I was excited when I learned that I was selected to host a #TruFanStand, compliments of Truvia. This was right on time for the “how to teach kids entrepreneurship” theme I’d be working on anyways. Cyanne’s 5 and has recently entered Kindergarten. She’s been home with me for a majority of the summer and a major topic of conversation was why I get to stay at home and work while Daddy has to actually go to work. In her 5 year old mind, she had began to develop the beginnings of the common stereotypes towards working from home: that must not be real work.
I was determined to change her view.
I’ve been spending a lot of time teaching Cy the benefits of entrepreneurship, as well as the added struggles. There are pros and cons. Daddy gets to clock out at the end of the day….mommy doesn’t. In fact, most days Daddy gets off work and helps Mommy with the business until the wee hours of the morning. Being an entrepreneur is no walk in the park. It’s A LOT of hard work and dedication. Try teaching that to a 5 year old though….
I decided to take a different approach and offer experience, which I’ve learned is the best teacher.
It was time for Cy to go into business!
We used the lemonade stand to teach her a valuable lesson. She participated hands on in every step of the way, from the budget to the actual in store purchasing. We discussed the difference between sponsor and investors. We discussed pricing our products according to location, competitor pricing, etc. We spoke about setup and customer service.
Special thanks to Somewhat Simple for posting these awesome Lemonade Stand Printables!
It payed off!
Not only did she do a GREAT job with her lemonade stand, she earned a whooping total of $63! This was an actual profit of $50 for her once she paid back Dad and I for booth rental and supplies. In addition to supplying the sugar, Truvia also provided $10 for supplies, so she did not have to worry about paying back that portion.
Due to the fact that she has no expenses whatsoever, so made the decision that she will invest 50% of her earnings into her savings account, and keep the other 50% to do with as she pleases.
She’s advised us that she plans on purchasing her own horse with her earnings….
I think our next lesson will be about inflation.
How do you teach your kids entrepreneurship?
Disclosure: MrsWrightWrites partnered with Crowdtap and Truvia for this post. All options remain my own.