLANNERY PARTAIN: At first, I was like Sour
Lemon, but then my dad’s like, no, no, no, no, no, no. And so he was like, how about Sweet Lemon? I’m like, yes, that could work, too. CHILD: I was thinking we could name it Lemon
Squeeze? SCOTT JONES, Entrepreneur: Lemon — that is
the best name I have ever heard. Lemon Squeeze, you guys like that name? This is so important because our education
system doesn’t teach that kind of thing. KAVITHA CARDOZA: That’s multimillionaire entrepreneur
Scott Jones. He developed the technology we commonly use
in voice-mail. SCOTT JONES: When I was a kid, I not only
did the lemonade stand, because, once I had the bug of entrepreneurship, I had haunted
houses, I had putt-putt courses, I would make Christmas decorations. Once you start, it keeps on going. KAVITHA CARDOZA: Jones wants kids to get bitten
by that same bug, so he founded Lemonade Day in Indianapolis nine years ago. And he’s backed that effort with a million
dollars that helps pay for start-up money, city permits and free workshops. SCOTT JONES: I have a tattoo: Do. Right? That’s what life is for me — and I have taught
that to my children, the willingness to get up off the couch or away from the video game
and actually do that idea. KAVITHA CARDOZA: This is selling lemonade
version 2.0, because even before they have made a single sale, kids have had to go through
a curriculum with an adult where they learn to make a business plan, calculate costs and
learn key concepts. FLANNERY PARTAIN: Profit. CHILD: Teamwork. CHILD: Economy. C.J. HARRIS, Lemonade Stand Participant: And
if they tell you no, just say, have a nice day. JEMMA WALKER, Lemonade Stand Participant:
For $3, blue raspberry lemonade. KAVITHA CARDOZA: Eleven-year-old Jemma (ph)
Walker is the queen of elaborate lemonade stands. She always has a red carpet. JEMMA WALKER: We want everyone to feel like
they’re VIPs when they come to the lemonade stand. Hello. Would you like to support the lemonade stand? Well, we accept credit cards. Yes, we do. KAVITHA CARDOZA: Her brother Miller is part
of her marketing plan. MILLER WALKER, Lemonade Stand Participant:
My role is to help, to help get customers to come and buy some lemonade at the lemonade
stand, and also to look adorable. KAVITHA CARDOZA: Her parents, Sherrean (ph)
and Luke (ph) Walker, say the lemonade stand has taught Jemma life skills. SHERREAN WALKER, Parent: It’s a real-world
applicability of all those skills. LUKE WALKER, Parent: They are seeing all of
those connections between what you like to do and what can make you successful. KAVITHA CARDOZA: So far, 75,000 kids have
participated in this free program in Indianapolis alone. JEMMA WALKER: Two, two, four, $430.08. Yes! My best bit of business advice would probably
be, have fun with it. KAVITHA CARDOZA: It’s fun, but it’s also a
serious effort to develop a pipeline of future entrepreneurs. Schools nurture kids who are academically
gifted, who are athletically gifted, who are artistically gifted. You think we should encourage kids who are
entrepreneurially gifted? SCOTT JONES: Absolutely. And Lemonade Day is the perfect way to introduce
these concepts of managing money, because how often in school are they being asked to
learn and exercise selling skills, marketing skills, social skills, psychological skills,
right? It just isn’t done that much. You learn it all, right, when you do a lemonade
stand. KAVITHA CARDOZA: It also fosters a sense of
community. Ten-year-old C.J. Was the last year’s lemonade
entrepreneur of Indianapolis. What’s this? C.J. HARRIS, Lemonade Stand Participant: It’s
the MVPs for asthma, so it’s to help asthma, because I do have asthma. KAVITHA CARDOZA: All the kids follow the program’s
spend, save and share motto. C.J. HARRIS: So, you have standard lemonade. You have blueberry lemonade. KAVITHA CARDOZA: For C.J., the customer is
king. Well, most of the time. MAN: Water is better for you than any of this
stuff. C.J. HARRIS: No, lemonade is better. MAN: No. C.J. HARRIS: No, I do not agree with you. KAVITHA CARDOZA: A Lemonade Day study found
children who took part in this program were more likely to plan to start their own business
and are more confident they can find lots of ways around any problem. They also believe they will invent something
that will change the world. Flannery has set her sights a little lower. She wants to buy art supplies and glitter
glue. And with a steady stream of customers, including
a drive-through, she’s well on her way. For the “PBS NewsHour” and Education Week,
I’m Kavitha Cardoza in Indianapolis, Indiana. JOHN YANG: If you want to help your child
start a lemonade stand, a financial planner gives you advice on our Web site,

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